US President Trump has nominated Michael Selig, a pro cryptocurrency lawyer, to serve as the chairman of the Commodity Futures Trading Commission (CFTC), a move that could have significant implications for cryptocurrency regulatory policies. （Cointelegraph）
OKX-ETH/USDT is currently trading at $3897.08, with a 5-minute increase of 0.06%. Please be aware of market fluctuations.
[U.S. Senator Warren's Lawyer Responds to Defamation Allegations by Changpeng Zhao: Statements Are Well-Founded] On November 2, 2025, the lawyer for U.S. Senator Elizabeth Warren issued a statement in response to defamation allegations made by Binance CEO Changpeng Zhao, asserting that the statements in question are fact-based and do not constitute defamation. The lawyer emphasized that Changpeng Zhao pleaded guilty in 2023 to violating the U.S. Bank Secrecy Act, admitting to failing to establish effective anti-money laundering mechanisms, which constitutes a criminal offense. The statement referenced a press release issued by the U.S. Department of Justice on November 21, 2023, confirming that Binance and Changpeng Zhao pleaded guilty to charges of violating the Bank Secrecy Act, illegal money transfers, and sanctions violations, agreeing to pay over $4 billion in fines. Warren's team pointed out that the plea agreement and press release publicly disclosed by the Department of Justice support the related statements made on social media.
[Probability of Fed Rate Cut in December Reaches 69.8%] According to data from the CME FedWatch Tool, the probability of the Federal Reserve cutting interest rates by 25 basis points in December this year is 69.8%, while the probability of maintaining rates unchanged is 30.2%. Looking ahead to January next year, the probability of the Fed cumulatively cutting rates by 25 basis points is 56.6%, the probability of maintaining rates unchanged is 20.2%, and the probability of cumulatively cutting rates by 50 basis points is 23.2%.
[Over 95% of Cryptocurrency Mining Equipment in Iran Operates Illegally] Iranian authorities estimate that out of the 427,000 active cryptocurrency mining devices in the country, over 95% are operating without authorization. Akbar Hasan Beklou, CEO of Tehran Province Electricity Distribution Company, stated that Iran has become the world's fourth-largest cryptocurrency mining hub, primarily due to electricity subsidies attracting illegal miners. These illegal devices consume over 1,400 megawatts of electricity daily, severely impacting the stability of the national power grid. Beklou pointed out that most illegal miners disguise themselves as industrial facilities to obtain low-cost electricity.
Member indicators show that the current price is below the EMA24 and EMA52 moving averages, and the moving averages are bearish, indicating that the short-term downward trend has not changed. Meanwhile, the distribution of chips indicates that $3857.5 is a strong support level, and if it falls below, it may further explore $3846. Combined with the K-line pattern, a cross star appears in the latest 1-hour cycle, exacerbating market hesitation and making direction choices urgent. Although the MACD bar chart shows an increase in upward momentum, the KDJ dead cross signal suppresses the rebound space. The resistance of $3869 is significant and needs to be broken through to alleviate downward pressure. Open a membership, obtain accurate support resistance calculation, and lock in trading opportunities in advance! The data is sourced from the PRO member's [ETH/USDT Binance 1-hour] K-line, for reference only, and does not constitute any investment advice.