Wu said daily selected crypto news + macro indicators this week

1. Last week, digital asset investment products saw an inflow of $245 million, including a $519 million inflow into Bitcoin, bringing its total inflow for the month to $3.60 billion and a record inflow of $19 billion since the beginning of the year. The launch of the U.S. spot Ethereum ETF led to an inflow of $2.20 billion into $ETH ETFs, but existing outflows offset this, resulting in a net outflow of $285 million for Ethereum. 2. Musk: No plans to promote any cryptocurrency Elon Musk, in the 'X Takeover' podcast, responded to questions about his current views on Bitcoin, Dogecoin, and cryptocurrencies. He stated that Bitcoin and some other cryptocurrencies are valuable. He has a preference for the original MEME coin Dogecoin because he likes 'dogs and memes.' Musk explicitly stated that he does not intend to promote any cryptocurrency, at most doing so in a 'joking manner.' If anyone sees a video of him promoting cryptocurrency, it must be a deep fake. 3. A British computer hacker, Elliot Gunton, admitted to conspiring to commit fraud and money laundering outside the UK and was sentenced to three and a half years in prison. He and his accomplices breached over 500 Coinbase accounts through phishing websites and stole over $900,000 during 2018-2019 when he was only 17-18 years old. Gunton was previously sentenced to 20 months in prison in 2019 for stealing personal data from TalkTalk customers in exchange for hundreds of thousands of dollars in cryptocurrency but avoided jail due to a 12-month rehabilitation order. 4. Compound faced accusations of a governance attack after a proposal to transfer $24 million worth of $COMP tokens from its treasury to a protocol designed by Golden Boys. Compound Finance security advisor Michael Lewellen discovered that several addresses were stockpiling $COMP tokens on the open market and made multiple proposals to transfer $COMP to a product called goldCOMP created by an organization known as Golden Boys. However, after Proposal No. 289 was passed, the leader of Golden Boys, Humpy, defended the proposal, claiming that the requested investment was set up through a binding action trust, not theft/misappropriation of funds. However, one of the five multi-signature members of Golden Boys, Ogle, stated that he was completely unaware of the proposal. 5. Google's latest version error caused users' saved passwords to disappear, now fixed Google fixed a bug in the Chrome password manager that caused users' saved passwords to temporarily disappear for over 18 hours. The glitch started on July 24, affecting about 2% of users who upgraded to Chrome 127 (the latest version of the browser) and relied on Chrome's built-in tools to store and autofill passwords. 6. Wu's macroeconomic indicators and analysis this week: Fed rate decision, non-farm data summary This week welcomes the 'central bank super week' of the US, Japan, and the UK, as well as the US non-farm data release, with a focus on the Fed rate decision and the US July non-farm data. The market generally believes that the Fed will remain inactive this time, but it is expected to release clearer signals for a rate cut in September to pave the way for an official rate cut. Last week's review ● The Bank of Canada announced a rate cut of 25 basis points, lowering the benchmark rate to 4.5%. ● The number of initial jobless claims in the US as of July 20 was 235,000, below the market expectation of 238,000 and the previous value of 243,000. ● The US real GDP annualized quarter-over-quarter preliminary value for the second quarter was 2.8%, exceeding the expected 2% and far surpassing the previous value of 1.4%. ● The US core PCE price index annualized quarter-over-quarter preliminary value for the second quarter was 2.9%, exceeding the expected 2.7% and significantly slowing down from the previous value of 3.7%. ● The US core PCE price index annual rate for June was 2.6%. ● The final value of the US July Michigan consumer sentiment index was 66.4, expected to be 66. Upcoming key events & indicators July 31 ● China's official manufacturing PMI (09:30) ● Japan's target interest rate until July 31 (11:00) ● US July ADP employment numbers (thousands) (20:15) August 01 ● Fed rate decision announcement (02:00) ● Fed Chairman Powell's monetary policy press conference (02:30) ● Bank of England rate decision, meeting minutes, and monetary policy report (19:00) August 02 ● US July unemployment rate (20:30) ● US July seasonally adjusted non-farm employment population (thousands) (20:30)