The Block headlines
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Texas brothers sentenced to 15 years for holding Minnesota family at gunpoint in $8 million crypto heist
Two brothers who held a family for nine hours at gunpoint in Minnesota for $8 million worth of cryptocurrency were sentenced on Friday.
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Strategy’s preferred-stock fix sets up renewed bitcoin buying, analysts say
Strategy fell after Q3 earnings, but StoneX & TD Cowen kept buy ratings, citing $4.83B cash reserve and more stable STRC preferred structure.
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Binance says it has $6.34 billion ready to cover hack losses
Binance has allocated $6.34 billion to cover hack losses, while industry partners have frozen another $3 billion in affected assets.
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Coinbase Q3 net income jumps 66% as prediction markets gain traction
Bernstein analysts said Coinbase's expanding prediction markets and derivatives businesses helped offset weaker spot trading activity.
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Trezor reports suspected hardware implant in Safe 5 sold by CryptoBilis
Trezor urged CryptoBilis buyers to migrate funds after receiving a credible report of a hardware implant inside a Safe 5 device.
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Bitcoin slides below $77,000, BNB drops amid Binance hack
BNB lost 7.1%, while Binance Co-CEO Yi He pledged that the exchange will cover all user losses resulting from the hack.
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Binance investigating hack as suspicious outflows reach up to $5.8 billion
Tether and Circle froze $1.79 billion in USDT and USDC after billions moved out of Binance hot wallets. Binance says it is investigating.
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Strategy reports $19.5 billion in Q3 net income as preferred shareholders approve daily dividends
Strategy reported $19.53B in Q3 net income on a $20.91B bitcoin gain, holds 848,517 BTC, and moves preferreds to daily dividends.
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Polymarket pauses trading after $2.65 million exploit, says third-party provider was compromised
After over $2.5 million was lost within minutes on Polymarket, the platform said it has since placed its exchange in cancel-only mode.
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HYPE surges 15% as NYSE parent ICE moves to bring Hyperliquid perps to US
NYSE parent ICE will partner with and invest in Trade[XYZ] to launch regulated, Hyperliquid-based perpetual futures in the U.S.
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Uniswap Labs opens fee conversion tool TJAR to apps, starting with Robinhood
Uniswap Labs has opened up its Token Jar fee conversion system to other apps through a new tool called TJAR.
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Polygon adds Solana to payment stack linking bank accounts, crypto and payouts
Polygon added Solana to its payments platform, connecting businesses to bank funding, cross-chain transfers, stablecoins and global payouts.
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Curve Finance launches on Stellar in first native deployment outside EVM ecosystem
Curve Finance has launched on Stellar mainnet, its first native deployment outside the Ethereum Virtual Machine (EVM) ecosystem.
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Utah files criminal charges against Kalshi, executives over alleged illegal gambling
Utah AG Derek Brown filed criminal charges against Kalshi, Tarek Mansour and Luana Lopes Lara for allegedly promoting online gambling.
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Robinhood earnings miss, crypto weakness fail to shake Wall Street’s bullish outlook
Bernstein sees Robinhood’s crypto business shifting toward infrastructure as new products like prediction markets and perps gain ground.
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Bitwise raises bitcoin price target to $1.6 million by 2036, projects 34% annualized returns
Bitwise's bear case puts bitcoin at $130,686 by 2036, while its bull case reaches $3.67 million over the next decade.
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Coinbase adds Ripple’s RLUSD stablecoin across retail, exchange and Prime platforms
RLUSD is live on Coinbase with 1:1 USD conversion on XRP Ledger, Ethereum and Base, capping a big week of news for Ripple.
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Avail launches ShieldTX privacy tool targeting copy-trading bots on Hyperliquid
Avail launched ShieldTX, a Hyperliquid privacy tool that creates a separate wallet for each perpetual futures position.
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Crypto braces for potential shift in congressional oversight after midterms
Post-Clarity Act, the crypto sector could find itself navigating a very different political landscape under a new Congress.
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Ripple expects $900 million annualized product revenue run rate as institutional business expands
Ripple expects a $900M annualized product revenue run rate by end of 2026, as RLUSD reaches $2.5B and payments near $150B in lifetime volume.
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Moody’s assigns investment-grade ratings to Ripple’s RLUSD stablecoin
Moody's Ratings assigned the RLUSD A2 long-term and P-1 short-term ratings, citing credit quality and market value of its reserve assets.
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Datavault AI stock plummets 50% after firm says it cannot withdraw bitcoin tied to $150 million deal
The issue centers on a deal with Scilex, under which Scilex agreed to buy shares of Datavault AI for $150 million, payable in bitcoin.
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Robinhood Chain brings in $26 million as crypto revenue rises 20% in Q3
Robinhood’s blockchain boosted crypto revenue, while prediction markets brought in $173 million in the third quarter.
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CFTC sues Utah as battle over prediction market regulation intensifies
The CFTC is escalating its legal fight with states, suing Utah after the state filed a lawsuit against prediction market platform Kalshi.
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Crypto.com and OG.com launch US crypto perps with up to 5x leverage
The contracts have no expiration date and allow traders to bet on crypto prices rising or falling.
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Canton-based trading platform Cancore raises $7.2 million at $60 million token valuation
Cancore, a Canton-based trading platform connecting assets on the network with liquidity on public blockchains, has raised $7.2 million in seed funding. Paper Ventures, dao5, ArkStream Capital, X Ventures, MH Ventures and Proof of Talk backed the round. There was no formal lead investor, though...
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SoFi discloses 503,000 crypto products as gross crypto revenue hits $162 million
SoFi broke out crypto products for the first time. Gross crypto revenue rose 20%, while total net revenue hit a record $1.39 billion.
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Ripple, BNY explore using the XRP Ledger to finance approved invoices
BNY adds XRP and RLUSD to its custody platform, as Ripple and C2FO test settling invoice payments on the XRP Ledger.
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Galaxy Digital swings to $323 million quarterly profit, announces new $200 million share buyback
Galaxy returned to profitability in the third quarter as trading volumes and lending increased, with a new $200 million buyback authorized.
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Bitcoin mining infrastructure firm Luxor raises $16 million to expand AI business
The company plans to expand its AI business and hire about 12 people by year-end, COO Ethan Vera told The Block.