faction

According to Politico, Trump expressed disappointment and dissatisfaction with Secretary of Commerce Ross and Secretary of Labor Scalia, and is considering further adjustments to the cabinet. A government official stated, "He is very angry and will make personnel changes."Previously, Attorney General Barr and Secretary of Homeland Security Wolf were dismissed one after another. U.S. officials say the fate of Scalia is under discussion, and Ross's situation is also precarious; no final decision has been made regarding the two, but insiders revealed that Trump had previously considered firing them but did not follow through.If a larger-scale adjustment occurs, it would be a significant reorganization of the U.S. federal government. The adjustments mainly target cabinet members who are "underperforming or attracting too much negative attention." Dismissing Secretary of Commerce Ross could help indicate that Trump is "making changes" on economic issues. However, a White House spokesperson stated that both are "doing an excellent job and continue to have the president's full support."

This week, a compromise proposal regarding the yield section of the Clarity Act by U.S. Senators has sparked mixed reactions within the crypto industry. Coinbase has expressed dissatisfaction with the latest compromise text to the senator's staff but has not publicly stated opposition.The proposal was presented to stakeholders in the crypto industry on Monday, with some expressing dissatisfaction while others felt the outcome was better than expected. The proposal will instruct certain regulatory agencies to formulate rules to clarify the regulatory approach to yield-generating activities, but there are concerns that regulators may set subjective standards. Additionally, the text may limit companies' ability to tie rewards to the scale of stablecoin transactions.During this week's industry conference call, Coinbase had disagreements with other parties, with some companies believing that giving up certain stablecoin rewards is too costly, while others felt that losing the Clarity Act poses a greater risk to the overall legislative framework for the crypto industry. Previously, news related to this compromise proposal had impacted the market, with Circle's stock price dropping 20% on Tuesday and slightly rebounding on Wednesday.White House crypto advisor Patrick Witt criticized the related predictions on the X platform as "uninformed" and stated that "everything will be resolved." The final text is expected to be released this weekend or early next week.

Trove Markets stated that due to the liquidity partner withdrawing the 500,000 HYPE required for the Hyperliquid integration, the project has decided to shift its development to the Solana network. Trove Markets had previously raised over $11.5 million through a token sale, which was originally intended for the Hyperliquid integration. This decision has sparked criticism from the community, with some supporters demanding immediate refunds.Trove Markets developer Unwise stated that the team will rebuild the DEX from scratch on Solana. Currently, the TROVE token generation event is still scheduled for Monday, but more time is needed for the migration and refund processing. Additionally, ZachXBT has detected multiple unusual transfers involving HYPE movements.

The Senate Banking Committee has canceled the scheduled hearing on Thursday for the CLARITY Act (the Crypto Market Structure Act) revisions. According to crypto journalist Eleanor Terrett, dissatisfaction among industry players erupted this Wednesday, with Coinbase leading the way in announcing its withdrawal of support for the bill. They complained that lawmakers made excessive concessions to banks and traditional financial institutions after proposing amendments to a lengthy 278-page bill, particularly regarding stablecoin yields and tokenization.Critics argue that the CLARITY Act itself is already biased in favor of traditional institutions. Meanwhile, some Democrats insist on establishing ethical standards for senior government officials, including the president, to prohibit them from profiting from cryptocurrency projects. Democrats have previously been at an impasse with the White House on this issue.Currently, Banking Committee Chairman Tim Scott stated in a statement announcing the postponement of the meeting that "everyone is still working sincerely at the negotiating table," but did not reveal when the committee would reschedule the review. The Senate will be in recess next week for Martin Luther King Jr. Day and will reconvene the following week. During that time, the Senate Agriculture Committee is expected to hold a review, which had also been postponed from this Thursday.

According to Fortune, stablecoin service provider Meld has completed a $7 million funding round, led by Lightspeed Faction, with participation from F-Prime, Yolo Investments, and Scytale Digital. To date, its total funding has reached $15 million.The company currently offers stablecoin payment services for businesses and individual users, aiming to create a "cryptocurrency version of Visa," supporting the purchase or settlement of stablecoins, Bitcoin, Ethereum, or any other type of digital asset globally.

X product lead and Solana advisor Nikita Bier posted on the X platform, stating that since last October, there has been a notion circulating in crypto tweets (CT) that users need to reply hundreds of times daily to achieve account growth. However, each post consumes part of the day's influence, and since ordinary users only browse 20 to 30 posts a day, the platform cannot showcase all of a user's posts to all their followers. As a result, crypto Twitter users ultimately waste all their influence on hundreds of "gm" replies, while only a few pay attention when they post substantial content like project announcements. The decline of crypto tweets stems from their own behavior rather than algorithm issues, claiming that "CT is dying from suicide."This statement sparked dissatisfaction within the crypto community, with LedgArt co-founder KALEO pointing out that Nikita Bier does not support user growth and a long-term online user base from the users' perspective, and is attempting to stifle the crypto community on the X platform. He called for Nikita Bier to resign, and currently, Nikita Bier has deleted the related tweet.

OpenEden announced on platform X that it has completed its latest round of strategic financing, with participants including Ripple, Lightspeed Faction, Gate Ventures, FalconX, Anchorage Digital Ventures, Flowdesk, Kaia Foundation, P2 Venture, Selini Capital, and Sigma Capital.

ChainCatcher news, NBA star Durant's agent Rich Kleiman and Durant previously revealed that he helped Durant purchase Bitcoin, but due to forgetting the account password, the Bitcoin was locked in the Coinbase account. This incident attracted market attention, and Coinbase CEO Brian Armstrong quickly responded, stating that he had helped Durant recover the account.However, this move sparked dissatisfaction within the crypto community, with some pointing out that their Coinbase accounts have been locked for years without recovery, facing the same issue but with a completely different solution. In response, Brian Armstrong posted on the X platform, stating that Coinbase values providing better customer support on both ends and is committed to improving products to ensure that more people do not encounter issues, while also providing a faster and higher quality experience when support is needed.

ChainCatcher news, according to Jinshi reports, Federal Reserve's Kashkari expressed satisfaction with the U.S. maintaining its reserve currency status, stating that the U.S. remains the most competitive economy in the world. The current balanced level of the job market may be 75,000 jobs per month. The latest data indicates that the economy is slowing down and moving towards a soft landing.

ChainCatcher news, according to PR Newswire, the blockchain credit protocol Credit Coop announced the completion of a $4.5 million seed round financing, led by Maven 11 and Lightspeed Faction, with participation from Coinbase Ventures, Signature Ventures, Veris Ventures, TRGC, and dlab.The new funds will be used to support its credit protocol that transforms business cash flow into programmable collateral based on Spigot smart contracts, providing real-time settlement, automated loan services, and transparent credit monitoring.

ChainCatcher news, according to Jinshi reports, although the three-month average of U.S. job growth is only 35,000, Pepperstone's research director Chris Weston stated that Federal Reserve policymakers, especially those concerned about core PCE deviating from the 2% target, will only support an "insurance rate cut" after the August non-farm data, which will be released on September 5, shows further weakness.He pointed out that the credibility of the Federal Reserve is being tested, and with core PCE expected to exceed the target by 100 basis points, a rate cut in September will be a difficult decision.

ChainCatcher news, according to The Block, decentralized messaging protocol XMTP developer Ephemera has completed a $20 million Series B funding round aimed at building and expanding its ecosystem.This round of financing was co-led by Union Square Ventures, a16z crypto, and Lightspeed Faction, with participation from Coinbase Ventures, Offline Ventures, Sound Ventures (founded by Ashton Kutcher and Guy Oseary), and Distributed Global.

ChainCatcher news, according to the Federal Reserve's mouthpiece Nick Timiraos, the Fed's meeting minutes reveal some things we already know, with officials divided into three main camps regarding the interest rate path:· Cut rates this year but exclude July (mainstream camp);· Keep rates unchanged for the year;· Advocate for immediate action at the next meeting (the minutes show that only a "minority" of attendees supported this, implying Fed governors Waller and Bowman).

ChainCatcher news, according to The Block, researchers at Cornell Tech have released an innovative technology application case called "Liquefaction."This technology allows users to temporarily control blockchain assets held by others, such as Bored Ape NFTs, under specific conditions without actually owning them. In the demonstration, users only need to pay about $2 to temporarily use an NFT worth $50,000, but they cannot perform actions like selling.The research team pointed out that this technology could impact the security models of various blockchain applications, including DAO voting, airdrops, and loyalty points.

ChainCatcher news, according to The Block, the U.S. Securities and Exchange Commission (SEC) faced strong criticism from House Democratic staff during a technical briefing on the "Clarifying Lawful Overseas Use of Data Act" (CLARITY Act), being labeled as "the worst technical assistance briefing." Staff accused SEC representatives of being unable to answer simple questions and even referred to some information as confidential, questioning their efforts to cover up the truth.Additionally, Democratic staff stated that Republicans received written technical assistance from the SEC, while they were not provided with any. The bill aims to clarify the division of responsibilities between the SEC and CFTC in cryptocurrency regulation and will be reviewed by the House Financial Services Committee in a hearing this week.

ChainCatcher news, the on-chain game engine MagicBlock announced the completion of a $7.5 million seed round financing. This round was led by Faction, a subsidiary of Lightspeed, with participation from institutions such as Maven11, Mechanism Capital, Robot Ventures, Delphi Ventures, Equilibrium, Pivot Global, and angel investors including Solana co-founder Toly.