In the past hour, total liquidations across the network reached $44.34 million, with $30.27 million from long positions, with $14.07 million from short positions. BTC liquidation $18.04 million, ETH liquidation $11.98 million.

According to a New York Times financial reporter, as reported by Odaily Planet Daily, investor bets on a December rate cut by the Federal Reserve have already cooled this week. Current market implied probability suggests only about a 30% chance of the Fed lowering rates by 25 basis points in December. (Jinshi)

Odaily Planet Daily reports that cryptocurrency lawyer Khurram Dara has announced his candidacy for New York State Attorney General. He will compete against his "anti-cryptocurrency" rival, Letitia James. Dara stated that his campaign will end the New York Attorney General's office's crackdown on the cryptocurrency industry, curb excessive regulation, and revitalize New York as a hub for innovation. Under New York State nomination rules, Letitia James needs 25% of the vote at the Republican National Convention in February 2026, or enough petition signatures to secure primary eligibility. (Cryptoinamerica)

Odaily Planet Daily reports that Federal Reserve Chairman Hamack stated that stablecoins and private lending warrant attention, and he also believes that hedge funds and life insurance companies have excessively high leverage levels. Current financial conditions are "quite loose." Cutting interest rates now could distort market pricing levels. There is a risk that cutting rates could prolong high inflation. Rate cuts for risk management purposes could increase financial stability risks. (Jinshi)

Odaily Planet Daily reports: Federal Reserve's Hamack stated that interest rate cuts could prolong high inflation and encourage risk-taking in financial markets, while banks are currently well-capitalized. Cutting rates now could distort market pricing levels. (Jinshi)