Bitget Daily Digest（October 28)｜S. today. Trump nominates Michael Selig as CFTC Chairman. Stablecoin USD1 enters partnership with Enso.

Today's Preview

1. USD1, a stablecoin supported by Trump, has partnered with Enso to expand its DeFi presence across various blockchains.
2. The Blockchain Life 2025 conference will be held in Dubai, UAE from October 28-29, 2025, with over 15,000 participants and more than 200 speakers expected to join live.
3. The Bitwise Solana Staking ETF (BSOL) will begin trading on the New York Stock Exchange on October 28, 2025, marking the first U.S. ETP to directly hold SOL and include staking functionality.
4. Sources: Grayscale's Solana Trust ETF is set to go public this Wednesday.

Macro & Hot Topics

1. The White House has officially nominated Mike Selig, the SEC's crypto working group’s chief legal advisor, as CFTC chair, aiming to address industry growth and regulatory legislation. This move may reshape the U.S. crypto regulation landscape.
2. Bloomberg ETF analyst Eric Balchunas notes that several altcoin ETFs may launch this week. Canary Capital has filed Form 8-A for Litecoin (LTC) and HBAR, while Bitwise has submitted an application for Solana (SOL), with preparations accelerating.
3. Tokenomist data shows over $653 million worth of tokens will be unlocked this week (October 27 to November 3), including SUI (about $119 million), GRASS ($80.7 million, or 72.4% supply), with EIGEN, JUP, OMNI, and ENA also seeing major unlocks.
4. Mt. Gox has extended its creditor repayment deadline from October 31, 2025 to October 31, 2026.
5. U.S. lawmakers warn that Congress must pass crypto legislation by January or February next year, or election politics will delay progress.

Market Updates

1. BTC and ETH are consolidating with short-term volatility; market sentiment remains neutral. $40.76 million in liquidations occurred in the past 4 hours, mostly long positions.
2. U.S. stocks closed higher across the board, with the Dow, Nasdaq, and S&P 500 all finishing up, reflecting upbeat global sentiment.

3.Bitget’s BTC/USDT liquidation map shows the price at 114,406; high-leverage long liquidations are clustered in the 114,000-116,000 range — a breakdown could trigger cascading stop-losses, so short-term retracement risks warrant caution.

4.In the past 24 hours, BTC spot market saw $207 million in inflows, $194 million outflows, for a net inflow of $13 million.

5.In the last 24 hours, contracts for BTC, ETH, USDT, XRP, and BNB saw leading net outflows, suggesting possible trading opportunities.

News Highlights

1. U.S. President Trump has nominated seasoned crypto industry figure Michael Selig as CFTC chair, aiming to position the U.S. as a global digital asset hub.
2. UK neobank ClearBank has joined the Circle payment network, enabling faster cross-border transfers and offering MiCA-compliant stablecoin services.
3. Japanese startup JPYC has officially issued the world’s first yen-pegged stablecoin, with approval from Japanese regulators.
4. The Madras High Court in India ruled that cryptocurrencies are considered property under Indian law, bringing legal clarity to digital assets.

Project Updates

1. The official X (Twitter) account of Four.meme has been frozen.
2. Mantle Network has integrated the x402 protocol to support Web3 automation and AI.
3. BlackRock’s IBIT ETF has reached $70 billion in assets under management in just 341 days.
4. DeLeion Capital has launched a regulated crypto custody platform.
5. BitHide released solutions for encrypted payroll and mobile crypto wallets for enterprises.
6. Cronos is preparing its EVM Smarturn upgrade to enhance smart accounts and EVM capabilities.
7. ETHZilla sold $40 million in ETH to fund a $250 million stock buyback program.
8. Relai received a MiCA license from the French AMF and will soon offer new compliant Bitcoin services in the EU.
9. Bitwise’s Solana Staking ETF (BSOL) has been approved for NYSE listing, pioneering a new mode of SOL asset allocation.
10. JPYC's launch of the first compliant yen stablecoin further expands the digital payments ecosystem.