Harris will debate with Trump in September OpenAI will launch AI search engine

Headline

▌Harris: Ready to debate with Trump on September 10

U.S. Vice President Harris told reporters that she is ready to debate with Trump on September 10.  

She said: "I agree to the previously agreed September 10 debate. He (Trump) also agreed before, but now, he is backing off. I am ready. I think voters should see the division of this campaign on the debate stage, so I am ready. Let's get started." 

According to reports, Harris has received enough support from delegates to become the Democratic candidate. The Democratic National Convention will be held in Chicago from August 19 to 22.

▌OpenAI will launch AI search engine SearchGPT to compete with Google

OpenAI announced its entry into the search market and will launch AI search engine SearchGPT, which is an artificial intelligence-driven search engine that can access information on the Internet in real time.  

OpenAI is reportedly testing a set of new search features with a small group of users that will answer questions with more timely information and prominent source links. This is the company's most direct challenge to Google to date. SearchGPT will be released as a prototype for a web browser and provide users with an independent search experience, which can then be added to ChatGPT.  

OpenAI declined to give a timetable for the launch of SearchGPT, but said it would initially be open to users who signed up for a waiting list; and said it is working with creators and publisher partners to get feedback on the new tool, and plans to integrate the most successful search features into ChatGPT.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is 65750.43 US dollars, with a daily increase or decrease of +0.6%;

ETH's latest transaction price is 3174.15 yuan, with a daily increase or decrease of -4.9%;

BNB's latest transaction price is 570.96 US dollars, with a daily increase or decrease of -0.6%；

SOL's latest transaction price is 171.81 US dollars, and its intraday increase or decrease is -3.5%；

DOGE's latest transaction price is 0.1253 US dollars, and its intraday increase or decrease is -2.2%；

XPR's latest transaction price is 0.6 US dollars, and its intraday increase or decrease is -3.0%。

Policy

▌Founder of Satoshi Action Fund: Key supporters in the U.S. Senate withdraw support for a bill that bans Bitcoin self-custody

Dennis Porter, founder of Satoshi Action Fund, said on social media that key supporters in the U.S. Senate withdrew support for a bill that bans Bitcoin self-custody. "The letter-writing campaign of the Satoshi Action played an important role. The letter-writing campaign launched on December 21 last year won a major victory. Seven months later, Roger Marshall withdrew his support for the bill."

▌U.S. regulators seek information on the relationship between banks and fintech companies

The Federal Deposit Insurance Corporation (FDIC) and two other major U.S. bank regulators want more information about the relationship between banks and fintech companies. The FDIC, the Federal Reserve and the Office of the Comptroller of the Currency require detailed information about these arrangements: including arrangements related to deposits, payments and loan products and services. The regulators said in a joint statement Thursday that officials want industry and public input on the "nature and impact of arrangements between banks and fintech companies and effective risk management practices."

▌Jersey City Pension Fund in New Jersey, USA, to Invest in Bitcoin ETF

Jersey City, New Jersey, mayor Steven Fulop announced on Thursday that the city's pension fund will allocate a certain percentage of its investments to a Bitcoin exchange-traded fund (ETF). 

Fulop wrote on the social media platform X that Jersey City's pension fund is updating its documents with the U.S. SEC, similar to the pension fund in Wisconsin. The mayor estimates that the process will be completed by the end of the summer. Fulop said: "The question of whether cryptocurrency and Bitcoin will continue to exist is basically over. Cryptocurrency and Bitcoin have won. I have always believed in cryptocurrency (through ups and downs), but in a broad sense, in addition to cryptocurrency, I do believe that blockchain is one of the most important new technology innovations since the Internet."

Blockchain Applications

▌Arkham Announces Integration of Coinbase Wallet

Arkham announced that it has integrated Coinbase Wallet in X. Users can now connect Coinbase wallets to Arkham and track positions and transactions directly on the platform.

Cryptocurrency

▌Presidential Independent Candidate Kennedy Wants US BTC Holdings to Match the Size of US Gold Reserves

There are growing rumors that US President Donald Trump wants to build a US Bitcoin reserve, and his rival independent candidate Robert F. Kennedy Jr. said he would go a step further. In an interview on Wednesday, the independent candidate said he would urge the federal government to buy Bitcoin until its BTC holdings match the size of the country's gold reserves.

▌Paradigm Submits Comments on the U.S. CFTC's Overly Broad Proposed Rules on Political Event Contracts and Prediction Markets

The United States will hold a presidential election this year, and the results of the November election will have a profound impact on the world, the country, and especially cryptocurrencies. Prediction markets have recently become the focus and predictor of potential election results. Paradigm said that the United States will hold a presidential election this year, and the results of the November election will have a profound impact on the world, the country, and especially cryptocurrencies. Prediction markets have recently become a focus and predictor of potential election results. The CFTC still decided to move forward with a proposed rule that would completely ban political event contracts while also significantly limiting the potential scope of implementation of prediction markets.  

Paradigm has raised significant concerns about the event contract NPRM, which proposes a broad and unfettered ban on a variety of product "prediction markets" that could otherwise further the Commodity Exchange Act's goal of promoting responsible innovation. Urge the CFTC to completely revise or repeal this ill-considered and technology-biased rule. Elections and democracy as a whole depend on accurate, real-time information; regulations should not ignore our democratic forests in order to regulate the bushes.

▌BlackRock: Clients have little interest in cryptocurrencies other than BTC and ETH

BlackRock sees "little to no interest" from clients in cryptocurrencies other than Bitcoin (BTC) and Ethereum (ETH), and does not expect many other cryptocurrency exchange-traded funds (ETFs) to emerge beyond these two core digital assets, Robert Mitchnick, BlackRock's head of digital assets, said at the Bitcoin 2024 conference in Nashville, Tennessee on July 25.

▌Total market value of all stablecoins increased by $1.52 billion in the past seven days

The stablecoin economy is experiencing new growth. The total market value of all stablecoins increased by $1.52 billion in the past seven days. The growth over the past seven days was mainly driven by Tether (USDT), the largest stablecoin by market value, which increased its supply by 1.2 billion. About $300 million of the growth came from Circle's USD Coin (USDC).

▌Writer Jimmy Song criticizes 2024 Bitcoin Conference for deviating from the spirit of Bitcoin

Writer Jimmy Song severely criticized the first day's agenda at the 2024 Bitcoin Conference in Nashville, arguing that the discussions on banking, institutional investment, and US exchange-traded funds that gradually permeated the discussion deviated from the core value of Bitcoin. He emphasized that the greatness of Bitcoin lies in freedom, independence, and self-sovereignty, and condemned the participation of financial institutions such as BlackRock.  

Song emphasized that Bitcoin should be kept away from the intervention of countries and multinational corporations. Independent media person Luke Rudkowski supports Song's point of view, believing that Bitcoin provides an opportunity for people to see the problems of the government, and emphasizes that its decentralized nature can help individuals become independent of the national structure.

Important Economic Dynamics

▌Yellen praised Biden for achieving "remarkable" economic performance, saying the United States is on a soft landing

U.S. Treasury Secretary Janet Yellen on Thursday praised U.S. President Biden for achieving a "remarkable economic recovery" and said that the second quarter GDP and inflation data confirmed that the United States is on the path of "stable growth and falling inflation." Yellen said Biden has restored America's position in the world. This is the first time Yellen has spoken publicly on the topic since Biden ended his campaign and supported Vice President Harris as his successor. "I am very proud to serve the American people with him and Vice President Harris, and I look forward to continuing to advance America's global leadership and deliver results for American families and businesses," Yellen said. She said that the strong growth of the U.S. economy, which has created 15.7 million jobs since Biden and Harris took office, is not accidental, but the result of the Biden and Harris administration's economic plan, which has helped maintain the resilience of the global economy.

▌Analysis: The market will usher in a wave of interest rate cuts in September

While stronger-than-expected U.S. second-quarter GDP data may ease some concerns about the economy, analysts pointed out that the higher-than-expected 2.9% core personal consumption expenditure price index (PCE) could cause trouble for the Federal Reserve. "While this is above target, it is coming down, and combined with strong economic growth data, this reduces the pressure on the Fed to cut interest rates next week," said Emma Wall of Hargreaves Lansdown in a report. "We expect the Fed, ECB and Bank of England to cut interest rates in September, which will be a wave of rate cuts. For investors focusing on the US stock market, we think there are opportunities for small-cap stocks with better value, despite the recent pullback in the "Magnificent Seven".

▌The probability of the Fed keeping interest rates unchanged in August is 93.3%

According to CME's "Fed Watch", the probability of the Fed keeping interest rates unchanged in August is 93.3%, and the probability of a 25 basis point rate cut is 6.7%. The probability of the Fed keeping interest rates unchanged by September is 0%, the probability of a cumulative 25 basis point rate cut is 88.6%, the probability of a cumulative 50 basis point rate cut is 11%, and the probability of a cumulative 75 basis point rate cut is 0.3%.

▌The three major U.S. stock indexes closed mixed, with most large technology stocks falling

The three major U.S. stock indexes closed mixed, with the Dow up 0.2%, the S&P 500 down 0.51%, and the Nasdaq down 0.93%. Most large technology stocks fell, with Google down more than 3%, Microsoft down more than 2%, Meta and Nvidia down more than 1%, Netflix and Amazon down slightly; Tesla rose about 2%. Ford Motor fell more than 18%, the largest single-day drop since 2008. Occupational health service provider Concentra Group broke the issue price on the first day of its U.S. IPO, falling more than 4%.

Golden Encyclopedia

▌What isBitcoin whale?

Bitcoin whales are individuals or organizations that own large amounts of Bitcoin and are able to influence the market through their trading strategies. The term "Bitcoin whale" is often used to refer to holders who own a large amount of Bitcoin compared to smaller participants, who are often referred to as "minnows" in the market. The owner of a wallet or a cluster of wallets controlled by one entity may be an individual or a group that is pooling funds for a large investment. Their large assets are accumulated through mining, early investments, and other methods. Whales can hold large amounts of Bitcoin, which gives them the ability to manipulate the market through large purchases or sales of assets that cause price fluctuations. In the cryptocurrency space, large numbers of whales and extreme volatility are often linked.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish correct investment concepts and be sure to increase risk awareness.