The probability of the Federal Reserve raising interest rates in October has risen to 69.7%.

All Democratic members of the U.S. Senate Banking Committee have sent a letter to Chairman Tim Scott, requesting a public hearing on prediction markets, noting the committee’s oversight responsibilities for such markets. On the same day, Scott and the committee’s Republican members held a private meeting with Kalshi CEO Tarek Mansour to discuss securities-linked prediction market products, investor protection, and regulatory issues. Democratic lawmakers contend that some prediction market products tied to corporate performance metrics may fall under SEC jurisdiction, so the committee should conduct a transparent, bipartisan review. Currently, the CFTC is the primary regulator of prediction markets, but U.S. states remain in disputes with it over regulatory authority for sports event contracts. (The Block)

Per GMGN market data, the Solana-based meme coin Super Inu (SI) briefly topped $10 million in market capitalization, now trading at $8.05 million with a 24-hour gain of 176%. Earlier, news emerged that during his UN General Assembly speech, Trump proposed renaming artificial intelligence to "Super Intelligence", stating that all U.S. documents would use "Super Intelligence" to refer to AI. BlockBeats reminds users that related tokens have small market capitalization and high price volatility, so investors should exercise caution.

The U.S. government is considering promoting the overseas use of dollar-denominated stablecoins to consolidate the U.S. dollar’s status as the global reserve currency and boost demand for U.S. Treasury bonds. People familiar with the matter said the U.S. government is considering supporting stablecoin-related initiatives through measures such as forming joint ventures with private enterprises, with agencies including the U.S. Department of the Treasury, the State Department, and the U.S. International Development Finance Corporation (DFC) potentially participating. (Bloomberg)

According to Bitget's market data, today's Nikkei 225 index opened 0.6% higher, while South Korea's stock market is closed today due to a holiday.

Periodic transaction reports released by the U.S. Office of Government Ethics (OGE) reveal that Trump reported buying $1,001 to $15,000 worth of Coinbase Class A shares on July 24, plus Strategy Class A shares valued at $1,001 to $15,000 on July 24 and $50,000 to $100,000 on July 27. Earlier, he sold $1,001 to $15,000 worth of Strategy Class A shares on July 8. The report further shows that on July 29, he sold $15,000 to $50,000 each of Bitcoin mining firms CleanSpark and MARA stocks. The White House has repeatedly responded that Trump’s stock and bond portfolio is independently managed by a third-party financial institution, and Trump and his family cannot direct, influence, or provide input on specific investments or transaction timings.

Overnight, unexpectedly strong PMI data sharply boosted market bets that the Federal Reserve will maintain a tighter stance for longer, coupled with factors such as uncertainty over US-Iran tensions, leading to broad declines in US stocks and crypto assets. The three major US stock indexes closed lower: the Dow Jones Industrial Average fell 0.68%, the S&P 500 dropped 0.75%, and the Nasdaq slid 1.1%. According to market data from BIT (bit.com), among notable stocks, SK Hynix fell 3%, Meta rose 1%, and Amazon declined 2%. Among crypto-related stocks, Securitize, which benefits from the SEC’s stock token exemption policy, surged 10.46% against the trend, while other crypto treasury companies saw declines of varying degrees: MSTR fell 3.07%, BMNR dropped 4.52%, and BNC slid 3.63%. The PMI data, released Wednesday, far exceeded expectations, marking the fastest expansion pace since 2021. As a result, the 10-year US Treasury yield rose 14 basis points in a single day, breaking through the 5.00% threshold; the 5-year yield hit its highest level since 2007 during trading, while the 30-year yield climbed to its peak since 2004. The interest rate swap market has fully priced in expectations of three rate hikes over the next year, with some hedge positions even reflecting the possibility of a fourth hike. According to HTX market data, Bitcoin accelerated its sharp decline after yesterday’s US stock market opened, briefly falling below $84,000 before consolidating sideways, and is currently trading at $84,417.10.