AICoin Daily Report (August 8)

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13 hours ago

1. Trump Signs Executive Order Allowing Pension Funds to Invest in Cryptocurrency

White House Press Secretary Levitt announced that Trump will sign an executive order today allowing 401(k) pension plans to invest in cryptocurrency. -Original

2. Fed's Rate Cut Probability Reaches 92.7% for September, October Cumulative Rate Cut Expectations Rise

According to CME's "FedWatch" data, the probability of the Fed cutting rates by 25 basis points in September is 92.7%, while the probability of keeping rates unchanged is 7.3%. Additionally, the probability of a cumulative rate cut of 50 basis points in October is 61.5%, and the probability of a 25 basis point cut is 36.1%. -Original

3. Trump Signs Executive Order to End "Chokepoint" Actions, Protect Banking Services for the Crypto Industry

Former President Trump signed an executive order on Thursday prohibiting federal regulators from blocking banks from providing services to the crypto industry on the grounds of "reputational risk." The White House stated that previous unfair practices have harmed public trust in the financial system and caused economic harm to law-abiding citizens. This move is seen as a significant step in ending the "Chokepoint 2.0" initiative, which "choked off" bank accounts for the crypto industry. Regulatory bodies like the Fed have committed to no longer assessing client relationships based on "reputational risk." Several Republican lawmakers have expressed support for this move, stating that the executive order helps curb financial discrimination and restore regulatory transparency. -Original

4. Ripple Acquires Stablecoin Platform Rail for $200 Million, Expanding Ecosystem

Ripple announced the acquisition of the stablecoin platform Rail for $200 million. -Original

5. Paxos Reaches $48.5 Million Settlement Agreement Over Anti-Money Laundering Issues with Binance

New York financial regulators announced that Paxos Trust has reached a $48.5 million settlement agreement with regulators over anti-money laundering and due diligence issues related to Binance. -Original

6. SharpLink Increases Ether Holdings to $2 Billion, Continues Investment in Crypto Assets

As of the latest purchase, the Minneapolis-based company holds 521,939 ETH. -Original

7. Brazilian House of Representatives to Discuss National Bitcoin Reserve Bill on August 20

Bitcoin.com News reports that the Brazilian House of Representatives will discuss Bill No. 4501/2024 on August 20, aimed at establishing a national Bitcoin reserve. -Original

8. Scenius Capital Completes $20 Million Crypto Venture Fund Raise

Scenius Capital co-founder Ben Jacobs stated that the company has completed a slightly oversubscribed $20 million financing, which will be used to invest in emerging crypto venture funds. -Original

The above is a selection of hot topics from the past 24 hours. For faster news, please download AiCoin (aicoin.com).

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