1. Popular cryptocurrencies on CEXs

Top 10 CEX trading volumes and their 24-hour price changes:

• BTC: -2.34%
• ETH: -4.05%
• BNB: -4.83%
• SOL: -4.92%
• ASTER: +10.19%
• DOGE: -6.70%
• DASH: +15.71%
• ZEC: -6.08%
• AAVE: -3.71%
• PEPE: -7.88%

24-hour gainers list (data source: OKX):

• DGB: +13.51%
• YB: +6.64%
• SCR: +2.82%
• T: +1.58%
• BAT: +1.16%
• RIO: +0.62%
• MERL: +0.36%
• FXS: +0.23%
• ARG: +0.22%
• LEO: +0.20%

24-hour cryptocurrency stock gainers list (data source: msx.com ):

• VivoPower International PLC (VVPR.M): 10.85%
• Verb Technology Company, Inc. Common Stock (VERB.M): 4.18%
• DeFi Technologies, Inc. (DEFT.M): 3.14%
• Abits Group Inc Ordinary Shares (ABTS.M): 2.45%
• Hims & Hers Health, Inc. (HIMS.M): 0.13%
• Cipher Mining Inc. Common Stock (CIFR.M): 1.82%
• Mega Matrix Inc. (MPU.M): 1.79%
• 180 Life Sciences Corp. (ETHZ.M): 1.73%
• Fundamental Global Inc. (FGNX.M): 1.61%
• Mercury Fintech Holding Inc. Ordinary Shares (MFH.M): 1.34%

2. Top 5 most popular on-chain memes (data source: GMGN ):

• HERMETO
• CR7
• Santa Hat
• chicken
• moon

Headlines

US Treasury Secretary Bessant: If inflation falls, the Federal Reserve should cut interest rates.

U.S. Treasury Secretary Bessant stated that the Federal Reserve should cut interest rates if inflation declines. Speaking about the economic recession, he said, "We are in a transitional period, and if the Fed lowers mortgage rates, it could end the housing recession."

CZ disclosed that it used its own funds to buy ASTER today, and its current holdings exceed 2.09 million tokens.

CZ posted on the X platform that he had bought some ASTER shares with his own money today. He also stated that he is not a trader and will hold the shares after purchasing them.

According to screenshots disclosed by CZ, he currently holds approximately 2,090,598 ASTER tokens. He previously publicly purchased mubarak and TST tokens.

Lechang Court concludes case involving cryptocurrency "foreign scam": Do not believe the fallacy that deceiving foreigners is not illegal.

The People's Court of Lechang City, Shaoguan, Guangdong Province, concluded a case of fraud involving foreigners. After gaining the victims' trust, the criminals guided them to invest in virtual currency on a fake platform, thereby defrauding them of their money. The Lechang Court sentenced the criminals to prison terms ranging from six to eight months and imposed fines. The judge emphasized that the claim of "only defrauding foreigners" is not a legal excuse; overseas is not a lawless zone, and one should not believe the fallacy that "defrauding foreigners is not illegal."

Iran has become the world's fourth-largest cryptocurrency mining hub, but illicit mining activities are quite active.

Akbar Hasan Beklou, CEO of the Tehran Provincial Electricity Distribution Company, stated that thanks to substantial electricity subsidies, Iran has become the world's fourth-largest cryptocurrency mining hub, but has also become a "haven for illegal miners." Reportedly, Iran's cryptocurrency mining industry is facing a widespread crisis of illegal mining; over 95% of the country's 427,000 active mining rigs are operating without authorization, consuming over 1,400 megawatts of electricity, placing enormous pressure on the power grid and threatening the stability of the power supply.

Industry News

The founder of Thodex died in prison after being sentenced to 11,196 years in prison.

Faruk Fatih Ozer, founder of the now-defunct cryptocurrency exchange Thodex, was found dead in a solitary confinement cell in a Turkish prison. Turkish Justice Minister Yılmaz Tunç stated that preliminary investigations suggest suicide, but the investigation is ongoing. In September 2023, Ozer and his siblings were sentenced to 11,196 years in prison on charges including aggravated fraud, money laundering, and leading a criminal organization. Thodex collapsed in April 2021, leaving over 400,000 users unable to withdraw their funds. Chainalysis estimated the total losses at approximately $2.6 billion in 2021.

The CEO of ether.fi clarified that they did not access any bank card data or users' private information.

In response to community users' claims that "100% of ether.fi card information is currently transparent to intermediaries," ether.fi CEO Mike Silagadze clarified on the X platform that this statement is incorrect. He stated that ether.fi has not accessed any bank card data or users' private information. Mike Silagadze had previously promised to investigate the ether.fi card fraud incidents and to refund all users who experienced fraudulent transactions.

Project News

MetaMask launched a rewards program, emphasizing its connection to, but distinct from, the future TGE.

MetaMask announced on its X platform that its MetaMask Rewards Program is now live, designed to provide tangible rewards based on user behavior, similar to existing off-chain rewards programs. MetaMask added, "The rewards program and the future TGE will be interconnected, but they are two separate things, both of which will give back to users and the ecosystem in a meaningful way."

Zcash (ZEC) developers release Q4 2025 roadmap; token price surges 800% in nearly a month.

Electric Coin Co. (ECC), the creator of Zcash (ZEC), released its Q4 2025 roadmap, focusing on reducing technical debt, improving privacy and usability for Zashi wallet users, and ensuring the smooth management of the development fund. Key initiatives include adding temporary transparent addresses to all ZEC swaps using the NEAR Intents protocol, generating a new transparent address after funds are received, and supporting Pay-to-Script-Hash (P2SH) multi-signature for the Keystone hardware wallet. This roadmap release comes amid a significant increase in the size of Zcash's Shielded Supply and the token price in recent months, with the total supply of Shielded Supply recently surpassing 4.1 million tokens.

KITE airdrop tracking is now live.

KITE announced on the X platform that the token airdrop query is now online, and the airdrop will be available for collection at 12:00 PM (UTC) on November 3.

Investment and Financing

Lion Capital issued convertible bonds to raise approximately HK$273 million to support the development of the RWA tokenization framework.

On November 2, according to an announcement from the Hong Kong Stock Exchange, Lion Capital Holdings, a Hong Kong-listed company, announced that it will issue mortgage-backed convertible bonds maturing in 2026 to raise approximately HK$273 million (US$35 million). It has signed an agreement with asset management company LMR Partners to subscribe for the relevant bonds. The final net proceeds will be approximately US$33,565,000 (approximately HK$260,800,000), which will be used to support the development of its digital finance and real-world asset (RWA) tokenization framework.

Deloitte launches "Hong Kong LEAP" strategy, investing HK$500 million to accelerate fintech innovation.

According to official sources, Deloitte China has officially launched its "Hong Kong LEAP" strategy and simultaneously released the "Hong Kong Economic Outlook White Paper 2025," announcing an investment of HK$500 million over the next four years to fully support the diversified development of Hong Kong's economy, with a focus on cutting-edge fields such as fintech, capital markets, and artificial intelligence. The white paper points out that Hong Kong's digital finance is developing strongly, with the total transaction volume of digital assets and tokenized assets processed by Hong Kong banks reaching HK$26.1 billion in the first half of 2025. Policies such as the Ensemble project, the "Hong Kong Digital Asset Development Policy Declaration 2.0," and the "Stablecoin Ordinance" have been implemented, promoting the construction of a complete ecosystem for digital financial innovation.

Regulatory Trends

Financial Times: EU to Expand Regulation of Stock and Cryptocurrency Exchanges

The European Commission is developing plans to expand central oversight of key financial market infrastructure, targeting stock exchanges and crypto asset servicers. Under the plan, the European Securities and Markets Authority (Esma) will have its powers expanded to cover “the most important cross-border entities.” This move is part of the EU’s “Capital Markets Union” initiative, aimed at eliminating regulatory fragmentation and enhancing EU competitiveness. The proposals are expected to be presented in December as part of a “market integration scheme.”

Tether faces a lawsuit alleging the freezing of $44.7 million in stablecoins, with the plaintiff claiming that the illegal freezing of its tokens caused it to miss significant investment opportunities.

In April of this year, stablecoin issuer Tether froze $44.7 million worth of USDT at the request of Bulgarian police. Now, Texas-based Riverstone Consulting has filed a lawsuit accusing Tether of illegally freezing its tokens and causing it to miss out on significant investment opportunities.

According to a complaint filed in the Southern District of New York, Tether froze assets in eight offline wallets controlled by Riverstone on April 4. The company argues that Tether's freezing of assets solely at the request of the Bulgarian local police was "procedurally flawed" and failed to follow the formal procedure stipulated in the Bulgarian Treaty on International Judicial Assistance, which requires the exchange of information through central authorities and foreign liaison channels. The complaint states that when Riverstone contacted Tether, it was told to communicate directly with the Bulgarian police, who subsequently failed to respond.

Currently, Tether's stablecoin circulation exceeds $180 billion, and as of September 15, it has cooperated with global law enforcement agencies to freeze $3.2 billion in USDT.

Character voices

CZ: Happy to fund a good AI judge assistant project

Binance founder CZ posted a Sunday developer idea on the X platform: an AI judge assistant. This AI would be trained using written laws and past cases, then used to propose judgments for each public case. While human decisions can be influenced by emotions, hunger, personal opinions, or political biases, AI should theoretically be more objective. This could become a valuable tool for judges, lawyers, and other case stakeholders. CZ stated that developing it wouldn't be difficult and he would be happy to fund a good project.

Coinbase CEO: x402 will become an important part of the new internet

Coinbase CEO Brian Armstrong stated on the X platform that x402 allows stablecoin payments to be attached to any web request, which will become an important part of the new internet. According to Coingecko data, the total market capitalization of the x402 ecosystem tokens has surpassed $1 billion, currently reaching $1,191,167,148.

Tom Lee, a fund analyst, believes cryptocurrencies have not yet peaked.

Mark Newton CMT, Head of Technical Strategy at Fundstrat, posted on the X platform that he disagrees with the view that cryptocurrencies have peaked, and listed five reasons:

1. The Elliott Wave structure does not show any signs of topping out;

2. Monthly DeMark signals are not yet available;

3. A negative MACD indicator due to sideways consolidation is not decisive;

4. The medium-term upward trend since 2022 has not been broken;

5. Market sentiment is far from reaching levels that typically signal a significant market peak.

He added that he is watching for signals confirming that ETH and BTC prices have bottomed out.

Deribit's Head of Business Development for Asia Pacific: Current market liquidity is 15%-20% lower than before the "October 11th crash".

Lin, Head of Business Development for Asia Pacific at Deribit, wrote on the X platform that market liquidity is currently 15%-20% lower than before the "10.11 crash." With the US stock market experiencing a volatile earnings season, most funds have been drawn away. The US stock market is still hitting new highs. As long as the US stock market stabilizes and liquidity recovers, there will still be a rally at the end of the year, but it will be difficult to push prices up in the near term, and volatility remains high.