SpaceX's proposed $40 billion AI funding round has hit a snag due to credit market volatility and the complexity of its financing structure. Investors are reassessing the risks, and Goldman Sachs is leading talks with investors led by Apollo Global Management. (Source: Bloomberg)

[RBA Assistant Governor Hunt Says Anti-Inflation Rate Hike Process Is Not Over] Reserve Bank of Australia (RBA) Assistant Governor Hunt stated that the bank's fight against inflation is not over, and sufficient measures have not yet been taken to curb inflation. The Board of Governors has implemented four interest rate hikes this year to address the inflation challenge. RBA Deputy Governor Hauser stated that the current inflation outlook has deteriorated significantly compared to the August assessment. In late September, the RBA raised interest rates to 4.6%. (Source: Jinshi Data)

Bitmine Chairman Tom Lee stated that currently, approximately 99% of financial activity operates on traditional financial infrastructure, and investors and businesses are underestimating the growth potential of the crypto market. Financial institutions are ignoring the speed at which the traditional financial system is transitioning to crypto infrastructure, and banks that have not established crypto businesses or related infrastructure will face a competitive disadvantage.

Crypto analyst Ali stated that the number of wallets holding 10 million to 100 million XRP has decreased from 351 to 339, while the amount of XRP held by exchanges has increased by approximately 50 million to 11.05 billion. If XRP falls below the $1.26 support level, the price may first drop to $1.11, and then reach $0.98.

The Office of the Comptroller of the Currency (OCC) has finalized the GENIUS Act stablecoin regulatory rules, covering reserve backing, redemption, and risk management. Applicable to issuers and regulated entities of licensed payment stablecoins, the rules will take effect on January 18, 2027. Treasury Secretary Bessant called the GENIUS Act a watershed moment for the U.S. financial industry, establishing a federal framework for digital-age payment stablecoins. The final rules do not include provisions for bank secrecy laws, anti-money laundering, or OFAC sanctions. The GENIUS Act is expected to be signed into law in July 2025, and the Federal Reserve has proposed two related rules in September 2026.