1. U.S. short-term interest rate futures rose slightly as traders increased bets on a Federal Reserve rate cut, influenced by job vacancy data.
2. The Republican Party's election win probability has increased in prediction markets, potentially accelerating the passage of crypto-related legislation in Congress.
Analysts at financial services company Presto stated that as Trump's lead over Harris on Polymarket continues to grow, the likelihood of the Republican Party achieving a significant victory on this decentralized prediction platform is also rising, which increases the chances of crypto-related legislation passing in Congress. On Polymarket, the probability of the Republican Party winning the presidency, Senate, and House of Representatives after next week's election has reached 48%, up from 28% earlier this month. Presto analysts Peter Chung and Min Jung stated on Tuesday that this outcome would give the major pro-crypto party greater control over legislation and the U.S. policy agenda, potentially resolving regulatory uncertainties that hinder the industry's development. Among the more than 50 proposed crypto bills, six (including the "FIT21" bill aimed at regulating the entire industry) have passed in the House and are currently awaiting approval from the Democrat-controlled Senate. Analysts noted that the last time the Republican Party achieved three consecutive victories was during Trump's first term, before he shifted to support cryptocurrencies, but it only lasted two years until the Democrats regained control of the House in 2018. -Original
3. Tether issues 1 billion USDT on the TRX chain, attracting market attention.
On October 30 at 04:43 (UTC+8), Tether issued 1 billion USDT on the TRX chain, transaction hash: 9b0de3df16ebc5293870816216c0dbe6e6d69ab46203e3a6d061e86e1b799134. Note: The above data is sourced from OKLink. -Original
4. The U.S. Treasury's new financial inclusion strategy report mentions cryptocurrency only once, raising industry concerns.
The U.S. Treasury has a dedicated agency to help people enter the financial system, but this 35-page report mentions cryptocurrency only once, to promote the Treasury's work in marking the industry's harms. -Original
5. DWF Labs fires a partner as the Bhutanese government transfers $66 million in Bitcoin to Binance, causing market fluctuations.
Cryptocurrency trading firm DWF Labs has fired a partner due to allegations of beverage poisoning that surfaced on X. The government of the Kingdom of Bhutan deposited 929 Bitcoins, worth $66 million, into Binance on Tuesday morning. A hacker compromised the X account of Truth Terminal founder Andy Ayrey to promote a scam token. The following article is adapted from The Block's newsletter "The Daily," which is published on workdays. -Original
6. dYdX Trading lays off 35%, including core team members, reflecting market uncertainty.
According to the company's blog, dYdX Trading has laid off 35% of its staff. CEO Antonio Juliano recently rejoined the company after a six-month leave. -Original
7. Analysts expect Coinbase's revenue to be impacted due to declining trading volume and regulatory uncertainty.
Wall Street analysts expect that Coinbase's (COIN) spot trading volume will further slow in the third quarter, partly due to a lack of catalysts in the cryptocurrency market and regulatory uncertainty ahead of the presidential election. -Original
8. Gemini receives in-principle approval for MPI license from Singapore's central bank, plans to expand operations.
The Monetary Authority of Singapore (MAS) has granted in-principle approval for Gemini to obtain a Major Payment Institution (MPI) license, allowing the organization to provide digital payment token and cross-border remittance services. Gemini stated in an announcement that receiving in-principle approval is a milestone for the company, as Singapore has always been the "core" of its operations in the Asia-Pacific region, and the trading platform will continue to work towards obtaining final approval for the MPI license. -Original
9. ForTube designated as a warning stock by Upbit, deposit services suspended.
According to an announcement from Upbit, ForTube (FOR) has been designated as a warning stock, and corresponding deposit services will be suspended. It stated that the issuance of ForTube (FOR) appears to have exceeded expectations, and it has repeatedly requested explanations from the foundation, but the foundation has not responded. Additionally, based on best practices for supporting virtual asset trading, considering the extent and transparency of significant changes in the business, the reasonableness of the change procedures, and the actual progress of the project, the disclosures are still insufficient. Therefore, Upbit has designated ForTube (FOR) as a warning stock to protect investors. -Original
10. NBA Topshot NFT sales hit a six-month high, indicating an active digital collectibles market.
As of the week ending October 27, weekly sales reached 43,600 NFTs. The following content is excerpted from The Block's data and insights newsletter. -Original
11. MicroStrategy's unrealized Bitcoin investment losses reach $8.4 billion, continuing to attract market attention.
12. Kraken partners with Optimism to launch Layer 2 network Ink, demonstrating ongoing investment in blockchain technology.
13. ING states that a softening U.S. job market may prompt the market to digest expectations of further Federal Reserve rate cuts.
Ahead of U.S. employment data and the presidential election, the dollar remains stable. ING analyst Francesco Pesole stated in a report that the U.S. JOLTS job vacancy data may distract the market from the November 5 election. He noted that signs of a softening job market could prompt the market to digest expectations of further Federal Reserve rate cuts. However, if U.S. economic data does not worsen, the dollar should appreciate before the election. "We still have a positive bias on the dollar, and we wouldn't be surprised to see the dollar index close to 10 on election day." -Original
14. Elon Musk states that the likelihood of problems arising from artificial intelligence is between 10% and 20%, sparking widespread discussion.
Musk stated that the likelihood of problems arising from artificial intelligence is between 10% and 20%. -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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