Citadel Securities said a strong U.S. economy and stubborn inflation will lead the Federal Reserve to only cut interest rates once more in 2024. "I will go out on a limb and say we'll end up seeing only 25 basis points of rate cuts over the rest of the year," Michael de Pass, global head of rates trading at Citadel Securities, said in an interview. The market "is still implying a 50 basis point rate cut this year. When we look at it, that number is a little too high, both in terms of the strength of the underlying economy and the stickiness of inflation." After strong U.S. job creation data in September, swap traders have lowered their expectations for further Fed rate cuts, now expecting about 47 basis points of rate cuts by the end of 2024. Before the jobs report, they expected about 75 basis points of rate cuts by the end of the year. Michael de Pass said the adjustment makes sense, but is still too aggressive. (Jin Shi P)

According to CoinDesk, Colombian neobank Littio is facilitating customer access to U.S. Treasury bills via crypto products. The bank is transitioning its vault holdings from Ethereum (ETH) to Avalanche (AVAX) to scale its offerings, known as Yield Pots, which allow users to earn interest on their U.S. dollar deposits. This shift is driven by growing demand for Yield Pots, with Avalanche's low transaction fees and consistency cited as key factors for the change. Littio's partnership with OpenTrade, a London-based firm, enables exposure to Yield Pots. OpenTrade develops yield-bearing products using stablecoins and real-world assets like U.S. Treasury bills. Stablecoins are cryptocurrencies designed to maintain parity with government-issued currencies, typically the U.S. dollar. Real-world assets refer to assets outside the crypto ecosystem, such as real estate, represented on-chain as digital tokens. Jeff Handler, chief commercial officer at OpenTrade, noted that Littio is currently the only Latin American neobank using their vaults, with more clients expected to offer various USDC-based fintech services this year. These clients include neobanks, centralized exchanges, and payment companies already utilizing USDC to meet the demand for USD bank accounts, payments, and services across Latin America. Since its launch in February, Littio's Yield Pots have achieved over $80 million in transaction volume and generated $250,000 in returns for users in the past four months. Littio reinvests between $11 million and $13 million in OpenTrade vaults monthly. For comparison, Franklin Templeton's tokenized money market fund, which similarly provides exposure to U.S. Treasuries, has amassed $435 million in assets since 2021. The yield from Littio's vaults ranges between 2% and 5%, according to the company's website. The product's appeal is understandable, given the significant depreciation of the Colombian peso against the U.S. dollar over the past decade. Other Latin American currencies also face severe inflation, making the U.S. dollar an attractive alternative. Additionally, Littio customers may encounter currency restrictions or lack access to traditional banking services, further incentivizing them to use Littio. Morgan Krupetsky, head of institutions and capital markets at Ava Labs, which develops the Avalanche blockchain, highlighted that Littio and OpenTrade demonstrate how Avalanche's technology can provide underbanked populations with access to products and services otherwise unavailable through traditional financial systems.

According to Odaily, the meme token MIHARU experienced a significant surge in value following a post by the XData account on the X platform. The post featured an image of a smiling finless porpoise, which led to the token's value increasing fiftyfold, reaching a market capitalization of $3 million in a short period. This is not the first time XData has influenced the market with animal-related posts. On September 21, the account posted an image of MOODENG, another instance where animal imagery had a notable impact. The rapid rise in MIHARU's value highlights the influence of social media activity on the cryptocurrency market, particularly with meme tokens that can experience volatile price movements based on trending content.

OpenAI is pursuing a largely untested corporate structure to protect itself from hostile takeovers and shield CEO Sam Altman from outside interference. The artificial intelligence startup, which received $6.6 billion in new financing last week, is planning to reorganize as a Public Benefit Corporation. Multiple people familiar with the company's thinking said a key benefit of this PBC structure is that it has the potential to block unwanted takeovers or activist demands. This means existing investors, such as Microsoft or other parties, may be frustrated if they try to acquire OpenAI. OpenAI's PBC structure will be obligated to balance the best interests of shareholders, the public interest, and stakeholders such as employees and society. This approach of "multi-pronged fiduciary obligations" to the company will provide OpenAI with a "safe harbor" from activists who may claim that the company is not profitable enough, said one person familiar with the matter.

After the account @XData under the X platform released a picture of a smiling finless porpoise, the related meme token MIHARU rose 50 times to a market value of 3 million in a short period of time. It is reported that the last time XData released an animal-related picture was MOODENG on September 21.

TL;DR Bybit has had a successful first month with bbSOL, the first exchange-backed liquid staking token on Solana. bbSOL has outperformed other exchange-backed staking tokens in terms of total value locked (TVL). The token will be listed on Bybit Spot on October 10, 2024, increasing its accessibility and liquidity options. Cryptocurrency exchange Bybit has reached ... source: https://crypto-economy.com/bybits-bbsol-shakes-up-solana-staking-with-record-breaking-success/

The artificial intelligence firm is seeking a dismissal of Musk’s lawsuit. source: https://cointelegraph.com/news/openai-accuses-elon-musk-harassment-legal-filing?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

Bitcoin’s price has been up and down over the last three months, moving between $67K and $53K. Now, experienced investors think the long-awaited halving effect could finally bring this year’s biggest upward move. Meanwhile, Popular trader Miles even hints at a quick rise toward $100K—could this be Bitcoin’s final climb, or might it continue into … source: https://coinpedia.org/news/bitcoin-bull-run-nears-top-crypto-trader-predict-btc-to-hit-100k/

null source: https://x.com/DaanCrypto/status/1844050576558215442

According to an announcement by Coinbase Assets on the X platform, io․net (IO) trading has been launched on the website and iOS and Android apps. Users can now buy, sell, convert, send, receive or store related assets.

Crypto Market, 20 Cryptocurrency Predictions for 2025 Bitcoin will break through the $100,000 mark Golden Finance, 20 Predictions for the Cryptocurrency World in 2025

Golden Finance launches Golden Web3.0 Daily to provide you with the latest and fastest news on games, DeFi, DAO, NFT and Metaverse industries.

Standard Chartered Bank predicts that if Trump is elected as the US president in November, the price of Solana token SOL is expected to rise by 500% by the end of 2025.

A new HBO documentary suggests that the creator of Bitcoin, Satoshi Nakamoto, is likely Canadian software developer Peter Todd, disproving the Nick Szabo theory put forward by Musk.

The Dow's performance in the 11 weeks before Election Day has been correlated with whether the incumbent party's candidate wins the presidential election since 1968.

Well-known analysis agency QCP Capital said that if China stops its economic stimulus measures, Bitcoin will usher in capital reallocation and the cryptocurrency market will benefit from it.

On October 8, 2024, the Financial Services Agency of Japan issued an important statement clarifying that "non-custodial wallet services" using certification technology are not considered to be crypto asset exchange industries.

Wall Street tycoon Schiff said the U.S. government is ready to sell 69,370 bitcoins and called on MicroStrategy to borrow another $4.3 billion to buy it.

Jade City has shipped its first batch of jade to Guangdong, China, aiming to profit from the $50 billion jade market and launch a tokenization platform, making this exclusive market more accessible to investors.

Ethiopia is rapidly advancing in Bitcoin mining, leveraging low-cost renewable energy to power operations consuming 600 MW. While promising, addressing electricity access remains crucial for growth.