Strong Employment Data Could Delay the Fed’s Interest Rate Cut Plans
Morgan Stanley expects the Fed to cut interest rates in September but emphasizes that this is not certain. An employment increase of approximately 225,000 in August or a significant rise in inflation triggered by tariffs could cause the Fed to postpone its rate cut plans for this month.
American Bitcoin Listed on Nasdaq Today
According to the Wall Street Journal, American Bitcoin, which is linked to the Trump family, has completed its merger with Gryphon Digital Mining and is listed on Nasdaq today. The company, backed by Eric Trump and Donald Trump Jr., conducts Bitcoin mining and accumulation activities. The company’s stock code will be “ABTC.”
Eric Trump: Great Effort Made for American Bitcoin’s Nasdaq Listing
Eric Trump said in a statement on X that he had put a lot of energy into American Bitcoin starting trading on Nasdaq today over the past 12 months. The company, which merged with Gryphon Digital Mining, aims to offer Bitcoin support on an institutional scale.
H100 Group’s Bitcoin Holdings Exceed 1,000
Swedish publicly traded company H100 Group purchased an additional 47.16 Bitcoin at an average price of 1,058,103 SEK. With this purchase, the company’s total Bitcoin holdings reached 1,004.56 BTC. The company stated that it views this threshold as an important milestone and will continue to increase its reserves.
U.S. Bank Restarts Crypto Custody Services
U.S. Bancorp has restarted its cryptocurrency custody services for corporate clients. The bank also announced that it has added a Bitcoin ETF to its product range.
Pakistan Central Bank Lifts Crypto Warning and Begins Work on Digital Currency
Pakistan’s Ministry of Finance announced that the Central Bank will lift its warning regarding cryptocurrency trading. Additionally, the Pakistan Central Bank is working to launch the country’s own digital currency.
Nasdaq-listed Galaxy Digital, in partnership with Superstate, will tokenize its SEC-registered GLXY shares on the Solana blockchain. Investors will be able to tokenize their GLXY shares and transfer them on DeFi platforms, provided they pass KYC. This move is considered the first example of a Nasdaq-listed company’s shares being traded directly on a public blockchain.
ECB President Lagarde: Gaps in EU Stablecoin Regulations Must Be Closed
ECB President Christine Lagarde said that regulators in the EU must require “equivalent regulatory systems” and “guarantee mechanisms” for foreign stablecoin issuers. Lagarde emphasized that otherwise, there could be a risk of reserve flight.
Bank of England Deputy Governor: Stablecoins Can Enable Faster and Lower-Cost Payments
Bank of England Deputy Governor Sarah Breeden noted that stablecoins have the potential to speed up cross-border money transfers and reduce costs. Breeden stated that stablecoins are increasingly becoming part of the mainstream financial world and that regulations will be made public by the end of this year.
World Gold Council Plans to Launch “Digital Gold”
According to the Financial Times, the World Gold Council is working on a new “digital gold” format that could rev
