Golden Finance has launched the 2781st issue of "Golden Morning 8", a morning report on the cryptocurrency and blockchain industry, to provide you with the latest and fastest digital currency and blockchain industry news.

China's Shiyan City probes 'Youke Chuang,' et al. , for suspected crypto pyramid schemes. Consumers warned of high returns promise. source: https://coincu.com/353730-china-investigates-crypto-projects-scheme

According to PANews, recent monitoring by @ai_9684xtpa reveals that an address identified as 0xD5B...B9c0a has accumulated 2 million PROVE tokens at an average price of $1 over the past three days. This strategic move has resulted in a floating profit of $873,000. The investor has now staked all the acquired tokens.

According to PANews, Federal Reserve Governor Michelle Bowman has highlighted the recent significant downward revision in employment growth data as a reason for the Fed to consider interest rate cuts. She noted that the evident weakness in the labor market outweighs the potential risk of future inflation increases. Bowman anticipates supporting rate cuts in all three remaining Federal Reserve meetings this year. As signs of slowing economic growth and weakening job market become more apparent, she believes it is appropriate to gradually shift from a moderately restrictive policy stance to a neutral one.

The memecoin is trading at $0. 24 as of August 9, up 7. source: https://coindoo.com/market/dogecoin-price-prediction-can-bulls-push-doge-to-2/

Bitcoin’s rally gains strength with scarcity metrics and miner support, but network activity must improve. source: https://ambcrypto.com/bitcoins-price-eyes-new-ath-but-this-gap-could-slow-btcs-rally/

According to PANews, recent data from CryptoSlam reveals a significant decline in the NFT market over the past week. The trading volume decreased by 11% to $134.9 million, with a notable drop in market participation. The number of NFT buyers plummeted by 89.83% to 73,900, while sellers decreased by 91.14% to 42,878. Despite this, the number of NFT transactions saw a slight increase of 1.60%, reaching 1,781,919. The Ethereum network recorded a trading volume of $58.5 million, marking a 23.43% decline from the previous week. In contrast, the Polygon network experienced a 56.90% increase in trading volume, reaching $17.8 million. The Bitcoin network's trading volume fell by 19.47% to $14.2 million, while the BNB Chain network saw a 33.54% rise, totaling $13.6 million. Among the high-value transactions this week were several CryptoPunks sales. CryptoPunks #1021 sold for 720 ETH, equivalent to $2,569,908. Other notable sales included CryptoPunks #9797 for 140 ETH ($503,547), CryptoPunks #7414 for 100 ETH ($341,596), CryptoPunks #7211 for 75 ETH ($292,320), and CryptoPunks #3291 for 72 ETH ($281,019).

El Salvador's new law grants investment banks the ability to hold Bitcoin, aiming to attract foreign investors. Critics argue benefits favor institutions. source: https://coincu.com/353724-el-salvador-bitcoin-investment-banks

In his view, the cryptocurrency has been moving in lockstep with the stock index, thriving during market optimism but vulnerable […] The post Bitcoin’s Rally Could Collapse With Nasdaq, Top Economist Warns appeared first on Coindoo. source: https://coindoo.com/bitcoins-rally-could-collapse-with-nasdaq-top-economist-warns/

The potential integration of Bitcoin (BTC), the world’s largest cryptocurrency, into the United States 401(k) retirement plans could open the door to a $12 trillion investment pool, marking a significant shift in mainstream adoption. With millions of Americans contributing to this plan every two weeks, even a small allocation to Bitcoin could create a steady, long-term inflow of capital far exceeding the impact of spot Exchange Traded Fund (ETF). Related Reading: Crypto Is Here To Stay—Even The SEC Can’t Do Anything About It, Analyst Says Bitcoin To Break Into 401(k) Retirement Market Bitcoin’s possible entry into the US $12 trillion 401(k) investment options could represent one of the largest structural inflows in the asset’s history. Tom Dunleavy, the Head of Venture at Varys Capital and a former senior analyst at Messari, declared in an X social media post on August 7 that cryptocurrencies in the 401(k) retirement plan are much bigger and more bullish news than the ETFs source: https://www.newsbtc.com/news/bitcoin/bitcoin-moves-into-12-trillion-sector-why-btc-in-401ks-is-a-big-deal/

Bo Hines steps down as White House Crypto Director to rejoin private sector; Patrick Witt set to succeed. source: https://coincu.com/353721-bo-hines-crypto-council-resignation

ETH, market, crypto market, who is driving Ethereum's price up? Golden Finance, is it still possible to get on board with ETH?

Ethereum at $4,200 not only set a new high in this bull market, but also became a new favorite in asset allocation for traditional listed companies.

On Wednesday, BTC fluctuated around 114,000. USDT was 7.15, and USD/CNH was 7.18. The US dollar index fell to around 98.5. Gold remained at a high of $3,368.

As assets continue to be “on-chain”, stablecoins regulated by the Hong Kong Monetary Authority will help consolidate Hong Kong’s position as an international financial center.

Harvard University’s investment arm has made one of its most notable moves yet in Bitcoin, with its holdings in a Bitcoin spot ETF now exceeding its gold holdings.

Trump has relaxed 401(k) investment restrictions, allowing retirement funds to be allocated to crypto assets such as Bitcoin. This will potentially bring in hundreds of billions of dollars in long-term funds, promote compliant products and institutionalization, and may become a major turning point in the crypto market.

With culture as its soul and economy as its backbone, non-financial RWA has evolved from brand co-governance to cultural outreach, marking the digital leap of Yikoujiu.

The "Legal Minefield" of Cryptocurrency: 6 Real Cases Tell You That These Behaviors May Lead to Life in Jail

BTC, market, crypto market, regrettable market Golden Finance, the crypto market has gone from prosperity to decline, the ecosystem has been refined, and investment has returned to value.