AICoin Focus: Daily Hot Picks (November 02)

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1. The U.S. non-farm payroll data for October fell significantly short of expectations, with only 12,000 new jobs added and the unemployment rate remaining at 4.1%. Market expectations for a Federal Reserve rate cut have increased.

2. CME data shows a 93.1% probability of a 25 basis point rate cut by the Federal Reserve in November, with a 94.8% probability for December.

According to CME's "FedWatch": The probability of the Federal Reserve cutting rates by 25 basis points in November is 93.1%, while the probability of maintaining the current rate is 6.9%. By December, the probability of maintaining the current rate is 5.2%, and the cumulative probability of a 25 basis point cut is 94.8%. -Original

3. Elon Musk donates $119 million to support Trump's presidential campaign, drawing market attention.

4. The U.S. government demands the return of $13 million in political donations from former FTX executives, involving several political groups allied with the Democratic Party.

A recent document shows that the U.S. government has obtained more time to negotiate with certain political action groups to return up to $13.25 million donated in the names of former FTX executives Sam Bankman-Fried and Nishad Singh. The political groups involved are mostly allied with the Democratic Party, including the Senate Majority PAC, Emily's List/Women Vote, and the Future Forward PAC, which received $6 million. Singh was recently sentenced to prison and three years of supervised release, which spared the former FTX engineering director from incarceration. -Original

5. 21Shares submits an XRP ETF application to U.S. regulators, indicating ongoing market interest in cryptocurrency ETFs.

Market news: 21Shares has submitted an XRP ETF application to U.S. regulators. -Original

6. Investors are buying Bitcoin in large quantities ahead of the U.S. presidential election, increasing concerns about future policy impacts.

7. A Florida court finds the developer of a Rug Pull NFT project on Solana guilty of money laundering, potentially facing up to five years in prison.

A federal jury in Florida has found 21-year-old NFT developer Berman Jerry Nowlin (also known as Repulse and Zayous) guilty of conspiracy to commit wire fraud and money laundering, potentially facing up to five years in prison, with sentencing scheduled for January 23, 2025. Nowlin and co-defendant Devin Alan Rhoden minted the "UndeadApes" and "Undead Lady Apes" NFT series on Solana, with Nowlin serving as the developer for both projects, which included creating NFTs using an art engine, managing blockchain protocols, and writing Solana smart contracts. The two later executed a Rug Pull on a third NFT series, Undead Tombstone, deleting their Discord and Twitter accounts in April 2022 and cutting off all communication with investors, having received nearly $400,000 in cryptocurrency through these three NFTs. Rhoden pleaded guilty to conspiracy to commit wire fraud and money laundering on May 24, 2024. His sentencing hearing is set for November 20, 2024. -Original

8. In October, Solana's on-chain DEX trading volume surpassed Ethereum's, indicating increased market activity.

In October, Solana's on-chain DEX trading volume reached $52.157 billion, surpassing Ethereum's DEX trading volume of $41.499 billion during the same period. -Original

9. Paxos partners with DBS Bank to launch the Singapore-compliant stablecoin USDG, further expanding cryptocurrency applications in Asia.

Paxos announced the launch of its second localized stablecoin product, USDG, in Singapore, which is a stablecoin compliant with Singapore regulations, with its U.S. dollar reserves managed and held by DBS Bank. USDG complies with the upcoming stablecoin framework set by MAS in August 2023. Therefore, USDG is currently available on the Ethereum blockchain and will be launched on other blockchains as regulations evolve. This move comes just five months after the establishment of its interest-bearing stablecoin Lift Dollar (USDL) regulated by the UAE. Paxos' Singapore branch, Paxos Digital Singapore, received approval for USDG from the Monetary Authority of Singapore (MAS) in July. -Original

10. Kraken appoints former Dapper Labs CFO as the new Chief Financial Officer, indicating changes in company management.

Kraken has appointed former Dapper Labs CFO Stephanie Lemmerman as Chief Financial Officer, succeeding the current CFO Carrie Dolan, who announced plans to resign earlier this year. Stephanie Lemmerman has also served as CFO of Recharge Payments and as Executive Vice President of Finance at Headspace. Previously, she worked at Activision Blizzard for seven years, overseeing global teams in corporate planning and accounting. -Original

11. JPMorgan reports that Bitcoin mining revenue and profits in October have declined for four consecutive months.

JPMorgan reported in a research note on Friday that Bitcoin (BTC) daily mining revenue and gross profits fell for the fourth consecutive month in October. JPMorgan estimates that the gross profits from Bitcoin's daily block rewards decreased by 2% in October, reaching the lowest level "on record." On the positive side, transaction fees surged to 60% of block rewards at the end of the month, providing some relief for hash prices. -Original

12. Mt. Gox address transferred $35 million worth of Bitcoin last night, raising market concerns about fund movements.

Arkham disclosed on the X platform that a Mt. Gox address transferred $35 million worth of BTC last night. -Original

13. DeFiance Capital purchases approximately $3.2 million in AERO tokens within two weeks, showing interest in emerging projects.

The Spartan Group has accumulated 336,332 AERO tokens (approximately $380,000) in the past 24 hours, having first purchased 443,851 AERO on October 7 and steadily increasing their holdings since. Meanwhile, DeFiance Capital has purchased 2.87 million AERO tokens in the past two weeks, currently valued at $3.2 million. -Original

14. MicroStrategy continues to be viewed as one of the best ways to invest in Bitcoin due to its smart leverage strategy.

Brokerage Canaccord stated in a research report on Thursday that Michael Saylor's software company MicroStrategy (MSTR) remains one of the best ways for stock investors to invest in Bitcoin (BTC) due to the company's smart leverage strategy. -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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