Tether leads Pact Labs’ $7 million Series A funding round, driving the expansion of stablecoin USAT’s service offerings.

Multiple social media users have reported that crypto exchange Coinbase has opened registration for Chinese users. BlockBeats verified that the Coinbase platform is currently available for registration, with identity verification taking only one minute.

Goldman Sachs CEO David Solomon said that the development of artificial intelligence is still in its early stages. (Jinshi)

Federal Reserve Chair Walsh is scheduled to attend the House Financial Services Committee’s hearing on the Federal Reserve’s Semi-Annual Monetary Policy Report at 22:00 Beijing time.

According to market data from BIT (bit.com), IBM (IBM.N) plunged 23%, marking its largest single-day intraday drop since 1987. Earlier reports noted that IBM’s preliminary second-quarter revenue stood at $17.2 billion, against market expectations of $17.86 billion.

Analyst Justin McQueen said that after Federal Reserve Governor Christopher Waller delivered a hawkish speech on Monday, hinting he would support a near-term interest rate hike if core CPI came in strong, U.S. June inflation data released on Tuesday sent a clear dovish signal. The data showed core CPI was flat month-over-month, below market expectations of a 0.2% rise; the year-over-year increase stood at 2.6%, also missing forecasts. This outcome has significantly reduced the urgency for the Federal Reserve to raise rates further in the short term. In terms of market pricing, expectations for a July rate hike have cooled notably. The implied probability of a July rate hike in interest rate markets has fallen to around 15%, almost back to the level before Waller’s speech, meaning investors have nearly ruled out a July rate hike. While this does not mean the possibility of further policy tightening within the year has completely vanished, the threshold for the Fed to raise rates again has risen significantly. Analysts believe that unless the Middle East situation escalates, disrupting energy supplies again and driving a sharp rise in oil prices to reignite inflationary pressures, the Fed is more likely to keep rates steady for the coming period, with the likelihood of a near-term rate hike having dropped sharply.

According to market data from BIT (bit.com), IBM’s stock price decline has widened to 26%, marking its largest single-day drop in history.