Key Takeaways
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Macro Environment: U.S. July CPI came in below expectations, indicating minimal tariff pass-through effects on inflation. The data reinforced market expectations for a September rate cut, with the probability rising to 94%. Risk appetite surged, sending all three major U.S. stock indexes higher, with the Nasdaq and S&P 500 hitting record highs.
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Crypto Market: Following the CPI release, Bitcoin saw a short-term spike and closed up 1.21% overall. BitMine announced plans to raise $20 billion to purchase more Ethereum, boosting ETH sentiment and pushing ETH above $4,600—a near four-year high. Bitcoin dominance fell below 60%, with broad gains in altcoins.
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Outlook for Today: 2027 FOMC voting member and Richmond Fed President Barkin to deliver remarks.
Main Asset Changes
| Index | Value | % Change |
| S&P 500 | 6,445.75 | +1.13% |
| NASDAQ | 21,681.90 | +1.39% |
| BTC | 120,119.10 | +1.21% |
| ETH | 4,589.76 | +8.66% |
Crypto Fear & Greed Index: Crypto Fear & Greed Index: 73 (vs. 68 a day earlier) — classified as “Greed“
Project Highlights
Trending Tokens: ETH, XRP, CYBER
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XRP (+4%): U.S. SEC announced a settlement in its case with Ripple.
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CYBER (+49%): Listed on Upbit, surging 150% before retracing.
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DEEP (+13%) / WAL (+5%): Grayscale launched DeepBook and Walrus Trusts.
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ZORA (+6%): Vitalik endorsed Zora’s app, suggesting Ethereum addresses be supported as account recovery methods.
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KAIA (+2%): Kakao’s Kaia plans to launch a KRW stablecoin.
Macro Economy
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U.S. July CPI +2.7% YoY (slightly below expectations); core CPI +3.1% YoY (above expectations).
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Fed’s unofficial mouthpiece: July CPI unlikely to prevent a September rate cut.
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Trump: Powell should cut rates immediately and faces potential major lawsuit.
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White House: Trump considering suing Powell over Federal Reserve building renovations.
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U.S. Treasury Secretary: Fed has structural issues; hopes to find someone to reform it; suggests Fed consider a 50 bps cut in September.
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Trump administration plans to reform employment data reporting; Trump’s nominee for BLS head once suggested halting monthly jobs reports.
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U.S. national debt surpasses $37 trillion for the first time.
Industry Highlights
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U.S. SEC announced settlement with Ripple in ongoing lawsuit.
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Kazakhstan’s Fonte Capital launched Central Asia’s first spot Bitcoin ETF.
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KuCoin, via DigiFT, becomes first to support UBS uMINT as collateral.
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BitMine planning $20B fundraising to buy more Ethereum.
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Peter Thiel doubles down on Ethereum treasury strategy, taking a 7.5% stake in ETHZilla after investing in BitMine.
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Norway’s sovereign wealth fund indirectly holds exposure to 7,161 BTC.
This Week’s Outlook
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Aug 13: 2027 FOMC voting member, Richmond Fed President Barkin speech.
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Aug 14: U.S. July PPI; 2025 FOMC voting member, Chicago Fed President Goolsbee speech on monetary policy.
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Aug 15: Russia–U.S. leaders summit; U.S. July retail sales; Ghana deadline for VASP registration; FTX to begin next round of claims registration, releasing $1.9B in disputed creditor reserve funds.
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