Community Announcement: The social protocol Firefly will be releasing its token soon
On September 6th, based on the disclosures of multiple KOLs, the social protocol Firefly is scheduled to release its token shortly.
It is reported that Firefly, a social protocol, is a core project within the Mask Network ecosystem. It is a decentralized social aggregator designed to bridge Web2 and Web3 social networks, enabling users to explore on-chain activities and social interactions through a unified interface. Firefly was developed by Mask Network and launched around 2022. In February 2025, it spun off as an independent project from MaskDAO to further expand its team and innovation scope.
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J.P. Morgan Strategist: U.S. Economic Growth is Gradually Slowing, Does Not Believe Fed Rate Cuts Will Fuel Growth
On September 6th, David Kelly, the Chief Global Strategist of JPMorgan Asset Management, stated in a recent interview with CNBC that the weak August jobs report and other economic data suggest that the weakening trend of the US economy is intensifying. "Although the current economy is not in a recession, it is gradually slowing down. All data consistently show that this already stumbling economy - like a tortoise always moving slowly forward - is now almost exhausted."
Kelly also believes that given the deterioration of the job market data, the Fed's expected rate cut will not be able to boost the overall economy. "I see today's stock market rise, which clearly reflects the market's expectation of an imminent rate cut. However, this does not solve the fundamental problem. The government needs to realize that if they cut rates now, it will reduce the interest income of retirees while sending more rate cut signals to the market. In that case, borrowers have no reason to borrow more mone
9 minutes ago
Mizuho Bank: The Fed Has Been Realistically "Face-Slapped," Easing Cycle Set to Begin
September 6th. Mizuho Bank declared that the U.S. August non-farm payroll report further verified the weakening tendency in the labor market. The growth in employment, working hours, and income has regressed to the levels during the pandemic period. Regardless of inflation, it is almost certain that the Federal Reserve will cut interest rates at the September meeting. A 25-basis-point rate cut is almost a certainty. However, if August inflation is weaker than expected, a 50-basis-point cut is more likely. The Fed's previous inflation forecasts have been "slapped in the face" by reality, while its 2026 unemployment rate forecast is at risk of not being achieved. They were overly pessimistic about inflation before and overly optimistic about the labor market. It is expected that the Fed will initiate a round of sustained easing cycle, aiming to lower interest rates to its perceived "neutral level" by March 2026, which is around 3%. The new Fed chair is likely to further increase stimulus
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This week, the US Bitcoin spot ETF saw a net inflow of $250 million.
On September 6th, according to data from Farside Investors, the net inflow of the U.S. Bitcoin spot ETF this week was $250 million. It includes:
BlackRock IBIT: +$4.343 billion
Fidelity FBTC: +$25.1 million
Bitwise BITB: -$76.9 million
ARK ARKB: -$81.5 million
BTCO: +$2.2 million
Franklin EZBC: -$3.2 million
VanEck HODL: -$13.2 million
Grayscale GBTC: -$69.7 million
Grayscale BTCM: +$33.2 million
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Do Kwon's Appeal for the Return of $19.4 Million SGD Mansion Deposit Rejected by Singapore Court
On September 6th, according to the report in The Straits Times, Do Kwon, the co-founder of the now-defunct blockchain company Terraform Labs, had his request to recover about 50% of the purchase price of a penthouse on Orchard Road rejected by the High Court of Singapore.
Five months prior to the collapse of his cryptocurrency TerraUSD and Luna in 2022, Do Kwon had his eyes set on the $38.8 million Sculptura Ardmore apartment. High Court documents reviewed by The Straits Times show that he had selected a 7,600 square feet (approximately 706 square meters) duplex four-bedroom penthouse on the 19th floor of the apartment, which was one of only three penthouses in the development.
Do Kwon had paid around $19.4 million (about 50% of the total purchase price) through an option fee and subsequent payments. However, the deal fell through, and the property was subsequently resold to another party for $34.5 million.
It is reported that Sculptura Ardmore was launched by develope
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