1. After Powell's speech, the probability of the Federal Reserve lowering interest rates in September rises to 91.1%.
According to CME's 'FedWatch': the probability of the Federal Reserve maintaining interest rates in September is 8.9%, while the probability of a 25 basis point rate cut is 91.1%. The probability of maintaining interest rates in October is 4.3%, the cumulative probability of a 25 basis point rate cut is 48.9%, and the cumulative probability of a 50 basis point rate cut is 46.8%. -Original
2. Trump threatens to fire Federal Reserve Board member Cook, who responds that he will not resign.
On August 22, Federal Reserve Board member Cook responded to Trump's firing threat, stating he 'has no intention of resigning due to threats' and will not yield to external pressure. Previously, Trump stated that if Federal Reserve Board member Cook did not resign, he would fire her. -Original
3. The U.S. House of Representatives adds a CBDC prohibition clause to the defense bill.
The U.S. House of Representatives has added a central bank digital currency (CBDC) prohibition clause to its 2026 National Defense Authorization Act, banning the Federal Reserve from developing, testing, or issuing any central bank digital currency. -Original
4. JPMorgan reaches a 330 million USD settlement with Malaysia over the 1MDB case.
JPMorgan will pay 1.4 billion ringgit (approximately 330 million USD) to Malaysia to resolve all existing and potential claims related to 1MDB. According to the agreement, JPMorgan makes the payment on the condition of 'not admitting any liability,' and both parties are prohibited from bringing lawsuits on this matter again. Additionally, JPMorgan's Swiss branch was fined 3 million Swiss francs (approximately 3.7 million USD) for aiding in the laundering of 1MDB funds. The 1MDB scandal involves over 4 billion USD in funds, with investigations spanning ten years and multiple countries. -Original
5. The SEC's cryptocurrency task force is conducting a tour to gather feedback from various parties.
On August 23, according to official news, the U.S. Securities and Exchange Commission (SEC) cryptocurrency special task force is conducting a nationwide tour, holding a series of roundtable meetings. The cryptocurrency task force hopes to listen to groups that were previously unable to attend the roundtable in Washington and voices that have historically been underrepresented in other policy-making processes. The task force is aware that any regulatory framework will have far-reaching effects, so it seeks to ensure that communication and exchanges are as comprehensive as possible. The schedule for the cryptocurrency task force is as follows: August 4: Berkeley, California August 19: Boston September 4: Dallas September 15: Chicago September 25: New York City October 2: Los Angeles October 24: Cleveland October 29: Scottsdale, Arizona November 12: New York City December 5: Ann Arbor, Michigan -Original
6. The Philippines has proposed a bill to establish a strategic Bitcoin reserve.
According to @pete_rizzo_, the Philippines has just proposed a bill aimed at establishing a strategic Bitcoin reserve. -Original
7. South Korea's top banks discuss collaborating with Tether and Circle on stablecoin operations.
In a separate meeting, executives from Shinhan Bank, Hana Bank, KB Financial, and Woori Bank will discuss the role of stablecoins pegged to the US dollar and South Korean won in the country. -Original
8. BlockFi's 13.2 million USD settlement is about to be approved, providing compensation to investors.
BlockFi's 13.2 million USD class action settlement is about to be approved, with the last dissenting party having withdrawn their opposition. This settlement involves approximately 89,000 U.S. users who held BlockFi interest accounts between 2019 and 2022. BlockFi collapsed due to exposure to FTX, and this settlement provides compensation to affected investors. -Original
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