Stablecoin Startup ZAR Raises $12.9 Million in Funding, Led by a16z

On October 29th, as per the report in The Wall Street Journal, the payment giant Western Union has now also entered the cryptocurrency arena. It will partner with Anchorage to issue a stablecoin on the Solana blockchain by 2026 and launch a wallet through the digital asset network.

On October 29th, based on the CME's FedWatch tool, the likelihood of a 25-basis-point rate cut by the Fed in October is 97.8%, while the probability of maintaining the interest rate unchanged is 2.2%.

October 29th. According to CCTV News, on October 28th in the local time, the U.S. Senate, with a vote result of 54 to 45, once again failed to pass a procedural vote to move forward the "Fiscal Year 2025 Continuing Appropriations and Debt Limit Extension Act" which was aimed at ending the government shutdown. The bill that was passed by the House of Representatives aims to temporarily restore government operations at the current funding levels and it requires 60 votes in the Senate to proceed. This indicates that it is the 13th vote on this bill, but it still did not reach the required threshold, meaning that the U.S. government shutdown will continue.

On October 29th, OKX President Hong took to social media and stated that recently, OKX has noticed that a certain competitor, referred to as "Certain An", has been constantly poaching OKX employees with high salaries. In response, OKX expressed its understanding and emphasized that it will respond to the competition with strength and professionalism. OKX announced the implementation of a "Competitive Offer Policy": If an employee receives a job offer from another company, they can submit it to HR for evaluation by the Talent Committee to decide whether to provide a more competitive compensation package. If the offer cannot be matched, the employee will also receive generous compensation and sincere blessings. OKX emphasized that transparency and respect are the core of the employment relationship. Additionally, the OKX President pointed out that some competitors have shown a phenomenon of "short-term poaching and quick abandonment", where many industry professionals were poached and

On October 29th, an official statement from Layer X indicated that Felix Fan, the spokesperson of Layer X, engaged in activities during his tenure that presented a conflict of interest with the company. Such behavior violated his employment contract and the company's code of professional ethics. After careful deliberation, the company has decided to promptly revoke Felix Fan's position as the spokesperson of Layer X. Starting from the time of this announcement, any statements or actions by Felix Fan do not represent the position of Layer X. The company will handle all relevant matters in accordance with relevant laws and regulations.

On October 28th, according to the monitoring of HyperInsight (accessible via https://t.me/HyperInsight), the "100% Win Rate Whale" continuously augmented its long positions. The 13x leveraged BTC long position reached $2.507 billion, the 10x leveraged ETH long position reached $1.947 billion, and the 10x leveraged SOL long position reached $25.5 million.