According to CoinMeta, the United States confirmed that it had used approximately $500 million equivalent to euros to intervene in the foreign exchange market in order to support the Japanese yen. A quarterly foreign exchange intervention report released by the Federal Reserve of New York indicated that on July 31, the U.S. Treasury Department and Japan collaborated to intervene in the market, purchasing 79.4 billion yen and selling euros from the 'Exchange Rate Stabilization Fund' as a result. This action was aimed at addressing the disorderly fluctuations in the yen exchange rate. The report reiterated that the Federal Reserve did not participate in this intervention. According to data from Japan's Ministry of Finance, as of August 26, Japan had invested a record amount of $97.5 billion in these intervention efforts.