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When we look back at the history of crypto in ten years, the current stage will be known as the "Toy World Era."

The market has not yet bottomed out, so be cautious when buying the dip.





Quick Take Summary is AI generated, newsroom reviewed. Hong Kong strengthens its position as a global digital asset hub. China Asset Management's ETF will trade under ticker 03460 on HKEX. The listing provides traditional investors with regulated Solana exposure. Solana joins Bitcoin and Ethereum as a regulated crypto ETF option in the city.References according to the Hong Kong Economic Journal, the Hong Kong Securities and Futures Commission has officially approved the first Solana (SOL)
- 23:02Texas invests $10 million in bitcoin at a price of around $87,000Jinse Finance reported that Texas invested $10 million at a price of approximately $87,000 on November 20, becoming the first state in the United States to purchase bitcoin. The Texas State Auditor and Treasury investment team are closely monitoring the market. This initial investment was made through BlackRock's IBIT ETF, and in the future, Texas will self-custody its bitcoin holdings.
- 22:46Expectations for a Federal Reserve rate cut rise, with an 80% probability of a rate cut in DecemberAccording to ChainCatcher, citing Golden Ten Data, investors are increasing their bets, expecting the Federal Reserve to cut interest rates again at next month's rate decision, eliminating last week's doubts and paving the way for a rise in U.S. Treasury bonds. Open interest in futures contracts linked to the Fed's benchmark rate has surged over the past three trading days, and market pricing shows there is about an 80% probability of a 25 basis point rate cut at the Fed's December meeting. This shift in expectations began with last week's delayed release of September employment data, and New York Fed President Williams stated that there is "near-term" room for rate cuts against the backdrop of a weakening labor market.
- 22:39JPMorgan closes more accounts of crypto industry professionalsJinse Finance reported that ShapeShift executive Houston Morgan stated that JPMorgan abruptly closed his business account last Friday and notified him that his personal account would also be closed this week, citing the reason as "protecting Chase's financial institution." Morgan said the entire process was without warning, he was not asked to provide additional information, nor was he given an opportunity to appeal. This incident follows the closure of Strike CEO Jack Mallers' account, once again raising concerns about the "de-banking" of the crypto industry in the United States. JPMorgan did not respond to requests for comment.