Headline
▌Citigroup Terminates Personal Banking Services for Ripple CEO Garlinghouse
Ripple CEO Brad Garlinghouse stated in Washington that Citigroup terminated his personal banking services due to his prominence in the cryptocurrency field, describing it as a "de-banking" trend. He criticized the Biden administration's regulatory policies, believing the industry faces immense pressure, but remains optimistic about future cryptocurrency policies, anticipating a "reset." He advised cryptocurrency startups to register outside the US to avoid regulatory uncertainty.
▌Buffett: Will Not Endorse Any US Political Candidate
Warren Buffett, just two weeks before American citizens go to the polls to elect the next president, stated that he will not support any political candidates. The 94-year-old billionaire posted a statement on the Berkshire Hathaway website, aiming to put an end to rumors about Buffett endorsing political candidates and investment products. "Given the increasing use of social media, fraudulent claims about Mr. Buffett's endorsement of investment products and political candidates have been proliferating," the statement read, "Mr. Buffett will not prospectively endorse any investment products nor will he endorse political candidates, now or in the future." Buffett has previously supported Democratic candidates, endorsing Hillary Clinton against Donald Trump in the 2016 election.
Market
As of the time of writing, according to Coingecko data:
BTC's latest trading price is $66,621.18, with a daily change of -1.0%;
ETH's latest trading price is $2,520.81, with a daily change of -3.7%;
BNB's latest trading price is $584.10, with a daily change of -1.5%;
SOL's latest trading price is $170.96, with a daily change of +2.2%;
Doge's latest trading price is $0.14, with a daily change of +0.4%;
XRP's latest trading price is $0.5252, with a daily change of -1.4%.
Policy
▌Former White House Chief of Staff: Crypto is an Industry That "Breaks the American Political Mold", Appealing to Both Parties
Mick Mulvaney, former acting White House Chief of Staff, stated that cryptocurrency is an industry that "breaks the American political mold" because it appeals to both the Democratic and Republican parties.
In an interview with News Nation, Mick Mulvaney said that cryptocurrency "doesn't fit the traditional political barriers of Republican and Democrat," crossing political boundaries. Mick implied that this is part of the "process of lawmakers readjusting their interests to accommodate the new industry." As interest groups pour large sums of money into congressional candidates, the impact of cryptocurrency in the 2024 election cycle and "the next few" election cycles will be "profound."
▌Musk's PAC Receives Warning from US Justice Department
A CNN reporter stated on social media that the US Justice Department has sent a letter to Elon Musk's super PAC, warning that its $1 million daily donations may violate federal law.
Blockchain Applications
▌Blockchain Key Management Platform Cubist Launches Cross-Chain Bridge Security System Bascule
Cubist, a blockchain key management platform led by applied cryptography expert and Carnegie Mellon University computer engineering professor Riad Wahby, announced the launch of a new cross-chain bridge security system called Bascule. According to the team, "Bascule will effectively prevent real-time staking hacks and eliminate custodial risk in staking projects."
▌Internet Infrastructure Company D3 Global Establishes Strategic Partnership with Identity Digital
Internet infrastructure company D3 Global has established a strategic registrar partnership with Identity Digital, a leader in connecting the online world with domain names and related technologies. This collaboration aims to mark new domains on the Domain Name System (DNS) for billions of users, enabling interoperability between Web2 and Web3. D3 will also launch two new initiatives to expand the ecosystem, the D3 Developer Program and the D3 Proof of Ownership Protocol, supporting efforts to connect Web2 and Web3 systems.
▌a16z Invests in Automated Healthcare Call and Data Collection AI Platform Infinitus
a16z announced that it led the Series C funding round of Infinitus, an AI platform for automating healthcare calls and data collection, with the investment amount undisclosed.
a16z stated that Infinitus' specialized AI platform for automating healthcare calls and data collection will accelerate patient access to care while reducing expensive employee turnover and improving data collection quality. Infinitus' AI agents handle end-to-end phone calls on behalf of healthcare providers, fully automating tasks such as continuous hour-long benefit verifications for callers and real-time updating of patient records.
Cryptocurrencies
▌Tesla's BTC Holdings Remain Unchanged in Q3 2024
Tesla's BTC holdings remained unchanged in the third quarter of 2024. Tesla's Q3 revenue was $25.18 billion, compared to the analyst estimate of $25.43 billion and $23.35 billion in the same period last year. The third-quarter net profit was $2.167 billion, compared to the market expectation of $1.78 billion and $1.853 billion in the same period last year.
▌Ripple CEO: Crypto Industry Likely to "Reset" Regardless of Who Wins US Election
Ripple CEO Brad Garlinghouse stated that the cryptocurrency industry will experience a "reset" regardless of the outcome of the upcoming US election. He said, "We'll see progress going forward, and I'm very excited about that. Kamala Harris comes from Silicon Valley, and for many years, she's been supportive of tech, though she's been relatively quiet on crypto topics. And Trump was very early in embracing crypto and calling himself the 'Crypto President.'"
In August, Ripple co-founder Chris Larsen donated $1 million in cryptocurrency to a political action committee supporting Harris. Garlinghouse said he has also donated to candidates who support cryptocurrency.
▌El Salvador President Nayib Bukele Donates 2 BTC to Help Honduras Raise Funds for 1,000 Schools
According to Bitcoin Magazine, El Salvador President Nayib Bukele donated 2 BTC, worth $133,000, to help Honduras raise funds to build 1,000 schools.
▌ZachXBT: Solana Meme Project SHAR Involved in Conspiracy Group and KOL Manipulation
On-chain detective ZachXBT published a post alleging that the Solana meme project SHAR is involved in a conspiracy group and KOL manipulation, citing a leaked message from a promotion platform that the project claimed to have 50 "Tier 1" KOLs on board.
▌Satflow Launches DEX for Professionals Focused on Ordinals and Runes Ecosystem
Bitcoin infrastructure project Satflow has launched a DEX for professional traders focused on the Ordinals and Runes ecosystems, positioning it as a low-cost alternative to the NFT marketplace Magic Eden, with an initial fee of 0%. The new DEX aims to eliminate mempool front-running behavior, where users exploit the time difference between submitting a transaction and it being added to a Bitcoin block.
▌Report: 59% of US Bankers Expect Harris to Win Election
Arizent, the publisher of American Banker, collected survey data from 191 US banking professionals, and among the total 191 respondents, 59% said that Democratic frontrunner Kamala Harris is most likely to win the election. About 41% of the surveyed bankers believe that former President Donald Trump will be the victor in November.
Despite this, 58% of the surveyed bankers believe that the Trump administration is more favorable to the industry and individual companies, while 35% believe that Harris is more favorable to the banking industry. The same views were found in a similar question about which election result would bring the best outcome for regulatory and policy affairs as well as the entire country.
Important Economic Dynamics
▌The probability of the Fed cutting rates by 25BP in November is 93%
According to the CME "Fed Watch", the probability of the Fed cutting 25 basis points in November is 93%, the probability of keeping the current rate unchanged is 7%, and the probability of cutting 50 basis points is 0%. By December, the probability of keeping the current rate unchanged is 2.1%, the probability of a cumulative 25 basis point cut is 32.6%, the probability of a cumulative 50 basis point cut is 65.4%, and the probability of a cumulative 75 basis point cut is 0%.
▌Analyst: The Bank of Canada may still cut rates by 50 basis points again in December
Phil Mesman, an analyst at Picton Mahoney Asset Management, said that a further 50 basis point rate cut by the Bank of Canada looks like an insurance cut, as the central bank is now acting because it expects inflation to be low and hopes for stronger economic growth. The portfolio manager said that while the Bank of Canada still relies on data, it may still cut rates by another 50 basis points in December if inflation and economic growth are in line with or lower than the central bank's revised forecasts.
▌Survey: Analysts expect the Bank of Japan not to raise rates in October
Most economists surveyed by the media expect the Bank of Japan to keep its benchmark rate unchanged next week, and then raise rates in December or January. The survey shows that almost all 53 Bank of Japan watchers expect the Bank of Japan to stand pat on October 31. About 53% expect the Bank of Japan to raise rates in December, which is the most popular timing. The proportion expecting a rate hike in January has jumped from 19% to 32%, while the expectation of a hike this month has declined.
Golden Encyclopedia
Dynamic resharding is a relatively new term, with the marketing team of the NEAR Protocol calling it the "holy grail of sharding", but it has also created a new vocabulary that is not immediately understandable. Based on the concept of blockchain sharding, dynamic resharding occurs when the network adjusts the number of shards based on the load. Overloaded shards can be split into two shards, while two underutilized shards can be merged into one.
Disclaimer: Jinse Finance, as a Bit and Block information platform, the articles published are for information reference only and do not constitute actual investment advice. Please everyone establish the correct investment concept, and must improve risk awareness.
