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Cointime News Wrapup-Afternoon Version: Tron’s Justin Sun Slams the US SEC After Lawsuit
To smooth and facilitate the reading experience for all users, we hereby compose this wrapup, especially for users who cannot check out what’s going on in a timely manner.
according to economists surveyed, Federal Reserve officials are expected to vote next week to cut interest rates again to guard against the rising risk of a sharp deterioration in the labor market. The median of respondents shows that the Fed is expected to implement two more 25 basis point rate cuts within the year starting from March 2026. Next week's rate cut will continue the momentum of rate cuts from the policy meetings in September and October. A considerable majority also expect Fed officials to once again reiterate the statement that "the downside risks to employment have increased in recent months," as they did in October. The Federal Reserve will announce its decision at 2 PM Washington time on December 10, followed by a press conference held by Chairman Jerome Powell.
He Lifeng, China's lead for China-US economic and trade relations and Vice Premier of the State Council, held a video call with the US leads, Treasury Secretary Janet Yellen and Trade Representative Katherine Tai. The two sides had in-depth and constructive exchanges on implementing the important consensus reached by the Chinese and US heads of state at the Busan meeting and the November 24 call, focusing on carrying out pragmatic cooperation and properly addressing mutual concerns in the economic and trade field. Both sides positively evaluated the implementation of the outcomes of the China-US economic and trade consultations in Kuala Lumpur, stating that under the strategic guidance of the two heads of state, they will continue to make good use of the China-US economic and trade consultation mechanism, continuously extend the cooperation list, reduce the list of issues, and promote the sustained, stable, and positive development of China-US economic and trade relations.
Director of the White House National Economic Council, Hassett, stated: He has not discussed the Federal Reserve Chair (candidate) issue with U.S. President Trump and supports Bassett's views on the Federal Reserve Chair.
social media platform "X" was fined 120 million euros by the European Union for violating content regulations. The European Commission stated that X violated three provisions of the Digital Services Act and gave X 60 days to provide a solution and 90 days to implement it. (Jin10)
as Wall Street giants are betting on the underlying technology of cryptocurrencies to handle traditional assets, Digital Asset Holdings LLC, a blockchain company focused on the financial sector, has secured new funding. This round of investors includes institutions such as BNY Mellon and Nasdaq. According to insiders, this round of financing amounts to $50 million, with S&P Global and iCapital also participating. This is the company's new round of fundraising following the $135 million financing completed earlier this year. Bloomberg reported in June that the previous round was led by DRW Venture Capital and Tradeweb Markets, with market makers Citadel Securities, IMC, and Optiver participating.
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