Pan Gongsheng, Governor of the People's Bank of China, stated at the 2025 Financial Street Forum Annual Meeting today that in recent years, virtual currencies issued by market institutions, especially stablecoins, have continued to emerge, but overall they are still in the early stages of development. International financial organizations and financial regulatory authorities such as central banks generally hold a cautious attitude towards the development of stablecoins. Ten days ago, at the IMF/World Bank Annual Meeting held in Washington, stablecoins and the potential financial risks they may pose became one of the most discussed topics among finance ministers and central bank governors from various countries. The common view mainly focuses on the fact that stablecoins, as a financial activity, currently cannot effectively meet the basic requirements in terms of customer identification, anti-money laundering, etc., amplifying the loopholes in global financial regulation, such as money laundering, illegal cross-border fund transfers, terrorist financing, etc. The market speculation and speculation atmosphere is strong, increasing the vulnerability of the global financial system and impacting the currency sovereignty of some underdeveloped economies. Since 2017, the People's Bank of China, together with relevant departments, has successively issued multiple policy documents to prevent and deal with the risks of speculation in domestic virtual currency trading, and these policy documents are still effective. Next, the People's Bank of China will continue to crack down on the operation and speculation of domestic virtual currencies in cooperation with law enforcement agencies, maintain economic and financial order, and closely monitor and dynamically assess the development of stablecoins overseas. (Financial Frontline)

 Gina Bolvin, President of Bolvin Wealth Management Group, expects the Fed to cut interest rates by 25 basis points this week and in December. She said that in order to significantly reduce long-term US bond yields, there must be clear evidence that the Fed's interest rates are heading towards the 2% level. Bolvin pointed out that the biggest risk facing the market at the moment is that if employment remains resilient, policies supporting economic growth may put pressure on inflation, and the Fed may not need to cut interest rates as expected by the market, causing the bond market to need to be repriced.

 according to the data of the Hong Kong stock market, as of the close, the turnover of 6 Hong Kong virtual asset ETFs today was 40.8242 million Hong Kong dollars, including: Huaxia Bitcoin ETF (3042.HK) with a turnover of 19.52 million Hong Kong dollars, Huaxia Ethereum ETF (3046.HK) with a turnover of 15.1 million Hong Kong dollars, Jiashi Bitcoin ETF (3439.HK) with a turnover of 0.7419 million Hong Kong dollars, Jiashi Ethereum ETF (3179.HK) with a turnover of 0.5322 million Hong Kong dollars, Boshi HashKey Bitcoin ETF (3008.HK) with a turnover of 2.22 million Hong Kong dollars, and Boshi HashKey Ethereum ETF (3009.HK) with a turnover of 2.71 million Hong Kong dollars.

On October 27th, according to Cryptoquant data, Evernorth Holdings has accumulated 388,710,606.03 XRP (about 9.94 billion US dollars), becoming one of the major XRP institutional investors. The company, backed by Ripple, plans to go public through a SPAC merger with Armada Acquisition Corp II (NASDAQ: AACI), aiming to raise over 1 billion US dollars to expand its XRP reserves.

US Treasury Secretary Benson confirmed on Monday that the list of five final candidates to replace Federal Reserve Chairman Powell has been finalized, and expects Trump to make a decision before the end of the year. Benson told reporters on "Air Force One" on Monday that the candidate pool has narrowed down to current Federal Reserve Board members Waller and Bowman, former Federal Reserve Board member Wash, White House National Economic Council Director Hassett, and BlackRock executive Reed. Benson, who is in charge of the interview process for the position, reiterated that he plans to conduct a new round of interviews and hopes to submit a "list of excellent candidates" to Trump after the Thanksgiving holiday. Trump himself also told reporters that he expects to make a decision on the nomination before the end of the year. (FXStreet)

 the bankrupt cryptocurrency exchange Mt. Gox has once again postponed its repayment deadline for another year to October 2026. The restructuring trustee of Mt. Gox announced on Monday that it has "substantially completed" the basic repayment, early lump-sum repayment, and midterm repayment of all creditors who have successfully completed the repayment eligibility process. However, the announcement stated that many creditors have not yet received repayment due to failure to complete necessary procedures or problems during the process. "In order to make repayments to such restructuring creditors within a reasonable and feasible range, with the permission of the court, the repayment deadline has been changed from October 31, 2025 to October 31, 2026." This latest announcement marks the third time the repayment deadline for the defunct exchange has been postponed, originally set for October 31, 2023.

 according to on-chain analyst Ai Yi (@ai_9684xtpa), the whale with a 100% winning rate urgently added 1 million USDC collateral to the opponent's position two hours ago, raising the liquidation price of its BTC short to $118,409. Currently, it has a floating loss of $4.07 million, with a $2,400 gap from the liquidation price.

 according to market data, the price of Binance Alpha's SnapX (XNAP) airdropped coins is currently at 0.078 US dollars, with a market value of 21.96 million US dollars. Each eligible user can receive 500 XNAP token airdrops, and the single number income from this airdrop activity is approximately 39 US dollars calculated at the current price.

the Federal Reserve will hold a monetary policy meeting on October 28-29, and the market generally expects that the overall situation of the Fed's rate cut in October has been determined. Polymarket shows that the probability of a 25 basis point rate cut by the Fed in October has reached 98%. At the same time, traders have started betting on a rate cut by the Fed in December, with Polymarket showing a 90% probability of a 25 basis point rate cut by the Fed in December.

US President Trump has ruled out the possibility of running as a vice presidential candidate in the 2028 election, with some of his supporters urging him to find a way to circumvent the constitutional provision that limits the president to two terms. "Too cute," Trump told reporters on Air Force One on Monday, saying he has ruled out this possibility.