S&P 500 and Nasdaq Both Hit Historic Highs, Driven by Federal Reserve Rate Cut Expectations
MarsBit News, on August 13, Wall Street remained calm, with inflation data in line with expectations intensifying market speculation about a Fed rate cut in September, driving stock market gains and lowering short-term bond yields. All major sectors of the S&P 500 index rose, with the index up 1.1%, reaching a historic high. The Nasdaq 100 index also reached a record high. The Russell 2000 small-cap index rose 3%. Although the initial momentum of Treasury bonds weakened, the money market estimates a roughly 90% probability of a Fed rate cut next month. The two-year Treasury yield, more sensitive to upcoming policy changes, fell 4 basis points to 3.73%.
The US dollar declined. The US core inflation rate rose to its highest level since the beginning of the year, but slow commodity price increases alleviated concerns about tariff-driven pressures. In the stock market, renewed bets on low interest rates drove the rally, supported by continued AI enthusiasm and strong corporate earnings.
Korean Crypto Mogul Do Kwon Pleads Guilty in New York Court
MarsBit News, according to Jin Shi, Korean crypto mogul and Terra cryptocurrency company co-founder Do Kwon pleaded guilty to two charges of wire fraud and conspiracy to commit fraud in the US Federal Court in New York.
Shareholders, Including Circle CEO, Plan to Sell 8 Million Shares
MarsBit News, on August 13, according to Bloomberg, Circle Internet Group, the issuer of stablecoin USDC, and its shareholders plan to collectively sell 10 million shares. According to documents submitted to the US Securities and Exchange Commission, Circle will sell 2 million shares, and shareholders, including co-founder and CEO Jeremy Allaire, will sell 8 million shares. Based on Tuesday's closing price of $163.21, the total stock offering is approximately $1.63 billion.
Expected Federal Reserve to Cut Rates Three Times This Year, 25 Basis Points Each
MarsBit News, according to Jin Shi, CITIC Securities research report indicates that US July inflation was roughly in line with expectations, with tariffs continuing to moderately push up prices and service inflation rebounding. CITIC Securities expects the Federal Reserve to cut rates three times this year, 25 basis points each.
pump.fun Sold 86,000 SOL 5 Hours Ago, First SOL Sale After Token Issuance
MarsBit News, on August 13, according to Ember monitoring, the pump.fun team sold 86,000 SOL for 16.28 million USDC 5 hours ago, which is likely their first SOL sale after token issuance. At 2:30 AM, pump.fun transferred 86,000 SOL from the fee wallet and a wallet that previously executed PUMP buyback to Kraken. These SOL were then withdrawn from Kraken and sold on-chain at an average price of $189, converted to 16.28 million USDC, and transferred back to Kraken.
Ethereum Foundation-Related Address Sells 1,694.8 ETH in Past 2 Hours, Approximately $7.72 Million
MarsBit News, on August 13, according to on-chain analyst Ai Yi (@ai_9684xtpa), an Ethereum Foundation-related address sold 1,694.8 ETH on-chain in the past 2 hours, approximately $7.72 million. The selling address currently holds 1,500 ETH, previously receiving 20,756 ETH from Ethereum Foundation 8 years ago, traceable to 10 years ago when ETH price was only $0.875.
Core Inflation Rebound Intensifies Federal Reserve Internal Disagreements
MarsBit News, according to Jin Shi, CICC research report indicates that US July core CPI seasonally adjusted month-on-month rose 0.3%, year-on-year rebounding from 2.9% to 3.1%, higher than market expectations; overall CPI month-on-month rose 0.2%, year-on-year maintained at 2.7%, slightly lower than expected. Analysts believe that increased inflation stickiness may intensify internal Federal Reserve disagreements, affecting policy consensus, and market volatility will increase.
US National Debt Exceeds $37 Trillion for the First Time
MarsBit News, on August 13, as of August 12 local time, the total US national debt first exceeded $37 trillion as the US federal government continues to accumulate debt at a record pace. The latest data from the US Treasury shows that as of that afternoon, the total US national debt reached $37,004,817,625,842. Maya McGinnis, chair of the US Federal Budget Accountability Committee, stated that the US fiscal situation is seriously unbalanced, yet Congress continues to worsen the situation. (Jin Shi)
MarsBit News, according to market sources, for weeks, investors have been flowing into swap contracts, options, and direct long positions on US Treasuries, betting that slowing inflation will allow the Federal Reserve to lower borrowing costs in the coming months. This view was initially verified on Tuesday: after July inflation data was released, short-term Treasury yields fell, and swap contract traders pushed the September rate cut probability to 90%. More notably, market bets on a Federal Reserve rate cut exceeding 25 basis points in September are gaining momentum. Traders added about $2 million in premiums to Secured Overnight Financing Rate (SOFR) related positions that would benefit from an unexpectedly large rate cut. "Today's inflation data, though slightly stronger than previous months, is far below many people's concern levels," said Rick Rieder, BlackRock's Global Fixed Income Chief Investment Officer, in the report. "Therefore, we expect the Federal Reserve to start rate cuts in September, and there is even a reasonable basis for a 50 basis point cut." Additionally, Goldman Sachs' trading and research team previously stated that the market underestimates the possibility of a 50 basis point rate cut in September.
MarsBit News, on August 13, according to HyperInsight real-time monitoring, multiple whales frequently operated in the Hyperliquid contract market over the past 6 hours, with some short whales choosing to significantly reduce short positions while continuing to "hold positions": Whale with 0x7fdafde address: FARTCOIN short position increased by $810,000, currently with $2.8 million floating profit, liquidation price $2.632. ETH short position currently with -$5.98 million floating loss, entry price $4,037. Whale with 0x8af700 address: SUI short position currently with -$3.51 million floating loss, entry price $2.32; XRP short position currently with -$7.15 million floating loss, entry price $2.11. Whale with 0x2ba553 address: BTC long position increased by $6 million, currently with $650,000 floating profit, liquidation price $52,630.649. Whale with 0x5b5335 address: ETH short position increased by $850,000, currently with -$5.98 million floating loss, liquidation price $4,882.425.
DeFi Development Q2 Financial Data: Holds 1.3 Million SOL, Daily Revenue Around $63,000
MarsBit news, on August 13, DeFi Development Corp (DDC) released a shareholder letter on Tuesday, disclosing that the company currently holds over 1.3 million SOL tokens, with a total value close to $250 million. The report shows that the company increased its holdings by 4,500 SOL in just the first two weeks of August. DDC's second-quarter financial data indicates quarterly revenue of $1.98 million, a year-on-year growth of 395%; net profit reached $15.4 million, compared to a loss of $800,000 in the same period last year. The company expects its validator and staking business to achieve a 10% annual yield, which, based on current token holdings, generates approximately $63,000 in daily SOL-denominated income. (The Block)
Ethereum ecosystem early participant Russell Verbeeten deposited 444.653 ETH to Kraken 3 hours ago
MarsBit news, on August 13, according to on-chain analyst Ai Yi (@ai_9684xtpa), Russell Verbeeten's (@rverbee) associated wallet deposited 444.653 ETH, worth approximately $2.05 million, to Kraken 3 hours ago. Russell Verbeeten, who previously served as a ConsenSys ambassador and is an early participant in the Ethereum ecosystem, made his first ETH operation in 11 months.
A whale bought 114,545 HYPE at an average price of $44.48
MarsBit news, on August 13, according to on-chain analyst Onchain Lens (@OnchainLens), a whale deposited $5.09 million in USDC to HyperLiquid and purchased 114,545 HYPE at a price of $44.48. In previous HYPE trades, this whale earned over $640,000.
Trump's crypto investments have generated $2.4 billion in profits
MarsBit news, on August 13, according to Cointelegraph, since 2022, President Trump's cryptocurrency investments have generated $2.4 billion in profits. The report states that this income accounts for 43.5% of his personal wealth accumulated during his political career, including profits from Non-Fungible Tokens, World Liberty Financial, and Bitcoin mining investments.
Data: Bitcoin miners have sold over 2,000 BTC in the past 3 days
MarsBit news, on August 13, according to CryptoQuant data, Bitcoin miners have sold over 2,000 BTC in the past 3 days.
