PANews reported on October 14th that DeFiance Capital CEO and CIO Arthur Cheong stated in a post on the X platform that while the fund suffered some losses in this incident, the scale of the losses did not rank among the top five most volatile days. He emphasized that he was "very angry and disappointed" about the incident, believing that such extreme price anomalies have severely damaged the overall trust in the crypto industry, especially the altcoin market, which relies primarily on offshore centralized exchanges (CEXs) for price discovery.PANews reported on October 14th that DeFiance Capital CEO and CIO Arthur Cheong stated in a post on the X platform that while the fund suffered some losses in this incident, the scale of the losses did not rank among the top five most volatile days. He emphasized that he was "very angry and disappointed" about the incident, believing that such extreme price anomalies have severely damaged the overall trust in the crypto industry, especially the altcoin market, which relies primarily on offshore centralized exchanges (CEXs) for price discovery.

                                                                               Market participants are eagerly anticipating at least a 25 basis point (BPS) interest rate cut from the Federal Reserve on Wednesday.                     The Federal Reserve, the central bank of the United States, is expected to begin slashing interest rates on Wednesday, with analysts expecting a 25 basis point (BPS) cut and a boost to risk asset prices in the long term.Crypto prices are strongly correlated with liquidity cycles, Coin Bureau founder and market analyst Nic Puckrin said. However, while lower interest rates tend to raise asset prices long-term, Puckrin warned of a short-term price correction.  “The main risk is that the move is already priced in, Puckrin said, adding, “hope is high and there’s a big chance of a ‘sell the news’ pullback. When that happens, speculative corners, memecoins in particular, are most vulnerable.”Read more