Trump: Comprehensive Agreement Reached in US-China Talks
US President Donald Trump announced that his meeting with Chinese President Xi Jinping was “very productive” and that agreement had been reached on many strategic issues. China will resume purchasing soybeans, sorghum, and other agricultural products from the US, and will also expand its exports of rare earth elements. The parties will also cooperate on preventing the flow of fentanyl and increasing energy trade.
Bessent: Fed Acting Based on Outdated Models
US Treasury Secretary Scott Bessent said he supported the Fed’s decision to cut interest rates but that the institution was “stuck in the past.” Bessent said current inflation forecasts have failed and the Fed’s forecasting models no longer work. He also announced that second interviews for Fed chair candidates to replace Powell will be held in early December and that Trump could announce the new chair before Christmas.
ECB Keeps Interest Rates Unchanged
The European Central Bank (ECB) left its deposit rate unchanged at 2%, in line with expectations. This marks the third consecutive meeting where rates have been held steady. The ECB is maintaining a cautious stance due to persistent inflation, despite signs of economic weakness.
Michael Saylor: Bitcoin is 99% Off, Could Be Worth $10 Million in the Future
MicroStrategy founder Michael Saylor said Bitcoin is currently “99% off.” Saylor predicts that each BTC will reach $10 million when bankers acknowledge that Bitcoin is a good idea. According to Saylor, current prices offer a historic opportunity relative to Bitcoin’s long-term potential.
MegaETH Public Offering Concludes with $1.39 Billion in Participation
The public offering of Layer-1 project MegaETH has been completed. With over 50,000 participants and a total demand of $1.39 billion, the offering saw 27.8 times oversubscription. Users who bid $0.0999 are awaiting allocation results to be announced on November 5, with automatic refunds for those who bid lower.
USDC Treasury Burns 95.5 Million Tokens on Solana
According to Whale Alert data, the USDC Treasury burned 95.52 million USDC (approximately $95.5 million) on the Solana blockchain. This is seen as a significant step towards reducing the USDC supply.
JPMorgan Launches Tokenized Private Equity Fund
JPMorgan has launched its first tokenized private equity fund on its own blockchain infrastructure. This move is considered a new milestone in the shift of traditional financial institutions towards asset tokenization.
$87 Million Transfer from BlackRock ETF to Coinbase
According to on-chain analyst Onchain Lens, BlackRock’s IBIT ETF transferred approximately 794 BTC ($87.44 million) and 48 ETH ($188,800) to Coinbase in the last hour. Such transactions are considered active portfolio rebalancing by ETFs.
Reserve Bank of India: Stablecoins Pose Policy Risk
The Deputy Governor of the Reserve Bank of India stated that stablecoin issuance could lead to uncontrolled capital flows and threaten financial stability. The official emphasized that stablecoins must undergo “rigorous policy testing” before being integrated into domestic payment systems.
ECB to Launch Digital Euro Pilot in 2027
The European Central Bank plans to launch a pilot program for the digital euro project in 2027. The ECB sees digital currency as a strategic alternative to US-based stablecoin systems and aims for financial autonomy.
Indonesia to Issue Stablecoin Backed by Government Bonds
Indonesian Central Bank Governor Perry Warjiyo confirmed a national stablecoin project backed by government bonds. The stablecoin is being developed to strengthen the digital financial infrastructure and increase the resilience of the national monetary system.
Brazil Central Bank to Discuss Bitcoin Reserves
The Brazil Central Bank will participate in the Central Bank Autumn Meeting to be held in Rio de Janeiro on November 19–21. The agenda will include countries’ increasing Bitcoin reserve trends and the integration of crypto assets into the official reserve system.
