Web3 news selected daily by Bitpush editor:
【Fed cuts rates by 25 basis points as expected, meeting market expectations】
Bitpush News: The Federal Reserve has lowered the benchmark interest rate by 25 basis points to 3.50%-3.75%, marking the third consecutive meeting with a rate cut, in line with market expectations. The cumulative rate cut for the year has reached 75 basis points.
【Fed to purchase $40 billion in Treasury bills within 30 days】
Bitpush News: The Federal Reserve FOMC statement announced that it will purchase $40 billion in Treasury bills over the next 30 days.
【Gemini approved by CFTC to enter prediction market】
Bitpush News: U.S. cryptocurrency exchange Gemini announced that it has officially received approval from the U.S. Commodity Futures Trading Commission (CFTC) to operate as a Designated Contract Market (DCM). It will soon launch a prediction market platform called Gemini Titan.
According to the official statement, the platform will initially offer binary contract products based on future events and plans to gradually expand into crypto futures, options, and other CFTC-regulated derivative markets in the future. Gemini President Cameron Winklevoss stated in the declaration that prediction markets have significant development prospects and expressed appreciation for the innovative regulatory approach supported by CFTC Acting Chairman Caroline Pham.
Notably, U.S. regulatory agencies have shown a positive adjustment in their policy stance toward prediction markets. Leading prediction platforms Kalshi and Polymarket have seen significant growth in trading volume, while former President Trump's social media company recently announced a partnership with Crypto.com to develop prediction market business.
In addition to Gemini, mainstream exchanges like Coinbase have also made preliminary布局 in prediction market-related technologies. Industry data shows that prediction market partner Robinhood once contributed over 50% of Kalshi's trading volume.
【State Street Bank and Galaxy to launch tokenized liquidity fund SWEEP on Solana in 2026】
Bitpush News: State Street Bank and Galaxy Asset Management jointly announced plans to launch a tokenized liquidity fund called "SWEEP" on the Solana blockchain in early 2026. The fund will use PayPal's stablecoin PYUSD to enable round-the-clock subscriptions and redemptions, initially targeting qualified institutional investors with on-chain cash management tools. Ondo Finance has committed approximately $200 million as startup capital.
According to the statement, the product aims to help institutions hold on-chain cash-like assets without sacrificing liquidity. Kim Hochfeld, Global Head of Cash and Digital Assets at State Street Bank, stated that this collaboration will "jointly promote the evolution of traditional finance into the on-chain ecosystem."
The fund will initially operate on Solana, with plans to expand to the Stellar and Ethereum networks later. This is another important布局 in institutional-grade on-chain finance following their collaboration on digital asset ETFs in 2024.
【If SpaceX IPOs at a $1.5 trillion valuation, Elon Musk's net worth will reach $952 billion】
Bitpush News: If SpaceX successfully goes public next year with a valuation of $1.5 trillion, global richest person Elon Musk's wealth could increase by $491 billion, bringing his total assets to $952 billion.
According to estimates, if SpaceX goes public with a valuation of $1.5 trillion, Elon Musk's stake in SpaceX would be worth over $625 billion. Currently, Elon Musk's personal net worth is $460.6 billion, with his SpaceX equity valued at approximately $136 billion. Elon Musk holds about 42% of SpaceX's shares. SpaceX's IPO is the second clear path for Elon Musk to become the world's first trillionaire, following last month's approval of Tesla's trillion-dollar compensation package.
【Sei partners with Xiaomi: New phones to pre-install Web3 App, advancing stablecoin payment system】
Bitpush News: Sei announced a major partnership with global consumer electronics giant Xiaomi: All new Xiaomi smartphones sold outside mainland China and the U.S. will come pre-installed with a next-generation加密 wallet and app discovery App based on Sei. Plans are also underway to launch stablecoin payment functionality in Xiaomi's global retail system. Details include:
Pre-installed App: Supports one-click setup with Google/Xiaomi ID, built-in MPC wallet security, access to multiple popular DApps, P2P transfers, and C2B payment capabilities.
Priority markets: Europe, Latin America, Southeast Asia, Africa, and other regions with mature加密 adoption; Xiaomi holds leading market shares in Greece (36.9%) and India (24.2%).
Payment system plan: Developing stablecoin (e.g., USDC) payment functionality, expected to launch first in Hong Kong and the EU in Q2 2026, with gradual expansion to more compliant markets.
Xiaomi's influence: Sold 168 million phones globally in 2024, capturing 13% market share and ranking among the top three globally. Pre-installed apps will cover all new devices and be pushed to existing users.
Sei believes this move will transform加密 from user-initiated seeking to automatic user reach. With sub-second finality and high TPS, Sei can support large-scale consumer-grade Web3 application adoption.
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