Rhythm Morning News｜A list of important news from last night and this morning on July 31

The Federal Reserve, the Bank of Japan and the Bank of England will all announce key interest rate decisions this week

BlockBeats news, July 31, including the Federal Reserve, the Bank of Japan and the Bank of England, will hold policy meetings this week, and the results of each central bank are expected to be at least different.

The Bank of Japan will be the first to announce its decision on Wednesday, and analysts are currently divided on whether the Bank of Japan will raise its policy rate from the current 0%-0.1% or signal an upcoming rate hike.

The Federal Reserve will announce its interest rate decision in the early hours of Thursday Beijing time. Although few people think the Fed will start cutting interest rates immediately, almost everyone expects the Fed to indicate that it will cut interest rates at its next meeting in mid-September.

The Bank of England will announce its policy decision early Thursday afternoon, and economists and interest rate markets are roughly evenly divided on whether the central bank will ease policy for the first time in several years. More certain is that even if the Bank of England does cut rates, it may indicate that it is taking a very cautious approach, suggesting to the market that a series of loose policies should not be expected.

Starknet Ecological Derivatives DEX ZKX Announces Shutdown of Protocol Due to Serious Imbalance in Revenue and Expenditure

BlockBeats news, on July 30, Eduard, founder of Starknet Ecological Derivatives DEX Platform ZKX, posted on social media announcing the cessation of ZKX protocol operations, mainly because the team could not find an economically viable path for the protocol.

Eduard explained that the platform has very poor user participation, with only a few people mining STRK and ZKX rewards. As a result, trading volume has dropped significantly, and daily income can barely cover a small portion of cloud server expenses. This makes it impossible for the team to pay salaries and other necessary business expenses. The team paid market makers more than the project revenue. In addition, the TGE did not meet expectations, and the resulting losses led to the current situation of the platform. The value of the token continues to fall as major token holders exercise their redemption rights.

All markets on ZKX have been delisted, positions have been closed, and all funds have been returned to each user's trading account. Users can transfer funds from their trading accounts to the main self-custodial account. The self-custodial ZKX account is a wallet on Starknet, and users can withdraw back to L1 at any time through the Starkway bridge.

Ethena Labs announced a partnership with Bybit to provide 20% annualized returns to USDe holders on CEX

BlockBeats reported that on July 30, Ethena Labs announced that starting from August 2, all Bybit users only need to hold USDe in their Bybit accounts or use USDe as collateral to participate in derivative transactions to earn a 20% annual interest rate benefit, paid daily, and the rewards will be distributed by Bybit to user funds accounts at 6 am UTC every day, with no minimum holding requirement.

Ethena Labs said that this integration marks an important step forward in USDe being used as a stablecoin for CEX transactions. Continue to create additional utility for USDe in CeFi and DeFi, further challenging the existing stablecoin hegemony through products tailored for crypto-native developers.

Jito announces the launch of the StakeNet Steward program mainnet

BlockBeats news, July 30, according to official news, the Jito Foundation announced the launch of the StakeNet Steward Program mainnet to advance decentralized equity pool management. As part of this launch, the Jito equity pool will transition its operational management to the StakeNet protocol from July 29, 2024, marking an important step towards building a perpetual and autonomous equity pool that will always play a key role in Solana DeFi.

Telegram game Hamster Kombat: Currently has 300 million users, 60% of tokens will be airdropped to players

BlockBeats news, July 30, according to The Block, the team behind Telegram's click-to-earn game Hamster Kombat released a new white paper on Tuesday, which contains detailed information about the project's token economics, as well as airdrop-related information.

The Hamster Kombat team claims in its white paper that the game currently has 300 million users. According to the white paper, 60% of the upcoming token airdrop will be "exclusively" for players. The rest of the funds will be used to provide market liquidity, ecosystem partnerships and grants, reward teams, and other projects.

Hamster Kombat specifically stated that since investment firms or venture capitalists have not invested in Hamster Kombat, it will not be subject to "selling pressure."

After a large transfer this morning, the Mt. Gox address in Mentougou still holds 46,162 bitcoins

BlockBeats news, on July 31, according to Ember monitoring, after transferring 33,963.888 bitcoins this morning, the Mt. Gox address in Mentougou still holds 46,162 bitcoins, worth approximately US$3.056 billion.

U.S. ETF experts: SEC no longer considers SOL and other tokens as securities and does not increase the probability of ETF approval

BlockBeats news, on July 31, The ETF Store President Nate Geraci published an article on X saying that the SEC no longer considers SOL and other tokens as securities and does not increase the approval probability of spot ETFs such as SOL.

To pass ETF approval, one of the following conditions must be met: a long enough history of SOL futures trading on CME; a comprehensive crypto regulatory framework and administrative changes.

Trump campaign raised $21 million during the 2024 Bitcoin Conference

BlockBeats news, on July 31, according to The Block, former US President Donald J. Trump's campaign team raised $21 million during the 2024 Bitcoin Conference.

It is reported that these funds mainly came from a fundraising event after Trump's speech on Saturday, which was organized by Tennessee Republican Senator Bill Hagerty and attended by 100 people. Bitcoin Magazine CEO said: "This is the second highest amount of money Trump has raised in three presidential campaigns. The funds come from a combination of industry and whales/OGs."

Trump previously reported that he personally owned between $100,000 and $250,000 worth of cryptocurrency in 2022. According to documents from the Federal Election Commission, his campaign raised a total of $221 million and currently has $128 million in cash on hand.

Analyst: Ethereum spot ETF's capital inflow may be only 15%~35% of Bitcoin ETF

BlockBeats news, on July 30, Katalin Tischhauser, head of research at Sygnum Bank, said that compared with the inflow of Bitcoin spot ETF, the inflow of ETH spot ETF in the first year of trading may drop significantly.

Katalin Tischhauser said that Ethereum's low popularity is likely to mean slower adoption, and its market value is only one-third of Bitcoin. Its relative inflow is expected to be between 15% and 35% of Bitcoin, so the inflow is expected to reach 5 billion to 10 billion US dollars in the first year. Based on current and historical market patterns, a spot Bitcoin ETF could attract $30 billion to $50 billion in inflows in the first 12 months of trading.

Russian Parliament Passes New Law to Support the Use of Cryptocurrency for Legalized International Payments

BlockBeats News, July 30, according to RIA Novosti, the Russian Parliament's lower house, the State Duma, passed the Digital Currency Cross-Border Payments Law today, which allows the use of cryptocurrencies for settlement within the framework of the experimental system.

Elvira Nabiullina, Governor of the Central Bank of Russia, said that she is already discussing trial terms with ministries and companies, and expects the first payments to be made by the end of this year.

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