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The OCC, FDIC, and Federal Reserve have cleared banks to custody crypto assets, though strict rules on security and consumer protection remain in place, prohibiting client access to private keys.
In Brief The focus in the crypto market shifts from Bitcoin to altcoins PENGU, HBAR, and XLM. PENGU leads with an 85% weekly surge due to strategic developments. HBAR and XLM witness significant rallies supported by institutional interest.
In Brief Fedwire adopts ISO 20022, boosting cross-border payment efficiency. Coins like XRP, ADA, and XLM align with the new standard. Transition presents strategic opportunities for compatible altcoin networks.
VIPBitget VIP Weekly Research InsightsAs markets begin pricing in expectations of rate cuts, on-chain trading volume continues to grow. Pump.fun is preparing to launch its token, while Letsbonk.fun is gaining momentum. For the first time last week, its number of daily token launches and "graduated" projects surpassed Pump.fun, ending Pump.fun's dominance in the memecoin launchpad space since early 2024. The wealth effect generated by Letsbonk.fun's ecosystem has also been significant. Meanwhile, the growing maturity of hybrid "spot + on-chain" products on major centralized exchanges (CEXs) is helping build strong momentum for on-chain market activity. Since the memecoin craze driven by celebrities and political figures earlier this year, market liquidity has gradually recovered from near-dry conditions. The upcoming token launch on Pump.fun may spark renewed ecosystem-level competition among launchpad platforms, generating sustained speculative momentum that continues to benefit the broader Solana ecosystem.
- 20:15All three major U.S. stock indexes closed higher.Jinse Finance reported that all three major U.S. stock indexes closed higher, with the Dow Jones Industrial Average up 0.11%, the S&P 500 Index up 0.47%, and the Nasdaq Composite Index up 0.94%. The S&P 500 Index and Nasdaq both reached new closing highs. Large-cap technology stocks generally rose, with Google up more than 4%, and Tesla and Oracle both up more than 3%.
- 20:13U.S. stocks closed with the Nasdaq and S&P 500 hitting new record highs, Tesla rose over 3%.ChainCatcher news, according to Golden Ten Data, U.S. stocks closed higher on Monday, with the Dow Jones Industrial Average preliminarily up 0.1%, the S&P 500 up 0.47%, and the Nasdaq up 0.94%, with the latter two continuing to hit new closing highs. Tesla (TSLA.O) rose 3.5%, Nvidia (NVDA.O) edged down slightly, and Google (GOOG.O) rose 4.4%. The Nasdaq Golden Dragon China Index closed up 0.87%, hitting its highest level since February 2022 during intraday trading. Alibaba (BABA.N) rose nearly 2%, and Li Auto (LI.O) rose nearly 7%.
- 19:04OpenAI Chairman: The AI Bubble Is Not Entirely Without BenefitsJinse Finance reported that OpenAI Chairman Bret Taylor is not naively ignoring the significant impact that a tech bubble could bring, but he stated that such a prospect is not without its benefits. Taylor said: "Artificial intelligence will change the economy, that's true. I believe it will create tremendous economic value in the future, just like the internet did. That's true. At the same time, I think we are also in a bubble, and many people will lose a lot of money. Both of these things can be true at the same time, and there are many historical precedents showing that these two situations can occur simultaneously." OpenAI founder Sam Altman expressed a similar view last month, warning that there will be huge winners and huge losers during the hype cycle of artificial intelligence.