Headlines
▌Google Finance to Integrate Kalshi and Polymarket Prediction Market Data
Google Finance will add support for prediction market data from Kalshi and Polymarket, allowing users to ask questions about future market events and see the current market probabilities and how those probabilities change over time after entering them in the search box. Prediction market data will be rolled out gradually in the coming weeks.
▌Charles Schwab CEO: Bitcoin Trading Service to Begin in 2026
Charles Schwab's CEO stated that they will begin offering Bitcoin trading services in 2026.
As of press time, according to CoinGecko data: BTC price is $101,169, a 24-hour change of -2.6%; ETH price is $3,291.92, a 24-hour change of -4.0%; BNB price is $944.96, a 24-hour change of +1.5%. The price of SOL is $154.10, a 24-hour change of -5.3%; the price of DOGE is $0.1606, a 24-hour change of -4.2%; the price of XRP is $2.20, a 24-hour change of -6.3%; and the price of TRX is $0.2832, a 24-hour change of -2.0%. WLFI price is $0.1142, 24-hour change -7.5%; HYPE price is $38.48, 24-hour change -7.0%. Policy On November 4, Hong Kong police announced that they had frozen approximately HK$2.75 billion in assets belonging to a syndicate suspected of cross-border telecom fraud and money laundering. Hong Kong police stated that after collecting intelligence and information from various sources, they investigated a cross-border telecom fraud syndicate. Through in-depth analysis of the fund flows of multiple companies and bank accounts related to the syndicate, police discovered that the syndicate was suspected of money laundering. Caixin inquired with the police whether the cross-border telecom fraud syndicate whose assets were frozen was the Cambodian Prince Group, and the police did not deny it. According to Hong Kong 01, the syndicate is indeed the Cambodian Prince Group.
▌Switzerland Plans to Allow Issuance of Stablecoins
The Swiss government has launched a consultation process to allow the issuance of stablecoins within its borders, marking a significant step towards a "crypto future": in the future, trust in Switzerland's reliability can be reflected not only in "numbered bank accounts" but also through blockchain tokens.
The proposal outlines two new licensing categories: "Payment Instrument Institutions" and "Crypto Institutions," aiming to bring stablecoin issuers under the Swiss financial regulatory framework. Switzerland is qualified to be a "trusted stablecoin anchor." Aside from the reputational damage caused by the 2023 collapse of Credit Suisse, Swiss financial institutions are renowned for their soundness, their regulators for their pragmatism, and their currency (the Swiss franc) is one of the most trusted currencies globally. A stablecoin pegged to the Swiss franc, highly transparent, fully reserved, and regulated by the Swiss Financial Market Supervisory Authority (Finma) is fully capable of distinguishing itself from "crude and careless crypto experiments" elsewhere—experiments that have damaged the reputation of the crypto industry. The Financial Intelligence Unit (FIU) of the Financial Services Commission of South Korea fined Upbit operator Dunamu 35.2 billion won (approximately US$24.35 million). This penalty follows the three-month suspension and disciplinary action taken against Dunamu executives and employees on February 25th of this year. The reasons for the penalty include violations of the Specific Financial Information Act, involving transactions with undeclared virtual asset operators, failure to fulfill customer due diligence obligations, failure to implement transaction restrictions, and failure to report suspicious transactions. Dunamu has stated that it accepts the decision.
▌Central Bank of Ireland: Coinbase Europe Fined €21.5 Million for Deficiencies in Transaction Monitoring System
Coinbase Europe Limited has reached a settlement with the Central Bank of Ireland (CBI) regarding coding errors that affected transaction monitoring in 2021 and 2022. This settlement stemmed from certain technical coding errors that occurred during Coinbase's monitoring of cryptocurrency transactions in 2021 and 2022.
The CBI used Coinbase's average annual revenue of €417 million from 2021 to 2024 as the benchmark for calculating the fine, ultimately requiring Coinbase to pay a fine of €21.5 million in this settlement.
Blockchain Applications
▌Coinbase CEO: Tokenized Assets Will Be More Beneficial to Everyone Because They Can Settle Instantly and Are Available 24/7
Coinbase CEO Brian Armstrong stated, "Trading hours and market closures are outdated. Tokenized assets will be more beneficial to everyone because they can settle instantly and are available 24/7."
▌Block Inc. Third Quarter Net Revenue of $6.11 Billion Misses Expectations
Block Inc.'s third-quarter net revenue was $6.11 billion, compared to analysts' expectations of $6.34 billion; third-quarter Bitcoin revenue was $1.97 billion, compared to analysts' expectations of $2.28 billion. Fourth-quarter gross profit is projected to be $2.76 billion, compared to analysts' expectations of $2.74 billion.
Block Inc.'s third-quarter net revenue was $6.11 billion, compared to analysts' expectations of $6.34 billion.
▌Hourglass: Direct Deposits via Etherscan Do Not Eligible for Stable Programs
Hourglass announced that a surge in Stable traffic is affecting the Hourglass website; due to this issue, the $100,000 minimum deposit window will be extended by at least one hour. Deposits made directly through Etherscan or programmatic methods will not qualify for Stable pre-deposit programs.
▌Tether Partners with KraneShares and Bitfinex Securities to Drive the Development of Tokenized Capital Markets
According to an official announcement, Tether's asset tokenization platform Hadron, global asset management group KraneShares, and regulated tokenized securities platform Bitfinex Securities announced a strategic agreement aimed at accelerating the development and application of tokenized securities in global markets. Tether's Hadron platform provides technical support for a secure and scalable tokenized asset market. Bitfinex Securities provides regulatory and operational capabilities, including secondary trading liquidity, through its platform licensed under the El Salvador National Digital Asset Commission (CNAD). KraneShares contributes its deep ETF expertise and global distribution channels.
▌VanEck: Digital Asset Vaults Continue to Increase Crypto Asset Holdings in October, Market Demand for "Trusted Privacy Solutions" Appears to Be Rebounding
VanEck released its October 2025 Crypto Monthly Review report, which points out that even with significant market volatility, digital asset treasuries (DATs) continued to increase their asset holdings, although their market capitalization still declined. Among the DATs this month, the most noteworthy aspect is their innovative financing models: DFDV issued tradable warrants; BNMR raised funds through a hybrid "stock + warrant" approach, issuing approximately 5.2 million shares along with 10.4 million warrants; Metaplanet Japan specifically secured $500 million in debt financing to support its stock buyback program. Monero surged 162% in October. In the crypto industry, the focus on privacy technologies experiences cyclical fluctuations every few years.
From 2016 to 2018, privacy coins were almost synonymous with "regulatory risk"; by 2021, they had gradually become marginalized in terms of functionality. However, with the continuous strengthening of blockchain monitoring technology, the market demand for "trustworthy privacy solutions" seems to be rebounding. According to OnchainLens monitoring, BlackRock deposited 4,652.87 BTC, worth $478.51 million, and 57,455 ETH, worth $194.86 million, into Coinbase. According to Arkham's monitoring, Justin Sun withdrew 45,000 ETH (worth $154.5 million) from AAVE yesterday and deposited it into Lido for staking. His total Ethereum holdings in public wallets are now worth $534 million, even exceeding the value of his TRX holdings ($519 million).
▌Swedbank Holds 79,144 Strategy Shares Worth $20 Million
According to market news: A recent report from Swedish bank Swedbank AB (Sveriges Riksbank), with assets under management of $325 billion, shows that it holds 79,144 shares of Strategy Technologies (stock code: $MSTR), corresponding to a market value of $20 million.
▌GoPlus: Creator of Meme Coin "Binance Life" Only Profited $4,000
According to GoPlus, the creator of the BSC blockchain-based Meme coin "Binance Life" only profited approximately $4,000 from the project, missing out on the opportunity to reap huge profits from the token's potential market capitalization of up to $500 million.
It is reported that after deploying the "Binance Life" token on October 4th, the creator, following his usual "flood" strategy, cleared out all the tokens in two transactions within 20 seconds, profiting approximately $4,000. However, a few hours later, the token suddenly surged, reaching a market capitalization of $500 million, with a daily trading volume of $410 million. Spurred by this, the creator subsequently created 359 tokens in the following period, averaging 51 per day, including 292 Chinese MEME tokens similar to "Binance Alipay" and "Binance Avenue," attempting to replicate the success of "Binance Life," but none yielded significant returns.
▌Circle issues 750 million USDC on the Solana network
According to Onchain Lens monitoring, Circle issued 750 million USDC on the Solana network.
Since October 11, Circle has minted a total of 5.25 billion USDC on the Solana network.
Important Economic Developments
▌UBS: If Trump's tariffs are overturned, the Fed may have an opportunity to cut interest rates amidst US fiscal pressure
UBS Group analysis points out that if the US Supreme Court rules Trump's tariff policies illegal, it is expected to force the US government to refund approximately $140 billion in taxes to importers, equivalent to 7.9% of the estimated federal budget deficit in fiscal year 2025. If the US government loses the case, the huge tax refund will immediately trigger a fiscal shock and may also lead to the formation of a structurally low-tariff trade environment. If trading partners do not retaliate, this environment will ultimately benefit the US economy and stock market.
UBS estimates that the government is likely to use legal tools such as Sections 201 and 301 of the Trade Act of 1974 to rebuild tariff barriers, but this process will take several quarters and reduce trade policy flexibility. While refunds will be a windfall for importing companies, the impact on the overall market may be limited because tariff costs have not significantly depressed S&P 500 earnings expectations. UBS believes that the ruling could ultimately lower the overall effective tariff rate, boost household purchasing power, ease inflationary pressures, and provide the Federal Reserve with more room to cut interest rates. This will generally be welcomed by stock market investors, provided trading partners avoid escalating retaliatory measures.
▌Federal Reserve Governor Milan: Expects Fed to Cut Rates in December
Federal Reserve Governor Milan stated that he expects the Fed to cut rates in December, without needing a 75 basis point cut or to make up for previous rate cuts.
Golden Encyclopedia
▌Understanding Ripple Labs' RLUSD Stablecoin
RLUSD is a stablecoin developed by Ripple Labs, the organization behind the XRP cryptocurrency. RLUSD, or Ripple Labs USD, aims to provide a stable digital currency for trading and transactions. As a stablecoin pegged to the US dollar, 1 RLUSD is equal to 1 US dollar. Each RLUSD maintains a 1:1 peg. These collateralized assets are either US dollar deposits or cash equivalents. On December 10, 2024, RLUSD received regulatory approval. A week later, on December 17, RLUSD was officially launched and listed on cryptocurrency exchanges.
RLUSD works similarly to other major US dollar-pegged stablecoins, allowing individuals and institutions to deposit capital assets such as US dollars to mint each new coin.
RLUSD works similarly to other major US dollar-pegged stablecoins, allowing individuals and institutions to deposit capital assets such as US dollars to mint each new coin.
Cryptocurrencies can be traded on the Ethereum and XRP Ledger blockchains. Ripple's new stablecoin's technology and concept are not inherently new. It is a direct competitor to established players like USDT and USDC. Collateral backing ensures price stability and avoids the volatility issues present in some other cryptocurrencies. This reliability allows businesses and traders to trade away from unpredictable price fluctuations. RLUSD is available on the XRP Ledger and Ethereum blockchains. Ripple has committed to stablecoin audits and transparency, and regularly conducts third-party audits of its collateral reserves alongside monthly financial reports. However, details regarding who will perform the audit process are yet to be determined.
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