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Long Treasuries Under Pressure Ahead of Warsh Remarks

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Bond traders are monitoring Kevin Warsh's Jackson Hole remarks for clues about the Fed's response to ongoing inflation and fiscal concerns, Bloomberg reports.

Markets are assessing whether long-term Treasuries will extend their recent selloff in the absence of a clear signal from Warsh.

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Hugging Face Attracts Acquisition Offers Valued Up To $13 Billion

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Hugging Face, the open-source artificial intelligence community, is reportedly the target of several acquisition offers, with the combined value of the deals estimated at up to $13 billion.

ChainCatcher notes the bids, and Business Insider is the outlet that reported the information.

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Singapore to Probe Tariff Evasion and Forced-Labor Imports

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Nikkei Asia reported on Sunday that Singapore plans to examine any efforts by firms to reroute goods through the city-state to evade tariffs or to import items produced with forced labor.

Prime Minister Lawrence Wong said the government would act on credible evidence of wrongdoing, but cautioned that enforcement must be realistic given Singapore's role as a global hub for re-exports and transshipment.

He noted that the United States has raised concerns about Chinese goods routed through Southeast Asia, and cited a 12.5% tariff on Singaporean exports that Washington says exists because Singapore lacks a law banning imports of goods produced with forced labor.

Wong said Singapore will continue engaging with the United States to explain its position.

He argued that trade is becoming less free and more shaped by security concerns, and that the world is not defined by the United States and China alone, pointing to Europe, India and other middle powers.

The remarks were delivered at the National Day Rally, the annual policy speech in which Wong outlines key policy announcements.

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Kashkari: Treasury Market Functioning Normally Amid Yield Rally

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Federal Reserve Bank of Minneapolis president Neel Kashkari told Bloomberg that the U.S. Treasury market is functioning as it should.

He described the market as operating smoothly and said the recent rise in yields is unlikely to alter the central bank's policy deliberations.

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Ethereum Breaks $2,500 as Major Whales Maintain Bullish Long Positions

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Ethereum traded above $2,500 and stayed above $2,400 as on-chain activity suggested a bullish tilt among whales.

BlockBeats On-chain Detection notes that among the top 10 Ethereum contract holders, excluding the short hedge addresses of Abraxas Capital and Fasanara Capital and Wintermute's market-making address, the six remaining large whales are net long, with total long exposure of $359 million.

One notable position, linked to the so-called 819 ETH insider whale, was opened ahead of the August rally and remains in place, valued at about $48.85 million with unrealized gains of more than $10 million and no reduction in exposure.

After the August 19 rally, on-chain open interest edged lower on August 22 but has since risen back above $2 billion, indicating renewed activity.

Analysts expect additional volatility, and on-chain liquidation data shows bulls and bears are roughly evenly matched, with resistance near a move above $3,000 and support near $2,000.

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Cleveland Fed study links Bitcoin’s history of gains to higher crypto buying interest

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The Cleveland Fed released a study titled 'Do You Even Crypto, Bro? Cryptocurrencies in Household Finance' that analyzes several waves of U.S. household surveys, with each round surveying up to about 25,000 households.

The researchers identify a clear gap between cryptocurrency investors and traditional asset investors. They find that expectations for future crypto returns explain ownership more than demographic factors such as age, income, or gender, and that holders anticipate roughly 22% returns over the coming year versus about 7% for non-holders. Holders also tended to rate crypto as less risky than non-holders do.

For every 1 percentage point rise in expected crypto returns, the likelihood of owning crypto rises by about 0.8 percentage points. Across the factors examined, return expectations and risk perceptions were stronger predictors of ownership than age, income, or wealth.

When compared with stocks, bonds, and gold, the study notes that traditional asset allocation is typically more closely tied to an investor's economic background. It also reports a randomized information experiment in which participants who saw Bitcoin's gains over the prior 12 months showed higher willingness to allocate to crypto assets.

In that experiment, the share planning to allocate to crypto rose by about 2 percentage points, and the probability of actually purchasing crypto rose by about 2.5 percentage points.

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AI Trends: Zhiyuan Robots Earn Seven Medals at World Humanoid Robot Games

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Zhiyuan Robots participated in the second World Humanoid Robot Games with models including Genie G2, Lingxi X2, and Expedition A3.

In the completed scenario events, Genie G2 collected two gold medals, three silver medals, and two bronze medals for the team. Odaily reports that Zhiyuan currently leads the event's medal table.

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