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In Brief YZi Labs invested $50 million in stablecoin network BPN for global payment expansion. BPN aims to reduce finance transfer times, lowering costs with innovative technology. BPN targets providing regional stablecoin support in emerging markets by year's end.
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Nexchain AI advances its crypto presale with Testnet 2.0, offering 100% bonus, AI-driven security, and $5M airdrop rewards.Testnet 2.0 Begins the Road to Full Ecosystem ExpansionAI-Based Infrastructure Designed for Enterprise-Grade UtilityPresale Progress Continues Through High-Demand Funding StagesCommunity Rewards Through Ongoing Airdrop Campaigns
DeFi leaders like Aave and Synthetix are boosting Ethereum L1 as chains like Ronin and Celo shift to L2s.DeFi Leaders Reignite Ethereum Layer 1Chains Pivoting to Layer 2sEthereum’s Role as the Base Settlement Layer
- 00:17CNBC Host: Concerns over bank bad debts may give the Federal Reserve a reason to cut rates earlierJinse Finance reported that as news of bank bad debts hit Wall Street, CNBC financial commentator Jim Cramer stated that this latest situation will pave the way for the Federal Reserve to cut interest rates, a move widely anticipated by investors. He said, "Today's market is indeed terrible, but at least we finally have a reason that will make the Fed eager to cut rates sooner—bank loan bad debts. Nothing prompts the Fed to act faster than credit losses, as that is a clear signal of an economic downturn." On Thursday, U.S. stock indices generally fell as investors' concerns over the health of regional banks' lending businesses intensified. Cramer pointed out that non-performing loans are an early warning signal, indicating that it is time for the central bank to ease monetary policy. The banking system has seen "enough problem loans" within a week, which is sufficient for the Fed to cut rates quickly without being overly concerned about inflation. He emphasized that lower borrowing rates can not only generally stimulate the economy but also make it easier for borrowers to avoid defaults. (Golden Ten Data)
- 00:17U.S. real estate investment firm Cardone Capital discloses additional purchase of 200 BTCChainCatcher News, Grant Cardone, CEO of the American real estate investment company Cardone Capital, posted on the X platform in the early hours today that after purchasing 300 BTC last week, Cardone Capital has just confirmed the purchase of another 200 BTC.
- 00:06Fed's Barr Urges Stronger Regulation to Enhance Trust in StablecoinsChainCatcher News, according to Bloomberg, Federal Reserve Governor Michael Barr stated that given the potential of stablecoins to bring multiple benefits to the financial system, more specific regulatory measures are needed to ensure their safe operation. He pointed out: "To fully realize the potential of stablecoins, more work is needed to establish a regulatory framework that protects households, businesses, and the entire financial system." He welcomed the passage of the "Genius Act" earlier this year, but also said that regulators must now work to fill the legislative gaps in the act to enhance market confidence in stablecoins and protect consumers and businesses from runs and other destabilizing events. However, Barr also believes that stablecoins can improve the financial landscape, such as making remittances faster and less costly, and increasing the efficiency of global trade. Barr emphasized that before the use of stablecoins grows significantly, several measures may still be needed, including stronger regulation. He stated that it is still uncertain whether new regulations are needed to further oversee the industry, or whether regulators can build a sufficiently robust regulatory system within the framework of the "Genius Act".