Overview of Key Overnight Developments on July 17
21:00 (UTC+8) - 7:00 Keywords: CME, OpenAI, Powell, Crypto Bill 1. The probability of a Fed rate cut in September is close to 70%; 2. Trump denies drafting a letter to dismiss Fed Chair Powell; 3. The U.S. House of Representatives passes a procedural vote on a cryptocurrency bill; 4. Bank of America plans to launch a stablecoin and is awaiting legal clarity; 5. Tether Treasury mints 2 billion USDT on the Ethereum blockchain; 6. OpenAI will take a percentage of revenue from ChatGPT shopping sales; 7. CME is considering 24/7 cryptocurrency trading, explicitly excluding meme coin products; 8. Trump: Conservative stance on firing Powell, unless there is fraud in Fed renovations.
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