1. The U.S. September CPI year-on-year recorded at 2.4%, higher than expected, leading to a cautious market outlook on the Federal Reserve's interest rate cut expectations, with future policy direction drawing attention.

2. The U.S. Securities and Exchange Commission (SEC) has been criticized for its stance on cryptocurrencies, described as "a disaster for the entire industry."

3. OKX becomes the world's first cryptocurrency exchange to obtain a full operating license in the UAE, planning further expansion in the region.

According to official news, on October 10, 2024, Rifad, the General Manager of OKX Middle East, announced that OKX has become the world's first cryptocurrency exchange to obtain a full operating license in the UAE. Rifad stated that in the future, OKX will continue to invest, grow, and expand further in the region. Dubai has become one of the global centers for virtual assets, increasingly recognized for its technological innovation and development strategy. We are eager to participate in the technological innovation and community building in the ever-evolving digital asset space. -Original

4. Consumer Price Index (CPI) and Producer Price Index (PPI) data will be key risk events this week, with the market closely monitoring upcoming policy adjustments.

Singapore cryptocurrency investment firm QCP Capital stated: "Yesterday's Federal Reserve meeting minutes revealed a more hawkish stance, raising doubts about the Fed's victory in combating inflation. Combined with last Friday's strong employment data, the market has adjusted the expectation of a 25 basis point rate cut in November from 67.9% last week to 83.7%. Tonight's Consumer Price Index (CPI) and tomorrow's Producer Price Index (PPI) data will be key risk events this week. Along with major bank earnings reports (such as JPMorgan Chase and Wells Fargo), this data is crucial for assessing the strength of the U.S. economy against the backdrop of cooling inflation. Despite the rise in U.S. stock market indices last night, with the S&P 500 hitting a new high, the cryptocurrency market did not show the same optimism, with selling pressure re-emerging, possibly influenced by the Silk Road Bitcoin sell-off and PlusToken Ethereum sell-off news. As long as the key support level of 60,000 holds, we remain optimistic about 'Uptober' (October's upward trend). Given the market's expectation of more rate cuts in the future, we prefer to lock in profits at these depressed spot levels and prepare for the year-end rally." -Original

5. BlackRock strategists indicate that the likelihood of rapid interest rate cuts by the Federal Reserve is low, expecting rates to drop to 3.5% or slightly higher by early 2025.

6. Ripple Labs has filed a notice of appeal with the U.S. Second Circuit Court of Appeals, and legal developments are worth monitoring.

According to market news, Ripple Labs Inc. has submitted a notice of appeal to the U.S. Second Circuit Court of Appeals. -Original

7. South Korean cryptocurrency exchange Upbit is facing a monopoly investigation, which may impact its market position.

During an audit in the South Korean National Assembly, lawmaker Lee Kang-il expressed concerns about Upbit's market monopoly and its relationship with online bank K-Bank. He specifically pointed out that Upbit's deposits account for a significant portion of K-Bank's deposits, posing a potential risk of a bank run. Kim Byung-hwan, chairman of the South Korean Financial Services Commission, stated that he is aware of Upbit's monopoly issue and that the Financial Services Commission will investigate Upbit's monopolistic structure in response to Lee's concerns. -Original

8. U.S. prosecutors recommend an 18-month prison sentence for Heather Morgan, an accomplice in the Bitfinex hacking case, and demand the return of a large amount of cryptocurrency.

U.S. prosecutors are seeking an 18-month prison sentence for Heather Morgan (better known by her rapper name "Razzlekhan") for her involvement in laundering 120,000 Bitcoins stolen from Bitfinex during a 2016 hack. In August 2023, Morgan pleaded guilty to one count of conspiracy to commit money laundering and one count of conspiracy to defraud the United States, each carrying a maximum sentence of five years in prison. Although initially thought that Morgan and her husband Ilya Lichtenstein were merely laundering the hacker's proceeds (valued at approximately $7.5 billion today), Lichtenstein later admitted to being the original hacker and pleaded guilty to a conspiracy to commit money laundering, which carries a maximum sentence of 20 years in prison. According to court documents, Lichtenstein executed the hack alone in 2016 and did not inform his wife until four years later in 2020, or sought her help in laundering, making her an accomplice after the crime. Considering Morgan's early acceptance of responsibility and "significant assistance to law enforcement," as well as her minimal personal use of the criminal proceeds, prosecutors recommended a lighter sentence for her. In addition to seeking Morgan's imprisonment, prosecutors also requested the court to order her to return the cryptocurrency seized from the Bitfinex hacker wallet directly to Bitfinex as restitution. This cryptocurrency includes approximately 94,643.29837084 BTC, 117,376.52651940 BCH, 117,376.58178024 BSV, and 118,102.03258447 BTG, valued at over $6 billion at current prices. Morgan is scheduled to be sentenced on November 15 at 2 PM in Washington, D.C., one day after Lichtenstein. -Original

9. Ethereum ETFs are underperforming, and the market is taking a wait-and-see approach regarding their future development.

For many investors, the performance of spot Ethereum (ETH) exchange-traded funds (ETFs) has been disappointing. -Original

10. Recently, Federal Reserve's Goolsbee stated that interest rates will gradually decline significantly over the next 12 to 18 months.

Federal Reserve's Goolsbee stated that the job market has cooled to full employment levels, inflation levels are in line with expectations, and the housing market has improved. The overall trend clearly indicates that inflation has significantly decreased. The Federal Reserve must take a longer-term view, and its forecasts show that the vast majority believe that economic conditions will continue to improve over the next 12 to 18 months, with interest rates gradually declining significantly. -Original

11. The Dubai Virtual Assets Regulatory Authority has issued a cease-and-desist order and fines to seven non-compliant cryptocurrency entities.

The Dubai Virtual Assets Regulatory Authority has issued a cease-and-desist order and fines to seven cryptocurrency entities operating without the required licenses, but did not disclose the names of these entities. -Original

12. Blockchain analytics firm Elliptic announces the establishment of a regional headquarters in the UAE, indicating its focus on the market.

Blockchain analytics and digital asset risk management provider Elliptic has announced the establishment of a regional headquarters in the United Arab Emirates, aiming to expand its overall growth strategy. Over the past two years, the UAE has clearly expressed its desire to become a center for regulated blockchain and cryptocurrency activities and has gradually become a key player focused on financial innovation. -Original

13. The key to the Federal Reserve's future policy may lie in next month's employment data, which the market will closely monitor.

14. Mt. Gox extends the compensation deadline to October 31, 2025, to address unfinished procedures for bankruptcy creditors.

Mt. Gox officially announced today that the bankruptcy administrator has essentially completed the compensation work for bankruptcy creditors who have completed the necessary procedures for receiving compensation and encountered no issues during the compensation process. However, many bankruptcy creditors have not yet completed the procedures required to receive repayment and thus have not received compensation; additionally, due to various issues that arose during the repayment process, a significant number of bankruptcy creditors have temporarily not received repayment. To reasonably compensate these bankruptcy creditors as much as possible, the bankruptcy administrator, with court permission, has changed the compensation deadline from October 31, 2024 (Japan Standard Time) to October 31, 2025 (Japan Standard Time). -Original

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

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