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first_img Jim Bianco: The bond market has long indicated the Federal Reserve's interest rate hike, and the construction of Bitcoin ETF has missed the key points

Bitcoin Magazine released a video interview where Jim Bianco, founder of Bianco Research, stated that the bond market signaled over two years ago before the Federal Reserve's first interest rate hike in more than three years. He pointed out that during the previous rate-cutting cycle of the Federal Reserve, the yield on the 10-year U.S. Treasury rose from 3.7% to 5%, marking the first time in over 50 years that the long-end yield increased while the Federal Reserve was cutting rates.In his discussion with Grace Remington and Sean Hagan, Bianco also mentioned that the Federal Reserve's decision on October 28 (one week before the midterm elections) is more significant than Wall Street expects. He refuted the "devaluation trade" narrative and discussed what Bitcoin needs to demonstrate, including development activity and the DeFi summer. He believes that the construction of Bitcoin ETFs has missed the point and stated that Tether has effectively become a circulating currency in Venezuela and Afghanistan.Additionally, Bianco talked about stablecoins and the GENIUS Act, real demand for government bonds, and the post-pandemic economy, while criticizing Federal Reserve Chairman Powell. He noted the existence of multiple wars and "safe haven" logic and referenced the "Fourth Turning" theory to analyze the current macro cycle.

DGrid AI Arena launches Points-to-$DGAI, strengthening the community-driven AI model evaluation network

The decentralized AI infrastructure project DGrid AI announced that its community-driven AI model evaluation platform DGrid AI Arena has launched the Points-to-$DGAI redemption mechanism. Users can earn points by participating in AI model evaluations and redeem them for $DGAI, further connecting user participation, model feedback, and ecological incentives.It is reported that since its launch, DGrid AI Arena has attracted over 570,000 users to participate in reviews, generating more than 2.5 million model evaluation votes. The platform employs an anonymous model battle mechanism, where users compare two sets of AI outputs and choose the better response, continuously accumulating evaluation data from real scenarios.DGrid stated that AI Arena is not only a model evaluation and community incentive platform but also the community intelligence layer within the DGrid AI ecosystem. By continuously gathering real user preference signals across different tasks, the platform can more accurately understand the performance of different models in specific scenarios, further optimizing model selection and routing mechanisms, making AI services more aligned with real user needs.Previously, DGrid AI's native token $DGAI has been listed on Binance Alpha and several exchanges such as OKX and Bybit, further promoting the ecological application and community participation of $DGAI.

The Federal Reserve raised interest rates by 25 basis points, and Waller stated that the issue lies with inflation, while the market bets on three more rate hikes next year

The Federal Reserve's FOMC unanimously decided to raise interest rates by 25 basis points, adjusting the target range for the federal funds rate to 3.75% - 4%, marking the first rate hike since July 2023. The latest dot plot shows that 16 officials expect at least one more rate hike by 2026, with the median rate expectations for 2027 and 2026 both at 4.1%.Federal Reserve Chairman Waller stated that recent data shows the U.S. economy is performing strongly, and the labor market remains resilient, but inflation is too high and has persisted for too long. The FOMC is currently not confident that inflation is moving toward the 2% target. He mentioned that the main issue for the current economy is not growth, but inflation. Waller also noted that the rise in U.S. Treasury yields is primarily driven by a strong U.S. economy, increased capital competition, and geopolitical factors.From the announcement of the decision to Waller's press conference, spot gold briefly fell by about $100, the U.S. dollar index rose by about 40 points and broke through the 100 mark, the 2-year U.S. Treasury yield rose by about 10 basis points, and the 10-year yield rose by about 5 basis points, with U.S. stocks turning lower across the board. Interest rate futures are currently pricing in an additional rate hike of about 33 basis points this year and expect a cumulative increase of about 75 basis points by June next year.
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