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Overview of important overnight developments on July 17

21:00-7:00 Keywords: CME, OpenAI, Powell, Crypto Bill

1. The probability of a rate cut by the Fed in September is close to 70%;

2. Trump denies drafting a letter to dismiss Fed Chairman Powell;

3. The U.S. House of Representatives passed a procedural vote on the crypto currency bill;

4. U.S. banks plan to launch stablecoins, pending legal clarity;

5. Tether Treasury minted an additional 2 billion USDT on the Ethereum chain;

6. OpenAI will extract a certain percentage of revenue from ChatGPT shopping sales;

7. CME is considering implementing round-the-clock cryptocurrency trading, explicitly excluding Meme coin products;

8. Trump: Conservative stance on firing Powell, unless there is fraud during the Fed renovation.

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