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According to Odaily, the Federal Reserve has announced a decision to lower the upper limit of the interest rate to 5% as of September 18, down from the previous 5.50%. The expected rate was 5.25%. The Fed's dot plot indicates that the median federal funds rate is projected to be 4.4% by the end of 2024, a decrease from the previous forecast of 5.1%. This marks the first rate cut by the Federal Reserve, leading to a short-term increase in spot gold prices by nearly $20 and a 40-point drop in the U.S. dollar index (DXY). The Federal Open Market Committee (FOMC) statement noted that the risks to employment and inflation targets are balanced.

According to Odaily, the Federal Reserve has initiated a rate cut cycle, reducing the federal funds rate by 50 basis points to a range of 4.75% to 5.00%. This marks the first rate cut since March 2020.

According to Blockworks, Jupiter, a prominent swap aggregator and Solana DeFi application, recently experienced a security breach where an unauthorized user accessed its private key used for program deployments. Despite this, user funds remained safe, and the programs have since been updated to require multiple key signatures for access, enhancing security measures. The incident, while serious, did not result in any stolen funds and was met with minimal concern from the community. One commenter criticized the oversight, but overall, the reaction was subdued, highlighting the fast-paced nature of the DeFi space where such near misses are not uncommon.

Jupiter's primary feature is its swap function, which algorithmically routes trades across various liquidity venues to secure the best prices for users. This functionality has made it a widely-used tool in Solana DeFi, often outperforming competitors. Despite the recent security lapse, Jupiter's native token has maintained its value, trading in tandem with SOL. The platform has also become the third-largest in Solana DeFi by total value locked (TVL) and has seen significant inflows, with over $50 million in the past week alone.

The founder of Jupiter recently issued an apology for issues related to user experience, such as gas fee estimation, expressing regret that the products were not performing as intended. However, this has not significantly impacted Jupiter's standing in the market. The platform continues to develop new features as part of its vision for a comprehensive marketplace, drawing parallels to how Amazon used its web services to support its online marketplace.

In conclusion, Jupiter's robust swap function and continued development efforts have helped it maintain a strong position in the Solana DeFi ecosystem, despite recent security challenges. The platform's ability to deliver competitive prices and its strategic vision for future growth suggest that it will remain a key player in the space for the foreseeable future.

On Sep 18, 2024, 17:49 PM(UTC). According to Binance Market Data, Bitcoin has crossed the 60,000 USDT benchmark and is now trading at 60,050 USDT, with a narrowed narrowed 1.30% decrease in 24 hours.

According to Odaily, Ethena Labs announced on the X platform that their domain registrar account was recently compromised. As a precautionary measure, the company has disabled their website until further notice. The protocol remains unaffected, and funds are secure. Users are advised not to interact with any websites or applications claiming to be the Ethena frontend.

According to Cointelegraph, the cryptocurrency world is witnessing increasingly sophisticated scams, with the 'Pig Butchering' scam being one of the most devastating. This scam not only targets individuals' finances but also exploits their trust and emotions. The scam involves scammers gaining their victims' trust through unsolicited messages, often pretending to be someone they are not. They create a false sense of urgency, making their targets feel they need to act quickly or miss out on a seemingly lucrative opportunity. These offers usually appear too good to be true, and indeed, they are.

Two individuals, Daniel and Jose, were targeted by such scammers and suffered significant financial losses. Their experiences highlight the severe impact these scams can have on victims' lives. Despite their losses, Daniel and Jose chose to speak out and warn others. By sharing their stories on platforms like Reddit, they aim to protect others from falling into similar traps.

This cautionary tale serves as a reminder to stay informed, conduct thorough research, and remain skeptical of investment opportunities that seem suspiciously profitable.

According to Odaily, as the Federal Reserve's rate decision draws near, the outcome appears increasingly uncertain. Data from the Chicago Mercantile Exchange (CME) indicates that in the past few hours, traders have become more evenly split between betting on a 50 basis point rate cut (currently about 55% probability) and a 25 basis point rate cut (45% probability). Earlier on Wednesday, a 50 basis point rate cut was favored with a 2:1 probability advantage. However, due to strong economic data, the more conservative option of a 25 basis point rate cut has gained more support. As the likelihood of a significant rate cut decreases, U.S. Treasury yields are rising. The yield on the two-year U.S. Treasury is currently at 3.657%, up from 3.59% at Tuesday's close.

According to BlockBeats, on September 19, on-chain data analyst @ai_9684xtpa reported that an address suspected to belong to Justin Sun, starting with 0x435, staked 14,000 ETH into Lido approximately 10 minutes ago. Additionally, the same address deposited 110,705 ETH into EigenLayer.

According to Cointelegraph, asset managers REX Shares and Tuttle Capital Management have jointly launched two new exchange-traded funds (ETFs) aimed at providing leveraged exposure to MicroStrategy’s (MSTR) share performance. The announcement was made on September 18.

The ETFs, named T-REX 2X Long MSTR Daily Target ETF (MSTU) and T-REX 2X Inverse MSTR Daily Target ETF (MSTZ), are designed to offer 2x leveraged long and short exposure to MSTR, respectively. This launch follows the August introduction of a similar ETF by Defiance ETFs, which saw significant demand among retail investors for leveraged exposure to MSTR.

Eric Balchunas, a Bloomberg Intelligence ETF analyst, commented on the potential competitive landscape, suggesting that the new ETFs could trigger a “hot sauce arms race.” Defiance ETFs had previously launched the Defiance Daily Target 1.75X Long MSTR ETF (MSTX) in August, which aims to deliver 175% exposure to MSTR’s performance. This ETF saw $22 million in trading volume on its first day, which Balchunas noted might be a record for a leveraged ETF.

REX and Tuttle’s new ETFs are expected to surpass Defiance’s 1.75x MSTR ETF, which has already been successful, accumulating over $186 million in net assets. Balchunas also noted that these new ETFs could deliver volatility estimated to be about 15 times that of the S&P 500 Index (SPX).

MicroStrategy, originally a business intelligence firm, has transformed into a cryptocurrency hedge fund since 2020 under the leadership of founder Michael Saylor, who began using the company’s balance sheet to purchase Bitcoin (BTC). On August 1, MicroStrategy introduced a new performance metric called “Bitcoin Yield,” aimed at leveraging its balance sheet to accumulate BTC in a manner favorable to shareholders. On September 16, the company announced plans to issue $700 million in debt, partly to buy more BTC.

Leveraged ETFs, while offering significant exposure, come with additional risks due to the costs associated with daily rebalances to maintain leverage targets. These ETFs typically hold financial derivatives rather than the underlying stock. Greg King, CEO of REX Financial, the parent company of REX Shares, stated that the new ETFs provide traders with powerful tools to engage with a company that is pushing the boundaries in digital assets.

According to BlockBeats, on September 18, during the recently concluded Singapore 2049 DePIN-themed summit 'R3al World,' IoTeX Co-Founder Raullen and Polygon Co-Founder Nailwal jointly announced the launch of a DePIN layer supporting all chains. This DePIN layer will be initiated with the combined support of IoTeX's 2.0 DePIN modular platform and Polygon's blockchain aggregation layer, AggLayer. The collaboration aims to provide better cross-chain communication and liquidity expansion for projects integrated with the DePIN module on IoTeX, allowing users to interact on their chosen chains.

In July this year, IoTeX officially announced its 2.0 DePIN modular strategy. Under this strategy, IoTeX aims to become an open DePIN infrastructure that transcends chain and ecosystem limitations, providing support for all project teams. This collaboration with Polygon is a significant step towards building cross-ecosystem DePIN infrastructure. Raullen stated, 'Our infrastructure will enable any DePIN developer to seamlessly connect with AggLayer, allowing users to interact with DePIN applications across multiple blockchains.' Polygon Co-Founder Nailwal added, 'This integration not only opens up opportunities for deep DePIN development on Polygon but also unleashes unprecedented liquidity and expansion opportunities for DePIN projects through AggLayer. By providing a dedicated platform that seamlessly connects different ecosystems, these projects can thrive in a multi-chain world.'

According to Odaily, the U.S. Federal Trade Commission (FTC) has announced that GameStop CEO Ryan Cohen will pay a fine of approximately $1 million for violating antitrust laws. This decision comes as part of the FTC's ongoing efforts to enforce regulations aimed at maintaining fair competition in the market.

The fine imposed on Cohen underscores the regulatory body's commitment to addressing antitrust issues and ensuring that corporate practices do not hinder market competition. The FTC's action against Cohen is a significant reminder to corporate leaders about the importance of adhering to antitrust laws and the potential consequences of violations.

This development is expected to have implications for GameStop and its leadership, as the company navigates the repercussions of the fine and works to comply with regulatory standards. The FTC's decision highlights the broader regulatory landscape in which companies must operate, emphasizing the need for vigilance and compliance with antitrust regulations.

According to PANews, the Bank for International Settlements (BIS) has partnered with some of the world's largest banks and credit card companies to launch a blockchain-based project aimed at revolutionizing global cross-border payments. The Agora project, initiated in May, includes participants such as JPMorgan Chase, Deutsche Bank, UBS Group, Visa Inc., and Mastercard. A total of 41 private sector companies are involved, working alongside central banks from regions including the United States, the Eurozone, Japan, and the United Kingdom.

The BIS is exploring the creation of an international platform through Agora, which means 'market' in Greek, where tokenized assets can be bought and sold using digital currencies backed by participating central banks. These central banks issue some of the world's most significant reserve currencies. On this unified ledger, investors can conduct cross-border transactions using nearly risk-free central bank money. Currently, the only relatively safe currency is cash, which does not exist in digital form.

According to BlockBeats, on September 18, Linear Finance announced via social media that it plans to introduce a new product within the next few weeks. The company claims that this upcoming release will significantly alter the dynamics of Linear Finance.

According to Odaily, the programmable privacy network Aleo has officially announced on the X platform that its mainnet is now live. This launch allows developers to create the next generation of decentralized applications powered by zero-knowledge encryption technology.

According to Odaily, a well-known entity recognized for its strategic exits in Ethereum (ETH) trading has commenced its ninth wave of activity. In the past 10 minutes, this entity has acquired 5,659 ETH on-chain, spending approximately $13.04 million. The average purchase price was $2,304 per ETH.

According to Odaily, the recent listing of the Ethereum-based meme coin Neiro on centralized exchanges (CEX) has sparked significant discussion. On the X platform, blockchain investigator ZachXBT commented on the situation, stating, 'We are essentially back to square one. After the CEX cartel listed two NEIRO token projects, the original NEIRO project (referring to the lowercase Neiro token) has also become part of the cartel's NEIRO. This makes both tokens part of the cartel's NEIRO, despite the owner of Kabosu (the original Doge Shiba Inu) declaring that all NEIRO coins are scams.'

According to Odaily, data disclosed by SolanaFloor on the X platform reveals that Bitcoin's market capitalization has reached a new peak amid the ongoing slump in the altcoin market. The data indicates that Bitcoin now accounts for 58.47% of the total cryptocurrency market capitalization, marking the highest level since April 2021.

According to BlockBeats, on September 18, Celestia announced via social media that the Lemongrass upgrade has been successfully implemented. This marks Celestia's first mainnet upgrade, introducing one-click interactions through IBC and inter-chain accounts.

The primary changes in this upgrade include several significant improvements. CIP-6 has been implemented to establish a minimum gas price, aimed at reducing network spam transactions. CIP-9 introduces middleware for packet forwarding, enhancing the efficiency of IBC cross-chain transfers. CIP-10 sets up a new network upgrade signaling mechanism, simplifying and accelerating future upgrades. CIP-14 brings in cross-chain account functionality, boosting interoperability with the Cosmos ecosystem. Lastly, CIP-20 deprecates the Blobstream module, streamlining the network architecture to improve performance.

According to Foresight News, Rune Christensen, the founder of Sky (formerly MakerDAO), has announced that Chronicle Points, the original oracle that has supported Maker for the past seven years, has now been spun off and is available for eligible users.