PANews reported on November 3rd that, according to Decrypt, South Australian police launched the third phase of "Operation Hammer" over the first weekend of November, arresting 55 people and adding approximately 800 new drug, weapons, and conspiracy charges. The operation was based on information intercepted through the FBI-controlled encrypted communication app AN0M, and the case progressed after the High Court ruled in October that the evidence was admissible. To date, the total amount of encrypted assets seized has reached approximately US$37.9 million. Police stated that the suspects used cryptocurrency for money laundering, and their methods became increasingly sophisticated.


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
