ChainCatcher News: U.S. President Biden stated that he had a conversation with Trump and assured him that the government would work with Trump's team. (Jin Shi)

ChainCatcher news, according to Jinshi reports, the White House announced that U.S. President Biden will deliver a national address on Thursday at 11:00 AM Eastern Time (midnight Beijing time today).

ChainCatcher news, the White House stated that President Biden will cast his early vote for the election on Monday.

ChainCatcher news, according to Jinshi reports, the White House stated that President Biden will cast his early vote for the election on Monday.

ChainCatcher News: U.S. President Biden stated that the economy is stronger than previously estimated. (Jin Shi)

ChainCatcher news, Hunter Biden, the son of U.S. President Joe Biden, will plead guilty today to federal tax crimes, including multiple felonies, facing up to 17 years in prison.Hunter Biden has been charged with nine counts of tax crimes, including three felony charges. Prosecutors allege that he failed to pay $1.4 million in federal taxes and evaded taxes by submitting tax returns with fraudulent business deductions. They also accuse Biden of spending money on luxury cars, upscale hotels, and sex workers instead of paying his taxes on time. President Joe Biden has consistently stated that he will not pardon his son in these two cases. It remains unclear whether the president's thoughts have changed after abandoning his re-election campaign, but he still has the ability to pardon his son or reduce his sentence.

ChainCatcher News, President Biden issued a statement on the July non-farm report, stating that since Vice President Harris and I took office, our economy has created nearly 16 million jobs, with an average unemployment rate lower than any administration in the past 50 years, and income growth outpacing inflation. Today's report shows that while inflation has significantly decreased, job growth has slowed further. Business investment remains strong, partly due to the "Investing in America" agenda, which is creating high-paying job opportunities in underserved communities. Prices are still too high. We will continue to lower costs by combating price gouging, capping prescription drug costs, and building more housing.

ChainCatcher News: U.S. Vice President Harris stated that both she and President Biden support term limits for the Supreme Court and other reforms. (Jin Ten)

ChainCatcher news, after announcing his withdrawal, Biden stated that he would fully support and endorse Vice President Harris for the Democratic presidential nomination. Just minutes after Biden announced his exit from the 2024 presidential race, Trump responded in a phone call with CNN, saying, "He is the worst president in the history of our country. So far, he is the worst president in our nation's history." Trump also stated that he believes Vice President Harris would be easier to defeat than Biden.Previous news, President Biden issued an open letter announcing that he would not seek re-election. Biden stated that although he originally intended to run for re-election, he believes that for the best interests of the party and the country, he will step down and focus on fulfilling his presidential duties for the remainder of his term, and he indicated that he would deliver a speech later this week to elaborate on this decision.

ChainCatcher news, according to NBC News, President Biden's family has begun discussing plans for him to withdraw from the race. (Jin Ten)

ChainCatcher news, according to AXIOS, several senior Democrats believe that President Biden may decide to withdraw from the 2024 presidential race as early as this weekend.

ChainCatcher news, according to The New York Times, the leaders of the Democratic National Committee will confirm President Biden as the nominee by the end of July.

ChainCatcher news, according to The Block, investment bank TD Cowen stated that President Biden's nomination of two leaders for the U.S. Commodity Futures Trading Commission (CFTC) could impact the agency's future approach to cryptocurrency.Last week, Biden nominated CFTC Commissioner Christy Goldsmith Romero to head the Federal Deposit Insurance Corporation (FDIC) and nominated Kristin Johnson as Assistant Secretary for Financial Institutions at the Treasury Department. Both commissioners have advocated for the agency to establish rules or guidelines to protect consumers and address conflicts of interest in cryptocurrency.If Romero and Johnson successfully take on their new roles, the CFTC will be left with Democratic Chairman Rostin Behnam and Republican Commissioners Caroline Pham and Summer Mersinger, with Republicans holding a majority of seats.TD Cowen stated in a report on Monday that, given this change, the Biden administration will quickly fill these two vacancies. However, alternative candidates may not be confirmed until the fall.

ChainCatcher news, according to a Reuters/Ipsos poll: President Biden is trailing former President Trump among non-college-educated voters by 32% to 44%, a decline of 10% compared to the same period in 2020; President Biden is also trailing former President Trump among voters from households with an annual income below $50,000 by 33% to 38%, a decline of 14% compared to the same period in 2020.

ChainCatcher news, U.S. President Joe Biden's personal X account posted a "laser eyes" photo with the caption "Just like we drew it up."It is reported that the "laser eyes" phenomenon was part of a social media campaign that pushed for Bitcoin's price to reach $100,000 by the end of 2021, but this goal was not achieved.

According to ChainCatcher, as reported by Cointelegraph, U.S. President Biden has proposed a phased 30% tax on the electricity costs of cryptocurrency mining in his administration's budget for the fiscal year 2024. The U.S. Department of the Treasury released a supplemental budget explanatory document on March 9, stating that any company using resources (whether owned or leased) will "pay a consumption tax equal to 30% of the electricity costs used for digital asset mining."The document suggests that the tax will be implemented for tax years after December 31, 2023, and will be phased in over three years at a rate of 10% per year, reaching a maximum of 30% by the third year. Crypto miners will be required to report "the amount and type of electricity used and the value of that electricity." Cryptocurrency miners who obtain off-grid power will still need to pay taxes and will need to estimate the electricity costs generated by any "power plants." (source link)

ChainCatcher news, local time on Thursday, President Biden will announce the budget proposal for the fiscal year 2024. Among them, the new fiscal year's budget proposal mentions the elimination of tax subsidies for cryptocurrency transactions, restrictions on retirement tax benefits for high-income earners, and the end of the "loophole" for interest on debt. (source link)

ChainCatcher news, according to The Block, U.S. President Biden has nominated the current acting chair of the Federal Deposit Insurance Corporation (FDIC), Martin Gruenberg, to be the head of the banking regulatory agency.It is reported that Martin Gruenberg has been serving as the acting chair of the FDIC since February of this year, and during his tenure, he has taken measures to prevent crypto companies from misrepresenting their users' assets as being backed by FDIC bank account insurance. Additionally, he has called for more restrictions on the issuance of stablecoins and suggested limiting stablecoins to licensed blockchains. (The Block)

ChainCatcher news, according to a report by Fortune Crypto, SBF is one of President Biden's largest donors, and his parents are Stanford law professors closely connected to the Democratic Party. His mother, Barbara Fried, leads a group called "Mind the Gap," which helps raise funds for the Democrats in Silicon Valley, while his father, Joseph Bankman, drafted tax legislation for Senator Elizabeth Warren (D-Mass). Therefore, SBF may leverage these connections for his own benefit and not be subject to oversight by SEC Chairman Gary Gensler. (source link)