Markets limped into the evening after a bruising stretch that saw Bitcoin’s slide deepen and nerves fray across DeFi. Bitcoin ended October in the red and kicked off November on a bearish note, slipping below 108k with more than a billion dollars in liquidations as macro jitters and recent Fed moves sapped risk appetite. A government shutdown narrative piled on, with some desks blaming the standoff for a liquidity freeze and a roughly 20 percent pullback from recent highs across majors like Bitcoin and Ethereum. Ethereum’s own flush was stark, down more than 13 percent intraday to the 3k area as cascading liquidations hit over 300k traders. The pain spread to meme caps and long-tail alts, with Dogecoin (DOGE) dropping 17 percent after whales unloaded more than a billion tokens and Shiba Inu (SHIB) weighing on sentiment despite a rising burn rate. Not everything traded in lockstep. Privacy coins caught a bid as investors rotated toward anonymity, pushing Monero, Zcash, and Dash to double-digit gains and underscoring a quiet shift toward privacy narratives during regulatory crackdowns. The day’s other story was security. Balancer’s exploit topped 128 million in losses, though the team clawed back 19.3 million and detailed the attacker’s use of Tornado Cash. The fallout rippled to Berachain (BERA), where validators halted the chain for an emergency hard fork tied to the Balancer V2 vulnerability as teams prioritized user-fund protection. Stream Finance froze withdrawals after a 93 million hit that cratered its XUSD stablecoin by nearly 70 percent, raising concerns about cross-protocol exposure and renewing calls for deeper audits and transparency. If you needed a reminder that leverage cuts both ways, another market downdraft tied to DeFi exploits, whale selling, and Fed uncertainty wiped roughly 100 billion from crypto valuations as sentiment flipped from greedy to fragile. Regulators and enforcers kept the heat on. U.S. prosecutors asked a judge to hand Samourai Wallet’s creators five-year prison terms for allegedly facilitating 237 million in laundering, while the Treasury sanctioned North Korean bankers and firms accused of moving more than 3 billion in stolen crypto to fund weapons programs. Over in the FTX saga, the estate scrapped plans to cap repayments across 49 countries after creditor backlash, a win for overseas claimants. Sam Bankman-Fried’s legal team, meanwhile, pressed for a new trial to overturn his 25-year sentence, arguing bias during conviction proceedings. Exchanges and power players offered their own drama. Wintermute’s Evgeny Gaevoy said talk of a lawsuit against Binance over October’s crash was false, aiming to quash rumor-fueled headlines. Binance CEO Richard Teng pushed for clear rules to rebuild trust amid questions around the post-pardon spotlight on Changpeng Zhao, and CZ said he would stop sharing personal trades after a 2.5 million ASTER disclosure whipsawed markets. One sharp-trading whale shorted Aster (ASTER) against CZ’s buy and is sitting on more than 21 million in profit as gains across shorts near nine figures, a reminder that social signals can misfire under stress. Adoption nevertheless marched forward in pockets. Ripple’s RLUSD surged past 1 billion in market cap in under a year, becoming the largest stablecoin on the XRP Ledger and breaking into the market’s top ten. Bitnomial became the first U.S. derivatives venue to accept a stablecoin as margin, greenlighting Ripple USD (RLUSD) and expanding support for XRP (XRP). UBS completed the first live on-chain redemption of a tokenized fund using Chainlink’s Digital Transfer Agent, an early signal of how a 100 trillion dollar industry could modernize via blockchain rails (LINK). On the corporate treasury front, Michael Saylor’s Strategy rolled out euro-denominated perpetual preferreds to target European institutions and buy more Bitcoin (BTC), while Paris-based Sequans sold 970 BTC to cut debt in half, pairing balance-sheet discipline with a long-term accumulation stance. Forward Industries announced a 1 billion share buyback while leaning into Solana tooling as part of its plan to integrate digital assets into corporate finance strategy (SOL). Ecosystem debates remained lively. Charles Hoskinson blamed ADA holders for Cardano’s sluggish DeFi traction, arguing that more engaged users could lift total value locked by billions and narrow the gap with Ethereum and Solana (ADA, ETH, SOL). That argument ran headfirst into a risk-off market, where liquidity is thin, narratives are brittle, and even solid builders get dragged by macro. Heading into the next session, traders will watch whether Bitcoin can stabilize as seasonal November optimism collides with policy headlines and lingering exploit fallout. DeFi security, stablecoin resiliency, and institutional plumbing pushed forward today even as prices stumbled. In crypto’s current mood, that quiet progress may matter most when the tide turns.
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📈💰The Federal Reserve announced today that it will maintain its current interest rates, citing a strong job market and moderate economic growth. This decision comes as no surprise to those in the crypto community, as many have been anticipating this outcome for weeks. However, this news may have some investors feeling slightly disappointed, as they were hoping for a rate cut to boost the market.💸💻Crypto tickers such as BTC, ETH, and XRP have been trending upwards in recent weeks, with many investors hoping for a continued bull run. However, with the Fed's decision to keep interest rates steady, some may be wondering if this will have a negative impact on the market. While it's impossible to predict the exact effect on crypto prices, it's important to remember that the Fed's decision is based on a variety of factors and not solely on the crypto market.📉🌎The Fed's decision also has implications for the stock market, with many investors closely watching the anno...
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