TL;DR

• Elon Musk is considering altering the X blocking feature, allowing blocked accounts to still view posts.

• The Eigen Foundation anticipates lifting transfer restrictions on EIGEN tokens by September 30.

• Over 40 U.S. Republican lawmakers urged the SEC to reverse SAB 121.

• The Central Bank announced plans to reduce the deposit reserve ratio by 0.5 percentage points in the near future.

• A Citibank report revealed that global family offices’ investments in cryptocurrency have doubled compared to last year.

• According to CME Fed Watch, there’s a 51.5% chance that the Federal Reserve will lower interest rates by 50 basis points in November.

• Placeholder partners stated that reputable VCs in the crypto space are often undermined by pseudo-VCs looking to enter the private market and speed up liquidity.

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Alpha of the Day

Musk’s New Block Party: See But Not Be Heard?

Elon Musk, never one to stick to the script, is contemplating giving the X (formerly known as Twitter) blocking feature a serious makeover. His latest idea? Allowing blocked users to still peek at posts, but they’ll just have to take a backseat and not engage. It’s like being invited to the party but only allowed to stand in the corner and watch everyone else have fun. While some are excited about this new spin on online interactions, others are side-eyeing the change, wondering if it’s really blocking if you can still lurk in the shadows. Classic Musk—keeping us all guessing.

EIGEN Tokens Set Free: The Countdown Begins

The Eigen Foundation is giving its EIGEN token holders something to look forward to, as transfer restrictions are expected to lift by September 30. That’s right, those tokens that have been stuck like a traffic jam on the blockchain highway are about to get the green light. For all you EIGEN stakers out there, this feels like the crypto version of a parole hearing—finally, your assets are about to get the freedom they deserve. Now the big question: will they fly high or crash and burn post-liberation? Only time (and some savvy market moves) will tell.

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Republicans vs. SEC: The Battle Over SAB 121

Over 40 U.S. Republican lawmakers are throwing their hats into the crypto ring, demanding that the SEC hit reverse on SAB 121. This accounting guideline has been cramping the style of crypto firms, and these lawmakers are basically saying, “Enough is enough!” It’s a classic case of the government trying to figure out the wild, wild west of crypto, but these Republicans are more on the “let them be free” side of things. Whether the SEC will buckle under the pressure or stand firm remains to be seen, but one thing’s for sure—this is going to be an interesting ride.

Central Bank’s Big Move: A 0.5% Rate Reduction Coming Soon

In a move that’s sure to make some waves in the financial sector, the Central Bank is planning to drop the deposit reserve ratio by 0.5 percentage points. This might sound like a small tweak, but in central banking terms, it’s like adding a bit more gas to the money flow engine. Banks will have more money to lend, which could mean more investments, more spending, and—fingers crossed—more economic growth. So if you were waiting for a sign to invest, this might be it. Just don’t blow it all on meme stocks, okay?

Citibank’s Crypto Crush: Family Offices Double Down

According to a fresh Citibank report, global family offices are all in on crypto, doubling their investments compared to last year. It looks like these wealthy households are realizing that Bitcoin isn’t just for tech bros and Reddit traders—it’s also for the ultra-rich looking to hedge against… well, everything. As crypto slowly but surely makes its way into mainstream portfolios, these family offices are showing that digital assets are no longer just the weird cousin at the investment family dinner—they’re becoming the guest of honor.

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Fed Watch: 50/50 Shot of Rate Cuts in November

The CME Fed Watch is giving us a 51.5% chance that the Federal Reserve will cut interest rates by 50 basis points this November. It’s basically like flipping a coin—will they, or won’t they? If the cut happens, it could mean more liquidity flowing into the market, which is generally good news for investors. But with inflation lurking around like a bad Tinder date that won’t leave, the Fed has a lot to consider before making its move. So for now, we wait, watch, and hope that the flip goes our way.

Placeholder Partners Call Out “Pseudo-VCs” in the Crypto Space

Placeholder partners are throwing some shade, calling out so-called “pseudo-VCs” who just want to cash in and accelerate liquidity without caring about the long game. In the fast-paced world of crypto, where everyone’s trying to make a quick buck, the real players are getting a bit tired of the wannabes muddying the waters. It’s like trying to have a serious poker game while a bunch of amateurs keep going all-in with a pair of twos. Will these pseudo-VCs chill out, or will the real VCs have to keep pushing them aside to protect the integrity of the market?

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