Federal Reserve Daley: Labor market slowdown may lead to interest rate cuts

According to The Block, Oblong, a Nasdaq listed company, announced that it has fully pledged Bittensor (TAO) tokens worth $8 million to support network operations and incentivize AI innovators. Oblong has been shifting its focus since June; Decentralized AI Vault; Strategic focus on accumulating TAO. The company previously raised $7.5 million through stock subscription to advance this strategy. In addition to Oblong, companies such as xTAO and TAO Synergies have recently made significant purchases and holdings of TAO. The current token price of Bittensor is $354.67, with a total market value of approximately $3.4 billion.

According to Ryan Rasmussen, research director at Bitwise, if cryptocurrency assets account for 1% to 10% of the total assets in a 401 (k) retirement account, the corresponding potential inflow of funds will reach $80 billion to $800 billion. According to Bitwise data, as of the second quarter of 2024, the total assets of 401 (k) plans in the United States are close to $8 trillion.

In addition to the fine, Paxos agreed to invest another $22 million into beefing up its compliance program.

Binance Futures announced that it will launch two perpetual contracts on August 7, 2025: YALAUSDT (at 0:30 am Beijing time on August 7) and CARVUSDT (at 0:45 am Beijing time on August 7), both of which support up to 50 times leverage. Users can use assets such as BTC as margin for trading in multi asset mode.

On August 7th, Federal Reserve official Bostic stated that he still expects a possible interest rate cut this year.