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Here's a quick preview of today’s content: Coinbase CEO makes his political endorsement (kind of), Uniswap goes against its DAO, Polymarket cracks down on US users, and the SEC is set to refocus on crypto this upcoming year.

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Let’s dive in.

Before The Bell

Market Snapshots

• Bitcoin options traders are increasing bets that BTC will reach $80,000 by the end of November (BBG) 

• The SOL/ETH ratio hit a new all-time high as Solana continues to outperform (TD)

• Chainlink’s LINK token surged to its highest point since late September thanks to Oracle network’s introduction of a privacy-focused technology (CS)

Headline Roundup
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• Billionaire hedge fund manager Paul Tudor Jones fears 'all roads lead to inflation’ and is long bitcoin, gold, and commodities (CT)

• Michael Saylor, co-founder and executive chairman of MicroStrategy, plans to give away his Bitcoin when he dies (DC)

• Crypto prediction markets are pricing in a Trump victory (BM)

• Coinbase CEO Brian Armstrong endorses pro-crypto republicans (CR)

• Bluwhale plans to decentralize AI by tapping into smartphones through its node sale (CD) 

• Peter Todd slams HBO for putting his life in danger by calling him Bitcoin’s creator (CS)

• Chainlink partners with major financial players to improve corporate actions data reporting using AI (CD)

• Sky mulls further changes to rebrand identity, a return to MakerDAO on the table (TB)

• Crypto lobbyist group Fairshake dispensed $29M in September alone as November election approaches (DH)

• Bitcoin exchange River Financial allowing users to earn BTC interest on cash deposits (CD)

• Messari reports TRON’s protocol revenue reached an all-time high in Q3 2024 (CS)

• Avalanche Foundation introduces Visa crypto spending card (CT)

• VanEck added staking rewards to Solana Exchange-Traded Note (ETN) in Europe (BC)

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Launches

• DeFi platform Azura launched after $6.9M investment round from Winklevoss twins (CT)

• Aurum launched a $1B tokenized fund for data center investments on XRP ledger with Zoniqx (CD)

• Uniswap Labs' decision to launch Unichain without DAO approval sparked backlash from the Uniswap community (TD) 

• Solana's crypto-governance hub Realms is spinning out of Solana Labs and will be under new management (CD) 

• Digital banking network Metallicus completed its testing, certification, and launch of its services on the Federal Reserve’s FedNow platform (CT)

• Scroll launched the SCR Token to significant community frustration (BL)

• Buenos Aires rolls out blockchain-based ID for 3.6M residents (CT)

Venture Capital

• Karpatkey closed a $7M funding round to expand DAO treasury services (TB)

Regulation

• The UK’s FCA launched a major crackdown on social media influencers (TB)

• The SEC listed crypto as an examination priority for 2025 (CT) 

• SEC chair Gary Gensler defended his agency’s regulatory approach to crypto (CS)

• The US CFTC will police registered political derivatives markets (BBG)

• Polymarket enhanced its compliance measures to ensure that US users were not participating in betting on the upcoming presidential election (TD) 

• Australia's corporate regulator charged the former CEO of collapsed local cryptocurrency exchange Mine Digital, with fraud (RT)

Cybersecurity

• A judge delayed the sentencing of an IcomTech promoter convicted of wire fraud (CT) 

• Four hacked companies will pay ~$7M to settle with the SEC for downplaying the impact of the SolarWinds cyberattacks (BBG)

Extra Reads

• Yash Agarwal published a detailed thread summarizing the rationale behind Stripe’s $1.1B acquisition of stablecoin platform, Bridge, as well as what it means for the industry going forward. Read it here.

• Everything you need to know ahead of the ‘X Empire’ Telegram game airdrop (DC)

Chart of the Day

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