1. The Fed's shift has finally arrived. Chairman Powell announced that the federal funds target rate would be cut by 50 basis points to 5.00%, which exceeded market expectations and brought surprise to the market.
2. Trump's visit to a Bitcoin bar in New York is seen as an effort to repair his credibility in the cryptocurrency community.
Bitcoin users are not generally a forgiving bunch — especially toward those who are seen as apostates and imitators of other cryptocurrencies. That’s why Republican presidential candidate Donald Trump’s visit to a beloved New York Bitcoin bar last week seemed perfectly timed — an effort to repair lost credibility after he and his family began promoting a decentralized finance project that seemed to have roots in other blockchain ecosystems.
3. A whale purchased 2,448 BTC in the past two days, worth approximately $154.6 million, showing the confidence of large funds in Bitcoin.
A whale bought 953 BTC 1 hour ago, worth about $60.57 million; the whale has bought 2,448 BTC in the past two days, worth about $154.6 million.
4. Greeks.live researchers said that the quarterly settlement is coming this Friday, and the whales are planning for Q4, so trading will be very active before and after the election.
Adam, a researcher at Greeks.live, posted on social media that the quarterly delivery is coming this Friday, and the IV of each major term has dropped significantly. Currently, BTC option positions account for 33% of the total positions this quarter, and ETH option positions account for 38% of the total positions this quarter, which is a relatively small quarterly delivery. Recently, a large number of large put option transactions have occurred, and there is a high probability that they are shifting positions. The next quarter covers the US election, and there is currently a lot of uncertainty, but the overall implied volatility level is low. In the past year, it has been below the current level for less than 30% of the time. The whales are planning for the next quarter, and trading is very active, especially before and after the election. -Original text
5. Meta released a new virtual reality headset. Zuckerberg tried to combine social networks with technology to further enter the metaverse.
Meta unveiled a slew of new products at an event at its Menlo Park, California, headquarters on Wednesday, including an updated, low-cost Quest 3S virtual reality headset and a host of enhancements to its artificial intelligence assistant, Meta AI. The updates will bring a range of celebrity voices to the company's AI assistant -- including Awkwafina, John Cena and Dame Judi Dench -- that will respond to users' questions. The assistant is integrated into most of Meta's mainstream apps, including Instagram, WhatsApp, Messenger and Facebook. The new products are Zuckerberg's attempt to marry his vision for the social network with what's possible with today's technology. While Meta has had some success selling virtual reality headsets and its Ray-Ban augmented reality glasses have been a surprise hit, Zuckerberg's vision of the metaverse is still years away. Meta has invested nearly $50 billion in its Reality Labs division, the part of the company that does hardware, over the past few years. The division won't be profitable anytime soon. Plus, Meta's expansion into artificial intelligence and data centers is becoming increasingly expensive. -Original
6. Macquarie rated several Bitcoin mining stocks as "outperforming the market", believing that the value of their infrastructure exceeds the expected appreciation of Bitcoin.
Macquarie has "outperform" ratings on MARA, Riot Platforms, Core Scientific, CleanSpark and Cipher Mining stocks. They said the concentration of commodity resources such as power infrastructure, computing and bandwidth "represents real value beyond Bitcoin's expected appreciation."
7. SEC Chairman Gary Gensler released testimony that fines and recoveries in fiscal year 2023 will reach $4.9 billion.
Gary Gensler of the U.S. Securities and Exchange Commission (SEC) released the full text of his testimony before the U.S. House Financial Services Committee, which disclosed that the work of the enforcement department is at the core of the SEC's investor protection responsibilities. In fiscal year 2023, the SEC took 784 enforcement actions, with fines and disgorgements reaching $4.9 billion. Where feasible, the civil penalties and disgorgements obtained by the SEC in civil enforcement actions will be returned to the harmed investors, and $930 million was allocated to harmed investors in fiscal year 2023.
8. ZachXBT said that Truflation, supported by Coinbase Ventures, was hacked and lost about 5 million US dollars.
Blockchain sleuth ZachXBT said Truflation was hacked and about $5 million was stolen from “treasury multisig and personal wallets.” Truflation said it both detected “unusual activity” and suffered a malware attack.
9. U.S. stocks closed mixed, with the Nasdaq up 0.04%, the Dow down 0.7%, and the S&P 500 down 0.18%.
At the close of U.S. stocks, the Dow fell 0.7%, the Nasdaq rose 0.04%, and the S&P 500 fell 0.18%. -Original text
10. Deribit CEO said the expiration of Bitcoin options at the end of Friday could trigger significant market volatility.
Deribit CEO Luuk Strijers said the expiry of Bitcoin options at the end of Friday could significantly impact market volatility. Major cryptocurrencies such as Bitcoin and Ethereum have traded flat over the past 24 hours. -Original text
11. OpenAI removes control of its non-profit board and hands over equity to Sam Altman.
12. Starknet announced that the first phase of staking has begun and will be completed this year, moving towards decentralization.
Starknet posted on the X platform that Starknet has always attached great importance to decentralization. Although it will take some time for Starknet to transition to a fully decentralized PoS network, the first phase of staking has begun and will be completed this year. Community governance of STRK staking parameters: Phase 1 testnet (Q4 2024) Phase 1 mainnet - original text
13. The US SEC has postponed its decision on BlackRock and Bitwise spot Ethereum ETF options to November 10.
The U.S. Securities and Exchange Commission has delayed a decision on Nasdaq’s proposed rule changes to approve BlackRock and Bitwise’s spot Ethereum ETF for listing and trading options. The decision, originally scheduled for Thursday, has been postponed to November 10. The SEC approved the listing and trading of BlackRock’s iShares Bitcoin Trust (IBIT) options last week.
The above is a selection of hot topics in the past 24 hours. For faster news, please download AICoin (aicoin.com)
