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China will never overtake the US πŸ‘€

Analysts believe that the gap between the Chinese and American economies may narrow. But China is unlikely to ever come out on top.

A year ago, no one doubted that China would become the top 1 economy in the world, and they simply argued in which year this would happen.

Something went wrong... 😳
Hacking a casino and betting the Stake platform for $40 million 🀯

It is reported that, most likely, the platform was hacked for about $40 million, part of the money was in the ETH network, the remaining $25.6 million was stolen from the BSC and Polygon networks.

So far, there are confirmations only for ~$16 million. The scammer transferred the stolen funds into ETH and distributed them to 4 addresses.

The Stake platform is specialized in betting, casino and other gambling games.

The creators have not yet commented, perhaps this is a mistake, we are waiting for details.

It turns out that the casino does not always win ...
Remember FTX's native token called FTT? Today, its rate lags behind the historical maximum by almost 99 percent, moreover, the scenarios for using the token, taking into account the collapse of the trading platform, raise questions.

Despite all this, FTT trading on centralized exchanges continues. Moreover, weekly token trading volumes are measured in hundreds of millions of dollars.
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Billionaire Mark Cuban had $870,000 stolen from his MetaMask 😬

He said that he most likely downloaded a fake MetaMask application.

He transferred all remaining funds to the Coinbase exchange.

Be careful...
Currently, USDT's market share on the Binance cryptocurrency exchange is 77 percent, meaning Tether's stablecoin remains the most popular stable-value instrument among traders.

This is a 15-month high after the trading platform abolished zero commissions for transactions in the BTC-TUSD pair.
Bitcoin trading volumes on the Binance crypto exchange dropped by 48 percent in September. This is the second largest drop in the indicator since April. According to analysts, the reason for this was the abolition of zero commissions for the largest trading pairs with BTC.

The situation is unpleasant in any case.
The third quarter of 2023 (orange) turned out to be worse for Bitcoin and Ethereum compared to the second. The opposite situation is typical for tokens from the field of decentralized finance, which showed growth the day before.

But representatives of first- and second-level networks, along with tokens of decentralized exchanges, have been falling over the past two quarters, although the third was still more successful for them.
Paper losses of American banks on bonds amount to $400 billion πŸ‘†

The S&P 500 continues to grow after Fed representatives announced plans to leave the rate unchanged (at the meeting on November 1).

Given the potential losses banks are facing, the regulator needs to either print dollars to provide liquidity, or stop raising rates and give them a chance to wait until the bonds mature.

Also adding positivity to the markets is the US inflation forecast for September of 3.6% (in August it was 3.7%), that is, analysts expect a cooling in price growth.

We will find out the exact inflation data on October 12, and the reporting season will begin the next day - with top banks JPMorgan, Wells Fargo and Citigroup 🧐
With current US government spending, the national debt to GDP ratio will reach 200% by 2050 πŸ‘€

The current value is 129% and this is already more than after WWII...
At night, Bitcoin rose above $35k, showing an increase of 18%. Now the price is looking for a sure pullback, and the bears are shedding bitter tears due to liquidations of $297 million πŸ₯Ή

At first, the price was driven up by the news that the court had made a final decision on the need for the SEC to reconsider the application for a spot Bitcoin ETF from Grayscale. Please note that considering and accepting again are two different things 🧐

When this seemed not enough, the story began to spread about BlackRock receiving a ticker symbol for its ETF - IBTC, as well as rumors about the possibility of early fundraising for the fund. It was presented as if the ETF had already been approved and BlackRock was already purchasing BTC into it. In fact, this data does not mean anything like that and is just speculation, but was taken from an updated application for ETFs, which was corrected at the end of last week, but was carefully read only last night πŸ˜‡

Intrigue of the week: will they now shave longs 😜

πŸ”Ή Top 3 in 24 hours:
Mina - $0.6181 (↑50.57%)
Pepe - $0.000000953 (↑26.32%)
Conflux - $0.1323 (↑19.39%)