Odaily Planet Daily News: San Francisco Fed President Mary Daly said on Wednesday that given the slowdown in the labor market and her assessment that tariffs pose only a short-term threat to inflation, she believes the Fed will soon need to cut interest rates. "Inflation has been gradually declining in the absence of tariffs, and as the economy slows and monetary policy remains suppressive, inflation should continue to decline." She added that although tariffs will push up inflation in the short term, they are unlikely to have a lasting impact. At the same time, the labor market is already weak. "I think a further slowdown would be worrying, and once the labor market falters, it tends to decline quickly and severely. All of this means that we will most likely need to adjust policy in the coming months."

According to Odaily Planet Daily, crypto infrastructure company Bakkt announced it will acquire approximately 30% of Japan's Marusho Hotta, becoming its largest shareholder. It plans to rename the company "Bitcoin JP," transforming it into a Bitcoin-centric digital asset treasury platform. Upon completion of the transaction, Bakkt International President Phillip Lord will become CEO of the new company. This move is part of Bakkt's strategy to promote a global Bitcoin treasury. In June of this year, Bakkt submitted a $1 billion fundraising plan and completed $75 million in July to purchase Bitcoin and other assets. The transaction and name change still require shareholder approval.

Odaily Planet Daily reports that the United States will impose an additional 15% tariff on Japanese imports, regardless of the existing tariff rate. (Jinshi)

Odaily Planet Daily News: San Francisco Fed President Mary Daly said on Wednesday that given the slowdown in the labor market and her assessment that tariffs pose only a short-term threat to inflation, she believes the Fed will soon need to cut interest rates. "Inflation has been gradually declining in the absence of tariffs, and as the economy slows and monetary policy remains suppressive, inflation should continue to decline." She added that although tariffs will push up inflation in the short term, they are unlikely to have a lasting impact. At the same time, the labor market is already weak. "I think a further slowdown would be worrying, and once the labor market falters, it tends to decline quickly and severely. All of this means that we will most likely need to adjust policy in the coming months." (Jinshi)

According to Odaily Planet Daily, Ethereum founder Vitalik Buterin posted on the X platform that he was surprised to see so many mainstream Layer 2 platforms reach Stage 1. The next goal is to achieve fast withdrawal times (less than an hour) through a validity (also known as zero-knowledge proof) system, which is more important than reaching Stage 2. Fast withdrawal times are crucial and will reduce the cost of capital for liquidity providers. If native withdrawal times can be reduced to less than an hour in the short term and to 12 seconds in the medium term, it will further consolidate Ethereum Layer 1's position as the default platform for issuing assets and the economic center of the Ethereum ecosystem. To achieve this, we must move away from optimistic proof systems, which inherently require days-long waits for withdrawals. Historically, zero-knowledge proof technology has been immature and expensive, making optimistic proofs a sensible and secure choice. However, this is rapidly changing, with the 2-of-3 ZK + OP + TEE proof system strategy striking a balance between security, speed, and maturity. In the long term, Ethereum will ultimately enable near-instantaneous transfers of native assets across L2 via L1.

According to market news, a partial ruling was made in the Roman Storm case, with the charge of illegally operating an unlicensed remittance business found guilty, the charge of money laundering conspiracy pending, and no violation of sanctions regulations.