Bitcoin rebounds past $80,000 as markets shrug off midterms and Binance hack
Bitcoin rose 3.5% to $80,500 and ether jumped 6% after Democrats won Congress, while Bitwise says the Binance hack had limited market impact.
The Block
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French Hill’s race still too close to call as House flips, changing the direction of crypto legislation
As of Wednesday afternoon, House Financial Services Committee Chair French Hill's race for reelection is too close to call.
Coinbase says 99% of customer assets sit in cold storage after Binance’s $6.3 billion breach
Coinbase says 99% of customer assets are in cold storage and it wasn't affected by the $6.3 billion Binance hack.
Schroders launches tokenized emerging markets debt fund on Solana with Centrifuge
The $1 trillion-plus asset manager brings its emerging markets bond strategy to Solana, expanding the range of onchain actively managed funds.
Circle reports $865 million in Q3 revenue and reserve income, discloses 5% workforce reduction
Circle reported $865 million in third-quarter revenue and reserve income and disclosed cuts affecting approximately 5% of its workforce.
BitGo launches institutional trading and financial solutions business led by former NYDIG executive
BitGo has launched Global Markets, an institutional trading and financial solutions business headed by former NYDIG executive Pete Janney.
DeFi Explained
DeFi 201 explains decentralized finance as a connected protocol system. It follows how DEXs and AMMs, liquidity pools, lending markets, yield aggregators, oracles, derivatives and DAO governance fit together, and where composability creates systemic risk.
Morgan Stanley among first banks to tokenize US equities, Treasurys through DTCC’s service
Morgan Stanley said it converted US equities and Treasurys into tokenized form through DTCC's new tokenization service.
French bank Crédit Mutuel Arkéa exploited for over $133 million, ZachXBT says
ZachXBT said he has a 'high degree of confidence' that the attacker is not associated with North Korea's Lazarus Group.
Former Sen. Sherrod Brown defeats Jon Husted, dealing a blow to crypto PAC Fairshake
Former Democratic Sen. Sherrod Brown is taking back his spot in the Senate, leaving crypto political action committee Fairshake with the bag.
Block Inc. shares rise 6% after-hours as it raises full-year profit forecast
Block raised its full-year gross profit forecast to $12.63 billion, which would represent a 22% year-on-year growth.
South Korea’s ruling party formally proposes deferral of crypto income tax
The party leader stated that the country should first enact the Digital Asset Basic Act, a comprehensive legal framework for crypto.