Market Performance
| Asset / Index | Value ($) | Daily Change (%) |
|---|---|---|
| Bitcoin (BTC) | 105,010.0 | −0.94% |
| Ethereum (ETH) | 3,549.04 | −0.49% |
| Bitcoin Spot ETF | −12.57M | Net Outflow |
| Ethereum Spot ETF | 0.00 | No Flow |
| Nasdaq (NAS100) | 25,567.6 | −0.18% |
| S&P 500 (SPX) | 6,832.42 | +1.54% |
| Russell 2000 (RUT) | 2,454.2 | −0.22% |
| U.S. Dollar Index (DXY) | 99.696 | +0.07% |
| VIX Volatility Index (VIX) | 17.60 | −7.76% |
| U.S. 10-Year Treasury Yield (US10Y) | 4.120 | +0.66% |
| Brent Crude Oil (BRENT) | 63.575 | −0.25% |
| LBMA Gold (XAU) | 4,128.105 | +0.31% |
| LBMA Silver (XAG) | 50.6268 | +0.24% |
“Prepared at UTC 07.45 am”
Today’s Key Events
US Markets Closed Today – Veterans Day
- SunFlash (SunPump, SunPerp) Roundtable Meeting
- Aptos, Layer, IO, AGI, Token Unlock
- AMD – Financial Analyst Day
US Government Shutdown Expected to End This Week
- The U.S. House of Representatives is expected to vote on a temporary funding bill on Wednesday and then send it to President Trump for his signature. The bill would extend government funding until January 30, 2026. In the second week of December 2025, the Senate will vote on extending subsidies under the Affordable Care Act (ACA). Democrats made more concessions this round.
- Senate Majority Leader John Thune confirmed that they expect the deal to pass the Senate on the morning of November 11 and for the government to reopen over the weekend. House Speaker Mike Johnson said lawmakers would return on Wednesday to vote.
- The bill includes funding through January 30, 2026, full appropriations for the Departments of Agriculture and Veterans Affairs, retroactive pay for federal employees, and the recall of furloughed personnel. Trump also requested the return of air traffic controllers and proposed a $10,000 bonus for employees who worked during the shutdown.
Trump on Tariff Revenues
President Trump reiterated that the surplus from the $2,000 payments to low- and middle-income Americans will be directed toward reducing the national debt. Meanwhile, the Supreme Court is reviewing the legality of Trump’s tariffs under the International Emergency Economic Powers Act (IEEPA).
Divergent Views Within the Fed
US-China Tariff Commitments
China has imposed new restrictions on the export of fentanyl precursors in line with its commitments in negotiations with the US. The Department of Commerce announced new licensing requirements for 13 chemicals exported to three North American countries. FBI Director Patel travelled to China last Friday for a day of talks on drug control and law enforcement cooperation. These steps are seen as part of a process to rebalance security and trade relations between the two countries.
Trump: Negative Ruling Could Leave US Facing $3 Trillion in Tariff Refunds
US President Donald Trump said the Supreme Court was presented with “incorrect data” on tariffs. He said that if the court ruled against him, it would require a tariff refund exceeding $3 trillion, covering both past and future investments as well as capital returns. Trump said that a financial burden of this magnitude would be “irreparable and devastating enough to pose a national security risk,” and could even “make it difficult for the country to survive.”
U.S. Treasury Department Provides Regulatory Framework for Crypto ETP Staking
U.S. Treasury Secretary Scott Bessent announced the release of new regulatory guidance for crypto ETPs with staking features. The new guidance clarifies how staking rewards are taxed, providing an “clear path” for asset management companies. Accordingly, staking rewards generated within the ETP structure will not immediately create a direct tax liability for individual investors, thereby resolving the long-standing uncertainty surrounding crypto staking income.
Institutional Crypto Allocations: Shifting from Speculation to Diversification
Sygnum, a Swiss-based digital asset bank, analyzed institutional investors’ views on crypto in its “Future Finance 2025” report. Over 60% of the more than 1,000 institutions surveyed plan to increase their crypto asset allocations, while only 4% plan to reduce them. Fifty-seven percent of institutions cited portfolio diversification as the “main reason for entering crypto.” Over 80% of participants view Bitcoin as a reserve asset, but it was emphasized that the main obstacles are now regulatory uncertainty and custody security rather than volatility.
Standard Chartered Launches Stablecoin Card DeCard with DCS
Standard Chartered Bank, in collaboration with Singapore-based DCS Card Centre, introduced the DeCard stablecoin credit card. Users will be able to pay for their daily expenses directly with stablecoins using the card, with transactions settled instantly through Standard Chartered’s payment systems. The card will initially be launched in Singapore and expanded to other major markets in the future.
New Details Emerge in London’s $60,000 Bitcoin Money Laundering Case
In the case heard at the Southwark Crown Court in the UK, it was revealed that the defendant, Qian Zhimin, purchased 195,000 BTC in China, carried more than 70,000 Bitcoin with him while fleeing, and was supported by numerous individuals during his transition to the UK. The hearing also revealed that Qian hired four bodyguards and servants during his second escape attempt.
Brazil Tightens Regulations on Crypto Service Providers
The Central Bank of Brazil has introduced new regulations that divide crypto service providers into three categories: intermediaries, custodians, and brokers. All service providers are now required to obtain a license and establish anti-money laundering, internal governance, and customer protection systems. Institutions that meet the requirements will be able to obtain an operating license.
CleanSpark Plans $1 Billion Convertible Bond Offering
CleanSpark (Nasdaq: CLSK) plans to issue $1 billion in zero-coupon convertible bonds to expand its mining operations. The bonds mature on February 15, 2032, and investors will have the option to purchase an additional $200 million.
Ethereum Foundation dAI Team Releases 2026 Roadmap
Ethereum Foundation AI Lead Davide Crapis shared the dAI team’s 2026 roadmap, developed around the ERC-8004 and x402 standards. The new plan aims for greater integration between AI and on-chain payments.
Bio Protocol Launches USDC Micro Payments with x402
Bio Protocol announced that USDC micro payments can now be made on the Base network using Coinbase Developer Platform’s x402+ embedded wallets. This development will facilitate the transition of AI tools to a pay-per-query model and create a new microeconomic infrastructure that could replace subscription-based systems.
SUI Group to Lend 2 Million SUI to Bluefin
SUI Group (Nasdaq: SUIG) will lend 2 million SUI tokens to Bluefin DEX as part of their agreement. Under the agreement, Bluefin will return 5% of its revenue in SUI. This collaboration aims to increase capital efficiency in the Sui ecosystem.
Gamma Raises $68 Million at a $2.1 Billion Valuation Led by a16z
Gamma, a developer of AI presentation tools, has completed a $68 million Series B round led by Andreessen Horowitz (a16z). The company is now valued at $2.1 billion.
Gamma has reached 70 million users with its AI infrastructure that automatically converts text into presentations and has approached $100 million in annual revenue.
Circle Introduces AI Chatbot and MCP Server
Circle has launched an AI chatbot and MCP server that allows developers to integrate $USDC, CCTP, wallets, and smart contracts directly within a browser or IDE (e.g., @cursor_ai). The system is based on Circle API and SDK metadata and enables developers to generate integrated code in minutes.
Uniswap Foundation and Labs Propose Fee Key and UNI Burn Mechanism
Uniswap Foundation Executive Director Devin Walsh and founder Hayden Adams have submitted a new governance proposal. The proposal aims to link protocol revenue to UNI burning and enable Uniswap Labs to focus on growth and establish a long-term operating model.
