Statements from Fed Members
- Fed official Collins stated that it is appropriate to keep interest rates unchanged at this time due to the possibility that inflation will remain high for some time. Collins emphasized that the current monetary policy could affect short-term market interest rates and volatility. She implied that a hasty easing step could pose a risk, given the fragility of the economy.
- Williams said that due to the weak labor market, there is room for the Fed to cut interest rates again in the near term.
- Fed’s Miran stated that the lack of data does not prevent the Fed from making economic forecasts. He emphasized that the Fed has many alternative indicators to assess broader trends. He said that the current uncertainty will make policy decisions more cautious.
70% Chance of Rate Cut in December
Interest rate futures are pricing in a 70% chance of a Fed rate cut in December. This shows expectations are shifting rapidly due to weak economic data and labor market fragility. The market is becoming increasingly convinced the Fed will soften its hawkish stance.
Fed Chair Race: Hassett
With Powell’s term ending in six months, the search for a new Fed Chair in Washington has accelerated. Although Trump’s preference is Bessent, he is reportedly prepared to accept Hassett. Trump’s harsh criticism of Powell suggests the new chair will face pressure to maintain independence. Hassett’s openness to aggressive interest rate cuts is one reason he stands out in a potential Trump administration.
Ukraine and Europe Reject US-Russia Peace Plan
Ukraine and its European allies have rejected key parts of the peace plan drafted by the US and Russia. Kiev is unwilling to accept provisions involving territorial concessions. European countries believe the plan could upset the security balance. The plan’s feasibility therefore appears weakened.
Strategy Executive Shao Wei-Ming Sells MSTR Again
Strategy Executive Vice President Shao Wei-Ming has sold 5,200 MSTR shares again. The transaction value was approximately $1 million. This sale raises questions about the recent spate of share reductions by company executives.
SEC Approves Bitwise 10 Crypto Index ETF
The SEC has officially approved NYSE Arca’s listing of the Bitwise 10 Crypto Index ETF. The ETF tracks a broad basket of assets including BTC, ETH, XRP, SOL, ADA, SUI, LINK, AVAX, LTC, and DOT. The approval is seen as a significant regulatory step for the crypto industry in the US.
CryptoQuant CEO: “Strategy Would Go Bankrupt If an Asteroid Hit Earth”
CryptoQuant CEO Ki Young Ju said Strategy’s financial risks are exaggerated. Ju stated that there is no reason for Saylor to sell BTC, adding that doing so would be tantamount to suicide for the company. His statement, “Strategy won’t go bankrupt unless an asteroid hits Earth,” became a hot topic on social media.
Cango Mined 129.9 BTC This Week
Cango, which trades on the NYSE, announced that it mined 129.9 BTC this week. The company’s total BTC holdings reached 6,773.4. The firm stated that it has not yet made any sales and will continue its long-term accumulation strategy.
US Launches National Security Investigation into Bitmain
The US administration is investigating whether Bitmain hardware poses a national security risk. The investigation has been ongoing for several months, and details are being kept confidential. The US has increased security reviews of Chinese-sourced products in critical technology areas.
US Prosecutors: No Immunity Pledge Made to FTX Partners
US prosecutors denied allegations that FTX executive Ryan Salame offered immunity to his partner Michelle Bond. This statement became a critical point of debate in the ongoing FTX case. Prosecutors emphasized that no special agreement was made and that the process is proceeding in accordance with the law.
