The Federal Reserve updates the four rotating voting committee members in 2025, and the "hawkish" tilt may lead to more divisions

According to the Fed's official website, in 2025, the Fed will welcome two "hawkish" voting members, one "dovish" voting member and one neutral voting member.

The Federal Reserve will update its four rotating voting committee members in 2025, and the "hawkish" tilt may lead to more divisions.

According to the Fed's official website, in 2025, the Fed will welcome two "hawkish" voting members, one "dovish" voting member and one neutral voting member. Chicago Fed President Austan D. Goolsbee, Boston Fed President Susan M. Collins, St. Louis Fed President Alberto G. Musalem, and Kansas City Fed President Jeffrey R. Schmid will become new rotating voting members to replace the four rotating voting members in 2024: Richmond Fed President Thomas I. Barkin, Atlanta Fed President Raphael W. Bostic, San Francisco Fed President Mary C. Daly, and Cleveland Fed President Beth M. Hammack.

Bloomberg analysis believes that in 2025, the positions of the Federal Open Market Committee (FOMC) voting members will be more dispersed, and the neutrality will decrease, which may lead to more differences. Barron's believes that the rotating voting committee may make the Fed's decision-making in 2025 lean toward the "hawks". Reuters analysis believes that over time, Fed policymakers may find their differences again, especially when the labor market cools faster than inflation. The increase in hawkish voting members in the Federal Open Market Committee may increase the risk of disagreement, although this may not change the policy outcome.

The Fed's official website shows that the Fed will hold a total of 8 meetings in 2025, in January, March, May, June, July, September, October and December.

The dot plot released by the Federal Reserve in December 2024 shows that the Federal Reserve has lowered the number of future interest rate cuts, reducing the number of interest rate cuts in 2025 from 4 predicted in September to 2, and the median forecast for the interest rate has been raised from 3.4% in September to 3.9%.Aave governance proposal to link Ethena’s USDe to USDT sparks community concerns

According to Protos, the Aave governance forum recently proposed a proposal to link USDe to Tether's USDT at a 1:1 ratio, a suggestion that has raised concerns about potential conflicts of interest, especially given the difference in decoupling risks between the two.

The proposal, which is currently in the consultation stage, aims to replace the existing Chainlink USDe/USD oracle by hard-coding the USDe price to match the USDT price in the Aave pricing feed to ensure seamless integration and reduce disruptions caused by USDe price fluctuations. However, the two co-authors of the proposal are from ChaosLabs and LlamaRisk, risk management companies associated with Ethena, which has raised questions about conflicts of interest from MakerDAO community member "ImperiumPaper", who likened it to a real estate agent representing both buyers and sellers.

In addition, Tether is (ostensibly) fully backed by off-chain assets, ensuring that USDT can be exchanged for dollars at a 1:1 ratio off-chain. In contrast, USDe is supported by a Delta neutral balance of long and short positions and faces the risk of "continuous negative funding rates", which could happen if market sentiment turns bearish. One user likened the move to an “aggressive growth proposal,” while another criticized the circular logic of acknowledging different risks and then treating assets as having the same value instead of taking appropriate action.

In response, Ethena founder Guy Young denied any conflict of interest and highlighted the project’s risk committee, which is designed to “provide external discipline and accountability for the ongoing management of the product.”Interactive Brokers is taking action to significantly reduce its exposure to MSTR

According to Bitcoin News, Interactive Brokers is tightening its exposure to MicroStrategy (ticker: MSTR) by gradually increasing margin requirements to a minimum of 50% on January 13, 2025. This is a clear sign that they are preparing for the upcoming large fluctuations.Vitalik: Many crypto technologies can be used in the subject area of d/acc

Ethereum co-founder Vitalik Buterin shared his latest views on d/acc (decentralized acceleration) in his latest blog post, pointing out that there is actually an important connection between d/acc and cryptocurrency.

d/acc extends the underlying values of cryptocurrency, such as decentralization, censorship resistance, and open economic and social concepts, to other technical fields. As early adopters, cryptocurrency users' communities naturally become testing grounds for d/acc technology. The community attaches great importance to practice rather than empty talk, making the cryptocurrency community an ideal incubator for d/acc technology, especially in group-oriented fields such as information and biodefense. Cryptocurrency practitioners are good at working together.

In addition, cryptocurrency technologies such as blockchain and zero-knowledge proofs can be applied to the construction of d/acc's financial,