ChainCatcher news, according to the WeChat public account of the China Financial Forty Forum, Liu Xiaochun, Vice President of the Shanghai Institute of New Finance (SFI), and Xiao Lei, a young researcher at the Shanghai Jiao Tong University China Financial Research Institute and head of investment at Kaitai Vision Fund (Hong Kong), co-authored an article titled "Reconsidering the Modern Monetary System in the Wave of Cryptocurrencies."The article points out that there have been various analyses and expectations regarding cryptocurrencies like Bitcoin in the current market. The 2024 U.S. election has further brought cryptocurrencies like Bitcoin to the forefront. However, for cryptocurrencies to truly replace existing sovereign currencies, they still face institutional realities and challenges. The vast majority of innovative applications of cryptocurrencies like Bitcoin essentially belong to financial services.In dealing with cryptocurrencies, a more valuable approach is to explore their more feasible application paths in the financial sector based on the functions and systems of modern money, combined with the technical characteristics of cryptocurrencies. This can mainly be approached from two directions: first, exploring the financial assetization path that is not linked to fiat currencies; second, developing payment and settlement tools that are linked to fiat currencies.

ChainCatcher news, according to Beincrypto, the AI-driven RWA Layer2 network Novastro has announced the completion of a $1.2 million seed round financing, led by Woodstock, with participation from Faculty group, Double peak group, Cogitent, X21, and Sam Tapaliya.According to the introduction, Novastro is an AI-driven Real World Assets (RWA) Layer 2 chain that integrates MoveVM and EigenLayer AVS. The network aims to provide Ethereum-level security while leveraging the efficient scalability of the Move language, supporting tokenized yield applications in the RWA and DeFi sectors. Its core framework is built around the RUSD stablecoin, which is specifically designed for the tokenization and trading of real-world assets.

ChainCatcher news, KOL Murad posted on the X platform, pointing out that among the 1 billion Meme coins that have emerged, the vast majority will disappear. About 15-25 of them will be "cult" Meme coins, which will perform well. Only 3-5 are expected to become "mainstream" Meme coins and gain widespread popularity.

ChainCatcher news, Coinbase CEO Brian Armstrong posted on X: "For the few who are paying attention to my latest 10b51 plan, let me provide some background: Over time, I will make some diversified investments, including investments in the moon landing plan, but I will still retain the vast majority of my Coinbase shares.For some reason, the relevant disclosures did not show the price targets, only the total number of shares that could lead to FUD. To clarify, I listed about 10% of the shares I hold in this plan, but most of the price limits are much higher than COIN's current price. I do not expect most of the shares to be executed next year (unless our performance is significantly better than expected). Coinbase is my top priority. We are just getting started, and I plan to operate it for the long term."

ChainCatcher news, aerospace startup Vast Space, founded by Ripple co-founder Jed McCaleb, has revealed its plans for a successor to the International Space Station, joining the ranks of companies like Blue Origin, founded by Amazon's Jeff Bezos."Haven-2" will serve as a dedicated laboratory in low Earth orbit, allowing visitors to conduct microgravity research. It will also become a destination for NASA's international partners to send astronauts.The company's long-term vision is for the first module of "Haven-2" to enter space and be fully operational by 2028, before the International Space Station is decommissioned and deorbited in 2031. Vast CEO Max Haot stated, "We chose this ambitious timeline and strategy as a way to disrupt the industry and win the competition."

ChainCatcher news, according to Jinshi reports, Federal Reserve's Goolsbee stated that the vast majority of Federal Reserve policymakers believe that interest rates will significantly decline in the next 18 months, with some signs indicating that inflation may fall below target levels. Given the current rates remain so restrictive, caution must be exercised. A range of broad data suggests that the labor market is cooling, and if productivity continues to grow, this implies higher economic growth, and the neutral interest rate will also rise.

ChainCatcher news, the minutes of the Federal Reserve meeting released on Wednesday show that at the meeting on July 30-31, "the vast majority of participants" believed that if the data continued to meet expectations, it might be appropriate to ease policy at the next meeting. They also noted that "many" Federal Reserve officials considered the stance on interest rates to be restrictive, and "some participants" believed that keeping interest rates unchanged amid ongoing inflationary pressures would mean that monetary policy would increasingly weigh on economic activity.The minutes also indicated that although all Federal Reserve officials agreed to keep interest rates steady in July, "several" policymakers stated that the rise in the unemployment rate and progress in reducing inflation "provided a reasonable justification for lowering the target range by 25 basis points at this meeting, or that they might have voted in favor of a rate cut." The vast majority indicated that if economic data continued to meet expectations, a rate cut might be appropriate at the next meeting. Regarding the inflation outlook, participants assessed that recent data had strengthened their confidence in inflation's continued progress toward 2%. Almost all participants believed that the factors contributing to the recent slowdown in inflation could continue to exert downward pressure on inflation in the coming months.

ChainCatcher news, Galaxy Research stated in a report that the vast majority of Bitcoin rollups will be unsustainable. Due to transaction fees, Bitcoin rollups require millions of dollars annually to maintain.Galaxy wrote, "Each individual data publication transaction can occupy up to 400KB (0.4MB) of block space, effectively taking up 10% of an entire block." With multiple rollups expected, data is anticipated to be published every 6 to 8 blocks, which could quickly push the base layer fees to new highs and make small transactions too expensive. Given the competition for block space, only rollups that can generate the most fee revenue and pay block fees will be able to sustain operations.Galaxy estimates that in a low-fee environment, when the average transaction cost is 10 sat/VB, rollups will incur $460,000 in monthly fees to maintain Bitcoin's security. In a high-fee environment of 50 sat/VB, when Ordinals or tokens minted through Runes or the BRC-20 standard are frequently active, monthly costs could reach $2.3 million.

ChainCatcher news, SEC Chairman Gary Gensler stated in a speech released before the 2023 Global Exchanges and Fintech Conference, "There is no indication that investors and issuers in the crypto securities market should not be protected by our securities laws. As I have said many times, the vast majority of crypto tokens meet the investment contract test. These tokens are promoted by teams through websites and Twitter accounts. These tokens do not come out of nowhere. Crypto securities issuers need to register their offers and sales of investment contracts with the SEC or meet exemption requirements."Gary Gensler further stated that since most crypto tokens are subject to securities laws, most crypto intermediaries must also comply with securities laws. If intermediaries do not register, it is the investors who suffer, and the U.S. financial markets may also be affected. In other areas of the securities market, exchanges, broker-dealers, and clearing functions are separated, which helps mitigate conflicts that may arise from mixing such services. Crypto intermediaries may need to separate business lines, develop rulebooks to prevent fraud and manipulation, appropriately segregate customer funds, mitigate conflicts, or change their clearing and custody methods.Regarding crypto lending and staking as a service, Gary Gensler stated that in cases over the past few decades, the Supreme Court has made it clear that the economic reality of a product (rather than its label) determines whether it falls under the provisions of securities laws. It does not matter what assets investors put into lending or staking as a service platforms (cash, gold, Bitcoin, or anything else). Customers invest their assets through the platform, which then lends or pools, stakes, and promises returns. These are all classic securities, regardless of whether they involve cryptocurrency. (source link)

ChainCatcher news, a national survey commissioned by Coinbase and conducted by Morning Consult in February this year with over 2,000 respondents from the general population, indicates that the vast majority of Americans want to see the financial system updated, and they believe that cryptocurrency can be an important part of the solution.It is reported that currently about 20% of American adults own cryptocurrency. Additionally, 29% of American adults plan to buy or trade cryptocurrency in the next 12 months. (source link)

ChainCatcher news, Travis Kling, founder and chief investment officer of the cryptocurrency asset management company Ikigai, stated on social media that the vast majority of Ikigai's hedge fund assets are on FTX, and "very little" was retrieved when exiting on Monday morning. In the short term, Ikigai will continue to trade the assets that are not stuck on FTX and will decide how to handle the risk fund, which is unaffected by FTX. As the timeline for FTX customers and potential recovery becomes clearer in the coming week, it will determine whether Ikigai will continue to operate.Travis Kling reflected: "If crypto is to recover and continue its journey of making the world a better place, I believe the entire concept of trust must be completely restructured. Bitcoin is trustless. Then we built all these trusted things around it, and those have catastrophically failed. The crypto world has not done enough to identify and expel bad actors. We have allowed too many antisocial individuals to become too powerful, and we all paid the price."Previous report, in May this year, Ikigai announced it had raised $30 million in venture capital. (Source link)

Chain Catcher news, Messari senior analyst @dunleavy89 stated that in the face of currency devaluation crises, the vast majority of euro and pound holders choose to buy BTC to maintain purchasing power, a trend that did not occur during crises before 2020 or 2021.In addition, Ethereum has not shown such a trend, and compared to the past two years, ETH's recent trading volume is quite insignificant. (Source link)

According to ChainCatcher, as reported by Quartz, Mt. Gox founder and early Ripple developer Jed McCaleb has founded a new company called Vast, aimed at building an artificial gravity space station. It is reported that as the International Space Station is set to retire in 2030, and NASA is shifting its focus to the Moon and beyond, some companies are raising funds and simulating plans for private habitats in low Earth orbit.Vast is dedicated to creating a space station with artificial gravity to improve the serious health issues caused by astronauts floating in microgravity environments. McCaleb's net worth is estimated to be in the billions, but the investment situation in Vast has not yet been disclosed, and he plans to self-fund the business by launching its first habitat. According to McCaleb, Vast's future does not depend on the cryptocurrency market; he said, "I still have a bunch of cryptocurrencies, but I know it's unstable." (Quartz)