Fed’s Daly: Time for rate cuts is approaching, more than two cuts possible this year
San Francisco Fed President Mary Daly said that the time for rate cuts is approaching due to weakening in the labor market and signs of persistent inflation slowing. Emphasizing that there is no guarantee for September, Daly said that each meeting should be viewed as an opportunity to adjust policy. If inflation spreads or the labor market strengthens, there may be fewer cuts; however, the current trend points toward two or more rate cuts this year.
Trump: I will seriously increase tariffs in India
According to CCTV News, Trump said that India is making huge profits by buying Russian oil at low prices and selling it on the open market and announced that he will significantly increase tariffs on India.
WSJ: White House is preparing an executive order to punish banks that exclude crypto companies
According to the Wall Street Journal, the White House is preparing an executive order that would impose penalties on banks that refuse to serve crypto companies for political reasons. The draft text orders an investigation into whether financial institutions are violating equal opportunity laws, antitrust rules, or consumer protection laws.
Grayscale transferred 886 BTC from three wallets to Coinbase
According to Arkham data, three different addresses belonging to Grayscale transferred a total of 886.39 BTC to Coinbase Prime. The transfer’s market value was calculated at approximately $101 million.
CFTC is considering allowing spot crypto trading on some futures exchanges
According to a Bloomberg report, the U.S. Commodity Futures Trading Commission (CFTC) is discussing allowing listed futures exchanges to list leveraged digital assets such as spot Bitcoin and Ethereum. Acting Chair Caroline Pham stated that they wish to solicit public comments on the matter by August 18.
Hyper liquid broke the all-time monthly trading volume record with $320 billion in July
According to The Block, Hyper liquid broke the record with a trading volume of approximately $320 billion in July. This volume represents a 47% increase compared to June. Hyperliquid’s futures trading volume reached 11.89% of Binance’s volume. The Solana-based Drift platform achieved a 336% growth, reaching a volume of $14.8 billion.
Figure filed for an IPO
According to CoinDesk, Figure, a blockchain lending company founded by former SoFi CEO Mike Cagney, filed a confidential IPO application with the US SEC. The company has provided over $16 billion in mortgage loans through the Provenance blockchain. Additionally, a merger with Figure Markets, a yield-generating stablecoin project, was announced.
Sharplink Gaming has purchased an additional 18,680 ETH, bringing its reserves close to 500,000 ETH
According to Onchain Lens, the company has increased its total reserves to 498,884 ETH with the purchase of 18,680 ETH, valued at approximately 66.63 million dollars. The total value of these assets has reached approximately 1.8 billion dollars.
Bullish aims to raise $629 million in an IPO with a $4.2 billion valuation
According to Axios, Bullish and its affiliate CoinDesk plan to raise up to $629 million by offering 20.3 million shares at a price range of $28–$31 per share. The company reported a net loss of $349 million for the first quarter of 2025.
STAN raises $8.5 million from Google and other investors
Indian social gaming platform STAN has secured $8.5 million in funding from several institutional investors, including Google’s AI Futures Fund. The app has 25 million downloads and 5.5 million monthly active users.
OpenMind secures $20 million investment led by Pantera Capital
OpenMind, a Silicon Valley-based startup aiming to create an open collaboration network for smart machines, has raised $20 million led by Pantera Capital. Investors include Sequoia China, Coinbase Ventures, DCG, Lightspeed Faction, and Pi Network Ventures.
