according to an analysis by the Hong Kong Economic Daily, Bitcoin recently broke through and is expected to reach a historic high in speculation about the potential results of the US election. The correlation between the price of Bitcoin and the inflow of funds is expected to further increase, and liquidity will become an increasingly important price driver. Last week, global funds poured into the US market's Bitcoin spot trading fund, betting on Trump's victory in the US election, and his support for Bitcoin was seen as a "Trump trade". The market expects the size of the US Bitcoin ETF to double by 2025 and quadruple by 2027. As for Hong Kong investment options involving Bitcoin, we will have to wait and see.

the Victoria Police Department in Australia has successfully seized cryptocurrency worth $142,679 for the first time after recent legal amendments allowed police to control digital assets. On October 31, the Victoria Police Department released its annual report for 2023-2024, highlighting the newly authorized "power" after adding "Section 92A to seize digital assets under a search warrant" in the "1997 Confiscation Act". Since August 1, 2023, the legal amendment has authorized Victoria police to seize cryptocurrency held by criminals through search warrants.

According to Farside Investors data, this week's cumulative net inflow of US Bitcoin spot ETF was 2.2202 billion US dollars, of which: BlackRock IBIT: +2.1489 billion US dollars; Fidelity FBTC: +89.8 million US dollars.

blockchain solar company Glow has completed a $30 million financing round, led by Framework and Union Square Ventures. The CEO and co-founder of Glow stated that Vorick plans to use this funding to expand the company from 5 megawatts of power to 600 megawatts in the next 18 months and expand to new countries. Glow operates a DePIN network consisting of solar power plants in the United States and India. To encourage farms on its network to surpass the "dirty" energy grid, the founder designed an overall economy based on subsidy and token incentive models.

cryptocurrency analyst PlanB stated on social media, "Bitcoin's October closing price was $70,231, slightly lower than March's monthly closing price of $71,285. Be prepared for the US election."

Lookonchain monitoring shows that the whale "BetTom42" withdrew 2.4 million USDC from Kraken today to bet on Trump winning the US election. In the past three days, this whale has spent $3.4 million betting on Trump winning the US election.

according to official sources, Paxos announced that it is expected to release the first attestation report for the Singapore compliant stablecoin USDG, which is launched in partnership with DBS Bank, this month (November 2024). Paxos stated that the attestation report is expected to be issued by the independent third-party accounting firm Enrome LLP, and the review will be conducted in accordance with the standards set by the Institute of Singapore Chartered Accountants. It is reported that Paxos will subsequently release proof reports every month, aiming to establish community trust and ensure complete transparency and reliability of financial data.

 according to CoinDesk, UK-based cryptocurrency exchange Archax has acquired Spanish brokerage firm King & Shaxson Capital Markets to expand its European business. The completion of the transaction currently requires approval from the Spanish regulatory authorities. The transaction value has not been disclosed. This acquisition will enable the company, registered with the Financial Conduct Authority (FCA), to expand its existing brokerage business, multilateral trading facility (MTF), and custody services to Europe, while adding crypto derivatives to its license.

According to data disclosed by IntoTheBlock on the X platform, the locked amount of the RWA protocol has accounted for 3.69% of the total lock-up volume in DeFi, while this number was only 1.77% in July this year.

Paul Grewal, Chief Legal Officer of Coinbase, accused the Federal Deposit Insurance Corporation (FDIC) of taking secret actions to suppress the cryptocurrency industry. Grewal claimed that documents obtained through the Freedom of Information Act showed a series of so-called suspension letters. Allegedly, in these letters, the FDIC instructed banks to delay or stop providing services to cryptocurrency companies. He described these letters as "shameful examples of US government agencies trying to cut off the financial channels of law-abiding American companies" and pointed out that the FDIC unfairly targeted legitimate cryptocurrency companies, restricting their access to banking services. Documents shared by Coinbase showed that FDIC officials urged banks to avoid launching or expanding cryptocurrency-related services due to concerns about security, stability, and potential consumer risks. In each case, the FDIC requested that banks wait until further review was completed - a process that Coinbase believes sets unfair barriers for cryptocurrency companies.

Bybit Powered by SATOS has acknowledged the fine of EUR 2,250,000 imposed by De Nederlandsche Bank (DNB) for providing services without registration between October 2, 2020, and September 15, 2023. Bybit has respected the decision and began its remediation efforts as early as 2022 by transferring its customers in the Netherlands to SATOS B.V. Since September 2023, Bybit has been operating under Bybit Powered by SATOS, leveraging SATOS's Virtual Asset Service Provider (VASP) license accredited by the DNB. Bybit's partnership with SATOS further underlines its commitment to trustworthy, innovative solutions made in full compliance with the regulatory framework set out by DNB.

WazirX has issued an important announcement regarding the next steps for Indian rupee and cryptocurrency withdrawals. For cryptocurrency balances, users will not be able to withdraw cryptocurrency from their platform accounts for a period of time due to network attacks and a large amount of balance loss caused by ERC-20 token theft. WazirX does not have enough token assets to repay the debt generated by the platform users' owed token balances. Subsequently, a bankruptcy restructuring application will be submitted to the Singapore High Court in order to obtain fair distribution of cryptocurrency assets according to the bankruptcy plan and user approval.For Indian rupee balances, WazirX will lift the suspension on INR balance withdrawals on August 26, 2024, and will gradually enable INR withdrawal functions. WazirX will reduce the withdrawal fee by 60%, from 25 rupees to 10 rupees.

Analyst Anna Wong said that in our opinion, Powell's statement sounded quite dovish. So far, he has not stopped the bet on a 50 basis point rate cut in September, has not indicated that rate cuts should be gradual, and has not used the phrase "methodical" like his colleagues to describe possible rate cut paths.

According to an official announcement on August 23rd, Gate.io, as one of the official sponsors, once again focused global attention at the Coinfest Asia 2024 event. Mai Ngo, Gate.io's Southeast Asia representative, participated in the first panel discussion. She pointed out that Web3 is not only a technological advancement, but also a revolutionary change in the way brands interact with customers. She emphasized that the decentralized nature of Web3 provides brands with new interactive channels, allowing customers to participate and influence the direction of brand development. Mai Ngo also called on the industry to ensure the true decentralization of Web3, avoiding domination by big brands, and looked forward to the potential of AI technology in Web3, believing that AI will further enhance the interaction experience between brands and customers. She emphasized that brands need to use AI with caution to ensure that the technology application does not undermine the decentralization advocated by Web3.

Karl Schamotta, chief market strategist at forex company Corpay, said that the key sentence in Powell's speech was that they will "make every effort to support a strong labor market while making further progress in price stability." In my opinion, this does indicate that Powell acknowledges the increasing concerns of policymakers about the direction of the labor market. Powell did not mention the possibility of a 50 basis point rate cut in September, which to some extent also aligns with market expectations.

The Block's report on Sun Yuchen's withdrawal of BTC collateral from USDD, Sun Yuchen responded on Platform X: "USDD is a decentralized stablecoin protocol that has nothing to do with anyone's name, just like Satoshi Nakamoto created Bitcoin, but Bitcoin does not belong to Satoshi Nakamoto." Earlier, Tron DAO Reserve withdrew about $750 million worth of Bitcoin on Wednesday, which was previously used to support the USDD stablecoin. Tron founder Justin Sun said users don't need to worry and explained that this move was to improve capital efficiency, as the previous long-term collateralization rate for USDD exceeded 300%.

Federal Reserve Chairman Jerome Powell's announcement of rate cuts in the coming months has led to a rise in the price of Bitcoin, which briefly surpassed $62,000. Powell stated that the central bank is pleased with cooling inflation but is more attentive to growing weakness in the labor market. Ethereum and Solana also saw price increases of 2.7% and 2.1%, respectively. Traders are confident that the Fed will ease up in its inflation fight, with a 67% chance of a 0.25% rate cut in September according to CME Fedwatch. This is a developing story and will be updated with additional details.

Solana ecosystem trading aggregator Jupiter announced on X platform that Jupiter Lock, an open-source, free, and audited alternative solution, allows any project to gradually release its tokens for free over time. It has now entered the beta testing phase. On the locking page, you can browse the detailed breakdown of all tokens, their ownership schedule, recipients, and funding purposes. It brings certainty to holders and helps achieve consistency in long-term goals. The entire operation is transparent.

March, El Salvador has purchased 162 bitcoins and currently holds 5,851 BTC.

Harker of the Federal Reserve said that we need to start cutting interest rates. This process should continue to move forward.