The U.S. Senate Banking Committee Advances the "Financial Transparency and Regulatory Compliance Act"

On September 16th, a U.S. appeals court denied U.S. President Trump's request to remove Federal Reserve Board member Lisa Cook. This marks the first time a president has made such an attempt since the Fed was founded in 1913. The ruling of the D.C. Circuit Court of Appeals indicates that Cook can temporarily remain at the Fed during the central bank's interest rate meetings on Tuesday and Wednesday. The Trump administration is likely to appeal to the U.S. Supreme Court. Furthermore, on Monday local time, Trump's nominee for the Fed board member, Moore, obtained a sufficient number of Senate confirmation votes, enabling him to join the other 11 voting members in the Fed's interest rate decision this week. (FX678)

On September 16th, the U.S. SEC declared that, upon a request from Trump, it is "placing at the forefront" the consideration of Trump's proposal to halt companies' quarterly earnings reports. (Golden Ten)

On September 16th, as reported by The New York Times, the newly established super PAC "Fellowship PAC" declared on Monday that it would allocate more than $100 million to back pro-crypto policy candidates. This represents the latest action by the digital asset industry to outmaneuver political rivals and prompt legislators to safeguard industry interests in Washington. It is worth noting that, in contrast to the current leading super PAC in the crypto industry, "Fairshake," this PAC shows a greater tendency to align with the Republican Party and former President Trump. According to filings, the treasurer of the Fellowship PAC is an executive from the Wall Street firm Cantor Fitzgerald, who was previously headed by Commerce Secretary Howard Lutnick. According to two sources with knowledge of the matter, supporters of this organization are anticipated to include the world's largest stablecoin issuer, Tether. This foreign company recently set up a U.S. entity, enabling it to fund

On September 16th, according to Bloomberg, the court documents disclose that the U.S. Securities and Exchange Commission (SEC) has reached a "principle agreement" with the cryptocurrency exchange Gemini in a lawsuit that has been ongoing for several years. The two parties are going to reach a full settlement in this lawsuit. However, it still needs to be reviewed and approved by the Commission. Both parties have also requested a suspension of all pending deadlines.

On September 16th, based on market data, the U.S. stock market closed on Monday. The Dow initially rose by 0.1%, the S&P 500 increased by 0.47%, and the Nasdaq rose by 0.94%, with the latter two reaching new closing highs. Cryptocurrency stocks showed mixed trends, including: Coinbase (COIN) rose by 1.23%, with a trading volume of $2.244 billion. Circle (CRCL) went up by 6.97%, and the trading volume was $1.640 billion. MicroStrategy (MSTR) dropped by 1.10%, and the trading volume was $3.102 billion. Bullish (BLSH) decreased by 1.47%, and the trading volume was $0.147 billion. Bitmine (BMNR) went down by 3.59%, and the trading volume was $2.687 billion. SharpLink Gaming (SBET) fell by 5.14%, and the trading volume was $0.366 billion. BTCS (BTCS) dropped by 1.67%, and the trading volume was $11.9958 million. BNB Network Company (BNC) decreased by 1.50%, and the trading volume was $2.79 million. ALT5 Sigma (ALTS) went down by 6.22%, and the trading volume was $31.1621 million.

On September 16th, Geoff Kendrick, the Global Head of Digital Asset Research at Standard Chartered Bank, pointed out that although there are concerns in the market about the decline in the mNAV (Market Value to Net Asset Value Ratio) of Bitcoin, Ethereum, and Solana treasuries, companies listing ETH are most likely to succeed. In the research report, Geoff Kendrick stated that when the mNAV is below 1, it means that Digital Asset Treasuries (DAT) may not be able to sustainably increase their holdings of underlying assets. Currently, DAT holds 4.0% of the total BTC network, 3.1% of ETH, and 0.8% of SOL. Their success or failure has a significant impact on the coin price. He expects investors to make distinctions based on DAT's cash-raising ability, treasury size, and the ability to generate income from holdings. Based on the income-generating feature of staking ETH and SOL, Kendrick believes that the mNAV of their DAT will be higher than that of Bitcoin DAT. He is particularly optimis