September 2025 Monthly north The Federal Reserve is poised to resume its rate cutting cycle in September. Markets briefly flirted with the idea of a 50-basis point move, but sticky core inflation, a larger-than-expected jump in producer prices, and firm retail sales have settled expectations at a quarter-point cut. The [...]
Chop Fest in FX Continues north Overview: Ahead of the long holiday weekend in North America, the US dollar is trading with a slightly firmer bias in narrow trading ranges. The drama around the Fed has intensified with FHFA Director Pulte sending a new criminal referral against Governor Cook regarding a third mortgage, while [...]
Protocol Update 003 — Improve UX north A few months ago, we announced a renewed focus of Protocol on three strategic initiatives: Scale L1, Scale blobs, Improve UX. Following previous updates on Scale L1 and Scale blobs, this note relates to our “Improve UX” track, and its mission: **Seamless, secure and permissionless experience [...]
The Ecosystem Support Program's Next Chapter north The EF’s Grants Program launched in 2018 and has evolved over time to become the Ecosystem Support Program (ESP), providing grants and support to builders that help the Ethereum ecosystem thrive. Our mission is to enable work that strengthens Ethereum’s foundations and empowers future [...]
China Allows Faster Yuan Appreciation, while Follow-Through Selling Weighs on the Greenback north Overview: After yesterday's setback in North America, the greenback remains under modest pressure today. It is lower against all the G10 currencies. The dollar also is softer against most emerging market currencies. The dollar was fixed at a new low for the year against the Chinese yuan. The [...]