This week's key news preview | The Federal Reserve will release the minutes of its monetary policy meeting on Thursday; OKX will launch DOGS spot trading pairs; Binance US will suspend operations in Washington
Highlights of the week from August 19 to August 25.整理：Fairy，ChainCatcher
Key News:
- Binance US will suspend operations for Washington customers starting August 20
- The preliminary claims deadline for Terraform Labs' bankruptcy case is 5 AM on August 22
- Federal Reserve Chairman will speak on economic outlook on the 23rd and set the tone for a rate cut in September
- Federal Reserve officials will speak intensively next week and will release the minutes of the monetary policy meeting on Thursday
- Bitdeer plans to issue $150 million in convertible bonds, expected to complete issuance by August 20
- OKX will launch the DOGS/USDT spot trading pair on August 20
August 19 (Monday)
The Democratic National Convention will be held in Chicago from August 19 to 22
The Democratic National Convention is scheduled to take place in Chicago from August 19 to 22, where current Vice President Harris will be formally nominated as the party's presidential candidate to compete against the Republican candidate Trump. Harris and her running mate, Minnesota Governor Walz, will also speak at the convention to outline their policy positions.
Upbit plans to implement multiple new service terms effective August 19
According to an official announcement, Upbit will update 34 service terms, effective August 19, 2024, including a new provision that may cancel existing unfilled orders to protect users when changing services (but in such cases, Upbit must notify users in advance); services for recharging digital assets that are no longer supported will be stopped, and users can request the return of stored digital assets through Upbit's customer center during the withdrawal support period; new minimum recharge and withdrawal amounts for digital assets are specified on the website or service, and users must check these requirements before recharging or withdrawing digital assets.
Binance will delist tokens such as CVP, EPX, FOR
Binance will close all arbitrage strategies at 06:00 (UTC) on August 19, and automatically settle the LOOM/USDT and REEF/USDT trading pairs. Binance will delist and stop all spot trading pairs for six tokens on August 26, 2024, at 11:00 Beijing time.
The specific trading pairs to be removed include: CVP/USDT, EPX/USDT, FOR/BTC, FOR/USDT, LOOM/BTC, LOOM/TRY, LOOM/USDT, REEF/TRY, REEF/USDT, VGX/USDT.
Flare Network: XRP testnet and FAssets public beta will reset on August 19
Flare Network announced on X that its XRP testnet will reset on August 19, and the FAssets public beta will also reset. The team will restore testing through airdrops of new TestXRP, an official dashboard, FTestBTC support, and more updates.
Bounce Brand will conduct BN token IDO on launchpad on August 19, with a total supply of 4.2 million
Bounce Brand announced the details of its BN token IDO. The IDO will take place on the Bounce launchpad platform from 18:00 on August 19 to 18:00 on August 21, with a total supply of 4.2 million BN.
The IDO is divided into three pools: AUCTION staking pool (Ethereum, supply 1.05 million $BN, fundraising $12,500), fixed-price public pool (Ethereum, supply 2.73 million BN, price 1 BN = $0.011905), and fixed-price whitelist pool (Ethereum, supply 420,000 BN, price same as public pool).
August 20 (Tuesday)
Network3's first batch of physical mining machines will go on presale on August 20, IoTeX tokens will be jointly mined
During the industry conference DePINsubmit hosted by EV3, the head of the Network3 ecosystem revealed in a panel with the IoTeX Founder that Network3 will start the presale of its first batch of physical mining machines at 10 AM California time on August 20, 2024. These machines can participate in dual mining of IOTEX tokens and Network3 tokens.
It is reported that Network3 has achieved $5.5 million in seed pre-round and seed round financing, and the next round of financing has begun, with several leading institutions confirming participation. The official claims that the Network3 project token $N3 has already started the listing process.
Binance US will suspend operations for Washington customers starting August 20
Binance.US announced on X that due to regulatory developments in Washington, the platform will suspend operations for Washington customers and will close all accounts in the state on or after August 20, 2024.
Dogs: DOGS tokens are now available for collection to Telegram wallets and CEX, deposits must be made by August 20
According to a post by Dogs on their official Telegram channel, DOGS tokens are now available for collection to Telegram wallets and CEX, but users will not receive the tokens immediately and must deposit them into the chosen airdrop collection account by August 20.
Simon's Cat meme coin will launch on TokenFi Launchpad on August 20
Floki's official social media post states that Simon's Cat meme coin will launch on TokenFi Launchpad on August 20. A total of 18.5% will be distributed to FLOKI token holders.
OKX will launch the DOGS/USDT spot trading pair on August 20
According to OKX's official announcement, DOGS/USDT spot trading will begin at 20:00 Beijing time on August 20.
Bitdeer plans to issue $150 million in convertible bonds, expected to complete issuance by August 20
Bitdeer Technologies Group, a Bitcoin mining company under Wu Jihan (NASDAQ: BTDR), announced the pricing of its $150 million 8.50% convertible senior notes public offering. The issuance is expected to be completed by August 20, 2024. The notes will mature in 2029, and holders can choose to convert the notes into cash or Class A common stock of the company. Bitdeer plans to use the proceeds from this issuance for data center expansion, ASIC miner development, and other general corporate purposes. BTIG is the sole bookrunner for this issuance.
August 21 (Wednesday)
Sean Glennan officially becomes CFO of Hut 8
Bitcoin miner and energy infrastructure company Hut 8 announced that it will appoint a new Chief Financial Officer later this month.
Sean Glennan will become the new CFO of Hut 8, effective August 21. Shenif Visram will resign from the CFO position for family reasons but will remain with the company until Glennan takes office to oversee an orderly transition.
Hut 8 CEO Asher Genoot stated, "We are excited to welcome Sean to the organization. We will continue to execute our power-first argument, and Sean Glennan brings a wealth of strategic, financial, and capital markets knowledge, along with extensive relationships in the field, which will be an important asset in shaping and realizing our future plans."
Scroll will conduct Darwin proof recursion upgrade on August 21, Gas fees can be reduced by about 34%
Scroll announced on X that it will conduct a Darwin proof recursion upgrade on August 21, which will reduce Gas fees by about 34%.
Through the Darwin hard fork, multiple batches of proofs will be bundled into a validity proof, thereby reducing verification costs. Scroll will deploy this upgrade on the Scroll Sepolia testnet on August 14, followed by deployment on the mainnet.
August 22 (Thursday)
The preliminary claims deadline for Terraform Labs' bankruptcy case is 5 AM on August 22
According to an official announcement from Terra, the preliminary crypto loss claims deadline in the Chapter 11 bankruptcy case of Terraform Labs Pte Ltd (TFL) and Terraform Labs Limited (TLL) is 5 PM Eastern Time on August 21, 2024 (5 AM Beijing time on August 22).
Claims against TFL that arise before January 21, 2024, or claims against TLL that arise before July 1, 2024, must be submitted before this deadline. This deadline is only for Chapter 11 plan voting.
Federal Reserve officials will speak intensively next week and will release the minutes of the monetary policy meeting on Thursday
According to Jinshi News, next week, the market will face several important event nodes, during which Federal Reserve officials will also speak intensively. Among them:
- Monday 21:15, Federal Reserve Governor Waller will deliver opening remarks at a summer seminar on money, banking, payments, and finance;
- Wednesday 1:35, 2024 FOMC voting member and Atlanta Fed President Bostic will speak;
- Thursday 2:00, the Federal Reserve will release the minutes of the monetary policy meeting;
- Thursday, the Jackson Hole Global Central Bank Annual Meeting will be held;
- Friday 22:00, Federal Reserve Chairman Powell will speak on the economic outlook at the Jackson Hole Annual Meeting.
In addition, the US August S&P Global PMI data will be released next Thursday evening. If the data unexpectedly weakens, concerns about a US recession may intensify, leading traders to increase bets that the Federal Reserve will cut rates more significantly this year, which would be a blow to the dollar.
Gitcoin: Gitcoin Grants 21 has launched and will continue until August 22
Gitcoin Grants 21 has officially launched and will continue until 7:59 AM Beijing time on August 22. The theme of this round of grants is to collaborate with partners and enhance the capabilities of external communities.
This round includes Celo and Arbitrum ecosystem rounds as well as 9 community rounds. Users no longer need to collect Passport stamps, as Gitcoin Grants Stack provides technical support.
August 23 (Friday)
Federal Reserve Chairman will speak on economic outlook on the 23rd and set the tone for a rate cut in September
Federal Reserve Chairman Powell will speak on the economic outlook at the Jackson Hole Economic Symposium at 10 AM Eastern Time on August 23 (10 PM Beijing time on August 23) and set the tone for a rate cut window in September.
This is the first full day of the annual economic symposium held by the Kansas City Fed in Jackson Hole, Wyoming. This global central bank annual meeting provides Powell with an opportunity to make the latest assessment of the trajectory of the US economy and the outlook for monetary policy between the Federal Reserve's July and September decision meetings. Last month, he indicated that if inflation and the labor market continue to cool, the Federal Reserve may consider a rate cut at its next meeting.
Sources: The Japanese Parliament will hold a special meeting on August 23 to discuss the Bank of Japan's interest rate hike issue
Sources: The Japanese Parliament will hold a special meeting in the lower house committee on August 23 to discuss the Bank of Japan's interest rate hike issue, and may request the attendance of Bank of Japan Governor Ueda Kazuo.
Specific Time Undetermined
Babylon will launch the first phase of Bitcoin staking mainnet this week
Babylon announced on X that it will launch the first phase of Bitcoin staking mainnet this week, allowing Bitcoin holders to start locking BTC for staking.
Pacmoon: The deadline for PAC destruction to exchange for ARMY has completed the snapshot, ARMY is expected to launch early this week
Meme project Pacmoon announced on X that it has completed the snapshot. PAC token holders during this snapshot period must complete the token destruction by September 13, 2024, to exchange for ARMY tokens later. However, since the snapshot has been completed, users who purchase PAC tokens from now on will not be able to exchange ARMY tokens through token destruction.
Pacmoon added that it will take a few days to ensure a smooth migration process, and the ARMY token is expected to launch early this week.
