24H Hot Cryptocurrencies and News | US lawmakers to meet with crypto mogul David Sacks to discuss market structure legislation; US government may find it difficult to resume operations in the short term, with only a 3% chance of ending the shutdown before November 7 (November 6)

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7 hours ago

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  • FIL: +58.05%
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24-Hour Price Increase Rankings (Data Source: OKX):

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24-Hour Cryptocurrency Stock Price Increase Rankings (Data Source: msx.com):

  • T-Rex 2X Inverse MSTR Daily Target ETF - MSX (MSTZ.M): 14.03%
  • Mercurity Fintech Holding Inc. Ordinary Shares - MSX (MFH.M): 13.53%
  • GraniteShares ETF Trust GraniteShares 2x Short COIN Daily ETF - MSX (CONI.M): 12.98%
  • XPeng Inc. American depositary shares, each representing two Class A ordinary shares - MSX (XPEV.M): 10.74%
  • ProShares UltraShort Ether ETF - MSX (ETHD.M): 7.48%
  • T-Rex 2X Inverse NVIDIA Daily Target ETF - MSX (NVDQ.M): 7.21%
  • Direxion Daily Semiconductor Bear 3X Shares - MSX (SOXS.M): 6.04%
  • ProShares UltraShort Bitcoin ETF - MSX (SBIT.M): 5.73%
  • VivoPower International PLC - MSX (VVPR.M): 5.52%
  • ProShares UltraPro Short QQQ - MSX (SQQQ.M): 4.81%
  1. On-Chain Popular Meme Top 5 (Data Source: GMGN):
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Headlines

US Lawmakers to Meet with Crypto Kingpin David Sacks to Discuss Market Structure Bill

US lawmakers plan to meet with David Sacks, a crypto advisor from the Trump administration, to discuss matters related to the crypto market structure bill.

US Government Shutdown Creates Uncertain Outlook, Fed May Pause Rate Cuts in December

Simon Ballard from First Abu Dhabi Bank and Almaha Alnuami stated that the US government shutdown and the interruption of official economic data releases have made the outlook more complex and unclear, potentially leading the Fed to pause rate cuts next month. The two analysts pointed out that the uncertainty brought by the government shutdown may strengthen the Fed's reasons to "hit the pause button" in December, regardless of how strong the objections from Governor Milan are. Fed Chairman Jerome Powell also hinted after last week's 25 basis point rate cut that a rate cut in December is "not a done deal."

US Government May Struggle to Resume Operations Soon, Probability of Ending Shutdown Before November 7 is Only 3%

According to Polymarket data, the probability of the contract stating "the US government shutdown ends after November 16" has risen to 44%, indicating market expectations that the government will struggle to resume operations in the short term. The data shows that the probability of "ending between November 4 and 7" is 3%, "between November 8 and 11" is 22%, and "between November 12 and 15" is 30%. As of now, the US federal government shutdown has lasted 37 days, setting a new historical record. The previous shutdown from late 2018 to early 2019 lasted 35 days. Analysts pointed out that both parties remain deadlocked on the funding bill issue, with the Senate failing to pass the temporary budget proposed by the Republicans in 13 previous votes.

Bernstein: Prediction Markets are Evolving into Broader Information Markets

Bernstein analysts stated that as the regulatory environment becomes clearer, institutional investment increases, asset tokenization develops, and deep integration with retail brokers and crypto markets continues, prediction platforms are accelerating their transformation into broader information-driven trading venues, a trend that will drive global liquidity and mainstream adoption growth.

In a report on Thursday, an analyst team led by Gautam Chhugani pointed out that prediction markets are "evolving into broader information markets" and emphasized that market demand has far exceeded the political and sports fields, expanding into economics, culture, corporate activities, and financial indicators.

Prediction markets allow users to trade "yes/no" type contracts: if the event occurs, it pays $1; if it does not occur, it pays $0, and the contract price reflects the market's implied probability of the event's outcome.

Wintermute: Liquidity Inflows Have Stopped, Current Capital is Only Rotating Internally

Wintermute posted on X platform stating that liquidity drives the crypto cycle, but currently, funds have stopped flowing in. Since the beginning of 2024, the total scale of stablecoins, ETFs, and DAT has grown from $180 billion to $560 billion, but the growth momentum has slowed. Capital is rotating internally within the crypto market rather than new funds entering, leading to a rapid end of the rebound and a continuous narrowing of market breadth.

Industry News

SBF Account Reiterates FTX's Ability to Repay Debts, but Debtors Withhold Funds Preventing Normal Compensation

FTX founder SBF's X platform account retweeted a post "satirizing the FTX bankruptcy management process" and stated: "FTX has always had the ability to repay, has never been insolvent, whether before, on, or after the bankruptcy filing. However, FTX's debtors are still withholding funds, for example, see Mr. Ji fighting for Chinese creditors, which deserves more attention. Additionally, SBF's account emphasized in the comments: "What I mean by solvency is that assets exceed liabilities, and even the debtors now acknowledge this: before, on, and after the filing." with a corresponding news link attached.

Odaily Planet Daily Note: Previously, it was reported that SBF's X platform account is managed by his friends and retweets messages.

Polymarket Announces Its Prediction Market Odds Will Soon Be Integrated into Google

Polymarket tweeted that its prediction market odds will soon be integrated into Google.

Circle Submits Comments on the Implementation of the GENIUS Act

Circle announced that it has submitted comments to the US Treasury regarding the implementation of the GENIUS Act, emphasizing recommendations for a comprehensive regulatory framework for stablecoins to ensure consumer protection, market fairness, and global interoperability. Circle proposed a series of policy principles, including protecting customer funds, achieving interoperability through mutual recognition, ensuring the same rules apply to the same activities, maintaining competitive balance domestically and internationally, setting clear consequences and "emergency" plans, and also pointed out that rule-making should reinforce Congress's intent, providing clear and strong rules for all issuers engaging with the US market while offering the American people transparent and easy-to-understand financial products and services.

Robinhood Considering Adding BTC to Its Corporate Treasury

According to market news: Robinhood is considering adding Bitcoin to its corporate treasury holdings.

Project News

Aria Announces Launch and Airdrop Claim Time for Native Token ARIAIP

The flagship IPRWA protocol of the Story ecosystem, Aria, announced that its native token ARIAIP will officially launch and open for airdrop claims on November 7, 2025, at 7:00 (UTC). The community airdrop snapshot time is set for November 5, 13:00 (UTC), and the claim window will be open from November 7, 7:00 (UTC) to December 7, 7:00 (UTC). Eligible claimants include Aria Season 1 point users and Story $IP community and stakers, and the airdrop requires holding a certain amount of $IP to pay gas fees to complete the claim.

Previously reported, Binance Alpha announced that Aria (ARIAIP) will be launched on November 7, and eligible users can also use Alpha points to claim the airdrop.

Stable Pre-deposit Phase Two Scale Exceeds $253 Million, Over 60 Wallets Misdeposit

According to monitoring by Lookonchain, the scale of Stable pre-deposit phase two has exceeded $253 million, while over 60 wallets mistakenly filled in the contract address as the receiving address during deposits, involving a total of over $2.34 million. The project team reminds users to double-check the receiving address before making deposits to avoid sending funds to the wrong address.

Lido Launches Strategic Vault Lido stRATEGY Vault

Staking protocol Lido announced the launch of the strategic vault Lido stRATEGY Vault, which is built on the Mellow Core Vault technology stack, providing diversified investment opportunities in leading DeFi strategies, including Aave, Ethena, and Uniswap.

PeckShield: Several Vaults on Euler Reach 100% Utilization

PeckShield posted on the X platform stating that several Curator vaults on the crypto lending protocol Euler have reached 100% utilization, which seems somewhat abnormal.

Previously reported, after the xUSD depegging, the oracle price data on Euler allegedly failed to update in a timely manner.

MEV Capital and Re7 Labs Reach 99% Utilization in Lista DAO's Fund Pool Triggering Forced Liquidation

According to monitoring by Lookonchain, MEV Capital and Re7 Labs have reached 99% utilization in the fund pool managed by Lista DAO, triggering forced liquidation. If users have deposited funds in the DeFi protocol, please pay attention to safety, as multiple platforms' vault utilization rates have exceeded 90%.

Investment and Financing

YZi Labs Announces Investment in Funes

According to official news, YZi Labs announced an investment in Funes, with the specific investment amount not disclosed. Funes is a digital heritage platform that is building a 3D architectural model open archive, and the new funds will support its advancement of AI × culture × real-world data infrastructure.

Google to Increase Investment in "OpenAI Competitor" Anthropic, Valuation May Exceed $35 Billion

Insiders revealed that Google is currently in preliminary discussions to significantly increase its investment in the AI startup Anthropic. Media reports indicate that after the completion of the new round of financing, Anthropic's valuation may exceed $35 billion. Insiders added that this potential new agreement is still under negotiation and may include a priced financing round early next year, issuing convertible bonds, or making strategic investments, meaning Google would provide more cloud computing services to Anthropic. A few weeks ago, the two companies announced an agreement under which Google would supply up to 1 million dedicated AI chips to the AI startup Anthropic PBC. This arrangement provides Anthropic with stronger computing power support while solidifying Google's position as a major investor and key infrastructure provider, expanding its lead in the increasingly competitive large AI model arms race.

Previously reported, Circle launched a payment-oriented Arc blockchain public test, with over 100 institutions participating, including Anthropic, Visa, HSBC, BlackRock, AWS, and others.

CoreWeave Signs $1.17 Billion AI Agreement with Nvidia-Backed Vast Data

CoreWeave has signed a $1.17 billion AI agreement with Vast Data, which is backed by Nvidia. Following this news, CoreWeave's US stock pre-market rose nearly 4%. According to the agreement, CoreWeave will use Vast as its primary data platform for cloud infrastructure, providing customers with access to graphics processing units (GPUs) for training and running AI models. Vast stated that such contracts typically last three to five years but declined to disclose detailed financial terms.

Fitell Corporation Completes $50 Million Financing, Plans to Convert Proceeds into Stablecoins

Nasdaq-listed Fitell Corporation announced it has raised $50 million through the issuance of convertible bonds, and the company will convert the net proceeds into stablecoin assets to broaden its balance sheet. It will also use stablecoins to support an AI-driven robotics and automation systems development company, 2F Robotics.

Arx Research Completes $6.1 Million Seed Round Financing, Castle Island Ventures Leads

Hardware and software company Arx Research announced the completion of a $6.1 million seed round financing, led by Castle Island Ventures, with participation from Inflection, Placeholder, Seed Club Ventures, and 1kx. Arx Research co-founder and CEO Cameron Robertson stated that this round of financing uses a SAFE (Simple Agreement for Future Equity) structure but did not disclose the financing timeline or post-investment valuation. The new funds will support the launch of a handheld sales terminal device that integrates digital assets with traditional payments.

Cryptocurrency Trading App Fomo Completes $17 Million Series A Financing, Benchmark Leads

Cryptocurrency trading app Fomo announced the completion of $17 million in Series A financing, led by Benchmark, bringing the company's total financing to $19 million. It is reported that Fomo was launched in May this year, enabling fast account opening and trading through Apple Pay integration. The platform supports cross-chain trading of millions of crypto assets, charges a 0.5% trading fee, and waives gas fees, while also incorporating social features that allow users to track others' trading strategies.

Cross-Chain Infrastructure Startup Sprinter Completes $5.2 Million Seed Round Financing, Robot Ventures Leads

Sprinter, a cross-chain infrastructure startup founded by Ethereum developers, has completed $5.2 million in seed round financing, led by Robot Ventures, with participation from A Capital, Atka Capital, Topology, and Uniswap Labs Ventures. Several well-known angel investors also participated, including Ameen Soleimani of 0xbow and Eva Beylin of Optimism.

Sprinter focuses on improving the functionality of blockchain "solvers," which are off-chain robots, algorithms, and market makers that execute on-chain operations on behalf of users. The protocol is currently in private testing, with core products including Sprinter Stash (a cross-chain credit protocol providing unsecured credit for solvers and market makers) and Sprinter Solve (an exchange API based on quote requests for dApps, wallets, and protocols).

Hong Kong and China Gas Secures HKD 100 Million Credit Line to Complete RWA Tokenization Project

Hong Kong-listed Hong Kong and China Gas announced that it has secured a HKD 100 million credit line from Chuangxing Bank as underlying assets to complete the RWA tokenization project, which is reportedly supported by Ant Group's Jovay Layer2 blockchain, with subsequent key financial and operational data being instantly recorded on-chain.

Regulatory Trends

Coinbase Urges Treasury to Ensure GENIUS Act Regulatory Rules Align with Congressional Intent

Coinbase submitted feedback to the US Treasury, urging it to strictly adhere to congressional intent when formulating the implementation rules for the GENIUS Act, avoiding overregulation, particularly excluding non-financial software, blockchain validators, and open-source protocols. Coinbase's Chief Policy Officer pointed out that regulation should not treat third-party reward programs as "interest" to avoid contradicting the spirit of the act. Coinbase also suggested treating payment stablecoins as cash equivalents for related tax and accounting issues. The GENIUS Act was signed in July 2025, establishing a federal regulatory framework for stablecoins.

Goldman Sachs: Even if the US Supreme Court Rules Trump's Tariffs Illegal, Overall Trade Situation Impact Will Be Limited

Goldman Sachs pointed out that during the oral arguments, several U.S. Supreme Court justices expressed skepticism about Trump's exercise of power under the International Emergency Economic Powers Act, indicating that the Supreme Court is increasingly likely to rule that the government's use of emergency powers to impose tariffs is unconstitutional. The prediction market now estimates that the probability of the Supreme Court upholding the tariffs has decreased by about 10 percentage points. The final ruling is expected to be announced between December 2025 and January 2026. If the Supreme Court rules against the legality of the tariffs, the government may need several months to refund the approximately $115 billion to $145 billion in tariffs that have been collected by that time. However, the government is likely to seek other legal grounds to re-implement similar tariffs, which means the overall trade impact will remain limited. Any tariff reduction measures may only apply to smaller trading partners, and no significant changes are expected for major economies like the EU. However, the processing of refunds and temporary tariff gaps may trigger short-term market volatility.

South Korean Financial Regulator Completes 35.2 Billion Won Fine on Upbit Operator Dunamu

The Financial Intelligence Unit (FIU) of the South Korean Financial Services Commission announced that it has imposed a fine of 35.2 billion won (approximately $24.35 million) on Dunamu, the operator of Upbit. This penalty follows the three-month suspension and disciplinary actions against Dunamu executives and employees on February 25 of this year. The reasons for the penalty include violations of the Specific Financial Information Act, involving transactions with unreported virtual asset operators, failure to perform customer due diligence, lack of transaction restrictions, and failure to report suspicious transactions.

Coinbase Reaches Settlement with Central Bank of Ireland, Will Pay €21.5 Million Fine

According to official news, Coinbase Europe Limited has reached a settlement with the Central Bank of Ireland (CBI) regarding coding errors that affected transaction monitoring in 2021 and 2022. This settlement stems from certain technical coding errors that occurred during Coinbase's monitoring of cryptocurrency transactions in 2021 and 2022. The CBI calculated the fine based on Coinbase's average annual revenue of €417 million from 2021 to 2024, resulting in Coinbase having to pay a fine of €21.5 million in this settlement.

Voices from Individuals

He Yi: By Historical Percentages, We Are Not at the Market Bottom, the Volatility Paradigm Will Change

Community users questioned He Yi, co-founder of Binance, pointing out that the Bitcoin price data she previously listed were all bear market lows, asking why she is so certain that we are not in a bear market now. In response, He Yi stated: "I am not certain that we are not in a bear market, but it does not affect my long-term confidence in the industry. If calculated by historical percentages, it is obviously not the bottom; however, the underlying logic of the industry has changed, and the volatility paradigm will also change. History does not repeat itself, but it rhymes."

Previously reported: He Yi: In every cycle, some people become disheartened and exit the market, while others navigate it with ease

CZ: Giggle Academy Currently Provides Free Education to 70,000 Children

CZ posted on the X platform stating that Giggle Academy currently provides free education to 70,000 children. The new version is backward compatible with iOS 15 to accommodate its user base.

Arthur Hayes: ZEC Target Price is $1,000

Arthur Hayes posted on the X platform stating that ZEC's next target price is $1,000 and hopes all short sellers continue to short.

Morpho Co-founder: Some Fund Pools' Lack of Liquidity is Not a System Flaw, but a Natural Response Mechanism Under Pressure

Morpho co-founder Merlin Egalite responded on the X platform regarding the "lack of liquidity" in some fund pools, stating that when the market is under pressure, people often choose to reduce risk, which means many lenders will simultaneously attempt to withdraw all their funds, leading to increased fund utilization and decreased liquidity. In extreme cases, this can even result in a temporary lack of available liquidity. This is not a flaw in the system but a natural response mechanism of the lending pool under pressure. To restore balance, the interest rate model will automatically adjust the borrowing rates upward.

Taking Morpho as an example, its target fund utilization rate is 90%, meaning that in most cases, about 90% of deposited funds will be lent out. When utilization spikes to 100%, interest rates will increase fourfold. In the vast majority of cases, market interest rates typically restore balance within minutes (around 90% utilization), while during periods of significant market pressure, recovery may take several hours.

Additionally, the so-called "lack of liquidity" is localized and controllable, only appearing in specific markets that are out of balance. A few days ago, among Morpho's 320 fund pools, only 3-4 experienced a brief lack of liquidity, while the rest of the vaults operated normally. Therefore, claims that "the entire protocol is out of liquidity" are misleading. A lack of liquidity does not equate to losses or bad debts. It simply means that a large amount of funds are borrowed out in the short term, and the market will respond in real-time, repricing risk and seeking new balance points.

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