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After the sharp drop early this morning, funding rates on major CEX and DEX platforms indicate that the market has clearly turned bearish.

When a wallet address is no longer just an asset credential, but an identity; when a profile picture is no longer just a JPEG, but a community signal; when a joke can spark collective creation and meme propagation, the spirit of decentralization has already taken root culturally. It does not need to be explained, but rather used, imitated, and recreated.

This year, as the popularity of the DePIN sector continues to rise, IoTeX has achieved several key milestones in the third quarter of 2024, attaining impressive results that have further solidified its position as a leader in the DePIN ecosystem.

Accurately shorting for a profit of 80 millions, on-chain data reveals suspicious funds linked to Garrett Jin.
- 06:15Dubai launches financial sector reform plan, listing virtual assets as one of its three main pillarsChainCatcher News, according to Jinse Finance, Dubai has recently launched a comprehensive financial industry reform plan aimed at propelling itself into the ranks of the world's top three financial centers. The Dubai Government Media Office stated that under the newly introduced "Dubai Financial Sector Strategy" framework, virtual assets, capital markets, and fintech will become key pillars of Dubai's future economic growth. According to the Dubai government's plan, Dubai will leverage this financial industry reform initiative to accelerate the upgrade of its already leading digital asset infrastructure and promote the transformation of traditional finance into digital financial services. The virtual asset industry was established three years ago under the UAE Virtual Asset Law, and currently contributes about 0.5% to Dubai's GDP, which is 2.2 billion dirhams (approximately 600 million USD). As the scale of the virtual asset ecosystem gradually expands, Dubai aims to increase this contribution to around 3%, or 13 billion dirhams (approximately 3.5 billion USD).
- 05:58The Central Bank of Russia hopes to use tokenization solutions to allow foreign buyers to purchase shares of domestic companies.ChainCatcher news, according to Cryptonews, the Central Bank of Russia hopes to use tokenization solutions to allow foreign buyers to purchase shares of domestic companies. Vladimir Chistyukhin, First Deputy Governor of the Central Bank of Russia, discussed this matter during a side event at a recent financial forum. When asked about the tokenization of Russian stocks, the central bank executive gave a positive response, calling it a "feasible option." However, Chistyukhin pointed out that overseas participants need to provide solutions at both the technical and platform levels. He stated: "In this area, foreign partners will play an important role. I am referring to those foreign entities interested in tokenizing Russian assets for trading overseas."
- 05:54Overview of Major Overnight Developments on October 1221:00 (UTC+8) - 7:00 Keywords: rate cut, India, Trump 1. Musk: OpenAI is built on lies; 2. The probability of the Federal Reserve cutting rates by 25 basis points in October is 98.3%; 3. Goldman Sachs: Dollar volatility exceeds S&P 500, losing its safe-haven attribute; 4. He Yi: Will not recover funds from users who picked up low-priced depegged assets yesterday; 5. India is investigating over 400 users suspected of tax evasion on a certain exchange; 6. The US government "shutdown" enters its 11th day, Trump demands to ensure payment of military salaries; 7. Tether and Circle collectively issued $1.75 billion in stablecoins after the market downturn.