CoinDesk Podcast Network Traders See 90% Chance for September Fed Rate Cut After Mixed July CPI Results | COINDESK DAILY
Aug 12, 2025
U.S. inflation data reveals a mixed picture, sparking speculation about the Fed's interest rate decisions in September. Bitcoin and Ethereum are at the forefront of market movements, with updates on fundraising efforts and the growing interest in Ethereum ETFs. Additionally, a new token distribution model, the Midnight Glacier Drop, aims to build a diverse community around the future of the Midnight network, inviting holders of major cryptocurrencies to participate.
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Mixed July CPI But Fed Cut Odds Rose
- July CPI showed mixed signals: headline matched forecasts but core inflation rose faster than expected.
- Traders still pushed odds of a September Fed cut above 90%, reflecting market confidence.
BitMine Targets Large ETH Accumulation
- BitMine plans to raise $20 billion to buy more Ether and already holds nearly $5 billion in ETH.
- The firm aims to acquire about 5% of total ETH supply, signaling large-scale accumulation by institutions.
Circle's Revenue Up But Net Loss Persists
- Circle reported $658 million revenue but a $482 million net loss in Q2 despite USDC growth.
- USDC circulation nearly doubled and on-chain volume surged to $5.9 trillion, showing heavy stablecoin usage.