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XRP is facing a confidence crisis as whales offload 470 million tokens in just 10 days, pushing prices below $3.
Wall Street associations urge regulators to reconsider strict crypto banking standards, warning they could shut banks out of the $2.8 trillion market.
Brian Quintenz, Donald Trump’s nominee for CFTC Commissioner, is seeking support from the crypto industry as his nomination faces delays.

Bitcoin has dipped below $113K, sparking the most bearish sentiment since June’s geopolitical turmoil.

Quick Take “He is, quite simply, the right person at the right time to lead the CFTC,” the groups said of Brian Quintenz. A vote by the Senate Agriculture Committee was cancelled twice last month, the second time due to a request from the White House.

- 22:13Probability of a Fed Rate Cut in September Reaches 81.9%, with an 18.1% Chance of Holding Rates SteadyAccording to ChainCatcher, citing Jinshi News, CME "FedWatch" shows there is an 18.1% probability that the Federal Reserve will keep rates unchanged in September, and an 81.9% probability of a 25 basis point rate cut. In addition, for October, there is an 8% probability of rates remaining unchanged, a 46.4% probability of a cumulative 25 basis point rate cut, and a 45.5% probability of a cumulative 50 basis point rate cut.
- 20:53Ethereum Foundation launches first phase of "Trillion-Dollar Security" initiative, focusing on user experience and wallet standardsAccording to Jinse Finance, after the Ethereum Foundation proposed the "Trillion Dollar Security" initiative in May this year, it announced the first round of implementation measures this week, focusing on enhancing user experience (UX) security, with particular attention to wallet security and the issue of blind signing. The Foundation stated that wallets are the starting point for Ethereum user security; if users cannot securely manage their private keys or sign transactions, it is difficult to ensure the safety of on-chain assets. Going forward, the Foundation will promote the establishment of minimum security standards for wallets and explore ways to make them more accessible for non-technical users. In addition, the Foundation will research converting transaction code into human-readable descriptions to reduce the risks associated with blind signing. The initiative is jointly led by Protocol Security Lead Fredrik Svantes and management team member Josh Stark. More priority projects in various security domains will be rolled out in phases, with the goal of enabling Ethereum to support "billions of users and trillions of dollars in on-chain capital."
- 19:22Fed Minutes Lean Hawkish as Powell’s Speech Set to Reveal Rate Cut OutlookAccording to ChainCatcher, citing Jintou, Capital Economics analyst Paul Ashworth pointed out that the minutes of the Federal Reserve's July meeting show that, apart from two members who voted against by favoring a rate cut in July, most officials generally agreed to keep rates unchanged. This sends a slightly hawkish signal for the September meeting. However, since the minutes predate the disappointing July jobs report, it is difficult to glean clues about the future from them. Powell's speech at Jackson Hole this week will provide deeper insight into whether a rate cut in September is already a foregone conclusion.