Coinbase(US:COIN) Sou Hu Cai Jing·2025-09-17 14:47Group 1: Federal Reserve and Market Impact - QCP Capital indicates that the Federal Reserve is expected to initiate a rate cut cycle tonight, with the first cut of 25 basis points to a range of 4.00–4.25% [1] - Despite market expectations of six rate cuts by 2026, investor focus remains on the dot plot and Powell's press conference [1] - The crypto market has underperformed compared to traditional risk assets, and the Fed's statements tonight may influence this disparity [1] Group 2: Hong Kong's Digital Asset Initiatives - The Hong Kong Chief Executive's 2025 Policy Address outlines the Monetary Authority's continued promotion of the Ensemble project, including tokenized deposits and asset trading [2] - The government aims to regularize tokenized bond issuance and enhance risk management through a regulatory sandbox [2] - The Securities and Futures Commission is developing legislative proposals for licensing digital asset trading and custody services while expanding product offerings for professional investors [2] Group 3: Ethereum Development Updates - Vitalik Buterin announced a new roadmap for Ethereum at a developer conference in Japan, focusing on increasing the mainnet gas limit for scalability while maintaining decentralization [3] - The mid-term goals include trustless asset transfers and rapid settlements between Layer 2 solutions, emphasizing the importance of on-chain privacy [3] - Long-term objectives aim to create a secure, simplified, quantum-resistant version of Ethereum with formal verification [3] Group 4: UK FCA Regulatory Changes - The UK's Financial Conduct Authority (FCA) plans to exempt certain traditional financial rules when regulating crypto companies starting in 2026, adapting to the high volatility of crypto assets [3] - The FCA will enhance cybersecurity regulations to ensure they align with actual risks [3] Group 5: Coinbase Data Breach - Details of the Coinbase data breach reveal that an employee from TaskUs stole sensitive customer information, including social security numbers and bank accounts, and sold it to hackers [3] - The breach affected over 69,000 customers, with potential losses for Coinbase estimated at up to $400 million [3]