🕶️ Zcash, Mining Stocks Soar, & Basel Revisits Crypto

Good Afternoon,

Happy Halloween 🎃 and 17th Bitcoin whitepaper anniversary! Today’s spotlight is on privacy coins, mining stocks, and the Basel Committee. Zcash has surged over 45%, overtaking Monero as the top privacy coin, while crypto mining stocks outperform Bitcoin amid an AI-driven pivot. Meanwhile, the Basel Committee is revisiting bank crypto rules as stablecoin use grows.

More news below! 👇

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News Roundup

Artificial Intelligence

• Advanced AI Sparks Fears of ‘Demonic Influence’ Among Religious (Decrypt)

• Bittensor Unveils Root Claim Upgrade for Greater Staking Control (TAO Daily)

Decentralized, Centralized, & Traditional Finance

• Singapore’s DBS and Goldman Sachs Execute First Bank-to-Bank Crypto Options Trade (Cointelegraph)

• South Korea–Cambodia Crypto Remittances Jump 1,400x (Cointelegraph)

• Revolut Launches 1:1 USD-to-Stablecoin Swaps With Zero Fees (Cointelegraph)

• Venezuela to Integrate Bitcoin and Stablecoins Into Banking System by 2025 (CoinCentral)

• Deutsche Bank–Backed EURAU Stablecoin Expands Multichain via Chainlink (Cointelegraph)

• BTCFi Launches on Starknet With $100M STRK Incentives (The Block)

• Ether.fi DAO Proposes $50M ETHFI Buyback as DeFi Repurchases Hit $1.4B (Ether.fi)

• Tether Reports $10B Profit and Record $135B in U.S. Treasuries for 2025 (Tether)

• Appeals Court Rules Custodia Not Entitled to Fed Master Account (The Block)

Exchanges

• Coinbase Tops Q3 Estimates as Trading Volumes and Stablecoin Revenue Surge (Reuters)

• dYdX Eyes U.S. Market Entry by 2026 Amid Favorable Regulations (Cointelegraph)

• Binance to Support AI16Z Token Swap and Rebrand to ELIZAOS on Nov. 6 (Binance)

Exchange-Traded Products

• ‘Cut-Throat’ Fee War Erupts as UK Reopens Crypto ETNs to Retail Investors (Cointelegraph)

• Canary Funds Targets Nov. 13 Launch for XRP Spot ETF (Crypto Briefing)

• U.S. Bitcoin spot ETFs logged $488M in net outflows on Oct. 30.

• On Oct. 30, U.S. Ethereum spot ETFs recorded $184M in net outflows.

• U.S. Solana spot ETFs recorded $37.3M in net inflows on Oct. 30.

• REX Launches IncomeMax ETF Targeting Volatile Crypto Stocks (Decrypt)

Infrastructure

• Flutterwave, Polygon Partner on Africa-Wide Stablecoin Payments Network (Cointelegraph)

• Uniswap’s Unichain L2 Adds DOGE, XRP, and Zcash Support (The Block)

• Ethereum Devs Lock In Dec. 3 for Fusaka Upgrade, Introducing PeerDAS Scaling (Decrypt)

Markets

• Bitcoin Dips Below $107K as Fed, Trump-Xi Meeting Rattle Markets (The Defiant)

• BNB Narrowly Leads XRP as Traders Bet on a Tight Market Cap Battle (Decrypt)

• Bitcoin Nears $106K as Tech Stock Sell-Off Sparks Fears (Cointelegraph)

• Onchain Revenue Set to Hit $20B in 2025, Signaling Crypto’s Maturity (Cointelelgraph)

• Panic and Greed Trap Ethereum in Volatile Cycle, Analysts Say (Decrypt)

• Bitcoin Rebounds to $110K as Trump–Xi Accord Lifts Risk Sentiment (The Block)

• XRP Falls Ahead of Ripple Swell Event (Cointelegraph)

• Zcash Soars 45%, Overtakes Monero as Top Privacy Coin (Cointelegraph)

• Myriad Traders Turn Bearish on Bitcoin as U.S. Shutdown Odds Spike (Decrypt)

• Coinbase CEO Drops Crypto Buzzwords, Unexpectedly Resolving Prediction Markets (Cointelegraph)

Meme Coins

• Dogecoin Logo to Feature on Italian Soccer Team’s Jerseys and Stadium (Decrypt)

Mining

• Crypto Mining Stocks Soar, Outpacing Bitcoin Amid AI Pivot (The Block)

• Bitcoin Miners Fuel $11B Convertible Bond Boom to Fund AI Pivot (Cointelegraph)

• Riot Rebounds With $104.5M Q3 Profit, Fueled by Bitcoin Gains and Data Center Expansion (The Block)

• Canaan to Power Japan’s Grid With 4.5MW of Water-Cooled Bitcoin Miners (Cointelegraph)

Non-Fungible Tokens

• NFT Market Craters as OpenSea Volumes Plunge 50% After Farming Drop-Off (The Defiant)

Politics & Regulation

• Lawmakers Push Crypto Market Structure Bill Despite US Gov’t Shutdown (Cointelegraph)

• Coinbase Rejects Senator Murphy’s ‘Trump Favoritism’ Accusations as “Ridiculous” (The Block)

• Sen. Murphy Accuses Binance of Aiding Trump’s ‘Corrupt Crypto Deals’ (Decrypt)

• Stablecoin Boom Triggers Global Review of Bank Crypto Rules (Bloomberg)

• U.S. Treasury Secretary Meets Singapore PM to Discuss Digital Assets and Sanctions Cooperation (Treasury)

Token Generation Events

• Retail Investors Pour $1.4B Into Oversubscribed MegaETH, zkPass, and Momentum ICOs (Cointelegraph)

Treasuries & Reserves

• Nakamoto Holdings Stock Crashes 98% After $563M PIPE Sell-Off (Cointelegraph)

• Coinbase Adds 2,772 BTC to Bitcoin Holdings in Q3 (Cointelegraph)

• Strategy Posts $2.8B Q3 Profit, Treasury Tops $68B in BTC (Decrypt)

• Bitmine Buys 44,036 ETH During Market Dip (Bitget)

• Steak ’n Shake Launches Strategic Bitcoin Reserve (Steak ‘n Shake)

• Brazil’s OranjeBTC Pauses Bitcoin Buys, Launches Stock Buybacks (Decrypt)

Other News

• Bitcoin White Paper Turns 17 as ‘Uptober’ Streak Ends (Cointelegraph)

• NY Court Extends $63M USDC Freeze in Multichain Liquidation Case (Decrypt)

• SBF Claims FTX Was Never Insolvent as Creditors Near Full Repayment (SBF)

• Palantir Sues Ex-Engineers for Allegedly Building ‘Copycat’ AI Startup (Decrypt)

• Meta Seeks Dismissal of Porn-Piracy Suit (Decrypt)

• T3 Financial Crime Unit Freezes Over $300M in Crypto Crimes Globally (Tether)

• Fold and Steak ’n Shake Launch Bitcoin Burger Rewards Program (The Block)

• Cambodian Tycoon Chen Zhi Has SGD $150M Frozen Amid Global Fraud, Money-Laundering Probe (Caixin)

• XRP Creator Defends Token’s Value: “Utility Matters” (DL News)

Check This Out!

Over the past six months, crypto slightly outperformed Big Tech, posting median gains of 37% compared to 33% for major tech stocks.

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