Federal Reserve Governor Jefferson: No Need to Hurry to Further Cut Interest Rates, Strong Economy Makes Caution Appropriate

July 8th. Europe's first Bitcoin reserve company, The Blockchain Group, managed to raise around 3 million euros (equivalent to approximately 3.52 million US dollars) in order to augment its holdings of BTC.

July 8th: In the afternoon, the Hong Kong stock concept stocks related to stablecoins witnessed a continuous rise. Guotai Junan International saw an increase of more than 18%, OSL Group rose nearly 14%, MultiTech Group went up by more than 9%, and China Everbright Holdings increased by more than 5%.

On July 8th, the cryptocurrency off-chain settlement platform BridgePort concluded a $3.2 million seed round of financing. It was led by Further Ventures and involved Virtu, XBTO, Blockchain Founders Fund, Fun Fair Ventures, and Humla Ventures. BridgePort offers a middleware solution that links trading platforms, custodians, and trading firms. Its goal is to simplify fund allocation and post-trade processes by addressing issues like the requirement for pre-funding, credit risk, and inefficient settlement through real-time messaging and collateral management.

On July 8th, as per Coindesk, Eric Trump, the son of former US President Donald Trump, is scheduled to deliver a speech at the BTC Asia conference which is slated to be held in Hong Kong in August of this year, thereby maintaining the Trump family's active engagement in the cryptocurrency conference arena. Hong Kong is in the process of advancing several pieces of cryptocurrency-friendly legislation through its Legislative Council. Even prior to the US passing the GENIUS Act, Hong Kong had introduced local stablecoin legislation. Earlier this year, Eric Trump gave a speech at the Consensus conference held in Toronto. He extolled Bitcoin's liquidity, regarded it as being superior to real estate, and referred to it as "digital gold." He also expressed his support for the crypto community, claiming that the same set of people who had suppressed the cryptocurrency industry during the Biden administration had also targeted his father, Donald Trump.

On July 8th, based on CME's "FedWatch" data, the likelihood of the Fed maintaining the interest rate unchanged in July is 94.8%, while the probability of a 25-basis-point rate cut is 5.2%. The probability of the Fed keeping the interest rate unchanged in September is 35.9%. The cumulative probability of a 25-basis-point rate cut is 60.9%, and the cumulative probability of a 50-basis-point rate cut is 3.2%.

July 8th. As per official channels, the Sui chain DeFi project NAVI Protocol declared that subsequent to forging a partnership with OKX, an exclusive xBTC liquidity pool has been launched on the Sui network. Presently, the incentive measures for the xBTC liquidity pool have been initiated on NAVI Protocol and have been broadened to encompass users who provide xBTC and borrow SUI. It was originally restricted to borrowing USDC. Now, by supplying xBTC through OKX Earn and borrowing SUI or USDC on NAVI, one can fully engage in this incentive activity. Note: Supplementary incentives are solely provided through OKX Earn. Therefore, it is necessary to utilize the OKX App to make deposits on NAVI.