Last night's and this morning's important news (October 30 - October 31)

The Jupiter community is currently voting on whether to burn the previously repurchased 130 million JUP tokens

Jupiter posted on X that after the team downsized the DAO and reset the community, the “Litterbox burn vote” is the next major step for a fresh start, refocusing on JUP as the core of the ecosystem to rebuild long-term confidence and consensus. Currently, 50% of Jupiter’s on-chain income goes into the “Litterbox Trust Fund,” which repurchases JUP from the open marketplace and has accumulated about 130 million tokens, accounting for roughly 4% of circulating supply. These tokens were originally planned for DAO use after three years, but recently, holders have expressed concerns about uncertainty for the community and token holders. After listening to feedback, the DAO began voting today on whether to burn the existing tokens (voting ends in 4 days and 13h). In the coming weeks, there will be separate votes on how to handle ongoing income flowing into the “Litterbox.”

Ministry of Commerce and Four Other Departments: Strengthen integration of blockchain and other technologies in urban commercial systems

The Ministry of Commerce and four other departments issued the “Urban Commercial Quality Improvement Action Plan,” which calls for empowering emerging technologies and strengthening the integrated application of artificial intelligence, blockchain, and other technologies in urban commercial systems.

Publicly Listed SEGG Media to Launch $300 Million Digital Asset Plan, Initial Focus on Bitcoin

According to Cryptobriefing, Nasdaq-listed SEGG Media plans to launch a $300 million digital asset plan, allocating 80% of funds to multi-asset crypto reserves. Bitcoin will be the initial focus of the reserve, providing a stable foundation, while ETH, SOL, ZIG, and other assets will also be included to boost returns through validator operations.

US Hedera Spot ETF Sees Record $29.9 Million Daily Net Inflow; Litecoin Spot ETF Has No Net Inflow or Outflow

According to SoSoValue data, on October 30 (EST), Canary HBAR Spot ETF HBR saw a net inflow of $29.9 million, a record high since listing. As of press time, Canary HBAR ETF’s total net asset value is $33.05 million, with an HBAR net asset ratio (market cap vs. total HBAR market cap) of 0.41%. Canary Litecoin Spot ETF LTCC had no net inflow or outflow. As of press time, Canary Litecoin ETF’s total net asset value is $1.34 million, with an LTC net asset ratio of 0.02%.

US Solana Spot ETF Sees $37.33 Million Total Net Inflow Today, Third Consecutive Day of Net Inflows

According to SoSoValue data, on October 30 (EST), US Solana Spot ETF saw a total net inflow of $37.33 million. Bitwise Solana Spot ETF BSOL had a daily net inflow of $36.55 million, with historical total net inflow reaching $153 million. Grayscale Solana Spot ETF GSOL had a daily net inflow of $780,000, with historical total net inflow at $2.18 million. As of press time, Solana Spot ETF’s total net asset value is $440 million, Solana net asset ratio (market cap vs. total Solana market cap) is 0.44%, and cumulative historical net inflow is $155 million.

Coinbase Increased Holdings by 2,772 BTC and 11,933 ETH in Q3

Base co-founder Jesse Pollak posted on X that, in addition to 2,772 BTC, Coinbase increased its holdings by 11,933 ETH in Q3 and will continue to add more. Previously, Coinbase released its Q3 financial report, showing net income of $433 million, total revenue of $1.9 billion, and an increase of $299 million in Bitcoin holdings.

Unknown “chase the price” hacker dumped 2,655 ETH, losing $758,000 on this portion

According to on-chain analyst @ai_9684xtpa, an unknown “chase the price” hacker dumped 2,655 ETH (about $9.93 million) at an average price of $3,740.78 over the past 10h. This ETH was built as a position between 10.21-10.23 at an average price of $4,026.58, resulting in a $758,000 loss on the dumped portion. The hacker still holds 3,965.36 ETH, with a floating loss of $692,000.

US Senate Passes Resolution to End Trump’s Comprehensive Tariff Policy

According to CCTV News, the US Senate passed a resolution by a vote of 51-47 to end President Trump’s comprehensive global tariff policy. The Senate announced approval to terminate the national emergency declaration used to implement global tariffs. Earlier this week, the Senate passed two resolutions to remove tariffs on Canada and Brazil. These resolutions must still be voted on by the House, but House Republicans have repeatedly blocked tariff repeal legislation, making passage unlikely. Even if the House passes it, Congress would need a two-thirds majority to override a presidential veto.

JPMorgan: USDC Surpasses USDT in On-chain Activity and Market Capitalization Growth

According to The Block, JPMorgan analysts say that clearer regulatory frameworks and increased institutional adoption have helped Circle’s Stablecoin USDC surpass Tether’s USDT in on-chain activity and market capitalization growth. USDC’s market cap rose from about $43 billion in January to $74 billion now, a 72% rise, far outpacing USDT’s 32% growth in the same period. This reflects the market’s shift toward Stablecoins emphasizing transparency. USDC’s transparent reserve management and regular audits have earned institutional trust, and compliance with the Markets in Crypto-Assets Regulation (MiCA) has made it the preferred Stablecoin for financial institutions. The MiCA regulation, effective July 2024, accelerated the divergence in Stablecoin circulation speed, with USDC’s circulation and on-chain activity rising, also aided by the “Genius Act.” USDT, lacking MiCA approval, was delisted, while USDC’s integration with payment networks and presence on Solana and cross-chain protocols have driven its growth. The emerging competition is likely a “Zero-sum Game” unless the overall crypto marketplace expands significantly; otherwise, US Stablecoin issuers are mainly competing for market share.

Layer2 Network Unichain Adds Support for DOGE, XRP, and Zcash Non-EVM Assets

According to The Block, Unichain, an Ether Layer2 network launched by Uniswap Labs, will begin supporting more non-EVM assets, including Dogecoin, XRP, and Zcash. Uniswap is adding support for these three tokens via the Universal protocol, which mints and burns tokens to create cross-chain transferable “uAssets,” supporting 1:1 swaps with their native versions. Uniswap Labs cautions users not to send these assets to CEXs or wallets that don’t support Unichain; these assets can be accessed on the Uniswap front-end website or transferred cross-chain from their native chains.

Whale’s $143 Million BTC Long Position Fully Liquidated Last Night, $6.3 Million Loss

According to on-chain analyst Yu Jin, a whale who went long $107 million BTC with 40x leverage was fully liquidated last night as prices fell. The final $143 million long position was completely liquidated, resulting in a $6.3 million loss. However, the whale just used the remaining $470,000 from last night’s liquidation to open another 40x BTC long position. The $470,000 leveraged up to a $19 million position, with the liquidation price only $1,200 away from the current price.

Strategy Reports $2.8 Billion Q3 Net Profit, Plans to Raise Preferred Stock Yield to Boost Demand

According to Bloomberg, Strategy reported $2.8 billion net profit in Q3, with unrealized gains from its roughly $69 billion crypto reserves. The company announced it will raise the yield on its variable-rate Series A perpetual preferred stock by 25 basis points to 10.5% in November. Co-founder Michael Saylor said, “We believe we are at a turning point. As Bitcoin matures as an asset class and volatility drops, our net asset value multiple has been declining.” Since its all-time high last November, Strategy’s stock has dropped about 45%, erasing most of its long-term premium over its Bitcoin holdings. Meanwhile, demand for preferred stock remains weak, with recent sales far below Saylor’s large-scale financing goals, slowing Bitcoin purchases. CEO Phong Le said on a call that the company is seeking international financing and considering launching a preferred stock-backed ETF. Strategy’s annual interest and dividend expenses are about $689 million. In its latest report, the company said it did not issue A-class common stock under its ATM program this month and reiterated its prudent approach to raising funds via common stock. Its traditional enterprise software business revenue grew 11% to $128.7 million.

Bitmine Suspected of Receiving 44,036 ETH Worth $166 Million from CEX via Two New Wallets

According to Onchain Lens, two newly created wallets received 44,036 ETH worth $166.76 million from Kraken and BitGo, likely belonging to Bitmine.

Coinbase Q3 Financial Report: $433 Million Net Income, $1.9 Billion Total Revenue, $299 Million Bitcoin Added

According to Forbes, crypto exchange Coinbase reported $433 million net income in Q3. Total revenue rose 25% quarter-over-quarter to $1.9 billion. During the quarter, Coinbase increased its Bitcoin holdings by $299 million through weekly purchases, now holding 14,548 BTC. As of September 30, its fair market value of crypto assets for investment was $2.6 billion (including $1.6 billion in Bitcoin), with another $1 billion in crypto assets as collateral. Including crypto assets, Coinbase’s total available resources reached $15.5 billion. Q3 trading income was $1 billion, up 37% from the previous quarter but still well below early-year levels. In Q4 2024, Coinbase trading income reached $1.6 billion, and Q1 2025 was $1.3 billion. This trend shows that despite rising Bitcoin prices and increased marketplace activity, trading volume has not reached the level needed for significant revenue growth. Retail investor trading volume was $59 billion, up 37% quarter-over-quarter, outperforming the US spot marketplace. Retail trading income rose to $844 million, up 30%. Institutional trading volume was $236 billion, up 22%, with trading income at $135 million, up 122%. Coinbase’s acquisition of Deribit contributed $52 million in income 47 days after the deal. Subscription and service income reached $747 million in the quarter, up 14%. Stablecoin income rose to $355 million, up 7%. The average USDC balance held in Coinbase products grew 9% to $15 billion, while off-platform USDC balance grew 12% to $53 billion. Additionally, according to Bloomberg, Coinbase CEO Brian Armstrong said on a call that Coinbase plans to hold a product showcase on December 17, revealing more details on tokenized stocks and prediction marketplaces, and will continue to pursue acquisitions, especially in trading and payments.

Ether Developers Officially Set Fusaka Upgrade Target Date for December 3

According to The Block, Ether Foundation researchers have finalized the mainnet hard fork date for the next major upgrade, Fusaka, two days after launching the final testnet deployment. On Thursday’s all-core developer call, Ether Foundation researchers said Fusaka will go live on December 3. The backward-compatible Fusaka hard fork will implement about a dozen Ether Improvement Proposals to enhance the base chain and surrounding Layer2 ecosystem’s sustainability, security, and scalability. Notably, Fusaka will introduce PeerDAS technology for more efficient data access for validators. PeerDAS was originally planned for Ether’s previous major upgrade, Pectra, in February, but was delayed due to testing needs. Fusaka will also raise Ether’s block gas limit from 30 million to 150 million units and is expected to quickly double blob capacity.

Jump Crypto Transferred $205 Million SOL to Galaxy Digital Overnight, Received 2,455 BTC

According to Lookonchain, Jump Crypto transferred 1.1 million unlocked SOL (worth $205 million) to Galaxy Digital overnight and received 2,455 BTC (worth $265 million) in exchange.

Canary XRP Spot ETF Latest Filing Removes “Latency Amendment,” May List on November 13

According to crypto journalist Eleanor Terrett, Canary Capital has submitted an updated S-1 for its XRP Spot ETF, removing the “latency amendment” that blocked automatic registration effectiveness and giving timing control to the SEC. If Nasdaq approves the 8-A filing, Canary’s XRP ETF will officially launch on November 13. Note: Government reopening may affect timing; if filings are complete and the SEC is satisfied, the date may be earlier; if more comments are raised, it may be delayed. Notably, the SEC Chair also seems to support companies using the auto-effectiveness mechanism. While not directly commenting on ETF launches, Paul S. Atkins said yesterday he was pleased to see companies like MapLight use the 20-day statutory waiting period to list during the government shutdown and praised Bitwise and Canary for using the same legal mechanism for SOL, HBAR, and LTC ETF launches this week.

dYdX Plans to Enter US Marketplace by Year-End, Significantly Lowering Trading Fees

According to Reuters, dYdX President Eddie Zhang said in an interview that dYdX is preparing to enter the US marketplace by year-end, opening the decentralized exchange (DEX) to previously excluded US users. Zhang said, “The platform plans to expand trading products and will launch Solana and other related crypto spot trading in the US by year-end. After entering the US, dYdX plans to cut trading fees by up to half, dropping to 50-65 basis points. Perpetual Futures will not launch in the US, but dYdX hopes US regulators will eventually provide guidance for decentralized platforms to offer these products.”

UFC Partner Project FIGHT Token Public Sale Raises $183 Million, Over 100x Target

According to CoinDesk, the FIGHT token public sale launched by UFC official partner Fight.ID raised $183 million, far exceeding the initial $1.5 million target, making it the second project this week to surpass fundraising expectations. On October 27, the first round raised $15.7 million against a $750,000 target. The FIGHT project, operated by UFC-licensed Concept Labs and built on Solana blockchain, aims to bring combat sports fan culture and athlete interaction on-chain. The token will be used for governance, staking, payments, and UFC event prediction marketplaces. Officially disclosed, FIGHT has a total supply of 10 billion tokens, with 57% for community incentives, 17.5% for investors, and 15% for the core team. As of now, Solscan shows 3,776 deposits participated in this round.

Nordic Bank Nordea Allows Customers to Trade Bitcoin-linked Synthetic ETPs on Its Platform

According to Bloomberg, Nordea Bank Abp, one of the largest Nordic banks, announced it is dropping its previous reservations about crypto and will allow customers to trade Bitcoin-linked synthetic exchange-traded products (ETPs) on its platform for the first time. Nordea stated that it had maintained a “cautious attitude” due to lack of regulation and investor protection in the crypto marketplace, but now “the marketplace has matured,” so it decided to open trading for these products. However, the bank emphasized it only provides trading channels and will not offer investment advice for these products.

Bitcoin ETF Sees Daily Net Outflow of 3,693 BTC, Ether ETF Sees Net Inflow of 5,135 ETH

According to Lookonchain, 10 Bitcoin ETFs saw a combined net outflow of 3,693 BTC ($399 million) today, with Fidelity alone seeing a daily outflow of 1,482 BTC ($160 million), now holding 205,365 BTC ($22.2 billion). Meanwhile, 9 Ether ETFs saw a combined net inflow of 5,135 ETH ($19.51 million), with Grayscale Ethereum Mini Trust receiving 18,101 ETH ($68.78 million), now holding 743,453 ETH ($2.83 billion).

Core Scientific Terminates Merger Agreement with CoreWeave, Will Continue as Independent Public Company

According to Business Wire, Nasdaq-listed Core Scientific (NASDAQ: CORZ) announced it has formally terminated its merger agreement with CoreWeave Inc. after failing to secure enough votes at the special shareholder meeting, effective immediately. Core Scientific will continue to operate as an independent public company, with its common stock trading on Nasdaq under the symbol CORZ. Core Scientific is a leading North American high-density hash rate hosting and digital asset mining infrastructure provider, and is accelerating its transition from crypto mining to supporting artificial intelligence (AI) and high-performance computing (HPC) workloads to expand high-density hosting (HDC) revenue. After the announcement, Core Scientific’s stock rose about 2.7% intraday, with the marketplace expecting the company to independently advance its AI hash rate infrastructure strategy.

AI Model Accounts in Trading Competition See Significant Pullback, DeepSeek Down 32% in One Day, GPT5 Loses Over 70%

According to nof1.ai data, as the marketplace fell, several large AI model accounts participating in the AlphaZero AI trading competition saw significant pullbacks. The best-performing DeepSeek account’s equity dropped from $21,760 to $14,721 in one day, a 32.3% fall; Qwen3 fell from $17,419 to $12,227, a 29.8% daily pullback; GPT5 performed worst, with only $2,748 left and a cumulative loss rate of 72.6%. PANews analysts said the pullback was mainly due to these AI trading models holding high-leverage long orders and loose stop-loss strategies, triggering concentrated losses during the sharp marketplace fall.

MegaETH Public Sale Officially Ends: Over 50,000 Participants, $1.39 Billion Subscribed, 27.8x Oversubscribed

According to the official announcement, Layer-1 project MegaETH’s public sale has officially ended, attracting over 50,000 participants and a total subscription amount of $1.39 billion, with an overall subscription ratio of 27.8x. The next phase will be allocation and refund: users who bid below $0.0999 will be automatically refunded; those who bid exactly $0.0999 will enter the allocation review phase, which will last until November 5, when final allocation results will be announced and refunds processed for unsuccessful bidders.

Metalpha Receives $12 Million Strategic Investment from Gortune and Avenir Group

According to PR Newswire, Nasdaq-listed Metalpha Technology Holding Ltd. (MATH) announced it has signed subscription agreements with two strategic institutional investors—Gortune International Investment Limited Partnership and Avenir Group—to raise about $12 million via a private placement, with the transaction expected to close around November 30, 2025. Metalpha said the funds will be used to accelerate business expansion in blockchain trading technology and digital asset infrastructure, innovative investments, and working capital.

Meta Pre-market Fall Expands to Nearly 10%, Q3 Net Profit Far Below Expectations

Meta Platforms(META.O) pre-market fall expanded to nearly 10%, with third-quarter net profit at $2.7 billion, far below analyst expectations. The company plans to raise at least $25 billion via bond issuance.

JPMorgan Completes Private Equity Fund Tokenization On-chain, Will Launch Investment Fund Tokenization Platform in 2026

According to The Wall Street Journal, JPMorgan has completed a private equity fund tokenization pilot on its own blockchain network, aiming to represent and settle fund shares on-chain to enhance liquidity and transparency. JPMorgan plans to officially launch an “alternative investment fund tokenization platform” in 2026, offering institutional clients on-chain issuance and trading services for private equity, credit, and other non-public marketplace assets.

US Treasury Secretary Besant: Next FED Chair Candidate May Be Determined Before Christmas

US Treasury Secretary Besant: The second round of interviews for FED Chair is about to begin. The next FED Chair candidate may be determined before Christmas. Besant praised the FED’s 25 basis point rate cut but was dissatisfied with the wording. Besant said, “The current FED is stuck in the past. Their inflation forecasts this year have been terrible, and their models have failed.” The FED’s skeptical comments about another rate cut this year show the institution urgently needs major reform.

Australian Police Crack Crypto Wallet, Recover Over $6 Million in Assets

According to Decrypt, Australian Federal Police (AFP) Commissioner Krissy Barrett revealed at the National Press Club that a data analyst from the AFP Criminal Assets Confiscation Taskforce (CACT) successfully cracked a suspect’s crypto wallet, recovering about $6 million (A$9 million) in crypto assets. Police said the analyst manually identified forged digital patterns, discovering the suspect had added numbers to the mnemonic phrase to confuse investigators. After manually removing the first digit, the analyst recovered the 24-word seed phrase and unlocked the wallet. The analyst then used another method to crack a second wallet, recovering about $1.9 million (A$3 million). The case is part of “Operation Kraken,” targeting global organized crime networks using crypto technology. If the court rules for forfeiture, the funds will go to federal accounts for Australian crime prevention projects.

Binance Announces MMT Prime Sale Details: Binance Wallet Limit 7 BNB, TGE Day Airdrop to Alpha Account

According to Binance, Momentum (MMT) Prime Sale will launch on October 31: single user subscription limit is 7 BNB, after Pre-TGE ends, users can claim MMT Key on BSC as subscription proof, actual MMT (SUI) will be airdropped to Binance Alpha accounts on TGE day and trading will open. Participation requires Binance Alpha Points qualification, price is $0.10 worth of BNB per token, total fundraising $1.5 million, total allocation 15 million MMT.

ETH Treasury Company Supported by Li Lin Family’s Avenir and Others Launches PIPE Fundraising on CoinList Alpha, Targeting $1 Billion

CoinList Alpha shows that ETH Treasury Company, initiated by Li Lin family’s Avenir Group, Distributed Capital, Wanxiang Capital, and Meitu, is conducting a PIPE private equity fundraising round, targeting $1 billion. The round will issue 1:1 bundled warrants, with an exercise price about 50% above the issue price, PIPE pricing at about 0.88x net asset value (mNAV). Initial subscription commitments for CoinList Alpha investors close on October 29, with final payment due by October 31, 2025. Funds are accepted in USD and USDC, with ETH also available if needed.

Indonesian Central Bank Governor Confirms Launch of Government Bond-backed National Stablecoin

According to Solid Intel, Bank Indonesia Governor Perry Warjiyo confirmed the launch of a national Stablecoin backed by government bonds.

Tianjin Police Release Qian Zhimin Case Update: Cross-border Asset Recovery Cooperation with UK, No Third-party Commissioned

Tianjin Public Security Bureau Hedong Branch released an update stating that Qian Zhimin, the main suspect in the illegal public deposit case of Lantian Gerui Electronic Technology Co., Ltd., appeared in court at Southwark Crown Court in London, UK, on September 29, 2025, pleaded guilty to money laundering. Police said they are working with UK law enforcement on cross-border pursuit and asset recovery to recover losses for investors. Public records show Qian Zhimin is the founder and actual controller of Lantian Gerui, who raised public funds under “blockchain hash rate investment” and “Bitcoin mining financial management,” involving huge amounts, including about 60,000 BTC. After the case broke in 2017, Qian fled abroad and hid in the UK for years. Police emphasized that no third-party institution has been commissioned for cross-border asset recovery and reminded investors to beware of false information and avoid scams.