Selected key news
1. The crypto market continues to decline this morning, with Ethereum falling to $4100 and Bitcoin dropping below $113,000.
2. The previously strong cryptocurrencies are experiencing a widespread decline, with ZORA dropping over 19% in one day.
3. In the past 24 hours, the entire network has liquidated $532 million, with Ethereum being the most liquidated cryptocurrency.
4. The Bitcoin DeFi protocol Lombard will launch a community round token sale on Buidlpad, with a valuation of $450 million.
5. ALT5 Sigma clarifies the report of being 'investigated by the SEC': Jon Isaac is not an executive of the company.
Articles & Threads
1. (The financial report has turned from loss to profit, and RWA's first stock Figure is about to be listed.)
Yesterday, Figure Technology Solutions (FTS) – a fintech company founded by SoFi co-founder and former CEO Mike Cagney – publicly submitted an IPO application to the U.S. Securities and Exchange Commission (SEC), planning to trade on Nasdaq under the code FIGR, officially starting the listing process. Unlike traditional financial institutions that follow the usual practices, Figure has been built on blockchain from its inception, reshaping the financial paradigm of mortgages and crypto-backed loans with blockchain.
2. (Will the market definitely rise after the interest rate cut in September?)
The interest rate cut in September this year seems highly likely, and the biggest question now is: will the market rise after the rate cut? Based on historical experience, the answer is likely yes, but it doesn't mean it will rise immediately after a rate cut. In the market's intuition, 'rate cut' is almost equivalent to a signal of liquidity release and rising asset prices. However, if we extend the timeframe to the past thirty years, we find that the Federal Reserve's interest rate cuts are far from simple. Sometimes it is a preventive measure to avert potential problems, and sometimes it is an emergency relief to support the economy during a crisis.
Market data
Daily overall market funding heat (reflected by funding rates) and token unlocks.
Data source: Coinglass, TokenUnlocks
Funding Rate
Token unlock
