- Popular CEX Cryptocurrencies
CEX Trading Volume Top 10 and 24-Hour Price Change:
- BTC: -0.12%
- ETH: -0.93%
- SOL: -2.74%
- XRP: -2.15%
- BNB: +1.69%
- DOGE: -1.80%
- SUI: -3.71%
- TRX: -0.09%
- ADA: -2.59%
- WAL: -3.31%
24-Hour Price Increase Rankings (Data Source: OKX):
- YB: +18.55%
- ULTI: +17.01%
- DEP: +12.75%
- SOPH: +10.69%
- AUCTION: +6.73%
- ZKJ: +6.85%
- ICE: +6.69%
- RACA: +4.23%
- DOOD: +3.40%
- CATI: +3.25%
24-Hour Cryptocurrency Stock Increase Rankings (Data Source: msx.com):
- T-Rex 2X Inverse MSTR Daily (Code: MSTZ.M): +13.9%
- GraniteShares ETF Trust GraniteShares 2x Short COIN Daily ETF (Code: CONI.M): +12.27%
- ProShares UltraShort Ether ETF (Code: ETHD.M): +9.95%
- TSLA Daily 2x Short (Code: TSLQ.M): +9.44%
- Direxion Semiconductor 3x Short ETF (Code: SOXS.M): +8.67%
- ProShares UltraShort Bitcoin ETF (Code: SBIT.M): +7.93%
- Sui Group Holdings Limited (Code: SUIG.M): +5.31%
- Verb Technology Company, Inc. (Code: VERB.M): +4.18%
- Fundamental Global Inc. (Code: FGNX.M): +3.54%
- Nasdaq 100 3x Short (Code: SQQQ.M): +3.48%
- On-Chain Popular Meme Top 5 (Data Source: GMGN):
- TRIOLET
- Miri
- Bitcoinius
- TOOOOOLY
- TLM
Headlines
Melania Trump Involved in Pump-and-Dump Fraud Lawsuit for Endorsing Meme Coin MELANIA
A meme coin named MELANIA has gained attention for claiming to be "official" and being promoted by First Lady Melania Trump. The coin was launched in January this year, around the time of President Donald Trump's inauguration. In April, several crypto traders filed a class-action lawsuit accusing multiple meme coin project teams, including M3M3, LIBRA, ENRON, and TRUST, of engaging in "pump-and-dump" fraud, manipulating token issuance for personal gain and causing investor losses. This Tuesday, the plaintiffs updated the lawsuit to include MELANIA as a suspected project.
The lawsuit does not accuse Melania herself of participating in the fraud but claims she inadvertently endorsed the project, acting as a "figurehead." The plaintiffs emphasized that if the First Lady's team was aware of any illegal activities related to the project, they would immediately withdraw any authorization. The White House and the defendant's lawyer have not yet responded to requests for comment.
Federal Reserve Loses Access to Separate Employment Data from Third-Party Providers
"Federal Reserve mouthpiece" Nick Timiraos wrote that Federal Reserve officials recently lost access to employment data provided by third parties. Since 2018, payroll processing company ADP has provided the Federal Reserve with a dataset containing anonymous employment and income information, covering 20% of the private sector workforce in the U.S., and the Federal Reserve typically received this data with about a week’s delay, making it a timely and comprehensive measure of employment market conditions. Sources revealed that after Federal Reserve Governor Waller's speech at the end of August drew public attention to the Fed's long-term use of ADP employment data, ADP stopped providing this data to the Fed. The specific reasons for this change are unclear. In Waller's speech, he cited ADP's data in a footnote, further illustrating his concerns about the slowdown in the labor market. The footnote indicated that preliminary estimates showed a continued deterioration in hiring conditions over the summer, and the data's time frame exceeded the coverage period of the latest government data.
Industry News
T. Rowe Price Applies for Actively Managed Crypto ETF
According to a post by Nate Geraci, president of ETF Store, traditional asset management company T. Rowe Price, founded in 1937, has submitted an application for an actively managed cryptocurrency ETF. The company currently manages approximately $1.8 trillion in assets and officially entered the ETF space in 2020, with this direct involvement in the crypto market seen as a significant turning point for traditional asset management giants.
a16z: Stablecoin Annual Trading Volume Reaches $46 Trillion, 20 Times That of PayPal
a16z released the "State of Crypto 2025" report, indicating that the crypto market is still expanding and exhibiting a "price-developer-user" feedback loop characteristic. Crypto usage is global, but the fastest-growing area of on-chain activity comes from developing countries; developers are most active in multi-chain ecosystems like Ethereum (including L2), Solana, and Bitcoin. Additionally, stablecoins have become a widely discussed topic, with an annual trading volume of $46 trillion, 20 times that of PayPal and 3 times that of Visa.
Andreessen Horowitz's digital asset venture fund a16z Crypto pointed out in its "2025 Cryptocurrency Status Report" released on Wednesday that the issuance of over 13 million meme coins in 2025 indicates a regulatory vacuum in the cryptocurrency space, highlighting the urgent need for the U.S. to enact market structure legislation.
a16z Crypto emphasized that the passage of regulatory legislation would provide clearer framework pathways for cryptocurrency builders and investors. The passage of the "Digital Asset Market Clarity Act," currently under congressional review, would enhance protections for consumers, oversee blockchain-based intermediaries, and create clearer regulatory pathways for digital goods.
Coinbase announced that it will add support for BNB on the BNB Smart Chain, and the BNB-USD trading pair will begin to open in supported regions when liquidity conditions are met.
Project News
Binance Alpha Updates Points Rules: Zero Balance Points Will Reset Trading Volume and Task Points
According to an official announcement, Binance Alpha has updated its points system rules: if a user's balance points are 0 on a given day, their trading volume points and task points will both reset to zero. This new rule has taken effect immediately.
Polymarket Seeks Up to $15 Billion Valuation in New Funding Round
Decentralized prediction market platform Polymarket is seeking a new round of funding, targeting a valuation of up to $15 billion.
According to crypto KOL @ManaMoonNFT's post on their personal channel, the Limitless team transferred 5 million LTMS tokens to a wallet and sold them all within hours, making a total profit of $2.3 million; just when the market thought the dumping was over, the team transferred another 10 million tokens to start dumping again.
Initial wallet of the team holding 40 million tokens: 0x3c583Be48D2796534f8FC8EA214674Ff055d01d7
Dumping wallet: 0xBF3132977d9801506deF8E927c4Ff06E5b0801d1
Hyperliquid Launches Pre-Market Contracts for MegaETH (MEGA)
According to market news: Hyperliquid has launched pre-market contracts for MegaETH (MEGA).
Kraken Reports Q3 Revenue of $648 Million, Up 114% Year-Over-Year
Cryptocurrency exchange Kraken reported that its third-quarter revenue more than doubled year-over-year as the company prepares for a public listing in the U.S. next year. The statement revealed that Kraken's revenue reached $648 million, a 114% increase compared to the same period last year. The adjusted pre-tax earnings for the third quarter were $178.6 million, a significant improvement from a slight loss in the previous year. The platform's total trading volume grew by 106% to $561.9 billion, and the total number of funded accounts increased by 46% to 5.2 million. The company stated that the total assets under custody on the platform grew by 89% to $59.3 billion. With the listing approaching, Kraken has been active. On October 16, the company expanded its business footprint in the U.S. derivatives market through an acquisition, one of several acquisitions this year. The exchange has also begun supporting a variety of CME futures contracts, ranging from stock indices to energy and metals.
MEGAETH Plans to Conduct ICO via Auction with Initial Valuation of $1 Million
According to market news: MEGAETH will conduct its ICO via auction, with an initial fully diluted valuation (FDV) of $1 million, selling 5% of its token supply.
Aave DAO Proposes $50 Million Annual Budget to Support Token Buyback Program
According to market news: Aave DAO has proposed a $50 million annual budget to support a token buyback program, which will enable AaveDAO to strategically deploy capital to further accumulate AAVE tokens and indefinitely extend the existing buyback program.
Investment and Financing
Hyperliquid Strategies Files S-1 to Raise Up to $1 Billion, Potentially for HYPE Acquisition
Documents filed with the U.S. Securities and Exchange Commission (SEC) show that Hyperliquid Strategies has submitted an S-1 prospectus, planning to raise up to $1 billion. The funds will be used for general corporate purposes, including potential purchases of HYPE tokens.
Mercer Park and Cube Reach Merger Agreement, Planning to Spend $500 Million to Acquire SOL
Special purpose acquisition company Mercer Park Opportunities, listed on the Toronto Stock Exchange in Canada, announced that it has reached a $300 million business merger agreement with digital asset exchange Cube Group. After the merger is completed, the new company will use stock as consideration and spend $500 million to acquire SOL tokens to establish a Solana treasury, optimizing fund management through staking returns.
Payment Company Modern Treasury Acquires Stablecoin Startup Beam for $40 Million
Payment company Modern Treasury announced the acquisition of stablecoin startup Beam for $40 million. According to a source familiar with the matter, this acquisition is an all-stock transaction. Beam, founded in 2022, provides software for banks and other businesses to send and receive stablecoins (cryptocurrencies pegged to underlying assets like the U.S. dollar).
Regulatory Trends
U.S. SEC and CFTC Push to Implement Crypto Regulation Plans by Year-End
U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins and Commodity Futures Trading Commission (CFTC) Acting Chair Caroline Pham stated that the two regulatory agencies are pushing to complete cryptocurrency regulatory milestones by the end of the year. The CFTC plans to manage "spot crypto trading and tokenized collateral" by year-end; the SEC is advancing "Project Crypto," which aims to introduce an innovative regulatory exemption system. However, the ongoing government shutdown has limited the efficiency of both agencies. The White House previously suggested that the SEC consider a crypto safe harbor and exemptions for securities issuance, while the CFTC has been authorized to regulate the spot market for non-security digital assets. Congress is also pushing for legislation to establish clear rules for the crypto industry, with the SEC hoping that relevant bills can be signed into law by year-end to clarify market boundaries and coordinate regulatory actions.
Federal Reserve Plans New Rules to Significantly Relax Capital Requirements for Large Banks
According to sources, the Federal Reserve has submitted a revised proposal outline to other U.S. regulatory agencies that will significantly relax the capital requirements imposed on Wall Street's large banks during the Biden administration. Sources indicated that, according to official estimates, under the Federal Reserve's new proposal, the overall capital increase for most large banks will be around 3% to 7%. Although the outline did not provide specific forecast data, this estimated range is significantly lower than the original proposal's 19% increase in 2023 and also lower than the 9% increase proposed in last year's compromise plan. Some insiders stated that banks with larger trading investment portfolios may face smaller capital increases or even reductions.
Cryptocurrency Company Cryptomus Fined $126 Million by Canadian Regulators
Cryptocurrency company Xeltox Enterprises Ltd. was fined CAD 177 million (approximately USD 126 million) by Canada's anti-money laundering agency FINTRAC for allegedly violating suspicious transaction regulations thousands of times within a month. It is reported that FINTRAC CEO Sarah Paquet stated that due to the severity of the violations, the agency "had to take unprecedented enforcement action." Regulators pointed out that Cryptomus failed to report over 1,000 transactions suspected of money laundering or terrorist financing by July 2024, and during the same period, it did not report over 1,500 transactions involving individual customer receipts of more than CAD 10,000 in virtual currency.
Voices
Analyst: U.S. Government Seizes 215 BTC from Dark Web Market "Chinodrug" Operator's Wallet
Crypto analyst Emmett Gallic stated that the U.S. government has seized 215 BTC, worth approximately $23 million, from the wallet of Zhengcheng Huang, the operator of the dark web market "Chinodrug." According to the forfeiture documents, the official claimed to have seized only 199.47 BTC, but the relevant address actually held 215 BTC. Emmett Gallic pointed out that based on past experience, the U.S. government rarely reports accurate amounts in forfeiture documents.
"Father of the Currency Board" John Greenwood stated at a press conference in Hong Kong that he recommends steering clear of stablecoins, as they are essentially a stepping stone for fiat currencies to enter the crypto asset realm. He does not support the promotion of crypto assets due to their instability and unreliability, and they are often used for illegal purposes. Instead of developing stablecoins, a better approach would be to build instant transfer systems for domestic and overseas transactions to accelerate the transaction speed of the banking system.
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