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Mon 2 Nov
Morgan Stanley cuts Coinbase to underweight and lowers target to $120
Morgan Stanley analyst Michael Cyprys downgraded Coinbase to underweight from equal weight and cut his price target to $120 from $258, citing slower trading, weak revenue prospects and uncertainty after the Binance hack. He expects fourth-quarter transaction revenue about 11% below market expectations; Coinbase closed at $143.54 on 1 Nov.
Lumentum falls 5.5% premarket as Marvell drops 3.3%
Lumentum's premarket decline widened to 5.5% and Marvell Technology fell 3.3%, according to MSX.COM data. Their merger agreement sets termination fees of up to $5.8bn payable by Marvell in some cases, including $3.2bn in certain scenarios, and $2.9bn payable by Lumentum if it ends the deal.
Darkfost says Bitcoin short-term holders' unrealised losses top $450m
Crypto analyst Darkfost estimates unrealised losses for holders of Bitcoin moved in the past one to three months at about $452m, the first notable pressure since the bear market ended.
Previous related news
- Darkfost says Bitcoin short-term holders' cost basis has risen to $76,000
- Murphy says BTC short-term holder coins repriced as absorption emerges
- Darkfost says short-term Bitcoin holders sent over 36,600 loss-making BTC to exchanges in 24 hours
US stock futures rise after AI trade sell-off as tech leads
US equity futures rose, led by technology stocks, after a poor week for the artificial-intelligence investment trade, with falling oil prices offering relief. Investors are watching October manufacturing data, Apple's earnings and the US midterm elections.
Hassett says AI is a well-funded ecosystem
White House National Economic Council director Hassett said artificial intelligence is a "very well-funded ecosystem" with plenty of capital, and that people should feel reassured.
Tom Lee says he still expects markets to stay strong through year-end
Tom Lee, chair of the Ethereum treasury company BitMine and co-founder of Fundstrat, said he still expects markets to remain strong through the end of the year despite recent volatility. He discussed the week ahead, the US midterms and the Binance attack on CNBC's Squawk Box.
Zhao Changpeng says local-currency stablecoins would lift demand for currencies and government bonds
Zhao Changpeng said on X that more countries will realise issuing stablecoins in their own currency lifts demand for that currency and for their government bonds, adding that the dollar is already far ahead in this respect.
Bitget's Xie Jiajun teases new IPO subscription, VIPs to get larger allocations
Xie Jiajun, Bitget's Greater China head, posted 'IPO is coming?' and said users who deposit to become VIPs can unlock larger subscription allocations. Bitget has not yet disclosed the project or subscription details.
FLNC falls 12.7% in an hour to $5.093
FLNC dropped 12.7% in one hour and 11.4% over 24 hours, trading at $5.093, according to MSX.COM data.
OKX publishes 49th proof of reserves, marking four years of monthly reports
OKX's 49th proof-of-reserves report shows reserves of at least 100% for more than 20 major coins, with BTC at 108%, ETH at 101%, USDT at 106% and USDC at 100%. The four together are worth about $27.8bn, and OKX has published the reports monthly since November 2022.
Strategy adds 810 Bitcoin, total holdings reach 849,327 BTC
Strategy has disclosed buying 810 Bitcoin, bringing its total holdings to 849,327 BTC.
Address with about $156m profit adds $5.02m SILVER short
An address whose contract account has about $156m in cumulative profit added a short of 100,000 SILVER units worth about $5.02m at an average of about $50.15. It now holds 435,000 SILVER short, valued at about $21.8m.
Strive says it bought 124 Bitcoin at average of about $80,526
Strive bought 124 Bitcoin between 24 and 30 October 2026 at an average price of about $80,526 including fees, taking its holdings to 43,124 Bitcoin as of 30 October. Cash and equivalents stood at $490m, down $14m from 23 October, alongside 505,000 Strategy STRC preferred shares worth about $50.1m.
IOSG Ventures weighs Bitcoin's midterm election effect against halving cycle
IOSG Ventures says Bitcoin rose a year after each of the three complete US midterm cycles it has seen, but fell in the weeks after each vote. It questions how much the history applies to 2026, with this year's pre-election drawdown smaller than the median.
Binance generates ZK proof for 31 Oct reserve snapshot as replenishment reaches 95%
Binance said the zero-knowledge proof for its proof-of-reserves snapshot taken at 00:00 UTC on 31 Oct 2026 is fully generated, letting holders of BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC confirm at least 1:1 backing. About 95% of assets affected by the security incident have been replenished, with a broader snapshot due 4 Nov and withdrawals for more networks restored in stages tomorrow.
Previous related news
- Axel Adler Jr says Bitcoin fell again in October but market reaction stayed restrained
- Elliptic says no evidence North Korean hackers used AI in Binance theft
- Elliptic says about $3.24bn of stolen Binance assets remains in linked addresses
XRP Ledger fix separating burn and mint powers may activate on 4 Nov
A fix for an XRP Ledger flaw that let accounts with only token-burning authority mint new tokens could activate as early as 14:46 UTC on 4 Nov. The change, which would not affect XRP supply, has backing from 33 of 35 validators, with at least 29 needed for two weeks.
Previous related news
- XRPL to fix security flaw that could let stablecoin partners mint tokens unauthorised
- XRP Ledger developers propose four fixes to tighten restricted token rules
- XRPL fixCleanup3_4_0 amendment activation window moves to 4 November after vote reset
Trump says he would consider pre-emptive pardons for Musk and allies
US President Donald Trump said he would consider pre-emptive pardons for Elon Musk and his associates if Democrats retake Congress after the midterms, to shield them from congressional investigations. He cited Joe Biden's pre-emptive pardons as precedent and named Edward Coristine, who worked on Musk's Department of Government Efficiency cost-cutting programme.
KAST's Raagulan Pathy says platform will not issue a token
KAST founder Raagulan Pathy says the stablecoin payments platform will not issue a token, and instead plans to convert user points into KAST Pioneer Units issued by a KAST-linked SPV, with users able to confirm the conversion in the app from early December.
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