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As of Oct. 25, $24 billion in stablecoins was deposited in decentralized finance protocols, accounting for only about 8% of the total stablecoin market capitalization of $298.4 billion, Crypto Briefing reported, citing Token Terminal data. The combined market size of stablecoins and tokenized assets stood at about $333 billion, with less than 10% deposited in DeFi. By asset, USDC had the highest share of DeFi deposits at 38.2% ($9.2 billion), followed by USDT at 20.3% ($4.9 billion) and USDe at 9.0% ($2.2 billion).

Coinbase said more than 99% of customer assets are stored in cold storage, according to Unfolded.

France’s lower house has passed an amendment requiring taxpayers holding more than €100,000 ($108,600) in self-custodied cryptocurrency to report those holdings to tax authorities, Cointelegraph reported today. Amendment I-2701 passed on Tuesday by 150 votes to 44, with eight abstentions, and would apply the reporting requirement based on holdings as of Dec. 31 of the tax year. The measure is part of France’s 2027 budget bill and must remain in the final legislative process to become law. The French lower house is set to complete its first review of the budget bill by Nov. 17, with Senate deliberations starting on Nov. 20. Separately, the lower house previously rejected an amendment that would have exempted capital gains on crypto payments of €1,000 ($1,086) or less per year from taxation.

Japan’s Sony Bank said a hack at Securitize Japan, the Japanese subsidiary of digital securities tokenization platform Securitize, exposed the personal data of 621 customers. Of those, four had their names, addresses, dates of birth and account numbers exposed, while the other 617 had only their names leaked. Securitize Japan detected a system anomaly on Oct. 29, launched an investigation and confirmed unauthorized external access later the same day. Sony Bank said the incident affected only services related to digital securities and was unrelated to its other banking services. Digital securities trading is currently suspended. No fraudulent transactions or online publication and spread of the leaked personal data have been confirmed so far.

U.S. President Donald Trump had no public events scheduled on Nov. 4 after Republicans suffered a major defeat in the midterm elections, Walter Bloomberg reported. The White House schedule for the day included only a private policy meeting. In an interview with The Wall Street Journal, Trump acknowledged the Iran war had some impact on the party’s election loss, while saying he did not regret the decision to start the war.

Bitcoin rebounded even after Democrats won majorities in both chambers of the U.S. Congress in the U.S. midterm elections, prompting analysis that the outcome had already been priced in. According to Decrypt, BTC briefly fell after the election results were announced, but later reclaimed levels above $78,000 and rebounded nearly 4% from its low. Andre Dragosch, head of research at Bitwise Europe, said the possibility of Democrats controlling both chambers had already been reflected in the market, and the recovery accelerated as selling pressure was exhausted. At the same time, Dragosch noted concerns remain in the market that the result could increase uncertainty over the push for crypto-friendly policies. James Butterfill, head of research at CoinShares, said the likelihood of delays in passing legislation has increased, but a crypto-friendly stance at regulators such as the U.S. SEC and the CFTC, as well as regulatory progress already made through measures such as the GENIUS Act, would not disappear.

Rep. Bill Huizenga, vice chairman of the U.S. House Financial Services Committee and a crypto-friendly Republican, lost an early lead in midterm vote counting and was later overtaken by Democratic candidate Sean McCann, Crypto in America founder Eleanor Terrett said on X. Huizenga is a member of the House Financial Services Committee’s digital assets subcommittee. Meanwhile, Rep. Bryan Steil, the subcommittee’s chairman, failed to win reelection, leaving the subcommittee’s future unclear. The subcommittee’s name, scope and membership are set whenever a new Congress begins every two years, so the next Congress could rename it, change its responsibilities or abolish it altogether.

Gnosis (GNO), an independent layer-one blockchain, said on Nov. 4 that it plans to bring Gnosis Chain into the Ethereum Economic Zone, or EEZ, by next spring and convert it into the first general-purpose chain settled on Ethereum. Under the plan, existing Gnosis Chain smart contracts, balances, addresses, chain IDs, and its xDAI gas token will remain unchanged on Ethereum, allowing developers to continue using the current environment without redeploying contracts. CoinNess reported in September that Gnosis Chain was moving to abandon its standalone layer-one model and pursue a transition to Ethereum layer-2.

Hong Kong plans to automatically exchange cryptocurrency transaction data with overseas tax authorities starting in 2028, but China will be excluded for the time being, Wu Blockchain founder Colin Wu said in an analysis. Hong Kong’s Legislative Council on Nov. 4 passed an amendment to its tax ordinance to adopt the OECD’s Crypto-Asset Reporting Framework, or CARF. In a post on X, Wu said mainland China is not participating in CARF and therefore will not receive the latest exchange data, with authorities mainly checking bank deposit and withdrawal information instead. Wu added authorities already have exchange data from before investors left the mainland. Wu said mainland taxpayers are subject to a 20% tax rate on crypto trading gains even if they are in Hong Kong, while Hong Kong taxpayers pay no tax on profits from long-term investing or occasional trading. Wu added mainland authorities have not yet begun enforcement in this area, but are likely to move in stages, and a retrospective review of past transactions is only a matter of time.

UK asset manager Schroders is working with Centrifuge (CFG) to tokenize an emerging-market bond investment product on the Solana (SOL) blockchain, CoinDesk reported. It will mark Schroders’ first move onto Solana. The product is tied to Schroders’ emerging-market bond strategy, which invests in bonds issued by emerging-market governments and companies. Investors will hold tokenized interests in a feeder fund on Solana rather than direct stakes in Schroders’ existing emerging-market bond fund, while Centrifuge will support token issuance and administration. Schroders received approval from Irish regulators in August for its first tokenized interest in a U.S. dollar money market fund.

AI infrastructure blockchain Bittensor said on its official X account that its ecosystem’s annualized revenue is estimated at around $70 million. Bittensor added that annualized revenue from revenue-generating subnets rose from about $35 million two months earlier to $50 million last month and has now reached roughly $70 million, marking an increase of about 100% over the two-month period. It noted that because annualized revenue is an estimate based on a specific point in time, the key challenge is to sustain growth, improve profitability, and reduce reliance on token issuance rewards. Bittensor had previously projected that ecosystem annualized revenue would surpass $100 million. TAO was recently trading at $227.76, up 0.67%, according to CoinMarketCap.

Technical indicators on the three-day charts of Ethereum (ETH), Solana (SOL) and Cardano (ADA) are showing TD Sequential buy signals that may point to a trend reversal, crypto analyst Ali Martinez said. Martinez set upside targets of $2,500 and $2,700 for ETH, $105 and $120 for SOL, and $0.2268 and $0.2677 for ADA. Martinez added buy signals were also observed in Sui (SUI), Aave (AAVE) and Chainlink (LINK), with possible gains toward $1.2, $176 and $14, respectively. Separately, crypto analyst Michaël van de Poppe said altcoins could outperform Bitcoin going forward as uncertainty tied to the U.S. midterm elections eases.

Democrats have taken control of both chambers in the U.S. midterm election, which could slow the Trump administration’s push for crypto-friendly policies, CoinDesk reported. Tim Sun, chief researcher at HashKey, said the Democratic victory could increase political resistance to related legislation, including a crypto market structure bill. Tagus Capital said expectations that new crypto legislation would be difficult to pass, with momentum behind the CLARITY Act halted, had already been priced in by the market. The firm added that altcoins and DeFi remain more exposed to regulatory risk, while BTC has firmer downside support through its commodity status and ETFs, leaving its medium-term direction tied to ETF flows, real interest rates and Federal Reserve policy. Raj Kamal, CEO of TransFi, said future bill negotiations could bring stronger user-protection measures and tighter limits on interest payments for stablecoins. Kamal added that the GENIUS Act will take effect on Jan. 18, 2027, regardless of the election outcome.

U.S. Bitcoin miner Riot Platforms said in a third-quarter earnings report filed with the U.S. SEC that it sold a total of 20,264 BTC through the third quarter this year, securing about $1.5 billion in cash, and sold 8,962 BTC in the third quarter alone. The company primarily used the cash to build data centers. Third-quarter revenue rose 1% from a year earlier to $181 million, while net income fell sharply to $4.03 million from $104 million a year earlier. By business segment, Riot recorded $116 million in Bitcoin mining revenue, $18.4 million in data center revenue, and $47 million in engineering revenue. Third-quarter Bitcoin production increased 16% from a year earlier to 1,637 BTC, while the cost to mine one BTC fell to $39,265. As of Sept. 30, Riot held 2,418 BTC worth $202 million. The company also fully repaid its $200 million credit line from Coinbase and recovered all BTC posted as collateral.

The three largest political action committees tied to the crypto industry spent about $170 million in the U.S. midterm elections, far exceeding the roughly $72 million spent by AI-related PACs, according to Eleanor Terrett, founder of crypto-focused outlet Crypto in America. In a post on X, Terrett said the AI industry also deployed significant political funding in the election, but fell short of the crypto sector. Terrett added both industries still saw some candidates lose despite heavy financial backing, with AI PAC-backed candidates Darlin Graham, Mike Rogers and Carlos De La Cruz all defeated.

Robert Kiyosaki, author of "Rich Dad Poor Dad," said on X that while many investors panic when gold, silver, and Bitcoin plunge, he instead buys more. Kiyosaki added he keeps buying whenever gold, silver, and Bitcoin fall because global debt levels continue to rise, particularly in the United States. He also criticized leaders for failing to address what he described as the root problem and faulted education systems for not properly teaching money and finance. Kiyosaki further argued fiat currency’s original purpose is to take wealth from people who work, earn, and save, adding he is instead looking forward to the next major drop in gold, silver, and Bitcoin.

Nasdaq-listed U.S. Bitcoin miner Hut 8 said it completed a $250 million share repurchase using proceeds from the sale of about 3,102 BTC from the third quarter through before its Nov. 4 earnings release. As of the end of September, before reflecting post-quarter sales, the value of BTC holdings attributable to Hut 8 stood at $697.4 million, while BTC holdings attributable to American Bitcoin were valued at $702.9 million. Hut 8’s third-quarter revenue fell 14.9% from a year earlier to $71.1 million, while net income rose about 3.7-fold to $189.5 million. The net profit figure included $413.8 million in digital-asset-related gains, most of which were unrealized.

BitGo has launched BitGo Global Markets, a trading and financial services division for institutional clients, The Block reported on Nov. 4. The new unit will be led by Pete Janney, a former executive at Bitcoin financial services firm NYDIG. It plans to offer institutional clients spot trading, OTC trading, crypto-backed lending, derivatives including options and swaps, and structured financial products. It will also provide eligible institutional clients with investment strategy management, private fund access, and research services. CoinNess previously reported that BitGo had acquired NYDIG’s institutional trading business.

Strategy founder Michael Saylor said the U.S. midterm election results showed bipartisan support for strategic Bitcoin reserves. In a post on X, Saylor said Republican candidate Byron Donalds, who backed a federal Bitcoin reserve, was elected governor of Florida, while Democratic candidate James Talarico, who supported a state-level reserve bill, won a Texas Senate seat.

The number of companies objecting to tokenized stock listings on OKXICE, a joint platform run by crypto exchange OKX and ICE, the parent of the New York Stock Exchange, has risen from 56 to 59. According to a list released by OKXICE on Nov. 3, the newly added companies were Apple, Home Depot and GE Vernova. That means six of the Magnificent Seven major U.S. big tech companies, excluding Meta, are now on the opposition list. OKXICE had originally named 62 companies as potential tokenization targets.

Circle said in its third-quarter earnings release that the Arc mainnet is pursuing a transition to a proof-of-stake model in 2027. Circle said more than 100 institutions and ecosystem participants joined the Arc mainnet on its launch day, with USDC integrated. Major institutions, including operators of global financial systems, took part in the initial validator group, according to the company. Circle added that it completed the issuance of the ARC token alongside the mainnet launch, with the initial supply set at 10 billion tokens. That makes Circle a listed company that has issued a network token for a layer-one blockchain. Circle said ARC was designed as the Arc network’s native token for security, utility, and governance coordination. CoinNess previously reported that Circle disclosed $182 million in revenue from the ARC presale.

Circle, the issuer of the dollar-pegged stablecoin USDC, reported third-quarter revenue of $865 million, up about 17% from a year earlier, according to a post on its official website on Nov. 4. Net income rose 5% on year to $226 million. Average USDC circulation increased 8% to $73.3 billion, while on-chain transaction volume climbed 49% to $13.9 trillion. Adjusted EBITDA jumped 85% to $317 million. Circle also cited a $100 million equity investment from Binance, a partnership with Chelsea FC, and expanded USDC payments infrastructure with Visa and Samsung Wallet as key third-quarter achievements. In addition, the company reported $182 million tied to the Arc mainnet launch and ARC token presale revenue, and said it carried out a workforce reduction of about 5% in the third quarter.

The Cardano Foundation said Petrobras, Brazil’s largest state-run oil and natural gas company, is tokenizing sustainable aviation fuel, or SAF, certificates on the Cardano chain. The foundation’s head of business development for Latin America appeared on CNN Brasil with Petrobras and discussed the tokenization of SAF certificates, improved traceability, and the prevention of double counting.

Mantle said voting is underway on MIP-35, its fourth-year core budget proposal. Drafted by Mantle’s core contributor team, the proposal covers the project’s core budget from July 2026 through June 2027.

Bloomberg Intelligence macro strategist Mike McGlone said prices across Bitcoin and commodity markets are increasingly showing a pattern of sharp rallies followed by steep declines. In a post on X, McGlone said silver surged about 60% in the first quarter, then turned lower and was down about 30% from the start of the year as of Nov. 3. He said silver’s return to levels first traded in 1980 may suggest a typical commodity boom-bust cycle is spreading more broadly. McGlone added that while West Texas Intermediate crude rose to over $100 a barrel in late October, prices for U.S. natural gas, copper, grains and Bitcoin fell, which may signal the sharp rise-then-drop pattern is becoming more widespread. McGlone had earlier said BTC could fall to $10K if the U.S. stock market undergoes a 20% correction.