● Investors are cautious ahead of the Federal Reserve meeting, and the dollar remains stable
According to Jin10 data, the dollar remains stable as investors are cautious ahead of the Federal Reserve policy meeting later this week. Jefferies economist Mohit Kumar stated that Fed Chair Powell may emphasize the increasing uncertainty surrounding economic growth and inflation prospects. The tone may indicate a lack of urgency regarding rate cuts, but the Fed is prepared to respond if economic conditions necessitate it.
● Spot gold rebounds and breaks through $3400/ounce
According to BlockBeats, on June 17, spot gold rose above the $3400/ounce mark in the morning session. Shortly after Trump called for everyone to evacuate the Iranian capital Tehran, multiple explosions occurred in Tehran, and the air defense system was activated to intercept targets.
● ING: The Federal Reserve may take a cautious stance on interest rate cuts at Wednesday's meeting
According to Jin10 data, ING analyst Francesco Pesole stated that the Federal Reserve may take a cautious stance on interest rate cuts at Wednesday's meeting, but this may not provide much support for the dollar. The Fed may use the rise in oil prices due to the Israel-Iran conflict as a reason to resist Trump's calls for rate cuts.
However, after the attacks between Israel and Iran began, the dollar failed to maintain its initial upward momentum, which is a symptom of the market's distrust in the dollar. Even favorable events for the dollar, such as rising oil prices, combined with geopolitical tensions, could not prevent short-sellers from betting against the dollar when it attempted to recover.
● JPMorgan applies for JPMD trademark, covering crypto-related services
According to Wu's report, JPMorgan Chase Bank, N.A. has submitted an application to the USPTO to register the trademark 'JPMD', covering services related to digital asset trading, exchange, transfer, and payment. This includes virtual digital currencies, payment tokens, decentralized application tokens, and blockchain currencies. The application also covers electronic funds transfers, securities brokerage, real-time token trading, custodial services, and secure online financial transactions.
According to Jin10 data, Ethenea analyst Luca Pesalini stated that the focus of the Federal Reserve's meeting this week is on central bank independence rather than the path of interest rates. Trump announced he would appoint a successor to Fed Chair Powell, even though Powell has nearly a year left in his term. This decision could lead to conflicting monetary policy signals between the Fed officials and the successor, especially if the successor publicly advocates for rate cuts. Pesalini pointed out that the real challenge lies in the political interference in monetary policy communication.
● Strategy increased its holdings by 10,100 bitcoins last week
According to Deep Tide TechFlow, on June 16, official news stated that Strategy increased its holdings by a total of 10,100 bitcoins last week.
● Tron may go public in the U.S. through a reverse merger
According to Foresight News, sources revealed that Tron could soon go public in the U.S. Market regulators have agreed to suspend the fraud investigation into several of its companies. Tron will go public through a reverse merger with Nasdaq-listed SRM Entertainment. The deal is being orchestrated by the investment bank Dominari Securities, which is linked to the Trump family.
● CoinShares submits Solana spot ETF application to the SEC
According to PANews, Bloomberg ETF analyst Eric Balchunas disclosed that CoinShares has submitted S-1 documents related to the Solana spot ETF to the SEC. The number of institutions participating in the Solana spot ETF competition has reportedly reached 8. Previously, on June 11, it was reported that the COINSHARES SOLANA ETF was registered in Delaware.
