The Block
Quick Take A child launched a memecoin via Pump.fun and then sold their tokens early for a five-figure profit. However, the crypto community subsequently jumped on the token, temporarily sending it to a market cap of more than $100 million.
QCP Capital analysts remain optimistic for continued risk-on sentiment in equities and bitcoin following a robust September, driven by economic stimulus in China and the Federal Reserve’s recent monetary policy shift.Historically, a positive September has resulted in bitcoin finishing higher in October, November and December, according to Coinglass data.
Quick Take Bithumb, South Korea’s second largest cryptocurrency exchange, said Monday that it is reviewing the option to list on the Nasdaq, according to a local South Korean report. Bithumb has reportedly been preparing for an IPO in the latter half of 2025.
In an interview with Bernstein, CleanSpark CEO Zach Bradford expects bitcoin to reach a peak of just under $200,000 sometime in the next 18 months.Bradford also said that pure-play Bitcoin miners are currently underrated compared to rivals diversifying into AI.
Quick Take The Ethena community is discussing a proposal to integrate Ethereal DEX into Ethena’s reserve management. The proposal includes distributing 15% of any potential Ethereal governance tokens to Ethena token holders.
Quick Take Zhu Guangyao, China’s former vice minister of finance, said at a forum in Beijing that crypto is a “crucial aspect” of the development of the digital economy. Zhu made these remarks despite China’s ongoing ban on crypto trading and mining on the mainland.
Quick Take Yao Qian, a former head of China’s central bank digital currency institute, has been expelled from the Chinese Communist Party for alleged corruption. Yao was an influential government figure in the country’s blockchain industry and was appointed as the first head of the central bank’s digital currency research institute.
Quick Take Russian authorities plan to ban crypto mining activities in a few regions, including occupied territories in Ukraine, as they prepare for the winter season.
Quick Take Analysts at Bernstein named Robinhood the top “crypto deregulation trade” following Donald Trump’s win in the U.S. presidential election. The analysts rate HOOD stock as outperform, raising their price target to $51.
Digital asset investment products brought in $1.2 billion worth of net inflows globally for the third consecutive week, according to CoinShares.The positive flows were a reaction to continued expectations of dovish monetary policy in the U.S. and associated positive price momentum, Head of Research James Butterfill said.
