1. Expectations for a Fed rate cut are rising. According to CME's "Fed Watch" data, the probability of a 25 basis point rate cut in November is 50.1%, and the probability of a 50 basis point rate cut is 49.9%.

2. Mango Markets agreed to destroy MNGO tokens in a settlement with the SEC, which accused MNGO tokens of being unregistered securities.

The U.S. Securities and Exchange Commission (SEC) has reached a settlement with Mango DAO, Mango Labs LLC, and Blockworks Foundation, alleging that MNGO tokens were unregistered securities and that the latter provided unregistered brokerage services.

3. The Kingdom of Bhutan produces about 55 to 75 BTC per week through Bitcoin mining and currently holds 13,119 BTC.

The Kingdom of Bhutan is actively mining Bitcoin. According to relevant data, the Kingdom of Bhutan produces about 55 to 75 Bitcoins per week, worth about $3.6 million to $4.9 million. Currently, the Kingdom of Bhutan holds 13,119 BTC (worth about $860.4 million).

4. Donald Trump said Elon Musk will save trillions of dollars by leading the government's cost-cutting efforts.

5. Swan Bitcoin claimed that its former employees "stole" its mining business under the instructions of Tether and has filed a lawsuit.

Swan Bitcoin has filed a lawsuit against a group of former employees and consultants, alleging they “planned and executed a ‘rain and hellfire’ scheme” with the help of Swan Bitcoin’s one-time ally and fundraising partner Tether to “steal” its lucrative bitcoin mining business.

6. Senator Lummis said that Republican control of the Senate will be beneficial to digital assets, and believed that Republican Senator Tim Scott, who is friendly to cryptocurrencies, will serve as chairman of the Senate Banking Committee.

Republican Senator Cynthia Lummis told CNBC on Friday morning that the U.S. Senate’s switch from Democratic to Republican control in the upcoming election is a good sign for digital assets. Lummis noted that crypto-friendly Republican Senator Tim Scott will chair the Senate Banking Committee, which is currently chaired by Democratic Senator Sherrod Brown, who is not very friendly to the cryptocurrency industry.

7. The U.S. government seized more than $6 million in cryptocurrencies from overseas criminals, and the funds were suspected to come from a cryptocurrency trust investment scam.

According to an announcement by the U.S. Department of Justice, the U.S. government has seized more than $6 million in cryptocurrencies from overseas criminals. These funds are suspected to come from a cryptocurrency trust investment scam. The perpetrators of the scam lured American citizens to transfer cryptocurrencies through fake investment platforms, and eventually transferred the funds to wallet addresses controlled by criminals. The FBI tracked the victims' funds through blockchain and found multiple wallet addresses that still held the victims' funds. The case is being investigated by the U.S. Attorney's Office for the District of Columbia and the FBI Knoxville Branch. Chad Yarbrough, Assistant Director of the FBI Criminal Investigation Division, issued a statement on the cryptocurrency seizure case. Yarbrough said that such scams are destroying the lives of countless Americans every day, and many victims even mortgage their properties for multiple loans while looking for the "next big investment opportunity," resulting in heavy losses.   -Original text

8. Cantor Fitzgerald CEO said that Bitcoin should be regarded as gold and oil.

According to Bitcoin Magazine, the CEO of Cantor Fitzgerald, a financial services company that manages $13.2 billion in assets, expressed his views on Bitcoin in an interview. He said, "Bitcoin should be treated like gold and oil. When you really understand Bitcoin, it's hard to look at it any other way." - Original text

9. dYdX will shut down version v3 next month and plans to launch the dYdX Unlimited version.

The decentralized derivatives trading platform dYdX announced that it will shut down its v3 version at 20:05 (Beijing time) on October 28, 2024. From now until the closure date, the v3 exchange will operate normally, but users should close their positions and withdraw USDC as soon as possible. After October 30, users can withdraw the entire USDC value of their account from the Ethereum smart contract, including open positions. dYdX emphasizes that the security of user funds is not affected and can be withdrawn from smart contracts indefinitely. This closure only affects v3 users, and dYdX Chain (v4) and others are not affected. At the same time, dYdX stated that it will focus resources on developing the Unlimited version, which is scheduled to be launched this fall.   -Original text

10. Coinbase reports that Ethereum transaction fees have surged due to increased blockchain activity.

Ethereum transaction fees have surged over the past week as on-chain activity across the blockchain has increased significantly. Meanwhile, Kraken analysts report that Ether has broken above a descending relative strength index (RSI) trendline from March’s multi-year highs above $4,000, signaling a possible bullish shift in momentum.

11. The U.S. Securities and Exchange Commission approved spot Bitcoin ETF options, and analysts said this may affect demand for the underlying assets.

Analysts say the SEC's approval of spot Bitcoin ETF options marks a major shift in the way institutional investors participate in Bitcoin, which could have an impact on demand for the underlying asset. Last Friday, the SEC approved BlackRock's proposal to list and trade spot Bitcoin ETF options.

12. Grayscale transferred 13,588 ETH to the Coinbase Prime address.

About 2 minutes ago, Grayscale transferred 13,588 ETH to Coinbase Prime address - original text

13. Hong Kong will align crypto over-the-counter derivatives rules with European standards, with plans to implement new reporting requirements in 2025.

On September 26, the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) shared a plan to bring their OTC reporting requirements to global standards after studying responses to a March 2024 consultation paper. They intend to adopt the reporting requirements set by the European Securities and Markets Authority (ESMA) for crypto over-the-counter (OTC) derivatives. Hong Kong stakeholders and investors said that crypto OTC derivatives investments cannot be classified into the existing traditional five asset classes - interest rates, foreign exchange, credit, commodities and stocks. Some Hong Kong stakeholders suggested the use of digital token identifiers (DTIs) "to clearly identify the underlying crypto assets in OTC derivatives." In response, the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) pointed out that the European Securities and Markets Authority (ESMA) has included DTI in the reporting system in October 2023. At present, DTI has become a core reference point for European crypto asset service providers. Referring to the need for a unique product identifier (UPI) in transaction reports, the Hong Kong regulator revealed plans to implement similar requirements in its jurisdiction in the near future: “Given that digital token identifiers are included as allowed values ​​in the data field ‘Base ID (Other)’ in the forthcoming CDE Technical Guidelines Version 4 consultation, we will adapt the use of DTI in our reporting requirements.” However, the authorities will continue to monitor the outcome of orders issued in other jurisdictions and adopt similar regimes if necessary. The Hong Kong authorities propose to implement the new reporting requirements by September 29, 2025.   - Original text

The above is a selection of hot topics in the past 24 hours. For faster news, please download AICoin (aicoin.com)