Morning Brief | Polymarket may launch stock price prediction markets; Tether CEO hints USDT market cap could reach 1 trillion dollars

Compiled by: Zhou, ChainCatcher

Key News:

• Market News: Polymarket launches "Up/Down" stock prediction markets, allowing users to bet on stock price trends
• CZ: Governments will not bail out cryptocurrencies, but Binance will do its best
• Tether CEO hints that USDT market cap may reach 1 trillion dollars
• BlackRock CEO: Will promote asset tokenization and ETF tokenization
• Uniswap founder: High listing fees charged by CEXs are just marketing tactics, DEXs have achieved free listing and liquidity support

What important events happened in the past 24 hours?

Traders bet that the Federal Reserve will cut rates at least once by year-end, possibly by 50 basis points

ChainCatcher news, according to Golden Ten Data, traders have started betting that the Federal Reserve will make at least one significant rate cut by the end of the year, expecting policy to be more aggressive than other market observers anticipate. Recent trading activity in options linked to the Secured Overnight Financing Rate (SOFR) shows the market is increasing its bets on a half-percentage-point rate cut, which could occur at a meeting later this month or in December. This expectation exceeds the two 25-basis-point cuts currently priced into interest rate swaps.

Market News: Polymarket launches "Up/Down" stock prediction markets, allowing users to bet on stock price trends

ChainCatcher news, according to market sources, Polymarket has officially launched Up/Down Equity Markets, allowing users to bet on the future price direction ("up" or "down") of specific stocks.

CZ: Governments will not bail out cryptocurrencies, but Binance will do its best

ChainCatcher news, CZ posted on X platform, stating that no government will bail out cryptocurrencies, but Binance will do its best. He is pleased to see everyone sharing what they have gained from Binance.

Tether CEO hints that USDT market cap may reach 1 trillion dollars

ChainCatcher news, Tether CEO Paolo Ardoino posted on X platform with an image hinting that the USDT market cap may reach 1 trillion dollars.

Currently, USDT's market cap has surpassed 180 billion dollars, setting a new all-time high.

BlackRock CEO: Will promote asset tokenization and ETF tokenization

ChainCatcher news, according to Crypto In America, BlackRock CEO Larry Fink said in an interview with CNBC that the company is advancing the tokenization of traditional assets such as real estate, stocks, and bonds, and is exploring putting ETFs on-chain to enable fractional ownership, faster settlement, and 24/7 access.

Fink stated that BlackRock's assets under management reached 13.5 trillion dollars in Q3, with its ETF platform surpassing 5 trillion dollars. The iShares Bitcoin ETF holds about 100 billion dollars and is the fastest-growing and most profitable fund. Fink revealed that BlackRock is developing internal asset tokenization technology and believes this move will attract more long-term and younger investors.

SOLOTEX approved by FINRA, can provide tokenized stock trading services to US retail investors

ChainCatcher news, according to Coindesk, SOLOTEX will provide tokenized stock trading services to US retail investors under the approval of the Financial Industry Regulatory Authority (FINRA).

He Yi: Actively pursuing token listings is not the right way for quality projects to enter Alpha; having a solid product infrastructure often stands out

ChainCatcher news, He Yi posted on X platform: "If you have a quality project, the right way to enter Alpha is not to actively pursue token listings. You will find that actually acquiring seed users and bringing new products to market is the best approach.

Although many projects apply for Alpha, those that ultimately stand out are often the ones with solid product infrastructure."

He Yi responds to Binance's 21.75 billion dollar outflow in 7 days, says it's due to statistical logic, not real fund outflow

ChainCatcher news, He Yi responded to the news of "Binance's 21.75 billion dollar outflow in 7 days," saying she has learned about the statistical logic from the data platform. The metric is the difference in unrealized profit and loss between the token price 7 days ago and today's token price, not actual fund flows, so all platforms show "outflow" results.

Previously, according to market news, CoinGlass data showed that centralized exchanges saw large-scale asset outflows in the past week, with Binance having the largest outflow at 21.75 billion dollars.

Star: OKX has implemented relevant control measures on Huione Group transactions, may freeze funds or terminate related accounts

ChainCatcher news, OKX CEO Star posted on X platform that Huione Group has caused serious negative impacts in the crypto asset field. Given its potential risks, OKX has implemented relevant control measures on transactions involving the group.

All crypto asset deposit or withdrawal transactions related to Huione will be subject to compliance investigations. Depending on the investigation results, the platform may take measures such as freezing funds or terminating account services.

Uniswap founder: High listing fees charged by CEXs are just marketing tactics, DEXs have achieved free listing and liquidity support

ChainCatcher news, Uniswap founder Hayden Adams stated that decentralized exchanges (DEXs) and automated market makers (AMMs) can now provide free listing, trading, and liquidity support for any asset. He pointed out that if a project chooses to pay high listing fees to centralized exchanges (CEXs), the real purpose is more about marketing and promotion rather than a structural market necessity.

Hayden emphasized: "The development of DEXs and AMMs allows anyone to freely create markets, and we are proud to play a role in achieving this goal."

CoinDCX co-founder: This Coinbase investment values CoinDCX at 2.45 billion dollars

ChainCatcher news, according to The Block, CoinDCX co-founder and CEO Sumit Gupta said that this Coinbase investment values CoinDCX at 2.45 billion dollars.

Previously, Coinbase announced it would invest in the crypto exchange CoinDCX, pending regulatory approval.

Tom Lee and Arthur Hayes still stick to their prediction that Ethereum will rise to 10,000 dollars by year-end

ChainCatcher news, according to Cointelegraph, despite the recent downturn in the crypto market and less than three months left in the year, BitMine chairman Tom Lee and BitMEX co-founder Arthur Hayes still maintain their prediction that Ethereum (ETH) will reach 10,000 dollars this year.

Tom Lee said in a Bankless podcast interview on Tuesday that he expects Ethereum's year-end price to be between 10,000 and 12,000 dollars. In the same podcast, Arthur Hayes said he would remain consistent and stick to the 10,000 dollar year-end prediction.

Currently, Ethereum is priced at about 4,129 dollars. If it rises to 10,000 dollars, that would mean an increase of about 142%. Both Tom Lee and Arthur Hayes believe this target is still possible within the remainder of the year and could even be considered a conservative estimate.

Meme Hot List

According to data from the meme token tracking and analysis platform GMGN, as of 08:40 on October 16,

The top five trending ETH tokens in the past 24h are: USDe, sUSDe, YB, LINK, MAXI

The top five trending Solana tokens in the past 24h are: MetaMask, LILPEPE, MetaMask, TRUMP, MetaMask

The top five trending Base tokens in the past 24h are: ZORA, EURC, ZEN, wstETH, MOON

What are some great articles worth reading in the past 24 hours?

Monad airdrop query goes live, have almost all testnet users been "reverse farmed"?

This article analyzes the results of the popular Monad airdrop distribution and community reactions, pointing out that a large number of early testnet interaction users were "reverse farmed," while the airdrop shares mainly went to broadly active on-chain users and specific community members, sparking transparency concerns and community dissatisfaction. The article concludes by offering "reverse farmed" airdrop hunters ideas for shifting focus to exchange activities.

Doll Sister shares her crypto trading experience: "Faking it to make it" for traffic, turning the tide after losing 8 million dollars

After taking a few days to sort out assets and plans, I saw a bunch of comments and private messages with questions, so I summarized some thoughts from the past two years. This article is quite long, but there are no wealth secrets or motivational content—it's rather boring. I rarely tell the truth on this account, and this is the only article of its kind I will post. If you are a fan who cares about me or want to know more about me, you can continue reading; otherwise, please skip.

When domestic self-media portrayed me as making millions by shorting during the recent crash, while in reality I was experiencing spot drawdowns and arbitrage profits, I realized once again that the truth is not what people care about. What you see online is mostly what others want you to see. In a pyramid-structured industry—or in any industry—if you are at the bottom, my friend, what you see will always be the simplest, most widely accepted lies.

1.5 billion dollars in bitcoin seized: The collapse of Southeast Asia's "pig-butchering" empire

This article reports on the largest operation to date by US and UK law enforcement against the transnational criminal organization Prince Group of Cambodia and its leader Chen Zhi. The US Department of Justice (DOJ) seized nearly 130,000 bitcoins (worth about 15 billion dollars at the time), setting a record for the largest fund seizure in US history. The operation aims to crack down on the "pig-butchering" scam networks and modern slavery scam compounds across Southeast Asia.

Can what we're trading now still be called meme coins?

This article analyzes the continued activity in the BSC meme coin market after the "1011" liquidation storm in the crypto market, discusses the rationality of the trend, the transformation of the essence of meme coins, and calls for the establishment of a consensus evaluation system to promote the long-term healthy development of the market.

 

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