Due to the Federal Reserve's interest rate cut, Circle will increase the exchange fees for the USDC stablecoin.
Author: Deep Tide TechFlow
Yesterday's Market Dynamics
DWF partner dismissed and removed from the official website due to attempted drugging allegations
Cryptocurrency market maker DWF Labs has fired partner Eugene Ng due to a "sexual assault scandal" and has removed his information from the official team page. In addition to being a DWF partner, he also founded the RWA company OpenEden.
DWF Labs posted on X stating that they are aware of recent allegations against one of their partners involving inappropriate and unacceptable behavior, which is deeply concerning. While the matter is still under investigation, DWF Labs has decided to immediately relieve the partner of his management and operational duties.
It is reported that a girl named Hana stated on X that on the evening of October 24, the DWF partner placed unknown drugs in her drink multiple times at a bar in Hong Kong, and she was saved after being alerted by the staff. Hana mentioned that she obtained video footage from the venue and has reported the incident to the police.
dYdX founder, recently reappointed as CEO, announces 35% staff reduction
On October 30, dYdX founder and CEO Antonio Juliano published a blog announcing a 35% staff reduction, including the core dYdX team.
On October 10 of this year, dYdX founder Antonio announced his return as CEO, stating that dYdX is facing intense market competition and an unfavorable market environment, requiring the founder's leadership to guide the team through difficulties.
Florida CFO proposes to include Bitcoin and other digital assets in state pension fund
According to Crypto Briefing, Florida CFO Jimmy Patronis has proposed to include Bitcoin and other digital assets as investment options in the state pension fund.
He pointed out that Florida's economic performance and history of innovation provide reasons to explore the potential of cryptocurrencies, with Bitcoin serving as "digital gold" to diversify portfolios and hedge against the volatility of other assets. Patronis proposed creating a "digital currency investment pilot program" applicable to Florida's growth fund to support innovative investments.
Additionally, the letter mentioned that other states such as Wisconsin, Michigan, and Arizona have begun investing in cryptocurrencies, while Wyoming and Nebraska have enacted laws to attract the crypto industry. Patronis requested the state management committee to assess the risks and benefits of digital currency investments to ensure Florida remains at the forefront of new investments and provides the best returns for residents.
Crypto wallet MetaMask developer Consensys announces 20% layoffs
According to Fortune, Consensys, the developer of the crypto wallet MetaMask, announced a 20% layoff, affecting approximately 160 employees. The company's founder and CEO Joe Lubin announced this news in a blog post, attributing the layoffs to macroeconomic headwinds and the legal expenses from the company's long-standing battles with regulators.
Consensys previously sent an open letter to future U.S. presidents, calling for clear and supportive regulations for cryptocurrencies and Web3. The letter stated that regulatory decisions need to be transparent to keep the U.S. competitive globally while addressing consumer protection and illegal activities.
Yesterday's on-chain fund flow: SUI net inflow of $19.8 million, Ethereum net outflow of $33.9 million
According to Artemis data, yesterday SUI had a net inflow of $19.8 million, Arbitrum had a net inflow of $5.5 million, Solana had a net inflow of $3.4 million, while Ethereum had a net outflow of $33.9 million.
Nomura warns: Market overly hedged against Trump trade, Harris's approval rating may be higher than expected
According to Zero Hedge, Nomura Managing Director and Americas Cross-Asset Macro Strategist Charlie McElligott warned in a recent report that the market has overly hedged against the hypothetical outcome of Trump and the Republican Party winning both houses of Congress in the upcoming election, which could lead to Harris's approval rating being higher than expected and a deadlock in the election, posing reversal risks for various assets. This is because the U.S. Treasury will experience significant issuance in the coming days and the next two weeks, including the issuance of $70 billion in five-year U.S. Treasury bonds, $69 billion in two-year bonds, and $44 billion in seven-year bonds, along with the JOLTS report disclosing U.S. job vacancies, the Treasury's latest refinancing announcement, personal consumption expenditures (PCE), non-farm payroll data (NFP), U.S. presidential election day, and the November FOMC meeting.
Circle: Due to the Federal Reserve's interest rate cut, USDC stablecoin exchange fees will be increased
Circle announced an increase in the exchange fees for its USDC stablecoin. Due to the Federal Reserve's interest rate cut, the cash reserve earnings for stablecoin operators have decreased, and Circle's move aims to address this change.
Circle currently charges fees for USDC exchanges over $15 million and additional fees for rapid redemptions exceeding $2 million daily. These fees start at 0.03% per transaction and can go up to 0.1%. This fee adjustment comes as the company prepares for its public listing.
In an increasingly competitive stablecoin market, despite Tether dominating with over 70% market share, Circle still faces competitive pressure from smaller and more agile startups.
Synthetix multi-collateral perpetual contracts launched on Kwenta, supported by Pyth Network
Synthetix multi-collateral perpetual contracts based on Arbitrum have been launched on Kwenta, supported by Pyth Network. Pyth Network will provide over 500 real-time price data sources, updated every 400 milliseconds, aiming to deliver the most accurate, reliable, and real-time data in the DeFi space to enhance the trading experience.
Kwenta is known as the Synthetix ecosystem's spot and perpetual contract trading platform, supporting 81 new Perps markets and 4 new collateral options, including tBTC, ETH, USDe (Ethena), and USDx (Arbitrum native Synthetix stablecoin).
Tether Treasury mints 1 billion USDT (authorized but unissued) on Tron this morning
According to Whale Alert monitoring, at 4:43:51 Beijing time, Tether Treasury minted 1 billion USDT on Tron.
Tether CEO Paolo Ardoino commented that this is an authorized but unissued transaction, meaning it will be used as inventory for the next issuance request and on-chain swaps.
Exchange listing report: Bitget lists the most tokens, Binance has the highest average returns
Animoca Brands Research released an overview of exchange listing project performance from January to September 2024.
The report shows that the average return of projects listed on multiple exchanges this year has been negative. Among them, Binance and OKX performed relatively steadily, with average returns of -27.00% and -27.30%, respectively, while KuCoin and Bitget, Bybit followed closely with average returns of -48.30%, -46.50%, and -50.20%.
In terms of the number of listings, Binance and OKX launched 44 and 47 tokens this year, relatively few, while Bybit listed 155 tokens, KuCoin listed 188 tokens, and Bitget adopted a more aggressive strategy, adding 339 tokens.
Recommended Reading
LUCE skyrockets overnight, is the real "religious Meme" here? | Today's Meme Perspective
AI Introduction: This article introduces a new Meme token called "Luce," which has rapidly increased in market value in a short time, attracting widespread attention in the market. The article details Luce's background, design concept, and market performance, while reminding investors of the high risks associated with Meme tokens.
About me launching a meme coin with a refrigerator… | Today's Meme Perspective Showcase
AI Introduction: A developer launched a meme coin called "FRIDGE" using a Samsung smart refrigerator in a mall, attracting widespread attention. Throughout the process, he live-streamed on Twitter, and the refrigerator coin's market value quickly rose. The mall manager initially stopped the filming but eventually became interested in the refrigerator coin. Community members actively participated, ultimately helping the developer find and purchase the same refrigerator. This event showcases the creativity and cohesion of the crypto community.
AI Introduction: This article discusses the origin of the latest meme coin, Luce, the official mascot launched by the Vatican for the 2025 Jubilee Year, aimed at attracting a young audience and engaging with pop culture. Luce will debut at the Lucca Comics & Games event in Italy and will represent the Vatican Pavilion at the 2025 World Expo in Osaka, Japan. Luce is designed by the Italian pop culture brand tokidoki, symbolizing hope and faith, and plans to welcome the Jubilee Year through a series of cultural activities, including concerts and art exhibitions.
This Week's Alpha: 9 Major Market Catalysts + Stablecoin Airdrop Strategy
AI Introduction: This article mainly discusses recent dynamics in the cryptocurrency market and some important events, including token releases, market catalysts, macroeconomic events, etc. It also provides strategies on how to participate in airdrops. Key crypto market catalysts to watch this week include TIA token unlock, Chainlink SmartCon conference, and Jito's Solana re-staking launch.
How AI-driven Memes are Capturing Attention and the Attention Economy
AI Introduction: This article explores the current state and development trends of the AI-driven meme token market, particularly the rise of the $GOAT token. By narrating the story of $GOAT, the article analyzes how the combination of AI and meme culture impacts the market and discusses whether this phenomenon will become a lasting cultural trend.
Web3 Project Foundation Myths: A Must-Read Token Issuance Pitfall Guide for Founders
AI Introduction: The article discusses the complexities and misconceptions of using a "foundation" structure for token issuance in Web3 projects, particularly in legal and tax aspects. It details the foundation structures in different jurisdictions, such as Panama and the Cayman Islands, and their roles in token issuance.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
