Former FTX US President: Crypto leveraged trading is the main issue

[BlackRock IBIT Holdings Exceed 800,000 BTC] Official data from BlackRock shows that as of October 30, the IBIT holdings market value is $86.799 billion, with holdings reaching 802,810.65 BTC.

[California Regulator Fines Coinhub $675,000] The California Department of Financial Protection and Innovation (DFPI) has fined Bitcoin ATM operator Coinhub $675,000 for violating digital asset laws. The fine includes $105,000 in restitution paid to California consumers who were charged fees and transaction costs exceeding the allowable maximum while using cryptocurrency ATMs.

Coinbase's third quarter performance exceeded expectations, demonstrating strong growth momentum. At the same time, the Bitcoin ETF market is facing volatility and investor sentiment is complex. In addition, a new fund has been launched that focuses on generating returns through cryptocurrency stock volatility, attracting market attention. The sustained volatility of the cryptocurrency market may bring more investment opportunities, but it also comes with higher risks. （Decrypt）

[DEX Labs CEO: MEV Hinders Institutional Adoption of DeFi] DEX Labs CEO Aditya Palepu stated that Maximum Extractable Value (MEV) makes it difficult for financial institutions to adopt decentralized finance (DeFi). MEV refers to the process by which miners or validators rearrange block transactions to extract profits. Due to insufficient transaction privacy, institutions face risks of market manipulation and front-running. DEX Labs is a major contributor to the decentralized crypto derivatives exchange DerivaDEX. Palepu pointed out that similar issues exist in all electronic trading markets, stemming from information asymmetry in transaction data ordering, which harms the interests of retail users.

Coinbase has recently achieved significant profit growth, demonstrating its strong performance in the cryptocurrency market. At the same time, the market performance of IBIT has declined, indicating increased competitive pressure. REX achieves revenue growth through volatility trading strategies, attracting investors' attention. The dynamic changes in the cryptocurrency market highlight the competition and opportunities among different platforms. （Decrypt）