Headlines
▌4E: The situation in the Middle East escalates, and US stocks and cryptocurrencies fall collectively
On October 2, Iran launched a missile attack on Israel on Tuesday, which further escalated tensions in the Middle East and triggered cautious sentiment in global markets. U.S. stocks and crypto markets fell. The three major U.S. stock indexes closed down collectively, with the Dow Jones Industrial Average down 0.41%, the S&P 500 down 0.93%, and the Nasdaq down 1.53%. Technology stocks became the worst performing sector; the crypto market fell sharply, Bitcoin almost fell below $60,000, and is now quoted at $61,523, with a 24-hour drop of 2.75%. Ethereum fell 5.11%, and market sentiment returned to panic. Data shows that Bitcoin fell by about 4% in the first two days of October, in sharp contrast to the average increase of 20% in October throughout history; in terms of bulk, safe-haven asset gold was favored, and the December gold futures price on the New York Stock Exchange rose by 1.16%. Market concerns about crude oil supply intensified, and international crude oil prices once rose by more than 4%. The escalation of tensions in the Middle East has led to a rapid increase in market panic, risky assets have been sold off, and market volatility has increased. eeee.com is a financial trading platform that supports cryptocurrencies, stock indices, bulk gold, foreign exchange and other assets. It recently launched a USDT stablecoin financial product with an annualized yield of 5.5%, providing investors with a potential hedging option. 4E reminds you to pay attention to market volatility risks and allocate assets reasonably.
▌US President Biden: Some sanctions will be imposed on Iran
US President Biden: Some sanctions will be imposed on Iran.
Quotes
As of press time, according to Coingecko data:
BTC's latest transaction price is $61,018.64, with a daily change of -0.4%;
ETH's latest transaction price is $2,377.33, with a daily change of -3.7%;
BNB's latest transaction price is $545.49, with a daily change of -1.1%;
SOL's latest trading price is $149.02, with a daily change of -4.4%;
DOGE's latest transaction price is 0.1055 yuan, with a daily change of -2.2%;
XPR’s most recent trading price is $0.5294, with a daily change of -12.6%.
policy
▌British Finance Minister is promoting the issuance of digital gilt bonds based on blockchain
On October 2, British Finance Minister Tulip Siddiq is pushing the UK to start issuing "digital gilts" on the blockchain. However, a former minister and several department officials familiar with the discussions revealed that the Debt Management Office (DMO), the executive agency of the Ministry of Finance responsible for issuing and managing government bonds, opposed the move. Officials said Siddiq was determined to move forward to combat the risk of the UK being "left behind" by its global peers.
▌Bank of Russia: Issuance of digital ruble will not trigger inflation
The Bank of Russia recently explained that the Russian central bank’s digital ruble CBDC will not change the way the country manages monetary policy. The bank said in a draft outlining the central bank’s policy directions for 2025-2027 that the central bank will continue to use the same tools to target inflation even after the launch of the digital ruble.
Blockchain Applications
▌Several blockchain companies were hacked after hiring North Korean IT employees
North Korean IT workers have successfully infiltrated more than a dozen blockchain companies by forging identities. Many companies have been hacked after hiring North Korean IT employees, who successfully passed interviews and background checks using fake identities and even demonstrated real work experience. Affected companies include Injective, Fantom, Sushi, Yearn Finance, etc. Hiring North Korean employees not only violates the laws of many countries, but also poses cybersecurity risks. Many companies have been hacked after hiring North Korean IT personnel. According to a UN report, North Korean IT workers generate up to $600 million in revenue each year.
▌Worldcoin Foundation launches new ongoing grant program to streamline innovation support process
The Worldcoin Foundation announced a new funding program that simplifies the application process and supports global innovators to submit proposals at any time. The new program focuses on World ID applications, digital identity solutions, user growth plans, governance innovations, and developer tool improvements. This move aims to promote decentralized development, improve user experience, and promote the widespread application of Worldcoin technology.
▌Christie’s to provide blockchain ownership certificates for photography collections
Christie’s will provide blockchain-based digital certificates of ownership for each lot in its “Focus on Reality: Photographs from the Collection of Ambassador Trevor Trainor” auction at Rockefeller Center in New York. The 130-lot auction will be minted by Kresus on the Ethereum second-layer blockchain Base developed by Coinbase. Christie’s first dabbled in blockchain technology in 2021, when it auctioned off Beeple’s “Everyday” series for $69 million.
▌Arbitrum becomes the first Layer 2 on the Uniswap protocol to exceed $200 billion in transaction volume
Uniswap officially announced on the X platform that Arbitrum has just become the first Layer 2 network to have a swap transaction volume of more than $200 billion on the Uniswap protocol.
Cryptocurrency
BTC breaks through $61,000
The market shows that BTC has broken through $61,000 and is now trading at $61,027.49, with a 24-hour drop of 0.12%. The market is volatile, so please do a good job of risk control.
▌BNB Chain releases Q3 hackathon winners
BNB Chain announced that the 2024 Q3 Hackathon received a total of 186 outstanding entries. In the end, 10 outstanding projects advanced to the demonstration phase to compete for the top three places and a prize of US$50,000. The top 3 included: First place: distributed proof node network zkGraph (US$15,000); second place: BNB Greenfield ecosystem project Siren (US$10,000); third place: decentralized leasing project CryptoBed (US$5,000).
▌Japan will evaluate cryptocurrency regulations and is expected to create conditions for the launch of cryptocurrency ETFs
According to foreign media reports, Japan plans to evaluate the effectiveness of its cryptocurrency regulations. The review will be conducted in the next few months and may pave the way for the country to launch a cryptocurrency exchange-traded fund (ETF). An official from the Financial Services Agency (FSA) of Japan said that the review will measure whether the country's current approach to cryptocurrency regulation under the (Payment Services Act) (PSA) is sufficient. The PSA was originally enacted in 2009, and Japanese lawmakers have revised the PSA several times to respond to changes in the financial services landscape caused by the emergence of digital currencies. The bill recognizes Bitcoin (BTC) and other cryptocurrencies as legal property. It also requires cryptocurrency exchanges to register and comply with the country's anti-money laundering (AML) and counter-terrorism financing (CFT) obligations.
SEC director who led cryptocurrency crackdown to leave
Gurbir S. Grewal, director of the SEC's Division of Enforcement, will leave the office after 21 years in office. Deputy Director of the Division Sanjay Wadhwa will serve as interim acting director, and Chief Counsel Sam Waldon will serve as acting deputy director. Gurbir S. Grewal, who served as the director of enforcement under Gensler for three years, will officially step down on October 11. As the security regulator's top cop, Gurbir S. Grewal filed enforcement actions against several of the most prominent U.S. cryptocurrency companies, including Coinbase, Kraken, and Ripple Labs, as well as countless international entities such as Binance. During Gurbir S. Grewal's tenure, the agency approved more than 100 enforcement actions against cryptocurrency companies.
Important economic developments
▌The probability of the Federal Reserve cutting interest rates by 25BP in November is 62.8%
According to CME's "Fed Watch": The probability of the Fed cutting interest rates by 25 basis points by November is 62.8%, and the probability of cutting interest rates by 50 basis points is 37.2%. The probability of a cumulative rate cut of 50 basis points by December is 36.8%, and the probability of a cumulative rate cut of 75 basis points is 47.8%; the probability of a cumulative rate cut of 100 basis points is 15.7%.
▌JPMorgan Chase's latest research report: A-shares rebounded strongly due to a decline in short selling ratios, an increase in margin trading and investor excitement
JPMorgan Chase's latest September research report on A-shares shows that the Political Bureau meeting unexpectedly called for strong policies to stimulate the strong rebound of A-shares. This round of rebound has three major driving forces: a decline in the short selling ratio, an increase in margin trading, and investor excitement. Specifically, as of September 30, the short selling ratio in the Hong Kong market fell from 21.8% on September 16 to 10.2%; the proportion of margin trading in A-shares in total trading volume rose from 7.4% on September 20 to 10.5% on September 27. JPMorgan Chase believes that the excitement of retail investors and the surge in the number of new accounts are evidence that global funds may narrow their exposure to the Chinese stock market. JPMorgan Chase also predicted that from September 23 to 27, the net inflow of A-share ETF funds was 59.3 billion yuan (about 8.5 billion US dollars). JPMorgan Chase pointed out that the sustainability of the A-share rebound lies in the strength of fiscal policy, macro data and earnings revisions.
Golden Encyclopedia
What is the Algorithm of Thought (AoT)?
Algorithms of Thought (AoT) is a groundbreaking approach in the field of artificial intelligence (AI) that revolutionizes the way AI models think and reason. Developed by Microsoft Research, AoT introduces a new paradigm for large language models (LLMs) to enhance reasoning capabilities to solve complex problems. It aims to combine the best of both worlds: a nuanced, intuitive understanding of the human thought process with the structured, systematic nature of an algorithmic approach.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.
