Join officially channel WeWantYou

Former U.S. Treasury Secretary: No need for an emergency rate cut, but a 50 basis point rate cut in September may be appropriate

On August 12, former U.S. Treasury Secretary Summers warned that any president's influence on U.S. monetary policy making would ultimately harm the economy. He pointed out that government officials "always want to print more money and lower interest rates - step on the accelerator hard to boost the economy." This pressure raises expectations of inflation and pushes up long-term interest rates. He believes that such actions by government officials will only "increase inflation without substantial output growth.

Xinglu Technology Completes Strategic Round of Financing, Fosun Wealth Participates

According to financial reports, Xinglu Financial Technology Holdings Co., Ltd., a digital and intelligent institutional wealth management platform in Hong Kong, announced the completion of strategic financing. The specific amount has not been disclosed yet. Fosun Group's wholly-owned technology financial service platform in Hong Kong, Fosun Wealth International Holdings Co., Ltd., participated in the investment. Xinglu Technology is headquartered in Hong Kong and holds a financial license issued by the Hong Kong Securities and Futures Commission. It provides institutional clients with wealth management products covering cash management, public funds, private funds, virtual assets, etc.

✅ @Financial_Timex

Digital asset joint venture Marketnode receives Series A financing, led by HSBC

According to financial reports, digital asset joint venture Marketnode founded by Temasek received Series A financing, led by HSBC. The amount of financing has not been disclosed. The investors also include existing shareholder Temasek. It will be used to expand the scale of the Marketnode platform in key asset categories such as digital fixed income and structured products, participate in the upcoming Fundnode, and launch other tokenized asset products.

FTX Examiner recommends further investigation into several aspects of collapsed FTX Group

Financial reports, court-appointed examiner Robert J. Cleary issued a detailed report recommending further investigation into several aspects of the collapsed FTX Group, focusing specifically on FTX. US, its asset management practices, and Sullivan & Cromwell (S&C ) for legal representation.

Fidelity’s FBTC holdings exceeded 150,000 Bitcoins, and the market value of the holdings exceeded US$10 billion

According to financial reports, the daily net inflow of Fidelity’s spot Bitcoin exchange-traded fund FBTC yesterday was US$19.1224 million. The current total historical net inflow of FBTC has reached US$8.670 billion. According to the latest data from Dune, FBTC’s holdings have exceeded 150,000 Bitcoins. Currently, It touched 151,797 Bitcoins, and the market value of its holdings also exceeded US$10 billion, hitting US$10.3 billion. As of now, Fidelity is the third-largest spot Bitcoin ETF by holdings, behind Grayscale (287,701 Bitcoins) and BlackRock (275,756 Bitcoins).

Whale Panic Sells 7921 ETH for 29.7 Million USDT After Price Drop
According to Lookonchain, a whale panic sold 7921 ETH at $3754 each following an ETH price drop, converting the holdings into 29.7 million USDT.

*?? ?? China and Russia to deepen military relations and expand joint military exercises.*
"Moscow and Beijing will continue building confidence and deepening military cooperation, expanding the scope of joint exercises and combat training, conducting joint naval and air patrol missions on a regular basis, bolstering coordination and cooperation in bilateral and multilateral formats, and constantly increasing the potential and level of joint response to threats and challenges.

✅ @Financial_Timex