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Share link:In this post: Bailey publicly backed Powell, calling him a friend and criticizing Trump’s ongoing attacks. The Bank of England cut rates by 25bps after a split vote, pushing the pound up and the FTSE 100 down. Trump is actively looking to replace Powell, with Waller, Hassett, and Warsh in consideration.
Share link:In this post: • Germany’s industrial output falls to pandemic lows. • Berlin’s foreign trade surplus drops below €15 billion in June. • German exports rise largely due to shipments to other EU nations.
Share link:In this post: Sony has raised its annual profit forecast by 4% to ¥1.33T ($9B) due to less than anticipated impact from U.S. tariffs. Q1 operating profit rose 36.5% year-on-year to ¥340B ($2.3B), beating analyst estimates. Sony is preparing a partial spin-off of its financial business, reducing its stake to below 20% with a Tokyo listing planned for September 29 of this year.
Share link:In this post: Chainlink has launched a LINK reserve funded by real on-chain and off-chain revenue. The reserve uses Payment Abstraction to convert various fees into LINK tokens. LINK’s price jumped 6.8% after the announcement, signaling market confidence.
Share link:In this post: GM will import Chinese EV batteries from CATL for its new Chevrolet Bolt, despite 80% tariffs. The decision comes after the elimination of the $7,500 EV tax credit, which would have disqualified the Bolt due to its Chinese components. LFP batteries are about 35% cheaper than other alternatives.
With nearly $5 billion in Bitcoin and Ethereum options expiring, traders are watching BTC’s EMA 100 and 112K strike for potential volatility.
Ethena price is rising fast as whale accumulation, bullish crossovers, and OBV divergence support the case for a major breakout ahead.
- 01:02Trump Can Only Dismiss Federal Reserve Governors for Just CauseAccording to Jinse Finance, Trump has announced the dismissal of Federal Reserve Governor Cook, an unprecedented move that marks a significant escalation in his attacks on the Federal Reserve. Trump's action pushes the Federal Reserve system into uncharted territory and is likely to trigger a legal battle that could ultimately reach the Supreme Court. The Federal Reserve Act of 1913 restricts the president's unilateral authority to dismiss Fed governors, stipulating that the president may do so only "for cause." Although the law does not specify what constitutes "cause," it has historically been interpreted as misconduct or neglect of duty. If Trump ultimately succeeds in removing Cook, he would be able to nominate her successor and reshape the Federal Reserve Board in the coming years.
- 00:42Analyst: The US Dollar Is Facing a Double BlowAccording to Jinse Finance, Trump is taking steps to dismiss board member Cook. Cook has been under pressure to resign for nearly a week, and Trump is now escalating the matter. Forex analyst Eamonn Sheridan noted that the US dollar is facing a double blow: first, because this move increases the likelihood of the Federal Open Market Committee (FOMC) cutting interest rates in September; and second, because Trump may be pushing the US toward a non-independent monetary policy. Turkey’s Erdogan previously attempted to intervene in his country’s central bank and forcibly implement his own monetary policy, which at one point led to the collapse of the Turkish lira. While the US economy may be more resilient, from a marginal effect perspective, this is not favorable for the dollar. Gold prices have already surged.
- 00:30Machi Big Brother's current long position is showing an unrealized loss of nearly $8 millionAccording to a report by Jinse Finance, monitoring by @lookonchain shows that despite the market crash, Machi Big Brother (@machibigbrother) continues to buy the dip and is currently holding long positions in Ethereum (ETH), Bitcoin (BTC), HYPE (HYPE), YZY (ZY), and PUMP (SPUMP). At present, his unrealized losses on these long positions have approached $8 million.