1. Elon Musk stated that if Trump is elected president, he could help the U.S. government reduce spending by $2 trillion annually.
2. FTX reaches a $228 million settlement with Bybit, accelerating the process of returning customer funds.
FTX announced a settlement agreement with the cryptocurrency exchange Bybit, in which the latter will pay $228 million in settlement funds, and FTX will withdraw related lawsuits. According to the settlement agreement, FTX will recover $175 million worth of digital assets from the Bybit platform, while Bybit's investment division, Mirana Corp., will acquire additional assets, including BIT tokens, for $53 million. Previously, FTX accused Bybit of transferring $327 million in assets from related accounts on the eve of its collapse, preventing other users from withdrawing funds. Earlier this month, FTX's approved compensation plan is expected to allocate at least $12.6 billion to affected users. The compensation plan will be initiated within 60 days after the effective date, with the specific date yet to be determined. -Original
3. Approximately $1.19 billion worth of cryptocurrency project tokens will be unlocked next week, including a total of $940 million for TIA on October 30.
4. Tether CEO reveals the company holds 82,454 BTC.
According to a post by Bitcoin Magazine on X platform, Tether CEO Paolo Ardoino disclosed that the company owns 82,454 BTC, worth approximately $5.55 billion. -Original
5. The U.S. will release October non-farm payroll data on November 1, which the market is closely watching.
Key events to focus on next week include: On October 28, Hong Kong FinTech Week will be held from October 28 to November 1, 2024; On October 30, FTX executive Nishad Singh will be sentenced; On October 30, $950 million worth of TIA will be unlocked, accounting for 17.556% of the total supply; On October 31, the 16th anniversary of the Bitcoin white paper will be celebrated; On November 1, the U.S. will release October non-farm payroll data; For more upcoming events, please visit the AICoin "PC - News - Event Calendar" module. -Original
6. Saudi Arabia will host top financial leaders from BlackRock, Goldman Sachs, Citibank, and others in Riyadh this week.
7. Solana's network TVL increased by nearly 20% in the past week, reaching a two-year high.
Solana's TVL rose to $7.403 billion, with a weekly increase of 19.92%, marking the highest level in two years (since January 2022). -Original
8. Circle CEO states that the company has not changed its vision for going public and is optimistic that stablecoin legislation may pass after the U.S. elections.
Circle CEO Jeremy Allaire stated in an interview that the company has long desired to go public and has not changed this vision, and that the company does not need to raise funds from private markets. Jeremy Allaire said, "We are committed to the path to going public, and Circle can become a truly interesting company in the public market, but the path to going public has been fraught with challenges." Earlier this year, Circle chose a more traditional route and secretly submitted an IPO registration draft to the U.S. Securities and Exchange Commission in January. In the nine and a half months since the submission of the IPO registration draft, Jeremy Allaire has declined to comment on any interactions the company has had with the SEC or other regulatory agencies, during which the U.S. government has conducted a massive crackdown on companies in the cryptocurrency industry. Circle has been increasing its staffing this year in anticipation of going public, and the hiring spree has been driven by optimistic sentiment regarding regulation, as Washington lawmakers may ultimately provide some regulatory framework for the industry in the form of stablecoin legislation. Jeremy Allaire stated that the market is strongly optimistic that stablecoin legislation may pass after the November elections, and the new regulatory measures will reassure more traditional financial participants (including banks, asset management companies, and payment companies) to enter the crypto asset ecosystem, as they will only cooperate with regulated infrastructure, and Circle is already prepared for this. -Original
9. The Hong Kong Securities and Futures Commission discusses regulatory guidelines for crypto assets, tokenization, and AI with representatives from Asia-Pacific securities market regulators.
The Hong Kong Securities and Futures Commission discussed regulatory guidelines for crypto assets, tokenization, and artificial intelligence with representatives from 12 Asia-Pacific securities market regulatory agencies. Additionally, the Hong Kong Securities and Futures Commission hosted the first meeting of the International Organization of Securities Commissions (IOSCO) Asia-Pacific Committee's Surveillance Directors Network, where discussions included sharing the latest market developments and observations from the business community. A commercial bank also conducted a live demonstration of AI applications. -Original
10. On Coinbase's Base Ethereum Layer 2 blockchain, stablecoin transfer volume surpasses that of other chains for the first time.
On October 26, the amount of stablecoins transferred on Coinbase's Base Ethereum Layer 2 blockchain exceeded that of all other blockchains for the first time. 30% of all stablecoin transactions occurred on Base, surpassing typical leaders Ethereum, Solana, and Tron. -Original
11. Top trader Eugene Ng Ah Sio states that Solana shows strong support in technical analysis, and the market may continue to rise after the elections.
Top trader Eugene Ng Ah Sio analyzed the current market situation on social media as follows: 1. Speculative long positions in October have basically been wiped out. 2. Most people are believed to intend to avoid risk in the week or so following the November 5 elections. This catalyst has just brought the timing forward by a few days (which is why I was defensive a few days ago). 3. Considering everything happening with Solana now, since the AI memecoins craze, SOL is undoubtedly a clear asset choice. 4. From a technical analysis perspective, SOL has re-tested a six-month resistance level and has turned it into a support level after showing extreme relative strength, which is a buying point. Now that positioning is clear and prices are rising significantly, we believe we can continue the upward trend after the elections. -Original
12. Mechanism Capital co-founder Andrew Kang suggests that token economic model design should not impose lock-up restrictions on investors.
Mechanism Capital co-founder Andrew Kang posted on X platform, stating: "This may sound counterintuitive, but the best token economic model design for a project is to not impose lock-up restrictions on investors and to allow as many tokens as possible to circulate from day one (excluding team and treasury shares). A one-year lock-up period plus a three to four-year release period is a bad standard, stemming from a misunderstanding of capital markets and lazy replication of previous projects. In reality, longer unlocking restrictions have little impact on investors' input after TGE; excellent investors will support the project regardless of whether the tokens are unlocked. The industry's standards need to change." -Original
13. Murad points out that the rise of meme coins is related to the increase in global money supply.
Meme coin KOL Murad responded to Castle Island Ventures co-founder Nic Carter's statement that "the meme coin hype is largely a reaction to the SEC's oppressive regulation." Murad stated that 99% of memecoin buyers do not care about politics, and the rise of memecoins is closely related to the continuous increase in the global money supply. Memecoin buyers do not even care about using "legitimate income" and opening the cost switch to purchase things. As the global money supply increases, the importance of attention will increasingly outweigh fundamentals and cash flow. There is only one way down this path. -Original
14. The Solana ecosystem holds a large amount of meme coins, with Wintermute holding approximately $33 million.
Cryptocurrency market maker Wintermute currently holds a total of 4.35% (43.072 million tokens, worth approximately $9.74 million) of MOODENG, making it the largest holding in its Solana ecosystem tokens. Additionally, Wintermute holds $9.27 million in GOAT, $7.13 million in MEW, and $6.8 million in PONKE. -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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