1. Concerns about the US economic recession have raised expectations of a Fed rate cut, with the market expecting policymakers to begin cutting rates this month. The possibility of a 50 basis point rate cut is estimated to be about one-third, according to forward contracts.

2. Donald Trump has promised that if re-elected as president, he will make the United States the global capital of cryptocurrency and adopt Elon Musk's proposal to establish a government efficiency committee.

Trump plans to outline a series of economic proposals in a speech on Thursday, including the introduction of the government efficiency committee proposed by Musk, a more aggressive attack on regulation than in his first term, and a commitment to cancel some of the unused funds allocated by the Biden administration. As Musk's political views become more conservative, the relationship between Trump and Musk is becoming closer. In a recent conversation, Musk suggested that Trump establish a committee to address government spending issues as a way to address inflation. -Original

3. BTC rebounded after falling to around $55,731.00 in the early morning, and is now trading at $55,898.69, with a 24-hour decline of 2.98%. The main trading volume exceeds $100 million.

4. The Central Bank of Brazil (BCB) has selected Visa and Santander to conduct the second phase of its central bank digital currency (CBDC) pilot.

The Central Bank of Brazil (BCB) on Wednesday selected 13 participants to conduct the second phase of its central bank digital currency (CBDC) pilot, known as Real Digital. -Original

5. The UK Financial Conduct Authority (FCA) has released its annual report, showing that 87% of cryptocurrency company registration applications failed to meet approval standards, with only 4 approved.

The UK Financial Conduct Authority (FCA) has released its annual report, showing that in the fiscal year ending March 31, 2024, 87% of cryptocurrency company registration applications failed to meet approval standards. The FCA received a total of 35 applications, with only 4 companies successfully registered. The approved companies include Binance's payment partner BNXA, PayPal's UK subsidiary, and Nomura Securities' joint venture crypto custody company Komainu. The remaining applications were either rejected or rejected due to a lack of key assessment elements. Since January 2020, the FCA has received a total of 359 cryptocurrency company applications, with only 44 companies currently registered. Some of the unapproved companies have stated that the registration process involves long waiting times and a lack of feedback, leading some cryptocurrency companies to choose to leave the UK and seek registration in other regions. -Original

6. A US court has fined a Ponzi scheme disguised as a cryptocurrency and carbon investment project $209 million, with the defendants required to compensate investors with $83.7 million.

The US Commodity Futures Trading Commission (CFTC) reported on Tuesday that Judge Mary Rowland of the US District Court for the Northern District of Illinois has ordered Oregon resident Sam Ikkurty and his multiple entities to pay a fine of $209.61 million. The entities involved include Jafia LLC, Ikkurty Capital LLC, Rose City Income Fund I LP, Rose City Income Fund II, and Seneca Ventures LLC. The court's decision is based on fraudulent solicitation and misappropriation of funds found by the CFTC, which described these actions as a Ponzi scheme disguised as a cryptocurrency and carbon investment project. The judgment requires Sam Ikkurty to pay $83.7 million in restitution to investors to offset the $36.9 million in illegally obtained forfeiture, in addition to paying a civil penalty of $110.9 million. -Original

7. Ethereum Foundation core researcher Justin Drake stated in an AMA that the accumulation of ETH value is crucial to the success of Ethereum, and revealed that the foundation has a reserve of funds for about 10 years.

During the 12th AMA of the Ethereum Foundation, core researcher Justin Drake responded to the question "Where does the value of ETH lie today? Has the rollup ecosystem 'overridden' ETH, causing it to lose value?" by saying, "ETH is money. The accumulation of ETH value is crucial to the success of Ethereum. I believe that if ETH cannot become the programmable money of the Internet, Ethereum cannot become the settlement layer of value on the Internet. The accumulation of ETH value is attributed to traffic and monetary premium. The important metric is total fees, not fees per transaction. The ultimate goal of Ethereum's success is 10M tx/s, providing billions of dollars in daily revenue even if the cost of each transaction is less than 1 cent." -Original

8. The number of USDT holders on the TON chain has reached 1 million. -Original

9. The cryptocurrency market continues to be weak, with Aptos leading the decline; Coinbase's stock price has fallen to a 7-month low.

10. Ethereum gas fees have surged by 117.58% in 10 minutes to 7.43 Gwei, indicating an increase in on-chain activity. Please pay attention to market changes. -Original

11. Billionaire Mark Cuban stated that if Kamala Harris taxes unrealized gains, it will "destroy the stock market."

12. US stocks closed mixed, with the Nasdaq rising by 0.25% and the Dow falling by 0.53%.

At the close of the US stock market, the Dow fell by 0.53%, the Nasdaq rose by 0.25%, and the S&P 500 index fell by 0.3%. -Original

13. CryptoQuant analysts stated that since transitioning to proof of stake, Ethereum's performance has been 44% lower than Bitcoin's.

CryptoQuant analysts stated that since transitioning to proof of stake, Ethereum's performance has been 44% lower than Bitcoin's. The analysts believe that due to weakened network activity and increased supply, Ethereum may further decline. -Original

14. A Bitcoin address containing 31.9 BTC ($1.8 million) transferred its funds to a new address after being idle for about 12 years.

The above are selected highlights from the past 24 hours. For faster news, please download AICoin (aicoin.com).

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