Consensys plans to go public in the US; the Federal Reserve cuts interest rates again by 25 basis points.

Headline

▌Consensys Plans US IPO, Hires JPMorgan Chase and Goldman Sachs as Lead Underwriters

Consensys, the developer of the MetaMask wallet and an Ethereum infrastructure company, plans to go public in the United States and has hired JPMorgan Chase and Goldman Sachs as lead underwriters for its IPO.

▌Fed Cuts Rates by 25 Basis Points as Expected

The Federal Reserve lowered its benchmark interest rate by 25 basis points to 3.75%-4.00%, marking the second consecutive rate cut at its meeting and meeting market expectations. This is also the fifth rate cut since September 2024.

▌The European Central Bank plans to launch a digital euro in 2029

The European Central Bank plans to launch a digital euro in 2029, and preparations will continue.

▌The Hong Kong Monetary Authority cuts interest rates by 25 basis points

The Hong Kong Monetary Authority cut its benchmark interest rate by 25 basis points to 4.25%, following a 25 basis point rate cut by the Federal Reserve overnight.

**Blockchain Applications** **Mastercard Plans to Acquire Crypto Infrastructure Startup Zerohash for Up to $2 Billion** Mastercard is planning to acquire Chicago-based crypto and stablecoin infrastructure startup Zerohash for up to $2 billion. This acquisition will further extend Mastercard's crypto business into the stablecoin and tokenized infrastructure sectors. **WSJ: OpenAI Could IPO as Early as 2027** According to the Wall Street Journal, OpenAI could IPO as early as 2027, becoming one of the largest initial public offerings (IPOs) in history. Previously, OpenAI announced on Tuesday that it had completed a capital restructuring, establishing its structure as a non-profit entity controlling its for-profit business, paving the way for a public listing. Its non-profit organization has been renamed the OpenAI Foundation and holds approximately $130 billion in equity in its for-profit division. OpenAI CEO Sam Altman stated, "Given the company's future capital needs, an IPO is the most likely path." Microsoft has invested in OpenAI since 2019, accumulating over $13 billion. Microsoft expressed support for the restructuring, stating that its investment in OpenAI Group PBC is now valued at approximately $135 billion, equivalent to 27% of the company's diluted shares.

▌Former FTX US President Brett Harrison to Launch Perpetual Futures Trading Platform for Stocks and Forex

According to Bloomberg, Architect Financial Technologies, a startup founded by former FTX US President Brett Harrison, has received approval from the Bermuda Monetary Authority to launch a perpetual futures trading platform called "AX," introducing this crypto derivatives mechanism to traditional asset classes such as stocks, forex, interest rates, and commodities.

▌Bitwise Solana Collateralized ETF Trading Volume Exceeds $72 Million on Second Day, Exceeding Expectations

Bitwise's Solana Collateralized ETF (ticker symbol BSOL) saw a record-breaking trading volume of $72.4 million on its second day, following a first-day trading volume of $56 million. This makes it the strongest performing ETF among nearly 850 new ETFs launched this year. Bloomberg senior ETF analyst Eric Balchunas called this a "staggering number," indicating that market enthusiasm exceeded expectations. BSOL saw inflows of approximately $69.5 million on its first day, bringing its total assets to nearly $292 million.

▌Michael Saylor: Bitcoin to Reach $150,000 by Year-End, $1 Million Target in 4-8 Years

Strategy founder Michael Saylor, in an interview with CNBC, gave his latest Bitcoin price prediction: Bitcoin will reach $150,000 by the end of the year, with a target of $1 million in the next 4-8 years.

▌Analyst: BitMine's Two Linked Addresses Receive 34,000 ETH from FalconX

According to analyst Emmett Gallic's post on the X platform, two linked addresses of Ethereum treasury company BitMine received 34,000 ETH, worth $135 million, from FalconX.

According to a report by YZi Labs, the total supply of BNB in ​​the current BNB token economics is set at 100 million, and Changpeng Zhao (CZ) personally holds less than 1% of the total supply. Currently, BNB holdings are widely dispersed, with approximately 66-67% held by unaffiliated public holders (on exchanges or in self-custody), approximately 27% used for programmatic burning by the BNB Foundation, and Binance Treasury holding approximately 4-5%. BNB primarily reduces its circulating supply through two complementary mechanisms: Auto-Burn and BEP-95. These mechanisms adjust the supply quarterly and in real-time based on activity and value flows. To date, these mechanisms have permanently destroyed over 64 million BNB, approximately 31.8% of the historical supply. The report states that ETH is the cornerstone of DeFi infrastructure, BTC is a store of value, and BNB is positioned as a high-efficiency transaction engine for the global Web3 economy. The BNB chain will be updated in 2026 and beyond to provide a centralized exchange (CEX)-like experience, serving the development of a "global decentralized finance system." Key upcoming features include: a confirmation time target of under 150 milliseconds for transactions, exchanges, and interactions; over 20,000 TPS for complex on-chain operations; an upgradeable virtual machine supporting massively parallel execution beyond the current Ethereum Virtual Machine (EVM) limitations; native privacy protection for transfers and contract calls; and Web2-level simplicity and Web3 control providing multi-signature, key rotation, and seamless authentication. These key functionalities will collectively form a modular transaction stack designed specifically for the issuance, discovery, and settlement of digital assets, helping BNB Chain become the infrastructure of on-chain financial markets, with BNB being a crucial component of this infrastructure.

▌Solana Company has increased its holdings of SOL by approximately 1 million tokens in the past two weeks, currently holding over 2.3 million tokens.

Nasdaq-listed SOL treasury company Solana Company updated its SOL token holdings, stating that it has increased its holdings of SOL by approximately 1 million tokens in the past two weeks, currently holding over 2.3 million tokens. Furthermore, the company disclosed that it also holds over $15 million in cash and stablecoins and plans to use these funds to advance its digital asset strategy.

▌Token Buybacks Exceed $1.4 Billion in 2025, HYPE Leads the List

According to market news: As of now in 2025, the total amount of token buybacks has exceeded $1.4 billion. HYPE (HYPE token) leads the list with a buyback scale of $644.6 million, followed by ZRO (ZRO token) ($150 million) and PUMP (PUMP token) ($138.2 million).

▌Swiss National Bank Holds $213 Million Worth of Strategy Stock

Swiss National Bank disclosed that it holds $213 million worth of stock in the Bitcoin treasury company Strategy. The bank reportedly manages assets totaling $10.5 trillion.

DBS Bank and Goldman Sachs have completed their first interbank over-the-counter cryptocurrency options transaction.

Foreign Ministry Spokesperson Announces: As agreed by China and the United States, President Xi Jinping will meet with US President Trump in Busan, South Korea on October 30 (Local Time) to exchange views on China-US relations and issues of common concern.

▌Trump Expresses Optimism About the China-US Summit; Foreign Ministry: Willing to Work with the US to Achieve Positive Results

Foreign Ministry Spokesperson Guo Jiakun presided over a regular press conference. The leaders of China and the United States will meet in South Korea. US President Trump expressed optimism about the summit and believes that many issues will be resolved. Guo Jiakun stated that head-of-state diplomacy plays an irreplaceable strategic guiding role in China-US relations.

During this meeting, the two heads of state will have in-depth discussions on strategic and long-term issues concerning China-US relations, as well as major issues of common concern. We are willing to work with the US side to promote positive outcomes from this meeting, providing new guidance and injecting new impetus into the stable development of China-US relations. The Federal Reserve announced the end of quantitative tightening on December 1st. (Currently, it is reducing holdings of US Treasury bonds by $5 billion and MBS by $35 billion per month.) Powell stated that there is no zero-risk policy path, and the risk balance has shifted; the Fed's rate cut is "another step towards a more neutral policy stance"; the risk management logic also applies to today's rate cut, and the October rate cut and the September rate cut share the same risk management logic. The Fed stated that it cannot address both employment and inflation risks simultaneously with a single tool. This Fed rate decision saw a rare "hawkish-doveish" situation: Governor Stephen Milan advocated for a more aggressive rate cut for the second consecutive meeting, arguing for a 50-basis-point cut instead of the actual 25-basis-point cut; meanwhile, Kansas City Fed President Schmid took a hawkish stance against any rate cut, advocating for maintaining the current rate. This kind of two-way disagreement last occurred in September 2019, reflecting a significant divergence in the Fed's assessment of the economic outlook.

▌Powell: December Rate Cut "Far From a Foregone Conclusion"

Federal Reserve Chairman Jerome Powell stated that a December rate cut is "far from a foregone conclusion."

▌Nvidia's Market Cap Surpasses $5 Trillion Mark

The Federal Reserve cut interest rates for the second consecutive time by 25 basis points and announced the cessation of QT starting in December. Powell stated that a pause in rate cuts is possible in December. The three major US stock indexes closed mixed: the Nasdaq rose 0.55%, the S&P 500 closed flat, and the Dow Jones fell 0.16%. Nvidia rose about 3%, with its total market capitalization surpassing the $5 trillion mark. Apple rose slightly, closing with a total market capitalization exceeding $4 trillion for the first time.