ChainCatcher news, according to Fox reporter Eleanor Terrett, the Pennsylvania House of Representatives today submitted a legislative proposal that allows the state to include Bitcoin (BTC) as a reserve asset on its balance sheet.

ChainCatcher news, according to Jinshi reports, strategists including Teresa Ho from JPMorgan expect that, given the liquidity situation has returned to normal after the end of October, the Federal Reserve will end quantitative tightening (QT, i.e., balance sheet reduction) in the first quarter of 2025, earlier than the previously expected completion by the end of 2024.The supply of U.S. Treasury bills and repos has both increased, and money market funds are seeking to extend to longer maturities as expectations for easing diminish, drawing more funds from the Federal Reserve's overnight reverse repurchase facility.

According to ChainCatcher news, analysis by Creative Planning's Chief Market Strategist Charlie Bilello shows that the Federal Reserve's balance sheet has fallen to its lowest level since September 2020, having decreased by $1.9 trillion since its peak in April 2022. To fully unwind the quantitative easing policy from March 2020 to April 2022, an additional reduction of $2.9 trillion is needed.

ChainCatcher news, several of Wall Street's largest banks expect the Federal Reserve to end its balance sheet reduction process in April next year, which is consistent with their expectations for the Fed in July.A survey conducted by the New York Fed before last month's Federal Reserve interest rate meeting among so-called primary market dealers showed that "most dealers indicated that they expect the end of balance sheet reduction to depend on the level of reserves, overnight reverse repo conditions, or the assessment of upward pressure on money market rates relative to the administered rates."Some dealers stated that macroeconomic factors pose risks to the outlook for ending the balance sheet reduction. "The current size of the Federal Reserve's balance sheet is approximately $7 trillion."

ChainCatcher news, according to CoinDesk, analysts say that over the past eight years, the price of Bitcoin has shown a positive correlation with the size of the Chinese central bank's balance sheet. The 30-day correlation coefficient between Bitcoin's price and the size of the Chinese central bank's balance sheet is 0.66. It has been positive except for 2016 and from the end of 2022 to 2023. On the other hand, Bitcoin's correlation with the Federal Reserve's balance sheet over 30 days is -0.88, the lowest level recorded since 2016.The Chinese central bank is considering launching an economic stimulus plan of up to 1 trillion yuan (approximately 142 billion USD) to boost the economy, which has led to a significant rise in Asian stock markets, particularly the notable increase in the CSI 300 index.Analysts believe that this stimulus plan may indirectly benefit Bitcoin, as it could increase investment in blockchain and cryptocurrency-related projects. This monetary easing policy may drive more capital into the digital asset space.

ChainCatcher news, according to data from the Federal Reserve's official website, as of September 17, the size of the Federal Reserve's balance sheet has decreased to around $7.1 trillion, currently reported at $7.109 trillion. Since the beginning of this year, the cumulative reduction has been approximately $1.39 trillion.

ChainCatcher message, Bank of America strategists Mark Cabana and Katie Craig stated in a report that the bank now expects the Federal Reserve to end its balance sheet reduction by the end of March 2025, compared to the previous forecast of December 2024, due to the lack of discussion among policymakers regarding its policy. The September FOMC meeting indicated that the Federal Reserve believes changes in policy rates and the balance sheet are independent of each other.

ChainCatcher news, according to CoinDesk, Bitcoin has risen by 7% in the past five days, breaking the $64,000 mark for the first time since August 26. Meanwhile, gold has set new all-time highs over 30 times this year, surpassing $2,600 per ounce. Charlie Bilello, Chief Market Strategist at investment management and financial planning firm Creative Planning, stated that this is the first time since Bitcoin's inception in 2009 that both Bitcoin and gold have become the best-performing assets of the year.Analyst James Van Straten noted that the outstanding performance of Bitcoin and gold is related to the increase in global liquidity, the expansion of global central bank balance sheets, and the recent interest rate cuts by the Federal Reserve, which stimulate investment and economic activity. The current balance sheet of the Federal Reserve stands at $7.1 trillion, and although quantitative tightening is still underway, the pace has slowed. The reduction in reverse repo balances, now just above $300 billion, has released liquidity back into the financial system. This has a stimulating effect, increasing the availability of funds for loans, investments, and overall economic activity.From a broader perspective, the total balance sheet of the world's 15 largest central banks (including the U.S., EU, Japan, and China) is approaching $31 trillion. While this figure itself is not the focus, the trend shows a global recovery of central bank balance sheets since July, rising from about $30 trillion. This increase in liquidity is particularly stimulating for Bitcoin, as its price movements often correspond with liquidity trends. Additionally, the Federal Reserve's 50 basis point rate cut further supported the rise of both Bitcoin and gold.

ChainCatcher news, according to the Financial Times, Telegram holds nearly $400 million worth of cryptocurrency on its balance sheet.

ChainCatcher news, MicroStrategy co-founder Michael Saylor posted on social media that Bitcoin will "fix" the company's balance sheet.It is reported that the post is a comment on an article by macroeconomic expert and writer Lyn Alden, which explores corporate financial practices, why companies in history tend to self-decapitalization, and the logic behind some companies hoarding Bitcoin.

ChainCatcher news, Bitcoin mining company Hut 8 released its operational update for July 2024. Hut 8's Bitcoin production in July was 105 Bitcoins, with a total of 9,102 Bitcoins on its balance sheet.

ChainCatcher news, according to data from the Federal Reserve's official website, as of July 23, the Federal Reserve's balance sheet size was $7.205 trillion, a reduction of $16 billion from $7.221 trillion at the beginning of July.

ChainCatcher news, according to CoinDesk, the Bank for International Settlements (BIS) and the Bank of England (BoE) stated that the balance sheets of stablecoin assets can be regulated.According to their latest project report released on Wednesday, the Pyxtrial project has developed a prototype data analysis pipeline that can provide regulators with near real-time data on stablecoin liabilities and their supporting assets. The report stated, "This technology is the first step towards enabling regulators to proactively identify issues related to stablecoin support and assist in the development of policy framework tools."

ChainCatcher message, Real Vision analyst Jamie Coutts CMT stated on X: "Bitcoin may have already appeared on the balance sheets of multiple countries, especially those with domestic mining operations. The announcement by Trump and Robert F. Kennedy Jr. to adopt it as a reserve asset for the U.S. will be preemptively implemented by other countries. Regardless of whether these candidates are elected, the situation has changed."

ChainCatcher news, according to Bitcoin.com, on Wednesday, Federal Reserve Chairman Jerome Powell testified before the House Financial Services Committee, where Congressman Josh Gottheimer questioned him about the SEC's Staff Accounting Bulletin (SAB) 121. This bulletin requires banks to include custodial digital assets on their balance sheets, significantly increasing the costs of providing digital asset custody services.Gottheimer cited Powell's previous statement: custodial assets do not belong on the balance sheet, and this has always been the case. Powell generally confirmed this position but did not comment on the SEC's policy, stating that it falls within the SEC's jurisdiction.Critics argue that SAB 121 undermines banks' ability to provide secure digital asset custody, pushing these services toward less regulated entities and increasing consumer risk. Lawmakers have proposed overturning SAB 121, citing its negative impacts. Although Congress passed the first standalone cryptocurrency legislation to overturn SAB 121, President Biden vetoed the bill, emphasizing the need to establish a regulatory framework for digital assets.

ChainCatcher news, Animoca Brands announced its investor update for the fiscal year ending December 31, 2023.For the 12 months ending December 31, 2023, operating expenses were $246 million, compared to $234 million for the 12 months ending December 31, 2022. The cash and stablecoin balance is $175 million. The digital assets held on the balance sheet are approximately $203 million, of which about 70% is a combination of BTC, ETH, APE, and MATIC.Animoca Brands and its subsidiaries have off-balance-sheet token reserves of approximately $1.6 billion, including about $930 million in liquid tokens and $665 million in illiquid tokens. These reserves include tokens from Animoca Brands such as SAND, EDU, REVV, TOWER, GMEE, and others. Minority equity investments in over 450 portfolio companies.Additionally, the total amount raised in the fiscal year 2023 through equity issuance and convertible notes was $83 million.

ChainCatcher news, according to Bitcoin Magazine, the Taunton firefighters' union will become the fourth union in the United States to add Bitcoin to its balance sheet.

According to ChainCatcher news and data from bitcointreasuries.net, public companies currently hold a total of 308,689 BTC on their balance sheets, worth approximately $21.8789 billion.Among them, Microstrategy ranks first with 214,400 bitcoins, followed by Marathon Digital Holdings (17,631), Tesla (9,720), Coinbase Global, Inc. (9,480), Hut 8 Mining Corp (9,110), Riot Platforms, Inc. (9,084), Block, Inc. (8,038), CleanSpark, Inc. (6,154), Galaxy Digital Holdings Ltd (4,000), and Bitcoin Group SE (3,589).

ChainCatcher news, according to data from the Federal Reserve's official website, as of May 28, the Federal Reserve's balance sheet size was $7.284 trillion, compared to $7.362 trillion at the end of April, indicating a reduction of $78.1 billion in May.