AICoin Focus: Daily Hot Picks (October 22)

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1. Federal Reserve official Logan stated that if the economy meets expectations, interest rates will be gradually lowered, flexibly responding to monetary policy.

2. BlackRock's IBIT assets under management increased to $26 billion, showing strong performance and active investor participation.

Bloomberg ETF analyst Eric Balchunas posted on the X platform that BlackRock's IBIT assets under management reached $26 billion, ranking in the top 2% among all ETFs. IBIT performed exceptionally well this week, with new funds exceeding $1.1 billion, marking the best week since March. -Original

3. The Republican Party is expected to win the U.S. election, driving $2.2 billion into global crypto investment products.

Last week, net inflows into global digital asset investment products reached $2.2 billion, the largest single-week net inflow since July. Research director James Butterfield reiterated that the positive inflow of funds is mainly driven by optimism surrounding the Republican Party's chances in the U.S. election. -Original

4. A whale withdrew 8,065 ETH from Binance, holding total assets of $390 million, attracting market attention.

In the past 6 hours, a whale withdrew 8,065 ETH (approximately $21.77 million) from Binance, bringing its total assets to $390 million. -Original

5. Federal Reserve's Daly supports continued rate cuts at the November meeting, emphasizing policy flexibility.

Federal Reserve's Daly stated that the Fed will continue to adjust its policies. The recent rate cut was a "narrow victory." I strongly support a 50 basis point cut. The Fed's policy for the November meeting will be determined based on data. So far, we have not seen any signs that we will not continue to cut rates. If inflation continues to decline, even if the economy performs strongly, I hope to maintain an open attitude and continue to ease policy. He also mentioned that what was overlooked in the Silicon Valley Bank incident was the "concentration risk" of its client network. An independent central bank is an advantage. The Fed has not incorporated artificial intelligence into its policy work. Currently, the Fed's work on AI is to understand how other institutions use AI and its impact on the economy. -Original

6. Cryptocurrency donations for the 2024 U.S. election have exceeded $190 million, showing the political influence of crypto.

7. Litecoin founder hopes to see Litecoin ETF approved soon, with strong market demand for ETFs.

Fox Business reporter Eleanor Terrett posted on the X platform that Litecoin founder Charlie Lee commented on Canary Capital's application for a Litecoin ETF, stating: "I am pleased to see Canary Capital apply for a Litecoin ETF. We are indeed seeing a lot of institutional demand for Litecoin. This is clearly evident from the daily growth of the Grayscale Litecoin Trust, which is priced at more than twice its net asset value. Given that Litecoin is a commodity very similar to Bitcoin, I hope to see the Litecoin ETF approved soon." -Original

8. Bitcoin options traders bet on call options above $80,000, with the market eagerly anticipating the election results.

9. CFTC Chairman urges Congress to take action on cryptocurrency legislation, emphasizing the importance of regulation.

CFTC Chairman Rostin Behnam stated that he does not expect Congress to take action on cryptocurrency legislation at the SIFMA annual meeting on Monday. Behnam also called for Congress to "intervene" in election betting. -Original

10. Stripe acquires stablecoin platform Bridge for $1.1 billion, advancing the development of crypto payments.

According to a post by TechCrunch founder Michael Arrington on Sunday on X, payment processor Stripe has completed the acquisition of stablecoin platform Bridge for $1.1 billion to advance its cryptocurrency ambitions. -Original

11. Hong Kong proposes to expand asset categories to virtual assets, allowing tax exemptions on trading profits.

On October 21, Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, stated in a blog post that the government plans to optimize the current tax incentives provided to the asset and wealth management industry in multiple ways to elevate the market. Regarding the expansion of eligible asset categories, Hui mentioned that authorities propose to broaden the eligible asset categories in line with the overall financial development strategy of the Treasury, adding carbon emission derivatives/allowances, insurance-linked securities, loans and private debt investments, and virtual assets, allowing trading of such assets to also qualify for tax exemptions on profits. On the other hand, it is suggested that anyone operating financial institution business, insurance business, or lending business in Hong Kong, who holds 10% or more beneficial interest in a fund, will be deemed to derive taxable profits from income obtained from loans or private debt investments related to that fund. If the fund is associated with that person, any percentage of beneficial interest will apply. The next step for the Treasury will be to release a consultation document on the overall proposal, collect and analyze opinions, and then propose relevant legal amendments to implement various optimizations, adding momentum to industry development. -Original

12. Bank for International Settlements report emphasizes tokenization risks as financial institutions explore new technologies.

The Bank for International Settlements (BIS) report highlights the benefits of tokenization, including reduced transaction costs and faster transaction speeds. Governance, legal, and liquidity risks are key concerns for central banks holding tokenized assets. Major financial institutions are trialing tokenized deposits to improve settlement efficiency and programmability. -Original

13. Crypto payment provider Transak suffers ransomware attack, leading to partial user data leak.

According to on-chain detective ZachXBT, crypto payment service provider Transak recently suffered a ransomware attack. Transak stated in a blog post earlier today that the incident was limited to a small number of users (1.14% of the user base) whose names and basic identity information were affected, while the ransomware group claimed that personal identifiable information (PII) and more user data were also included. According to Transak's website, it has been integrated with Metamask, Trust Wallet, Coinbase, Ledger, etc., for fiat and cryptocurrency on-ramps and off-ramps. -Original

14. Paradigm co-founder states stablecoins are the next killer application for cryptocurrencies.

Matt Huang, co-founder of crypto investment firm Paradigm, posted on social media stating, "Stablecoins are the next killer application for cryptocurrencies—obvious to everyone in the crypto industry, but not so obvious to outsiders. Congratulations to Stripe and Bridge." Payment company Stripe has acquired stablecoin platform Bridge for $1.1 billion, marking the largest acquisition in the cryptocurrency space. -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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