Fed mouthpiece: Growing divisions within the Fed over a December rate cut
According to Jinshi News, Nick Timiraos, a well-known voice within the Federal Reserve, stated that internal divisions have cast a shadow over the path to interest rate cuts. Such a level of disagreement is unprecedented during Fed Chairman Powell's nearly eight-year tenure. Officials are divided on whether persistent inflation or a sluggish labor market poses a greater threat, and even resuming official economic data may not bridge the gap. While investors still believe a rate cut at the next Fed meeting is highly likely, this split complicates plans that seemed feasible less than two months ago. Whether officials will cut rates again at the December meeting remains uncertain. New data might quell the debate. Some officials believe the December and January meetings are largely interchangeable, making the year-end rate cut seem somewhat deliberate. Another possibility is a December rate cut accompanied by guidance that sets a higher threshold for subsequent cuts.
Lighter TVL has reached $1.17 billion, surpassing Linea's.
According to L2beat data, Lighter's total value locked (TVL) has reached $1.17 billion, surpassing Linea's $1.04 billion. This comes after news yesterday that the cryptocurrency trading protocol Lighter completed a $68 million funding round, led by Founders Fund and Ribbit Capital.
Sonic Labs CEO Mitchell Demeter shared the project's next phase plans on the X platform. Demeter stated that Sonic is currently well-funded, has no liquidity concerns, and possesses the resources needed to execute its long-term plans. In this phase of development, Sonic will be driven by practical use, clear economic benefits, and consistent deliverables, rather than speculation. Furthermore, Sonic plans to refine its token economics, aiming for deflation, and intends to introduce a new tiered fee monetization (FeeM) structure with reward tiers ranging from 15% to 90%. Of this, 10% will be allocated to validators, and the remainder will be burned. This initiative rewards practical use and network activity while simultaneously promoting deflation. Sonic is also moving forward with plans to establish an office in New York City to solidify its growing team and refocus on institutional partnerships and policy relationships. Currently, Sonic's focus is shifting to driving business value upgrades, adopting select Ethereum Improvement Proposals (EIPs), and launching Sonic Improvement Proposals (SIPs).
GoPlus: The Hello 402 contract carries the risk of unlimited issuance and centralized manipulation.
The GoPlus Chinese community disclosed on the X platform that the Hello 402 contract has some hidden risks—unlimited issuance and centralized manipulation. 1. The administrator address has extremely high privileges, completely controlling the minting and distribution of H402 tokens. For example: the `addTokenCredits` function allocates H402 token minting shares to users, but does not check whether it will exceed the total `MAX_SUPPLY`, creating a backdoor for unlimited issuance; the `redeemTokenCredits` function allows users to actually mint H402 tokens according to their allocated shares; the `WithdrawDevToken` function allows the administrator address to mint all unallocated shares at once, posing a high risk of centralized manipulation. 2. The project team's statement on X that the `WithdrawDevToken` function is only for promises such as "token replenishment," "ecosystem incentives," and "profit margins" after the private sale ends has not been concretely implemented at the contract level, posing a high risk of centralized default. Previously, OKX stated yesterday that it has launched an investigation into the abnormal behavior of Hello402, will continue to track on-chain evidence, and reserves the right to take legal action.
According to Onchain Lens monitoring, in the past 7 hours, a newly created wallet received 1,130 bitcoins from FalconX, worth $116.46 million.
According to CoinDesk, Fred Thiel, CEO of MARA Holdings, stated that the Bitcoin mining industry is entering a difficult period, characterized by increased competition, rising energy demands, and shrinking profits. He explained that Bitcoin mining is a zero-sum game; increased computing power raises mining difficulty and energy costs, squeezing profit margins. The industry is becoming increasingly brutal, and only mining companies with access to low-cost, reliable energy or adopting new business models can survive. Many mining companies are shifting towards artificial intelligence or high-performance computing infrastructure, while some are being squeezed out of the market by participants deploying their own hardware at low cost. Thiel warned that the environment for mining companies will be even more severe after the next Bitcoin halving in 2028, with block rewards dropping to just over 1.5 Bitcoins. Unless transaction fees rise or the price of Bitcoin surges, the mining economy will be unsustainable. Bitcoin was designed so that transaction fees would eventually replace block rewards, but this has not happened. Currently, transaction fees are generally low, and even brief spikes are unlikely to replace block rewards. In this environment, small mining companies face enormous pressure. Large mining companies are adapting by controlling energy sources and investing in dedicated AI infrastructure, while leaner mining companies may be forced to shut down. Thiel predicts the market will self-regulate, stating, "By 2028, mining companies will either become power producers, be acquired by power producers, or partner with power producers."
Former BlackRock executive Joseph Chalom called Ethereum "infrastructure" for Wall Street.
According to CoinDesk, Joseph Chalom, co-CEO of Sharplink and former head of digital asset strategy at BlackRock, stated that Ethereum is not just another blockchain, but rather the cornerstone upon which Wall Street will ultimately build its (financial) infrastructure. He believes Ethereum possesses the trust, security, and liquidity that financial institutions value, which is why he has staked his career on it. He stated that Ethereum has a large amount of stablecoin, asset tokenization, and smart contract activity, making it a trusted chain for achieving financial digitization. Sharplink is one of several digital asset finance companies accumulating Ether, but Chalom believes that most companies struggle to scale. Without strong trading volume, a clean balance sheet, and an internal team managing staking and investments, many companies will underperform. Chalom does not see Sharplink as a departure from his BlackRock career, but rather a continuation of his mission: connecting traditional finance with the cryptocurrency ecosystem, as Ethereum enables faster, lower-cost, and more secure system rebuilding. He sees Ethereum as the foundation for the next wave of financial digitization, which will be collectively referred to as "finance" in the future, with Ethereum as its underlying infrastructure.
According to Onchain Lens monitoring, a whale that previously borrowed to short 66,000 ETH is continuing to increase its ETH holdings. This whale withdrew another 28,262 ETH (worth approximately $98.59 million) from Binance, bringing its total holdings to 355,164 ETH, with a total value of approximately $1.21 billion.
According to Cointelegraph, Malaysia-based VCI Global (NASDAQ: VCIG) announced plans to acquire $100 million worth of OOB tokens and oversee the digital treasury of Singapore-based cryptocurrency payment platform OOBIT. Furthermore, Tether will become VCI Global's largest shareholder through its stake in OOBIT. It is understood that Solana co-founder Anatoly Yakovenko, CMCC Global, and 468 Capital are also investors. VCI Global acquired $50 million worth of OOB tokens from the OOB Foundation at a market capitalization of $200 million (equivalent to $0.20 per token) by issuing company shares as payment. The company plans to purchase an additional $50 million worth of OOB tokens on the open market after its official launch. VCI Global is a technology and investment company developing platforms covering AI, digital finance, and data infrastructure. In February 2024, the company raised $25 million in Series A funding to expand its cryptocurrency payment applications.
According to Onchain Lens, a newly created wallet received 24,007 ETH from Galaxy Digital, worth approximately $82.04 million. This wallet is likely affiliated with Bitmine.
Coinbase will launch spot trading of Allora (ALLO).
According to a Coinbase Markets announcement, Coinbase will launch spot trading of Allora (ALLO) on November 12. If liquidity conditions are met and trading is supported in certain regions, the ALLO-USD trading pair will open on or after 22:00 Beijing time on November 12.
Coinbase and stablecoin startup BVNK cancel $2 billion acquisition deal
According to Fortune magazine, a spokesperson for cryptocurrency exchange Coinbase confirmed that Coinbase and UK-based stablecoin startup BVNK have cancelled acquisition talks. It is unclear why the two companies shelved the deal, which had progressed to the due diligence stage, and in October, Coinbase and BVNK reached an exclusivity agreement, meaning BVNK could not accept offers from other bidders. A Coinbase spokesperson stated, “We are always looking for opportunities to expand our mission and product offerings. After discussing the possibility of acquiring BVNK, both parties agreed not to pursue this further.” BVNK helps customers use stablecoins for payments, cross-border transactions, and other applications, and its acquisition price was approximately $2 billion. If the deal had gone through, it would have been nearly double the $1.1 billion that fintech giant Stripe paid in February to acquire stablecoin startup Bridge.
The Bitwise Chainlink ETF has been listed on the DTCC website with the ticker symbol CLNK.
According to market sources, the Bitwise Chainlink ETF has appeared on the website of the American Depository Trust and Clearing Corporation (DTCC) under the ticker symbol CLNK.
Bank of England Deputy Governor Briden: Weakening stablecoin regulation carries risks.
According to Jinshi, Bank of England Deputy Governor Brident stated that more work needs to be done to guide consumers in identifying insecure tokens issued in El Salvador. Previous withdrawal incidents involving Silicon Valley Bank and Circle have provided guidance for the latest stablecoin proposals. Weakening stablecoin regulation carries risks. The UK needs to adopt a different approach from the US on stablecoins.
According to Bloomberg, U.S. federal prosecutors plan to retry MIT-graduate brothers James and Anton Peraire-Bueno in February 2026. The two are accused of stealing approximately $25 million in cryptocurrency through "sandwich attacks" on Ethereum. The trial was previously declared uncontested after three days of heated deliberations. Prosecutors stated that the case aimed to clarify the legal boundaries of cryptocurrency transactions, but the complex technical details made it difficult for jurors to reach a verdict. The brothers argued that their actions constituted "market speculation" and requested an acquittal.
SoFi launches cryptocurrency trading service for consumers.
According to The Block, SoFi Technologies has launched "SoFi Crypto," claiming to be the first nationally licensed bank to directly integrate with a consumer-facing crypto trading service. This feature will be rolled out in phases, allowing users to directly buy, sell, and hold "dozens" of crypto assets, including BTC, ETH, and SOL, within the SoFi App using funds from FDIC-insured checking/savings accounts (the crypto assets themselves are not FDIC protected). SoFi previously partnered with Coinbase in 2019 to offer crypto trading, but suspended the partnership in 2023; this is its first direct integration since obtaining its banking license. The company is also promoting the application of blockchain in remittances, stablecoins, lending, and payment infrastructure, and claims that 60% of its crypto-holding members prefer to manage their crypto assets with a licensed bank.
Qian Zhimin was sentenced to 11 years and 8 months in prison by a London court.
According to Bloomberg, Chinese woman Zhimin Qian (also known as Yadi Zhang) has been sentenced to 11 years and 8 months in prison by a London court for orchestrating an investment fraud scheme involving approximately 40 billion yuan (US$5.6 billion) and laundering money to purchase 61,000 bitcoins. This case represents the largest seizure of crypto assets in British history, with the bitcoins involved currently valued at approximately US$6.4 billion. Prosecutors stated that Qian fled China and traveled to several countries using a fake passport before being apprehended in the UK. She had purchased luxury homes, jewelry, and other valuables through an assistant and planned to sell bitcoins to fund her self-proclaimed "nation" Liberland. British government agencies are currently investigating how to return the seized assets to the victims.
The U.S. House Rules Committee will meet tomorrow morning to advance the government funding plan.
According to a Politico reporter, sources revealed that the U.S. House Rules Committee will meet today from approximately 6:00 PM to 6:30 PM ET (7:00 AM to 7:30 AM Beijing time tomorrow) to advance the government funding plan in preparation for a vote tomorrow.
Stablecoin giant Tether spends huge sums to poach talent from HSBC and increase its gold reserves.
Tether, the issuer of the world's largest stablecoin, is hiring two of the world's most senior precious metals traders from HSBC Holdings. The stablecoin giant is leveraging its vast financial resources to build massive gold reserves and challenge existing players in the gold and silver markets. According to sources familiar with the matter, Vincent Domien, HSBC's global head of metals trading, will join the cryptocurrency company in the coming months, along with Mathew O'Neill, head of precious metals issuance for Europe, the Middle East, and Africa. In recent years, Tether has aggressively expanded its presence in the precious metals sector, accumulating one of the world's largest gold reserves outside of banks and nations as part of its more than $180 billion in reserve assets. HSBC is a mainstay in the precious metals sector, widely considered the second-largest player after JPMorgan Chase, with operations spanning futures trading, vault custody, and global gold bar transportation.
SharpLink: Ethereum staking generated 492 ETH in rewards last week.
SharpLink (SBET) said its Ethereum staking program generated 492 ETH in rewards last week, bringing the total rewards to 7,067 ETH since the program was launched on June 2, 2025.
YZi Labs invests in regenerative medicine company Renewal Bio
YZi Labs announced an investment in regenerative medicine company Renewal Bio, its first biotechnology investment since expanding its investment scope to 2025. The company uses the Stembroid™ platform to generate DNA-homogeneous cells and tissues from patient iPSCs, and its recent focus is on advancing the preclinical development of hematopoietic stem cells (HSCs) for leukemia and immune diseases, as well as exploring applications in liver, heart, and pancreatic cells. Renewal Bio was co-founded by Professor Jacob Hanna of the Weizmann Institute of Science in Israel and others. The funding will be used for laboratory expansion, collaborations, GMP-level manufacturing, and clinical readiness.
According to Fortune, decentralized exchange protocol Lighter has raised $68 million in funding, led by Peter Thiel's Founders Fund and Ribbit Capital, with participation from Haun Ventures and Robinhood. This round values the company at approximately $1.5 billion. Founded in 2022 by Vladimir Novakovski, Lighter focuses on decentralized perpetual contracts and upcoming spot trading functionality. Built on Ethereum Layer 2, it aims to create a "fair and transparent financial infrastructure layer." Novakovski entered Harvard at 16, graduated at 18, and was personally recruited by Citadel founder Ken Griffin. He later transitioned from the AI social platform Lunchclub to the crypto space.
According to PR Newswire, Hyperscale Data (NYSE: GPUS), a US-listed AI data center company, announced that its Bitcoin vault has reached approximately $75.25 million, representing about two-thirds of the company's market capitalization. Its subsidiary, Sentinum, currently holds 267.69 BTC, of which 44.1 were self-mined and 223.59 were purchased through the open market (including 29.09 added last week). The company has reserved $47.25 million in cash for Bitcoin purchases and plans to enter the market in batches through a dollar-cost averaging strategy to reduce volatility risk and gradually achieve its goal of a $100 million digital asset vault (DAT).
CZ clarifies: "Beyond Borders" is not his work; beware of AI-generated book scams.
CZ posted on social media that the autobiography "Beyond Borders" circulating recently was not written by him, warning the community to be wary of criminals using AI to generate fake books for fraudulent purposes. Previously, the book had been available on some e-book platforms and was alleged to be associated with a token of the same name, Meme.
Lido proposed implementing automatic buybacks using LDO/wstETH liquidity.
According to the Lido governance forum, community member stewhouse proposed deploying an LDO/wstETH position in a Uniswap v2-style LP using NEST, repurchasing and removing circulating LDO, with the LP held by the Aragon Agent. The proposal sets trigger conditions: ETH price above $3,000, annualized revenue exceeding $40 million, allocation of 50% of the excess, a single execution limit of 2% of the total price impact, and a 12-month rollover cap of $10 million. Current estimates suggest an annualized return of approximately $4 million, at least 12 transactions, with a maximum deployment of 100 wstETH per transaction. The process involves loading NEST via EasyTrack, purchasing LDO with Stones v2, minting LPs with wstETH, and returning LP tokens to the Aragon Agent. If approved, the proposal could be implemented around the first quarter of 2026.
On-chain analyst Willy Woo tweeted that the future "quantum computing era" could allow public keys to be used to deduce private keys, leading to asset risks. Currently, Taproot addresses starting with "bc1p" are not quantum secure, while SegWit addresses starting with "bc1q" are still quantum-safe. He advises users to transfer BTC to SegWit or older address formats and avoid spending before upgrading to a quantum-safe protocol to prevent exposing public keys. Woo predicts that the Bitcoin network will complete its quantum-safe upgrade within the next seven years, while quantum threats could emerge as early as 2030.
