Good Morning,

Here's a quick preview of today’s content: Tucker Carlson interviews Telegram Founder about his recent arrest, corporations are finding new ways to raise money for crypto purchases, a couple of monster crypto venture rounds announced, survey reveals astonishing amount of F500 companies invested in blockchain & crypto, and so much more below.

Let’s hope BTC continues to follow the Global M2 chart (Chart of the Day) 😎 

Happy Wednesday – Let’s dive in.

Market Snapshot

  • Bitcoin recaptured the $110,000 level for the second consecutive day while altcoins like UNI and AAVE have surged due to positive DeFi comments from the SEC Chair

  • Despite gains, crypto market signals remain cautious, with negative funding rates suggesting potential for a future rally

  • Experts remain skeptical about a sustainable breakout, citing volatility and potential for sharp drops

Headline Roundup
The major headlines driving crypto markets

  • Telegram Founder Pavel Durov discusses his confusion on arrest in France in interview with Tucker Carlson – listen here

  • 60%+ of Fortune 500 companies are creating a use case on the blockchain according to a recent Coinbase survey (WG)

  • Two recent Coinbase ads showcase the radical drop in house prices when compared to the price of Bitcoin – see videos here

  • “A foundational American value” – SEC Chair Paul Atkins on self custody (CT)

  • Bitcoin investment company Parataxis is exploring a $200M SPAC merger for public offering (CT)

  • Bitcoin mining innovator $CAN ( ▲ 4.95% ) reveals record numbers in Q2 with 109 bitcoins mined (BM)

  • Trump backed mining company American Bitcoin scoops up 215 in first bitcoin purchase (TB)

  • $SIEB ( ▼ 1.71% ) declares S-3 shelf registration effective to raise $100M for AI and crypto asset investing (TB)

  • Quantum BioPharma LTD. receives board approval to purchase $5M of bitcoin (BM)

  • Japanese based SBI Group invested $50M in $CRCL ( ▼ 8.1% ) IPO (TB)

  • XRP Ledger becomes second chain to partner with Guggenheim Treasury Services for on-chain fixed-income asset offerings (TB)

  • $RIOT ( ▲ 3.26% ) sells $1.58M shares of $BITF after internal investment review (CD)

  • Ripple Labs commits $5M to foster education and talent in Asia-Pacific region (CT)

  • Bitcoin Core developers confirm changes in data storage restrictions in Version 30 release on October 30 (DT)

M&A Announcements

  • Humanity Protocol announces acquisition of web3 event infrastructure platform Moongate (HP)

Venture Capital

  • Crypto security startup Hypernative closes $40M Series B co-led by Ten Eleven and Ballistic Ventres (TB)

  • Noah raises $22M seed round from LocalGlobe, FJ Labs, and Felix Capital for global stablecoin payment solution (TB)

  • Lista DAO raises $10.1M across venture funding round from Yzi Labs and an Initial DEX Offering (IDO) (BN)

  • Orange Cap Games completes $3.5M fundraise led by 1kx and Yuga Labs after recent acquisition of Moonbirds IP (GG)

  • Silhouette raises $3M from RockawayX, No Limit Holding, and others to build a shield exchange on Hyperliquid (DL)

Launches

  • SocGen claims it will become the first banking group to launch a dollar-backed stablecoin on Ethereum and Solana (CD)

  • “Intraday yield” feature launched by Franklin Templeton for tokenized assets on its platform Benji (DT)

  • Canary Capital sets up Delaware Trust in preparation to file for stake Injective ETF (CT)

Regulation

  • The U.S. Senate is set to vote on the GENIUS stablecoin bill today (TB)

  • Former head of policy at A16Z Crypto wants to bring clarity around crypto classification if appointed CFTC chair (TB)

  • Hive Digital Chairman Frank Holmes says crypto regulation will need to rely on AI – check out his comments here

  • Ethiopia’s Financial Intelligence Service is preparing regulatory measures for digital assets despite national ban (CN)

  • South Korean lawmaker proposes bill for stablecoin licensing regime to align with newly elected President Lee Jae-myung (TB)

  • Digital Asset Basic Act becomes first crypto regulatory bill to advance with support from South Korea Democratic Party (CN)

Cybersecurity

  • ALEX Protocol announces 100% compensation for users affected by $8.3M security breach (TM)

  • Evita Pay founder convicted of $530M crypto scheme related to sanctioned Russian banks (CT)

  • Hackers take over Paraguay President’s X account to claim bitcoin as legal tender for the country (DY)

Extra Reads

Chart of the Day

BTC continues to closely track the Global M2 Supply 📈

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