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- 16:04Voyage secures $3 million in Pre-Seed fundingOn October 16, AI infrastructure project Voyage announced the completion of a $3 million Pre-Seed funding round. Investors include a16z Speedrun, Alliance DAO, Solana Ventures, LECCA Ventures, IOSG VC, Big Brain VC, MH Ventures, GAM3GIRL VC, Y2Z Ventures, as well as Faracaster co-founder Varun Srin and former Uniswap executive Kuan Huang. Voyage aims to build the first "GEOFi (Generative Engine Optimization Finance)" network, establishing a fair distribution layer for the citation system of AI-generated content and rewarding genuine knowledge contributors.
- 16:04KPMG: Stablecoins Can Reduce Cross-Border Payment Costs by 99%Jinse Finance reported that accounting firm KPMG pointed out in its report that stablecoins are becoming one of the most prominent recent use cases for cross-border payment transformation. Stablecoins can reduce cross-border settlement times from several days to just a few seconds, while also lowering transaction costs by up to 99%. Currently, banks process about $150 trillion annually through slow and expensive correspondent banking networks, which tie up significant funds in nostro and vostro accounts. The report notes that pioneers such as JPMorgan and PayPal have already demonstrated a growing demand for blockchain-based payment channels.
- 15:49Multiple indicators show a slowdown in U.S. consumption in SeptemberJinse Finance reported that multiple credit card transactions and private sector data indicate that U.S. consumer demand slowed last month. After analyzing high-frequency spending data such as credit card lending and same-store sales, economists stated that consumers have begun to tighten their spending following a strong 4.1% annualized growth in retail activity over the previous three months. Shruti Mishra, an economist at Bank of America, pointed out: "From June to August, there has been a month-on-month slowdown in spending, and you won't see the same growth rate as before going forward." Credit card and debit card data from data analytics platform Second Measure show that last month, consumers' willingness to purchase non-essential goods such as furniture, electronics, and home appliances weakened. Bank of America's credit card data also shows cooling demand. Barclays economists stated that, based on a model that includes disposable income, stock market wealth, inflation, consumer confidence, and credit card spending, the momentum of retail sales in September "may have weakened."