Early paper Fed interest rate reduction 25 base points and end abbreviation; YZi Labs Report: BNB approximately 67% held by the public and Zhao Chang Peng held less than 1%
Zhou, ChainCatcher
Important information:
- Consensys plans to put Morgan Chase and Goldman Sachs on the market
- FEDERAL RESERVE CHANNEL: FOMC DOES NOT RECOGNIZE MARKET PRICING FOR THE DECEMBER INTEREST RATE DECLINE
- Powell: The December interest rate is not on the table. The committee has very different views
- Federal Reserve: action to close the $6.6 trillion balance sheet
- 25 basis points, base rate reduced to 3.75-4.00 per cent
- YZi Labs Report: BNB approximately 67% held by the public and Zhao Chang Peng held less than 1%
- SPAC FINANCING HAS BEEN HIGH SINCE 2021, WITH ENCRYPTED CURRENCY AS ONE OF THE MAIN AREAS OF TRANSACTIONS
What's important about the last 24 hours
Consensys plans to put Morgan Chase and Goldman Sachs on the market
ChainCatcher reports that the developer of MetaMask's wallet, ETA Infrastructure, Consensys, plans to be publicly listed in the United States and has hired Morgan Chase and Goldman Sachs as IPO's main distributor。
ChainCatcher reports that MasterCard is planning to purchase the Chicago-based encryption and stabilization currency infrastructure start-up company Zerohash for up to $2 billion。
This acquisition will further extend the encryption of the MasterCard to the area of stable currency and monetization infrastructure。
ChainCatcher reports that Federal Reserve Chairman Powell has indicated that an increasing number of Federal Reserve officials are prepared to postpone the forthcoming interest rate. He noted that “after the decline in interest rates at the last two policy meetings, there was a feeling that some officials wished to take a wait-and-see attitude. There is a growing belief that perhaps we should wait for at least one cycle.”
In addition, Powell added that “the economic situation is generally quite good”. Kim Xiao
ChainCatcher, “Federator of the Fed” Nick Timiraos commented on the statement of Federal Reserve Chairman Powell, who said: “The press conference by Powell showed that FOMC as a whole did not agree with the market's previous high pricing of the down interest rate in December”
Powell said: “There is a great deal of disagreement as to how to proceed in December.” He stressed that the December reduction “should not be seen as having been finalized. In fact, it is far from so.” This goes beyond what they usually call exoneration statements that “policies do not go along the prescribed path”, which is clearly an effort to regain some degree of policy flexibility in order to avoid being forced to take certain specific actions. What if there is no government data to help clarify the economic situation? According to Powell, this means that there is “a very high degree of uncertainty, which may justify cautious action”. Kim Xiao
Powell: The December interest rate is not on the table. The committee has very different views
ChainCatcher, Federal Reserve Chairman Powell, in a press conference, said that the drop in September and today was a risk management rate, but that would not be the case in the future. In his introductory remarks, he said the most important: “In the Committee's discussions at this meeting, there were very different views on how to proceed in December. A further reduction in policy interest rates at the December meeting is not an inevitable result.”
THE MARKET THEN QUICKLY REDUCED THE PROBABILITY OF A DECLINE IN THE FEDERAL RESERVE'S INTEREST RATE IN DECEMBER FROM 92 PER CENT TO 70 PER CENT, LOW RISK ASSET EXPOSURE, US DEBT RETURN AND US DOLLAR INDEX DXY PULL. KIM XIAO
Federal Reserve: action to close the $6.6 trillion balance sheet
ChainCatcher reported that the Fed stated on Wednesday that it would put an end to its $6.6 trillion balance sheet reduction because of evidence that liquidity in the currency market had begun to tighten and bank reserves had fallen。
The Fed indicated that, starting on 1 December, it would seek to stabilize its sovereign debt holdings by extending the maturity of its national debt, rather than allowing a monthly reduction of up to $5 billion. The Fed also indicated that it would maintain its current plan to allow up to $35 billion a month in mortgage support securities to mature, a goal that had not been met for more than three years, but that, as of 1 December, all the principal amounts of maturated mortgage support securities would be reinvested in United States Treasury bonds. Kim Xiao
25 basis points, base rate reduced to 3.75-4.00 per cent
ChainCatcher reported that the Federal Reserve had reduced the base rate by 25 basis points to 3.75 per cent to 4.00 per cent for the second consecutive meeting, in line with market expectations. Kim Xiao
YZi Labs Report: BNB approximately 67% held by the public and Zhao Chang Peng held less than 1%
ChainCatcher News, YZi Labs publishes a long article, BNB: A Core Engine for the Global Web3 Economy, which mentions that about two thirds of BNB supplies are held by unrelated public holders (on trading platforms and in self-custody), while Zhao's individual BNB holdings are less than 1 per cent of the total. The dollar BNB Treasury holds approximately 4 to 5 per cent of the total circulation. Approximately 27 per cent of the total circulation is held by the BNB Foundation and is isolated for procedural destruction (non-sale) - a transparent chain-up mechanism that has enhanced BNB deflation over time。
BNB USES A PROCEDURAL SELF-BALANCING MECHANISM. ITS MAXIMUM SUPPLY IS 100 MILLION UNITS, MANAGED BY TWO COMPLEMENTARY MECHANISMS — AUTOMATIC DESTRUCTION AND BEP-95 — WHICH TOGETHER HAVE DESTROYED MORE THAN 64 MILLION BNBS, OR MORE THAN 31.8 PER CENT OF THE HISTORICAL SUPPLY. BNB PRICES ON OCTOBER 26TH, 2025 WERE CALCULATED AT APPROXIMATELY US$ 1115, WHICH MEANS THAT SOME US$ 72 BILLION WORTH OF BNB HAS BEEN DESTROYED。
Jack Yi: Big money is hard to get into encryption in the short term
ChainCatcher News, LD Capital founder Jack Yi wrote in X that the current trend of deep adjustments, the constant heat of AI and gold, and the short-term difficulty of large funds flowing into encryption led to DAT being mostly below 1 and the loss of ongoing financing capacity. “So for the time being, we choose to rest, of course, at any moment, and everyone judge according to their own perceptions and trends, but we choose to wait for certainty to reinvest.”
ChainCatcher, The Kobeissi Letter from Platform X, states that since 2024, the founders of SPAC (Special Purpose Acquisition Corporation) have raised over $24 billion, more than the sum of the previous two years. The year 2025 is expected to be the strongest performance of SPAC since 2021. Most of the recent SPAC deals have focused on nuclear energy, quantum computing and encryption of money。
HOWEVER, ONLY 11 PER CENT OF THE 589 COMPANIES LISTED THROUGH SPAC SINCE 2019 CURRENTLY HAVE EQUITY PRICES HIGHER THAN THEIR ORIGINAL ISSUE PRICE. DURING THIS PERIOD, 31 PER CENT OF THE COMPANIES WERE BANKRUPT OR ACQUIRED, AND 48 PER CENT OF THE COMPANIES ' MARKET VALUE FELL BY 50 TO 99 PER CENT。
Hong Kong Monetary Authority: Seven banks want to introduce tokenization deposits within the year
ChainCatcher reports that according to Hong Kong Media, Zhou Wenzheng, the Assistant Managing Director (Financial Infrastructure) of the Hong Kong Monetary Authority, has indicated that according to the offer received by the Authority, seven banks are now interested in introducing tokenized deposits this year。
In addition, in response to a market rumor that the Hong Kong Monetary Authority has not advanced the application of the digital Hong Kong dollar in retail trade, Vice-President Li Daqi responded: “The retail application of the stable currency has not been excluded, and the opportunity to use the stable currency in retail is felt to be high, and the actual usage remains to be determined by the commercial agencies”。
According to Li, the technology is similar to that of digital Hong Kong dollars, stable currencies and token deposits, although the issuer is different. Digital Hong Kong dollars belong to “public currency”, token deposits and stabilization currencies are “private currency” and digital Hong Kong dollars and token deposits tend to use private chains to stabilize currency in the public chain。
WESTERN UNION OF REMITTANCES: USDPT UNDER THE FLAG, TO LAUNCH DIGITAL ASSET NETWORKS
ChainCatcher, according to Businesswire, the U.S. Dollar Payment Token (USDPT) was declared a stable currency on the New York office market for the payment of Western Union remittances to giants。
In addition, the company announced that it would launch a digital asset network aimed at connecting the digital and the French world to make digital assets practical in the real world。
WESTERN UNION EXPECTS USDPT TO BE ON THE MARKET IN THE FIRST HALF OF 2026, AND THE COMPANY PLANS TO MAKE USDPT ACCESSIBLE AND USER-FRIENDLY THROUGH A COOPERATIVE EXCHANGE。
Tether holds US$ 135 billion in US$ 17, the world's largest US debt
ChainCatcher, Tether’s CEO, Paolo Ardoino, states that the stable currency Tether held US Treasury bonds amounting to $135 billion, and that if he were to be considered a country, he would have surpassed South Korea’s status as the world’s 17th largest US debt holder。
Tether is close to Brazil, after Norway. Japan remains the largest overseas holder of United States debt, holding more than $1.1 trillion, followed by the United Kingdom and China。
Meme Hot List
According to Meme Currency Tracking and Analysis PlatformGMGNAs of October 30th, 0900
In the past 24h ETH, the top five of the hot coins were:sUSDe, PEPENODE, BFX, LINK, NVAI
In the past 24h Solana, the top five of the hot coins were:TRUMP, MetaMask, USCR, 4 yuan, X402
The top five of the 24h Base coins were:VIRTUAL, EURC, CLANKER, ZORA, AORA
What are the good articles worth reading in the past 24 hours
On Thursday, 30 October, the Federal Reserve reduced the base rate by 25 basis points to 3.75 per cent to 4.00 per cent, for the second consecutive meeting, in line with market expectations. The two members voted against, indicating an increase in differences. Among them, the Chairman of the Kansas Federal Reserve, Schmid, objected to a reduction in interest rates and supported the maintenance of interest rates; Councillor Milan objected to the current interest-rate resolution and expressed the view that the rate should be reduced by 50 basis points。
IN ADDITION, THE FED FOMC ANNOUNCED THAT THE BALANCE SHEET WOULD END ON 1 DECEMBER AND THAT IT CURRENTLY HELD $5 BILLION IN DOLLAR DEBT AND $35 BILLION IN MBS PER MONTH. AFTER THAT, THE REPAYMENT OF PRINCIPAL ON MORTGAGE-BACKED SECURITIES WILL BE REINVESTED IN SHORT-TERM NATIONAL DEBT。
In recent years, decentrization of artificial intelligence as a frontier area for the integration of block chains with AI technology has attracted the attention of the global community of science and technology. Bittensor (TAO), as an open-source agreement, applies the Bitcoin-type “drilling incentives” mechanism to AI calculations, organizing multi-type subnets such as reasoning, training, etc. on block chains to compete with suppliers and to be rewarded for their contributions。
According to CoinGecko, the Bittensor token, TAO, which went online in March 2023, was worth $423 and had a market value of about $4 billion, ranking 42nd in encrypted currency. Recently, TAO Treasury, TAO Synergies Inc. announced the completion of $11 million in private fundraising, with investments from TAO Strategy Adviser James Altucher and Greyscale parent company DCG。
During the current ChainCatcher interview, we had the privilege of talking to Jacob, founder of Bittensor, about his technological vision, his journey from Google to entrepreneurship, and how Bittensor could break the barriers of traditional AI through “incentive calculations”。
WHY IS AN ENCRYPTED BANK BETTER THAN AN ETF
Between August and September 2025, the Encrypted Treasury (Digital Assembly Treaties, DAT) became the central vehicle for mainstreaming encrypted assets on Wall Street. This shift must surprise many people in the industry who thought that ETF would continue to dominate rather than be gradually replaced by DAT。
What's going on back there? A few years ago, Strategy took the lead in launching the Bitcoin DAT model, but investors had yet to know how to apply it to other encrypted assets. This paper will explore in depth the market patterns of DAT and related disputes。
Financial Black Hole: Stable currency is devouring banks
In the process of the gradual digitization of the global financial system, currency stabilization is now becoming a force that cannot be ignored. They are not banks, they are not money market funds, they are not traditional payment systems, but they are reshaping the movement path of the dollar, challenging the transmission mechanisms of monetary policy, and they are triggering a deep discussion about the “financial order.”。
This paper, which has evolved from the history of the "Small Bank" to provide an in-depth analysis of how the stable currency reproduces this model in the chain and influences the U.S. Treasury and global financial liquidity through the "liquid black hole effect." Against the backdrop of policy regulation that has not been fully clarified, the non-cyclical expansion of stable currencies, systemic risks and macro-impacts are becoming new topics that the financial community cannot avoid。