📰 Web3 Morning News Brief | 10.6
━━━━━━━━━━━━━
🟥 Regulation & Macro
▪️ FinCEN officially withdrew two proposed rules on crypto mixers and monitoring non-custodial wallets. Seen as the Trump administration's deregulatory agenda taking shape, the move is a marginal positive for self-custody and privacy-focused ecosystems.
▪️ Crypto PAC Fairshake announced its list of midterm election endorsements, covering 32 members of the House of Representatives, with total spending potentially exceeding $100 million. Although the CLARITY Act remains stalled in the Senate, the industry's political capital continues to build.
🟩 Projects & Ecosystems
▪️ Polymarket released Protocol V2, rebuilding its underlying smart contract system to address technical debt. The team says new markets will switch to V2 starting November 2, as the prediction market sector continues to heat up.
▪️ Bitmine added around $41 million worth of ETH, bringing its total holdings to over 6 million ETH and putting it just one step away from its “5% alchemy” target. Public-company-style ETH accumulation continues to ramp up.
🟦 Capital & Markets
▪️ $BTC tested $87,000 twice but failed to break through, leaving the late-September swing high intact. CME FedWatch shows a 77.3% probability that rates will remain unchanged in October. Expectations for macro liquidity remain relatively accommodative, though short-term selling pressure persists.
▪️ Public companies continue to accumulate crypto: Morgan Stanley added more BTC this morning, bringing its total holdings to over $900 million; Strive spent $169 million to buy 2,000 BTC in a single week; and DFDV added another 26,200 SOL. Institutional allocation buying continues to advance.
━━━━━━━━━━━━━
💡 Market Outlook
1️⃣ In the short term, BTC is stuck at the $87,000 level, having tested it twice on the daily chart without breaking through. If it fails to hold above this level with sustained volume, it may continue to trade sideways or pull back to seek support. Caution is advised when using leverage to chase prices higher. #Bitcoin
2️⃣ FinCEN's withdrawal of the rules on mixers and non-custodial wallets is a short-term positive for privacy coins and self-custody tools. However, watch for whether similar proposals resurface in Congress. Over the medium to long term, the likely approach will still be to “loosen and tighten” in turns.
3️⃣ Polymarket V2, together with Stripe's stablecoin card expanding to over 100 countries, is fueling continued growth in the narratives around prediction markets and stablecoin infrastructure. Keep an eye on sentiment spillover to related ecosystem tokens, while managing position sizes in small-cap newcomers.
Markets involve risk. Invest with caution. This article does not constitute investment advice.
━━━━━━━━━━━━━
🟥 Regulation & Macro
▪️ FinCEN officially withdrew two proposed rules on crypto mixers and monitoring non-custodial wallets. Seen as the Trump administration's deregulatory agenda taking shape, the move is a marginal positive for self-custody and privacy-focused ecosystems.
▪️ Crypto PAC Fairshake announced its list of midterm election endorsements, covering 32 members of the House of Representatives, with total spending potentially exceeding $100 million. Although the CLARITY Act remains stalled in the Senate, the industry's political capital continues to build.
🟩 Projects & Ecosystems
▪️ Polymarket released Protocol V2, rebuilding its underlying smart contract system to address technical debt. The team says new markets will switch to V2 starting November 2, as the prediction market sector continues to heat up.
▪️ Bitmine added around $41 million worth of ETH, bringing its total holdings to over 6 million ETH and putting it just one step away from its “5% alchemy” target. Public-company-style ETH accumulation continues to ramp up.
🟦 Capital & Markets
▪️ $BTC tested $87,000 twice but failed to break through, leaving the late-September swing high intact. CME FedWatch shows a 77.3% probability that rates will remain unchanged in October. Expectations for macro liquidity remain relatively accommodative, though short-term selling pressure persists.
▪️ Public companies continue to accumulate crypto: Morgan Stanley added more BTC this morning, bringing its total holdings to over $900 million; Strive spent $169 million to buy 2,000 BTC in a single week; and DFDV added another 26,200 SOL. Institutional allocation buying continues to advance.
━━━━━━━━━━━━━
💡 Market Outlook
1️⃣ In the short term, BTC is stuck at the $87,000 level, having tested it twice on the daily chart without breaking through. If it fails to hold above this level with sustained volume, it may continue to trade sideways or pull back to seek support. Caution is advised when using leverage to chase prices higher. #Bitcoin
2️⃣ FinCEN's withdrawal of the rules on mixers and non-custodial wallets is a short-term positive for privacy coins and self-custody tools. However, watch for whether similar proposals resurface in Congress. Over the medium to long term, the likely approach will still be to “loosen and tighten” in turns.
3️⃣ Polymarket V2, together with Stripe's stablecoin card expanding to over 100 countries, is fueling continued growth in the narratives around prediction markets and stablecoin infrastructure. Keep an eye on sentiment spillover to related ecosystem tokens, while managing position sizes in small-cap newcomers.
Markets involve risk. Invest with caution. This article does not constitute investment advice.