Trump Evaluates 11 Candidates for Fed Chair
US President Trump is reviewing 11 candidates to replace Fed Chair Jerwell, whose term expires in May 2025. The candidates include Jefferies Chief Market Strategist David Zervos, former Fed Governor Larry Lindsey, and BlackRock Global Fixed Income CIO Rick Rieder. Treasury Secretary Scott Bessent will interview the candidates to narrow down the list, but the decision process is expected to take some time.
US Treasury Secretary Bessent: Interest rates should be cut by 150-175 basis points
Bessent said the Fed’s interest rate policy is too tight and that a cut of 150-175 basis points is necessary. He indicated that the first step could be a 50 basis point cut in September. He also said that corporate profit margins have begun to return to pre-pandemic levels.
ETF Expert Geraci: A Series of ETF Approvals May Come in Crypto
Nate Geraci stated that ETF applications have accelerated following the clarification of crypto regulations in the US. According to Geraci, the market should be prepared for consecutive ETF approvals. This situation could increase liquidity and investor interest in the crypto market.
Metaplanet Reports Strong Growth in Second Quarter
According to Metaplanet’s second quarter 2025 report, the company’s operating revenue increased by 41% from the previous quarter to 1.239 billion yen. Net profit rose by 38% to 11.106 billion yen. Total assets reached 238.214 billion yen, marking a 333% increase on a quarterly basis.
FTX Creditor Information Leaked, Beware of Fraudulent Emails
It has been reported that the names and email addresses of FTX creditors have been leaked. Users are advised to be cautious of phishing emails and to verify the sender’s address before clicking on any links. Access to the official portal is recommended only through verified channels.
White House: Nvidia and AMD to Give 15% of China Revenue to US
The White House has confirmed that Nvidia and AMD will pay 15% of their chip sales revenue in China to the US government. In exchange for this agreement, export licenses will be granted for the relevant products. Officials have stated that similar regulations may be applied to other companies.
Do Kwon Faces Up to 25 Years in Prison
Terraform Labs founder Do Kwon has admitted to telegram fraud charges related to the collapse of TerraUSD and Luna. In the incident, which resulted in approximately $40 billion in losses for investors, Kwon agreed to pay an $80 million fine and be banned from cryptocurrency trading. Prosecutors are seeking up to 12 years in prison, with the sentence to be announced on December 11.
100 Million USDC Added to the Algorand Network
According to Whale Alert data, 100 million USDC was minted on the Algorand network at 5:06 PM Beijing time. The transaction’s value was calculated to be approximately 99.98 million dollars. The identity of the wallet, whose source is unknown, has not yet been disclosed.
BNB Chain Launches 5th Annual Awards
BNB Chain has announced the “BNB Chain Annual Awards 2025” to recognize successful projects within its ecosystem. Awards will be given in five categories, and the winners will be announced on September 5. To participate in the voting, users must have at least 0.01 BNB in their wallet.
Tether CEO: 63% of USDT Transactions Are for Transfer Purposes Only
Tether CEO Paolo Ardoino revealed that 63% of USDT transactions are solely for the purpose of sending USDT. In other stablecoins, 78% of transactions are associated with different assets. These figures provide important insights into the dynamics of stablecoin usage.
