Kansas City Fed President Schmid said Monday he favors not cutting interest rates further, saying the Fed should remain vigilant to the risk of excessive inflation as it navigates a balance between the dual risks of overly tight and overly accommodative policy. Schmid supported the Fed's decision to cut interest rates by 25 basis points in September, calling it appropriate risk management amid a cooling labor market. However, he noted that various indicators suggest the overall job market remains healthy, while inflation remains excessively high, with service sector inflation stabilizing at around 3.5% in recent months, well above the Fed's 2% inflation target. "A worrying sign is that the breadth of price increases is also widening," Schmid said, noting that as of August, nearly 80% of the categories in official inflation statistics were experiencing price increases, up from 70% at the beginning of the year. He added: "Overall, I expect the impact of tariffs on inflation to be relatively modest, but I view this as a sign that policy is appropriately calibrated, rather than a call for a significant cut in the policy rate." (Jinshi)

Stablecoin issuer Tether plans to propose its own board of directors and "governance reforms" for Italian football club Juventus. Tether currently holds a 10.7% stake in the club. According to a Reuters report on Monday, Tether's recommendations for the football club's board will be presented before the general meeting on November 7th. Additionally, Tether will invest approximately $129 million as part of Juventus' capital increase. Tether CEO Paolo Ardoino stated that the stablecoin issuer initially invested in Juventus in February and increased its stake to over 10% in April as part of its "commitment to innovation and long-term collaboration."

Joe Brusuelas, an economist at RSM, an insurance, tax, and consulting firm, said the stimulating effect of this round of Fed rate cuts on the economy may be more limited than in the past. Since most homeowners previously locked in mortgage rates well below current levels, mortgage rates would need to fall significantly for refinancing to significantly improve household finances. Corporate balance sheets are already healthy, and the marginal effect of lower financing costs on incentivizing risk-taking is diminishing. Brusuelas also emphasized that, against the backdrop of tightening immigration policies, even companies interested in expansion may face difficulties recruiting workers: "These factors combined will result in a longer lag in the transmission of interest rate cuts to the real economy than historical experience." (Jinshi)

Bee Maps (formerly Hivemapper, Inc., now under a new brand name), a provider of decentralized pinning (DePIN) infrastructure, has secured $32 million in funding. The specific round of funding was not disclosed, with participation from Pantera Capital, LDA Capital, Borderless Capital, and Ajna Capital. Bee Maps has also launched a new subscription-based "Bee Membership" program to lower the barrier to entry for contributors.

Vietnam's Deputy Finance Minister announced at a government press conference on Monday that the number of licenses for cryptocurrency exchanges under a pilot program will be capped at five. While some companies are preparing systems and engaging in preliminary discussions with officials, the Ministry of Finance has not yet received any formal applications. Industry experts have criticized the high capital requirements and regulatory uncertainty, warning that the policy favors large financial institutions at the expense of innovative fintech companies.

Bernstein analysts predict that shares of blockchain-based lending company Figure Technologies will rise more than 30%. The company debuted on the public markets in September with an initial public offering (IPO) under the ticker symbol FIGR at $25 per share. The stock is up about 6.5% today, trading at $42.71. Bernstein has set a price target of $54 for the stock.

Galaxy Digital, led by billionaire Mike Novogratz, has launched GalaxyOne, a fintech platform offering professional-grade financial products to individual US investors. Available on iOS, Android, and the web, the platform integrates cryptocurrency trading, US stock investing, and high-yield savings into a single, integrated digital experience. Notably, GalaxyOne offers two main products for investors seeking to earn interest. One, Galaxy Premium Yield, is designed for accredited US investors. Participants can earn up to 8.00% annualized percentage yield (APY) on notes issued by Galaxy Digital LP.

Prediction market platform Polymarket announced its official launch on the Bitcoin network and began supporting users to deposit using BTC.

OKX market data shows that BTC briefly fell below 125,000 USDT and is currently trading at 124,993.6 USDT, a 24-hour drop of 1.94%. (This news flash was generated by AI)

OKX market data shows that BTC has broken through 126,000 USDT and is currently trading at 126,025.1 USDT, a 24-hour increase of 2.46%. (This newsletter was generated with AI assistance)

By building itself into the intersection hub and optimal settlement infrastructure for the two core assets of Bitcoin and stablecoins, Plasma's long-term value ceiling is, in a sense, the future of the entire crypto finance.

South Korean retail investors are increasingly shaping Ether’s market momentum, driving not only its price growth but also the expansion of corporate Ether treasury holdings, according to industry experts.

The perpetual contract exchange market is undergoing a technological revolution. A new project called Lighter has quietly emerged. What exactly makes this project, hailed as the "next Hyperliquid," so special?

Wait till you see what Minara looks like 👀

Japan has gradually improved its tax and financial regulatory systems in the field of crypto assets.

Because who doesn't love cowboys?

Michael Saylor's goal is to redefine corporate treasury management. For him, Bitcoin is both a hedge against inflation and a reserve asset that won't lose value.

Abracadabra, the DeFi lending platform once hailed for its innovation, is facing what many are calling an “unlucky curse.” For the third time this year, the protocol has fallen victim to yet another sophisticated exploit — this time draining around $1.8 million worth of Magic Internet Money (MIM).

Spotify has teamed up with ChatGPT to offer music and podcast recommendations through natural conversation, available to users worldwide. The feature aims to make discovery easier while keeping user data private and giving artists’ work protection.

Arthur Hayes and Tom Lee engaged in in-depth discussions on cutting-edge topics such as perpetual contracts, stablecoins, digital asset treasuries (DATs), prediction markets, and privacy coins.