[Probability of Fed Rate Cut in December Reaches 69%] CME 'FedWatch' data shows that the probability of the Federal Reserve cutting interest rates by 25 basis points in December 2025 is 69%, while the probability of maintaining the current rate level is 31%. Looking ahead to January next year, the probability of the Fed cumulatively cutting rates by 25 basis points is 55.1%, the probability of keeping rates unchanged is 19.7%, and the probability of cumulatively cutting rates by 50 basis points is 25.2%.

[Gemini Plans to Launch Prediction Market Contracts, Expanding into Emerging Fields] The cryptocurrency exchange Gemini Space Station Inc., founded by billionaires Tyler Winklevoss and Cameron Winklevoss, is preparing to enter the prediction market sector with plans to launch related contract products. Prediction markets are federally regulated financial instruments that allow users to bet on the outcomes of sports events, elections, and other occurrences. This move signifies Gemini's entry into this emerging field that has garnered significant attention from financial institutions.

The correction could have more room to run, with ETH potentially falling to as low as $2,700-$2,800, 10x Research's Markus Thielen warned.

[U.S. SEC Suspends Crypto Treasury Investigation Due to Government Shutdown, Subpoenas May Be Issued After Resumption] The U.S. government shutdown has entered its second month, and the SEC's investigation into potential insider trading related to the crypto asset treasury strategies (DAT) adopted by publicly listed companies has been temporarily halted. A former SEC attorney stated that the investigation is almost certain to resume once the government reopens. If the preliminary investigation escalates into a formal one, the SEC may issue subpoenas within one to two months. Legal experts believe that although the Trump administration is relatively friendly toward the crypto industry, the SEC's efforts to clarify potential violations will help improve the regulatory framework for the digital asset market.

The cryptocurrency market has experienced significant fluctuations recently, with a total settlement amount exceeding $2 billion. The continuous decline in Bitcoin prices has driven Ethereum to a 4-month low. Market data shows that a large number of leveraged trades have been forcibly liquidated in the past 24 hours, further exacerbating market panic. Investors need to be vigilant about market volatility risks. （Decrypt）