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Economist and cryptocurrency critic Peter Schiff stated: "A rate cut in September is not a certainty, as the inflation data to be released before the next Federal Reserve meeting may come in higher than expected. The market is rising on expectations of a rate cut, but this actually reduces the likelihood of a cut. Stronger inflationary pressures will outweigh the impact of slowing job growth."

According to ChainCatcher, the U.S. Securities and Exchange Commission (SEC) has updated its staff guidance on accounting rules for stablecoins. The core of the new guidance states that if a U.S. dollar-pegged stablecoin has a guaranteed redemption mechanism and its value stability is linked to another class of assets, it may be classified as a "cash equivalent." While the SEC is formulating broader cryptocurrency regulatory rules, this latest interim guidance is part of Chairman Paul Atkins' efforts to lift restrictive measures. For example, in April of this year, the SEC clarified that "covered" U.S. dollar stablecoins are not considered securities and confirmed that entities engaged in the issuance and redemption of such stablecoins do not need to register these activities with the agency.