ChainCatcher news, according to Jin10, the final annualized quarterly rate of the actual GDP in the United States for the third quarter recorded 3.1%, while the previous forecast was 2.8%. The final quarterly rate of actual personal consumption expenditures for the third quarter rose to 3.7%. These data reinforce the view that, despite market expectations of a slowdown in the U.S. economy, it is still growing strongly.The Federal Reserve previously hinted that the pace of interest rate cuts in 2025 will slow down, triggering a sell-off in the stock market, which is partly based on recent stronger-than-expected economic data.

ChainCatcher news, Grayscale has released a classification framework for the cryptocurrency industry, dividing the digital asset market into five major sectors: Currencies, Smart Contract Platforms, Financials, Consumer & Culture, and Utilities & Services.The report shows that despite Bitcoin's significant rise this year, the overall trend of crypto asset categories is divergent. The currency assets include Bitcoin, XRP, and Zcash; the smart contract platforms include Ethereum, Solana, and Polygon; the financials include Maker, Uniswap, and Aave; the consumer culture sector includes ApeCoin, Decentraland, and Sandbox; and the infrastructure services include Chainlink, Filecoin, and Lido DAO.

ChainCatcher news, according to Jinshi reports, billionaire Elon Musk has called for the abolition of the Consumer Financial Protection Bureau (CFPB), highlighting that this long-targeted regulatory agency by the Republican Party and business advocacy groups will face new threats under the Trump administration. Musk stated on social media on Wednesday, "Abolish the CFPB, there are too many overlapping regulatory agencies."Musk's comments are noteworthy as he will be working with the "Department of Efficiency" led by the Trump administration, which aims to cut federal bureaucracy and reduce government spending. After the outbreak of the 2008 financial crisis, the CFPB was tasked with overseeing certain responsibilities of the financial industry that interact with consumers. The agency has faced multiple legal challenges since its establishment.

ChainCatcher news, this month American consumer confidence has changed little, overall, the stability of American consumer confidence this month masks the pattern of division between parties.Similar to the situation in November 2020, this month the expectations index for Republicans soared, while the expectations index for Democrats declined, reflecting the differing views of the two parties on how Trump's policies will affect the economy. In contrast, changes in the current situation among political factions this month are minimal, which aligns with the fact that the election results had almost no immediate impact on the current economic situation.Ultimately, there remains significant uncertainty regarding the future implementation of Trump's economic agenda, and consumers will continue to adjust their views in the coming months. The inflation expectation for the next year has slightly decreased from 2.7% last month to 2.6% this month. The current reading is the lowest since December 2020, falling within the range of 2.3%-3.0% seen in the two years prior to the pandemic. Long-term inflation expectations have risen from 3.0% last month to 3.2% this month.

ChainCatcher news, according to The Block, the Consumer Financial Protection Bureau (CFPB) finalized a rule this Thursday that grants it the authority to regulate "large non-bank companies," but explicitly excludes crypto assets. The CFPB stated that this rule only applies to transactions denominated in U.S. dollars.The new rule is titled "Defining Larger Participants in the Market for General Digital Consumer Payment Applications" and applies to non-bank financial companies that process more than 50 million transactions annually, requiring them to comply with the same rules as large banks and credit unions. The CFPB emphasized that the definition of "annual covered consumer payment transaction volume" is limited to transactions denominated in U.S. dollars and does not include digital assets such as Bitcoin and stablecoins.The crypto industry and some Republican lawmakers had previously expressed concerns about the potential impact of the rule on crypto assets. The DeFi Education Fund welcomed this and stated that the regulation of digital assets should be led by Congress, not regulatory agencies.

ChainCatcher news, during the "DeInsight 2024" annual summit held in Bangkok at Devcon, Layer2 infrastructure MegaETH co-founder Shu Yao shared a keynote speech titled "MegaETH: Building the First Real-Time Blockchain Network."Since 2020, the two main scalability roadmaps advocated by Ethereum founder Vitalik Buterin, OP Rollup and ZK Rollup, have seen innovations occurring at the consensus layer. Although both have their advantages, they have not resolved performance issues, primarily due to the lack of consensus on sequencer validation. MegaETH aims to address these problems.Shu Yao stated that MegaETH is building a Layer2 solution that integrates ultra-high throughput, extremely low latency, and EVM compatibility, aiming to accelerate Ethereum's journey towards the ultimate form of scalability.Shu Yao mentioned that the MegaETH network can process up to 100,000 transactions per second (TPS) with sub-millisecond ultra-low latency, aiming to create the first real-time block network.She explained that the ultra-low latency of the block network means that all applications can run in real-time, which is extremely important for consumer applications. The extremely low latency will unlock previously unimaginable consumer applications.For more content from the conference, please check the following links:Video live stream link:https://www.youtube.com/live/tTVcUPumPysImage live stream link:https://www.pailixiang.com/album_ia7637038926.html

ChainCatcher news, according to Jinshi reports, buoyed by Americans' optimism about the future economic and financial situation, the U.S. Consumer Confidence Index rose to its highest level in seven months in November. The preliminary Consumer Confidence Index from the University of Michigan for November increased to 73, above the expected 71. The expectations index soared to 78.5, the highest since mid-2021. The optimistic outlook also reflects Americans' expectations for slowing inflation. Consumers expect prices to rise by 2.6% next year, the lowest level since 2020.However, the inflation expectations for the next 5 to 10 years rose to 3.1%. The survey was conducted from October 22 to November 4. Survey director Joanne Hsu said, "Consumers have consistently indicated that the future of the economy depends on who wins the presidential election. Looking ahead, the economic policies of the next administration may become the most concerning issue for consumers regarding inflation and could drive their confidence trajectory in economic performance." The personal financial expectations index rose to its highest level since March, partly due to improvements in personal financial conditions. Confidence in long-term business conditions surged to a nearly four-year high.

ChainCatcher news, according to Jinshi reports, the CFO of American Express stated that the Federal Reserve's rate cuts are insufficient in magnitude and timing to affect consumer patterns.

ChainCatcher news, hosted by Mask Network, OKX Web3, 7Up DAO, Tencent Cloud, and AWS Startups, recently announced that it will provide a total of 10,000 USDT in TON to 5 award-winning projects. The reward program will be distributed by the end of October.This year, the TON Consumer App Hackathon had a total of 54 projects participating, with 14 projects ultimately shortlisted to present at Demo Day. The winning projects are: trading tool Tradoor, virtual electronic pet and social game OUTA, mini-game integrated within Telegram OutterDish, advertising tool OpenAD, and (e)SIM communication infrastructure Depinsim.

ChainCatcher News, the U.S. SEC has reached a settlement with trading firm Rimar regarding its allegations that the company provided false information to investors about its claims of using artificial intelligence (AI) to execute automated trading in cryptocurrencies and other assets.The SEC stated that Itai Liptz, the owner and CEO of Rimar LLC and Rimar USA, along with Rimar USA board member Cliffard Boro, claimed they could use AI to trade cryptocurrencies, stocks, bonds, and other investments, raising nearly $4 million from 45 investors.However, the SEC pointed out that the company did not actually use AI, and the claim of using emerging technologies was merely a "buzzword" to deceive investors, which the agency referred to as "AI-washing." Rimar USA agreed to settle the allegations and will pay a total of $310,000 in civil penalties without admitting or denying the findings of the regulatory investigation.