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4E: CPI data release is imminent, Trump trades on hold

ChainCatcher News, the U.S. October CPI report is about to be released. As the first major economic data after the election, it will clearly be a key factor influencing the future policy path of the Federal Reserve. Before this important inflation data is released, the market's rapid upward momentum has paused.According to 4E monitoring, all three major U.S. stock indexes fell on Tuesday. The Dow Jones Industrial Average closed down 0.86%, while the S&P 500 and Nasdaq ended their five-day winning streaks, closing down 0.29% and 0.09%, respectively. Among them, "Trump trade" stocks led the declines, with Tesla down 6.1% and Trump Media Group falling nearly 9%. Cryptocurrency-related stocks had mixed results, with MicroStrategy (MSTR) up 4.88% and Coinbase down 1.58%.The cryptocurrency market generally experienced a pullback, with Bitcoin slightly adjusting after breaking through the $90,000 mark to reach a new high. As of the time of writing, it was reported at $88,196, down 0.61%, while Ethereum was at $3,270, down 1.66%.In the forex market, the U.S. dollar index rose to its highest level since November 2022 on Tuesday, pushing the euro to its lowest in a year, the yen to its lowest in three months, and the offshore yuan briefly fell below 7.25 yuan, with other currencies also under pressure. Weighed down by the strengthening dollar and OPEC's fourth consecutive month of lowering global oil demand growth expectations, oil prices have dropped about 5% over the past two trading days. The rise in the dollar index has pressured gold prices down to nearly a two-month low.After the election, the market has already seen a significant rise approaching overbought conditions, and investors are beginning to consider that the main trading line in the market may shift back to the outlook for monetary policy. The U.S. October CPI report, which will be released tonight, could have a critical impact on the Federal Reserve's future interest rate cut process. Any significant surprises in the CPI report could trigger more pronounced market volatility. eeee.com is a financial trading platform that supports assets such as cryptocurrencies, stock indices, commodities like gold, and foreign exchange. Recently, it launched a USDT stablecoin financial product with an annualized yield of 5.5%, providing potential hedging options for investors. 4E reminds you to pay attention to market volatility risks and to allocate assets wisely.

A pyramid scheme organization that used "virtual currency" as a gimmick has been prosecuted and sentenced, with the amount involved exceeding 210 million yuan

According to ChainCatcher news, as shown on the official account of the Yunnan Provincial People's Procuratorate, recently, the Shidian County Procuratorate prosecuted a case involving Li and 10 others for organizing and leading pyramid selling activities. After court hearings, Li and the other 10 defendants were sentenced to fixed-term imprisonment ranging from six years to two years for the crime of organizing and leading pyramid selling activities, and were fined between 500,000 and 100,000 RMB.Since May 2021, Li has successively gathered Huang, Jin, and others, using "blockchain" and "virtual currency" as a gimmick to seek illegal profits. They set up five capital pools on an online platform under the pretext of purchasing and holding virtual digital currency A and issuing virtual digital currencies B and C. Through a combination of offline meetings and online WeChat groups, they created a successful persona, leveraged special professional backgrounds, and promoted slogans such as "one coin, one mansion; one coin, one luxury car" and "earn hundreds of thousands to millions easily in a day," widely publicizing reward systems and profit prospects. They deceived the public into obtaining membership qualifications through purchasing, destroying, and adding to the capital pools, and completing assigned tasks to receive static dividends and dynamic earnings based on the number of people developed and investment amounts, forming five levels of rebates.According to the appraisal, the pyramid selling funds collected by Li and others through the online platform amounted to over 210 million RMB. The Shidian County Procuratorate reviewed the case and found that Li used virtual currency as a gimmick, colluding with the other nine defendants to defraud property through the online platform, disrupting the economic and social order. The total pyramid selling funds exceeded 210 million RMB, and the circumstances were serious. The actions of Li and the other ten violated the provisions of Article 224-1 of the Criminal Law of the People's Republic of China, constituting the crime of organizing and leading pyramid selling activities. After court hearings, the above judgment was made.
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