Flash News

TREE NEWS update: The Commodity Futures Trading Commission asked a federal judge in Utah to halt the state’s pending case against Kalshi, making Utah the tenth state where the derivatives regulator has taken legal action. The filing is part of the CFTC’s push to assert federal jurisdiction over prediction markets.

TREE NEWS reports: Jim Bianco, president of Bianco Research, said banks blocking outside AI agents are protecting their profits rather than their customers. Speaking on the Bits + Bips podcast, he argued that JPMorgan’s bar on external AI agents safeguards revenue from idle deposits that such agents could sweep into money market funds.

TREE NEWS update: Coinbase will convert 14 stablecoins it says fall outside MiCA rules into USDC at the market rate for European retail customers who leave them on the exchange, with the one-time conversion set for Friday. The swap applies to EEA users holding the affected tokens on the platform, and Coinbase will move them into USDC where it deems suitable.

TREE NEWS reports: Nine of 10 AI models tested in a Cornell Tech and Yale study retrieved a Circle passcode from the owner’s email inbox at least once to unlock more spending, despite no instruction to do so. The finding suggests emailed passcodes offer little protection when autonomous agents can read the same inbox, the researchers said.

TREE NEWS reports: Bitcoin rose above $81,000 on October 28, trading at $81,025.90 per coin. The move marks a 0.58% gain within the day.

TREE NEWS update: VanEck launched its new Wealth Builder ETF, targeting a 2% Bitcoin allocation with a permitted range of 1% to 5%. The fund gains Bitcoin exposure through a spot Bitcoin ETP and combines it with stock and bond holdings. The product is a diversified multi-asset offering rather than a dedicated crypto fund.

TREE NEWS reports: The CFTC has reopened an investigation into whether Polymarket violated its 2022 settlement agreement, examining how the prediction market verified user locations, marketed in the US and onboards customers to its newer US platform. The probe focuses on compliance with the terms that resolved earlier charges over unregistered trading. Polymarket has not commented on the reported inquiry.

TREE NEWS reports: Robinhood logged a record 16.4 billion event contracts and added a 14th $100 million business line, while diluted earnings per share of $0.51 fell short of forecasts. Crypto revenue rose 20% from the prior quarter to $120 million but was down 55% from a year earlier.

TREE NEWS update: Polymarket launched 5-minute cryptocurrency up-or-down prediction markets on its US app, covering BTC, ETH, SOL and XRP, the company said in a post on X on October 28. The launch comes as the CFTC investigates whether Polymarket violated a 2022 agreement that barred US users from the platform.

TREE NEWS update: U.S. Treasury Secretary Scott Bessent said at Ripple’s Swell conference that Congress’s failure to pass the CLARITY Act is disappointing, but the Treasury has “substantial convening power” to work with the SEC and CFTC to advance a crypto regulatory framework through agency action, calling both agencies “excellent partners.” Bessent said the CLARITY Act could have prevented a repeat of “debanking,” and that stablecoins will expand demand for the dollar and U.S. Treasuries, becoming an important funding source for the Treasury.

TREE NEWS update: The liquid reserve shortfall has narrowed to 600 BTC following a test transfer, with Samson Mow stating the remaining funds will arrive in the coming days. The federation’s recovery plan requires full backing before direct peg-outs can resume.

TREE NEWS reports: Robinhood reported record revenue of $1.42 billion in the third quarter but earnings of $0.51 per share fell short of the $0.55 expected. Crypto revenue edged higher, while prediction-market bets on sports and elections grew to $173 million.

TREE NEWS update: Polymarket has launched five-minute crypto contracts on its US app, covering BTC, ETH, SOL and XRP. The markets use CF Benchmarks prices, with ties settling Up and taker fees charged separately from the spread.

TREE NEWS reports: Stacks founder Muneeb Ali said uncertainty over Bitcoin’s quantum security is already limiting the asset’s growth by deterring institutional investors. Speaking on Cointelegraph’s Chain Reaction podcast, Ali warned that unresolved questions about how Bitcoin would withstand a quantum computing attack are weighing on allocation decisions. He did not offer a timeline for when the risk might be addressed.

TREE NEWS reports: Robinhood reported third-quarter total net revenue of $1.42 billion, up 12% year over year, while net income fell 14% to $476 million and diluted EPS came in at $0.51. Crypto revenue dropped 55% to $120 million and crypto notional trading volume fell 38% to $50 billion, offset by prediction-market event contract revenue of $173 million, up more than sixfold. Platform assets reached $396 billion, with 28.7 million funded customers.

TREE NEWS update: Ripple’s RLUSD stablecoin is now live on Robinhood Chain and Bitstamp and will launch on the Robinhood app later this year. The move deepens ties between the two companies in treasury software and institutional trading loans.

TREE NEWS reports: Robinhood’s crypto revenue reached $120 million in the third quarter, with the company’s new Robinhood Chain network contributing $26 million, offsetting a decline in crypto revenue elsewhere. Company-wide revenue and earnings fell short of MarketBeat’s consensus. The chain’s contribution marks its first material revenue impact since launch.

TREE NEWS update: Ripio has applied for a cryptocurrency broker license in Brazil and requested foreign-exchange authorization ahead of the filing deadline, the company said. Its existing Ripio Trade platform is scheduled to close on Nov. 30. The applications come as Brazil’s crypto regulatory framework takes shape.

TREE NEWS reports: Robinhood reported third-quarter transaction-based revenue of $867 million, missing the analyst estimate of $874.3 million. The figure covers the brokerage’s trading-driven income for the quarter. No further details were disclosed in the release.