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According to a report by Jinshi Data, "Fed mouthpiece" Nick Timiraos stated that the surge in energy prices has made the already tricky power transition at the Federal Reserve even more difficult.This process was already quite complex. Kevin Walsh's appointment has been stalled due to a Department of Justice investigation and obstruction from Tillis. Additionally, unlike previous Federal Reserve chairs since Volcker, Walsh has committed to a complete break from his predecessor's policies rather than continuing them.Currently, the market expects a 50-50 chance of interest rate hikes and cuts this year, which could put Walsh in a dilemma: on one hand, there is the president who nominated him, and on the other, the committee he is about to lead.In 2008, after a period of aggressive rate cuts, oil prices suddenly surged. At that time, Walsh strongly pointed out that the inflation risk "is the main risk" and suggested that the Fed's next move should be to raise interest rates. However, Trump's expectations were exactly the opposite.

CryptoQuant analyst Darkfost stated, "Macroeconomic headwinds continue to pressure the crypto market, which remains under strain in the current challenging environment for risk assets. The latest macroeconomic data complicates the Federal Reserve's decision-making. Inflation remains stubborn, demand is still resilient, while the unemployment rate has begun to rise, making the overall economic situation increasingly complex. The latest non-farm payroll report also shows that layoffs far exceed market expectations, further exacerbating uncertainty. Meanwhile, market liquidity remains tight. This situation has even affected institutions like BlackRock, which recently had to limit investor redemptions due to insufficient available liquidity. Therefore, the Federal Reserve's policy balancing has become more difficult, and it is likely to maintain a wait-and-see attitude in the short term. This liquidity constraint is also impacting the crypto market. The net inflow of stablecoins to trading platforms has been negative overall since the beginning of this year. However, this trend seems to be showing signs of stabilization, which corresponds with Bitcoin attempting to stabilize around the current price level. For a more positive trend to emerge, the liquidity currently flowing out of the market (or funds directed towards assets like oil and precious metals) ultimately needs to flow back into the crypto market."

Ethereum founder Vitalik stated, "I think it's a good thing for the Ethereum community to have a bolder and more open mindset, especially regarding the application layer and how we view our place in the world. We should not compromise on core attributes: censorship resistance, open source, privacy, and security (CROPS). Especially at the application layer and in the interface between Ethereum and the outside world, we should be more willing to thoroughly rethink various concepts and step out of our comfort zone.Last year, we began to prioritize privacy and give it equal importance to other types of security. This means that the Ethereum application stack will undergo fundamental changes, as the entire stack has not been built around privacy so far. Great, let's build a completely different Ethereum application stack. An example this year is rethinking the role of L2 from scratch and determining which types of L2 can truly create the greatest synergy and benefits with Ethereum. This also includes cultural factors.For me and others, this is an important part of the "milady" concept. Write down your inherent notions of "decency," crumple them up, and burn them. This mental cleansing will lead to an intellectual cleansing, thereby sparking greater creativity and broadening perspectives. For a long time, our algorithm on Ethereum has been: we have an existing ecosystem, what should we do next to make it better? Now, our algorithm should be: we have a fantastic L1 layer, and it will become even better; we have more and more tools, including those developed inside and outside the ecosystem; based on what we currently know, what is the most valuable?If you were to write the section on applications from the 2014 Ethereum white paper, starting from first principles in areas like DeFi, decentralized social, and identity verification, what would you write? At the very least, please exclude all path dependency issues, assuming the Ethereum chain is currently unused, and you are the first to propose or build the first applications, and see what you would ultimately write. Even if you are currently building existing applications, please do this. This is the secret to revitalizing Ethereum."

According to market news, as spot trading volume continues to shrink, leverage has become the main driving factor for short-term fluctuations. In the absence of "structural buying" (long-term funds that can absorb selling pressure), the market will experience sharp rises and falls on both the bullish and bearish sides.From a technical perspective, BTC has found support near its 200-week moving average, which historically has often been the location where bear market bottoms form. Wintermute believes that until clear signals re-emerge at the macro level, each rebound will be viewed as an opportunity to de-risk rather than a reason to chase prices higher. For crypto, the key to returning to an upward trajectory still depends on macro clarity. The 200-week moving average remains supportive, and there has been no structural damage to the market, which means that once macro uncertainty dissipates, the pace of recovery could be faster than current sentiment suggests. In the short term, we are in a range-bound, slightly downward state; the market is dominated by leverage, and the $70,000 level remains an important resistance point in the near term.

Animoca Brands and Ethoswarm (under CryptoSlam) announced a strategic partnership to jointly launch a new service, Animoca Minds, aimed at promoting the development of the Agent Economy.According to the introduction, Animoca Minds is built on the Ethoswarm protocol, with the goal of eliminating the hardware and technical barriers for AI applications, reducing complexity, and enabling non-technical users to deploy and operate sovereign and sustainably functioning AI agents. Users can "wake up" personalized, cloud-resident AI agents through Animoca Minds and interact with them using natural language, supporting communication methods such as email and Telegram.The platform offers a variety of preset agent roles to choose from, including market researchers for real-time industry trend analysis and crypto scouts for discovering emerging Web3 applications, helping users understand and explore the practical application scenarios of agent AI. Blockchain technology is utilized to support functions such as identity, economic incentives, and traceability, while related on-chain operations have been abstracted and simplified to enhance the overall user experience.

Bloomberg senior ETF analyst Eric Balchunas posted on the X platform that the recent performance of the silver exchange-traded fund SLV is "exaggerated to the extreme," but the inflow of funds has been quite limited, attracting only about $1 billion in the past six months, and investors should pay attention to the risks.In contrast, BlackRock's Bitcoin spot exchange-traded fund IBIT, despite a price pullback of about 24%, has still recorded over $6 billion in net inflows, which is a "very positive" signal for Bitcoin's long-term prospects. This indicates that when the market is favorable, any ordinary ETF can attract funds, but the ability to continue receiving inflows during prolonged difficult phases is what makes an ETF truly "hardcore."

According to Xinhua News Agency, the relevant departments of the State Taxation Administration have informed that tax authorities are continuously strengthening the publicity and guidance on the taxation of residents' personal overseas income. Since last year, taxpayers have been reminded to conduct self-examinations on income obtained from abroad from 2022 to 2024. According to the Tax Collection and Administration Law and other laws and regulations, if taxpayers fail to file tax returns or make calculation errors resulting in unpaid or underpaid taxes, tax authorities can recover the tax and late fees within three years; if tax evasion is constituted, legal action will be taken.Residents are required to pay individual income tax on income obtained from both domestic and foreign sources, which is a common international practice that helps prevent cross-border tax evasion and protects national tax rights. Tax authorities remind that paying taxes in accordance with the law is an obligation of every citizen. If taxpayers find that they have not declared their overseas income as required, they should promptly correct their declarations in accordance with the law.

According to Eleanor Terrett's disclosure, the Federal Reserve officially revoked its 2023 policy statement on Wednesday and issued a new policy to create conditions for regulated banks to participate in innovative financial activities. This policy change removed the previous restrictions that hindered uninsured banks from becoming members of the Federal Reserve and participating in cryptocurrency activities, which was the basis for the Federal Reserve's rejection of Custodia Bank's master account application.Federal Reserve Vice Chair for Supervision Michelle W. Bowman stated, "New technologies provide efficiencies for banks and better products and services for customers. By creating pathways for responsible innovation in products and services, the Federal Reserve ensures that the banking industry can modernize, operate efficiently, and remain safe and sound."

Coinbase Markets has released a notice stating that Stargate Finance (STG) has completed its migration to LayerZero (ZRO), and Coinbase will not execute the related asset conversion on behalf of customers.The platform indicates that if users wish to convert their STG to ZRO, they need to complete the operation themselves through a compatible self-custody wallet. Currently, no deadline has been set for the conversion.

According to CoinDesk, as the crypto industry pushes for recent action from the U.S. Congress on a bill to establish a regulatory framework for the digital asset market, the Blockchain Association has hired Lindsay Fraser from Uniswap Labs to lead its policy affairs.Fraser previously handled policy matters for Uniswap while the industry struggled with how the U.S. government would address DeFi issues. Now, she will take on broader responsibilities for the association, which has 146 member companies, but she stated that her DeFi experience will help advance related discussions. In an interview, Fraser mentioned that the association is one of the leading industry advocacy organizations in Washington and will closely monitor the market structure bill currently being negotiated in the Senate, the implementation of the stablecoin bill established earlier this year, and the future direction of U.S. cryptocurrency tax policy.

The Hong Kong Securities and Futures Commission reminds the public to be cautious of suspicious investment products named "Goldpay Token (GPT)" and "Gold Receipt (GR)." These Hong Kong products involve digital tokens linked to physical gold and have not been approved by the Hong Kong Securities and Futures Commission for public sale.

According to official news, since SUN.io adjusted its liquidity mining strategy, there are still some users who have not withdrawn their matured staked principal and mining rewards (including project rewards and governance rewards). To protect your asset rights, please withdraw the relevant assets in a timely manner before December 20, 2025. The platform will still support self-service operations at that time; after this date, those who need to withdraw rewards (including smart pool users) will need to contact the SUN.io team for assistance. Smart pool users should closely monitor the staking maturity date. There is a one-week withdrawal window after maturity; if missed, it will automatically renew, and at that time, withdrawals can only be made after the next cycle ends or by using the emergency withdrawal function to forfeit reward withdrawals. Users are advised to check their accounts and complete operations in a timely manner to ensure effective use of assets.

According to Jinshi News, some Wall Street strategists believe that strong corporate earnings will drive the rise of the U.S. stock market in 2026, and the risks surrounding the uncertain interest rate outlook will prove to be temporary. Morgan Stanley's Michael Wilson stated that an earnings recovery is underway, U.S. companies enjoy better pricing power, and earnings expectations have bottomed out. He pointed out that although the Federal Reserve's guidance and the government shutdown are putting pressure on stock prices, these are merely temporary obstacles. Market attention is turning to the earnings report of Nvidia, which will be released next week.

The South Korean cryptocurrency exchange Bithumb listed Divijen (DVI) as a trading warning project on November 7 and suspended deposits;At the same time, it reminded that Elixir (ELX) may experience increased price volatility due to fluctuations in the stablecoin deUSD. Users are advised to exercise caution when investing in Elixir (ELX).

ChainCatcher news, according to CoinDesk, the inflow of funds into stablecoins is rising ahead of the Federal Reserve's interest rate decision tonight. Aside from the nearly certain 25 basis point rate cut, traders are also watching for signs that the Fed may slow down the reduction of its balance sheet, which would further ease financial conditions and could be a potential boon for risk assets.Trading activity is currently becoming subdued, with liquidity on centralized exchanges significantly declining, and the order book depth is only at 40% of the pre-liquidation level of 1011. According to market news, the supply of stablecoins has risen for the first time since September, indicating that "macro tailwinds are translating into new inflows." Meanwhile, the perpetual futures funding rates for most major tokens have now turned positive again, and the open interest for BTC and ETH is "rebuilding at a steady pace."Although Uptober (Upward October) shows slight signs of a false start, macro tailwinds, cooling inflation, stabilizing geopolitical tensions, and a dovish Fed are laying the groundwork for the remaining gains this year. Historical data shows that the fourth quarter has always been the strongest period for Bitcoin. The vast majority of analysts hold the view that a breakout seems imminent.

ChainCatcher news, according to Jinshi reports, Goldman Sachs' multi-department fixed income investment head Lindsay Rosner stated that today's report is insufficient to make him "panic" ahead of the Federal Reserve's expected rate cut next week, and the possibility of a rate cut in December still exists.

ChainCatcher message, on-chain detective ZachXBT posted on platform X: "CZ be careful, an X account you are following may be a scammer, this account has changed its username multiple times, with the last change occurring 1 day ago."

ChainCatcher news reports that, according to on-chain detective Eye, an investigation into an insider trading group has made significant progress. The investigation reveals that the previously high-profile BTC whale Garrett Jin, who swapped a large amount of ETH, may only be an agent, with the real source of insider information pointing to a group of insiders within the White House.It has been disclosed that this group has long profited from trading using confidential information from White House rumors and official announcements. Key information is forwarded to the insider group by aides who have contact with the president, allowing them to establish extremely favorable trading positions before significant price fluctuations. The investigation shows that the core figures leading this operation are Zach Witkoff and Chase Herro from WLFI, with Trump's son also involved in these activities.The group facilitates participants through short-term notifications to maximize trading profits before major price changes. Investigators state that, for personal safety reasons, this will be their last statement on the topic.Previously, analysts indicated that the sale of over $4.23 billion in BTC for ETH by a whale is suspected to be linked to former exchange executive Garrett Jin.

ChainCatcher news, Glassnode shared that Bitcoin is supported at the cost basis of short-term holders (STH), with the ETF and the reduced selling pressure from long-term holders (LTH) bringing stability to the market. Options have completed their reset after expiration, open interest (OI) is re-accumulating, volatility is easing, and capital flows are leaning towards a cautious bullish outlook for the fourth quarter.