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first_img Lagarde: The Eurozone economy is resilient, and the digital euro is about to be launched

European Central Bank President Christine Lagarde stated that the 3.8% inflation rate in the Eurozone for September primarily reflects high energy costs, and the European Central Bank expects some relief next year. She pointed out that energy shocks are expected to keep Eurozone inflation above the central bank's target in the first half of 2027, but it is still appropriate to adopt a cautious policy response at this time. This statement was made on Saturday during the International Monetary Fund annual meeting.Lagarde also mentioned that the European Central Bank is designing a digital euro. She stated that in the retail payments sector, the European Central Bank is preparing to supplement cash in digital form by launching a digital euro for everyday payments. The digital euro will further stimulate innovation and competition in the retail payments sector, ensuring the continued coexistence of public and private solutions, thereby supporting Europe's strategic autonomy in the payments field.Previously, Cointelegraph reported on September 21 that the European Central Bank had launched the Pontes system, allowing financial institutions to settle wholesale tokenized asset transactions in central bank currency, providing an alternative for private settlement assets such as stablecoins. The system initially offers a set of core services, with full implementation expected by 2028.

Silicon Valley venture capital targets GPU computing power, a16z plans to expand with about 20,000 cards

Multiple venture capital firms in Silicon Valley are competing to secure GPU computing power to provide exclusive resources for their AI startups. a16z established a computing power pool of about 20,000 GPUs as early as 2024 and is negotiating expansion with data center companies Switch and Volta. General Catalyst plans to build a data center for its portfolio companies and has brought in the former head of NVIDIA DGX Cloud in May this year to oversee AI infrastructure operations.Even if AI startups complete their financing, they may not be able to rent GPUs in a timely manner. In April this year, major cloud providers like Microsoft were reported to prioritize allocating computing power to internal teams and large clients, leaving some startups facing months of waiting. a16z previously disclosed that during times of computing power shortages, prices that could originally be secured with a six-month contract might require a three-year commitment. Model training requires a large amount of GPU usage in a short period, while inference demand is difficult to predict, making it easy to waste funds by locking in computing power for several years in advance.a16z is concentrating on purchasing and leasing computing power through the Oxygen project, redistributing it to its portfolio companies, allowing them to access prices and contract terms typically reserved for large clients. In August this year, a16z co-led a $300 million financing round for Volta, which is valued at $2.4 billion, with investments covering both AI startups and data center companies providing computing power. The small venture capital firm Crucible Capital has built a cluster with 576 NVIDIA B300 GPUs for its portfolio companies to test, while also selling some computing power to a cutting-edge AI laboratory. This model allows venture capital firms to take on investments that were previously mainly borne by cloud providers and data center operators.

The situation between Russia and Ukraine and the interest rate hike bets triggered fluctuations in gold and silver, with Gate XAG and XAU contracts maintaining a leading position in industry trading volume

The unresolved ceasefire between Russia and Ukraine has led to a rebound in crude oil prices, and the market's bets on another interest rate hike before the end of the year are heating up, putting pressure on the gold and silver markets once again. According to CoinGlass data, gold (XAU) is currently priced at $4,183.22, with a 24-hour decline of 0.61%; silver (XAG) is currently priced at $60.25, with a 24-hour decline of 1.42%.During the market fluctuations, the trading volume of related contracts on Gate has continued to rise: the trading volume of Gate silver contracts reached $124 million in 24 hours, ranking second in the industry; the trading volume of Gate gold contracts reached $363 million in 24 hours, firmly holding third place in the industry; meanwhile, the open interest of Gate XAU gold contracts reached $411 million, ranking second in the industry.Gate has pioneered the trading sector for perpetual metal contracts and CFD contracts, covering mainstream metal trading targets such as gold, silver, and platinum, supporting 24/7 trading and USDT settlement. Relying on Gate's innovative unified account system, users can configure diverse assets such as stocks, metals, foreign exchange, indices, and commodities without cross-platform operations, helping users achieve a more flexible and efficient one-stop global asset strategy layout amid volatile markets.
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