ME News, January 29 (UTC+8), according to CoinMarketCap market data, ETH has fallen below 3000 USD, currently quoted at 2999.57 USD, with a 24H drop of 0.3%. (Source: ME)
ME News message, January 29 (UTC+8), according to CoinMarketCap market data, BTC has fallen below 89000 USD, currently quoted at 88923 USD, with a 24H decline of 0.6%. (Source: ME)
ME News message, January 29 (UTC+8), Federal Reserve Chairman Powell responded on Wednesday to questions about what he would tell his successor. He stated that he would advise the next Federal Reserve Chair not to get involved in political matters. Powell said at a press conference: “Don’t engage in electoral politics, don’t get caught up in electoral politics.” He added: “Our window into democratic accountability is Congress. Engaging with Congress and the public is not a passive burden but an active routine obligation. If you want democratic legitimacy, you must earn it through interaction with our elected overseers.” (Jin Shi) (Source: ME)
ME News Message, January 29 (UTC+8), CME "Federal Reserve Watch" shows that the probability of the Federal Reserve cutting rates by 25 basis points by March is 11.9% (previously 15.5%), the probability of maintaining the interest rate is 88.1% (previously 84.2%), and the probability of a cumulative cut of 50 basis points is 0.1% (previously 0.4%). By April, the probability of a cumulative cut of 25 basis points is 24.5%, the probability of maintaining the interest rate is 73.5%, and the probability of a cumulative cut of 50 basis points is 2%. (Source: ME)
ME News message, January 29 (UTC+8), Federal Reserve Chairman Powell stated that the major part of the higher tariffs' transmission to consumer prices over the past year is about to be completed. Powell said on Wednesday: "Our expectation is that the impact of tariffs on commodity prices will peak and then begin to decline, provided that no new significant tariff increases are initiated. This is also the situation we expect to see this year." Powell emphasized (as he has said many times before) that he views tariffs as a one-time price increase rather than a channel that triggers persistent inflation. (Source: ME)
ME News message, January 29 (UTC+8), Monex USA Washington Trading Director Juan Perez stated that, in the context of market uncertainty, it is reasonable for the Federal Reserve to remain cautious and not adjust interest rates for the time being. There is still a lack of consensus among the committee members, so this decision helps to alleviate some of the pressure on the dollar since January 20. Perez believes that the Federal Reserve's policy path will remain quite difficult to predict. (Source: ME)
ME News news, January 29 (UTC+8), the Federal Reserve kept interest rates unchanged as expected and indicated that its decision in March will depend on upcoming data. TD Securities Wealth Management analyst Sid Vaidya stated that the statement acknowledged strong GDP growth and a stable unemployment rate, raising questions about how much attention the Federal Reserve will pay to still high inflation. A recent series of rate cuts has supported employment. Therefore, Sid Vaidya is skeptical that the latest statement may be a signal that the Federal Reserve will refocus on inflation. (Jinshi) (Source: ME)
ME News message, January 29 (UTC+8), Federal Reserve Chairman Powell: Good Afternoon. The foundation of the U.S. economy is solid, and the economy expanded at a steady pace last year. There have been some signs of stabilization in the unemployment rate. The current policy stance is appropriate. The government shutdown likely hindered economic growth in the fourth quarter but will be reversed. (Jin Shi) (Source: ME)
ME News message, January 29 (UTC+8), the Federal Reserve maintained its position as expected. After the announcement of the decision, the interest rate futures contracts indicate that the probability of a rate cut in April (the last meeting during Powell's tenure as Fed Chair) is 28%, a slight decrease from before; while the probability of a rate cut in June has risen to 64%, an increase from before, and it is very likely that a second rate cut will occur within this year. (Jinshi) (Source: ME)
ME News message, January 29 (UTC+8), the Federal Reserve today maintained interest rates, citing that inflation remains at a high level and economic growth is robust. The policy statement provided almost no clues about when to lower rates again. The Federal Reserve decided to keep the benchmark interest rate in the range of 3.50%—3.75% with a vote of 10 in favor and 2 against. The cryptocurrency market showed no significant fluctuations after the interest rate decision was announced, with Bitcoin continuing to fluctuate around $89,500. Spot gold and silver prices generally rose, with gold currently reported at $5296.87 per ounce, a 24-hour increase of 2.32%; silver currently reported at $113.31 per ounce, a 24-hour increase of 0.91%. (Source: ME)
ME News message, January 29 (UTC+8), Pepperston analyst Michael Brown stated that the policy statement has seen little change, although the assessment of economic conditions has been upgraded to reflect a 'robust' growth pace. He indicated that attention will shift to the press conference, where Federal Reserve Chairman Powell may mention that the current federal funds rate is within a reasonable estimate range of the neutral rate, but he may firmly avoid any questions about its status after May. (Jinshi) (Source: ME)
ME News message, January 29 (UTC+8), the market can pay attention to a slightly professional technical detail: although the entire Federal Open Market Committee (FOMC) votes on the benchmark federal funds rate, only seven members of the Board of Governors of the Federal Reserve will vote on the Interest on Reserve Balances (IORB) rate. This rate typically fluctuates in sync with the federal funds rate. Today, all seven governors voted to keep this rate unchanged, which is usually the norm, even if some governors have dissenting opinions on the federal funds rate decision. However, there were concerns that those who are eager to push for rate cuts might express this tendency in the vote on the Interest on Reserve Balances rate. But that was not the case today. (Source: ME)
ME News Message, January 29 (UTC+8), UBS reiterated its target of 7,700 points for the S&P 500 index in a report released on Wednesday, believing that a strong macro backdrop will boost the U.S. stock market. UBS Chief Investment Officer and Global Equity Head Ulrike Hoffmann-Burchardi stated that the Federal Reserve will likely continue to cut interest rates in the future, although it is expected to hit the pause button in today's easing cycle. She noted that as more evidence of a weakening U.S. labor market emerges and inflation remains controlled, the Federal Reserve may be able to cut rates further. (Source: ME)
ME News Message, January 29 (UTC+8), "The Fed's mouthpiece" Nick Timiraos stated that in the outcome of this rather suspenseful meeting, the voting position of Fed Governor Waller may attract particular attention. Waller is one of the candidates Trump is considering to replace Powell as the chairman of the Fed. If he votes in favor of a rate cut (which aligns with Trump's previous statements that he would not choose anyone who opposes his rate cut demands), it may allow him to continue his originally slim prospects for competition; if he votes to maintain interest rates unchanged alongside the majority of officials, it may strengthen his image as an independent voice, but he may also risk losing the position. (Source: ME)
Data: The number of daily active validators on Solana falls below 800, down over 65% from the peak in 2023
ME News report, January 29 (UTC+8), ME News report, January 29 (UTC+8), The number of daily active validators on Solana has fallen below 800, returning to 2021 levels. This data represents a decline of over 65% from the peak of approximately 2,500 validators at the beginning of 2023. The transaction volume of validator votes has decreased from about 300,000 per day to 170,000, a drop of 40%. The main reason for the loss of validators is changes in economic benefits, including the declining support for voting costs provided by the Solana Foundation Delegation Program and the staking matching policy over time. Despite the shrinkage in the number of validators, non-voting transaction volumes initiated by users, such as DApp interactions and token transfers, remain stable at around 100,000,000 transactions per day. (Source: ME)
ME News message, January 28 (UTC+8), BitMine Chairman Tom Lee stated that Agentic AI will face security issues in the future, and the Ethereum blockchain may become the solution. Tom Lee pointed out that agent systems will operate outside the existing systems' "walled gardens," and smart contract blockchains can prove the origin of instructions and record the final settlement of micro-payments. Ethereum is the only smart contract platform that has maintained 100% uptime since its creation, and this stability is crucial. BitMine will become the largest single validator through MAVAN. (Source: ME)
The AI industry seeks to replicate the successful lobbying experiences of cryptocurrency and invest in midterm elections
ME News, January 28 (UTC+8), the AI industry is emulating the lobbying strategies of the cryptocurrency industry during the 2024 election cycle, aiming to influence the 2026 midterm elections and AI legislation through super PACs. The Leading the Future super PAC was established last summer, receiving support from Silicon Valley investors such as Marc Andreessen, Ben Horowitz, Greg Brockman, Joe Lonsdale, and Perplexity. Meta also established a super PAC focused on AI regulation at the end of last year. Although Pew Research and Gallup polls show that retail investors are concerned about the negative impacts of AI on employment and privacy, the AI super PAC plans to promote innovative policies by supporting pro-AI candidates. Brian Rice, Vice President of Public Policy at Meta, stated that the company will support state-level candidates who advocate for U.S. technological leadership. Additionally, LTF has publicly opposed New York's RAISE Act, claiming such regulations will undermine the U.S.'s leading position in the AI field. Currently, although Trump is attempting deregulation through executive orders, the RAISE Act was signed into law by New York Governor Kathy Hochul in December. (Source: ME)
ME News message, January 28 (UTC+8), U.S. Treasury Secretary Besant expressed views on multiple topics. Regarding the next Federal Reserve Chair candidate, he stated that the range of candidates has neither been narrowed nor expanded and revealed that he had a lengthy discussion on the issue with Trump while on the plane. When discussing the Federal Reserve's monetary policy stance, Besant emphasized that interest rate decisions are made entirely independently by the Federal Reserve and expressed hope that it can maintain an open policy mindset. On exchange rates, he reiterated that the U.S. has long pursued a strong dollar policy, clearly stating that there will be no intervention in the foreign exchange market to support the yen, and pointed out that a reduction in the trade deficit should boost the dollar. Regarding the S&P 500 index's first breakthrough of 7000 points, he believes this reflects that current growth-promoting policies have achieved positive results. (Source: ME)
Robinhood CEO: Plans to open 24/7 trading of stock tokens and DeFi services in the coming months
ME News: On January 28 (UTC+8), Robinhood CEO Vlad Tenev stated that in the coming months, Robinhood plans to open 24/7 trading of stock tokens and DeFi services, allowing investors to self-custody their stock tokens and engage in lending, staking, and other operations. In Europe, Robinhood has launched over 2000 tokens representing publicly listed U.S. stocks. These tokens enable European traders to invest in U.S. stocks and receive dividend income. It was noted that Robinhood is committed to promoting real-time settlement of U.S. stock trading, and has already shortened the settlement period to T+1. Tokenization can facilitate lower costs and round-the-clock trading. In addition to the many advantages such as reduced costs, native splits, and 24/7 trading, putting stocks on-chain in a tokenized form can also benefit from the real-time settlement characteristics of blockchain technology. The absence of lengthy settlement periods significantly reduces systemic risk and alleviates the pressure on clearing houses and brokers, allowing customers to trade freely anytime and anywhere. (Source: ME)