Senator Warren Urges Caution as MrBeast's Firm Explores Crypto Offering in Banking App

Ripple's CTO, David Schwartz, emphasizes XRP's utility despite acknowledging speculation as the main driver of cryptocurrency value. Schwartz will step down from his role at the end of the year, as XRP's price fluctuates with market hype.

U.S. spot Bitcoin ETFs experienced significant outflows this week, with BlackRock's IBIT leading the way with its largest single-day redemption since early August. The total outflow reached $388.43 million on October 30, signaling a shift in institutional sentiment.

H.C. Wainwright upgraded Coinbase to buy and raised its price target to $425 before the crypto exchange reported third-quarter earnings. The bank cited bullish outlook for crypto prices, driven by seasonal strength, institutional demand, and favorable regulatory momentum.

Santiment's analysis shows a pattern where Ethereum's price tops and bottoms align with extreme funding rates, leading to predictable market cycles. Traders' reactions to leverage rather than genuine demand amplify volatility, making it challenging to determine the market's true direction.

T3 Financial Crime Unit, formed by Tether, Tron, and TRM Labs, froze $300 million in tainted funds in its first year, showcasing the stablecoin industry's self-policing capabilities. The unit's global enforcement model for blockchain security signifies a shift in crypto compliance and accountability standards.

Senator Chris Murphy accused Binance of aiding corrupt deals for a presidential pardon of its founder CZ. The accusations intensified after Binance US listed USD1, a stablecoin from Trump's project, following CZ's pardon by Trump.

Riot Platforms (RIOT) surprised investors by reporting a third-quarter profit of $104.5 million, with shares rising 5% pre-market. The company's revenue more than doubled to $180.2 million, driven by a significant increase in bitcoin mining revenue.

The Federal Reserve's decision to end its quantitative tightening program has put the crypto markets in a critical position, with investors pondering the potential outcomes for Bitcoin's future. Experts suggest that the Fed's pivot could bring about volatility but ultimately attract capital into higher-yielding investments.

A document shared by Sam Bankman-Fried's X account defends FTX, claiming it was never insolvent. The document states that FTX faced a liquidity crisis disrupted by external counsel, and argues that FTX and Alameda would have holdings worth $136 billion if they survived.

A New York judge has extended a freeze on wallets containing $63 million in stolen USDC stablecoins, supporting Singapore liquidators' efforts to gain U.S. recognition for the Multichain case. The order aims to prevent potential harm if the freeze is lifted, and it also halts a class action lawsuit seeking control of the funds.