Federal Reserve Powell: U.S. Economy Performing Well, Inflation Faces Upside Risks

On November 21st, according to the monitoring of OnchainLens, in the past 6 hours, the U.S. government has transferred some seized funds from old addresses to new wallets. These transfers include: - FTX–Alameda: 15,131,604 TRX, with a value of $4.2 million; 545,095 FTT, worth $348,940; 744,213 KNC, valued at $206,850; and 273 FET, which is worth $84. - Bitfinex Hacker: 1,066 WETH, with a value of $3.01 million.

On November 21st, Cathie Wood and Ark Invest once more purchased 380,244 shares of Bitmine (BMNR) today. Previously, BlockBeats reported that this Wednesday, Ark Invest bought $17.7 million worth of Circle stock, $16.9 million worth of Bullish stock, and $7.6 million worth of Bitmine stock through its three ETFs. They enhanced their holdings of Coinbase, Circle, and Bullish on Tuesday. And on Monday, they increased their Bullish holdings by approximately $10.18 million.

On November 21st, Faraday Future announced that QLGN, a Nasdaq-listed company which was strategically invested by FFAI, has been renamed AIxCrypto (AIXC) and disclosed its new three major business areas. Among them, AIXC will engage in Stock Tokenization RWA business. The first project is the stock tokenization of FFAI. The company intends to purchase the first batch of FFAI stocks worth $5 million through an independent third party to assist Faraday Future in obtaining Web3 financing at a lower cost compared to Web2.

On November 21st, the Investigative Committee of the Argentine Congress released its final report, alleging that President Mile provided "key cooperation" during the event of the LIBRA token collapse and recommended that Congress assess whether this constitutes malfeasance. Mile had previously promoted the LIBRA token on his personal social media accounts. Subsequently, 8 wallets associated with the LIBRA team cashed out $107 million, resulting in losses for 114,410 investor wallets. The investigation revealed that he had also promoted a cryptocurrency called the KIP Protocol. After its launch in December 2024, there was a situation where its liquidity pool was drained. The committee believes that this shows the government's intention to bypass regulatory bodies such as the National Securities Commission (CNV) to facilitate these projects. Currently, Mile and American entrepreneur Hayden Davis, along with other founders, are facing judicial investigations in Argentina and a class-act

On November 21st, as monitored by OnchainLens, the whale address that "previously borrowed coins to short 66,000 ETH" once again purchased $1.6277 billion worth of ETH from Binance and continued to deposit it into Aave V3. Just 5 days prior to this, the entity had deposited 70,000 ETH (valued at $2.2272 billion) into Binance. Currently, it holds a total of 432,718 ETH, which is approximately valued at $1.23 billion based on the market price.

On November 21st, when Federal Reserve officials discuss the timing of a rate cut or whether to cut rates at all, concerns about financial market stability, including the risk of a sharp decline in asset prices, are emerging as a new theme. Federal Reserve Governor Lisa Cook outlined a series of financial system risks, such as the rapid growth of the private credit market, hedge fund trading in the government bond market, and the use of generative artificial intelligence in algorithmic trading. She also suggested that she would not be surprised by a collapse in asset prices that are at historically high levels. Cleveland Fed President Beth Hamack reiterated her opposition to further rate cuts, citing persistently high inflation and stating that she believes that accommodative financial conditions are another reason to resist cutting rates. Federal Reserve Governor Michael Barr said on Thursday that the Fed needs to be cautious when considering further rate cuts. Meanwhile, Chicago F