After the initial unemployment claims were released, the probability of a rate cut in September is now at 87.3%.

On August 29th, Federal Reserve Governor Waller expressed that he is in favor of a 25-basis-point rate cut at the Fed's September meeting and anticipates further cuts within the next 3 to 6 months. He does not think there is a need for a larger rate cut in September unless the August jobs report indicates a considerable economic weakness while still maintaining good inflation control. (FXStreet)

August 29th. The attorney representing Federal Reserve Board Governor Lael Brainard contended that the mortgage dispute which led to Trump's request to fire her might have originated from an "unintentional paperwork mistake." The aim was to undermine Trump and FHFA Director Mark Calabria's fraud allegations. The legal team stated that even if there was an error, it was not done with intentional deception and no one was harmed, in line with the legal "substantive" standard. "The possibility exists that Brainard, long before joining the Board, might have mistakenly marked the home's use in the mortgage application. However, there was neither intent nor a substantive impact. This does not meet the 'just cause' necessary for removal." The attorney wrote in a filing for a temporary restraining order. The legal team also pointed out that Trump and Calabria did not even explicitly claim that Brainard reaped any benefits from the error or that the error was intentional. (Golden Finance) Earl

August 29th, xAI made an announcement about the launch of the efficient inference model Grok Code Fast 1, which showcased remarkable performance in AI-assisted programming. During the next 7 days, Grok Code Fast 1 will be freely accessible on mainstream AI programming platforms such as Cursor, GitHub Copilot, Cline, opencode, Windsurf, Roo Code, and Kilo Code. (Gold10)

On August 29th, as per Cointelegraph, the cryptocurrency asset management firm Bitwise has presented the latest Bitcoin price prediction. It is estimated that the price of Bitcoin will ascend to $1.3 million by 2035, primarily driven by institutional demand and Bitcoin's limited supply. This report was released as a part of Bitwise's "Bitcoin Long-Term Capital Market Assumptions," forecasting that Bitcoin will attain a 28.3% compound annual growth rate (CAGR) over the next decade, which significantly outpaces traditional assets like stocks (6.2%), bonds (4.0%), and gold (3.8%). In the base case scenario, Bitwise anticipates that Bitcoin will reach $1.3 million by 2035. In the bullish scenario, Bitcoin might soar to $2.97 million (CAGR 39.4%). And in the bearish scenario, it could plummet to $88,005 (CAGR 2%). This price range showcases the notable volatility in the Bitcoin market despite the growing participation of institutions. Bitcoin is no longer a market dominated solely by reta

On August 29th, based on market information, the US SEC has postponed a decision regarding the authorization of GrayScale's Ethereum Trust (ETHE) to incorporate staking functionality.

On August 29th, according to the Jupiter Data Dashboard, within the past 24 hours, in the Solana issuance platform market share ranking, pump.fun holds the top position with 83.4%, Letsbonk comes in second with 6.99%, and Believe takes the third place with 2.43%.