9.11 AI Daily: Trump and Harris' first debate sparked Fluctuation in the crypto market

The first presidential debate between Trump and Harris was held on September 11th. Analysts suggest that investors can follow the trend of Bitcoin to determine who has the upper hand in the debate. After the start of the debate, the rise of BTC narrowed. Polymarket data shows that Trump’s probability of winning the election has dropped to 50%, while Harris’ probability has risen to 49%.

Fed’s September rate cut expectation rises

The US August CPI data will be released tonight. Economists expect the CPI to drop to 2.6% YoY, hitting a new low since March 2021. CME data shows that the probability of a 50 basis point rate cut by the Fed in September has risen to 33%. Most economists expect the Fed to cut rates by 25 basis points in September and make two more rate cuts this year.

BitcoinComputing Power hits record high

According to BTC.com data, BTC Computing Power reached 742.76 EH/s on September 2, setting a new record. Despite market fluctuations, Miners are still installing new ASIC hardware, driving the overall rise in Computing Power.

Multicoin Capital bets big on DRIFT

Multicoin Capital said it has accumulated a large DRIFT position in its fund. DRIFT is the native token of Drift, a derivatives decentralized exchange based on Solana. Multicoin Capital believes that Drift is functionally superior to large centralized derivatives exchanges.

Beijing police cracked a case of using virtual currency Money Laundering.

The Beijing police recently cracked a case of an underground money laundering operation using virtual currency to transfer funds, involving an amount of approximately 800 million yuan. The gang used a virtual currency trading platform to assist domestic individuals with the intention of transferring funds to purchase virtual currency on a large scale, thus transferring the funds overseas.

Taproot Wizards will launch BTC native token protocol CATNIP

Taproot Wizards co-founder Udi Wertheimer said that the new BTC native Token protocol CATNIP based on OP_CAT recursive contract can solve the user experience problem of BRC-20. CATNIP allows partial fill orders in the market, and users do not need to split UTXO in advance.