Analysis: A surge in stablecoin and Bitcoin trading could provide a basis for BTC to rise in the coming weeks.
Data from CryptoQuant shows that stablecoin liquidity continued to grow to a record $169 billion at the end of September, up 31% year-to-date. Dominant remains Tether’s USDT, which increased its market cap by $28 billion to nearly $120 billion, donating 71% of the market; and Circle’s USDC, which increased its market cap by $11 billion to $36 billion at the start of the year. It has grown by 44% so far and donated 21% of the market contribution.
A record number of USD stablecoins and a surge in large-volume Bitcoin trades could set the stage for a broader rise in BTC in the coming weeks, keeping the asset’s October uptrend intact.😎🥳

US SEC Chairman: Cryptocurrencies are unlikely to become mainstream currencies
U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler said at an event at New York University Law School that Bitcoin and other cryptocurrencies are unlikely to be widely used as a means of payment and are more likely to continue to serve as stores of value. He pointed out that there is a lot of fraud in the encryption industry, and many industry leaders have been jailed or awaiting extradition in 2024. Gensler stressed that the regulatory framework does not require additional expansion and that the existing Hovey test is sufficient to assess the legality of investment contracts. He pointed out that the investing public needs transparent information disclosure to judge the actual value of cryptocurrencies. Gensler also mentioned that the financial industry needs strong enforcement actions to curb violations.

Standard Chartered: Solana could soar 400% under Trump presidency
Standard Chartered predicts a potential surge for Solana if Donald Trump wins the 2024 U.S. presidential election. The bank’s head of digital assets, Geoffrey Kendrick, expressed an optimistic outlook for Solana in a research note this week, predicting that the cryptocurrency could grow by 400%.

Grayscale discloses list of crypto assets to be considered for inclusion in future investment products
Asset management company Grayscale disclosed a list of crypto assets to be considered for inclusion in future Grayscale investment products. This disclosure covers 35 crypto assets. Grayscale updates this list within 15 days of the end of each quarter, and as the crypto ecosystem expands, the Grayscale team reviews or re-evaluates other assets.
Assets currently being considered for inclusion include: AERO, AKT, APT, AR, ARB, ATOM, CELO, CORE, DOGE, ENA, FET, HNT, ICP, IMX, INJ, JUP, KAS, MNT, METIS, NEON, OM, ONDO , OP, PENDLE, POL, PYTH, RUNE, SEI, STRK, TIA, TON, TRX, UMA, VET, WLD.

The probability that the Fed will cut interest rates by 25bp in November is 95.6%, and the probability of not cutting interest rates is 4.4%
According to CME's "Fed Watch": the probability that the Fed will cut by 25 basis points by November is 95.6%, and the probability of keeping the current interest rate unchanged is 4.4%. The probability of a cumulative 25 basis point interest rate cut by December is 15.4%, the probability of a cumulative 50 basis point interest rate cut is 84.1%, the probability of a cumulative 75 basis point interest rate cut is 0%, and the probability of a cumulative 100 basis point interest rate cut is 0%.

Cyber ​​Nation’s Project Praxis Raises $525 Million to Build Cryptocurrency-Friendly Cities
Praxis, a project that bills itself as the world's first "cyberstate", announced on Tuesday that it has secured $525 million in funding to build a tech-forward city that will support the development of crypto, artificial intelligence, energy and biotechnology.
According to the announcement, participating investors in this financing include Arch Lending, GEM Digital, Manifold Trading, etc., and new angel investors include Dan Romero (CEO of Farcaster), Tom Schmidt (General Partner of Dragonfly), Rob Hadick (General Partner of Dragonfly people) etc.

Trump: If re-elected as President of the United States on November 5, I will significantly lower U.S. interest rates
According to Bloomberg, former U.S. President and Republican presidential candidate Donald Trump reiterated that if re-elected on November 5, he would significantly lower U.S. interest rates, but did not elaborate on any policy measures.
The remarks were made in response to questions about housing affordability from the audience at a town hall event in Lancaster, Pennsylvania.
"We need to significantly lower interest rates. There is one more thing to make the economy better - interest rates. It is impossible to lend money now." He said.

Animoca Brands wallet deposited 1 million SAND to Binance 1 hour ago, and a total of 25 million SAND was deposited in the past month
According to monitoring by The Data Nerd, an hour ago, a wallet (belonging to Animoca Brands) deposited 1 million SAND (approximately $807,000) to Binance.
The wallet has deposited a total of 25 million SAND (approximately $8.65 million) to Binance in the past month.

Binance tries to enter the US market
According to people familiar with the matter, Binance began to actively contact the Trump family last year, hoping to conclude a deal with the Trump family and re-enter the US market.

It is not clear in what form the Trump family will hold shares in Binance US. One possible way is that the Trump family holds shares directly, and another is through World Liberty Financial, which was established in September last year.

After Zhao Changpeng was convicted, he still seeks a comeback in Binance US

Recall that Binance agreed to pay a sky-high fine of US$4.3 billion in 2023 to resolve allegations of violations by US regulators. At that time, Zhao Changpeng was forced to resign as CEO, but still retained a majority stake.

For Binance, if Zhao Changpeng can obtain a pardon from the Trump administration, it may improve Binance US's business development in the international market.