News

Jinse Finance reported that U.S. President Trump has narrowed the race for Federal Reserve Chair down to the "two Kevins." He previously indicated a preference for either former Federal Reserve Governor Kevin Warsh or National Economic Council Director Kevin Hassett to lead the Fed next year. According to the latest data from prediction market Kalshi, the probability of Kevin Warsh being elected as the next Fed Chair has surged by 25 basis points to 39%, while Kevin Hassett's probability has dropped by 18 basis points to 54%. The probability for another candidate, Christopher Waller, is only 5%. After a recent meeting, Trump stated that Warsh is currently his top choice, but he gave high praise to both candidates. Both support lowering interest rates and believe rates should be at 1% or below. The market has now factored in the prospect of a more dovish Fed policy.

ChainCatcher news, according to CoinDesk, negotiations in the U.S. Senate regarding the crypto market structure bill may be delayed until next year due to several unresolved points of disagreement. The legislative text has been privately circulated among industry insiders, and industry executives briefly reviewed the current draft at a White House meeting on Thursday, which was chaired by U.S. President Donald Trump’s crypto advisor Patrick Witt. The negotiations involve Senate Democrats, Republicans, the White House, and the crypto industry, with four major points of contention still needing to be resolved. These disagreements include ethical standards for government officials participating in digital assets, particularly the involvement of U.S. President Donald Trump, whether stablecoins should be yield-bearing, and the U.S. Securities and Exchange Commission’s (SEC) jurisdiction over tokens and its authority in handling decentralized finance (DeFi). Patrick Witt posted on X that the White House and Senate Republicans “are aligned on the need to protect software developers and DeFi.” Despite the differences, the intensity and pace of the negotiations remain high. Cody Carbone, CEO of Digital Chamber, stated that all parties have a genuine desire and motivation to complete the legislation, and substantial progress is expected early next year.