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  • 23:41
    Overview of Major Overnight Developments on October 8
    21:00-7:00 Keywords: SpaceX, Pineapple, OranjeBTC, Remixpoint (UTC+8) 1. Spot gold broke through the $3,990 mark for the first time; 2. Analyst: The rise in gold prices is related to declining confidence in dollar assets; 3. Pineapple launched a $100 million Injective digital asset treasury strategy; 4. Elon Musk's SpaceX currently holds $1 billion worth of bitcoin; 5. CryptoQuant: Retail investor activity on a certain exchange platform is picking up again; 6. Brazilian bitcoin treasury company OranjeBTC listed on B3, holding 3,675 bitcoins; 7. Japanese company Remixpoint purchased 18.54 bitcoins, increasing its holdings to 1,368.8 bitcoins.
  • 23:41
    The U.S. Senate will vote for the sixth time on the short-term funding bill on the 8th.
    Jinse Finance reported that on October 7 local time, according to the US Congress, Senate Majority Leader and Republican Senator John Thune stated that the Senate will vote again on two short-term funding bills on the 8th, including the Republican version passed by the House of Representatives and the Democratic alternative. Thune pointed out that the failure to hold a vote that day was due to procedural order and scheduling issues. He revealed that some members from both parties had dinner together that evening to discuss the progress of the government shutdown, but did not disclose further details. This will be the sixth attempt by the Senate to pass a temporary spending bill to end the federal government shutdown, with the previous five attempts having failed. (Golden Ten Data)
  • 23:25
    JPMorgan: The widespread adoption of stablecoins is expected to boost demand for the US dollar
    Jinse Finance reported that JPMorgan stated the global adoption of stablecoins could drive trillions of dollars into the US dollar over the next few years, even though there is significant divergence in market estimates of potential demand for this digital asset. “The adoption of stablecoins is more likely to reinforce the US dollar’s position in the global financial system rather than accelerate de-dollarization,” JPMorgan’s team, including Kunj Padh, Meera Chandan, and Octavia Popescu, said in a report on Tuesday. Bank strategists have widely varying estimates for the eventual size of the stablecoin market, even within JPMorgan itself. The emerging markets equity strategy team expects the market to eventually expand to about 2 trillion dollars. The bank’s US rates strategists are more cautious, estimating a size of around 500 billion dollars. According to the upper end of this range, JPMorgan’s FX strategists estimate that by 2027, approximately 1.4 trillion dollars in additional US dollar demand will support the growth of the stablecoin market. This is a large figure, but still far below the latest statistics from the Bank for International Settlements, which show an average daily trading volume of 8.6 trillion dollars for US dollar currency pairs.
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