[Federal Reserve's Paulson: Inflation poses upside risks, employment poses downside risks] Federal Reserve's Paulson stated that inflation poses upside risks, employment poses downside risks, and monetary policy needs to be cautiously balanced.
On chain data shows that the Whale institution, which sold 70000 ETH (worth 223 million US dollars) at an average price of 3188 US dollars five days ago, resumed buying ETH today after profiting $24.48 million from short selling ETH. Five hours ago, the institution transferred $153 million in USDT to Binance and withdrew 57725 ETH (worth $162 million), with an average transaction price of $2820. At present, the institution holds 432000 ETH (worth 1.24 billion US dollars) with an average holding price of 3332 US dollars and a floating loss of approximately 200 million US dollars. (Ashes)
[Bank of Japan Governor Kazuo Ueda: Need to Monitor the Impact of Exchange Rate Changes on Inflation] Bank of Japan Governor Kazuo Ueda stated that it is necessary to monitor the potential impact of exchange rate changes on inflation expectations and core inflation.
[Russian Cryptocurrency Money Laundering Network Funds Spy Organization] The UK National Crime Agency (NCA) has revealed that Russian intelligence agencies used a cryptocurrency money laundering network to fund a spy organization led by former Wirecard executive Jan Marsalek. The organization, consisting of six Bulgarian nationals, has been convicted of espionage, surveilling journalists and political figures, and plotting assassinations. UK police stated that the network posed a significant threat before being dismantled. About a year ago, the NCA shut down two Russian money laundering networks that had transferred billions of dollars globally, one of which had attempted to fund the aforementioned spy organization.
[JPMorgan: MicroStrategy's Removal from MSCI Could Trigger Up to $11.6 Billion in Outflows] JPMorgan stated in a report that if global financial index provider MSCI removes Bitcoin 'treasury giant' MicroStrategy (MSTR) from its stock indices, it could lead to outflows of up to $2.8 billion. If other exchanges and index compilers follow suit, the total outflow could reach $11.6 billion. Analysts pointed out that the recent decline in MSTR's stock price is primarily due to market concerns over its potential removal from indices such as MSCI, Nasdaq 100, and Russell 1000, rather than a drop in Bitcoin prices. MSCI is currently evaluating whether to exclude companies whose primary business involves holding Bitcoin or other crypto assets, with such assets accounting for more than 50% of their portfolio. The final decision will be announced by January 15 next year.
[Federal Reserve Officials Take a Cautious Stance on Rate Cuts, Asset Price Risks in Focus] On November 21, several Federal Reserve officials expressed a cautious attitude toward rate cuts. Federal Reserve Governor Lisa Cook highlighted various risks facing the financial system, including the rapid growth of private credit markets, hedge fund trading in the Treasury market, and the application of generative artificial intelligence in machine trading, stating that an asset price collapse would not be surprising. Cleveland Fed President Loretta Mester opposed further rate cuts, arguing that inflation remains high and financial conditions are loose. Federal Reserve Governor Michael Barr emphasized the need for caution regarding rate cuts. Chicago Fed President Austan Goolsbee expressed concerns about another rate cut in December, stating that progress on inflation has stalled and could even worsen.