This Week's Key News Preview | Federal Reserve Announces Interest Rate Decision
Highlights of the week from October 27 to November 2.整理：Jerry，ChainCatcher
Key News:
- Hong Kong's first Solana Exchange-Traded Fund "Huaxia Solana ETF" is expected to be listed on the Hong Kong Stock Exchange on October 27
- Binance Alpha will launch XNAP, COMMON, and 42 on October 27
- MegaETH will start the public sale of MEGA tokens on October 27, with an initial FDV of $1 million
- Binance Alpha will list Piggycell (PIGGY) on October 28
- The Federal Reserve will announce a new interest rate decision on October 30, and Powell will hold a press conference
- Strategy plans to release its third-quarter financial report on October 30
October 27 (Monday)
According to the Hong Kong Economic Journal, the Hong Kong Securities and Futures Commission has officially approved the first Solana (SOL) spot ETF, issued by Huaxia Fund (Hong Kong), making it the third approved cryptocurrency spot ETF after Bitcoin and Ethereum, and the first of its kind in Asia.
The ETF (code: 03460) is expected to be listed on the Hong Kong Stock Exchange on October 27, with a RMB counter (83460) and a USD counter (9460). The trading unit is 100 shares, with a minimum investment amount of approximately $100. Its virtual asset trading platform is OSL Exchange, with a management fee rate of 0.99% and an annual recurring expense ratio of about 1.99%.
Binance Alpha will launch XNAP, COMMON, and 42 on October 27
According to an official announcement, Binance Alpha will be the first platform to launch the following projects: SnapX (XNAP) airdrop on October 27; Common (COMMON) airdrop on October 27; Semantic Layer (42) airdrop on October 27.
Eligible users can go to the Alpha event page to claim the airdrop using Binance Alpha points after the Alpha trading opens. Further details will be announced separately.
MegaETH will start the public sale of MEGA tokens on October 27, with an initial FDV of $1 million
MegaETH, an Ethereum scaling solution developed by MegaLabs, announced on platform X that it will start a public sale on October 27 on the Sonar platform under Echo, with an initial fully diluted valuation (FDV) of $1 million and a valuation cap set at $999 million.
Users can bid through an English auction, with the highest bid reaching up to $186,282.
X Layer mainnet will undergo a technical upgrade on October 27
According to the official announcement from X Layer, as the integration of protocols and ecological expansion continues to advance, a plan is in place to upgrade the underlying technology of the public chain to further enhance the overall performance and scalability of the system, aiming to become a leading platform for high-performance blockchain solutions.
This upgrade is scheduled to start on October 27, 2025, at 23:30 (UTC+8), and is expected to last about an hour, after which the mainnet will resume block production. If there are any adjustments to the upgrade progress or schedule, the official will update through announcement channels promptly.
The announcement states that during the upgrade, the X Layer mainnet will suspend block production, and all related services will be temporarily interrupted, including asset deposits and withdrawals on OKX exchange, DEX trading services, OKX Wallet functionalities, and OKX Pay services. Users with questions can contact OKX customer service at any time. The X Layer team stated that they will continue to work on improving the platform's stability, security, and operational reliability to achieve the long-term ecological vision of "The New Money Chain."
October 28 (Tuesday)
Binance Alpha will list Piggycell (PIGGY) on October 28
According to an official announcement, Binance Alpha will list Piggycell (PIGGY) on October 28. Eligible users can go to the Alpha event page to claim the airdrop using Alpha points after the Alpha trading opens. Further details will be announced separately.
Binance Futures will delist GMTUSD and DOGSUSD coin-margined perpetual contracts on October 28
Binance Futures will automatically liquidate the GMTUSD and DOGSUSD coin-margined perpetual contracts at 17:00 on October 28, 2025, and will delist the aforementioned perpetual contract trading pairs after the liquidation is completed. Users are advised to close their positions before trading stops to avoid automatic liquidation.
Following a successful trial on the Holesky testnet two weeks ago, Ethereum developers initiated the second test of the Fusaka upgrade earlier on Tuesday on the Sepolia testnet. Before determining the mainnet activation date, a final rehearsal is planned on the Hoodi testnet on October 28, marking the last step before deployment.
Fusaka introduces the PeerDAS data validation method, allowing validators to process only a portion of the data, thereby reducing bandwidth requirements and lowering costs for institutional users and Layer 2 networks.
October 30 (Thursday)
On October 30 (Thursday) at 2:00 AM Beijing time, the Federal Reserve FOMC will announce the interest rate decision and economic projections summary; subsequently, at 2:30 AM, Federal Reserve Chairman Powell will hold a monetary policy press conference.
The SEC extends the review period for Nasdaq's Ethereum Trust staking proposal until October 30
U.S. SEC documents show that the Nasdaq Stock Exchange has submitted a proposal to the SEC to amend the rules related to the iShares Ethereum Trust, allowing the trust to stake Ethereum. The SEC has decided to extend the review period, with a decision to approve, deny, or initiate further review procedures expected by October 30 at the latest.
Binance: To combat sniper bots, the fee structure for fair mode will be adjusted on October 30
Binance stated on platform X: "To combat sniper bots, the fee structure for fair mode will be adjusted during the initial few blocks. For more details, please refer to the official announcement from Four.Meme."
According to the Four.Meme announcement: "The fee structure for fair mode will be adjusted on October 30. After the token is created, the first block will apply the increased fee, which will then decrease block by block within a few seconds until it reaches the normal rate."
Strategy plans to release its third-quarter financial report on October 30
Bitcoin treasury company Strategy (formerly MicroStrategy) announced that it will release its financial performance report for the third quarter of 2025 after the close of the U.S. financial markets on Thursday, October 30, 2025.
November 2 (Sunday)
According to Cryptonews, the Central Bank of Brazil has proposed new regulations for the foreign exchange industry, which may further restrict cryptocurrency exchanges.
It has released a public consultation document to gather feedback. Although the proposal does not directly mention cryptocurrency trading and exchanges, in its current form, the rules will affect platforms that allow customers to make international transfers or sell cryptocurrencies for fiat currencies other than the Brazilian real. The new regulations aim to bring the largely unregulated foreign exchange industry under regulation, requiring foreign exchange providers to apply for licenses, submit customer transaction data, and use designated entry/exit points for deposits and withdrawals, with a single transaction value limit of $10,000.
The Central Bank of Brazil aims to increase transparency in foreign exchange platforms, and local media warn that cryptocurrency exchanges facilitating transfers may be affected, with foreign-operated exchanges also potentially facing restrictions. The consultation period continues until November 2.
According to Cryptotimes, Nasdaq submitted a rule change application to the SEC on June 7, planning to include XRP, Solana (SOL), Cardano (ADA), and Stellar Lumens (XLM) in its cryptocurrency index benchmark. This adjustment involves the Hashdex Nasdaq Crypto Index ETF (NCIQ), aiming to expand its tracking targets from the original Nasdaq Crypto US Settlement Price Index (NCIUS) to cover nine tokens in the Nasdaq Crypto Index (NCI).
Currently, the NCI index includes nine cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), but due to existing SEC regulations, the ETF can only hold BTC and ETH, leading to tracking error risks. If approved, the ETF will be able to invest in all index component assets, with a final decision expected by November 2, 2025. This move could mark a significant step towards diversification for U.S. cryptocurrency ETFs.
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