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Here's a quick preview of today’s content: Authorities in New York seized a social media star and pet Squirrel named 'Peanut’ (often times spelled PNUT). Unfortunately, to the horror of the owner and hundreds of thousands of fans, authorities decided to euthanize the pet - out of a sign of respect, a crypto meme coin $PNUT/SOL was born that hit a market cap of $4 BILLION in less than a day.

Make sure to check out today’s sponsor Gemini which is the secure way to buy, sell, store, and convert crypto.

Happy Monday, let’s dive in.

Before The Bell

Market Snapshots

• As the space waits for election results to pour in this upcoming tomorrow the market has been in a complete stand off for big caps - Bitcoin wavered between $69 and $68,000 a coin for most the weekend with SOL and ETH not making much moves either

• Meme coins like $PNUT and other coins parodying the election candidates have exploded over the weekend in what seems to be an effort for traders to escape the big cap stand off

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

• Tornado Cash developer Roman Storm’s upcoming criminal trial was pushed from December to April (CD)

• JPMorgan maintained its $196 price target for Coinbase despite its Q3 earnings miss (TB)

• Crypto.com to offer equities trading to US customers after acquiring broker-dealer (DH)

• Florida may increase its crypto investments from its current $800M if Trump wins the presidential election (TD)

• UBS launched tokenized fund on the Ethereum network (CT)

• Mt. Gox moves $35M in Bitcoin to cold storage after postponing repayments (DC)

• The US Treasury now requires extra scrutiny for foreign real estate deals near military sites after concerns over a Chinese-backed crypto mine near a US missile base (CD)

• Ramaswamy’s Strive Enterprises launches wealth management arm to bring Bitcoin to standard portfolios (TB)

• Institutional investments in Solana blockchain DApps up 54% in Q3 (CT)

• Ethereum Foundation researchers Dankrad Feist and Justin Drake resigned from their advisory roles at EigenLayer due to conflict of interest concerns (CD)

• The US government is negotiating for the return of up to $13.3M in political donations made by former FTX executives (TB)

• ZetaChain resumes block production after a six-hour outage (TB)

• Frenchman behind Trump polymarket pump has ‘no political agenda’ per WSJ (CT)

• US store chain Sheetz expands crypto payments via Flexa (CT)

• NFT sales surge 18% as all-time volume on Solana nears $6B (CT)

• Mutant Ape NFT ripoff creator to forfeit $1.4M avoids prison (CT)

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Launches

• Crypto exchange Kraken, in partnership with Optimism, launched Ink, a new layer-2 solution, with Optimism contributing $42.5M in OP tokens (CN)

• Paxos launches new USD stablecoin with Singapore’s DBS bank (TB)

• ‘Tomarket’ a game made by Telegram reveals airdrop allocations - but you can’t trade TOMA yet (DC)

• DePIN’s XYO token, a decentralized physical infrastructure network (DePIN), launches on Solana (CT)

Venture Capital

• Crypto VC funding reached $782M in October, a 29% MoM increase (BC)

• Blockchain VC Superscrypt, which is backed by SWF Temasek, is planning to raise up to $100M for its second fund (BBG)

Regulation

• Web3 gaming company Immutable received a wells notice from the SEC due to alleged securities violations (TD)

Cybersecurity

• Gotbit founder charged with wire fraud and market manipulation (BKL)

• Radiant Capital’s $58M hack was an expensive ‘lesson’ for DeFi (CT)

• Crypto Exchange M2 confirms $13.7M breach, says issue resolved within 16 minutes (BN)

Chart of the Day

Meme Dump
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