Market Performance
- Bitcoin: -0.97% → 122,100
- Ethereum: -1.85% → 4,444
- Bitcoin Spot ETF: +441 million USD
- Ethereum Spot ETF: +69 million USD
- Dow +0.00%
- Nasdaq +1.12%,
- S&P 500 +0.58%
- Russell 2000 +1.04%
- 2Y US Treasury Yield: +1.66 bp → 3.5802%
- 10Y US Treasury Yield: -0.20 bp → 4.121%
- DXY: +0.27% → 98.849
- VIX: -5.54% → 16.30
- Brent Crude Oil: +0.96% → 66.08
- LBMA Gold: +1.41% → 4,040.42
Fed Minutes Reveal Disagreements Over Interest Rate Cut Expectations
The minutes of the US Federal Reserve’s September meeting have been released. The documents reveal significant disagreements among Fed members over interest rate cuts. While more than half of the participants expect two more rate cuts this year, seven members argued that no further cuts are needed this year. They emphasized that inflation remains high and there is no significant weakening in the labor market. According to CME data, the probability of a 25-basis-point rate cut in October is priced at 94.1%.
Strong Demand in US 10-Year Treasury Auction, Weakened Foreign Participation
The US Treasury Department held a $39 billion 10-year Treasury auction. The winning interest rate came in lower than expected at 4.117%. While the bid-to-cover ratio remained at 2.48, foreign investor demand declined. In contrast, the share of domestic investors rose to 24.1%. This result shows that confidence in bonds in the US domestic market remains intact, but foreign interest has declined.
Senate Rejects Temporary Funding Bill for Sixth Time
The US Senate rejected a temporary funding bill that would have reopened the government for the sixth time on October 8. The vote failed to reach 60 votes, with 54 “yes” and 45 “no” votes. Republican senators argued that the government should resume operations before a new bill is considered. As the shutdown enters its second week, federal employees continue to face the risk of unpaid leave.
Russian Deputy Foreign Minister Ryabkov: US-Russia Summit Momentum Lost
Russian Deputy Foreign Minister Sergey Ryabkov said the diplomatic momentum generated after the US-Russia summit in Alaska has largely been lost. Ryabkov stated that the situation would change fundamentally if the West supplied “Tomahawk” missiles to Ukraine. According to Ryabkov, the “destructive actions” of European countries are undermining hopes for progress in bilateral relations. Solana Treasury Company Helius Executive Chairman: Will go public in Hong Kong, aiming to buy at least 5% of SOL
CZ Issues BNB Meme Season Risk Warning: Overlapping with Tweets Does Not Endorse
Binance founder CZ (Changpeng Zhao) retweeted, stating that his tweets do not actively avoid meme content, and any overlap with memes is coincidental and not an endorsement. Yazan also reminded users participating in the “BNBmeme Season” that allocating tokens to the CZ wallet does not reduce the risk of zeroing out, and meme coins remain high-risk assets.
The UK plans to establish a “Digital Markets Supervisor” to promote the onlineization of wholesale financial markets
According to Bloomberg, the UK Treasury will establish a “Digital Markets Champion” to oversee the digitization (tokenization) of wholesale financial market asset issuance, trading, and settlement using blockchain. Lucy Rigby, the Treasury’s Economic Secretary, announced the establishment of a “Dematerialization Market Action Taskforce” to oversee the transition from paper-based equity certificates to electronic ones. The government has also released its “Wholesale Financial Markets Digital Strategy” to promote the adoption of blockchain and artificial intelligence, and has launched a “Digital Gilt” (DIGIT) tender, inviting technology providers to participate in the issuance of UK government bonds on a blockchain.
Monad posts hint at token airdrop
Monad posted an airdrop announcement on its official X account: “Airdrop claims loading (98% complete).” Previously, Monad had stated that it might launch its mainnet this year.
IMF chief: Fed may need to cut rates further
According to Jinshi.com, IMF Managing Director Kristalina Georgieva indicated that the Federal Reserve may need to cut interest rates further. The US dollar index (DXY) reportedly reached 99, the first time since early August, up 0.42% on the day.
Ethena and Jupiter Partner to Launch JupUSD, Solana’s Native Stablecoin
According to The Block, Ethena announced a partnership with Jupiter to launch Solana’s native stablecoin JupUSD. The token is scheduled to be launched in the fourth quarter. As part of the agreement, Jupiter plans to “gradually convert” approximately $750 million in USDC in its liquidity provider pool into JupUSD.
Ethereum Foundation forms Privacy Cluster team to strengthen on-chain privacy
The Ethereum Foundation announced the formation of the Privacy Cluster, a team of 47 researchers, engineers, and cryptographers coordinated by Igor Barinov, founder of Blockscout and xDai. In a blog post published on Wednesday, the Foundation stated that it is collaborating with the broader community to establish privacy as a “first-class feature” of Ethereum and is completing existing privacy projects.
US Congressman: Despite the US government shutdown, the crypto market structure bill is moving forward as planned
Representative Bryan Steil (Wisconsin, USA), one of the first co-sponsors of the House Crypto Market Structure Bill CLARITY, said that despite the government shutdown, Republicans plan to pass the bill before 2026.
Sui TVL surpassed $2.5 billion, reaching an all-time high
According to DefiLlama data, $Sui TVL surpassed $2.5 billion, reaching an all-time high, and is currently reported at $2.642 billion, with a 12.82% increase over the last 7 days.
CZ Issues BNB Meme Season Risk Warning
Binance founder CZ (Changpeng Zhao) stated in a post on the X platform that the overlap of his tweets with meme content was coincidental and did not imply any investment endorsement. He also warned users participating in the “BNBmeme Season” that sending their tokens to CZ’s wallet would not reduce the risk. CZ reminded that meme coins are still high-risk assets.
UK to Establish “Digital Markets Champion” for Digitalization of Financial Markets
According to a Bloomberg report, the UK Treasury will create a “Digital Markets Champion” to oversee the digitalization (tokenization) process in financial markets. The new structure will oversee the blockchain-based transition in asset issuance, trading, and settlement processes. In addition, a task force called the “Dematerialization Market Action Taskforce” will be established to manage the transition of paper-based share certificates to electronic form. The government published its “Wholesale Financial Markets Digital Strategy” plan, accelerating blockchain and artificial intelligence integration and launching the “Digital Gilt (DIGIT)” auction to issue government bonds on the blockchain.
Monad Token Hints at Airdrop
Monad strengthened the community’s expectations for an airdrop by posting “Airdrop claims loading (98% complete)” on its official X account. The project had previously stated that the main network could be launched this year.
IMF President Georgieva: Fed May Need to Cut Interest Rates Further
IMF President Kristalina Georgieva said the Fed may need to cut interest rates further under current economic conditions. Following the announcement, the US Dollar Index (DXY) rose to 99, surpassing this threshold for the first time since early August.
Solana’s Native Stablecoin JupUSD Coming via Ethena and Jupiter Partnership
According to The Block, Ethena announced Solana’s native stablecoin, JupUSD, in partnership with Jupiter. The token is scheduled to launch in the fourth quarter of 2025. Jupiter aims to gradually convert approximately $750 million in USDC in its liquidity pool to JupUSD.
Ethereum Foundation Establishes “Privacy Set” Team
The Ethereum Foundation has established a research team called “Privacy Set” to strengthen on-chain privacy. Coordinated by Igor Barinov (founder of Blockscout and xDai), the team includes 47 researchers and cryptographers. The Foundation stated that this initiative aims to solidify privacy as a “first-class feature” of Ethereum.
US Congressman Steil: Crypto Market Structure Act Progressing as Planned
U.S. Representative Bryan Steil said that despite the government shutdown, work on the Crypto Market Structure Act (CLARITY Act) is planned to be completed before 2026. Steil stated that the bill aims to increase regulatory clarity in digital asset markets.
Sui TVL Reaches All-Time High
According to DeFiLlama data, the total value locked (TVL) on the Sui network rose to $2.64 billion, reaching an all-time high. The increase over the last 7 days was recorded at 12.82%.
