Felix Pago completes $200 million Series B financing with a16z participating

Binance launches TMX trading competition, offering a $200000 prize pool. Users need to click Join on the Binance App activity page to participate; The competition only calculates the buying volume. Qualified traders can unlock a 1.2-fold trading volume bonus, and the earlier they trade, the higher the bonus. On the first day of trading, they can enjoy a 3.0-fold bonus. （Binance Wallet）

US Treasury Secretary Besson urges Japan to raise interest rates to curb the depreciation of the yen, as traditional monetary policy is susceptible to government and external factors. The Bitcoin monetary policy is pre-set by code, and new coin issuances follow a fixed rhythm and are halved approximately every four years, providing higher predictability. Bitcoin is difficult to shake off the impact of traditional financial markets in the short term. If Japan raises interest rates and drives the rapid appreciation of the yen, closing low interest yen financing transactions will trigger the sale of stocks, bonds, and cryptocurrency assets. In August 2024, the Bank of Japan's interest rate hike pushed the yen stronger, putting pressure on risky assets including Bitcoin. Technically speaking, BTC's 50 day moving average continues to rise and is close to surpassing the 200 day moving average. The moving average has lag, and the historical prediction effect of the gold cross as an independent indicator is not stable.

On September 1st, Morgan Stanley raised Robinhood's rating from hold to increase, and raised its target price from $124 to $150. Morgan Stanley pointed out that Robinhood's approximately 28 million users form the growth foundation, and predicts that new businesses such as the market will increase the asset size, trading activity, and liquidity of individual users. Among them, it is predicted that the market users will be less than 2 million, but it will contribute $156 million in revenue in the second quarter. Analysts believe that Robinhood's derivative trading platform and clearing institution Rothera will expand its distribution advantages and bring opportunities for infrastructure and third-party revenue.

Traders believe that the probability of the Federal Reserve raising interest rates by 25 basis points this month exceeds 66%. Federal Reserve Chairman Kevin Walsh made hawkish remarks at the Jackson Hole Conference last Friday, raising expectations of interest rate hikes. A week ago, market pricing showed that the probability of a rate hike in September was less than 40%.

On September 1st, according to GMGN market data, the market value of Meme coin fable on Robinhood Chain fell to $560000. The market value of the token once exceeded 10 million US dollars before plummeting. Creator Kevin Ngo claimed that his account was stolen, and the market value fell to 452400 US dollars within 2 minutes, then rebounded to 2 million US dollars. Kevin Ngo once again posted that he does not recognize any tokens, resulting in the fable market value falling to 560000 US dollars.