Headlines
▌Brazil Supreme Court judge lifts ban on social media X
Brazil's Supreme Court judge lifted the ban on social media company X. Brazil's communications minister said X's decision to pay the fine and comply with Brazilian law was a victory for the country.
Bitcoin protocol Babylon’s pledged deposits reach about $1.5 billion
Bitcoin protocol Babylon completed its second round of pledge deposits on Tuesday, increasing the amount of deposits from about 1,000 BTC to about 24,000 BTC, worth about $1.5 billion. This round of pledge deposits used a "time-based" method and lasted for 10 Bitcoin blocks.
Quotes
As of press time, according to Coingecko data:
BTC's latest transaction price is $62,098.49, with a daily change of -0.1%;
ETH's most recent trading price is $2,438.50, with a daily change of +0.6%;
BNB's latest transaction price is 580.88 USD, with a daily change of +2.9%;
SOL's latest trading price is $143.49, with a daily change of -0.2%;
DOGE's latest transaction price is 0.1072 yuan, with a daily change of -0.9%;
XPR recently traded at $0.5307, with a daily change of +0.2%.
policy
▌Canary Capital submits spot XRP ETF application to the US SEC
Cryptocurrency investment company Canary Capital has submitted a registration application for a spot XRP exchange-traded fund (ETF) to the U.S. Securities and Exchange Commission (SEC), becoming the second company to apply for such a product this month. Founder Steven McClurg said that as demand for blockchain solutions grows, the company sees a more progressive regulatory environment. The ETF will provide investors with the opportunity to access the XRP market through traditional brokerage accounts, avoiding the potential risks of holding XRP directly. The custodian of the ETF has not yet been determined.
Blockchain Applications
Samsung supports crypto payments after integrating Alchemy Pay
Crypto payment solutions provider Alchemy Pay has integrated its virtual card with Samsung’s mobile payment and digital wallet service Samsung Pay, following a similar integration with Google Pay in September.
Cryptocurrency
▌Bitcoin Magazine report: Bitcoin is expected to see parabolic growth in the fourth quarter of 2024
According to a Bitcoin report released by Bitcoin Magazine, Bitcoin is expected to experience parabolic growth in the fourth quarter of 2024.
▌Peter Todd denies being Satoshi Nakamoto, the creator of Bitcoin
Former Bitcoin Core developer Peter Todd has denied being the creator of Bitcoin, Satoshi Nakamoto, ahead of HBO’s upcoming documentary about the cryptocurrency. In an interview, Peter Todd said the allegations made by documentary producer Cullen Hoback are baseless.
Coinbase will launch io․net (IO)
According to Coinbase Assets’ announcement on the X platform, Coinbase will add support for io.net (IO) on the Solana network (SPL Token), and trading will begin on or after 9:00 a.m. Pacific Time on October 9, 2024, if liquidity conditions are met. Once sufficient asset supply is established, the IO-USD trading pair will be launched in phases, but support for IO may be limited in some supported jurisdictions. Coinbase reminds users not to send related assets through other networks, otherwise funds may be lost.
Important economic developments
▌Fed's Bostic: The labor market has slowed down, but it does not appear weak or vulnerable
Fed's Bostic said that the labor market has slowed down but does not appear weak or soft; the economy is close to the Fed's target and "is getting closer"; the inflation rate is still well above 2%; the risk of an overly strong economy could hinder policy readjustment; and the focus will continue to be on inflation targets while also paying attention to job market conditions.
▌The probability of the Federal Reserve cutting interest rates by 25BP in November is 86.7%, and the probability of not cutting interest rates is 13.3%
According to CME's "Fed Watch", the probability of the Fed cutting interest rates by 25 basis points by November is 86.7%, and the probability of maintaining the current interest rate is 13.3%. The probability of a cumulative rate cut of 50 basis points by December is 78.1%, the probability of a cumulative rate cut of 75 basis points is 10.1%, and the probability of a cumulative rate cut of 100 basis points is 0%.
▌Fed Collins: US inflation is expected to fall to 2% as the job market remains healthy
Collins of the Federal Reserve said that he is increasingly confident that the inflation rate will return to 2% in a timely manner; it is expected that the US inflation rate will fall to 2% against the backdrop of a healthy job market; current data show that the US job market is generally healthy; as far as rate cuts are concerned, a cautious, data-based approach is appropriate; the focus needs to be on maintaining the good shape of the US economy; there is a risk that the US economy will decline more than necessary.
▌The three major U.S. stock indexes closed higher
The three major U.S. stock indexes closed higher, with the Dow Jones Industrial Average up 0.3%, the Nasdaq up 1.45%, and the S&P 500 up 0.97%. Large technology stocks generally rose, with Nvidia up more than 4%, and Apple, Microsoft, Tesla, Meta, and Amazon up more than 1%.
▌Bridgewater Fund founder Dalio does not think the Fed will "substantially" cut interest rates
Billionaire investor Ray Dalio doesn't think the Federal Reserve will make another big cut to its benchmark interest rate after cutting it by half a percentage point last month. "The economy is in a relatively good balance right now," Dalio said. The Fed cut rates last month for the first time in four years, but a strong jobs report later opened up room for policymakers to slow down their pace. Dalio also talked about the policies of U.S. presidential candidates Trump and Harris and expressed concerns about the bond market. Dalio pointed out that the supply and demand in the U.S. bond market is in an unusual state. U.S. bonds account for a large proportion of institutional investors' portfolios, and there is a sense of overweight. Geopolitical uncertainty is also one of the problems facing the U.S. bond market.
Golden Encyclopedia
What are Rollups?
Rollup is a way to process transactions on a Layer 2 protocol, freeing up valuable space on the base layer. Rollup folds transactions one by one on the second layer, sometimes dozens of times, and then rolls them together before sending the data back to Layer 1. There are two main types of Rollup, optimistic and zero-knowledge (ZK) proofs.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.
