1. CME Data Shows 97.3% Probability of Fed Rate Cut in October
According to CME's "FedWatch" tool, there is a 97.3% probability that the Federal Reserve will cut rates by 25 basis points at its October meeting, while the probability of maintaining current rates is only 2.7%. Looking ahead to the December meeting, the probability of keeping rates unchanged drops to 0.1%, the probability of a cumulative 25 basis point cut is 6.4%, and the probability of a cumulative 50 basis point cut rises significantly to 93.5%. -Original
2. Powell Hints at Possible 25 Basis Point Rate Cut by End of Month
Peter Cardillo, Chief Economist at Spartan Capital Securities, stated that Federal Reserve Chairman Powell has not changed his tone, suggesting a possible 25 basis point rate cut by the end of the month, with subsequent actions to be assessed based on economic conditions. If the labor market continues to weaken, there is a possibility of a 50 basis point rate cut in December. Powell is preparing the market for rate cut expectations but emphasized that a rate cut is not inevitable. -Original
3. Japan to Introduce New Regulations Banning Cryptocurrency Insider Trading
Japan will introduce new regulations to ban insider trading in cryptocurrencies. -Original
4. U.S. Government Plans to Seize 127,271 Bitcoins Involved in International Fraud Case
The U.S. government plans to seize 127,271 bitcoins, worth approximately $1.2 billion, assets related to an international fraud case involving Chinese national Chen Zhi. -Original
5. U.S. Republican Party Proposes Allowing 401k Investments in Bitcoin
The U.S. Republican Party has introduced a new bill proposing to allow bitcoin and cryptocurrencies to be included in 401k retirement savings plans under federal law. Currently, total savings in U.S. 401k accounts exceed $9 trillion. -Original
6. Stripe Subsidiary Applies for U.S. Bank Trust License to Promote Stablecoin Development
According to reports, Stripe's stablecoin subsidiary Bridge is applying to the U.S. Office of the Comptroller of the Currency for a national bank trust license. If approved, Bridge will provide stablecoin issuance, management, and custody services under the "GENIUS Act" framework. Co-founder Zach Abrams stated that this move will promote the development of asset tokenization. Since being acquired by Stripe, Bridge has launched the Open Issuance platform and the payment-optimized blockchain Tempo, and has partnered with Coinbase and Shopify to support USDC payments. -Original
7. Binance Co-founder Announces User Relief Plan, Launches Token Voucher Program
On October 15, Binance co-founder He Yi stated that she hopes to help users who suffered losses due to sharp token price drops restart through a relief plan. She emphasized that Binance always adheres to "actions speak louder than words." Despite external doubts about the relief fund, user interests will remain the top priority. Previously, Binance announced the issuance of token vouchers to users who were liquidated, in support of industry recovery. -Original
8. Ethereum Fusaka Upgrade Completes Testing, Mainnet Rehearsal Scheduled for October 28
The Ethereum development team successfully deployed the second test of the Fusaka upgrade on the Sepolia testnet on Tuesday, following initial trials on the Holesky testnet. According to the plan, Fusaka will have its final rehearsal on the Hoodi testnet on October 28, after which developers will determine the mainnet activation date. This upgrade introduces the PeerDAS data validation method, allowing validators to process only a portion of the data, significantly reducing bandwidth requirements. It also optimizes cost structures for institutional users and Layer2 networks, bringing more efficient solutions to the Ethereum ecosystem. -Original
