Brazil lifts ban on X, Babylon pledges deposits reach about $1.5 billion

Headlines

▌Brazil Supreme Court Judge Lifts Ban on Social Media X

Brazil Supreme Court Judge Lifts Ban on Social Media X. Brazil's Communications Minister said X's decision to pay the fine and comply with Brazilian law was a victory for the country.

▌Bitcoin Protocol Babylon Pledges Reach About $1.5 Billion

Bitcoin protocol Babylon completed its second round of pledge deposits on Tuesday, increasing the deposit amount from about 1,000 BTC to about 24,000 BTC, worth about $1.5 billion. This round of pledge deposits was "time-based" and lasted for 10 Bitcoin blocks.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $62,098.49, with a daily increase or decrease of -0.1%;

ETH's latest transaction price is $2,438.50, with a daily increase or decrease of +0.6%;

BNB's latest transaction price is $580.88, with a daily increase or decrease of +2.9%;

SOL's latest transaction price is $143.49, with a daily increase or decrease of -0.2%；

DOGE's latest transaction price is 0.1072 yuan, with a daily increase or decrease of -0.9%；

XPR's latest transaction price is 0.5307 US dollars, with a daily increase or decrease of +0.2%。

Policy

▌Canary Capital submits spot XRP ETF application to the US SEC

Cryptocurrency investment company Canary Capital submitted a spot XRP exchange-traded fund (ETF) registration application to the U.S. Securities and Exchange Commission (SEC), becoming the second company to apply for such a product this month. Founder Steven McClurg said that as the demand for blockchain solutions grows, the company sees a more progressive regulatory environment. The ETF will provide investors with the opportunity to access the XRP market through traditional brokerage accounts, avoiding the potential risks of holding XRP directly. The custodian of the ETF has not yet been determined.

Blockchain Applications

▌Samsung supports crypto payments after integrating Alchemy Pay

Crypto payment solution provider Alchemy Pay has integrated its virtual card with Samsung's mobile payment and digital wallet service Samsung Pay. The company previously conducted a similar integration with Google Pay in September.

Cryptocurrency

▌Bitcoin Magazine Report: Bitcoin is expected to see parabolic growth in the fourth quarter of 2024

According to a Bitcoin report released by Bitcoin Magazine, Bitcoin is expected to see parabolic growth in the fourth quarter of 2024.

▌Peter Todd denies being Bitcoin founder Satoshi Nakamoto

Former Bitcoin Core developer Peter Todd denied being Bitcoin founder Satoshi Nakamoto on the eve of HBO's upcoming documentary about Satoshi Nakamoto. In an interview, Peter Todd said that the allegations made by documentary producer Cullen Hoback were baseless.

▌Coinbase will list io․ net (IO)

According to Coinbase Assets' announcement on the X platform, Coinbase will add support for io.net (IO) on the Solana network (SPL Token), and trading will begin on or after 9:00 a.m. Pacific Time on October 9, 2024, if liquidity conditions are met. Once sufficient asset supply is established, the IO-USD trading pair will be launched in stages, but support for IO may be limited in some supported jurisdictions. Coinbase reminds users not to send related assets through other networks, otherwise the funds may be lost.

Important Economic Dynamics

▌Federal Reserve Chairman Bostic: The labor market has slowed down, but it does not appear weak or weak

Federal Reserve Chairman Bostic said that the labor market has slowed down, but it does not appear weak or weak; the economy is close to the Fed's goal and is "gradually approaching"; the inflation rate is still far above 2%; the risk of an overly strong economy may hinder the readjustment of policy; continue to focus on inflation targets, while also paying attention to the state of the job market.

▌The probability of the Fed cutting interest rates by 25BP in November is 86.7%, and the probability of not cutting interest rates is 13.3%

According to CME's "Fed Watch", the probability of the Fed cutting interest rates by 25 basis points by November is 86.7%, and the probability of maintaining the current interest rate is 13.3%. The probability of a cumulative interest rate cut of 50 basis points by December is 78.1%, and the probability of a cumulative interest rate cut of 75 basis points is 10.1%; the probability of a cumulative interest rate cut of 100 basis points is 0%.

▌Fed Collins: US inflation is expected to fall to 2% against the backdrop of a healthy job market

Fed Collins said that he is increasingly confident that the inflation rate will return to 2% in a timely manner; the US inflation rate is expected to fall to 2% against the backdrop of a healthy job market; current data show that the US job market is generally healthy; as far as rate cuts are concerned, a cautious, data-based approach is appropriate; the focus needs to be on maintaining the good shape of the US economy; there is a risk that the US economy will fall beyond the necessary level.

▌The three major US stock indexes closed up collectively

The three major US stock indexes closed up collectively, with the Dow up 0.3%, the Nasdaq up 1.45%, and the S&P 500 up 0.97%. Large technology stocks rose across the board, with Nvidia up more than 4%, and Apple, Microsoft, Tesla, Meta, and Amazon up more than 1%.

▌Bridgewater Fund founder Ray Dalio doesn't think the Fed will cut rates 'dramatically'

Billionaire investor Ray Dalio doesn't think the Fed will make another big cut to its benchmark rate after cutting it by half a percentage point last month. "The economy is in a relatively good balance right now," Dalio said. The Fed cut rates for the first time in four years last month, but a strong jobs report later opened up room for policymakers to slow down their pace. Dalio also talked about the policies of U.S. presidential candidates Trump and Harris and expressed concerns about the bond market. Dalio pointed out that the supply and demand in the U.S. bond market is in an unusual state. U.S. bonds account for a high proportion of institutional investors' portfolios, and there is a sense of overweight. Geopolitical uncertainty is also one of the problems facing the U.S. bond market.

Golden Encyclopedia

▌What are Rollups

Rollup is a way of processing transactions on the Layer 2 protocol that frees up valuable space on the base layer. Rollup folds transactions one by one on the second layer, sometimes dozens of times, and then rolls them together before sending the data back to Layer 1. There are two main types of Rollup, optimistic and zero-knowledge (ZK) proofs.

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