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Quick Take The Crypto Council for Innovation, Michael Saylor and Robinhood, among others, have all met with the SEC’s newly created crypto task force over the last several days. The SEC has been making moves to re-evaluate its approach to regulating crypto after years of what some in the crypto industry called a “regulation by enforcement” approach.
Quick Take Regulatory uncertainty remains a potential hurdle for Solana ETFs, as the SEC may classify SOL differently from Bitcoin and Ethereum despite a more crypto-friendly stance under new leadership. Bloomberg analysts estimate a 70% chance of Solana ETFs receiving SEC approval.
Quick Take Restaking protocol Byzantine Finance raised $3 million in pre-seed funding to support the development of its aggregation layer.
Quick Take Sam Bankman-Fried posted on X for the first time since January 2023, expressing his views on the recent mass layoffs in the U.S. government. FTT token briefly surged over 29% following Bankman-Fried’s posts.
Quick Take The Pectra upgrade was activated on the Holesky test network at 4:55 p.m. ET yesterday. This activation marks a key phase in stress-testing the upgrade before it is launched on Ethereum’s mainnet. Despite the planned launch, the network has not been finalized since activation.
- 20:24All Three Major U.S. Stock Indexes Close LowerAccording to Jinse Finance, all three major U.S. stock indexes closed lower, with the Dow Jones down 0.94%, the Nasdaq down 0.92%, and the S&P 500 down 0.79%. Shares of Japanese and South Korean companies listed in the U.S. declined, with Nissan Motor falling over 7%, Toyota Motor nearly 4%, South Korea’s SK Telecom over 7%, and LG Display over 8%. Most major tech stocks also dropped, with Tesla down more than 6%, and Apple and Google both down over 1%.
- 19:28Sources: EU seeks agreement with US to offset automotive trade imbalanceAccording to a report by Jinse Finance, EU sources revealed that the European Union is exploring a potential automotive agreement to offset the imbalance between U.S. automobile exports and imports. The EU may secure basic tariff exemptions for aircraft and spirits in its trade agreement with the United States.
- 18:13Goldman Sachs: The Fed May Cut Interest Rates in SeptemberAccording to a report by Jinse Finance, Goldman Sachs stated that the Federal Reserve may cut interest rates in September. As the impact of tariffs diminishes and inflation recedes, the Fed could move up its timeline for rate cuts. The terminal rate range is now expected to be 3.00-3.25%, compared to the previous forecast of 3.50%-3.75%.