Gate Daily (September 17): Trump sues The New York Times over TRUMP meme coin; Google launches Open Source protocol for stablecoin AI payments.

Bitcoin (BTC) rebounded ahead of the Federal Reserve's decision, temporarily reporting around $116,600 on September 17. U.S. President Trump launched a $15 billion lawsuit against The New York Times, accusing the paper of deliberately damaging his reputation and the official meme coin TRUMP plan. Google launched an Open Source protocol for AI payments supporting stablecoins, and a subsidiary of Deutsche Börse introduced institutional over-the-counter settlement.

Today's Outlook

1. The change in API crude oil inventory in the U.S. last week (in 10,000 barrels) (as of 0912) was 125, the previous value.

2. UK August Consumer Price Index (year-on-year), previous value was 3.8%

3. Eurozone August Consumer Price Index Final Value (Monthly Rate), Previous Value was 0.2%

4. Eurozone August Consumer Price Index final value (year-on-year), previous value was 2.1%.

5. US August new housing starts (annualized month-on-month rate), previous value was 5.2%

6. Canada's overnight target rate, previous value was 2.75%.

7, Change in U.S. EIA Crude Oil Inventories (10,000 barrels) (as of 0912), previous value was 393.9

8. Trump, the President of the United States, is on a state visit to the United Kingdom.

9. The Bank of Canada announces interest rate decision.

Macro Events & Coin Circle Hotspots

1. U.S. President Trump has filed a $15 billion lawsuit against The New York Times, claiming that the paper and several journalists intentionally damaged his reputation and the official Trump meme coin TRUMP project. Trump issued a statement on Truth Social, accusing The New York Times of "lying and defaming" for years, believing these statements benefit the Democrats. He emphasized that the paper's support for Vice President Kamala Harris in the last election is evidence of bias, and described this lawsuit as a response to what he perceives as partisan attacks. According to him, "They have long deliberately abused their power, which is both unacceptable and illegal. The New York Times has long been allowed to lie, smear, and defame me with impunity, and this behavior must stop immediately! The lawsuit will be filed in the great state of Florida." A spokesperson for The New York Times stated that the lawsuit lacks any legitimate legal basis and "seeks to suppress and hinder independent reporting."

2. Google has launched an open source protocol that allows artificial intelligence (AI) applications to send and receive payments, including transactions made with stablecoins—highlighting the growing role of cryptocurrencies pegged to the dollar in the emerging AI-driven network. According to a report by Fortune on September 16, the initiative was co-founded by Salesforce, American Express, and more than 60 other companies, with the Ethereum Foundation also involved in consulting for the project. James Tromans, head of Google Cloud Web3, confirmed the news, stating that the protocol aims to support "existing payment rail functionalities as well as upcoming features such as stablecoins."

3. Deutsche Börse Group subsidiary Crypto Finance has launched a new over-the-counter settlement solution to enhance capital efficiency and trading flexibility for institutional cryptocurrency investors. The new product Crypto Finance AnchorNote allows institutions to trade across different platforms without having to move assets out of custody. According to the announcement released on September 16, the product also helps them earn returns in over-the-counter settlement trades in a compliant and risk-controlled environment. Philipp Dettwiler, Head of Custody and Settlement at Crypto Finance, stated: "With Crypto Finance AnchorNote, we are bridging the critical gap between custody and capital efficiency." The launched blockchain service will initially focus on the Swiss market, with plans to expand to a broader area in Europe soon.

Market Trends

1. Latest news on Bitcoin: $BTC has rebounded before the Federal Reserve's decision, currently reported at around 116,600 USD, with a liquidation of 23.18 million USD in the past 24 hours, mainly from short positions;

On September 16, the three major U.S. stock indexes closed lower after a volatile session, with investors remaining cautious ahead of a decision from The Federal Reserve (FED), taking a breather from record gains. The Dow Jones Industrial Average fell by 125.55 points, a decrease of 0.3%, closing at 45,757.90 points; the S&P 500 index dropped by 8.52 points, a decline of 0.1%, closing at 6,606.76 points; the Nasdaq Composite Index decreased by 14.79 points, less than 0.1%, finishing at 22,333.96 points, ending a six-day streak of gains. The Philadelphia Semiconductor Index rose by 0.3%, marking the longest consecutive gain since 2017.

(Source: Gate)

3. In the Gate BTC/USDT Settlement map, based on the current 116,796.40 USDT, if it drops to around 114,545 USD, the accumulated liquidation amount for long positions exceeds 820 million USD; if it rises to around 117,859 USD, the accumulated liquidation amount for short positions exceeds 803 million USD. The liquidation amount for shorts is higher than that for longs, so it is advisable to reasonably control the leverage ratio to avoid triggering large-scale liquidations during market fluctuations.

(Source: CoinGlass)

4. In the past 24 hours, BTC spot inflow was $1.66 billion, outflow was $1.90 billion, resulting in a net outflow of $240 million.

(Source: CoinGlass)

5. In the past 24 hours, contracts such as $ETH, $DOGE, $SOL, $XRP, and $DOT have experienced net outflows, indicating trading opportunities.

News Dynamics

1. Movement network will transform into a Layer 1 blockchain, supporting native token staking and Move 2.0.

2. The SEC delays the approval decision for the TRUTH SOCIAL spot Bitcoin ETF.

3, An address containing 1000 BTC was activated after being dormant for 11.7 years.

4. Insider: Galaxy Digital plans to launch its own tokenized money market fund.

5. Financial Times: The UK and the US plan to embark on closer cooperation in cryptocurrency regulation.

6. Bitwise submitted stablecoin and tokenized ETF application documents to the U.S. SEC.

7. JuCoin platform coin JU plummeted in the early morning, and the platform responded by stating "affected by the overall market environment and external liquidity."

8. Keyrock acquires Turing Capital for $27.8 million, expanding its digital asset management business.

9. Boya Interactive invested approximately 219 million HKD this week to purchase a total of about 245 Bitcoins.

10. Research: The median salary of Ethereum core developers is about $140,000, and they can double their salary after switching jobs.

X KOL Selected Insights

Phyrex Ni (@Phyrex_Ni): "There has been no new developments today. Not only are we waiting for the Federal Reserve's rate cut, but Trump is also waiting. Even during this waiting process, he hasn't forgotten to criticize Powell a bit. All the bets for the third quarter will be revealed early Thursday morning. After that, we can discuss other matters. Currently, based on various news, the probability of a 25 basis points rate cut is the highest. Nick has also considered this, so there’s almost no need to post about other possibilities. The focus is on the dot plot, especially the dot plots for 2025 and 2026, which can reveal whether Trump has the upper hand in this game or if Powell can maintain the independence of the Federal Reserve. But if a black swan event does occur, I can accept that too."

Looking at Bitcoin's data, today's turnover has actually decreased, and investors have not shown signs of panic before the speculation. It should be that there is no doubt about the interest rate cut in September, and the market generally hears voices that a 50 basis point cut can cause the risk market to FOMO a bit. After all, from the trend in the U.S., both the Nasdaq and the S&P 500 broke historical highs during the session today. Guessing the outcome now is actually not very meaningful. As I said yesterday, what our friends should be considering more is how to operate if the expected interest rate cut decision occurs, how to operate if it exceeds expectations, and how to handle it if a black swan really appears. This is more useful than guessing the extent of the interest rate cut and the dot plot.