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Is the Constraint of Reputation and Trust Still Effective in an Increasingly Murky Market?
Share link:In this post: Trump launched a new crypto venture where he profits early and his supporters lose money again. His past projects—Truth Social, $Trump, $Melania, and NFTs—left late investors with major losses. The new WLFI token offers no profits or ownership but funnels 75% of sale proceeds back to Trump.
Share link:In this post: Jerome Powell hinted at a possible September rate cut but admitted the Fed is facing a “challenging situation.” Fed officials are divided over inflation, weak hiring, and whether to cut rates now or wait. Trump threatened to fire Governor Lisa Cook and continues to pressure the Fed to lower rates.
Share link:In this post: Only 37% of Americans trust Powell to manage the economy, near record-low levels. Powell hinted at upcoming interest rate cuts during his final Jackson Hole speech. Trump attacked Fed official Lisa Cook and installed loyalists to reshape the central bank.
- 22:01Federal Reserve's Harker Warns of Inflation Risks, Urges Caution in Withdrawing Restrictive PoliciesJinse Finance reported that Cleveland Federal Reserve President Loretta Mester said on Monday that with inflation still above the Fed's 2% target and remaining stubborn, the Fed needs to be "very cautious" when removing restrictive monetary policy. "I think we are only a short distance from the neutral rate, and if we remove this constraint on the economy, I worry about overheating again," said Mester, who is one of the most hawkish officials and does not have voting rights this year. She did not explicitly state whether she supports last week's rate cut. She emphasized that inflation remains her major concern, while the job market is still close to the Fed's maximum employment goal. Mester expects the unemployment rate may rise slightly this year but will decline again soon after. "In terms of inflation, we are further off target, missing by a full percentage point. And we have failed to meet the target for four and a half consecutive years, and are expected to continue missing it in the coming years."
- 21:01Rainbow plans to launch its native token RNBW in Q4Jinse Finance reported that the non-custodial crypto wallet Rainbow has announced it will launch its native token RNBW by the end of this year. This release follows Consensys founder Joe Lubin's confirmation that MetaMask is preparing the MASK token. The Rainbow team stated that RNBW is part of "Phase Three," and in the future, features such as DeFi portfolio management, multi-chain support, real-time price and instant balance updates will be launched, along with perpetual contract trading supported by Hyperliquid. Rainbow previously launched a points program in 2023 to attract users and completed an $18 million Series A funding round in 2022, led by the fund Seven Seven Six founded by Reddit co-founder Alexis Ohanian.
- 20:12Data: In the past 24 hours, total liquidations across the network reached $1.795 billion, with long positions liquidated for $1.658 billion and short positions for $138 million.ChainCatcher news, according to Coinglass data, in the past 24 hours, the total amount of liquidations across the network reached $1.795 billions, with long positions liquidated for $1.658 billions and short positions liquidated for $138 millions. Among them, bitcoin long positions were liquidated for $287 millions, and bitcoin short positions for $12.7273 millions. Ethereum long positions were liquidated for $496 millions, and ethereum short positions for $27.6388 millions. In addition, in the past 24 hours, a total of 426,136 people were liquidated globally, with the largest single liquidation order occurring on a certain exchange - BTC-USDT-SWAP, valued at $12.7406 millions.