1. Popular CEX currencies

Top 10 CEX trading volume and 24-hour price changes:

• BTC: -0.78%
• ETH: -1.22%
• BNB: -5.20%
• SOL: -0.82%
• DOGE: +0.83%
• QKC: +0.84%
• ASTER: +4.52%
• XPL: +3.10%
• PSG: +3.77%
• SNX: +1.09%
• TFUEL: -2.47%

24-hour price increase list (data source: OKX):

• ZBCN: +18.52%
• SNX: +13.48%
• PRCL: +9.18%
• XPL: +6.45%
• SKL: +6.12%
• COMP: +5.86%
• VINE: +4.94%
• MORPHO: +4.92%
• IMX: +4.68%
• SCR: +3.97%
• J: +3.96%

24-hour cryptocurrency stock price increase list (data source: MyStonks ):

• Canaan Inc. American Depositary Shares(CAN.M): 23.03%
• Bakkt Holdings, Inc. (BKKT.M): 18.85%
• Mawson Infrastructure Group Inc. Common Stock (MIGI.M): 19.13%
• Lithium Americas Corp. (LAC.M): 14.72%
• TeraWulf Inc. Common Stock (WULF.M): 11.79%
• CLEANSPARK INC (CLSK.M): 11.78%
• Mercurity Fintech Holding Inc. Ordinary Shares(MFH.M): 10.77%
• MARA Holdings, Inc. Common Stock (MARA.M): 10.48%
• IREN Limited Ordinary Shares (IREN.M): 10.38%
• Bitfarms Ltd. Common Stock (BITF.M): 9.46%

2. Top 5 popular memes on the chain (data source: GMGN ):

• RYO
• MetaMask
• fun
• ZKB
• Suona

Headlines

Powell signaled support for another rate cut later this month as the U.S. job market cools.

Federal Reserve Chairman Jerome Powell warned on Tuesday that the U.S. labor market is showing further signs of distress, suggesting he may be ready to support another interest rate cut later this month. "Downside risks to employment have risen," Powell noted, the strongest hint yet that Fed officials believe they have enough evidence to support another 25 basis point cut in U.S. borrowing costs. Powell added that even without new Bureau of Labor Statistics data (delayed by the government shutdown), privately produced job market indicators and internal Fed research provide enough reason to suggest that the job market is cooling. "Existing evidence" shows that "layoffs and hiring remain low," while "households' views on job opportunities and businesses' perceptions of hiring difficulties continue to trend downward." The comments suggest that Powell has become more dovish on monetary policy. (Jinshi)

Analyst: The United States plans to confiscate 127,000 BTC, and its Bitcoin holdings may increase to 324,000

According to on-chain analyst Yu Jin, the US plans to confiscate 127,000 BTC (US$14.1 billion) from Chen Zhi of Cambodia's Prince Group. This means the US government now holds 324,000 BTC, valued at US$36.2 billion, making it the largest BTC holder.

1. Chen Zhi's case documents mention that the planned confiscation of BTC is located in 25 addresses, totaling 127,271 coins. These addresses are marked on Arkham as belonging to the LuBian mining pool and were stolen in 2020.

2. These BTC were collected and transferred in July of last year, and at that time, the LuBian mining pool even issued an on-chain call for their return. However, Chen Zhi's case documents clearly state that these BTC are now in the hands of the US government, which means that the collection in July last year was likely carried out by the US government, not hackers.

3. Including the 127,000 BTC confiscated from Chen Zhi, the US government now has 324,000 BTC worth $36.2 billion.

Eugene: It is not recommended to conduct major transactions at this stage. The market is in a state of "hell difficulty"

Trader Eugene Ng Ah Sio posted on his personal channel that the market is now in "hell difficulty" and it is recommended not to make major trades (whether long or short) at this stage, especially if you have just been hit by the recent plunge.

Bloomberg Senior ETF Analyst: Solana's Spot and Staking ETFs Offer Lower Fees and Are More Competitive

Eric Balchunas, senior ETF analyst at Bloomberg, wrote on the X platform that the Solana spot ETF fee rate is 30 basis points (bps) and the pledged ETF fee rate is 28 bps, making the overall pricing "reasonable and transparent." He noted that this lower fee rate will make the Solana ETF more attractive in competition with other funds and intermediary products.

Previous news: VanEck updated the S-1 application documents for the spot Solana ETF, with a management fee of 0.30% .

Industry News

New York City Mayor Eric Adams establishes Mayoral Office of Digital Assets and Blockchain

New York City Mayor Eric Adams signed an executive order establishing the nation's first mayoral-level Office of Digital Assets and Blockchain. The office aims to promote the responsible use of blockchain and digital assets and strengthen coordination and collaboration between the crypto industry and government.

The new office will be led by Moises Rendon, who has worked in the digital asset sector in New York City for over a year. He will be responsible for collaborating with federal and state governments to develop policies that attract compliant and innovative crypto and blockchain projects. The office will also focus on attracting relevant talent, ensuring New York maintains a competitive advantage in fintech and innovation.

According to reports, Adams has always been open to cryptocurrencies, receiving salary in Bitcoin and hosting crypto summits. However, his term will end at the end of the year, and he announced last month that he would withdraw from the re-election campaign. (The Block)

Stripe's stablecoin company Bridge is applying for a national bank trust charter from the US OCC

Bridge, the stablecoin infrastructure company owned by fintech giant Stripe, is applying for a national bank trust charter through the U.S. Office of the Comptroller of the Currency (OCC). Co-founder Zach Abrams stated that if approved, Bridge would be able to provide regulated stablecoin issuance, management, and custody services under a unified federal regulatory framework under the GENIUS Act, signed into law this summer. (The Block)

WisdomTree Launches Europe’s First Physically-Backed XLM ETP

Asset management company WisdomTree has launched the "WisdomTree Physical Stellar Lumens ETP" in Europe, the first physically-backed Stellar Lumens (XLM) exchange-traded product, with a management fee of 0.50%. The ETP is already listed on the SIX Swiss Exchange and Euronext in Paris and Amsterdam, and will be available on Xetra in Germany on October 15th. WisdomTree claims this product is the lowest-cost physical XLM ETP in Europe and is designed to provide institutions with compliant access to the Stellar network's native assets. The Stellar network, renowned for its efficient cross-border payments and tokenized asset issuance, currently partners with over 69 regulated financial institutions worldwide. (CoinDesk)

10x Research: Crypto Market May Introduce Circuit Breakers to Cope with Extreme Volatility

According to a 10x Research report, the recent crypto market crash exposed deep-seated issues in exchanges' liquidation and risk management mechanisms, with some platforms profiting from the incident while others suffered hundreds of millions of dollars in losses. The report noted that automated liquidation systems, designed to provide liquidity, actually amplified the chaos during extreme market conditions, prompting institutions to re-examine their risk management systems.

A new focus of discussion within the industry is whether crypto exchanges should adopt "circuit breakers," emulating traditional financial markets, to limit extreme volatility. 10x Research notes that if implemented, this move could permanently alter the volatility structure and profitability of the crypto market. The report also recounts the political backlash triggered by leveraged liquidations in 2021, following Musk's announcement that Tesla would stop accepting Bitcoin payments. The far-reaching impact of this recent market crash could similarly reshape the crypto market structure.

"Bitcoin Jesus" Roger Ver admitted to concealing his Bitcoin holdings when renouncing his US citizenship and has reached a settlement with the US Department of Justice

According to the U.S. Department of Justice, early Bitcoin evangelist and "Bitcoin Jesus" Roger Ver has reached a settlement with the U.S., admitting that he deliberately failed to declare his Bitcoin holdings when he renounced his U.S. citizenship in 2014.

According to the Department of Justice, Ver signed a deferred prosecution agreement and paid nearly $50 million in taxes, penalties, and interest to the IRS. Prosecutors said his cover-up resulted in approximately $16.9 million in losses. The U.S. government has since dropped the criminal charges against Ver.

Acting U.S. Attorney Bill Essayli said Ver is taking responsibility for his actions and has agreed to pay a substantial fine. Ver, a citizen of St. Kitts and Nevis since 2014, was arrested in Spain last year and extradited to the United States. His case was investigated by the IRS Cybercrime Unit.

Project News

Monad: Airdrop Claim Portal is now online

Monad announced that the airdrop claim portal is now online and users can now claim.

Lighter will issue 250,000 points to compensate traders affected by the market crash

Lighter, a perpetual contract trading platform, announced that it will issue 250,000 points as compensation to traders affected by the market crash. Officials stated that the compensation will be divided into three categories:

First, due to the platform's performance degradation before the market crash, which resulted in traders' cumulative losses of approximately $25 million, the platform will issue 150,000 points and refund liquidation fees (paid in USDC);

Secondly, during the market crash, LLP holders saw their assets drop by approximately 5%. The platform will issue 25,000 points as compensation and further clarify the LLP liquidity mechanism in the technical documentation.

Finally, about 5 hours after the market recovered, the platform was briefly down for 4.5 hours due to a database failure, resulting in a loss of approximately US$7 million. An additional 75,000 points will be issued and the relevant liquidation fees will be refunded.

In addition, Lighter stated that the second season points distribution event will be held every Friday starting from October 17, with the first round of airdrops being 600,000 points.

Polymarket Prediction Market Coming to MetaMask

MetaMask announced on the X platform that the prediction market Polymarket will soon be available on MetaMask.

Aster: The refund process has been completed

Aster announced on the X platform that the platform's refund process has been completed. Users can view refund records in their "Perpetual Wallet." Refunds will be issued in USDT and can be found in the "Details" section under "Transaction History" on the page.

Enso airdrops are now available

Enso announced the official launch of the Enso Network mainnet. ENSO airdrops are now available, and staking functionality has been launched.

Investment and Financing

Stablecoin company Crown completes $8.1 million seed round of financing, led by Framework Ventures

Crown, a Brazilian stablecoin company, announced the completion of an $8.1 million seed round of financing, led by Framework Ventures, with participation from Valor Capital Group, Coinbase Ventures, Norte Ventures, Paxos, and Nubank co-founder Ed Wible. The new funds will be used to support the company's launch of the BRLV stablecoin, which is pegged to the Brazilian real (BRL) and fully backed by Brazilian government bonds. (Blockworks)

Maximum Frequency Ventures, a cryptocurrency fund, closes $50 million

Maximum Frequency Ventures, a cryptocurrency fund, announced it has raised $50 million. Shaikh, co-founder of blockchain development company Aptos Labs, revealed that he and three former colleagues participated in the investment, but declined to disclose the specific amount. In addition, the fund's limited partners also include family offices in the United States, East Asia, and Southeast Asia. (Fortune)

Bitcoin Treasury Firm Empery Digital Secures $100 Million in New Credit Line

Nasdaq-listed Bitcoin treasury company Empery Digital announced that it has reached an agreement with Two Prime Lending to obtain $100 million in new credit facilities. In addition, the company announced that it will increase its stock repurchase program to $150 million, and as of October 10, it has completed the repurchase of 6,740,482 shares of common stock. (Businesswire)

Regulatory trends

The White House may nominate Mike Selig, chief advisor to the SEC's crypto task force, to serve as CFTC chairman.

The White House is close to announcing its nominee for the new chairman of the U.S. Commodity Futures Trading Commission (CFTC), with Mike Selig, chief legal counsel for the SEC's crypto task force, currently the most likely successor.

Sources indicate that Selig remains the administration's preferred choice, and the White House has begun reviewing potential commissioners to rebuild the five-member commission, currently led by Acting Chair Caroline Pham. The nomination is seen as a crucial milestone in the crypto regulatory landscape, coming as Congress moves forward with the Market Structure Act, which would expand the CFTC's oversight of the crypto market.

Selig, currently a senior advisor to SEC Chairman Paul Atkins, previously served as an associate commissioner at the CFTC and spent ten years in the digital assets group at Perkins Coie and Willkie Farr & Gallagher.

US Republicans propose bill to codify Trump's executive order allowing 401(k)s to invest in cryptocurrencies and private equity

U.S. Republican Congressman Troy Downing will introduce a new bill on Tuesday called the Retirement Investment Choice Act, which aims to legislate an executive order previously signed by President Trump to include cryptocurrencies and private equity in 401(k) retirement plan investments.

The bill was co-sponsored by four Republican senators, including Byron Donalds, Buddy Carter, Warren Davidson, and Barry Moore. Downing said the move would allow more American savers to access high-potential alternative assets. Previously, the Biden administration had been cautious about incorporating crypto assets into retirement plans.

Japan to introduce new rules to ban cryptocurrency insider trading

Japan is reportedly set to introduce new regulations to ban insider trading in cryptocurrencies.

Character Voice

BlackRock CEO: If the US economy fails to grow at an average annual rate of 3% over the next 10 years, the fiscal deficit will completely bring down the economy

BlackRock CEO Fink stated that the biggest risk facing the US economy is the deficit. If the US economy fails to achieve an average annual growth rate of 3% over the next 10 years, the fiscal deficit will completely drag down the economy. Artificial intelligence is not a bubble, but there will still be failures in the future. AI is the most worthwhile investment. (Jinshi)

Bernstein: Growing demand for stablecoins allows Circle to withstand the impact of Fed rate cuts

Wall Street brokerage Bernstein said Circle's (CRCL) revenue could take a hit if U.S. interest rates fall sharply, but strong stablecoin demand and operating leverage could help soften the blow. The firm currently has an outperform rating on Circle stock and a $230 price target. The stock fell 2.3% in early trading to around $134.40. (CoinDesk)

Monad Lianchuang: Scammers have posted phishing ads on TG's official announcement channel. Please be sure to double-check the claim URL.

Monad co-founder Keone Hon posted on X that Telegram allows users to place ads on individual public channels, and that scammers have purchased ads on Monad's official announcement channel. This is shocking, as Telegram would actually allow ads to be pushed directly into a channel that only allows a single account to post. The team is working to have the platform remove the ads.

The only valid link to claim Monad is claim.monad.xyz. The airdrop portal will be open for three weeks. Please do not rush anything and double-check before taking any action.