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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.
- 10:10Data: The whale who previously lost $3.3 million going long on ETH has re-entered the market, opening a $17.4 million ETH long position.According to ChainCatcher, monitored by Lookonchain, the whale address 0x76AB, after losing $33 million from longing ETH, has re-entered the market—opening an 8x leveraged long position with 5,524 ETH (worth $17.4 million).
- 10:09Data: "Machi" has continuously added 300 ETH long positions in the past 3 hours, with the position value rising to $11.82 millionAccording to ChainCatcher, monitored by HyperInsight, "Maji" has continuously increased their position by 300 ETH long orders in the past 3 hours. As of press time, their 25x leveraged Ethereum long position has risen to $11.82 million, with a total position of 3,750 ETH.
- 10:05Do Kwon may still face a second trial in South Korea after being sentenced to 15 years in the USJinse Finance reported, citing Cryptonews, that Terraform Labs co-founder Do Kwon, after being sentenced to 15 years in prison by a U.S. federal court in Manhattan for orchestrating the $40 billion TerraUSD collapse, may still face a second trial in South Korea. According to reports, South Korean prosecutors are seeking a sentence of more than 30 years for Do Kwon on charges of violating capital market laws. The 34-year-old South Korean national may apply for transfer to South Korea after serving half of his sentence. Approximately 200,000 South Korean investors suffered losses of about 300 billion won ($204 million) as a result. U.S. District Judge Paul Engelmayer stated during sentencing last week: "In the history of federal prosecutions, few fraud cases have caused such severe damage." Do Kwon has admitted to deliberately participating in a scheme to defraud Terraform Labs cryptocurrency purchasers between 2018 and 2022, which led to the collapse of the TerraUSD stablecoin and Luna token in May 2022, triggering a chain reaction in the cryptocurrency market.