Jupiter announced on its X platform that after scaling down the DAO and resetting the community, the "Litterbox burn vote" is a major step in this new beginning, refocusing on JUP as the core of the ecosystem and rebuilding long-term confidence and consensus. Currently, 50% of Jupiter's on-chain revenue goes into the "Litterbox Trust Fund," which repurchases JUP from the open market, having accumulated approximately 130 million tokens, representing about 4% of the circulating supply. These tokens were originally planned for use by the DAO after three years, but recently, holders have felt they create uncertainty for the community and them. After considering these opinions, the DAO began voting today on whether to burn existing tokens (deadline in 4 days and 13 hours). In the coming weeks, a separate vote will be held on how to handle the continued inflow of revenue into the "Litterbox."
The General Offices of five departments, including the Ministry of Commerce, issued the "Action Plan for Improving the Quality of Urban Commerce," which points out the need to strengthen the empowerment of emerging technologies and enhance the integrated application of technologies such as artificial intelligence and blockchain in the urban commercial system.
According to Cryptobriefing, Nasdaq-listed SEGG Media plans to launch a $300 million digital asset initiative, allocating 80% of the funds to a multi-asset cryptocurrency reserve. Bitcoin will be the initial focus of this reserve, providing a stable foundation, while other assets such as ETH, SOL, and ZIG will also be included to enhance yields through validator operations.
According to SoSoValue data, on October 30th (Eastern Time), the Canary HBAR ETF (HBR) saw a net inflow of $29.9 million, a new record high since its listing. As of press time, the Canary HBAR ETF's total net asset value was $33.05 million, with an HBAR net asset ratio (market capitalization as a percentage of HBAR's total market capitalization) of 0.41%. The Canary Litecoin ETF (LTCC) saw no net inflows or outflows. As of press time, the Canary Litecoin ETF's total net asset value was $1.34 million, with an LTC net asset ratio (market capitalization as a percentage of LTC's total market capitalization) of 0.02%.
According to SoSoValue data, on October 30th (Eastern Time), the total net inflow into the US Solana spot ETF was $37.33 million. The Bitwise Solana spot ETF (BSOL) saw a single-day net inflow of $36.55 million, bringing its historical total net inflow to $153 million. The Grayscale Solana spot ETF (GSOL) saw a single-day net inflow of $780,000, bringing its historical total net inflow to $2.18 million. As of press time, the total net asset value of the Solana spot ETFs was $440 million, with a net asset value ratio (market capitalization as a percentage of total market capitalization) of 0.44%, and a historical cumulative net inflow of $155 million.
Coinbase increased its holdings by 2,772 BTC and 11,933 ETH in Q3.
Coinbase co-founder Jesse Pollak stated on the X platform that in addition to 2,772 BTC, Coinbase added 11,933 ETH in Q3 and will continue to do so. Previously, Coinbase released its Q3 financial report, showing net income of $433 million, total revenue of $1.9 billion, and an increase of $299 million in Bitcoin holdings.
An unknown hacker who bought high and sold low dumped 2,655 ETH, incurring a loss of $758,000.
According to on-chain analyst @ai_9684xtpa, an unknown hacker who engaged in high-frequency trading sold 2,655 ETH (approximately $9.93 million) at an average price of $3,740.78 over the past 10 hours. This ETH was purchased between October 21st and 23rd at an average price of $4,026.58, resulting in a loss of $758,000 from the sale. The hacker still holds 3,965.36 ETH, with a paper loss of $692,000.
The US Senate passed a resolution to end Trump's comprehensive tariff policy.
According to CCTV News, the US Senate passed a resolution by a vote of 51 to 47, ending President Trump's comprehensive tariff policy implemented globally. The Senate announced that it had approved a joint resolution terminating the national emergency declared by the president to implement the global tariffs. Earlier this week, the Senate passed two resolutions aimed at lifting tariffs imposed on Canada and Brazil. These resolutions now need to be voted on in the House of Representatives. However, House Republicans have repeatedly blocked legislation to overturn the tariffs, making it difficult for these resolutions to pass in the House. Even if the House ultimately passes them, Congress still needs a two-thirds majority to override the president's veto.
JPMorgan Chase: USDC outperforms USDT in on-chain activity and market capitalization growth.
According to The Block, JPMorgan analysts stated that Circle's stablecoin USDC has surpassed Tether's USDT in on-chain activity and market capitalization growth, driven by a clearer regulatory framework and increased institutional adoption. USDC's market capitalization has risen from approximately $43 billion in January to approximately $74 billion today, an increase of 72%, far exceeding USDT's 32% growth rate during the same period. This reflects a market shift towards stablecoins that prioritize transparency. USDC's transparent reserve management and regular audits have earned it institutional trust, and its adherence to frameworks such as the Crypto Asset Markets Regulation (MiCA) has made it a preferred stablecoin for financial institutions. The MiCA regulations, which will take effect in July 2024, have accelerated the divergence in the velocity of circulation between the two stablecoins. USDC's velocity of circulation and on-chain activity have increased, further boosted by the Genius Act. USDT, lacking MiCA authorization, has been delisted, while USDC's growth is driven by its increased integration with payment networks, its presence on chains like Solana, and its cross-chain transfer protocols. This emerging competition is likely to be a zero-sum game; unless the entire crypto market expands significantly, US stablecoin issuers will primarily be vying for market share.
Layer 2 network Unichain adds support for non-EVM assets such as DOGE, XRP, and Zcash.
According to The Block, Unichain, the Ethereum Layer 2 network launched by Uniswap Labs, will begin supporting more non-EVM assets, including Dogecoin, XRP, and Zcash. Uniswap is adding support for these three tokens through a universal protocol that creates cross-chain transferable "uAssets" by minting and burning tokens, supporting 1:1 exchange with their native versions. Uniswap Labs cautions users against sending these assets to CEXs or wallets that do not support Unichain. These assets are accessible on the Uniswap front-end website and can also be transferred across chains from its native chain.
According to on-chain analyst Yu Jin, a whale who went long on $107 million worth of BTC yesterday with 40x leverage had his position liquidated during last night's sharp decline. Ultimately, his long position worth $143 million was completely liquidated, resulting in a loss of $6.3 million. However, he just used the remaining $470,000 from last night's liquidation to continue going long on BTC with 40x leverage. This $470,000 leveraged to a full $19 million position resulted in a liquidation price only $1200 away from the current price.
According to Bloomberg, Strategy reported a net profit of $2.8 billion in the third quarter, with unrealized gains recorded due to the increased value of its approximately $69 billion cryptocurrency reserves. In announcing the results, the company stated that the yield on its variable-rate Series A perpetual extended preferred stock would be increased by 25 basis points to 10.5% in November. Co-founder Michael Saylor stated, “We believe we are at an inflection point where our net asset value multiple has been declining as the Bitcoin asset class matures and volatility decreases.” Since hitting an all-time high last November, Strategy’s stock price has fallen by approximately 45%, erasing much of the premium the stock has enjoyed over the years relative to its Bitcoin holdings. Meanwhile, demand for the preferred stock has been weak. Recent sales have fallen far short of Saylor’s anticipated large-scale fundraising target, leading to a slowdown in Bitcoin buying in recent weeks. Strategy CEO Phong Le stated in a conference call that the company is also seeking to raise funds in international markets and is considering launching a preferred stock-backed ETF. Strategy’s annual interest and dividend expenses are approximately $689 million. In its latest earnings report, the company stated that it did not issue any Class A common stock this month under its Common Stock ATM program and reiterated its commitment to continuing to take a prudent approach to raising capital through common stock. Revenue from the company's traditional enterprise software business grew 11% to $128.7 million.
According to Onchain Lens monitoring, two newly created wallets received 44,036 ETH from Kraken and BitGo, worth $166.76 million. These wallets likely belong to Bitmine.
According to Forbes, cryptocurrency exchange Coinbase reported net revenue of $433 million in the third quarter. Total revenue increased 25% quarter-over-quarter to $1.9 billion. During the quarter, Coinbase increased its Bitcoin holdings by $299 million through weekly purchases, currently holding 14,548 Bitcoins. As of September 30, its fair market value of investable crypto assets was $2.6 billion (of which $1.6 billion was Bitcoin), with an additional $1 billion in crypto assets held as collateral. Including crypto assets, Coinbase's total available resources reached $15.5 billion. Trading revenue for the quarter was $1 billion, a 37% increase from the previous quarter, but still significantly lower than at the beginning of the year. Coinbase's trading revenue is projected to reach $1.6 billion in the fourth quarter of 2024 and $1.3 billion in the first quarter of 2025. This trend indicates that despite rising Bitcoin prices and increased market activity, trading volume has not yet reached the level needed for Coinbase to significantly increase revenue. Individual investor trading volume reached $59 billion, a 37% increase quarter-over-quarter, outperforming the US spot market. Individual investor trading revenue surged to $844 million, a 30% increase. Institutional investor trading volume reached $236 billion, a 22% increase quarter-over-quarter, with trading revenue of $135 million, a 122% increase. Forty-seven days after Coinbase acquired Deribit, Deribit contributed $52 million in revenue to Coinbase. Its subscription and service revenue reached $747 million in the quarter, a 14% increase quarter-over-quarter. Stablecoin revenue increased to $355 million, a 7% increase quarter-over-quarter. The average USDC balance held in Coinbase products grew by 9% to $15 billion, while USDC balances outside the platform grew by 12% to $53 billion. Furthermore, according to Bloomberg, Coinbase CEO Brian Armstrong stated in a conference call that Coinbase plans to hold a product showcase on December 17th, where it will announce more details about tokenized stocks and prediction markets. The company will continue to focus on M&A opportunities, particularly in the trading and payments sectors.
Ethereum developers have officially set the target date for the Fusaka upgrade as December 3rd.
According to The Block, Ethereum Foundation researchers have officially finalized the mainnet hard fork date two days after launching the final testnet deployment of Fusaka, Ethereum's next major upgrade. During a full-core developer call on Thursday, Ethereum Foundation researchers stated that Fusaka will officially launch on December 3rd. The backward-compatible Fusaka hard fork will implement approximately a dozen Ethereum improvement proposals aimed at enhancing the sustainability, security, and scalability of the base chain and its surrounding Layer 2 ecosystem. Notably, Fusaka will introduce PeerDAS technology, providing validators with a more efficient way to access data. PeerDAS was originally planned for inclusion in Ethereum's previous major upgrade, Pectra, in February of this year, but was delayed due to testing needs. Furthermore, Fusaka will increase Ethereum's block gas limit from 30 million units to 150 million units and is expected to quickly double blob capacity.
According to Lookonchain, Jump Crypto transferred 1.1 million unlocked SOL (worth $205 million) to Galaxy Digital early this morning, receiving 2,455 BTC (worth $265 million) in exchange.
According to crypto journalist Eleanor Terrett, Canary Capital has filed an updated S-1 form for its XRP spot ETF, removing the "delayed amendment clause" that prevented automatic registration and handing control of the timeline to the U.S. SEC. Assuming Nasdaq approves the Form 8-A application, Canary's XRP ETF will officially launch on November 13th. Note: The reopening of the government may affect the timeline; if the application is complete and the SEC is satisfied, the launch may be earlier; if staff raise further concerns, the launch may be delayed. However, it's worth noting that the SEC Chairman himself seems to support companies utilizing the automatic registration mechanism. While not directly commenting on the ETF launch, Paul Satkins stated yesterday that he was pleased to see companies like MapLight using the 20-day statutory waiting period to list during the government shutdown and praised Bitwise and Canary for using the same legal mechanism when launching their SOL, HBAR, and LTC ETFs this week.
dYdX plans to enter the US market by the end of the year and significantly reduce transaction fees.
According to Reuters, dYdX President Eddie Zhang stated in an interview that dYdX is preparing to enter the US market before the end of the year. This shift means the decentralized exchange (DEX) will be open to US users who were previously unable to access it. Zhang said, "The platform plans to expand its trading offerings and will launch spot trading of Solana and other related cryptocurrencies in the US before the end of the year. After entering the US market, dYdX plans to drastically reduce trading fees by up to half, to between 50 and 65 basis points. Perpetual contracts will not be launched in the US, but dYdX hopes that US regulators will eventually provide guidance to decentralized platforms to enable them to offer these products."
According to CoinDesk, the FIGHT token public offering launched by Fight.ID, an official partner of the UFC, raised $183 million, far exceeding the initial target of $1.5 million, becoming the second project this week to exceed expectations. Previously, on October 27th, the project's first round of fundraising also concluded with a target of $750,000 and raised $15.7 million. The FIGHT project is operated by Concept Labs, which has UFC authorization, and is built on the Solana blockchain, aiming to bring combat sports fan culture and athlete interaction onto the blockchain. The token will be used for governance, staking, payments, and the UFC event prediction market. Officially, the total supply of FIGHT tokens is 10 billion, with 57% allocated to community incentives, 17.5% to investors, and 15% to the core team. As of now, Solscan data shows that 3,776 deposits participated in this public offering.
Nordea Bank allows clients to trade synthetic ETPs pegged to Bitcoin on its platform.
According to Bloomberg, Nordea Bank Abp, one of the largest banks in Northern Europe, has announced it is abandoning its previous reservations about cryptocurrencies and, for the first time, allowing customers to trade Bitcoin-linked exchange-traded products (ETPs) through its platform. In a statement, Nordea said that it had previously maintained a "cautious approach" due to the lack of regulation and investor protection in the crypto market, but now that the market has "matured," it has decided to open up trading of these products. However, the bank emphasized that it is only providing trading access and will not offer investment advice on the products.
According to Lookonchain statistics, 10 Bitcoin ETFs saw a net outflow of 3,693 BTC (approximately $399 million) today, with Fidelity experiencing a single-day outflow of 1,482 BTC (approximately $160 million), currently holding 205,365 BTC (approximately $22.2 billion). Meanwhile, 9 Ethereum ETFs saw a net inflow of 5,135 ETH (approximately $19.51 million), with Grayscale Ethereum Mini Trust seeing an inflow of 18,101 ETH (approximately $68.78 million), currently holding 743,453 ETH (approximately $2.83 billion).
According to Business Wire, Nasdaq-listed Core Scientific (NASDAQ: CORZ) announced that it has formally terminated its merger agreement with CoreWeave Inc., effective immediately, after failing to obtain sufficient votes to approve the merger proposal at a special shareholder meeting. Core Scientific stated that it will continue to operate as an independent publicly traded company, and its common stock will continue to trade on Nasdaq under the ticker symbol CORZ. Core Scientific is a leading North American provider of high-density hosting and digital asset mining infrastructure. It has recently accelerated its transformation of its facilities from cryptocurrency mining to supporting artificial intelligence (AI) and high-performance computing (HPC) workloads to expand its high-density hosting (HDC) revenue. Following the announcement, Core Scientific's stock price rose approximately 2.7% intraday, with the market anticipating that the company may pursue its AI computing infrastructure strategy independently.
Data from nof1.ai shows that as the market declined, several large trading models participating in the AlphaZero AI trading competition experienced significant drawdowns. The best-performing DeepSeek account saw its equity drop from $21,760 to $14,721 in a single day, a decline of 32.3%; Qwen3 fell from $17,419 to $12,227, a 29.8% drop in a single day; while the GPT5 model performed the worst, with its account balance reduced to only $2,748, representing a cumulative loss of 72.6%. According to PANews analysts, this round of drawdowns was mainly due to these AI trading models generally holding highly leveraged long positions and having lenient stop-loss strategies, triggering concentrated losses during the sharp market decline.
According to the official announcement, the public offering of the Layer-1 project MegaETH has officially ended, attracting over 50,000 participants and raising a total of $1.39 billion ($1.39 billion), representing an oversubscription rate of 27.8 times. The official announcement states that the next phase will involve allocation and refunds: users who bid below $0.0999 will automatically receive a refund; users who bid at or above $0.0999 will enter the allocation review phase, which will continue until November 5th, at which time the final allocation results will be announced, and refunds for unallocated users will begin.
Metalpha receives $12 million in strategic investment from Gortune and Avenir Group.
According to PR Newswire, Nasdaq-listed Metalalpha Technology Holding Ltd. (ticker symbol: MATH) announced that it has signed a subscription agreement with two strategic institutional investors—Gortune International Investment Limited Partnership and Avenir Group—to raise approximately $12 million through a private placement. The transaction is expected to close around November 30, 2025. Metalalpha stated that the funds will be used to accelerate business expansion in blockchain trading technology and digital asset infrastructure, for innovative investments, and for working capital purposes.
Meta's pre-market losses widened to nearly 10% after Q3 net profit fell far short of expectations.
Meta Platforms (META.O) shares extended their pre-market losses to nearly 10% after reporting third-quarter net income of $2.7 billion, far below analysts’ expectations. The company plans to raise at least $25 billion through a bond issuance.
According to The Wall Street Journal, JPMorgan Chase has completed a pilot tokenization of a private equity fund on its proprietary blockchain network. The project aims to enable on-chain representation and settlement of fund units to improve liquidity and transparency. JPMorgan Chase stated that it plans to officially launch its "Alternative Investment Fund Tokenization Platform" in 2026, providing institutional clients with on-chain issuance and trading services for private equity, credit, and other non-public market assets.
U.S. Treasury Secretary Bessant: The second round of interviews for the next Federal Reserve Chair is about to begin. The candidate may be decided before Christmas. He praised the Fed's 25-basis-point rate cut but was not satisfied with the wording. Bessant said, "The current Fed is stuck in the past. Their inflation forecasts this year have been very bad, and their models have failed." The Fed's skepticism about further rate cuts this year indicates that the institution urgently needs major reforms.
Australian police cracked encrypted wallets and recovered over $6 million in assets.
According to Decrypt, Australian Federal Police (AFP) Commissioner Krissy Barrett revealed in a speech at the National Press Club that a data analyst from the AFP Criminal Asset Recovery Task Force (CACT) successfully cracked a suspect's cryptocurrency wallet, recovering approximately $6 million (about AU$9 million) in crypto assets. Police stated that the analyst manually identified patterns in the spoofed numbers, discovering that the suspect had added numbers to their mnemonic phrase to obfuscate the investigation. After manually stripping the first digit, a 24-word seed phrase was successfully recovered, unlocking the wallet's funds. The analyst subsequently cracked a second wallet using a different method, recovering approximately $1.9 million (AU$3 million). The case is part of Operation Kraken, an operation targeting networks using cryptography for global organized crime. If the court ultimately orders forfeiture, the funds will be deposited into a federal account for Australian crime prevention programs.
According to Binance's announcement, the Momentum (MMT) Prime Sale will launch on October 31st: the maximum subscription per user is 7 BNB. After the Pre-TGE, users can claim an MMT Key from their BSC as a subscription voucher. The actual MMT (Sui) will be airdropped to Binance Alpha accounts and put into trading on the TGE day. Participation requires Binance Alpha Points eligibility, with each MMT priced at the equivalent of $0.1 USD in BNB. The total fundraising is $1.5 million, with a total allocation of 15 million MMT.
According to the CoinList Alpha page, ETH Treasury Company, an Ethereum-based treasury company jointly launched by Avenir Group (owned by Li Lin's family), Distributed Capital, Wanxiang Capital, and Meitu, is conducting a private equity (PIPE) round, aiming to raise up to $1 billion. This round will simultaneously issue 1:1 stapled warrants with an exercise price approximately 50% higher than the offering price. The PIPE is priced at approximately 0.88 times net asset value (mNAV). Initial subscription commitments from CoinList Alpha investors close on October 29th, with the final payment deadline on October 31st, 2025. Payments are accepted in USD and USDC, and ETH can also be used if necessary.
According to Solid Intel, Bank Indonesia Governor Perry Warjiyo has confirmed the launch of a national stablecoin backed by government bonds.
The Hedong Branch of the Tianjin Municipal Public Security Bureau issued a notice today stating that Qian Zhimin, the main culprit in the illegal fundraising case involving Lantian Gree Electronic Technology Co., Ltd., appeared in court at the Southwark Magistrates' Court in London, UK, on September 29, 2025, on charges of money laundering and pleaded guilty in court. Police stated that they are continuing cross-border cooperation with UK law enforcement agencies to pursue fugitives and recover stolen assets, making every effort to recover losses for those who participated in the fundraising scheme. Public information shows that Qian Zhimin was the founder and actual controller of Lantian Gree Electronic Technology Co., Ltd., and had raised funds from the public under the guise of "blockchain computing power investment" and "Bitcoin mining wealth management," involving a huge amount of money, including approximately 60,000 Bitcoins. After the case was uncovered in 2017, Qian Zhimin fled abroad and has been hiding in the UK for a long time. Police emphasized that they have not yet entrusted any third-party agency to carry out cross-border asset recovery work and reminded those who participated in the fundraising scheme to be wary of false information and avoid being deceived.
