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Justin Sun, founder of Tron, has seen his unrealized profit on PEPE drop sharply amid the recent crypto market sell-off, according to ai_9684xtpa. The position’s unrealized gain had once reached $18.55 million, but fell to about $5.05 million as the market slumped over the past two days. Since Oct. 17, Sun has withdrawn a total of 1.18 trillion PEPE, worth about $48.76 million, from exchanges.

TRM Labs announced the launch of Beacon Concierge, a managed service designed to block and seize illicit cryptocurrency flows across individual blockchains and assets. The company said the service has more than 200 members, covers 80% of total crypto trading volume, and includes a response system that operates within minutes.

World Liberty Financial said it has carried out its first $1 million WLFI token buyback. The company had previously said it would pursue token buybacks using funding sources including returns from managing reserves for its USD1 stablecoin.

Prediction market platform Kalshi has ended its advisory relationship with Donald Trump Jr., the eldest son of U.S. President Donald Trump, Reuters reported. The move came as 1789 Capital, the investment firm Trump Jr. is affiliated with, increased its investment in rival platform Polymarket. Kalshi said both sides agreed to end the advisory arrangement and had been discussing the matter since 1789 Capital led Polymarket’s new funding round in August.

South Korean exchange Upbit announced a temporary suspension of OSMO deposits and withdrawals as Osmosis halted block production.

Bitcoin’s influence on price moves across individual crypto sectors is declining, while sector-specific divergence is increasing, according to a Grayscale analysis. Volatility was highest in the AI sector at 85%, followed by consumer and culture at 76%, utilities and services at 67%, finance at 59%, smart contract platforms at 58%, and currencies at 49%. Bitcoin-related factors accounted for only 30% to 46% across those sectors. Grayscale said Bitcoin’s own recent influence was around 43%, lower than in every sector covered by the analysis. Grayscale said lower correlation between Bitcoin and altcoins does not mean investment risk has fallen. The firm added that because idiosyncratic factors in individual sectors have a significant effect on price swings, those differences could serve as a gauge for assessing the real benefits of portfolio diversification.

Algorithmic stablecoin project Frax Finance said it has launched a Burn Engine that automatically buys back and burns FRAX using protocol revenue. In line with a plan outlined in its third-quarter report, revenue from frxETH is set to flow into the Burn Engine in the fourth quarter.

According to CoinNess market monitoring, BTC has fallen below $71,000. BTC is trading at $70,927.24 on the Binance USDT market.

A hacker who stole about $22 million in crypto from decentralized finance protocol Pando bought 7,548 ETH about seven hours ago and then transferred 4,000 ETH to crypto mixing service Tornado Cash, according to Lookonchain. Tornado Cash is a service that mixes cryptocurrency transaction records, making fund flows harder to trace.

The U.S. Treasury is preparing a new custody framework to unify storage and management standards for government-held Bitcoin, Crypto Briefing reported. Bitcoin management practices have varied across agencies, with some storing cold wallets in desk drawers and others using external custodians. The Treasury plans to manage Bitcoin seized in investigations and assets included in the strategic Bitcoin reserve more systematically. The move suggests the government is strengthening its standards for managing Bitcoin.

CoinMarketCap’s in-house crypto fear and greed index came in at 22, down four points from yesterday, indicating that fear remained in place. The index signals extreme fear as it moves closer to zero and extreme optimism as it approaches 100. CoinMarketCap calculates the index based on price moves among the top 10 cryptocurrencies by market capitalization, market volatility, derivatives market data including put/call ratios, the stablecoin supply ratio (SSR), and CoinMarketCap’s own search data.

According to crypto options exchange Deribit, about $2.3 billion in Bitcoin options is set to expire at 8:00 a.m. UTC today. The put-to-call ratio is 0.48, and the max pain price, the level at which the largest number of option buyers lose their premiums, is $75,500. At the same time, about $280 million in Ethereum options is also set to expire. The put-to-call ratio is 1.31, and the max pain price is $2,200.

Spot CVD is an order-book analysis chart for the BTC/USDT spot trading pair. The upper section shows the volume heatmap, while the lower section shows cumulative volume delta, or CVD. - The volume heatmap tracks trading volume at each price level. The background color becomes brighter when the price stays in a specific range for a longer period or moves sharply. Brighter zones may act as support or resistance levels. - The cumulative volume delta indicator shows buy and sell orders by order size. As buy orders increase, the line in the corresponding color rises. The yellow line represents orders between $100 and $1,000, while the brown line is based on large orders between $1 million and $10 million, among others.

Trezor said it found unauthorized hardware components in three Safe 5 wallets sold through former Southeast Asian official distributor CryptoBilis, according to Bitcoin.com. The company distributed a firmware update to block data theft from the devices and reduced its official reseller network by about 80%. So far, 48 customers have submitted related inquiries, and Trezor is inspecting products directly or verifying them through internal photos.

Lightning Labs has launched the open-source extension "pi402," which lets AI coding agents pay inference costs directly in Bitcoin over the Lightning Network, according to Crypto Briefing. The tool was designed to allow AI agents to check service pricing, make payments and continue their work without account sign-ups, API keys or credit cards. Its core technology is L402, a payment protocol developed by Lightning Labs that combines HTTP’s "402 Payment Required" response with Bitcoin payment invoices on the Lightning Network.

U.S. President Donald Trump has nominated four candidates for seats at the U.S. SEC and the U.S. CFTC, with two picks for each agency, CoinDesk reported. The appointments mark the first such nominations in about a year since 2025. According to the White House, Trump nominated former CFTC Commissioner Kristin Johnson and attorney Steven Levine for SEC seats, and Nathan Ahnonick and Matthew Rowland for CFTC seats. The nominees must be confirmed by the Senate before they can be appointed. Both agencies can have up to five commissioners and have typically maintained a bipartisan structure with members from both parties. The latest nominees also appear to reflect a bipartisan selection.

A roughly $40 billion New Jersey pension fund for police officers and firefighters increased its stake in Bitcoin treasury company Strive (ASST) by 10%, according to BitcoinTreasuries. The fund’s Strive holdings rose to 20,618 shares, valued at about $450,000.

DeFi Technologies (DEFT) posted $18.3 million in third-quarter revenue, down from $22.3 million a year earlier, while operating income fell to $7 million, The Block reported. Net income came to $22.3 million, including mark-to-market and trading gains or losses related to investments in addition to operating performance from its core business. Its subsidiary Valour generated $3.8 million from management fees and staking and lending revenue. Net inflows during the quarter totaled $26.1 million, and average assets under management (AUM) reached $492.8 million.

Gemini, the U.S. cryptocurrency exchange founded by the Winklevoss twins, reported weak third-quarter results as crypto trading activity slowed. Gemini Space Station said Q3 revenue fell 19% year over year to $40.9 million from $50.6 million, while net loss narrowed to $58.6 million from $159.5 million. Total trading volume dropped sharply to $4.5 billion from $16.4 billion a year earlier. Compared with the previous quarter, spot trading volume rose 18%, which Gemini said was driven by increased institutional trading activity tied to Zcash (ZEC). The company is also pursuing a strategy to reduce its reliance on crypto trading fees by expanding into stock trading and prediction markets.

The U.S. Department of Justice said it disrupted hacking infrastructure linked to North Korea’s large-scale cryptocurrency theft and, with court approval, froze more than $1.2 billion in cryptocurrency stolen from Binance to prevent its seizure targets from disposing of the assets. According to the DOJ, North Korean hackers stole more than $400 million in cryptocurrency over the past 18 months through social-engineering attacks known as FaceStealer. U.S. authorities seized the cloud infrastructure used in the attacks, while the FBI secured more than 900 webcam videos of victims. The scheme involved sending video conference invitations and luring victims into joining meetings. In a separate response tied to the Binance hack, the FBI said TraderTraitor, a North Korean military-linked hacking group, stole more than $6 billion in virtual assets from Binance on or around Oct. 29. Through cooperation between the U.S. government and the private sector, more than $2.7 billion has been frozen so far, and the DOJ has received court approval to seize or restrict disposal of more than $1.2 billion of that amount. U.S. authorities said they are tracking efforts to launder the stolen assets through crypto bridges, mixers and exchanges, and will continue asset freezes, seizures and recovery efforts.

Decentralized storage project Filecoin (FIL) said data encryption is now available on Filecoin, allowing users to choose which data to keep private.

A CoinNess analysis suggests U.S. demand for Bitcoin is weakening. According to Glassnode, the Coinbase Premium Index remained negative throughout the price decline that followed its peak in September last year, while its 30-day moving average fell to the lowest level since February this year. A negative premium means Coinbase’s BTC price is lower than Binance’s, a signal that relative buying interest in the U.S. market is weak. Bitcoin rallies in 2024 and 2025 both unfolded alongside a positive premium, although some past rallies began from deeply negative premium levels similar to the current one. The latest drop in the premium therefore signals weaker U.S.-led spot demand while also suggesting that any recovery in demand could be a key variable for a Bitcoin rebound.

The three major U.S. stock indices closed lower today. - S&P 500: -0.35% - Nasdaq: -0.39% - Dow Jones: -0.36%

The U.S. Department of Justice said Operation TorNado, a global dark web drug enforcement action, led to 354 arrests and the seizure of more than $234 million in cryptocurrency and cash. The Block reported the operation also included an investigation into vendors accused of operating on the dark web marketplace DrugHub, which allows only the privacy coin Monero (XMR) as a payment method.

Prediction market platform Kalshi is in talks for a new funding round at a valuation of about $65 billion, Unfolded reported. In October, Kalshi raised $1 billion in a Series G round co-led by Sequoia Capital and Wellington Management, which gave the company a post-money valuation of $40 billion.