Market Performance
| Asset / Index | Value ($) | Daily Change (%) |
|---|---|---|
| Bitcoin (BTC) | 103,610.0 | +0.41% |
| Ethereum (ETH) | 3,447.56 | +0.91% |
| Bitcoin Spot ETF | +524.0M | Net Inflow |
| Ethereum Spot ETF | −107.1M | Net Outflow |
| Nasdaq (NAS100) | 25,699.7 | +0.57% |
| S&P 500 (SPX) | 6,846.62 | +0.21% |
| Russell 2000 (RUT) | 2,462.0 | +0.20% |
| U.S. Dollar Index (DXY) | 99.177 | +0.08% |
| VIX Volatility Index (VIX) | 17.28 | −1.82% |
| U.S. 10-Year Treasury Yield (US10Y) | 4.116 | +0.08% |
| Brent Crude Oil (BRENT) | 65.252 | −0.34% |
| LBMA Gold (XAU) | 4,115.32 | −0.27% |
| LBMA Silver (XAG) | 51.393 | +0.55% |
“Prepared at UTC 07.45”
Today’s Key Events
- US House of Representatives Temporary Funding Bill Vote
- Trump’s Dinner with Finance Executives
- US SEC Chairman Atkins to Speak
- Fed Members Barr, Williams, Waller, Bostic, Paulson to Speak
- US SEC Commissioner Uyeda to Speak
- US CFTC Commissioner Pham to Speak
- Treasury Secretary Bessent to Speak
- US 10-Year Treasury Bond Auction
- Grayscale Spot HBAR ETF Decision Expected
US Government Shutdown Nearing End
- The record-breaking 42-day US government shutdown is expected to end as early as Wednesday. The Senate approved the temporary funding bill by a vote of 60 to 40, and the bill now goes to the Republican-controlled House of Representatives.
- The House is scheduled to vote today at 4:00 p.m. local time. White House National Economic Council Director Kevin Hassett said that some October data would be lost due to the shutdown, complicating economic analysis. Hassett also said GDP growth could reach the 3–4% range in the first quarter of 2026.
Trump Responds Strongly to Supreme Court Ruling
President Donald Trump said that a potentially unfavorable Supreme Court ruling on tariffs could result in repayments exceeding $3 trillion. He emphasized that such a ruling would be “devastating for America’s future and irreparable in terms of national security.” Trump stated that “incorrect information was presented” to the court and that the consequences could fundamentally shake the American economy.
Hassett: US Economic Growth Could Return to 3–4% Range in Early 2026
White House economic adviser Kevin Hassett noted that some economic data has yet to recover, but that the inflation trend is quite positive. Hassett predicts that economic growth will reach the 3–4% range in early 2026. He also stated that the pace of recovery will accelerate after the government shutdown and that productivity is expected to increase again.
Trump’s CFTC Chairman Nominee Michael Selig to Appear Before Senate on November 19
Michael Selig, President Donald Trump’s nominee for chairman of the CFTC (Commodity Futures Trading Commission), will appear before the Senate confirmation hearing on November 19. Selig currently serves as the chief legal counsel for the US SEC’s cryptocurrency working group and is known for his technocratic approach to crypto regulation.
Debate Over December Interest Rate Cut Deepens Within the Fed
According to the “Fed Whisperer” report, disagreements over interest rate cuts are growing among Fed officials. The hawkish wing argues that rate cuts should be paused due to sticky inflation and the impact of tariffs, while dovish members support cuts, citing weakening employment and falling demand. The delay in some data due to the government shutdown has increased uncertainty in the decision-making process. Market expectations point to a 25 basis point cut in December.
ADP Weekly Employment Data Signals Weakness
ADP reported an average job change of -11,205 per week for the four-week period ending October 25 (previous +14,250). This contrasts with the +42,000 private sector employment increase in the October national report. The discrepancy is attributed to different survey periods. However, when evaluated alongside recent Revelio Labs and Challenger data, this decline indicates continued weakness in the labor market. This trend strengthens the likelihood of a 25-basis-point rate cut in December.
Brazilian Central Bank Introduces New Capital Requirements for Crypto Companies
The Brazilian Central Bank’s new regulation introduces capital requirements ranging from $2 million to $7 million for crypto companies, depending on their type of activity. Companies are also required to obtain a license and establish risk management systems. Although the crypto industry argues that this threshold is too high, the central bank stated that this requirement is aimed at strengthening financial security.
BoE Deputy Governor Breeden: Relaxing Stablecoin Regulation Is Risky
Bank of England Deputy Governor Sarah Breeden warned that relaxing stablecoin rules could pose a stability risk to UK credit markets. Breeden argued that custody limits and liquidity requirements for stablecoin issuers are necessary for the security of the financial system. In an interview with Reuters, Breeden emphasized that the UK’s credit structure, based on its banking system, differs from that of the US, making a “more cautious regulatory approach necessary.”
JPMorgan Launches JPM Coin Deposit Token on Base
US banking giant JPMorgan has launched its long-tested JPM Coin (JPMD) deposit token on the Base Layer 2 network for its corporate clients. The token, used through Kinexys by JPMorgan, enables instant USD transfers within 24 hours. Pilot phase transaction tests were conducted with institutions such as Coinbase, B2C2, and Mastercard. This move signals that JPMorgan has entered a new phase in commercializing its corporate blockchain solutions.
Plasma Transfers XPL Tokens to Anchorage Crypto Bank
The Plasma team announced that $XPL tokens will be transferred to Anchorage Digital Bank within 48 hours. Anchorage is the first crypto bank in the US with a federal license. It was stated that the transfer is in line with the planned unlocking schedule and is a routine custody process.
Sonic Labs Announces Plans to Open New York Office
Sonic Labs CEO Mitchell Demeter announced that the company will expand to New York with a new office and that they are in a strong financial position. Demeter emphasized that Sonic is now focused on real economic benefits and sustainable growth rather than speculation.
Conflux Launches USD₮0 and CNH₮0 Tokens
The Conflux network has launched Tether-backed USD₮0 and CNH₮0 tokens. CNH₮0 is the full-chain version of the offshore Chinese Yuan (CNH₮) and operates on the LayerZero OFT standard. This system enables multi-chain yuan transfers without the need for token wrapping.
REXShares launched its XRPR ETF fund, becoming the first ETF to partially hold XRP spot. The fund was established under the 1940 Investment Company Act but has low tax efficiency. Additionally, CanaryFunds will soon introduce the first 100% spot ETF that will hold only XRP.
Injective Launches Local EVM Mainnet in MultiVM Roadmap
Injective has launched its native EVM mainnet on the Cosmos-based Layer 1 chain. This step is part of the “MultiVM” plan and will allow developers to deploy the same code on different virtual machines, including EVM, Solana VM, and WebAssembly. Injective is thus becoming a leader in multi-chain liquidity and interoperability.
