[Charles Schwab Analyst Says Fed Rate Cuts May Provide Short-Term Support for Risk Assets but Volatility Likely to Remain Elevated] Charles Schwab analyst Richard Flynn stated that the Federal Reserve is sending a cautious signal by taking preemptive action in the face of rising downside risks, particularly amid sluggish global growth and ongoing policy uncertainty. For investors, this is a measured adjustment rather than a dramatic shift. While the rate cut may provide short-term support for risk assets and drive a seasonal 'Santa Claus rally,' volatility is likely to remain elevated as the market assesses its impact on future policy and economic outlook.

[Trump Criticizes Fed's Rate Cut as Too Small and to Interview Kevin Warsh for Chair Position] U.S. President Trump on Wednesday criticized the Federal Reserve for its third consecutive 25-basis-point rate cut, calling the reduction too small and suggesting it should have been at least doubled. He accused Powell of being inflexible. Trump stated that he would interview former Fed Governor Kevin Warsh that day as a candidate for the chair position, emphasizing his view that interest rates should be significantly lowered and that he is seeking a candidate who is honest about rate issues. The selection process for the Fed chair is nearing its conclusion, with National Economic Council Director Kevin Hassett considered a frontrunner. Other finalists include Christopher Waller, Michelle Bowman, and BlackRock's Rick Rieder. A final decision may be announced within the next two weeks.

[Dollar Index Drops 0.4% After Fed Rate Cut, Largest Single-Day Decline Since September] On Wednesday, the Federal Reserve decided to cut interest rates by 0.25 percentage points. Fed Chair Jerome Powell emphasized risks in the labor market and downplayed inflation concerns. The Dollar Index closed down 0.4%, marking its largest decline since September 16. Bank of America strategist Alex Cohen stated that Powell's outlook on the labor market is less optimistic, and his comments on labor and inflation triggered the dollar's decline. Macro strategist Edward Harrison pointed out that the Fed is out of sync with increasingly hawkish central banks around the world.

The dormant Bitcoin wallet of the Satoshi Nakamoto era, which holds tens of thousands of BTC, will be reactivated in 2025, marking the "whale awakening" and a shift in long-term supply. （Cointelegraph）

[Gemini Obtains CFTC License to Launch Prediction Market, Plans Expansion into Crypto Derivatives] The U.S. Commodity Futures Trading Commission (CFTC) has officially granted Gemini Exchange a Designated Contract Market (DCM) license, allowing Gemini to launch a prediction market platform called Gemini Titan, initially offering binary event contracts. Gemini stated that it may expand in the future to crypto futures, options, and perpetual contracts regulated by the CFTC.