[Coinbase Q3 Net Profit Reaches $432.6 Million, Trading Revenue Increases to $1.05 Billion] Coinbase released its Q3 financial report, showing a net profit of $432.6 million ($1.50 per share), significantly up from $75.5 million ($0.28 per share) in the same period last year, driven by increased trading volume due to heightened digital asset volatility. Revenue rose from $1.21 billion in the same period last year to $1.87 billion, while trading revenue increased from $572.5 million to $1.05 billion. Subscription and services revenue grew 34.3% to $746.7 million, with stablecoin revenue reaching $354.7 million, compared to $246.9 million in the same period last year.

[U.S. Senate Passes Resolution to End Trump's Comprehensive Tariff Policy] The U.S. Senate passed a resolution with 51 votes in favor and 47 against, to terminate President Trump's comprehensive tariff policy implemented globally. The resolution requires a vote in the House of Representatives, but House Republicans have previously blocked related legislation multiple times, making it unlikely to reach a vote. Even if the House passes it, Congress would still need a two-thirds absolute majority to override a presidential veto. Previously, the Senate had already passed two resolutions to cancel tariffs imposed on Canada and Brazil.

[Stanley Huang Adds 695 ETH in 2 Hours, Currently Facing a $109,000 Unrealized Loss] On October 31, Hyperinsight monitoring showed that Stanley Huang increased his long position by approximately 695 ETH within the past 2 hours. His 25x leveraged long position value has risen to $6.5 million. Currently, the position is facing an unrealized loss of $109,000 (-41%) and has incurred funding fees of $23,865.

[JPMorgan: USDC On-Chain Activity and Market Cap Growth Rate Surpass USDT] JPMorgan analysts pointed out that, benefiting from a clearer regulatory framework and increased institutional adoption, the stablecoin USDC issued by Circle has surpassed Tether's USDT in terms of on-chain activity and market capitalization growth. Data shows that USDC's market cap has grown from approximately $43 billion in January 2025 to about $74 billion currently, an increase of 72%, significantly higher than USDT's 32% growth rate over the same period. USDC's transparent reserve management, regular audits, and compliance with regulatory frameworks such as the Markets in Crypto-Assets (MiCA) regulation have made it the preferred stablecoin for financial institutions. The MiCA regulation, set to take effect in July 2024, has driven the circulation speed and on-chain activity of USDC. Additionally, USDT faces delisting pressure due to its lack of MiCA authorization, while USDC has further solidified its market position through integration with payment networks, applications on blockchains like Solana, and support for cross-chain transfer protocols. Analysts believe that competition in the stablecoin market may exhibit a 'zero-sum game' dynamic, unless the overall size of the crypto market expands significantly. U.S.-based stablecoin issuers are likely to focus primarily on competing for market share.

[Whale Deposits 5.18 Million USDC into HyperLiquid and Opens 25x Leveraged ETH Long Position] On-chain data monitoring tool Onchain Lens shows that within the past 32 hours, a whale address deposited 5.18 million USDC into the decentralized trading platform HyperLiquid and opened a 25x leveraged long position on Ethereum (ETH). This high-leverage operation has drawn market attention and may potentially impact ETH's short-term price fluctuations.