David Solomon expects smaller rate adjustments, points to softening labor market Goldman Sachs CEO David Solomon dismissed speculation of a 50 basis point interest rate cut by the U.S. Federal Reserve in September, even as some banks and market participants anticipate more aggressive easing. Speaking to CNBC on Wednesday, Solomon said: “Whether or not we have a 50 basis cut, I don’t think that’s probably on the cards.” Market expectations split According to the CME FedWatch Tool, only 7.8% of traders expect a half-point cut at the Sept. 17 meeting, while 92.2% anticipate a 25 basis point reduction. Standard Chartered…
Author: Blockto Team
BNB climbs toward critical resistance with strong momentum and narrowing price channel Binance Coin (BNB) is approaching a fresh all-time high, trading near $896 after a powerful multi-year rally. The price has surged within a rising channel since early 2023, and momentum suggests a potential breakout that could carry BNB beyond the $1,000 psychological barrier. The weekly chart shows BNB testing the upper boundary of its ascending wedge, with immediate resistance located between $890 and $920. This area aligns with previous rejection levels and is now a decisive zone for whether the token enters price discovery. If BNB manages a…
Company now holds over 2.1 million ETH, strengthening lead over rivals in corporate crypto adoption BitMine Immersion Technologies has reinforced its position as the largest Ethereum-holding public company with another massive acquisition this week. The firm purchased 46,255 Ether worth $200 million from digital asset trust Bitgo on Wednesday, according to blockchain analytics reviewed by Lookonchain. BitMine doubles down on ETH This is BitMine’s second large-scale Ethereum buy in just three days. Earlier in the week, the company added 202,500 ETH to its reserves, pushing its holdings past the 2 million ETH milestone for the first time. With Wednesday’s purchase,…
Regulatory shift opens tax breaks, financing support, and new opportunities for blockchain innovation South Korea is set to officially recognize crypto businesses as “venture companies” starting September 16, a move expected to reshape the nation’s digital asset ecosystem. The revision to the Venture Business Act removes long-standing restrictions that barred crypto trading and brokerage firms from qualifying for venture certification. Opening doors for crypto innovation According to the Ministry of SMEs and Startups, the change is designed to stimulate growth in blockchain, smart contracts, and cybersecurity technologies by granting crypto firms the same advantages as other venture companies. Benefits include…
A member of Russia’s Civic Chamber has proposed establishing a national crypto bank to regulate digital transactions, boost revenues, and provide infrastructure for miners. Push for a regulated crypto institution Russia could soon consider setting up a crypto-enabled bank to strengthen oversight of digital assets and address concerns over illicit activity. Evgeny Masharov, a member of the Russian Civic Chamber, said the initiative could follow Belarus’ example of launching a crypto exchange service through a major financial institution. Masharov argued that such a bank would help bring shadow transactions into the legal field, while also replenishing the federal budget’s income…
SHIB approaches crucial resistance zone after reclaiming support levels Shiba Inu (SHIB/USDT) has gained more than 6% in the past 24 hours, trading at $0.00001308 as buyers push the token toward a critical resistance zone. The move comes after a period of sideways consolidation, raising hopes of a potential breakout if momentum continues. The chart highlights SHIB climbing back into the $0.00001300–$0.00001350 resistance area, a zone where sellers have previously capped rallies. This barrier remains the immediate test for bulls, and a decisive breakout could open the path toward $0.00001600, where another major supply zone is visible. According to BITX market…
A faulty validator proposal caused some RPC nodes to fall out of sync, but Polygon’s block production continued uninterrupted. Polygon network stability restored The Polygon Foundation announced that consensus and finality functions have returned to normal after a bug temporarily disrupted parts of the network. The issue, which surfaced on Wednesday, caused several remote procedure call (RPC) nodes to fall out of sync, though onchain block production was never affected. Polygon developers deployed a hard fork to address the disruption. According to co-founder Sandeep Nailwal, the incident stemmed from a faulty validator proposal that pushed certain Bor nodes — responsible…
Stephen Miran, President Trump’s pick for the Federal Reserve Board, faces a full Senate vote after a narrow committee approval. Committee approval along party lines The US Senate Banking Committee has advanced the nomination of Stephen Miran to the Federal Reserve Board of Governors, setting the stage for a full Senate confirmation vote. In a 13-11 decision split along party lines, Republicans backed the nomination while Democrats opposed it. Miran, currently a White House economic adviser, was tapped by President Donald Trump to temporarily fill the seat left vacant by Adriana Kugler, whose term ended in August. If confirmed, his…
Buyers defend support as bulls aim for higher levels Cardano (ADA/USDT) is trading near $0.891, posting modest daily gains as the token attempts to extend its recovery rally. The move follows a successful defense of the $0.80 support zone, where buyers have consistently stepped in to absorb selling pressure. The chart highlights ADA consolidating just below the $0.90 resistance mark, a level that has acted as both support and resistance in the past. A break above this threshold could trigger an advance toward the $1.00–$1.05 zone, followed by a larger target around $1.20, where a major supply block remains. A…
Over 48,000 Nepalis turned to decentralized messaging as violent unrest forced Prime Minister KP Sharma Oli to resign. Decentralized app adoption surges in Nepal Nepal has witnessed a dramatic surge in downloads of Jack Dorsey’s decentralized messaging app, Bitchat, as violent protests over corruption escalated earlier this week. According to data shared by Bitcoin developer “callebtc,” downloads in Nepal jumped from fewer than 3,400 last Wednesday to more than 48,700 by Monday — surpassing Indonesia, which also saw an uptick amid similar demonstrations. The sudden growth was sparked by a government-imposed ban on Facebook, Instagram, WhatsApp, and YouTube, aimed at…
