Policies
▌Fed Official Bostic: Fed Still Has Ways to Control Inflation
Federal Reserve official Bostic said that inflation needs to be controlled, and financial markets will be volatile before that. The Fed still has ways to control inflation. Fed officials regularly discuss with their global counterparts.
Blockchain Applications
▌FITCHIN Launches Web3 Gaming Platform on Solana Blockchain
Fitchin, a provider of the Web3 game ecosystem, announced the launch of a game platform on the Solana blockchain, allowing users to join the game community, participate in competitions, and purchase limited digital asset collections. Users can enjoy the advantages of Solana’s low transaction fees, helping e-sports teams and Fans connect more effectively and meaningfully in this new age of technology. According to previous reports, FITCHIN completed a $3.5 million seed round in July this year.
Cryptocurrency
▌Hackers Get Nearly $1M Worth of ETH Again via 'Vanity Address' Exploit
A "0x9731F" hacker once again obtained nearly $1 million worth of ETH through the Ethereum "Vanity Address" vulnerability. It is reported that the hacker used a tool called "Profanity" to generate Ethereum "vanity addresses", which is very similar to the previous $160 million attack on market maker Wintermute. According to data disclosed by PeckShield, the hacker stole 732 ETH on September 25 and then transferred the funds directly to Tornado Cash, a now-approved cryptocurrency mixer. However, following the attack, Profanity developers have taken steps to ensure that no one continues to use the tool.
Key Economic Events
▌Fed's Collins: Inflation Likely to Peak, or Has Peaked
The Federal Reserve Collins said that inflation is likely to be close to its peak, or has already reached its peak. The expectation is that growth will be much slower in 2022. The economic growth will also slow next year. (Slowing economic growth) is part of what is needed to bring down inflation and a modest increase in unemployment, but there's a lot of uncertainty right now.