13:21
US Treasury Secretary Bessent: No Rush to Choose Powell’s Successor
According to ChainCatcher, citing Jinshi News, U.S. Treasury Secretary Bessent stated that there is "no rush" to determine a successor for Federal Reserve Chair Powell, and that candidates may come from current committee members or regional bank presidents. On Wednesday, Bessent said on a television program, "There are many strong candidates, including several key committee members and possibly regional bank presidents." He did not disclose any specific names. Reports indicate that Bessent himself, White House National Economic Council Director Hassett, former Fed Governor Kevin Warsh, and current Fed Governor Waller are all among the candidates nominated by Trump for the chair position. Bessent said, "There is a very, very long list." He added, "I don't intend to discuss the process, but we are moving forward with it. Clearly, this will be President Trump's decision, and we are not in a hurry."
13:18
Trump Criticizes Powell, Says FOMC Should Take Action
According to Jinse Finance, Trump posted that the housing market has lagged because Powell refuses to lower interest rates. Families are suffering due to excessively high rates, and even our country is forced to pay higher interest than it should. Our rates should be three percentage points lower than they are now, which would save the entire nation $1 trillion a year. Powell, this stubborn guy, just doesn’t get it—never has, and never will. The board should take action, but they lack the courage to do so!
13:13
Analysis: The Mass Unstaking of 620,000 ETH May Be Linked to Large Withdrawals of ETH Deposits on Aave, Leading to a Surge in Borrowing Rates
According to ChainCatcher, citing on-chain analyst @ai_9684xtpa and crypto KOL darkpool’s analysis, the mass unstaking event involving 620,000 ETH may be related to a surge in ETH withdrawals from the Aave platform, which caused borrowing rates to spike. The rapid withdrawal of ETH deposits from Aave led to soaring borrowing rates, forcing loop lending participants—who had previously profited from interest rate spreads—into losses, compelling them to redeem stETH to deleverage, resulting in the current situation. Aave ETH borrowing APR once soared to 10% Lido $stETH’s current exit waiting period has been extended to 21 days (normally within a week) There is still a discount of nearly 0.4% when swapping stETH for ETH on-chain Regarding the implementation of loop lending, Aave’s collateral ratio for ETH is 93%, meaning arbitrageurs can use leverage of up to 14x to earn interest rate spreads. Under normal circumstances, the annualized return on principal can reach approximately 7%.