Wu says daily selection of encryption news - Fed's Williams: There is still room for further rate cuts in the near future.

1.Fed's Williams: There is still room for further rate cuts in the near term.

John Williams, the President of the New York Fed, stated that he supports the previous two rate cuts and believes that the Fed still has room to further lower the federal funds rate range “in the near term” to bring the policy stance closer to neutral. He noted that the risks of weakening employment are rising, while the risks of worsening inflation have “eased somewhat.” Reports indicate that there are significant divisions within the Fed regarding whether to continue lowering rates in December, with the final decision likely to be made by Chairman Powell.

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2. Strategy still profits over 6.1 billion USD, Bitmine and Forward deeply in the red.

With the market downturn, the book gains and losses of three major DAT companies have changed. Strategy holds 649,870 BTC (with an average cost of about $74,433), which still has approximately $6.15 billion in unrealized gains; Bitmine holds 3.5599 million ETH (with an average cost of about $4,010), with an unrealized loss of about $4.52 billion; Forward Industries holds 6.8345 million SOL (with an average cost of about $232.08), with an unrealized loss of about $711 million.

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3. QwQiao warns of bear market risks: “dumb money” rushes to buy in, and the market may drop another 50%.

Alliance DAO co-founder QwQiao reiterated his view on Twitter that the next bear market (when it will arrive is unknown) will be worse than most people expect. There is now a large group of “dumb money” that knows nothing about crypto buying spot and ETFs. Such a situation never has a good outcome. Before these people liquidate their positions, the market may need to drop about 50% more, after which a solid foundation can be formed to re-enter a super bull market cycle. In addition, Placeholder partner Chris Burniske tweeted that the era of DAT sales has just begun, and just as it went up all the way, it will also go down all the way.

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4. Suga Yoshihide's cabinet approved an economic stimulus plan worth approximately $135.4 billion.

Japanese Prime Minister Sanae Takaichi's cabinet approved an economic stimulus plan worth 21.3 trillion yen (approximately 135.4 billion USD) on Friday. The plan includes 17.7 trillion yen in general account expenditures, significantly higher than last year's 13.9 trillion yen, making it the largest fiscal stimulus since the COVID-19 pandemic. Additionally, tax reduction measures amounting to 2.7 trillion yen will also be implemented.

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