Fed Keeps Interest Rates Unchanged
The US Federal Reserve (Fed) kept its policy interest rate unchanged at 4.25-4.50%, in line with expectations. This marks the fifth consecutive meeting without a change in interest rates. However, for the first time since 1993, two Fed members voted against the decision. Fed Chair Jerome Powell said monetary policy remains well positioned to respond quickly to developments, but added that no decision has been made yet for September.
Powell: Economy Strong, Inflation Still High
Highlights from Powell’s remarks include:
- Economy in good shape despite uncertainties
- Unemployment is low
- Recent indicators suggest that economic activity growth will moderate in the first half of 2025.
- Inflation has declined from 2022 levels but remains high
- Tariff-related inflation is in its early stages
- No decision has been made yet on a September rate cut
White House Releases Crypto Report: No Clarity on Bitcoin Reserves
The White House has published a 166-page digital asset report based on Trump’s January executive order. The report calls for clarifying the authorities of the SEC and CFTC while proposing legal regulation for the spot crypto market. However, it does not include any concrete steps or a timeline for the government’s Bitcoin reserve strategy.
Trump Reaches Trade Deal with South Korea: 15% Tariff + $350 Billion Investment
Trump announced that the US has reached a major trade agreement with South Korea that includes $350 billion in US investments and $100 billion in LNG purchases. Under the agreement, full access will be granted to US products (automotive, agriculture), and a 15% customs duty will be imposed on South Korea. There will be no tax on the US.
Bank of Japan Keeps Interest Rate at 0.5%
The BOJ kept its interest rate unchanged for the fourth consecutive meeting. In line with market expectations, the policy rate was maintained at 0.5%.
Trump-linked WLFI invests $10 million in Falcon Finance
World Liberty Financial, backed by Donald Trump, has made a strategic investment in stablecoin platform Falcon Finance. Falcon said it will use the funds to develop its conversion infrastructure.
Microsoft set to join the $4 trillion club
Microsoft (MSFT.O) shares rose 8%, bringing its market value close to the $4 trillion mark. It could become the second company to surpass this threshold after Nvidia.
Twenty-One Capital Considering USD Loans Backed by BTC
Twenty-One Capital, the world’s third-largest institutional BTC investor with 43,514 BTC, is considering offering USD loans backed by Bitcoin. The company stated, “All options are on the table.”
Profusa Launches Digital Asset Strategy with Bitcoin Investment
NASDAQ-listed Profusa has officially launched its digital finance strategy by purchasing $1 million worth of BTC in partnership with Block Fills.
Bolivia and El Salvador Sign Cooperation Agreement in Crypto
The Central Bank of Bolivia and El Salvador’s Digital Asset Commission have signed a cooperation agreement on crypto regulations and blockchain intelligence systems.
ZKsync Era Integrates with ZKsync Gateway
ZKsync Era, which has connected to ZKsync Gateway, aims to accelerate the integration of the network with cross-chain messaging and ZK token fee infrastructure.
Bitcoin Spot ETFs See Inflows for the 5th Consecutive Day
On July 30, Bitcoin ETFs saw $47 million in inflows. BlackRock’s IBIT ETF reached the highest daily inflow at $34 million. Bitwise’s BITB ETF received $12 million in inflows.
Ethereum Spot ETFs Close Positive for the 19th Day
On the same day, Ethereum ETFs saw $5.79 million in inflows. BlackRock’s ETHA ETF led with $20 million in inflows. Grayscale’s ETHE ETF, however, experienced $7.7 million in inflows but remains with a net outflow of $4.3 billion.
