ECB President Lagarde Calls For Firm Safeguards on Foreign Stablecoins

Arbitrum has announced the launch of the 'DeFi Revival Incentive Program,' allocating 80 million Arbitrum tokens valued at $40 million to attract decentralized finance (DeFi) traders to participate in its on-chain money markets. The first phase of the program focuses on supporting recursive lending strategies, a DeFi strategy that leverages the same collateral repeatedly to increase leverage, aiming to enhance user returns. The incentives cover lending markets and collateral assets, including mainstream recursive lending strategy tools such as Pendle derivatives. It is worth noting that the price of Arbitrum tokens has dropped approximately 80% since its 2024 peak of $2.39. Analysts believe that this token reward initiative may further exacerbate token inflation pressure, potentially impacting market prices.

[Russian Ministry of Finance: Proposal to Lower Entry Threshold for Crypto Trading Pilot] September 5 – According to reports, Alexey Yakovlev, Director of the Financial Policy Department at the Russian Ministry of Finance, stated that there are plans to lower the threshold for obtaining the status of 'special qualified' investors in order to expand the participants eligible for organized cryptocurrency trading under the Central Bank's 'experimental legal regime' (ELR) framework. In March of this year, the Russian Central Bank proposed a three-year pilot program, which is currently only open to 'special qualified' investors. The existing criteria require holding securities and deposits totaling at least 100 million rubles (approximately $1.2316 million) or having an annual income of at least 50 million rubles (approximately $615,800) in the previous year. The specific extent of the reduction has not been disclosed, with the goal being to enhance accessibility while ensuring risks remain controllable.

[Trump Administration Submits New Arguments Seeking Court Support to Dismiss Federal Reserve Governor Cook] Odaily Planet Daily News – The U.S. Department of Justice has presented new arguments regarding why President Trump should be allowed to dismiss Federal Reserve Governor Lisa Cook, stating that her claims about a "rate cut pretext" are baseless. Cook has been accused of involvement in mortgage fraud and is currently challenging the dismissal decision. On Thursday, government attorneys once again urged the judge to reject Cook's request to block her dismissal during the litigation, reinforcing arguments made during last week's hearing. Just hours before the legal filing, reports emerged that the Department of Justice had launched a criminal investigation into Cook. The U.S. government argues that the fraud allegations, initially raised by Federal Housing Finance Agency Director Mark Calabria, constitute sufficient "grounds" under U.S. law for Trump to dismiss her. In Thursday's filing, the Department of Justice emphasized that the judge must not "second-guess" Trump's judgment regarding the grounds for dismissal and reiterated its rejection of claims that the dismissal was merely a pretext to control the Federal Reserve and push for rate cuts. "Her only 'evidence' is that the President has criticized the Federal Reserve's policies," the filing stated, "but mere policy disagreements do not imply that the President dismissed Cook for that reason." (Jin10)

[UK Proposes Strengthened Anti-Money Laundering Regulations for Crypto Firms] The UK Treasury has released a draft amendment to anti-money laundering regulations, proposing stricter oversight of cryptocurrency firms. The new rules include expanding the scope of the 'fit and proper person' test for company controllers and lowering the threshold for notifying changes in control to 10%. The consultation period for the draft ends on September 30, with parliamentary review expected in early 2026.

1. The probability of the Federal Reserve cutting interest rates by 25 basis points in September is 97.6% 2. The number of initial jobless claims in the United States has reached a three-month high, indicating a cooling of the labor market 3. SEC Chairman calls cryptocurrency regulation a key priority 4. Mega Matrix plans to raise $2 billion to support cryptocurrency investments 5. State Street Bank reveals $1.8 billion worth of Bitcoin exposure held 6. The US Senate will release the draft legislation on market structure as soon as possible today 7. Over $4.5 billion in cryptocurrency options expire, Bitcoin options are short 8. Fireblocks launches stablecoin payment network, attracting 40 institutions to participate The above is a selection of hot topics from the past 24 hours. Click to see the full article: https://www.aicoin.com/article/484158