Category Archives: economy

Trump Nominates Michael Selig as New CFTC Chair

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U.S. President Donald Trump has chosen Michael Selig as the chair of the Commodity Futures Trading Commission (CFTC), according to Bloomberg reports on Friday. This nomination replaces his previous nominee, Brian Quintez, following pressure from Tyler and Cameron Winklevoss, founders of Gemini.

### Selig as the New CFTC Chair

Michael Selig currently serves as chief counsel for the U.S. Securities and Exchange Commission’s (SEC) Crypto Task Force and Senior Advisor to SEC Chairman Paul Atkins. Before joining the SEC, Selig was a partner at the law firm Willkie Farr & Gallagher LLP, where he specialized in asset management and digital assets regulation.

Selig’s extensive background positions him well to promote greater coordination between the SEC and CFTC, two key agencies overseeing financial markets. This nomination is closely tied to the implementation and impact of the CLARITY and GENIUS Act, which are expected to shape crypto regulation.

With Selig at the helm of the CFTC, he will have direct influence on how major cryptocurrencies and tokenized assets are regulated in practice. He is expected to leverage his cross-agency experience to harmonize regulatory frameworks related to spot crypto trading, tokenized collateral, and investor protections. These efforts are likely to advance institutional confidence in regulated digital assets.

### Industry Reaction

Earlier this month, when Selig emerged as the leading candidate for CFTC Chair, Jake Chervinsky, chief legal officer at the Variant Fund, described the development as a pivotal moment for U.S. crypto policy. He said:

> “There’s nothing more important for crypto policy than the White House nominating a new CFTC chair, and nobody better than Mike Selig for the job. I’ve had the honor of knowing Mike for years, and he’s the real deal: a brilliant lawyer and proven leader perfect for this role.”

Chervinsky also praised Selig as a trustworthy and skilled lawyer with proven leadership experience, qualities that could help stabilize and advance crypto oversight in a positive and more predictable manner.

### What’s Next? Senate Vote

Following President Trump’s nomination, Selig must be approved by the U.S. Senate before officially taking office. The confirmation process involves a hearing before the Senate Agriculture Committee, which typically handles CFTC nominations.

During the hearing, Selig will likely face questions regarding his qualifications and his stance on current U.S. regulations. If he receives Senate approval, Selig can officially begin his term as Chair of the Commodity Futures Trading Commission.
https://coinpedia.org/news/trump-nominates-michael-selig-as-new-cftc-chair/

Polymarket Confirms $POLY Token and Airdrop, A $15B Prediction Revolution in the Making

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The rumors are finally real. Polymarket, the fast-growing prediction market, is officially launching its native OLY token along with a highly anticipated airdrop. CMO Matthew Modabber confirmed the move publicly, sparking immediate buzz across crypto Twitter. What began as mere speculation has now evolved into one of the most awaited token launches in the decentralized prediction space.

### The OLY Token Is Coming

Polymarket’s CMO didn’t hold back during his announcement. He revealed that the team is preparing both a native token and a massive airdrop designed to reward early users for their genuine engagement.

“Expect every airdrop hunter and crypto trader to rush in,” one insider wrote on X (formerly Twitter) moments after Modabber’s statement. “Early users will likely be rewarded for volume, longevity, and organic activity.”

This news is music to the ears of long-time Polymarket traders — those who have been active well before the announcement. Rumors suggest that the OLY airdrop could arrive as early as 2026, with eligibility closely tied to user activity, trading patterns, and authentic participation.

### A $15 Billion Valuation on the Table

Behind the scenes, things are moving rapidly. According to Bloomberg, Polymarket is already in discussions to raise fresh funding with a valuation potentially reaching up to $15 billion.

That staggering figure places Polymarket in rarefied air within the decentralized prediction market sector. If the funding round materializes, it would be among the largest valuations ever for a project in this niche. Investors are reportedly circling, attracted by Polymarket’s growth trajectory and the promise of an industry that uniquely blends finance, politics, and real-time sentiment data.

### Airdrop Rules: Real Traders Only

Although the airdrop may be massive, Modabber made one thing crystal clear during an AMA: there will be no room for farmers.

He stressed that the OLY token distribution will prioritize real users—those with consistent, organic trading histories. Farming tactics and wash trades won’t cut it this time.

“The drop is likely tied to volume, activity, and trading behavior,” Modabber said. “Passive users risk missing out.”

This announcement has sparked a surge of renewed interest across prediction market communities. Traders are dusting off their old accounts, placing small but steady bets, and building genuine volume ahead of the official snapshot.

The rules are simple: trade, stay active, and prove authenticity.

### Polymarket’s Big Play: More Than Just Predictions

Polymarket isn’t just another betting site dressed up in Web3 colors. It’s a data-driven prediction market that enables users to trade on real-world events — everything from elections and sports to economics and pop culture.

Each market reflects crowd sentiment, and every trade contributes a valuable data point. This makes Polymarket much more than entertainment; it’s an evolving form of decentralized intelligence.

The upcoming OLY token will serve as the foundation of this ecosystem. It’s not a meme or a quick cash grab — it’s infrastructure.

That distinction is crucial. While many other airdrops chaser hype, Polymarket is focused on building a long-term framework for decentralized forecasting, liquidity incentives, and governance.

### “This Ain’t Just Another Platform”

Crypto Twitter is calling this launch a new era for prediction markets.

“This ain’t just another platform,” one Polymarket supporter wrote after the AMA. “It’s being built to compete globally.”

This isn’t mere hype. With user engagement on the rise, growing investor attention, and a token launch confirmed, Polymarket is positioning itself as a potential market leader in on-chain predictions.

Its focus on genuine users — not bots or farmers — is part of a larger strategy to build trust and ensure longevity.

If successful, the OLY token could set a new standard for transparency and fairness across decentralized trading platforms.

### Early Users in the Spotlight

With the confirmation of the OLY token and airdrop, every early user has become a potential winner.

Activity, longevity, and organic volume are expected to determine who benefits the most. It’s a familiar formula, but Polymarket’s approach feels different — instead of chasing hype, they are rewarding consistency and faith in the product from day one.

As one longtime trader put it: “You can’t farm conviction.”

With the official launch expected in 2026, traders have months to ramp up their participation and secure their place in what could become one of the largest airdrops in crypto history.

### Market Reaction: Momentum Building

The crypto community wasted no time reacting. Mentions of OLY exploded across X after Modabber’s confirmation.

Prediction market tokens — even those unrelated — saw significant volume spikes as speculators positioned themselves early.

Polymarket’s growing visibility has also translated into increasing trading volume, which continues trending upward. If this momentum holds, the platform could break participation records before the end of the year.

Meanwhile, curiosity about Polymarket’s native tokenomics is intensifying. Traders want to understand how OLY will fit into governance, fees, and incentives. For now, the team remains tight-lipped.

The message is clear: stay active, stay early, and stay ready.

### Building Toward a Global Platform

What truly sets Polymarket apart isn’t just the product — it’s the ambition.

A $15 billion valuation isn’t just a number; it’s a statement of intent.

With new capital, a growing user base, and the OLY token on the horizon, Polymarket is positioning itself at the intersection of finance, media, and prediction technology.

The OLY token is designed to unify its ecosystem — from market creation and trading incentives to governance and liquidity.

This launch represents the next logical step in pushing prediction markets into the mainstream.

### The Early Birds Will Set the Pace

Polymarket’s journey is still unfolding, but one thing is clear: early participants will shape what happens next.

“This is one of those projects you don’t just watch,” Modabber said during the AMA. “You get involved.”

And that’s exactly what the crypto community is doing.

Excitement is building, engagement is rising, and the countdown to the OLY airdrop has already begun.

The opportunity is simple: get in early, stay active, and trade with intent.

When the airdrop lands, the early birds won’t just get rewarded — they’ll define the next chapter of decentralized prediction markets.

—

*Disclosure: This article is not trading or investment advice. Always conduct your own research before buying any cryptocurrency or investing in any services.*
https://themerkle.com/polymarket-confirms-poly-token-and-airdrop-a-15b-prediction-revolution-in-the-making/

Trump’s Asia Tour: Deals, Diplomacy and a Meeting With Xi

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From Kuala Lumpur to Gyeongju, President Trump is casting himself as a deal-maker and peace negotiator.

As he travels through the region, he aims to promote tariff relief and establish steadier ties amid a wary environment.

Leaders and citizens alike are watching closely to see how his diplomatic efforts might impact the future of international relations in this part of the world.
https://www.nytimes.com/2025/10/25/world/asia/trump-japan-korea-china.html

Federal workers in South Florida left disheartened, struggling to get by amid government shutdown

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**Federal Workers in South Florida Struggle Amid Ongoing Government Shutdown**

*FORT LAUDERDALE, FLA. (WSVN)* — Federal workers across South Florida are facing financial hardships and growing disheartenment as the federal government shutdown continues, caught in the crossfire of a political battle.

At Miami International Airport on Friday, several Transportation Security Administration (TSA) agents were seen picking up food distributed by Feeding South Florida. With no end to the shutdown in sight, these federal workers are navigating tough times.

“It does help, especially for us that have kids at home and stuff, so it helps,” said one TSA worker. Another added, “I’m grateful for all the things that we are receiving today.” A third TSA agent commented, “It’s very nice of them, because we could use it.”

Friday marked the first payday federal employees have gone without their paychecks since the government shutdown began. Republican and Democratic lawmakers failed to pass a spending bill to keep the government open past October 1st. Currently, about 1.4 million federal workers are either on unpaid leave or working without pay.

Caught in the middle of the political stalemate, many federal workers are left trying to manage their finances amid uncertainty.

“So now you have to pick and choose, what can I pay now, what can I postpone, can I call the creditors to see if they’ll work with me,” said a 10-year federal employee who wished to remain anonymous. Having previously served in the military, including deployment to Afghanistan, she expressed deep frustration.

“It’s disheartening ’cause I’ve served with, you know, my country and I chose to do it again. On this side, it’s almost like a slap in the face,” she said.

Retired TSA instructor Harry Herring told 7News the financial stress caused by the shutdown adds to an already stressful job for TSA employees.

“Rent, car loans, car insurance, all those expenses that have to be taken care of, it’s not gonna be taken care of,” said Herring. “That causes what I call ‘interference with my ability to do my duty.’”

Shaunellia Ferguson, who represents nearly 700 Social Security Administration workers for the American Federation of Government Employees in eastern Florida, said her members continue to work despite the hardship.

“We are human beings too. We don’t make a lot of money, we’re not wasteful, we’re not parasites the way they’re calling us, we’re not,” said Ferguson. “Especially now without getting paid, you’re still doing it, you’re still hearing all the concerns and you’re sitting there wondering ‘How is my rent gonna be paid?’ or ‘How am I gonna cover child care?’ We have feelings just like everyone else and we work and we are here to serve you, the American public.”

Organizations like Feeding South Florida have been working tirelessly to support federal workers throughout the country. However, Ferguson emphasized that what federal employees truly want is for politicians to come together and find a solution.

*Copyright.*
https://wsvn.com/news/local/miami-dade/federal-workers-in-south-florida-left-disheartened-struggling-to-get-by-amid-government-shutdown/

Corn Falling into the Weekend

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Corn futures are showing weakness on Friday, with losses of 3 to 4 ½ cents at midday. The CmdtyView national average Cash Corn price is down 4 ½ cents at $3.83 ¾. The average December close so far in October, with just six trading days remaining, is $4.19. This compares to last year’s harvest price for crop insurance at $4.17 but is 51 cents below the February price.

On Thursday evening, President Trump announced he had terminated trade talks with Canada due to the unauthorized use of a former President Reagan speech regarding tariffs. No details were released on if or when trade talks will resume. This development is notable as Canada has been a large buyer of U.S. ethanol.

Argentina’s corn crop was estimated at 33.8%, according to the Buenos Aires Grain Exchange, marking an increase of 3.9% from the previous week.

As of now, the futures prices are as follows:
– December 2025 Corn is at $4.23 ½, down 4 ½ cents
– Nearby Cash Corn is at $3.83 ¾, down 4 ½ cents
– March 2026 Corn is at $4.37 ¾, down 3 ½ cents
– May 2026 Corn is at $4.46 ¼, down 3 cents

Stay informed on commodities ranging from crude oil to coffee by signing up for Barchart’s best-in-class commodity analysis—free of charge.

*Disclaimer:* On the date of publication, Austin Schroeder did not hold any positions, directly or indirectly, in any securities mentioned in this article. All information and data provided are solely for informational purposes. For more details, please view the Barchart Disclosure Policy.

—

### More from Barchart:

– How Much Higher Can Wheat Prices Go Now?
– China May Not Be Buying U.S. Soybeans, But Soybean Meal Is a Value Buy for Traders
– Grains in Q3 — Can the Price Weakness Continue?
– As the Harvest Reaches a Halfway Point, Corn Is Heading Into a ‘Buy’ Zone

*The views and opinions expressed herein are those of the author and do not necessarily reflect the views and opinions of Nasdaq, Inc.*
https://www.nasdaq.com/articles/corn-falling-weekend

‘I will not be deterred!’ Letitia James issues warning to Trump after leaving courthouse

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New York Attorney General Letitia James issued a firm warning on Friday, declaring that she would “not be deterred” or “distracted” after leaving a federal courtroom where she pleaded not guilty to charges of bank fraud. Critics argue that these charges are politically motivated, stemming from James’ previous legal battles with former President Donald Trump.

The allegations against James involve claims that she misrepresented her income and assets on a loan document. The Trump administration initiated its criminal probe into James back in May. This move follows James’ prior prosecution of Trump in 2022, which resulted in a $454 million judgment. That case centered on accusations that Trump and his real estate company inflated asset values to secure more favorable loan agreements.

As she exited the courtroom in New York City on Friday, James was greeted by cheers from dozens of supporters who had gathered to back her.

Addressing the crowd, an animated James criticized the Trump administration for using the Justice Department as “a vehicle of retribution.” She emphasized that the prosecution would not silence her.

“There’s no fear today, no fear! No fear!” James shouted. “No fear, because I believe that justice will rain down like water, and righteousness like a mighty stream! And I’m here to say that my work, my job and all that I do, I’ve stood up for the rights of New Yorkers and Americans and I will not be deterred! I will not, will not be deterred!”

The Trump administration’s targeting of James has attracted further scrutiny after a high-ranking DOJ official posted a photo outside her New York home in August. The image was shared on social media alongside a threatening message, occurring before she was formally indicted on fraud charges.
https://www.rawstory.com/letitia-james-2674230613/

What is the lowest amount a debt collector will sue for?

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In the current economic environment, where Americans owe a record $1.21 trillion in credit card debt and credit card rates are sitting at record highs, many borrowers face collection calls and potential lawsuits over unpaid debt. As more accounts fall into serious delinquency due to inflation and other economic stressors, even more people are at risk.

While debt-related lawsuits are among the most common civil cases in the U.S., they can still have long-lasting effects on your finances. Many people assume a debt lawsuit will only be filed if you owe a substantial balance. That’s not always the case. Debt collectors may file suits over surprisingly small amounts, depending on the type of debt, the agency involved, and state laws.

Understanding when legal action becomes likely and what you can do before it reaches that point is crucial—especially if your debt has already been turned over to collections. So, what is the lowest amount a debt collector is likely to file a lawsuit over? Let’s explore.

### What Is the Lowest Amount a Debt Collector Will Sue For?

There’s no single threshold amount that triggers a debt lawsuit. The decision to file usually depends on three main factors:

#### 1. The Size of the Debt Relative to Collection Costs
Debt collectors weigh potential recovery against the costs of suing you, including court filing fees, attorney costs, and the effort required to collect after winning. For small balances, filing a lawsuit and the related costs often aren’t worth it. However, many collection firms handle large volumes of cases through standardized processes, so pursuing even smaller balances can be profitable.

#### 2. The Type and Age of the Debt
Unsecured debts like credit cards and personal loans are more commonly litigated because they’re easier to prove and collect. Medical debts, on the other hand, are less likely to result in lawsuits, especially if sold to secondary collectors. Additionally, older debts beyond your state’s statute of limitations can’t legally be sued for, though collectors might still contact you or threaten legal action to try and compel payment.

#### 3. State Laws and Local Court Practices
In some states, small claims courts allow lawsuits for amounts as low as a few hundred dollars. For example, a debt collector might sue for a $750 credit card balance in a jurisdiction with minimal filing fees and high default judgment rates. Conversely, in states with higher court costs or stricter documentation rules, pursuing small debts may be less worthwhile.

In short: debt collectors typically start considering lawsuits for amounts around $1,000 to $5,000, but there’s no strict rule. If your debt falls within that range or you’ve ignored collection calls or letters, you could be at risk of being sued.

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### How to Deal with Overwhelming Debt Before a Lawsuit Is Filed

If you’re behind on payments but haven’t been sued yet, you still have time to act. Taking early steps can help you avoid court, reduce your balance, and protect your credit. Here’s what to consider:

#### Communicate with Your Creditor or Debt Collector
Ignoring calls and letters won’t make the debt disappear; it increases your risk of a lawsuit. Instead, contact the creditor or debt collector to discuss your payment options. Some may accept reduced settlements or waive interest if you can provide a lump-sum payment.

#### Consider a Debt Management Program
Debt management programs, available through credit counseling agencies, allow you to consolidate multiple credit card debts into a single monthly payment while working to lower interest rates. A counselor negotiates with creditors on your behalf, and you pay the agency monthly until your balances are cleared—typically within three to five years.

#### Explore Debt Settlement
If you owe more than $7,500 to $10,000 and can’t keep up with payments, debt settlement could help you resolve your debt for less than you owe. A debt relief company negotiates with creditors to settle balances often for 50% to 70% of the total owed. Keep in mind, debt settlement can temporarily hurt your credit and may have tax implications.

#### Look into a Debt Consolidation Loan
If your credit is still solid, a debt consolidation loan might help combine multiple high-interest debts into one lower-rate loan. This option can make payments more manageable and reduce overall interest costs.

#### Consult with a Professional
If the situation feels overwhelming, speak with a credit counselor or debt relief specialist. They can assess your options based on your income, debt type, and credit profile and help decide whether settlement, management, or even bankruptcy is the best path forward.

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### The Bottom Line

Debt collectors can—and often do—sue over relatively small amounts, especially if you’ve ignored repeated attempts to collect money owed. While lawsuits over a few hundred dollars aren’t common, balances in the $1,000 to $5,000 range are frequently targeted, depending on the creditor and your state’s rules.

If you’re at risk of being sued, acting quickly can help you avoid the stress and long-term damage of a judgment. Whether it involves negotiating directly with debt collectors, joining a debt management program, or exploring a debt relief solution, don’t wait to act. The earlier you respond, the more control you’ll have and the easier it will be to protect your finances before a lawsuit begins.
https://www.cbsnews.com/news/what-is-the-lowest-amount-a-debt-collector-will-sue-for/

US inflation rises to 3% in September — paving way for fed to cut rates next week

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US Inflation Ticks Up to 3% in September, Paving the Way for Federal Reserve Rate Cuts

US inflation edged up in September to 3%, a slightly lower-than-expected figure that clears the path for the Federal Reserve to cut interest rates at its policy meeting next week.

According to the Bureau of Labor Statistics, the Consumer Price Index (CPI) increased by 3% over the past 12 months ending September. This marks the fastest inflation rate since the start of the year and a small rise from August’s 2.9%. Despite this increase, economists polled by Bloomberg had anticipated a slightly higher year-over-year inflation rate of 3.1%.

On a monthly basis, the CPI rose by 0.3%. Core inflation, which excludes the more volatile food and energy prices, also grew by 3% over the last 12 months. This was a slight decline from the previous month’s 3.1%, while economists expected it to remain steady at 3.1%.

The release of September’s CPI report was delayed by more than a week due to the ongoing federal government shutdown, now the second-longest in US history at 23 days with no clear end in sight. The report, originally scheduled for October 15, finally provided insight into inflation trends amid significant economic uncertainty.

“Inflation coming in weaker-than-expected further solidifies a continuation of the Federal Reserve’s rate cutting cycle, at least for the next two meetings,” said Skyler Weinand, Chief Investment Officer at Regan Capital. He added, “Once the government reopens and if we start to see weak unemployment data and the unemployment rate rises precipitously towards 5%, we could expect either a 50 basis point cut for December or the Fed to communicate a string of cuts in 2026.”

Wall Street welcomed the data with cautious optimism. The Dow Jones Industrial Average rose by 66 points, or 0.1%, in premarket trading. However, concerns remain about the accuracy of the consumer inflation report, given the disruption caused by the government shutdown.

The Federal Reserve is widely expected to cut interest rates at its policy meeting next Wednesday, following its first quarter-point reduction since December, which was implemented last month. However, there remains some disagreement among Fed officials on the pace of easing. For instance, Fed Governor Stephen Muir, recently appointed by President Trump, has advocated for a half-point cut, while others, including Christopher Waller, favor a more gradual quarter-point reduction.

Economists are also monitoring any indications that President Trump’s tariffs are beginning to impact consumer prices. As inflation and economic signals evolve, all eyes will remain on the Fed’s upcoming decision and the broader effects of ongoing fiscal policies.
https://nypost.com/2025/10/24/business/us-inflation-rises-to-3-in-september-paving-way-for-fed-to-cut-rates-next-week/

Christopher Miller: Protect Virginians from paying billions for data center infrastructure

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Christopher G. Miller has served as The Piedmont Environmental Council (PEC) president since 1996. He leads strategic planning for PEC, including its land conservation program, habitat restoration, rural economics, energy policy, land use policy, smart growth, and transportation policies.

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https://dailyprogress.com/opinion/column/article_1df95201-5272-54cc-a238-3db51d37f413.html

How to farm for candies in Destiny 2: Festival of the Lost 2025?

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**Candy Farming Guide in Destiny 2: Festival of the Lost 2025**

Candy is the primary currency during the **Destiny 2: Festival of the Lost 2025** event. Acquiring event gear pieces and unlocking the event seal requires a significant amount of Candy. Fortunately, almost every enemy can drop this currency, as long as players follow some basic rules during the event.

There are some challenging objectives to fully gild the event seal, such as farming for **15,000 Candies**. While this goal may seem daunting, rest assured that there are faster and more active ways to farm Candy efficiently. Along the way, you can also earn some great gear pieces.

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### How to Farm Candy Effectively

To get started, keep in mind that Candies can be collected from all enemies in any location, provided you have the **Masquerade Mask** equipped for the Festival. We recommend two main farming spots to maximize your Candy gains:

#### 1. Golgoroth Maze AFK Farm
This spot is ideal for players who want to quickly collect Candy and complete the event seal with minimal effort. By just standing and activating your abilities every 2-3 minutes, you can earn approximately **500 Candies in 10 minutes**. This method requires very little attention, making it perfect if you prefer a more passive approach.

#### 2. Haunted Altars of Sorrow (Easiest Difficulty)
For players who want to stay engaged and earn rewarding loot alongside Candy, running the Haunted Altars of Sorrow on the easiest difficulty is a great option. This method drops approximately **800 Candies in 15 minutes**, while also providing event gear and high-tier loot. However, it requires your full attention, helping to keep boredom at bay.

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### Final Tips

– Make sure to always wear your **Masquerade Mask** when farming, as it is essential to trigger Candy drops.
– Balancing between the passive Golgoroth Maze farm and the more active Altars of Sorrow runs can optimize your Candy gain and event progress.
– Don’t forget to aim for the event seal to unlock exclusive rewards that make the effort worthwhile.

—

### Related Destiny 2 Guides

– [Edge of Fate Destiny 2 Power Cap Guide](#)
– [Can You Complete The Edge of Fate Campaign Solo?](#)
– [Imminence God Roll Guide](#)
– [Easiest Way to Get the Queenbreaker Catalyst](#)
– [Do You Need to Play Past Expansions for The Edge of Fate?](#)
– [How Big is The Edge of Fate Update?](#)
– [How Many Campaign Missions Are in The Edge of Fate?](#)
– [Last Thursday God Roll Guide](#)
– [Giver’s Blessing God Roll Guide](#)
– [Epoptes Boss Encounter Guide in The Desert Perpetual](#)

Stay tuned for more tips and updates as the Festival of the Lost 2025 continues!
https://www.sportskeeda.com/mmo/how-farm-candies-destiny-2-festival-lost-2025