1. Former President Trump criticizes Vice President Kamala Harris for "waging war on cryptocurrency" and promises to end this "war," drawing market attention.

2. A large number of institutional traders are betting on CME that Bitcoin's price will exceed $85,000 by November next year, indicating optimistic market expectations for cryptocurrency.

As the U.S. election approaches, the trading volume of CME Bitcoin futures options has increased, with many institutional traders betting that Bitcoin's price will exceed $85,000 by the end of November. Joshua Lim, CEO of Arbelos Markets, expressed his pleasure at seeing institutional investors making such large-scale bets on CME, which may be a good sign indicating that as the asset class of the crypto derivatives market matures, its liquidity will continue to enhance. Bitcoin is increasingly viewed as a hedge against inflation and an alternative tool for the U.S. presidential election, with the options market expecting a 7% volatility in Bitcoin on election day, which is slightly lower than Bitcoin's beta relative to risk assets. -Original

3. JPMorgan analysts state that a Trump victory could drive up Bitcoin and gold prices, increasing market expectations for retail demand.

JPMorgan analysts indicated that a Trump victory could lead to more retail demand for Bitcoin and push its price higher. Analysts noted that as the election approaches, retail investors have been flocking to Bitcoin. -Original

4. Michael Saylor plans to buy more Bitcoin and continue to influence the stock market.

In Michael Saylor's world, economics seems completely inverted. -Original

5. Standard Chartered expects increased volatility in the Bitcoin market during the U.S. election due to potential delays in election results.

Geoff Kendrick from Standard Chartered stated that the likelihood of Bitcoin breaking above the historical high of $73,700 before the U.S. election has decreased due to traders closing positions. Kendrick anticipates that volatility in the Bitcoin market will intensify on election day and in the days following, as the final election results may be delayed. -Original

6. Coinbase reports third-quarter revenue below expectations, leading to a drop in stock price.

7. Florida holds approximately $800 billion in crypto investments, and the CFO proposes investing part of the state pension fund in cryptocurrency.

Florida's Chief Financial Officer Jimmy Patronis stated that the state holds about $800 billion in "crypto-related" investments. Earlier this week, Patronis mentioned in a letter that Florida should "invest part of the state pension fund in cryptocurrency." -Original

8. The Central Bank of Brazil considers taxing remittances of stablecoins and may issue special licenses for trading platforms.

The booming stablecoin market in Brazil has caught the attention of the central bank. Reports indicate that the Central Bank of Brazil is exploring various options for taxing remittances of stablecoins, including issuing special licenses to cryptocurrency trading platforms providing such services. -Original

9. UK crypto trading platform Archax acquires Spanish brokerage KSCM, planning to expand its European business.

UK crypto trading platform Archax has acquired Spanish brokerage King & Shaxson Capital Markets to expand its European business. The completion of the deal is subject to approval from Spanish regulatory authorities. The value of the transaction has not been disclosed. KSCM was established in Madrid in 2019 to serve pan-European institutional clients. After the acquisition, it will become a wholly-owned subsidiary of Archax. This acquisition will enable the FCA-registered company to expand its existing brokerage business, multilateral trading facilities (MTF), and custody services into Europe while adding crypto derivatives to its license. -Original

10. Musk states that Trump and DOGE will solve America's illegal immigration problem, sparking heated discussions in the crypto community.

Musk posted on social media: "Our system is inverted, making it difficult for high-quality talent to enter the U.S. legally, while criminals can easily enter illegally. Why is illegal entry easier than legal entry? Trump and DOGE will solve this problem." -Original

11. Ahead of the U.S. election, CME Bitcoin options trading volume increases, reflecting bullish market sentiment.

Before the U.S. election, the trading volume of CME Bitcoin futures options has increased, with many institutional traders betting that Bitcoin's price will exceed $85,000 by the end of November. Additionally, the open interest-weighted funding rate for Bitcoin has reached a multi-month high, indicating strong bullish positions in the market and expectations for potential gains. -Original

12. Crypto.com acquires SEC-registered broker-dealer Watchdog Capital to expand its product offerings.

Crypto.com announced the acquisition of SEC-registered broker-dealer Watchdog Capital to expand its product offerings and broaden investment channels for eligible U.S. traders in stocks and options. -Original

13. The Deputy Governor of the Bank of England emphasizes the need to establish a policy framework to manage risks posed by AI and ensure financial stability.

The Deputy Governor of the Bank of England, Jon Cunliffe, stated that financial regulators must establish a policy framework to manage the risks posed by artificial intelligence (AI) and ensure financial stability. Cunliffe pointed out that the rapid development and application of generative AI could impact the financial system. To this end, the Bank of England has launched an AI alliance, inviting the private sector and AI experts to participate, aiming to gain a deeper understanding of the benefits and potential risks of AI. According to a five-year survey by the Bank of England and the Financial Conduct Authority (FCA), the application of AI in financial services is growing rapidly, with 75% of nearly 120 surveyed firms having adopted some form of AI, up from 53% in 2022. The Bank of England will work with the FCA, government, and international partners to promote the safe application of AI. The Financial Policy Committee (FPC) of the Bank of England is focusing on the macroprudential risks posed by AI, particularly its potential impact on financial stability. The FPC plans to release a detailed assessment report on the impact of AI on financial stability early next year to help formulate appropriate regulatory policies to ensure the safe application of AI in the financial system. -Original

14. BlackRock holds more than 2% of the total Bitcoin supply, demonstrating continued confidence in the crypto market.

BlackRock officially updated its spot Bitcoin ETF holdings, stating that as of October 30, BlackRock IBIT holds 429,185 Bitcoins, exceeding 2% of the total Bitcoin supply. Its holdings have a market value of over $30.86 billion. -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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