Fed Board Member Waller: Interest Rate Cut Needed in December
- Fed Board Member Waller stated that he would advocate for an interest rate cut in December. He said that January of next year would be data-heavy and challenging, so the Fed would need to make decisions based on data at each meeting. He said that if the data shows a recovery, it may be possible to be more cautious, but he does not expect the labor market to change significantly in the short term. He added that September employment data may be revised downward and that the concentration of data is not a good sign.
Trump: All Benefits of Tariffs Not Yet Seen
Trump argued that although the revenues from tariffs are very high, the full effects have not yet been seen. He cited importers’ excessive stockpiling to avoid tariffs as the reason. He said that as stocks run out, tariffs will become inevitable and revenues will exceed historic highs. According to Trump, this tariff power will bring both national security and wealth to the US.
According to the CoinShares report, there was a net outflow of $1.94 billion from digital asset investment products last week. The four-week total outflow reached $4.92 billion, equivalent to 2.9% of AuM, marking the third-largest outflow since 2018.
Bitcoin led the outflows with $1.27 billion, followed by Ethereum with $589 million; however, both showed limited recovery inflows on Friday. Solana saw $156 million in outflows, while XRP diverged in the opposite direction with $89.3 million in inflows.
US Commerce Secretary Raimondo: New Measures Will Be Taken Quickly If Tariff Decision Is Overturned
US Commerce Secretary Raimondo said that if the court overturns the tariff decision, the government will quickly take new measures. This statement indicates that tariff policy is strongly linked not only to the legal basis but also to political will. It appears that the administration does not want a vacuum to form after a possible judicial intervention. Therefore, even if tariffs are canceled, similar economic protection tools are expected to be swiftly put into effect.
XRP and LINK Spot ETFs Expected This Week
Bloomberg analyst Eric Balchunas said he expects five spot crypto ETFs to be launched in the next six days. In addition to GDOG, XRP spot ETFs, Bitwise’s Dogecoin product, and Grayscale’s LINK spot ETF are on the list. Although the exact dates are not clear, the launch schedule appears to be quite tight. Balchunas also predicts that more than 100 crypto ETFs could be in the pipeline over the next six months.
Goldman Sachs: We Expect a Fed Rate Cut in December
Goldman Sachs economists expect the Fed to cut rates slightly above 3% in December. Jan Hatzius warned that the slowdown in the US economy could be greater than expected. Although nonfarm payrolls increased by 119,000 in September, rising layoffs reinforced the weakness. According to the bank, this picture supports the need for further rate cuts.
New Jersey Retirement Fund Increases Strategy Position to $16 Million
The New Jersey State Pension Fund increased its Strategy (MSTR) investments to $16 million. This move by the fund, which has approximately $95 billion in assets, shows continued interest in Bitcoin treasury companies on the institutional side. Pension funds preferring publicly traded instruments over direct crypto is seen as a more “comfortable” path in terms of regulation and risk management. Although this amount is small in the fund’s total portfolio, it is symbolically significant.
ECB Financial Stability Report: Stablecoin Risks Are Growing
According to the ECB report, the stablecoin market value has reached $280 billion and accounts for approximately 8% of the crypto market. The ECB warned that the rapid growth of stablecoins and their large positions in short-term US Treasuries could pose a risk to financial stability. It noted that peg loss, mass withdrawals, and cross-market shocks could be triggered, particularly by cross-border regulatory arbitrage. Therefore, the ECB recommends implementing the G20 stablecoin roadmap and strengthening global regulatory coordination.
US Senators Call on FTC and SEC to Act on Fake Ads on Meta
US senators are calling on the FTC and SEC to investigate fake ads spreading on the Meta platform. This situation shows that financial fraud committed via social media is now seen as a risk not only to consumer safety but also to the capital market order. Regulatory pressure is increasing, especially as fake investment-themed ads target both users and market confidence. If the investigation expands, stricter ad filters may be introduced on Meta’s side.
“The Bitcoin Crash Was Brutal Even by Crypto Standards”
The recent Bitcoin decline was surprisingly sharp in terms of speed and scale. While the systemic stress seen in previous major sell-offs was absent, the sharpness of the pullback was notable. This served as a stark reminder of how fragile the market is in terms of liquidity and sensitivity. In short, while volatility is normal for crypto, this time the decline came “unusually fast.”
Reuters: Bitcoin Mining Quietly Returns to China
According to Reuters, China has seen a resurgence in Bitcoin mining despite the 2021 ban. By the end of October, the country’s global mining share had risen to 14%, placing it in third place. It is noted that miners continue their activities in regions with low electricity costs, and energy-rich provinces are once again becoming centers of attraction. The increase in Canaan sales in China is also presented as an indicator confirming the return of demand.
Grayscale Launches First Spot Dogecoin ETF in the US
Grayscale launched the first spot Dogecoin ETF (GDOG) in the US. The fund’s management fee is set at 35 basis points, with no fees charged for the first $1 billion or the first three months. This launch marks the first entry of meme-coin-based products into institutional investment channels. It is seen as a development that strengthens expectations of institutional demand for Dogecoin.
BlackRock Transfers Another 900 BTC to Coinbase
According to Onchain Lens data, BlackRock transferred another 900 BTC, worth approximately $77.6 million, to Coinbase. With this transfer, BlackRock’s total BTC transfers today reached 3,722, while its ETH transfers reached 36,283. The market generally interprets such movements as ETF flows or a signal of institutional rebalancing. In other words, this step may not directly mean a sale, but it has the potential to increase supply-side pressure in the short term.
BitMine Purchased 28,625 ETH
According to Lookonchain data, BitMine purchased 28,625 ETH worth approximately $82.1 million. A purchase of this magnitude indicates continued institutional or treasury-related ETH accumulation. On the market side, such purchases are generally associated with long-term expectations and staking strategies. In the short term, however, it could have a tightening effect on supply.
US Debt Has Increased by $2.1 Trillion Since DOGE Was Created
It is reported that since the Government Efficiency Department (DOGE) was established, the official US debt has increased by $2.1 trillion. This equates to an increase of approximately $6.5 billion per day over 326 days. There were also previous reports that DOGE had been dissolved and was actually supposed to last until July 2026. The figures show a growing gap between fiscal discipline rhetoric and debt dynamics.
Circle Products Now on the Monad Network
Circle announced that its products, including USDC, CCTP, and Circle Wallets, have been integrated into the Monad network. This integration aims to strengthen cross-chain transfers and institutional developer infrastructure in line with Monad’s high-performance DeFi goals. Circle emphasized secure consensus and seamless interoperability. This move could be a significant catalyst for attracting liquidity to the Monad ecosystem.
Arthur Hayes: HYPE’s Exit Only Possible with Massive Revenue Growth
Arthur Hayes argued that the only way for the HYPE token to overcome uncertainty is to achieve large-scale revenue growth. He stated that the team’s “we won’t sell” type of statements are not binding, so one must assume there is selling pressure in the market every day. He emphasized that the market has already priced in this risk and that the P/FDV ratio has halved since the July peak. Hayes’ comment shows that the biggest concern for investors before the unlocking is a sustainable revenue model.
