On October 15, cryptos rose significantly on Monday, with market sentiment slightly declining today as of the time of writing.$Bitcoin (BTC.CC)$ Still maintaining the high level above $65,000, trading at $65,378.86; $Ethereum (ETH.CC)$ priced at $2,605.30.

Key Focus

• BlackRock CEO: Bitcoin itself is an asset class and is discussing with institutions globally on how to allocate assets.

Bloomberg's senior ETF analyst Eric Balchunas revealed on X platform that BlackRock CEO Larry Fink stated in the third-quarter earnings call: 'I am unsure if the (U.S.) President or other candidates will have a significant impact on the situation. But I do believe that the use of digital assets will become increasingly popular globally. We are in dialogue with institutions worldwide discussing how they should view digital assets and how to allocate assets.'

I believe that bitcoin itself is a type of asset, serving as an alternative to gold and other csi commodity equity index. Therefore, I think the application of this investment form will expand to ethereum and other blockchain technologies, as the blockchain sector can grow significantly. Therefore, if we can improve the acceptance, transparency, and relevant analysis of these assets, their application scope will expand. However, I do not think this entirely depends on tighter or looser regulations. I believe it depends more on the combination of liquidity and transparency.

Just as years ago when we started developing the mortgage market and high-yield market, progress was initially slow, but as we established better analysis and data systems, the market gradually gained more recognition and continued to expand in scale. I firmly believe that we will witness the vigorous development of these digital asset markets.

Next, we will see how each country views its own digital currency. This is a fundamentally different asset from bitcoin itself. However, I believe that as we establish better analysis, we will witness certain issues such as regulatory matters, how we perceive the role of a digital US dollar in this country, and what role it plays? These are fundamentally different questions from bitcoin and similar matters. But all these issues will be discussed.

In other countries, we have witnessed significant success in the digitization of currency in countries like india, brazil, and others, each with different reasons. However, we believe that these blockchain technologies will generate significant added value. Then, combined with ai and better data analysis, the applicability and scope of these markets will expand.

• Jefferies Financial: Miners' bitcoin mining profits declined in September, making October even more challenging.

According to CoinDesk, Jefferies' research shows that Bitcoin mining profits decreased in September, despite relatively stable Bitcoin prices, network hash rate increased by about 1.7%. The bank pointed out that the average daily income per Exahash decreased by 2.6%. In addition, October may be more difficult for miners, despite a 5% increase in Bitcoin prices, network hash rate increased by 11%, putting further pressure on income. The report also shows that the mining share of listed companies in North America increased from 19.9% in August to 22.2% in September, with Marathon Digital mining the most Bitcoins, producing 705, followed by CleanSpark (CLSK) with 493.

• Christopher Hui Ching-yu: Hong Kong Securities and Futures Commission will promote the implementation of a licensing system for virtual asset trading platforms.

Dr. Huang Tianyou was appointed as the Chairman of the Hong Kong Securities and Futures Commission on Monday. Hong Kong Financial Secretary Chen Maobo stated that under Dr. Huang's leadership, the Commission will continue to play the dual role of regulator and market developer, ensuring the fair, transparent, and orderly operation of the local securities and futures markets. The Commission will focus on reform and innovation to consolidate and enhance Hong Kong's status as an international financial center. The SFC also continues to promote the development of regulatory systems, such as implementing a licensing system for virtual asset trading platforms, allowing them to develop responsibly. The Commission also actively participates in international regulatory cooperation and standard setting.

• Trump economic advisor: Potential new government will support a strong US dollar, or restrict the rise of cryptocurrencies

Trump economic advisor Scott Bessent told the Financial Times on Sunday that a potential new U.S. government led by Donald Trump will support a strong US dollar, consistent with U.S. policy for decades, easing concerns about a devaluation of the dollar during Trump's presidency. Bessent said, "Reserve currencies can fluctuate based on market conditions. I believe if you have good economic policies, you will naturally have a strong US dollar." In other words, the potential Trump presidency, while likely to have a positive impact on digital assets, may feature a strong dollar, which often restricts the rise of high-risk assets priced in dollars such as cryptocurrencies.

• Galaxy: Harris is more crypto-friendly than Biden but less so than Trump on cryptocurrency policies.

According to Galaxy Research's analysis, US presidential candidate Kamala Harris is more crypto-friendly than current President Biden but less so than Trump on cryptocurrency policies. Harris vows to improve the regulatory environment for the US crypto industry but takes a more cautious stance on issues like taxation, Bitcoin mining, and self-custody, while Trump supports Bitcoin mining and promises to protect the right to self-custody. Nevertheless, Harris's policies may be more constructive than Biden's.

• Harris' speech did not provide more details on the 'regulatory framework' for cryptos.

According to CoinDesk, US Vice President Kamala Harris heavily promoted her 'opportunity agenda' in a campaign speech on Monday night, but did not elaborate on what this means for digital assets. Earlier in the day, the campaign team released a broad agenda, including her first substantive policy position on cryptocurrencies, but anyone hoping to learn more details from her speech in Erie, Pennsylvania would be disappointed. Harris did not even casually mention 'blockchain' or 'digital assets' as she has done in the past, let alone cryptocurrency. In her speech on Monday night, she said: 'We will build a future of opportunity where everyone can compete, where everyone has a real shot not just to survive, but to thrive.'

• The whitelist registration for the crypto project WLFI supported by the Trump family has exceeded 0.1 million.

According to The Block, World Liberty Financial (WLFI), a decentralized financial project supported by the Trump family, announced that its whitelist registration has exceeded 0.1 million and has hired Paxos co-founder Rich Teo as head of stablecoins and payments, although it is currently unclear whether he has left his position at Paxos. WLFI's token, WLFI, will officially go on sale on October 15th, aiming to raise 0.3 billion US dollars with a total token valuation of 1.5 billion US dollars. A 'white paper' will also be released on Tuesday. The first phase of WLF's plan is to launch a decentralized lending platform similar to Aave on the Ethereum Layer 2 network Scroll, supporting lending transactions for Bitcoin, Ethereum, and stablecoins. Subsequent phases include integration with exchanges, user KYC verification, and the division and compliance operations of real assets. Donald Trump Jr. criticized the traditional banking system in the United States, calling it a 'Ponzi scheme' and emphasizing that decentralized finance can bring a more inclusive financial system. Regarding token distribution, 63% of WLFI tokens will start being sold to the public on Tuesday, October 15th. The remaining 17% will be used to reward users, and 20% for team compensation. WLFI will be available to qualified investors in the United States, qualified investors in the United Kingdom, and investors outside these countries.

• Santiment: After bitcoin surpassed $66,000, the market is gradually becoming optimistic.

According to Santiment on Platform X, as bitcoin rose earlier this week and briefly surged above $66,000, traders are looking for opportunities in the GameFi and Memecoin sectors. The increasing discussion rates between these altcoin sectors indicate a sustained rise in interest levels. Historically, this suggests that public sentiment towards the market is gradually turning optimistic. With the market having risen for 5 consecutive weeks, it is expected that mild FOMO will continue to exist, leading to more speculative assets triggering increasingly more discussions until a correction once again injects fear into the crowd's narrative.

Editor/rice