USDT Surpasses an US$85 Billion Market Cap — A New Record High | Cryptocurrency Trends

1.Mainstream Exchange Trends:

• Coinbase announces Q3 earnings: Revenue beat expectations, net losses narrow, while volume declines.
• Bybit to list TokenFi (Token) on November 3, 6:00 PM (UTC+8).
• Binance Earn to launch an exclusive promotion for Fixed FLOKI products, during which users will be able to subscribe for up to 35.9% APR.
• Binance to list Memecoin (MEME) on November 3, 4:00 PM (GMT+8), and provide support for the MEME/BNB, MEME/BTC, MEME/USDT, MEME/FDUSD, MEME/TUSD, and MEME/TRY spot trading pairs.

2.Cryptocurrency Trends:

• At Solana Breakpoint, trading platform Jupiter Exchange announces the upcoming launch of its native token JUP, with a 40% commitment to community growth and airdrops.
• ProShares announces on Thursday that it will launch a ETHUSDT"> short Ethereum futures ETF.
• USDT reaches an US$850.57 billion market cap, a new record high.
• DeFi protocol dForce rebrands its lending protocol, dForce Lending, to Unitus.
• DeFi protocol Onyx has decided for the first time to activate its US$40 million XCN token facility, which it co-owns with LDA Capital and others, in order to ensure that its users are properly compensated following a security breach of approximately US$2.1 million.
• According to Founder Xiao Feng, Hashkey Group will partner with RD Technologies and ZA Bank to launch a stablecoin in Hong Kong.
• Radiant Capital, a multi-chain lending protocol, launches on the Ethereum mainnet.
• LSD stablecoin protocol Prisma Finance launches the PRISMA governance token on the Ethereum mainnet.

3.Financing Trends:

• On-chain copyright IP platform Trips raises US$2.5 million in pre-seed round funding led by Shima Capital and others.
• Bitcoin miner Northern Data receives a EUR€575 million unsecured debt facility from Tether.

4.Regulatory Trends:

• The Abu Dhabi Global Market (ADGM) registry announces the launch of the Distributed Ledger Technology (DLT) Foundations Regulations 2023, which aim to provide a tailored legal framework for blockchain foundations, decentralized autonomous organizations (DAOs), and the broader cryptocurrency industry.
• FTX founder Sam Bankman-Fried convicted on Thursday of defrauding customers of his now-bankrupt cryptocurrency exchange in one of the largest financial fraud cases on record, according to Reuters.
• Payments company PayPal Holdings (PYPL.O) announces on Thursday that it has received a subpoena from the U.S. Securities and Exchange Commission (SEC) regarding its U.S. dollar stablecoin.
• According to the official account of the Tongliang People's Court of Chongqing, on October 24, the court sentenced 21 people for aiding criminals in transferring CNY¥2.25 billion abroad. The defendants were accused of using offline Bitpie wallets and other methods to collec t USDT converted from the proceeds of online fraud, online gambling, and other crimes, then selling the USDT via online exchanges.