Headline
▌Tether minted 1 billion USDT
According to Whale Alert, Tether Treasury minted 1 billion USDT on the Tron blockchain about an hour ago.
Tether CEO Paolo Ardoino said this was an authorized but unissued transaction, meaning it will be used as inventory for the next issuance request and on-chain exchange.
▌White House: Biden thanks Nigerian President for releasing Binance executive Tigran Gambaryan
According to a statement issued by the White House on Tuesday, U.S. President Joe Biden called Nigerian President Bola Tinubu on Tuesday and thanked him for releasing U.S. citizen and Binance executive Tigran Gambaryan during the call. The press release stated that Biden "emphasized his gratitude for President Tinubu's leadership in securing Gambaryan's release" during the call, and Biden particularly appreciated cooperation in law enforcement, including through the recently announced bilateral liaison group on illicit finance and cryptocurrency, cooperation on new and innovative technologies, and shared interests in reforming international organizations to reflect African voices. As previously reported, on the day Tigran Gambaryan was released, the U.S. State Department announced the establishment of a new bilateral liaison group between the United States and Nigeria to focus on cryptocurrency and illicit finance.
Market
As of press time, according to Coingecko data:
BTC's latest transaction price is $72,678.83, with a daily increase or decrease of +4.1%;
ETH's latest transaction price is $2,636.83, with a daily increase or decrease of +2.9%;
BNB's latest transaction price is $605.83, with a daily increase or decrease of +0.9%；
SOL's latest transaction price is 179.18 US dollars, with a daily increase or decrease of +0.7%；
DOGE's latest transaction price is 0.1763 yuan, with a daily increase or decrease of +9.4%；
XPR's latest transaction price is 0.528 US dollars, with a daily increase or decrease of +1.8%.
Policy
▌Reuters/Ipsos poll: Harris leads Trump by only one percentage point, 44% to 43%
A Reuters/Ipsos poll on Tuesday showed that Harris' lead over Trump further narrowed in the final stages of the US presidential campaign, leading by only one percentage point, 44% to 43%.
Blockchain Applications
▌Blockchain development platform Alchemy will support Bitcoin for the first time by integrating the Rootstock sidechain
Blockchain development platform Alchemy will support Bitcoin for the first time by integrating the Rootstock sidechain. According to the team: "Alchemy joins more than 150 other integrated dApps as part of the Rootstock ecosystem, bringing more options to EVM-centric developers who want to create and innovate on Bitcoin."
▌Hong Kong pushes asset tokenization to hit three major pain points of cross-border payments
The Hong Kong Monetary Authority announced the development of innovative financial market infrastructure through the Ensemble project to advance the development of Hong Kong's tokenization market, and cooperated with the Bank of Thailand to explore cross-border tokenization use cases. Ant Group Chairman and CEO Jing Xiandong believes that tokenization has a great impact on global cross-border payments. At present, small and medium-sized enterprises have many pain points in the payment experience when doing cross-border business, such as expensive and time-consuming handling fees. In the future, it can be improved through tokenization technology. Tokenization is a point-to-point payment without intermediaries, 24 hours online, programmable and executable. Cross-currency payments will be good if there is tokenized collateral, which is of great significance to the realization of global real-time payments across borders, currencies and banks. (Securities Times)
Cryptocurrency
▌Wall Street analysts expect Coinbase Q3 revenue to be affected by falling trading volume and regulatory uncertainty
Wall Street analysts expect Coinbase (COIN) spot trading volume to slow further in the third quarter, partly due to the lack of catalysts for cryptocurrencies and the uncertain regulatory environment before the presidential election. Coinbase's third-quarter revenue is expected to fall by about 13%, from $1.45 billion in the previous quarter to $1.26 billion. At the same time, earnings per share (EPS) are expected to be $0.46, up from $0.14 in the second quarter. "Trading volume is expected to continue to be weak this quarter, mainly due to a decline in retail trading revenue," analyst Benjamin Buddish wrote in a report. He gave the stock an equal weight rating and raised its target price from $169 to $175, while lowering its third-quarter earnings per share forecast from $1.62 to $1.05.
▌Florida’s CFO advocates for strategic Bitcoin reserves
Florida’s CFO advocates for strategic Bitcoin reserves, calling BTC “digital gold”.
▌Brazil’s cryptocurrency inflows grew 60.7% in the first nine months of this year
Brazil’s cryptocurrency inflows grew 60.7% in the first nine months of 2024, exceeding the total inflows for the whole of 2023.
According to Chainalysis, Brazil’s cryptocurrency market is currently the tenth largest in the world. One of the main reasons for the growth is the surge in the use of stablecoins within the country. Digital assets pegged to the US dollar account for nearly 70% of all crypto-related transactions.
▌Goldman Sachs: Traders overestimate the risks of a “difficult birth” of the U.S. election results to financial markets
Goldman Sachs Group said that global investors overestimated the risk of financial markets falling into uncertainty due to the “difficult birth” of the U.S. presidential election results next week. The company's Michael Cahill, Lexi Kanter and Alec Phillips said: "While we recognize the possibility of tail risks, we think market participants seem to have overestimated the probability that delayed election results will prevent financial markets from digesting possible election results on election night or the next morning."
▌Circle plans to increase USDC stablecoin exchange fees
Circle, a New York-based stablecoin issuer, will increase the exchange fees for its USDC stablecoin. Circle will charge a fee for USDC exchange exceeding $15 million and an additional fee for instant redemptions exceeding $2 million per day. The fees start at 0.03% per transaction and go up to 0.1% for redemptions over $15 million.
Analysts at The Block said it seemed reasonable for Circle to adjust its fees in the face of a lower interest rate environment and IPO pressure.
▌Viewpoint: TIA unlocking is several times the average daily trading volume, which may lead to increased volatility
About 175 million locked Celestia (TIA) tokens were unlocked on October 30, including releases to early investors, which will increase the token supply by 80%, the largest single unlocking event since the token was launched in October last year. The tokens are currently worth $920 million and are priced at just over $5 per coin on exchanges.
Anagram partner David Shuttleworth said: "There may be some noticeable impacts" or increased volatility. He noted that the number of tokens unlocked is several times the average daily trading volume of TIA, which has been between $50 million and $200 million over the past month. Crypto analyst Will Clemente said the likelihood of a rebound in TIA after the unlock has increased, saying: "Bitcoin price action further reduces the likelihood that Thursday's TIA unlock will have a bearish impact on the market."
Important Economic Dynamics
▌Bank of Canada Governor: We are starting to see some effects of the recent rate cuts
Bank of Canada Governor Macklem said we are starting to see some effects of the recent rate cuts.
▌Goldman Sachs: Gold aims at $3,000 next year
Goldman Sachs said that we have formally established a gold pricing framework and elaborated on the drivers of our bullish forecast, predicting that gold prices will rise by about 10% to $3,000/ounce by December 2025. Our model can well explain monthly price changes by aggregating physical gold demand from financial and monetary authorities, investors and speculators.
▌The probability of the Fed cutting interest rates by 25BP in November is 98.8%
According to CME's "Fed Watch", the probability of the Fed cutting interest rates by 25 basis points by November is 98.8%, and the probability of maintaining the current interest rate unchanged is 1.2%. The probability of maintaining the current interest rate unchanged by December is 0.3%, the probability of a cumulative interest rate cut of 25 basis points is 21.5%, and the probability of a cumulative interest rate cut of 50 basis points is 78.3%.
Golden Encyclopedia
▌What is Aptos Blockchain?
Aptos aims to be a fast, scalable and reliable blockchain that supports decentralized applications (DApps) and aims to accelerate the development of Web3. Avery Ching and Mo Shaikh launched the Aptos blockchain on October 12, 2022. It is designed to achieve high throughput and low latency, which means it can process approximately 160,000 transactions per second and verify them in less than 1 second on average. Aptos technology natively integrates the Move language to provide these fast and secure transactions, allowing developers to write smart contracts and build DApps. Aptos provides everything you need to "build your big idea", and even combines artificial intelligence to make Web3 easy for novices and experts.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish the correct investment concept and be sure to increase risk awareness.
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