Gate Daily (October 16): Trump confirms tariff war with China; WLFI real estate tokenization allows retail investors to get on board.

Bitcoin (BTC) has depegged from the U.S. stock market, fluctuating around $111,030 on October 16. Trump confirmed that the U.S. is engaged in a tariff war with China, and his son Eric Trump confirmed plans to collaborate with World Liberty Financial to tokenize real estate.

Today's Outlook

1. United Kingdom's August Goods Trade Balance (in million pounds), previous value was -22244

2. UK August industrial production (year-on-year), previous value was 0.1%

3. Eurozone adjusted trade balance for August (billion euros), previous value was 5.3

4, Initial jobless claims in the United States last week (thousands) (to 1011)

5. U.S. September Retail Sales (MoM), previous value 0.6%

6. U.S. Producer Price Index (PPI) for September (YoY), previous value was 2.6%

7, The number of initial jobless claims in the United States last week (thousands) (to 1004), the previous value was 229.

8. U.S. trade balance for August (in billion dollars), previous value was -78.3

9. The change in the seasonally adjusted non-farm payroll in the United States for September (in thousands) was 22 for the previous value.

10. The unemployment rate in the United States for September was 4.3%.

11. The October NAHB housing price index in the United States, previous value was 32.

12. Federal Reserve Governor Waller delivered a speech.

Macroeconomic Events & Coin Circle Hotspots

1. Last week, U.S. President Trump threatened to impose a 100% tariff on all Chinese imports and confirmed that the U.S. is engaged in an intense trade war with China. When asked by a White House reporter if the U.S. was prepared for a “sustained trade war” with China, Trump responded, “Well, we are already in a trade war.” Trump explained, “Without tariffs, we would be exposed as nothing, we would have no defensive capability.” He called tariffs an important measure for U.S. national security.

2. Blockchain data shows that stablecoin issuer Paxos minted and destroyed 300 trillion PayPal USD stablecoin tokens within 30 minutes, which left many cryptocurrency users confused. Omer Goldberg, founder of Chaos Labs, stated that Aave would temporarily freeze trading of PayPal USD after an “unexpected high-intensity transaction” in which Paxos minted and destroyed the stablecoin. Ethereum blockchain data indicates that Paxos minted 300 trillion stablecoins pegged to the US dollar at 7:12 PM UTC and destroyed all of them 22 minutes later, sending them to an inaccessible wallet.

3. According to CoinDesk, Eric Trump, the son of U.S. President Donald Trump and co-founder of the decentralized finance protocol WLFI, stated that he is actively advancing a real estate tokenization project related to current development buildings. He mentioned that the project may offer fractional ownership to the public, possibly utilizing a cryptocurrency pipeline constructed by World Liberty Financial. Eric Trump expressed that applying the tokenization model could open up investment opportunities for his family's global supporter base, envisioning offering micro-shares of “high-profile properties” directly to retail investors instead of financing through traditional lending institutions. He described a model whereby investors might only need to contribute $1,000 to obtain partial ownership of a building, along with additional benefits such as hotel discounts or exclusive access rights. Although specific details remain unclear, he indicated that the plan will be combined with World Liberty Financial and its dollar stablecoin USD1.

Market Trend

1. Latest news on Bitcoin: [Bitcoin] (/buy-bitcoin-btc) depeg from US stocks, caught in volatile market, currently reported around 111,030 USD, with a liquidation of 88.56 million USD in the past 24 hours, mainly from long positions;

2. On October 15, the S&P 500 index and the Nasdaq Composite index in the US rose, with solid earnings reports from Morgan Stanley and Bank of America easing concerns about an economic slowdown, while chip stocks continued to rise. The S&P 500 index increased by 26.75 points, or 0.4%, closing at 6,671.06 points. The Nasdaq Composite index rose by 148.38 points, or 0.7%, to 22,670.08 points; the Dow Jones Industrial Average fell slightly by 17.15 points, or 0.04%, to 46,253.31 points. The Philadelphia Semiconductor Index surged by 3%. A consortium led by BlackRock, Microsoft, and Nvidia will acquire a large private data center operator for $40 billion (including debt).

(Source: Gate)

3. In the Gate BTC/USDT liquidation map, based on the current 110,406.10 USDT, Bitcoin, if it falls near 109,707 USDT, the cumulative liquidation amount of long positions exceeds 383 million USD; if it rises near 112,533 USDT, the cumulative liquidation amount of short positions exceeds 588 million USD. The liquidation amount for shorts is significantly higher than that for longs, and it is recommended to reasonably control the leverage ratio to avoid triggering large-scale liquidations during market fluctuations.

(Source: Coinglass)

4. In the past 24 hours, BTC spot inflow was $2.95 billion, outflow was $3.23 billion, with a net outflow of $280 million.

(Source: Coinglass)

5. In the past 24 hours, contracts such as $COAI, $XAUT, $BLESS, $NEAR, and $BEL have seen net outflows leading to trading opportunities.

News Updates

1. Sony Bank's subsidiary Connectia Trust is applying for a national bank license in the United States.

2. Federal Reserve Beige Book: Economic activity has remained flat in recent weeks, with weak labor demand.

3. The SEC Chairman supports innovative development paths for cryptocurrency and tokenization regulatory planning.

4. A mysterious whale that shorted BTC with 140 million USD has closed its position for profit, earning 2.683 million USD.

5. Eric Trump confirmed plans to collaborate with World Liberty Financial to tokenize real estate.

6. Meteora: The MET Token allocation query tool will be launched today at 20:00.

7. Federal Reserve Board member Mester warns: Trade uncertainty intensifies, urgency for rate cuts rises.

8. YZi Labs announced leading a $50 million financing for the stablecoin project Better Payment Network.

9. After the erroneous issuance of 300 trillion PYUSD by Paxos, it has now been destroyed, indicating an internal technical failure.

10. Suspected Bitmine received 104,336 ETH through 5 new wallets from CEX, worth 416 million USD.

11. Polymarket launches stock “rise/fall” prediction market: Users can bet on stock price trends.

X KOL Selected Insights

Phyrex Ni (@Phyrex_Ni): “From the current major direction, the trade friction between China and the United States is temporarily not as exaggerated as in April. Both sides are still maintaining a certain level of restraint. Although they are both talking tough, in reality, further confrontation has not occurred. Especially today, Bessenet indicated that Trump is still prepared to meet with Xi Jinping, which shows that there is still room for easing relations between both sides. Therefore, although U.S. stocks have pulled back somewhat from their upward trend.”

“What makes it harder for the friends today is that U.S. stocks are rising, but cryptocurrencies, especially BTC, are experiencing a slight fall, triggering many investors' statements about the end of the bull market. From my personal perspective, U.S. stocks, especially tech stocks, are still highly correlated with Bitcoin. The temporary divergence we are seeing may be a sign that market sentiment needs to be repaired, especially after the fall on October 11. I actually suggest that for friends who study bull-bear theory, it’s important to have a clear idea of their own. What are the reasons for artificially driving a bear market or maintaining a bull market, and can those reasons convince themselves to place orders in the market?”

“Looking back at the data of Bitcoin, the turnover rate has declined, indicating that most investors are gradually returning to a calm state. However, the main focus of speculation is still on the trade conflict between China and the United States. If the situation escalates, it may intensify investors' panic. Therefore, I currently suggest that waiting and observing is the best approach. After all, on one hand, both sides may be hastily ramping up their rhetoric, while on the other hand, it becomes quite difficult. If it truly escalates into a trade war, then the whole market is not worth betting on, which is not good for either China or the United States. Looking at the current chip structure, I do not see signs of panic selling among investors. The top weekly report has also stated quite clearly that we have not yet entered a phase of systemic risk.”