Crypto Morning Brief: Fed cuts interest rates by 25 basis points, Stable's pre-deposit campaign Phase 2 to launch next week
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Crypto Morning Brief: Fed cuts interest rates by 25 basis points, Stable's pre-deposit campaign Phase 2 to launch next week
The Fed announced early this morning that it will end balance sheet reduction starting December 1.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Fed cuts rates by 25 basis points as expected early this morning
The Federal Reserve lowered its benchmark interest rate by 25 basis points to 3.75%-4.00% early this morning, marking the second consecutive meeting with a rate cut and in line with market expectations.
Fed announces it will end balance sheet reduction starting December 1
According to Jin10 News, the Fed said on Wednesday it will end the process of shrinking its $6.6 trillion balance sheet, as evidence shows liquidity conditions in money markets have started tightening and bank reserve levels are declining. The Fed stated that starting December 1, it will seek to stabilize its holdings of Treasury securities by reinvesting proceeds from maturing Treasuries, rather than allowing up to $5 billion in monthly runoff. The Fed also said it will maintain its current plan to allow up to $35 billion in mortgage-backed securities (MBS) to mature each month—a target not reached in over three years—but starting December 1, all principal payments from maturing MBS will be reinvested into U.S. Treasuries.
Yellen: A December rate cut is not set in stone
According to Jin10 News, Federal Reserve Chair Jerome Powell said at the press conference that the September and today’s rate cuts were risk-management moves, but future decisions may not follow the same pattern.
In his opening remarks, he delivered the most important message: "On this meeting's discussion, there were very different views within the Committee about how to proceed in December. A further reduction in the policy rate at the December meeting is not a foregone conclusion."
U.S. media: Government shutdown may see breakthrough early next week
According to Politico, after nearly a month of government shutdown, the situation appears to finally be shifting. An impending key deadline, combined with external pressure, is adding new urgency to bipartisan talks that have stalled for weeks. Senate Majority Leader John Thune, his Senate allies, House Speaker Mike Johnson, and other Republican House leaders increasingly believe that more centrist Democrats are ready to compromise on a temporary funding bill to mitigate the shutdown impact—potentially as early as next week. Republican leaders are discussing a new continuing resolution, with dozens of proposals already under consideration, including options to fund the government until around January 21 or even later into March.
Binance Wallet to launch Momentum (MMT) Pre-TGE event on October 31
According to an official announcement, Binance Wallet will launch its second Prime Sale Pre-TGE event from 5 PM to 7 PM (UTC+8) on October 31, 2025, featuring the MMTFinance (MMT) token. Participants must meet eligibility criteria and use Binance Alpha Points.
Binance to delist FLM, KDA, PERP on November 12
According to an official announcement, Binance will delist FLM, KDA, and PERP on November 12, 2025.
Stable: Second phase of pre-deposit campaign to launch next week
According to an official announcement, Stable, a stablecoin Layer 1 project, announced that the second phase of its pre-deposit campaign will launch next week.
Stable stated that this round will include restrictions such as a 24-hour countdown, a fixed total deposit cap, individual wallet deposit limits, and personal wallet requirements.
dYdX Forum Proposal: Suggests using 100% of protocol net fees for DYDX token buybacks
According to the dYdX Foundation, a new proposal has been posted on the dYdX forum suggesting that 100% of protocol net fees be allocated to DYDX token buybacks, as a three-month experimental trial (from November 1, 2025 to January 31, 2026).
Ondo Global Markets expands to BNB Chain, bringing 100+ tokenized U.S. stocks and ETFs to BNB ecosystem
According to Ondo Finance, Ondo Global Markets has officially expanded to BNB Chain, enabling over 3.4 million daily active users in the BNB ecosystem to trade more than 100 tokenized U.S. stocks and ETFs on-chain. This marks another significant step in Ondo’s mission to democratize access to high-quality U.S. financial assets through blockchain technology, making it the first tokenization platform to bring tokenized stocks and ETFs at scale to BNB Chain.
This expansion builds on Ondo’s cross-chain strategy, which currently supports Ethereum and plans deployment on additional blockchains to ensure seamless movement of tokenized assets across major networks.
Notably, as the world’s largest tokenized securities platform by TVL, Ondo Global Markets surpassed $350 million in TVL within weeks of launching in September, more than double the combined size of all other platforms, with total on-chain trading volume reaching $669 million. The platform’s strong momentum reflects growing global investor demand for U.S. financial assets, as investors seek trusted, compliant, efficient, and decentralized alternatives to traditional intermediaries.
Bubblemaps: MEGA presale shows signs of Sybil attacks, with over 20 entities using multiple wallets to bypass max allocation limit
According to Bubblemaps, Sybil attack activity was detected during the MEGA token presale on MegaETH. MegaETH’s presale rules clearly stipulate one wallet per user, with a maximum bid amount of $186,000, requiring identity verification via the Echo platform.
Bubblemaps found that approximately 20 entities used multiple linked wallets to exceed the $186,000 cap. One notable case showed wallet address 0x9f5c receiving funds from Kraken a day earlier, then distributing them across three newly created wallets, ultimately using four addresses to submit a total of $600,000—triple the allowed allocation.
Mastercard plans to acquire crypto infrastructure firm Zerohash for up to $2 billion
According to Fortune, Mastercard is in late-stage talks to acquire Zerohash, a startup focused on cryptocurrency and stablecoin infrastructure, in a deal valued between $1.5 billion and $2 billion. Five sources familiar with the matter said the deal could still fall through, but if completed, it would represent one of Mastercard’s biggest bets in the stablecoin space.
Founded in 2017, Chicago-based Zerohash specializes in building stablecoin and blockchain infrastructure, including payment and cryptocurrency trading capabilities. The company raised $104 million in September at a $1 billion valuation, with investors including Interactive Brokers, Apollo, Point72 Ventures, and Nyca.
Beijing prosecutors reveal illegal forex trading case involving cryptocurrency: 5 sentenced, over 1.1 billion yuan involved
According to 21st Century Business Herald, the Beijing People's Procuratorate released "Typical Cases of High-Quality Financial Prosecution," disclosing a criminal case of illegal foreign exchange operations using cryptocurrency as the transaction medium.
The case revealed that from January to August 2023, Lin Moujia and four others used multiple bank cards to receive RMB funds from clients, converted the RMB into USDT through multiple controlled USDT exchange accounts, and completed cross-border fund transfers, effectively engaging in unauthorized foreign exchange trading. The group’s total illegal business volume reached over 1.182 billion RMB.
On March 21, 2025, the Haidian District People's Court of Beijing issued a first-instance ruling, sentencing all five defendants to prison terms ranging from two to four years for illegal business operations, along with corresponding fines. All defendants pleaded guilty and accepted punishment, did not appeal, and the ruling has now taken legal effect.
Market Trends
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