Headlines

U.S. Core PCE Price Index Month-on-Month for September Was 0.3%, Expected 0.3%, Previous Value Revised to 0.2%

U.S. Core PCE Price Index in September Rose 0.3% Month-on-Month, Expected 0.3%, Previous Value Revised from 0.1% to 0.2%. (Golden Ten)

For the Week Ending October 26, Initial Jobless Claims in the U.S. Were 216,000, Expected 230,000, Previous Value Revised to 228,000

For the Week Ending October 26, Initial Jobless Claims in the U.S. Were 216,000, Expected 230,000, Previous Value Revised from 227,000 to 228,000. The Four-Week Average of Initial Jobless Claims Was 236,500, Previous Value Revised from 238,500 to 238,750. Continuing Claims for the Week Ending October 26 Were 1.862 Million, Expected 1.885 Million, Previous Value Revised from 1.897 Million to 1.888 Million. (Golden Ten)

Tether Q3 Financial Report: Net Profit $2.5 Billion, U.S. Treasury Holdings Reach $105 Billion, Stablecoin Circulation Reaches $120 Billion

Tether's Latest Q3 Financial Report States That in the Third Quarter of 2024, the Group's Net Profit Was $2.5 Billion, Full-Year Profit $7.7 Billion, Group Equity Reached $14.2 Billion, and Total Consolidated Assets Were $134.4 Billion—All at Historical Highs. Meanwhile, Tether's Circulating Stablecoin Volume Reached Nearly $120 Billion, With Reserves Now Holding Over $105 Billion in Cash and Cash Equivalents, Including Direct and Indirect Exposure to U.S. Treasury Bonds of Up to $102.5 Billion, Making Tether One of the Top 18 Holders of U.S. Treasury Bonds Globally.

Industry News

U.S. Core PCE Year-on-Year for September Remains Unchanged, Dollar Index DXY Rose by 16 Points Currently Reported at 104

U.S. Core PCE Price Index Year-on-Year for September Recorded at 2.7%, Unchanged from Last Month, U.S. Core PCE Price Index Month-on-Month Rose 0.3%, Rebounding from Last Month (0.2%). The Dollar Index DXY Rose by 16 Points, Currently Reported at 104.00. (Golden Ten)

U.S. PCE Inflation Indicator Accelerates, Fed May Take Cautious Rate Cut Approach

The Federal Reserve's Preferred PCE Inflation Indicator Saw Its Largest Monthly Increase Since April, Supporting the Fed's Slower Rate Cut Pace Following Last Month's Significant Rate Cut. The U.S. Core PCE Price Index Rose 0.3% Month-on-Month in September, with the Year-on-Year Rate at 2.1%, the Lowest Level Since Early 2021, Slightly Above the Fed's 2% Target. Adjusted for Inflation, Consumer Spending Grew 0.4% Supported by a 0.1% Growth in Real Income. The Savings Rate Fell to 4.6%. Tonight's Data Marks a Surprising Upside to Major Economic Reports This Month, Possibly Signaling a Cautious Fed Approach to Rate Cuts in the Coming Months. The Market Generally Expects the Fed to Implement a Second Rate Cut in November, Following the First Rate Cut in September. (Golden Ten)

The Probability of a 25 Basis Point Rate Cut by the Federal Reserve in November is 96.1%, Unchanged from Before PCE Data Release

According to CME 'FedWatch', the Probability of the Federal Reserve Cutting by 25 Basis Points in November is 96.1%, with a 3.9% Probability of Keeping Current Rates Unchanged. The Probability of Keeping Current Rates Unchanged in December is 1.1%, with a Cumulative Probability of 25 Basis Points Cut at 29.2% and 50 Basis Points at 69.7%. No Changes Compared to Before PCE Data Release.

U.S. Treasury Proposes Replacing Privately Issued Stablecoins with CBDC

According to a Report Released by the U.S. Treasury on Wednesday, It Expressed Concerns About the Growth of the Stablecoin Market and Believes that Privately Issued Stablecoins Should Ultimately Be Replaced by State-Supported CBDCs.

Russia to Lift Bitcoin Mining Ban, This Move May Encourage Other Countries to Mine Bitcoin

Hashlabs Mining Founder Alen Makhmetov States that Russia Will Lift the Bitcoin Mining Ban on November 1, But Not Without Restrictions, Requiring All Bitcoin Miners to Register with the Russian Federal Tax Service and Submit a List of Machine Models and Wallet Addresses.

Poll: Harris Leads Trump by a Slim Margin of 1%

According to a Recent Poll Reported by Forbes, U.S. Vice President and Democratic Presidential Candidate Harris Leads Former President and Republican Candidate Trump by a Slim Margin of 1%, But 10% of Voters May Change Their Minds Before the Election.

Project News

Magic Eden's Test Token testME Airdrop Claims Have Closed, Unclaimed Tokens Will Be Destroyed

Magic Eden's Airdrop Token testME Claims Ended at 8:00 AM Beijing Time, Unclaimed Tokens Will Be Destroyed. Market Shows testME Currently Valued at $0.01425, with a 24-hour Increase of 19.62%.

Riot Platforms Reports a Net Loss of $154 Million in Q3, Total Revenue of $84.8 Million

Riot Platforms Reports Significant Losses in Q3 Due to Rising Costs and Unrealized Investment Losses, as It Lowers Its Hashrate Targets for 2024 and Beyond. Riot Produced 1,104 BTC This Quarter, Basically Unchanged from Last Year’s 1,106 BTC. The Company’s Production Dropped 52% Year-on-Year Last Quarter.

pump.fun Accumulated Earnings Exceed $160 Million

Dune Data Shows pump.fun Accumulated Earnings Exceed $160 Million, Total Address Count Exceeds 2.4 Million, Total Number of Tokens Deployed Exceeds 2.8 Million.

MicroStrategy Announces Financing Plan Named '21/21 Plan'

MicroStrategy Announces $42 Billion Bitcoin Investment Plan, Company Reveals Plans to Raise $42 Billion in New Capital Over the Next Three Years to Purchase Bitcoin. As of September 30, 2024, MicroStrategy Holds 252,220 Bitcoins, According to Coingecko Data, the Company Currently is the Largest Publicly Traded Holder of Bitcoin.

Coinbase Derivatives to Launch Silver (SLR) and Stellar (XLM) Futures

According to official news, Coinbase Derivatives has announced the launch of Silver (SLR) and Stellar (XLM) futures, further expanding its derivatives product line regulated by the Commodity Futures Trading Commission (CFTC). The launched Silver and Stellar futures are based on 50 ounces of silver and 5000 Stellar respectively, aiming to provide more convenient market access opportunities for traders at all levels, while meeting the needs for price discovery and risk management. As of now, its CFTC-regulated product portfolio includes BTC, ETH, BCH, LTC, DOGE, SHIB, AVAX, DOT, LINK, gold, and oil.

Trump Family Crypto Project World Liberty Financial Cuts Fundraising Target by 90%

Trump Family Crypto Project World Liberty Financial Cuts Fundraising Target by 90%, the Revised Plan is to Sell Only $30 Million Worth of WLFI Tokens (Instead of the Initially Planned $300 Million), World Liberty Financial Plans to 'Terminate' WLFI Sales After Reaching $30 Million. Additionally, Public Documents Indicate that Trump’s DT Marks DEFI LLC Entity Will Only Receive 75% of the 'Net Agreement Income' (Including Token Sales) After World Liberty Financial Accumulates $30 Million in Funds for Operations. (Coindesk)

Immutable Receives Wells Notice from U.S. SEC, Accused of Violating Securities Laws

Ethereum Gaming Company Immutable Received a Wells Notice from the U.S. SEC, Accused of Violating Securities Laws. A Spokesperson for the U.S. SEC Stated That the Securities and Exchange Commission (SEC) Sent a Wells Notice to Immutable Last Month, Warning the Manufacturer of the Ethereum Gaming Platform That It May Soon Face Enforcement Action.

People * Voices

Kaiko: Staked ETH Market Cools, Supply Growth Has Stabilized

According to a recent report released by Kaiko, the Staked ETH Market is Cooling Down in 2024. Since August, the average waiting time for ETH validators has been less than a day, rarely exceeding four days this year—significantly shorter than the 45-day peak in June 2023. Compounding this situation is the decline in ETH staking rewards. Currently, ETH staking yields are lower than those offered by other major Layer 1 protocols (such as Cosmos, Polkadot, Celestia, and Solana), which offer rewards ranging from 7% to 21%.

U.S. Treasury: Growth of Stablecoins Increases Demand for Treasury Bonds, Estimated $120 Billion Stablecoin Collateral Invested in Treasury Bonds

The U.S. Treasury In a New Report Partially Reviewed the Impact of Digital Assets, Stating that 'The Growth of Stablecoins Has Led to a Slight Increase in Demand for Short-Term Treasury Bonds.' It Estimates That $120 Billion Worth of Stablecoin Collateral Has Been Invested in Treasury Bonds, the Majority (Nearly $81 Billion) Purchased by Tether.

CZ: Shareholder Rights Are Unaffected, But Even If Allowed to Return, I May Not Actually Go Back

CZ Stated During an Interview at the Main Venue of Binance Blockchain Week in Dubai that Binance Has Done Well During His Absence, and Even If He Were Allowed to Return, He May Not Actually Go Back. Currently, His Main Focus is on Investment, Not Wanting to Leave Any Projects Behind, and He No Longer Has the Energy Like Seven Years Ago. He Hopes to Help Other Entrepreneurs Raise Funds or Provide Advice; He Has Already Resigned as CEO and Should Not Be Involved in Day-to-Day Operations, But Shareholder Rights Are Unaffected, He Remains a Major Shareholder of Binance, Can Still Access Information, But Cannot Make Decisions or Give Orders.

He Yi: Thanking Chinese Users, Binance Makes Users Part of the Community

Binance co-founder He Yi expressed gratitude to the Chinese community users during the Binance Blockchain Week in Dubai, stating that Binance makes users not just users, but members of the community, turning business into something more than just business.

Musk: Trump and DOGE Will Solve the Issue of Illegal Immigration in the U.S.

Musk Posted on the X Platform: 'Our system is inverted, making it difficult for high-quality talent to legally enter the U.S. while criminals can easily enter illegally. Why is illegal entry easier than legal entry? Trump and DOGE will solve this problem.'

Investment and Financing

AI Startup Crusoe Energy to Raise $500 Million in Equity Financing, Post-Money Valuation Reaches $3 Billion

AI Infrastructure Company Crusoe Energy is Set to Raise Approximately $500 Million in Equity Financing, with Investors Including Billionaire Peter Thiel's Founders Fund, Post-Money Valuation Reaching $3 Billion, This Financing Will Be Used to Enhance Crusoe Energy's AI Infrastructure.

Alliance Games Completes $5 Million Series A Financing Led by Animoca Brands and Asymm Ventures

According to official news, Alliance Games has completed $5 million in Series A financing, led by Animoca Brands and Asymm Ventures, with participation from The Spartan Group, Dialectic, Kyros Ventures, Coin 98 Ventures, and investors Loi Luu (co-founder of Kyber Network) and Sebastien (co-founder of The Sandbox). With previous seed round financing, Alliance Games' total financing amount has reached $8 million.

Blockchain Solar Company Glow Completes $30 Million Financing, Led by Framework and Union Square Ventures

Blockchain Solar Company Glow Completes $30 Million Financing, Led by Framework and Union Square Ventures, Currently Operating a DePIN Network Composed of Solar Power Plants in the U.S. and India, Planning to Use This Capital to Expand from 5 MW to 600 MW Over the Next 18 Months and Expand to New Countries. (Fortune)

Verifiable Autonomous Agent Network Axal Completes $2.5 Million Pre-Seed Round Financing, Led by CMT Digital

Verifiable Autonomous Agent Network Axal Announces Completion of $2.5 Million Pre-Seed Round Financing, Led by CMT Digital, with Participation from a16z Crypto Startup School, Escape Velocity, IDG Vietnam, Artichoke Capital, Trident Digital, Blockchain Builders Fund, Blockhunters Group, Echo, and Mentat Group, as well as Angel Investors Rushi Manche, Darius Rugys, and Comfy Capital.

Spire Labs Completes $7 Million Seed Round Financing, Co-led by Maven 11 Capital and Anagram

Ethereum Scaling Infrastructure Startup Spire Labs Completes $7 Million Seed Round Financing, Co-led by Maven 11 Capital and Anagram, with Participation from a16z Crypto Startup Accelerator, Digital Currency Group, Bankless Ventures, Volt Capital, Finality Capital.

Bitcoin Rollup Project Citrea Completes $14 Million Series A Financing, Led by Founders Fund

Bitcoin Rollup Project Citrea Announces Completion of $14 Million Series A Financing Led by Peter Thiel's Founders Fund, with Participation from Angel Investors Erik Voorhees and Balaji Srinivasan.

Web3 Game Studio 81 Ravens Completes $4.5 Million Financing, Led by Gree Ventures and Digital Hearts Holdings.

Web3 Game Studio 81 Ravens Completes $4.5 Million Financing, Led by Gree Ventures and Digital Hearts Holdings.

Ellipsis Labs Completes $20 Million New Round of Financing, with Participation from Haun Ventures

Ellipsis Labs Announces Completion of $20 Million New Round of Financing, with Participation from Haun Ventures, Aiming to Accelerate the Launch of the Layer 2 Blockchain Atlas Focused on Verifiable Finance. Haun Ventures States This Round of Financing is a 'Quick Follow-up' to Ellipsis Labs' $20 Million Series A Financing Completed in April. (Coindesk)

VanEck Announces Investment in Off the Grid's Development Team Gunzilla Games

Matt from VanEck's Investment Department Disclosed on X the Agency's Second Investment in the Gaming Field, Investing in Off the Grid's Development Team Gunzilla Games. Previously, Off the Grid Had Topped the Free Game Rankings on the Epic Games Store. According to Earlier News, VanEck Had Made Two Long-Term Investments in the Web3 Gaming Field, One in AI Chain Game Parallel, the Other Yet to Be Announced.