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Fastest Breaking Markets Updates Crypto • Finance • Technology • War
Taylor Swift Endorses Harris for President After Debate
*Taylor Swift: I will be casting my vote for Kamala Harris and Tim Walz in the 2024 Presidential Election.
Bank of Japan board member Nakagawa said on Wednesday the central bank will continue to raise interest rates if the economy and inflation move in line with the bank's forecasts.
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BOJ IS SAID TO SEE LITTLE NEED TO HIKE INTEREST RATE NEXT WEEK
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Users lost more than $5.6B in 2023 through crypto-related fraud — a 45% jump from 2022: FBI
*People over 60 years old were most scammed, they lost ~$1.6B
*Investment scams were the most common, accounting for 71% of losses with 32k complaints & $3.9B loss
The Week Ahead: Sept:
Macro:
⊷ Apple Event [iPhone 16 & AI] on Sept. 9
⊷ Trump VS Harris debate Sept. 10 on ABC News [9PM ET]
⊷ U.S. CPI on 11
⊷ U.S Anniversary of 9/11 attacks
⊷ ECB Interest Rate Decision on 12
⊷ U.S. Jobless Claims and PPI on 12
Crypto:
⊷ Coinbase CEO [Brian] will speak at the Goldman Sachs Communacopia & Technology Conference on 10 [at 1:10 pm ET]
⊷ SEC vs. Binance, SEC’s motion for leave to amend the complaint is due by 12 [SEC intends to amend its complaint against Binance, including with respect to the 'Third Party Crypto Asset Securities, This likely means that the Judge won't have to decide whether tokens such as Solana are unregistered securities or not just yet]: @infinityhedge
Token Unlocks: $400M
⊷ APT: $68M: 2.3% on 11
⊷ STRK: $27M: 3.6% on 15
⊷ XAI: $6.5M: 6.3% on 9
Earnings/Charts/Articles ⬎
TRUMP HUSH MONEY SENTENCING DELAYED UNTIL NOVEMBER 26, 2024 — AFTER THE 2024 ELECTION
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*A federal judge rejected Coinbase's bid to dismiss a proposed class action by shareholders who accused Coinbase of downplaying the likelihood it would be sued by SEC
*New York court grants Coinbase access to some SEC documents but blocks Gensler’s subpoena
November or December Is in Focus for a Jumbo Rate Cut: @infinityhedge
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*TRADERS PRICE IN 50% CHANCE OF HALF-POINT FED CUT THIS MONTH
*RATE-FUTURES TRADERS PRICE IN ABOUT A 55% CHANCE OF A 50 BPS SEPT FED RATE CUT VS 45% FOR A 25 BPS CUT
*U.S. NFP: 142K
*Unemployment Rate: 4.2%
⊷ U.S. NFP:
*July revised lower by 25K from 114K to 89K
*June revised lower by 61K from 179K to 118K
All Telegram chats and group chats are private amongst their participants: Telegram FAQ
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Goldman desk on unemployment rate and FED rate cut [Sept.]
⊷Unemployment Rate: Est. 4.2%, Prev. 4.3%
⊷NFP: Est. 164K, Prev. 114K
⊷U.S. JOBS DATA DUE FOR SEPT. 6
Binance has barred former CEO Changpeng Zhao aka CZ for life from running the company confirmed by CEO Richard Teng — The DOJ agreement doesn't explicitly prevent CZ's future return as CEO, but Binance states he's barred from management under the terms of the agreement.
⊷ Following the plea deal, Zhao said he had no intention of being a CEO of any sort going forward and that he will focus on investing in blockchain, AI, and biotech companies.
⊷ Some original reports of the plea deal said he would be barred for three years due to language in a DOJ memo.
A NEW TYPE OF HACKER IN TOWN
*Near X account is hacked
*NEAR Protocol's X account was not hacked: spokesperson
VC Giants a16z, Union Square Ventures Get Subpoenaed by New York About Uniswap: Sources: Coindesk
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TRUMP VS HARRIS Debate Ended: No Crypto Mention
*Trump odds down 3% on Polymarket & Predictit — Harris odds jumped 3%
*After Debate ended Harris campaign called for a second presidential debate in October
The misuse of Worldcoin is under investigation in Singapore for perpetrating money laundering and terrorism financing: link
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China needs to spend up to Rmb10tn [$1.4T] over two years in stimulus funds to reflate its economy and return it to sustainable growth: FT
*The stimulus, which would be up to 2.5 times the “bazooka” package China enacted after the global financial crisis in 2008, would need to directly target households through social welfare spending rather than investment and infrastructure.
*Morgan Stanley’s Xing said in a “bull case”, Beijing could issue Rmb10tn in stimulus funds over two years — Rmb7tn to boost social welfare spending. The other Rmb3tn would be used to accelerate the sale of China’s massive housing inventory and more quickly stabilise property prices.
Spot BTC ETFs Update:
tl:dr
*inflows now outflows
*advisors < 10% of holdings (boomers never came)
*avg trade size now < $12k
It's not an adoption vehicle. Instead a small tourist tool and on-chain is returning to Tradfi: report
*WISDOMTREE ETHEREUM TRUST FILES TO WITHDRAW REGISTRATION STATEMENT
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Fed's Waller says it's time to lower rates, open to larger cuts
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RATE FUTURES TRADERS REVERSE EARLIER BETS, NOW SEE 25 BPS FED RATE CUT IN SEPT AS MORE LIKELY (63% CHANCE) THAN 50 BPS (37% CHANCE)
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*Foreign-born workers: +635K in Aug.
*Native-born workers: -1.325M in Aug.
Allan Lichtman predicts Kamala Harris will be the next president of the United States
*Since 1984, he has accurately forecasted the outcomes of 9 out of 10 elections using his "Keys to the White House" model.
Bloomberg's Unemployment Rate Forecast: 4.34%
@infinityhedge
⊷U.S. JOBS DATA DUE FOR SEPT. 6
The 2-year Treasury yield is almost back below the 10-year yield, close to reversing the inversion of the yield curve that began in 2022: Nick [WSJ]
A few charts show^ what has happened the last few times that the yield curve "un-inverts"
The Grass airdrop checker is live!
**WE HAVE NOT VERIFIED LINK SO PLS WAIT OR CROSS CHECK ⚠️ BEFORE CONNECTING WALLET
⊷Check your eligibility here:
grassfoundation.io/eligibility.
⊷At the moment, the checker only reflects allocations for Closed Alpha and Epochs 1-7. The checker does NOT include the ongoing Bonus Epoch or the To Be Announced allocation.
⊷Total supply will be 1B GRASS tokens, with 10% set aside for the first airdrop.
Airdrop Breakdown:
⊷Closed Alpha: 1.5%
⊷Epochs 1-7:7%
⊷Bonus Epoch: 0.5%
⊷To Be Announced: 1%
Japan Megabanks To Tap Blockchain And SWIFT For Instant Trade Payments
Mitsubishi UFJ Financial Group, Mizuho Financial Group and Sumitomo Mitsui Financial Group will begin trials as early as this fall with more than 10 other lenders in Japan and overseas.