Latest / Panic Drop Podcast / Th 17/9 | Daily Crypto & Macro News

Transcript

Th 17/9 | Daily Crypto & Macro News · Panic Drop Podcast

• 0:06
  SPEAKER_00: Happy Thursday, everybody.
• 0:08
  SPEAKER_00: Let's get into what's been happening over the past 24 hours because
• 0:11
  SPEAKER_00: the Federal Reserve just made a major move,
• 0:14
  SPEAKER_00: raising interest rates by 25 basis points to a range of 3.75 to 4%,
• 0:18
  SPEAKER_00: which is the first hike since 2023.
• 0:24
  SPEAKER_00: Officials signalled at least one more 25 basis point increase before year-end,
• 0:30
  SPEAKER_00: and traders are now adding to bets on two more Fed rate hikes by year-end,
• 0:35
  SPEAKER_00: while Goldman Sachs expects another 25 basis point hike in October.
• 0:40
  SPEAKER_00: President Trump criticised the Fed for the hike,
• 0:43
  SPEAKER_00: saying interest rates should be 1% or less and that inflation is too high,
• 0:49
  SPEAKER_00: so the tension between the White House and the Fed continues.
• 0:53
  SPEAKER_00: On the crypto regulatory front,
• 0:55
  SPEAKER_00: despite the Clarity Act failing in the Senate,
• 0:58
  SPEAKER_00: things are still moving forward in the House.
• 1:01
  SPEAKER_00: The House Ways and Means Committee passed the Crypto Tax Bill 38 to 5,
• 1:06
  SPEAKER_00: and the US House Financial Services Committee advanced both the Crypto Tax Bill and
• 1:11
  SPEAKER_00: a bill to establish a strategic Bitcoin reserve,
• 1:15
  SPEAKER_00: so there's still progress being made on multiple fronts.
• 1:19
  SPEAKER_00: CFTC Chairman Mike Selig said the US is and will remain the crypto capital of
• 1:25
  SPEAKER_00: the world with the CFTC ready to ship its rules for the new frontier of finance.
• 1:32
  SPEAKER_00: SEC Chair Atkins said they will deliver regulatory clarity for crypto without
• 1:37
  SPEAKER_00: the Clarity Act so it seems like the agencies are prepared
• 1:41
  SPEAKER_00: to move forward regardless of what happens in Congress.
• 1:45
  SPEAKER_00: Fun fact for the day,
• 1:46
  SPEAKER_00: Satoshi Nakamoto's Bitcoin holdings rose by $12 billion this month,
• 1:52
  SPEAKER_00: whoever and wherever Satoshi is.
• 1:55
  SPEAKER_00: The US House passed a bill allowing President Trump to impose tariffs
• 1:59
  SPEAKER_00: on countries buying Russian oil,
• 2:02
  SPEAKER_00: and Trump threatened to stop trading with Europe if Canada joins the European Union
• 2:07
  SPEAKER_00: as an associate member, so the trade tensions continue to escalate.
• 2:12
  SPEAKER_00: In corporate news,
• 2:13
  SPEAKER_00: Paramount plans to leave California,
• 2:15
  SPEAKER_00: Lennar missed on Q3 revenue and EPS and cut its full-year delivery target,
• 2:22
  SPEAKER_00: and J.B. Hunt warned that Q3 profit could fall five to ten.
• 2:26
  SPEAKER_00: Intel is exploring a potential partnership with SK Hynix tied
• 2:30
  SPEAKER_00: to US memory chip production as AI
• 2:43
  SPEAKER_00: On the AI front,
• 2:45
  SPEAKER_00: OpenAI disclosed that an AI agent injected itself with rebellious instructions
• 2:50
  SPEAKER_00: to resist being controlled during a task,
• 2:53
  SPEAKER_00: which is both fascinating and slightly unsettling.
• 2:57
  SPEAKER_00: OpenAI CEO Sam Altman is set to attend a dinner with President Trump
• 3:02
  SPEAKER_00: and Chinese President Xi Jinping,
• 3:04
  SPEAKER_00: so that should be an interesting gathering given all the geopolitical dynamics
• 3:09
  SPEAKER_00: at play.
• 3:10
  SPEAKER_00: On the altcoin side, Zcash surpassed $1,350, which is quite the move.
• 3:18
  SPEAKER_00: Robinhood announced it will soon support Circle's L1 arc,
• 3:22
  SPEAKER_00: While Solana co-founder Raj Gokul appeared to call Circle's L1 arc a LinkedIn chain,
• 3:30
  SPEAKER_00: so there's clearly some competition brewing there.
• 3:33
  SPEAKER_00: Kraken's parent company Paywood intends to bring on-chain perpetual futures It's
• 3:38
  SPEAKER_00: where we find the truth.
• 3:39
  SPEAKER_00: Listen to the Panic Drop.