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Good Morning,

Here's a quick preview of today’s content: Bidders hope to buyout CZ’s Binance shares, Hawk Tuah girl hints at coin launch, Caroline Ellison begins serving two-year prison sentence, Dune launches a new scammer dashboard, and more

Happy Friday, let’s dive in.

Before The Bell

Market Snapshots

• Fed Cuts Rate by 25 basis points as expected (BKL)

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

• JPMorgan rebranded its blockchain-based platform to Kinexys as it prepares to launch foreign exchange services (DC)

• Changpeng 'CZ' Zhao, the former CEO of Binance, received offers for his controlling stake in the crypto exchange (TB)

• Hailey Welch or 'Hawk Tuah girl' hints at memecoin launch (HW)

• BlackRock’s spot Bitcoin ETF records 20% growth in net assets during Q3 (CS)

• Bitwise’s CIO believes that crypto was already on a long-term path to adoption regardless of who took the White House (DH)

• The Avalanche Foundation completed the repurchase of 1.97M AVAX tokens from the now-defunct Luna Foundation Guard (CT)

• Over 75% of memecoins were created in 2024, but 97% are dead (TD)

• Ethereum holder turns $38K into $30M after 8 years (CT)

• Leading NFT marketplace OpenSea plans to launch a major rebuild of its platform (DH)

• Crypto trading firm Galaxy Digital reported the biggest trading day of the year on November 5th as Trump’s victory sparked a surge of interest in crypto (CT)

• Trump family-backed crypto project makes $1M gain in ETH following 'Tame Token' sale (CD)

• Detroiters will be able to pay their taxes in crypto next year using PayPal (CD)

• Coinbase CEO Brian Armstrong’s wealth surges by $2B following pro-crypto election (CE)

• Caroline Ellison begins serving two-year prison sentence in Connecticut for her role in the collapse of FTX (TB)

• Jito Labs records $78.9M in monthly fees for October, doubling its previous record set in May (TB)

• You can now tip devs on pump.fun (PF)

• CoinShares is hopeful a Trump administration will pass the Bitcoin Act (CD)

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Launches

• Crypto.com aims to expand its crypto offerings to include stablecoin and an ETF product in 2025 (CS)

• Blockchain analytics firm Arkham Intelligence launched a crypto derivatives exchange (CT)

• Indian crypto exchange WazirX plans to launch a decentralized exchange to enhance user security (CS)

• Hyperbridge launches on Polkadot with support for Ethereum, Optimism, BNB Chain and more (DH)

• Eclipse launches public mainnet merging the Solana Virtual Machine with Ethereum (TD)

Venture Capital

• Rekt raises $1.5M seed round backed by angels, influencers, and community, following sell-out success of Rekt drinks (DH)

Regulation

• Japan is drafting new crypto laws that prevent transferring domestic assets to foreign crypto exchanges to prevent an FTX-like collapse (YF)

• Crypto.com faces scrutiny in Poland as regulator issues public warning (CT)

• Members of the UK’s house of Parliament expressed support for the country's digital assets property bill (CD)

• The SEC filed a motion in court requesting to dismiss three defenses of the crypto exchange Kraken (CE)

Cybersecurity

• Curve Finance, a scam ios app, resurfaces amid fake crypto app surge (CT)

• Crypto analytics platform Dune launched a dashboard tracking $2.5B lost to crypto hacks and scams (CD)

• Two UK citizens were convicted of defrauding investors of $2M in a two-year-long crypto investment fraud scheme (CCN)

• North Korean crypto thieves are targeting macOS users with a new malware campaign (SW)

• Crypto firm WonderFi’s CEO kidnapped then released after paying $1M (TB)

Extra Reads

• Michael Saylor’s MicroStrategy (MSTR) began accumulating BTC in 2020 and never looked back, transforming the get-along software company into a top-performing equity investment of the past two bull cycles in the process. Many feel like he has tapped into an ‘infinite money glitch’ and here’s why

• US crypto industry’s biggest election win? Gary Gensler’s likely departure (MN)

Chart of the Day

Hacks and exploits are dow the past couple of months

Meme Dump

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