Crypto weekly is authored by maaria and david blumenfeld

PRICE CHANGE: WTD/YTD
- Crypto Market Cap ($3.61T): -5% / +6%
- BTC ($104,411): -5% / +12%
- ETH ($3,574): -7% / +7%
- SOL ($165): -11% / -13%
- UNI ($6.69): +16% / -49%
- OP ($0.43): +5% / -75%
- COIN ($309): -10% / +25%
- Tether Mkt Cap ($183B): 0% / +32%
- USDC Mkt Cap ($76B): 0% / +73%
- BTC / ETH Dominance: 58% / 12%

THIS WEEK IN CRYPTO
- Bitcoin fell below $100,000 and altcoins experienced significant declines, as broader risk-on assets sold off on hawkish Fed comments indicating October's rate cut could be the last for the year. Link.

- The crypto market declined 20% from its October 6 peak of $4.4 trillion, wiping out nearly all of 2025's gains and leaving the asset class up just 2.5% for the year. Link.

- Stablecoin transaction volume on Ethereum reached a record $2.82 trillion in October. Link.

- The jury failed to reach a unanimous verdict in the fraud trial of two MIT graduate brothers accused of stealing $25 million in cryptocurrency in a sandwich attack, where bots are used to place large trades before and after another user's transactions. The judge declared a mistrial. Link. Link

- 55% of hedge funds hold crypto-related assets, up from 47% last year, with funds allocating an average of 7% of AUM to the asset class. Link.

- Acting CFTC chair Caroline Pham confirmed plans to launch leveraged spot crypto trading on regulated exchanges, marking a significant regulatory shift toward crypto markets. Link.

- Kazakhstan plans to launch a $1 billion crypto reserve fund using seized assets by 2026. Link.

- Block reported nearly $2 billion in bitcoin revenue in Q3, accounting for nearly one-third of its total revenues. Link.

- The Ethereum validator queue grew to 1.5 million ETH waiting to start staking. Link.

- A Columbia University study found 25% of Polymarket's trading volume over the past three years was artificially inflated by wash trading, where users rapidly buy and sell the same contracts, Link.

- Japan's three largest banks (MUFG, Sumitomo Mitsui, and Mizuho) received regulatory approval for a yen stablecoin proof-of-concept trial, with plans to launch by March 2026. Link.

- Robinhood's Q3 profit beat Wall Street expectations but crypto revenue missed estimates despite jumping 300% to $268 million. Link.

- Crypto exchange Gemini applied for regulatory approval to launch a derivatives exchange for prediction contracts, putting it in direct competition with Kalshi and Polymarket. Link.

- Canada unveiled plans to introduce stablecoin legislation requiring issuers to hold adequate reserves, establish redemption policies, and protect personal information. Link.

- Ripple raised $500 million at a $40 billion valuation from Fortress Investment Group and Citadel Securities. Link.

- Ferrari is releasing a crypto token to let its top 100 elite clients participate in the auction for the Ferrari 499P, which won three consecutive Le Mans titles. Link.