Good Morning,

Here's a quick preview of today’s content: SEC is nocking on Immutable’s door, Mt. Gox is suspiciously moving crypto to other wallets, Florida almost owns a billion dollars worth of crypto, VanEck is investing in web3 gaming, and much more.

Happy Friday, let’s dive in.

Before The Bell

Market Snapshot: It was a rough day yesterday for ALL markets (crypto and stocks).

• Bitcoin prices dropped nearly 3% in the last 24 hours, moving from $72,500 to just above $70,000, with the overall crypto market cap decreasing by 5.5%.

• Nearly 90% of the futures positions were long (expecting price increases), highlighting a bullish market sentiment before a sharp correction.

Headline Roundup
^{_{The major headlines driving crypto markets}}

• Tether registers $2.5B in net profit for Q3, brining year-to-date profit for Q3, bringing year-to-date total to $7.7B (BBG) 

• Immutable says it received a Wells notice from US SEC over securities law violations potentially involving IMX (TB)

• Kraken has launched a desktop trading application designed for active crypto traders to track dozens of live-market feeds (TB)

• Tokenization firm Securitize surpassed $1B in tokenized onchain assets (TB)

• Robinhood reported $14B in crypto trading volume in Q3 (CD)

• BlackRock’s iShares Bitcoin Trust ETF set a new daily inflow record of $875M (DH)

• Florida now holds over $800M in crypto-related investments (BKL)

• Binance partners with Amazon Web services to enhance user experience (CT)

• This man claims to be Bitcoin creator Satoshi Nakamoto - Should we believe him? (DC)

• Trump reaffirms support for Bitcoin on Satoshi’s whitepaper anniversary (CS)

• Bitcoin mining company Riot Platforms posted a net loss of $154.4M, or $0.54 per share, compared to a $0.44 per share loss in the year-ago quarter (TB)

• Binance founder CZ, made his first public appearance since being released from his four-month prison sentence (TB)

• Pudgy Penguins game ‘Pudgy Party’ revealed for iOS and android (DC)

• Mt. Gox makes $35M BTC transfer to unmarked addresses (CT)

• In 10 months, spot Bitcoin ETFs have amassed over 50% of the assets held by gold ETFs (DC)

Launches

• Franklin Templeton will launch its tokenized money fund on Base, Coinbase’s layer-2 network (CT)

• Flipster, a crypto derivatives exchange, has partnered BNB Chain to offer fee-free withdrawals (CD)

• Paxos has expanded its stablecoin offerings with the launch of Global Dollar (USDG), which aligns with Singapore’s upcoming stablecoin regulations (FM)

Venture Capital

• Nillion, a decentralized network that offers secure storage and computation services, announce a total of $50M raised, with the latest $25M round led by Hack VC (NN)

• VanEck’s private crypto fund has invested in gaming startup Gunzilla Games, marking the asset manager’s second bet on Web3-enabled gaming (CT)

Regulation

• Russia will temporarily halt crypto mining in certain areas of the country (BC)

• Italy’s finance minister defended Italy’s plan to raise its capital gains tax on crypto to 42% (CT)

Cybersecurity

• The LottieFiles Lottie-Player project was compromised in an attack that embedded a crypto-draining script that stole crypto from website visitors (BC)

Chart of the Day

Meme Dump

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