The US Securities and Exchange Commission (SEC) has issued a no objection letter to Fuse Crypto, a decentralized IoT project based on Solana, confirming that its token is not considered a security as it is based on utility value rather than profit expectations. （Cointelegraph）
[Pump.fun Co-Founder Denies Cashing Out USDC via Kraken] In response to Lookonchain's accusation that 'Pump.fun has cashed out at least 436.5 million USDC via Kraken since October 15,' Pump.fun co-founder Sapijiju stated that the claim is completely false. He emphasized that Pump.fun has never cashed out or participated in the transactions between Kraken and Circle as alleged by Lookonchain. Sapijiju explained that these funds are USDC obtained from the PUMP ICO, which have been transferred to different wallets for reinvestment in company operational funds. He further added that Pump.fun has never directly collaborated with Circle.
[Morgan Stanley: Fed Rate Cuts May Drive Yen to Appreciate Nearly 10% in the Coming Months] Morgan Stanley strategists stated that if the Federal Reserve implements consecutive rate cuts due to a slowdown in the U.S. economy, the yen could appreciate nearly 10% against the dollar in the coming months. The strategists pointed out that USD/JPY has deviated from its fair value, and if it returns to fair value, the USD/JPY exchange rate will decline in the first quarter of 2026, as falling U.S. Treasury yields may suppress fair value. Meanwhile, Japan's fiscal policy is not particularly expansionary. Morgan Stanley expects USD/JPY to drop to around 140 in the first quarter of 2026, then rebound to around 147 by the end of the year. They also anticipate that the U.S. economy will recover in the second half of next year, with a resurgence in carry trade demand potentially putting renewed pressure on the yen.
[Over 300 U.S. Families Sue Binance, Accusing It of Providing Trading Services to Hamas] Binance is facing a new lawsuit over allegations that it created a cryptocurrency trading system between 2017 and 2023 that allowed transactions related to Hamas. More than 300 U.S. families of individuals killed or injured in Hamas attacks have filed a lawsuit in federal court in North Dakota. The plaintiffs accuse Binance's corporate structure and compliance practices of enabling users associated with terrorist organizations to transfer funds through the exchange, citing issues such as weak customer verification, mixed-asset consolidated wallets, and limited oversight in internal communications. The plaintiffs' attorney stated that Binance not only provided financial services to Hamas but also sought to shield related clients and funds from scrutiny by U.S. regulators and law enforcement agencies.
[Spot SOL ETF Net Inflow of $57.99 Million Yesterday] The spot SOL ETF saw a net inflow of $57.99 million yesterday, with the Bitwise SOL ETF (BSOL) recording a single-day net inflow of $39.47 million, bringing its historical total net inflow to $484 million. The Fidelity SOL ETF (FSOL) recorded a single-day net inflow of $9.74 million, with its historical total net inflow reaching $22.55 million. As of press time, the total net asset value of the Solana spot ETF stands at $844 million, with Solana's net asset ratio at 1.09%, and the historical cumulative net inflow reaching $568 million.
[Federal Reserve's Daly Warns Against Delaying Rate Cuts, U.S. Dollar Index Remains Weak] Federal Reserve's Daly warned against delaying rate cuts, with her dovish remarks boosting market expectations for rate cuts. The U.S. Dollar Index remains weak above the 100 level. Meanwhile, some opinions suggest that global easing policies have reached their peak, issuing a 'liquidity peak' alert.