JH Kim

Kevin Hassett, director of the White House National Economic Council (NEC), stressed the need for the Federal Reserve (Fed) to make further interest-rate cuts. According to Walter Bloomberg, a breaking-news economics channel, Hassett said in a Fox News interview on the 9th (local time) that "the Fed needs to cut rates further," adding that "given current economic conditions, there is still room to ease monetary policy." He also said regarding employment statistics from the U.S. Bureau of Labor Statistics (BLS) that "work to secure more reliable figures is well under way," adding that "it is important to improve the accuracy and reliability of employment indicators."

U.S. President Donald Trump is facing controversy after posting unpublished employment figures on social media ahead of the official release. According to Walter Bloomberg, a breaking-news economic feed, on the 9th (local time) President Trump posted a chart on his social media platform Truth Social that said private-sector job gains totaled 654,000. The figure was part of the U.S. Labor Department’s December employment report, which was scheduled for official release the following morning—about 12 hours later than Trump’s post. The White House has not issued an official statement regarding the post. It is, however, widely known that the president typically receives advance briefings on major economic indicators one day before their official publication. The episode has fueled debate over a potential leak of sensitive economic data, with continued questions being raised about market fairness and equal access to information.

Donald Trump, the US president, is reported to have made clear that he has no intention of pardoning Sam Bankman-Fried (SBF), the founder of FTX. The New York Times (NYT) reported on the 9th (local time) that in recent conversations with people around him, President Trump said he was not considering a pardon for SBF. SBF is serving a prison sentence after being convicted of fraud in connection with the collapse of FTX.

Temple Digital Group, a privacy-focused infrastructure developer, has launched a cryptocurrency trading platform for institutional investors. According to Cointelegraph, a digital asset (cryptocurrency) industry publication, on the 8th (local time), the platform was built on the Canton Network and adopts a non-custodial structure that does not take direct custody of assets. This enables institutional investors to trade cryptocurrencies and stablecoins 24 hours a day. Temple Digital said the platform was designed with both privacy protection and regulatory friendliness in mind, and is focused on strengthening the link between traditional financial institutions and digital asset markets.

According to Walter Bloomberg, an economics breaking-news channel, on the 8th (local time), US President Donald Trump warned that the United States would respond very forcefully if the Iranian government continues killing protesters, amid large-scale demonstrations recently unfolding in Iran. Trump was quoted as telling reporters, “If Iran starts killing people again like in the past, the United States will hit very hard.” The remarks came as protests against surging prices and the economic crisis spread across Iran. Earlier, Trump also wrote on social media that “if Iran violently kills peaceful protesters, the United States will save them,” signaling the possibility. Trump’s comments are being interpreted as a warning of possible direct US intervention if Iranian authorities continue their hardline crackdown, fueling controversy in the international community over human rights issues in Iran and rising military tensions.

The three major U.S. stock indexes closed mixed. On the 9th, the Nasdaq Composite fell 0.44% from the previous day to 23,480.02 points. The Dow Jones Industrial Average rose 0.55% to 49,265.68 points, while the S&P 500 fell 0.02% to end at 6,919.53.

JPMorgan said it is aiming to build a multi-chain digital currency system with interoperability and regulatory compliance. According to CoinDesk, a media outlet specializing in virtual assets (cryptocurrencies), on the 8th (local time), JPMorgan plans to roll out its deposit token, JPM Coin, not only on public blockchain networks but also on its own tokenization platform, Kinexys. It also intends to gradually expand the range of fiat currencies supported by JPM Coin. JPMorgan has already launched JPM Coin on Base and the Canton Network, and is expanding inter-institution payments and tokenized financial infrastructure on that basis. The initiative is seen as part of a strategy to build a regulation-friendly digital currency ecosystem that bridges traditional finance and blockchain technology.

U.S. President Donald Trump said he has not yet discussed his decision with anyone regarding the selection of the next chair of the Federal Reserve (Fed). According to The New York Times (NYT) on the 8th (local time), Trump said in an interview, "I haven't talked to anyone about the Fed chair selection," while adding, "In my mind, I’ve already made a decision." The remarks come as market speculation continues over candidates for the next Fed chair, and are seen as signaling that while Trump is managing the timing of the appointment, he has internally settled on a direction for the final pick. Trump has publicly criticized current Fed Chair Jerome Powell’s monetary policy and has repeatedly indicated he prefers a successor who is more proactive about cutting interest rates.

According to DL News, a media outlet specializing in virtual assets (cryptocurrencies), about 75,000 blockchain startups were newly established in China last year. The outlet said the number of blockchain-related companies currently operating across China totals about 290,000. This is seen as the result of the central government's push to foster blockchain technology, combined with active participation from local governments and the private sector. While China maintains strict regulations on virtual-asset trading and mining, it has steadily expanded investment in non-speculative blockchain applications such as supply-chain management, data authentication, digital administration, and financial infrastructure. This policy stance is being credited with driving the rise in startup formation.

Bitcoin (BTC) has briefly reclaimed the $91,000 level. As of 02:08 on the 10th, BTC is trading at $91,158.73 on Binance’s Tether (USDT) market, down 0.13% from the previous day.

According to crypto-focused media outlet CoinDesk on the 8th (local time), Polygon Labs plans to launch by year-end a modular framework dubbed 'Open Money Stack' that supports cross-border stablecoin payments. A key feature of Open Money Stack is its compatibility with various blockchains, and it is designed so that financial institutions and fintech companies can select and combine functions as needed. This makes it possible to integrate core components—such as on-chain payments, fiat on/off-ramps, and compliance tools—within a single architecture. Polygon Labs expects the framework to help cut costs and processing times in cross-border payment processes and to contribute to accelerating the buildout of global payments infrastructure using stablecoins.

According to Walter Bloomberg, an economic newsflash channel, on the 8th (local time), the Federal Reserve Bank of New York (New York Fed) said consumers’ short-term inflation expectations edged up, while medium- to long-term inflation expectations were unchanged. The New York Fed said one-year-ahead expected inflation as of December came in at 3.4%. That marks a 0.2%-point increase from 3.2% in November. By contrast, medium- and long-term inflation expectations held steady. Three-year-ahead expected inflation was unchanged from the previous month at 3.0%, and five-year-ahead expected inflation also stayed flat at 3.0%. Markets are interpreting the data as a signal that concerns over near-term price pressures have risen somewhat, but confidence in longer-term price stability remains intact.

Coincheck Group, a Nasdaq-listed Japanese crypto asset (cryptocurrency) exchange, is set to acquire the majority stake in Canadian digital asset investment manager 3iQ. According to crypto-focused media outlet Crypto Briefing on the 8th (local time), Coincheck Group signed an agreement to acquire 97% of 3iQ, a Toronto-headquartered digital asset manager. The deal value is $112 million. The acquisition is part of Coincheck Group’s strategy to expand its global asset-management business, aiming to strengthen the competitiveness of its digital asset products for traditional financial institutions and institutional investors. 3iQ is a leading Canadian digital asset manager that has run Bitcoin- and Ethereum-based investment products and maintains a network of institutional investors across North America. The acquisition process is expected to be completed in the second quarter of this year, and upon closing, 3iQ will be incorporated as a subsidiary under Coincheck Group.

The three major U.S. stock indexes are trading mixed. As of 00:51 on the 9th, the Nasdaq Composite Index was down 0.62% from the previous session at 23,439.04 points. The Dow Jones Industrial Average was up 0.30% at 49,145 points, while the S&P 500 Index was down 0.08% at 6,915.40.

The three major U.S. stock indices closed mixed. On the 8th, the Nasdaq Composite rose 0.23% from the previous day to 23,601.43 points. The Dow Jones Industrial Average fell 0.93% to 49,001.36 points, and the S&P 500 fell 0.32% to 6,922.31 points at the close.

Goldman Sachs expects silver prices to continue extreme volatility, alternating between rises and falls for the time being, and recommended a cautious approach for investors sensitive to volatility. On the 7th (local time), according to the economic breaking news channel Walter Bloomberg, Goldman Sachs said in a report, "There is a high likelihood that silver prices will show large two-way price movements as supply and speculative demand act simultaneously," and described it as "an environment in which short-term sharp rises followed by sharp declines can be repeated." However, it drew a line regarding the possibility of the United States imposing tariffs on silver imports. Goldman Sachs said, "At present, it views the likelihood that the United States will impose tariffs on silver as low." Market participants are noting that, given the characteristic of the silver market where industrial demand and precious metals investment demand operate simultaneously, volatility can increase depending on changes in macro variables.

A U.S. Treasury advisor said the Federal Reserve (Fed) should continue its policy of cutting the policy rate. On the 7th (local time), according to economic news channel Walter Bloomberg, U.S. Treasury advisor Lavorgna said in recent remarks, "The Fed should continue cutting rates." Lavorgna emphasized that interest rate policy could have an important impact on future economic trends and reportedly mentioned the need to maintain a monetary easing stance. His remarks came amid growing market attention on recent U.S. economic indicators and the direction of monetary policy. Markets are paying attention to how the Fed will adjust the speed and magnitude of future rate cuts, and are watching what impact the Treasury advisor's remarks will have on policy discussions.

On the 7th (local time), according to on-chain analysis account Lookonchain, Hyperliquid-named trader James Wynn (James Wynn) was liquidated 12 times in the past 24 hours due to the market decline.

It was pointed out that if the United States bans or restricts interest payments on stablecoins, it could have a serious adverse effect on the global competitiveness of stablecoins. Coinbase chief executive officer (CEO) Brian Armstrong expressed concern about the United States' stablecoin policy direction on the 7th (local time) on his X (formerly Twitter). He said, "If the United States bans or restricts interest payments on stablecoins, it will greatly weaken the competitiveness of U.S. stablecoins." Armstrong cited China's policy as a comparative example. He explained, "The People's Bank of China announced guidelines allowing interest payments on central bank digital currency (CBDC) wallets," adding, "that is likely because they judged it could provide tangible benefits to ordinary citizens and act as a competitive advantage." He went on to point out, "If the United States maintains its current policy stance, it is likely to be at a disadvantage in the global stablecoin competition." He added that regulations that constrain innovation in the stablecoin market could have a negative impact on the long-term growth of the U.S. fintech industry. Armstrong also took a critical stance on excessive intervention by policymakers. He said, "It is desirable to let market mechanisms operate on their own," emphasizing that development through competition and choice is needed rather than regulation. Recently, in the United States, discussions have continued over whether to allow interest payments in connection with stablecoin regulation. The industry views the policy as directly tied to the international standing of dollar-backed stablecoins, and is on alert for future legislative and regulatory directions.