BTC breaks through $70,000, Trump family crypto project WLF may issue stablecoin

Headline

▌BTC breaks through $70,000

The market shows that BTC has broken through $70,000 and is now at $70,000.99, with a 24-hour increase of 2.79%. The market is volatile, so please do a good job of risk control.

▌Trump family encryption project WLF plans to issue stablecoins

Sources said that the Trump family encryption project "World Free Finance" (WLF: The World Liberty) plans to issue stablecoins. WLF recently raised $14 million in its first token sale. It plans to create and issue its own stablecoin, which is still under development and may take some time to launch.

One source said that the team is still determining how to ensure the security of the financial product before bringing it to market. Another source said that the team is simultaneously developing the main project components of World Liberty Financial, including stablecoins, to ensure that these features can be launched at the right time.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $69,804.14, with a daily increase or decrease of +2.7%;

ETH's latest transaction price is $2,562.18, with a daily increase or decrease of +2.3%;

BNB's latest transaction price is $599.96, with a daily increase or decrease of +1.9%；

SOL's latest transaction price is 177.85 US dollars, with a daily increase or decrease of +0.8%；

DOGE's latest transaction price is 0.1439 yuan, with a daily increase or decrease of +4.9%；

XPR's latest transaction price is 0.1612 US dollars, with a daily increase or decrease of +12.1%.

Policy

▌US media: Bloomberg boss has spent nearly $100 million to support Harris

According to the New York Times, citing multiple people familiar with the matter, former New York Mayor and Bloomberg boss Michael Bloomberg recently donated $50 million to a nonprofit organization supporting Democratic presidential candidate Harris. People familiar with the matter said that Bloomberg's latest donation went to the nonprofit organization Future Forward USA Action. Before this anonymous donation, he had already provided $47 million in public political donations to the Democratic Party, second only to George Soros among all the major Democratic donors. Bloomberg invested $95 million to help the Democratic Party in the 2018 midterm elections. According to Forbes data, Bloomberg, 82, is worth about the same as Bill Gates, about $105 billion.

Blockchain Applications

▌Astria, a decentralized shared sorting layer, launches mainnet

Astria, a decentralized shared sorting layer, has launched its mainnet, and is one of the projects that aims to decentralize blockchain "sequencers". Sequencers are components of layer 2 networks that compile transactions that occur on secondary networks so that they can be recorded on the main layer 1 blockchain (such as Ethereum). Astria said its setup represents "a single, permissionless network that can be shared by multiple rollups, providing settlement (i.e. bridging) and decentralized ordering, with fast (~2 second) block times and single-slot finality."

▌Prediction market Kalshi will provide price data to blockchain oracle service provider Stork

Prediction market Kalshi announced that it will provide price information to Stork Labs' oracle service network Stork, which sends external data to blockchains and decentralized exchanges. This will enable developers to build crypto applications influenced by Kalshi markets, where traders can bet on various events, including the US presidential election.

Cryptocurrency

▌MicroStrategy 2x leveraged ETF has risen 225% in six weeks

Eric Balchunas, senior ETF analyst at Bloomberg, said on the X platform that T-Rex's MicroStrategy 2x leveraged ETF MSTU was launched only six weeks ago and has risen 225%, with a trading volume of US$500 million (top 1% of ETFs) and an asset management scale of US$1 billion, exceeding the 1.75-fold MSTR ETF that debuted.

▌Tether CEO: Tether cannot go against the US government

Tether CEO Paolo Ardoino said in an interview that the US government can "destroy" Tether with one click. Therefore, Tether cannot go against the US government. He said: "We may not be the best at presenting ourselves, but the important thing is that we got the FBI to join Tether's compliance system. We got the U.S. Secret Service to join. We received a thank-you letter from the Department of Justice... We think we are doing everything we can." 

In addition, Paolo Ardoino said the company is "doing its best" to combat the use of illegal cryptocurrencies. He added that USDT's role in illegal finance is "insignificant" compared to the U.S. dollar. Ardoino said Tether has been actively freezing and blacklisting crypto wallets, and the company is working with 180 government agencies around the world.

▌ARKB had a net inflow of $59.8 million, and ETHE had a net outflow of $8.4 million

According to Farside Investors monitoring data, the funding data of the US spot Bitcoin ETF and spot Ethereum ETF yesterday (October 28) are as follows:  

Spot Bitcoin ETF: ARKB had a net inflow of $59.8 million, BITB had a net inflow of $38.7 million, and BTC had a net inflow of $21.6 million.  

Spot Ethereum ETF: ETHE had a net outflow of $8.4 million.

▌The entire network had a liquidation of $170 million in the past 24 hours, with both long and short positions liquidated

Data shows that the entire network had a liquidation of $170 million in the past 24 hours, of which long positions were liquidated for $72.73 million and short positions were liquidated for $97.55 million.

▌If Bitcoin breaks a new high, the cumulative short order liquidation strength of mainstream CEX will reach 386 million

According to Coinglass data, if Bitcoin breaks through the historical high of $73,777, the cumulative short order liquidation strength of mainstream CEX will reach 386 million. Conversely, if Bitcoin falls below $68,000, the cumulative long order liquidation strength of mainstream CEX will reach 486 million.

▌US Ohio Senate candidate Bernie Moreno sells Bitcoin to avoid conflicts of interest

US Republican Senate candidate Bernie Moreno claims to have sold his Bitcoin assets to deal with potential conflicts of interest with the cryptocurrency industry. He received more than $40 million in support from the "Defending American Jobs" political action committee during his campaign. Moreno said he was proud to have the support of the crypto industry, emphasizing that this was because it was consistent with his views, not because he had a consensus with them. Meanwhile, incumbent Senator Sherrod Brown, as chairman of the Banking Committee, is skeptical of digital assets. This campaign could become one of the most expensive contests in the 2024 US election.

▌Report: Bitcoin volatility rises, election factors become key influence

According to Bitfinex Alpha, Bitcoin (BTC) rebounded after a 6.2% volatility last week, driven by geopolitical and Trump election transactions. Election expectations have led to active options trading, and implied volatility after election day may reach 100 per day. Despite the increase in short-term volatility, Bitcoin has risen 30% since its September low.

Important Economic Dynamics

▌The probability of the Fed cutting interest rates by 25BP in November is 94.8%

According to CME's "Fed Watch", the probability of the Fed cutting interest rates by 25 basis points by November is 94.8%, and the probability of maintaining the current interest rate unchanged is 5.2%. The probability of maintaining the current interest rate unchanged by December is 1.3%, the probability of a cumulative interest rate cut of 25 basis points is 27.1%, and the probability of a cumulative interest rate cut of 50 basis points is 71.6%.

▌ECB Vice President Guindos: Inflation will fall back to target next year

ECB Vice President Guindos said that inflation will fall back to target next year; the price outlook is surrounded by major risks; the risks to the economic outlook have risen and are biased to the downside.

Golden Encyclopedia

▌What is dynamic resharding

Dynamic resharding is a relatively new term that Near Protocol's marketing team calls the "holy grail of sharding," but it also creates a new vocabulary that is not immediately understandable. Based on the concept of blockchain sharding, resharding occurs when the network adjusts the number of shards based on the load. An overloaded shard can become two shards, and two underutilized shards can become one.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.