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Global crypto funds, managed by giants like BlackRock and Grayscale, received net inflows of $2.18 billion last week, reaching $29.2 billion year-to-date, according to CoinShares. This flow was driven by political expectations, with election poll shifts impacting Bitcoin’s sensitivity. Total assets under management surpassed $100 billion, while Bernstein analysts foresee a rise to $80,000-$90,000 if Trump wins, and a drop to $50,000 with a Harris victory.
Cryptocurrency markets are expected to remain volatile until U.S. presidential election results are confirmed, influencing short-term pricing. Bitcoin (COIN:BTCUSD) is down 1.6% in the last 24 hours, trading at $67,674.67. Past elections saw significant Bitcoin increases, as noted in 2012, 2016, and 2020. Despite decreasing returns, this trend could lift BTC by up to 47.8%, reaching $103,500 by the end of 2025, according to CoinDesk.
Polymarket, a crypto prediction market, created two contracts for the U.S. presidential election, one for the “winner” and another for the “sworn-in candidate.” The first relies on media networks to decide the winner, while the second waits until January 20, Inauguration Day, to settle bets. In case of election disputes or uncertainties, the “sworn-in” contract offers greater security for investors, reflecting the growing complexity of electoral predictions in politically polarized markets.
Major crypto investors are heavily betting on a Donald Trump victory. Five “whales” control more than 50% of bets favoring Trump, potentially earning up to $81 million if he wins. With millions already at stake, the November 5 election is drawing significant interest from crypto investors. The counting process could take days, especially in key states like Arizona and Pennsylvania, where tight races are anticipated.
The Fairshake Super PAC, focused on crypto policies, has raised $78 million to support pro-innovation blockchain candidates. This includes $30 million in cash and $48 million in new commitments, with notable donations from Coinbase ($25 million) and Andreessen Horowitz ($23 million). Its goal is to influence U.S. policy amid regulatory pressures, advocating for clear regulations that encourage innovation and job creation. Fairshake aims for bipartisan impact in Congress by 2026.
Eleven years ago, Vitalik Buterin released Ethereum’s “proto-white paper,” introducing smart contracts and the vision of a decentralized platform. This concept laid the foundation for DeFi, which today provides financial alternatives, like lending and exchanges, without intermediaries. Beyond finance, Ethereum (COIN:ETHUSD) has impacted sectors like tourism, facilitating payments and ticketing. In the coming years, Ethereum aims to tackle interoperability challenges, promoting increased institutional adoption and prioritizing user security against cyber threats.
In October, the Solana network (COIN:SOLUSD) set a record with 123 million active addresses, up 42% from September. Memecoins, especially via platforms like Pump.fun and Raydium, fueled this activity. Solana also surpassed Ethereum and other blockchains in monthly engagement, with over 100 million active addresses. The network attracts users with fast transactions and low costs, ideal for high-frequency trading.
Rune Christensen, co-founder of Sky (formerly MakerDAO), plans a “strictly deflationary” model for its main token, reducing the total supply through token burns and avoiding new issuance under normal conditions. This model would only allow additional token creation in emergencies, like insolvency risk. The proposal also includes token rewards for governance engagement, with voting scheduled for November 11 to 14.
Celestia (COIN:TIAUSD) dropped 4.4% in the past 24 hours to $4.36, showing a roughly 57% decline over the last six months due to increased selling pressure and token unlocks. However, technical analysis, including Bollinger Bands and the Relative Strength Index (RSI), indicates a potential reversal. Support near $4.12 could boost recovery to $5.23 if held, though a break of this level might push TIA down to $3.72.
Tether (COIN:USDTUSD) CEO Paolo Ardoino denied that the stablecoin company plans to launch its own blockchain, emphasizing the importance of neutrality and partnerships with other platforms. Ardoino noted that blockchains are seen as transport layers and that the market is already saturated, making an official blockchain launch unnecessary. The company remains focused on integrating its stablecoins into Layer 2 solutions to enhance usability and reduce fees.
Justin Sun and Andre Cronje claimed that Coinbase (NASDAQ:COIN) demands high fees for asset listings, despite CEO Brian Armstrong’s insistence that listings are free. Armstrong responded by stating that Coinbase doesn’t charge fees but offers an optional Earn marketing program, which doesn’t impact listing status. However, Cronje and Sun allege Coinbase requested millions in fees and deposits, contrasting with Binance, which reportedly doesn’t charge for listings. The controversy highlighted differing views on entry costs for major exchanges.
Kraken exchange has launched a licensed brokerage in Australia, geared toward institutional investors, allowing crypto derivatives trading without the need to directly hold digital assets. Available since November 3, the service supports fiat and crypto as collateral, along with risk management tools.
The Monetary Authority of Singapore (MAS) announced new initiatives to bolster tokenization in finance, aiming to increase liquidity and infrastructure for tokenized assets. Among efforts, MAS will implement “Project Guardian,” a collaboration between major financial institutions like Citi (NYSE:C) and HSBC (NYSE:HSBC), to explore tokenization in capital markets. The initiative includes specific guidelines for fixed income and tokenized funds and permits using the digital Singapore dollar for secure transactional settlements.
Deutsche Telekom (TG:DTE) announced its new Bitcoin mining project, “Digital Monetary Photosynthesis,” utilizing previously unused renewable energy. Developed by Telekom’s subsidiary MMS and in partnership with Bankhaus Metzler, the project aims to stabilize Germany’s power grid by converting excess energy into digital value. Operations will take place in Backnang, at Riva’s facilities, with potential to expand financial services for digital assets.
Alibaba (NYSE:BABA) is scaling back its metaverse division, laying off dozens of employees to focus on greater efficiency, according to the South China Morning Post. Founded in 2021, the Yuanjing metaverse unit, based in Shanghai and Hangzhou, received billions of yuan but lost momentum as resources shifted to artificial intelligence, a trend also seen among other tech giants. Despite cuts, the division continues to offer tools and services in the metaverse.
The growing presence of AI agents promoting, creating, and transacting cryptocurrencies is transforming the market. Examples like the Luna bot and the Terminal of Truths platform drive adoption, allowing transactions without human oversight and encouraging interaction through tipping and memecoins. Coinbase launched the Based Agents, enabling users to create AI agents with wallets in minutes. This integration promises to revolutionize DAOs and DeFi but still faces security challenges and legal questions.
Supported by Standard Chartered (LSE:STAN), Zodia Custody is negotiating $50 million in funding to expand internationally and diversify its offerings. According to CEO Julian Sawyer, the new funding round will attract payment and tokenization companies, strengthening its expansion. This funding, advised by Architect Partners, follows a $36 million round led by SBI Holdings in April. Recently, Zodia partnered with 21Shares to offer secure crypto ETP custody in Europe and Switzerland, enhancing security and regulatory compliance for investors.
Scammers in Colorado, United States, posed as police, deceiving residents into paying non-existent fines in Bitcoin. In one case, a scammer claimed the victim owed $10,000 for missing jury duty, leading to a $6,000 Bitcoin transfer. Authorities prevented the remaining amount from being transferred, avoiding further losses. Officials caution that they never request payments in cryptocurrencies by phone, highlighting the importance of caution with irreversible blockchain transactions.
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