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Breaking News
Large Bitcoin holders are converting coins into BlackRock's iShares Bitcoin Trust (IBIT) at a record pace, with security concerns driving the shift according to the asset manager's head of digital assets.
House Democrats Weigh CLARITY Act Rewrite to Expand SEC Oversight of Crypto Markets
House Democrats are preparing a major rewrite of the CLARITY Act after their midterm election victory, a move that could shift crypto oversight toward the SEC and delay federal market rules.
Ethereum Foundation and Vitalik Buterin Sued by Former Protocol Support Lead Kayleen Fulton
Ethereum co-founder Vitalik Buterin and the Ethereum Foundation face a lawsuit from former Protocol Support Lead Kayleen Fulton in federal court.
EU Sets Up Crypto Sanctions Task Force to Curb Russian Evasion Through Digital Assets
The European Union has established a dedicated Crypto Sanctions Task Force to detect and disrupt efforts to bypass financial sanctions on Russia through digital assets, announced November 6 by Financial Services Commissioner Maria Luís Albuquerque.
What the Markets Think
Will Trump fire Jerome Powell before his term ends?: 12% odds. The market gives it slim chances, even as regulatory reshuffles dominate Washington crypto talk this week.
Will a Bitcoin ETF options product launch in 2024?: 89% odds. With BlackRock's IBIT seeing record whale conversions, derivative products look inevitable.
Will XRP reach $1 by end of 2024?: 67% odds. The Ledger's new quantum-resistant account proposal might not move price, but the market's still betting on a rally.
Ethereum above $2,500 on December 31, 2024?: 54% odds. A coin flip, even as the Foundation faces legal heat and continues its slow ETH sales.
The Big Story
Large Bitcoin holders are converting self-custody coins into shares of BlackRock's iShares Bitcoin Trust at a record pace, according to Robbie Mitchnick, the asset manager's head of digital assets. Security concerns are the main driver, Mitchnick said, as whales seek institutional-grade custody over managing private keys themselves. The conversions, which involve redeeming BTC directly for IBIT shares, have reached approximately $3.6 billion. BlackRock also moved 72,212 ETH, worth about $151.4 million, from its ETF deposit wallets to Coinbase Prime in four installments, according to onchain data tracked by Arkham Intelligence.
Top Stories
XRP Ledger Foundation Proposes Quantum-Resistant Accounts Using ML-DSA-44 With No Higher Base Fees
The XRP Ledger Foundation has outlined a plan for quantum-resistant accounts on the network using ML-DSA-44 cryptography. Users would pay no additional base fees for quantum protection under the proposal. The design aims to future-proof XRP accounts against the threat of quantum computing without imposing cost penalties on users who opt in.
Internet Computer Confirms Commercial Release of Cloud Engines, Targeting Enterprise Cloud Market
The Internet Computer is moving Cloud Engines into commercial release this week, according to founder Dominic Williams. Cloud Engines allow developers to deploy containerized applications on ICP's decentralized infrastructure, positioning the protocol to compete in the enterprise cloud market. Williams has positioned ICP as the remaining serious contender in the "world computer" category, arguing that other projects abandoned the vision.
Cosmos Contributes IBC Interoperability Protocol to Linux Foundation Decentralized Trust
Cosmos is contributing the Inter-Blockchain Communication (IBC) protocol to LF Decentralized Trust, the Linux Foundation's decentralized technology group. IBC enables separate blockchains to exchange tokens and data without intermediaries. The move puts the interoperability standard under neutral governance and could accelerate adoption beyond Cosmos-native chains.
Deep Dive of the Week
What is The Artificial Superintelligence Alliance (FET)?
The Artificial Superintelligence Alliance is a coalition of AI-focused crypto projects that share one token, FET. Fetch(.)ai and SingularityNET lead the group, with CUDOS as a compute partner. FET pays for AI agents, AI models, and services across their products. This deep dive breaks down how the alliance works, what FET actually does, and why three separate projects merged their tokens into one.
By the Numbers
714,844 self-custodial wallets: TON Blockchain registered this many wallets in 48 hours via Telegram's new Gram Wallet feature, including 329,952 in a single day, according to founder Pavel Durov.
$16.1 billion: Tron added this much native stablecoin market cap over the past year, the largest increase of any blockchain, led by USDT growth according to DefiLlama data.
$1.96 billion: Aero's cumulative trading volume in tokenized stocks since launch, ahead of Uniswap's figures, according to the decentralized exchange.
$829 billion: Real-world asset perpetual futures trading volume in October, up 29% from September, with half of US stock perps volume occurring after NYSE close, per Pyth Network data.
86%: Real robot success rate achieved by Axis Robotics' TUCO method using curated simulation data, a major improvement in sim-to-real transfer for robotics training.
On Our Radar
Charles Schwab expansion: The brokerage added Solana, Avalanche, and Chainlink spot trading to its Schwab Crypto platform for eligible customers, expanding beyond its initial Bitcoin and Ethereum offering.
Morgan Stanley tokenization: The bank agreed to acquire Vinyl Equity, an SEC-registered digital-first transfer agent, citing future tokenization plans, with the deal expected to close in Q1 2027.
Kinetiq's Elysium mainnet: The project launched an Arbitrum-based Layer 2 for Hyperliquid that uses HYPE as its gas token, aiming to extend Hyperliquid's ecosystem beyond its native L1.
Whitechain migration: W Group's blockchain is moving from a standalone Layer 1 to an Ethereum Layer 2 on Optimism's OP Stack, keeping WBT as the gas token, with public launch planned for later in November.
Until tomorrow.