🐶📰Weekend Update

BTC $75,886 (-0.1%) | ETH $2,238 (-0.3%) | SOL $90 (-0.5%)

Welcome to the Daily Bone Weekend Update where we recap the top stories from the week. Be sure to check out our daily newsletter to get all of your news hot off the press each and every weekday!

Headlines

• Democrats seized control of both the House and Senate in the midterms

• The Nasdaq 100 plunged up to 5% as the S&P 500 hit its lowest level since July

• Altcoins shed roughly $200B in market cap as 70% of Binance-listed alts trade below their 200-day moving average — Bitcoin ETFs lose $1.28B last week in their worst week since June

• Binance CFO Kaiser Ng exits after more than five years

• The US Secret Service froze a "significant portion" of funds from the $6B+ Binance theft

• Former FBI agent Patrick Yaroch pleaded guilty to stealing $2.5M in crypto

TradFi

• Apple overtook Nvidia to reclaim the title of world's most valuable company

• AMD sank 16% and Tesla fell 11% in a broad tech selloff

• Jack Dorsey's Block settled its DOJ money laundering case for $764M, as Q3 revenue of $6.72B beat estimates

• The CFTC approved the first equity perpetual futures for trading on US exchanges

Crypto

• China's central bank halted Solana's Shanghai events and ads, and opened an investigation

• ZachXBT raised the EU entity hack estimate to $133M after tracing $27M more in CEX withdrawals

• Morgan Stanley downgraded Coinbase to underweight and cut its price target to $120

• Binance said hackers used a fake job interview to compromise an employee and steal crypto

• Crypto's $64M+ campaign spend failed to stop Sherrod Brown's Senate return

AI

• The Hermes mobile app beta filled to capacity on iOS and Android

• Google rolled out Gemini Omni 1.2 Flash, generating 15-second AI video at $0.07 a second

• Investors doubted Anthropic's IPO could hit a $1.5T valuation, the WSJ reported

• SemiAnalysis released its GDPx agentic benchmark, where the top model scored 12% on economically viable tasks

• OpenAI's unreleased cyber model patched 948 Linux kernel vulnerabilities in one run

• Oracle cancelled its $7B AI chip leasing deal with Tencent after US pressure