Headlines
JPMorgan estimates Trump's chances of winning the U.S. election at 60% to 70%.
JPMorgan estimates Trump's chances of winning the U.S. election at 60% to 70%, predicting that if the Republican Party achieves a 'Red Sweep,' the dollar will rise 5%; if the U.S. Congress is divided, the dollar will rise 1.5% to 2%.
Andre Cronje: Coinbase has repeatedly requested listing fees and is willing to disclose all evidence for public verification.
Sonic Labs co-founder Andre Cronje addressed the recent controversy over 'listing fees' at exchanges, stating: "Binance did not charge us a listing fee, but Coinbase has repeatedly asked for fees and quoted $300 million, $50 million, $30 million, with the latest quote being $60 million."
In response, some Coinbase supporters suggested that Andre may have contacted a fake Coinbase listing worker and questioned Sonic Labs' due diligence.
Andre responded again: "I have not signed a confidentiality agreement, so I am very willing to provide relevant evidence (the requests came from multiple employees/departments at Coinbase over the years through email, Telegram, and Slack). Now it can be confirmed that Coinbase can argue that this is not a listing fee but other fees, but this will still translate into the project's listing costs. I know Coinbase might legally make some cuts, but I'm happy to disclose all evidence and let the public verify."
Fed watchers expect Powell to reach consensus on a modest rate cut.
Investors are expecting Federal Reserve Chair Powell to lower interest rates by 25 basis points this week to keep the rate-cutting plan on track, despite some stubborn inflation signs and mixed signals regarding the job market. JPMorgan chief economist Michael Feroli stated in a report: "This week's FOMC meeting is a refreshingly simple decision, and the reasons for cutting rates remain valid." Fed watchers expect Powell to reach consensus on a modest rate cut following substantial cuts in September.
Industry News
Chainalysis: Driven by institutional and DeFi activities, the cryptocurrency adoption rate in Eastern Europe is rising.
According to a Chainalysis report, despite facing wars and regulatory issues, the adoption rate of cryptocurrencies across Eastern Europe has been steadily increasing, driven by institutional and DeFi activities.
As the world's fourth-largest cryptocurrency market, Eastern Europe had an on-chain value of $49.914 billion from July 2023 to June 2024, accounting for 11% of the global cryptocurrency total share.
Chainalysis further points out that CEX is the region that receives the most cryptocurrencies, "close to $324 billion, with DeFi activities significantly growing over the past year, and the value of cryptocurrencies at $165.46 billion, accounting for one-third of the region's inflow."
The report also mentioned that in this year's global cryptocurrency adoption index, regional participants Ukraine and Russia ranked "6th and 7th respectively, with Russia rising 6 places from last year."
The ETF Store president: Ethereum ETF staking will eventually happen, and Trump's election will accelerate the process.
The ETF Store president Nate Geraci posted on X: "In my opinion, staking for Ethereum ETFs will happen anyway... Under Trump's leadership, this will happen faster, along with in-kind creation/redemption and options trading."
Taiwan's 'Financial Supervisory Commission' will strengthen the review of exchanges' listing in new regulations to be introduced next January.
The financial regulatory authority of Taiwan, China, the Financial Supervisory Commission, will introduce new standards covering the listing of crypto assets and record-keeping, which is part of the 'registration regulations' to be issued in January 2025.
Circle co-founder: intends to establish business in Hong Kong, will consider applying for a license after understanding new stablecoin regulations.
The Hong Kong government aims to submit a stablecoin issuer system to the Legislative Council for review by the end of the year, with major international stablecoin issuers expressing interest. Jeremy Allaire, co-founder and CEO of Circle, the issuer of the world's second-largest stablecoin USDC, stated that Hong Kong is an important market for USDC and intends to hire more employees and establish a business in Hong Kong, waiting for the new stablecoin regulations to be released before considering applying for a license.
U.S. Elections
Harris and Trump have similar support rates in key 'swing states.'
According to a joint poll by The Hill and Emerson College, U.S. Vice President and Democratic presidential candidate Harris and former U.S. President and Republican presidential candidate Trump have similar overall support rates in key 'swing states' for the U.S. election. Trump leads in North Carolina, Pennsylvania, Arizona, and Georgia, while Harris has an advantage in Michigan, and the two are tied in Nevada and Wisconsin.
MicroStrategy founder Michael Saylor: vote for Bitcoin.
On the day before the U.S. presidential election, MicroStrategy founder Michael Saylor posted on X: vote for Bitcoin.
The wife of JPMorgan Chase CEO campaigned for Harris.
Well-known political donor Judy Dimon, wife of JPMorgan (JPM.N) CEO Jamie Dimon, campaigned in Michigan over the weekend, urging voters to support Kamala Harris for president.
Jamie Dimon himself has refused to publicly support any candidate and has promised to work with whoever is elected. Earlier this year, Trump posted a picture on his social media claiming to have Jamie Dimon's support, but JPMorgan quickly denied it.
U.S. media: The cost of the 2024 U.S. election has reached $14.7 billion, possibly the most expensive in history.
"The political system in the United States runs on money—lots of it." According to a Bloomberg report on November 1, 11,000 political groups spent $14.7 billion on the 2024 U.S. election campaign.
Analysis: Bitcoin will fluctuate 'up and down' by at least 10% based on the U.S. election results.
Anonymous trader Daan Crypto Trades posted on X: Bitcoin's price may fluctuate at least 10%, depending on which U.S. presidential candidate wins the election on November 5.
Project News
Grayscale: plans to apply to upgrade the Grayscale Digital Large Cap Fund to an exchange-traded product.
According to official news, Grayscale announced plans to apply to upgrade the Grayscale Digital Large Cap Fund (GDLC) to an exchange-traded product (ETP). The Grayscale Digital Large Cap Fund is publicly traded and holds Bitcoin, Ether, SOL, XRP, and AVAX.
It is reported that the NYSE Arca submitted a 19b-4 form proposing to list and trade Grayscale Digital Large Cap Fund shares as an exchange-traded product (ETP). This form has been published in the Federal Register, officially starting the review process, which may take up to 240 days.
As of November 1, 2024, the GDLC managed assets exceed $530 million, with the digital asset proportions as follows:
Bitcoin: 76.53%
Ethereum: 16.92%
Solana: 4.36%
XRP: 1.63%
AVAX: 0.56%
Uniswap's in-app cross-chain bridge launched, with trading volume exceeding $13 million in 10 days.
Uniswap Labs posted on X, stating that over the past 10 days, its bridge trading volume has exceeded $13 million.
People*Voices
CZ responds to the 'listing fee' controversy: the industry should reduce such attacks, Bitcoin has never paid any listing fees.
CZ responded on X to Sun Yuchen: "Thank you for the support, this is recognition from someone operating two competing exchanges. We should work to reduce such 'quote attacks' in the industry. Bitcoin has never paid any listing fees. Focus on the project, not the exchange."
Su Zhu: VC coins do not accumulate value, therefore they are also Memes.
Su Zhu posted on X: "People are starting to realize that cryptocurrencies will generate infinite assets in the market cap range of $50,000 to $500 million, while there are very few assets in the range of $500 million to $50 billion."
The only total coordination point is BTC, while Meme coins exhibit endless diversity and subcultures.
VC coins do not accumulate value, so they are also Memes.
Jupiter founder: has never sold a single JUP, major news coming soon.
Jupiter founder meow posted on X, stating that he has never sold a single JUP, and the team could easily have quietly transferred out a large number of tokens, but has never done so and has instead conducted a fully transparent audit.
meow also mentioned that he will be fully committed to JUP for a long time and hinted at major news to come.
