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Hines, the Executive Director of the White House Crypto Council, will step down and be succeeded by Patrick Witt, as he transitions to a private sector role while advising on AI policy alongside David Sacks.
VIPBitget VIP Weekly Research InsightsThe cryptocurrency market has recently seen increased volatility, driven by macroeconomic policies, global trade tensions, and expectations the Federal Reserve's monetary policy. Although some indicators came in weak, investor sentiment improved as market expectations for a September rate cut rose sharply. Meanwhile, the slowdown in tariff adjustments has helped ease major trade frictions in the short term, with no signs of systemic risk emerging for the time being. On the crypto side, BTC turnover has fallen as many short-term traders exit the market, leading to more stable price movements. The altcoin sector continues to underperform due to a lack of sustained narratives. Despite the surge in memecoins, high-quality projects remain scarce. Large volumes of capital are cycling in and out quickly, making it difficult to invest effectively. With short-term uncertainty still high, many investors are allocating part of their portfolios to stablecoin-based Earn products. Alongside leading DeFi protocols such as Aave and Compound, platforms like Bitget offer diversified, high-yield stablecoin opportunities, providing investors with more avenues to preserve and grow their assets.
Ethena’s USDe records $5.7B in cross-chain volume, ranking third among synthetic dollars by market cap.Climbing the Synthetic Dollar RankingsImplications for DeFi and the Stablecoin Market
- 17:00STBL updates roadmap, anchoring mechanism expected to launch by the end of NovemberJinse Finance reported that STBL founder Avtar Sehra stated on X that STBL is executing its roadmap as planned, focusing on delivery. STBL plans to gradually increase minting volume when it launches and calibrates its anchoring system at the end of November. Other items on the roadmap include: multi-staking; buyback (buyback with USST, enhancing USST yields through MFS); anchoring mechanism (expected to launch at the end of November and be calibrated in December); and the anchoring stability system (November/December). In the first month, STBL mainly focused on building and testing modules that support a sustainable market-driven system. November and December will mark the transition from building to balancing, as STBL will launch anchoring and enable market calibration.
- 16:17Aave V4 to support new collateral asset classes, including stocks, ETFs, and real estateChainCatcher News, Aave founder Stani Kulechov stated on social media that Aave V4 will unlock a whole new category of collateral assets for DeFi, including: cryptocurrencies, stocks, ETFs, various types of funds, bonds and fixed income products, private credit, real estate and mortgages, commodities, and accounts receivable.
- 16:16Data: If ETH falls below $3,678, the total long liquidation volume on major CEXs will reach $1.695 billions.According to ChainCatcher, citing data from Coinglass, if ETH falls below $3,678, the cumulative long liquidation intensity on major CEXs will reach $1.695 billions. Conversely, if ETH breaks above $4,061, the cumulative short liquidation intensity on major CEXs will reach $911 millions.