Gate Daily (October 27): The China-US trade framework postpones Trump's 100% tariff; Binance pays a high price for lobbying to pardon CZ.

Bitcoin (BTC) continues the weekend Rebound trend, temporarily reported around $114,942 on October 27. U.S. Treasury Secretary Mnuchin hinted that a framework for a U.S.-China trade agreement has been reached, and President Trump may not impose a 100% additional tariff on China. After costly lobbying efforts in Washington, Binance's founder CZ received a pardon. Kyrgyzstan launched a new stablecoin and confirmed its CBDC plans.

Macro Events & Coin Circle Hotspots

1. U.S. Treasury Secretary Mnuchin stated on October 26 that the U.S. and China have made “substantial” progress within the framework of their trade agreement, which has sparked investor hopes for a rebound in the market. The future framework implies that the measures to impose a 100% tariff on China announced in October may not be implemented. He also mentioned that the two countries will collaborate on security agreements. Mnuchin added: “President Trump’s threat to impose a 100% tariff on November 1 has given me significant negotiating leverage, and I believe we have reached a very substantial framework that can avoid such a scenario and allow us to discuss many other things with the Chinese.”

2. After extensive and costly lobbying efforts in Washington, U.S. President Trump granted clemency to former Binance CEO CZ. According to Politico, CZ was sentenced to four months in prison last year for violating U.S. anti-money laundering laws, and Binance and its legal team spent months working to gain the support of Trump's core associates, from which CZ also benefited. Reports indicate that at the end of September, Binance hired close associate of Donald Trump Jr., Ches McDowell, and his North Carolina-based firm Checkmate Government Relations to lobby the White House and the Treasury Department regarding “executive relief.”

3. Kyrgyzstan has launched a new stablecoin pegged 1:1 to the Kyrgyz Som, while also confirming plans to issue a central bank digital currency and explore digital asset reserves. Former Binance CEO CZ stated that the KGST stablecoin will operate on the BNB chain, and once launched, BNB will be included in the crypto reserves. CZ, a strategic advisor, attended the second meeting of the National Virtual Assets and Blockchain Technology Development Committee alongside President Sadyr Japarov. Local media KG24 reported that the Kyrgyz Cryptocurrency Committee must ensure that the KGST stablecoin is listed on international platforms and submit a proposal for creating a national cryptocurrency reserve within two months.

( News Updates

1. Hong Kong media: Ant Group has applied for Web3-related trademarks such as “ANTCOIN” in Hong Kong.

2. SharpLink currently holds ETH worth 3.58 billion dollars, with an unrealized profit of 480 million dollars.

3. Financial giant Western Union will trial a settlement system based on stablecoin.

4. Richard Heart has transferred a total of 30,066 ETH to a new wallet, approximately worth 125 million USD.

5. Besant: The U.S. will no longer consider imposing a 100% tariff on China.

6. Solana Co-founder: Layer 2 does not inherit the security of Ethereum and has fundamental issues that are difficult to overcome.

7. Sharplink Gaming has added 19,271 ETH to its reserves again, worth 80.37 million dollars.

8. Padre: PADRE holders will receive PUMP according to their holdings and must submit their wallet address before December 30.

9. Data: The non-liquid supply of Bitcoin has decreased, with approximately 62,000 BTC flowing out of long-term holder wallets.

10. The proposal to curb Bitcoin spam messages through a temporary soft fork has sparked debate among developers.

) Market Trend

1. Latest Bitcoin News: ### continues the weekend rebound trend, currently reported at around 114,942 USD, with 168 million USD liquidated in the past 24 hours, mainly from short positions;

2. The US stock futures index rose in Asia on October 27, as both China and the US released signals indicating that a comprehensive trade agreement is about to be finalized, coinciding with President Trump’s diplomatic talks in Asia. Gold prices initially fell over 1% after opening, highlighting a cooling of market risk aversion. The S&P 500 futures rose by 0.66%, the Dow futures increased by about 0.6%, and the Nasdaq 100 index rose by 0.8%.

![Bitcoin Liquidation Map]###https://img-cdn.gateio.im/webp-social/moments-87a9b3933a-fc6a55bf2c-153d09-69ad2a.webp$BTC

(Source: Gate)

3. In the Gate BTC/USDT liquidation map, based on the current 114,835.00 USDT, if it drops to around 112,326 USD, the total long position liquidation amount will exceed 687 million USD; if it rises to around 115,835 USD, the total short position liquidation amount will exceed 222 million USD. The liquidation amount for shorts is significantly lower than that for longs, so it is advisable 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 $1.88 billion, outflow was $1.68 billion, with a net outflow of $200 million.

(Source: Coinglass)

5. In the past 24 hours, contracts such as $BTC, $ETH, $SOL, $DOT, and ( have seen net outflows, indicating trading opportunities.

) X KOL Selected Insights

Phyrex Ni (@Phyrex_Ni): “Sunday's tasks are a bit easier; the most important thing today should be some progress in the China-U.S. negotiations. At least from the information released by both sides so far, it seems that the 155% tariff on China scheduled for November 1 will be postponed, which should be a relief for the market and has directly driven the BTC price up by nearly $2,000 over the weekend.”

“If everything goes smoothly, the reaction in the U.S. tomorrow should be good. For the past two days, it has been mentioned that the biggest gamble right now is the interest rate meeting on October 30, followed by the results of the Trump-Xi meeting. A rate cut in October is highly likely, and the talks between China and the U.S. should also be positive, so there is a good chance that the trend next week will be more reassuring.”

Looking back at Bitcoin's data, liquidity over the weekend remains low. Although some positive news has triggered buying from investors, the turnover rate was still the lowest day in the past week. Investor sentiment remains quite stable, with both buying and selling dominated by short-term investors recently. There's not much else to say; we'll just wait for various announcements on the 30th of next week. From the URPD data, the chip structure also looks good, and the support levels are quite stable.

$ZEC Today's Outlook

1. Germany's October IFO Business Climate Index, previous value was 87.7

2. UK October CBI Retail Sales Expectations Index, previous value -36

3, The number of initial jobless claims in the United States last week (in thousands) (as of 1013)

4. President Trump visits Japan until October 29.

5. Reserve Bank of Australia Chairman Bullock participated in a fireside chat.