White House National Economic Council Director Hassett stated that the market has confidence in the new Federal Reserve Chair. The Federal Reserve will control inflation but will not stifle the economy.
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Hassett: Market Confident in New Fed Chair
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Citigroup Reports Q3 Revenue of $23.85 Billion
Citigroup reported a revenue of $23.85 billion for the third quarter, exceeding market expectations of $23.72 billion. The earnings per share for the third quarter were $2.85. The FICC sales and trading revenue for the third quarter was $4.39 billion, compared to the estimated $4.26 billion. The equity sales and trading revenue for the third quarter was $1.73 billion, slightly below the estimated $1.78 billion. Citigroup's stock fell slightly in pre-market trading. -
BlackRock ETF-Linked Wallet Transfers $203 Million to Coinbase Prime
On October 13, the BlackRock ETF-linked wallet transferred $203 million worth of Bitcoin and Ethereum to Coinbase Prime within the past hour. This includes 860.393 Bitcoins valued at $71.54 million and 52,488 Ethereums valued at $131 million. -
ADP Employment Change in the U.S. for the Week Ending September 26 Increases by 24,750
On October 13, it was reported that the ADP employment change in the U.S. for the week ending September 26 increased by 24,750, compared to the previous value of 23,750. -
Strive Acquires 3,311 Bitcoins, Total Holdings Rise to 32,773
On October 13, Strive CEO Matt Cole disclosed that the company purchased 3,311 BTC last week, bringing its total Bitcoin holdings to 32,773. -
Tether Invests in EFY Finance to Accelerate Institutional Stablecoin Adoption in Latin America
On October 13, Tether announced its investment in EFY Finance through participation in its seed funding round, aiming to accelerate the institutional applications of USD₮ and USA₮ and strengthen the infrastructure connecting stablecoins with the traditional financial system in Latin America. EFY Finance is a financial infrastructure company providing cross-border payment, account, and digital asset custody services based on stablecoins in Latin America. It offers USD₮ and USA₮ deposit and withdrawal channels, OTC services, wallets, and cards, covering over 12 currencies and channels, and settling to local accounts in 17 countries. The company holds a digital asset service provider license in El Salvador, providing regulated services to over 25,000 active individual and corporate accounts. Tether stated that EFY has a strong business foundation in Bolivia, Colombia, Mexico, El Salvador, Panama, and Ecuador. -
South Korea to Block 27 Unregistered Cryptocurrency Exchange Websites
On October 13, South Korea will block the websites of 27 unregistered cryptocurrency exchange platforms, further expanding its crackdown on overseas trading platforms beyond just mobile applications. The Financial Intelligence Unit (FIU) of South Korea announced on Tuesday that the Korea Communications Commission approved the relevant restrictions after a review from October 6 to 7. The FIU stated that websites of trading platforms operated overseas will be blocked, while platforms operating within South Korea will face service termination. -
Jump Trading Acquires Founders of Ito Markets to Establish Computing Power Trading Division
On October 13, Bloomberg reported that market maker Jump Trading has hired the founding team of a computing power trading startup as the artificial intelligence boom drives the development of related markets. According to a post by Ito Markets on platform X, Jump Trading has brought on board Affaan Mustafa and Alejandro Soumah Fernandez, the founders of Ito Markets Inc., through an 'acquihire' strategy. Ito Markets is a proprietary trading startup focused on buying and selling rights to computing power, and the two founders have joined Jump Trading to lead the newly established computing power trading division. The financial terms of the deal have not been disclosed. -
Korean Central Bank Governor: Further Appreciation of Won Beneficial for Economy, Will Maintain Restrictive Policy
On October 13, Bank of Korea Governor Rhee Chang-yong stated that further appreciation of the won would be beneficial, noting that since the central bank shifted to tightening monetary policy, the significant appreciation of the won has enhanced household purchasing power. During a dialogue with Krishna, Director of the IMF Asia and Pacific Department, at the IMF and World Bank annual meetings in Bangkok on Tuesday, he mentioned that the Bank of Korea will maintain a restrictive monetary policy stance until it is confident that inflation can return to target levels in a timely manner. Rhee also indicated that the strengthening of the won shifts economic growth momentum more towards the domestic economy, helping to alleviate the development gap he referred to as the 'K-shaped economy.' Currently, inflation, exchange rates, and financial stability factors all point in the same policy direction, making the policy trade-offs faced by the Bank of Korea easier than usual. -
Goldman Sachs Reports Q3 Net Revenue of $18.68 Billion, EPS of $17.01
Goldman Sachs reported a net revenue of $18.68 billion for the third quarter, with earnings per share of $17.01. The investment banking segment generated revenue of $3.23 billion, exceeding the estimate of $2.86 billion. Net interest income for the third quarter was $3.77 billion, surpassing the forecast of $3.61 billion. Revenue from equity sales and trading reached $6.44 billion, compared to the estimate of $5.09 billion. Additionally, FICC sales and trading revenue was $3.47 billion, slightly below the estimate of $3.72 billion. -
JPMorgan Chase Rises in Pre-Market Trading
On October 13, JPMorgan Chase (JPM.US) saw a sharp increase in pre-market trading, currently up 1.75%, after previously dropping over 3%.
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