Ripple raises $500 million; Trump praises cryptocurrency.

Headline

▌Ripple Raises $500 Million, Led by Fortress and Citadel Securities

Ripple announced the completion of a $500 million funding round, led by Fortress and Citadel Securities.

▌Trump Praises Cryptocurrency, Says It Alleviates Pressure on the Dollar

US President Trump praised cryptocurrency, saying it alleviated pressure on the dollar.

As of press time, according to CoinGecko data: BTC price is $103,906, a 24-hour change of +2.7%; ETH price is $3,429.35, a 24-hour change of +4.2%; BNB price is $959.64, a 24-hour change of +2.4%. SOL price is $162.71, up 5.2% in the last 24 hours; DOGE price is $0.1676, up 3.1% in the last 24 hours; XRP price is $2.35, up 6.3% in the last 24 hours; TRX price is $0.289, up 1.3% in the last 24 hours. The price of WLFI is $0.1236, a 24-hour change of +9.0%; the price of HYPE is $41.41, a 24-hour change of +5.9%.

Policy

▌State Council Tariff Commission: Cessation of Additional Tariffs on Certain Imported Goods Originating in the United States

The State Council Tariff Commission: In order to implement the consensus reached in the China-US economic and trade consultations, and in accordance with the "Tariff Law of the People's Republic of China," the "Customs Law of the People's Republic of China," the "Foreign Trade Law of the People's Republic of China," and other laws and regulations, as well as the basic principles of international law, with the approval of the State Council, effective from 13:01 on November 10, 2025, the additional tariff measures stipulated in the "Announcement of the State Council Tariff Commission on Additional Tariffs on Certain Imported Goods Originating in the United States" (Announcement No. 2 of 2025 of the Tariff Commission) will be suspended.

Policy

▌State Council Tariff Commission: Cessation of Additional Tariffs on Certain Imported Goods Originating in the United States

▌US Senator Cynthia Lummis Calls on Community Banks to Embrace Bitcoin and Cryptocurrencies

US Senator Cynthia Lummis stated that community banks should actively embrace Bitcoin and cryptocurrencies. She emphasized that 2026 will be a pivotal year for Bitcoin adoption.

▌Hong Kong Securities and Futures Commission (SFC) Introduces Measures to Promote Global Connectivity of Digital Asset Markets

Wong Lok-yan, Director of the Intermediaries Division and Head of the Fintech Group at the Hong Kong Securities and Futures Commission (SFC), stated that Hong Kong has incorporated "connecting to global liquidity" into its digital asset development roadmap, aiming to connect Hong Kong investors to global markets and attract more institutional trading businesses to Hong Kong. The SFC will allow licensed cross-border trading platforms to share global order books with overseas affiliates as a first step towards global connectivity. Currently, it is advancing ecosystem improvement through two consultations, planning to issue licenses for virtual asset custody institutions and exploring the inclusion of investment advisory services and specific asset classes within its regulatory scope.

▌Thailand's Finance Minister: Will Strengthen Regulation of Cryptocurrency, Gold, Foreign Exchange, and Cash Transactions

Thailand's Finance Minister: Will strengthen regulation of cryptocurrency, gold, foreign exchange, and cash transactions.

Blockchain Applications

▌Robinhood's Q3 Net Revenue of $1.27 Billion Exceeds Market Expectations

Blockchain-based brokerage firm Robinhood reported net revenue of $1.27 billion in the third quarter, exceeding analysts' expectations of $1.21 billion; cryptocurrency revenue of $268 million, exceeding analysts' expectations of $287.2 million; adjusted EBITDA of $742 million, exceeding analysts' expectations of $726.9 million; and ARPU (average revenue per user) of $191, exceeding analysts' expectations of $182.

▌OpenAI CFO: OpenAI Not Yet Ready for IPO

OpenAI's CFO stated that OpenAI is not yet ready for an IPO. With a "very healthy" gross margin, OpenAI is expected to break even. OpenAI hopes the federation will support its data center investments.

▌Ripple Partners with Mastercard, WebBank, and Gemini to Pilot Credit Card Payments Using RLUSD

Ripple has partnered with Mastercard, WebBank, and Gemini to pilot credit card payments using the RLUSD stablecoin on Ledger (XRPL).

Humanity Protocol leverages Mastercard's Open Finance technology to enable secure access to financial services via Humanity ID. Cryptocurrency Bitwise CIO: The Era of Allocating Only 1% of Assets to Bitcoin is Over Bitwise Chief Investment Officer Matt Hougan stated that the era of allocating only 1% of assets to Bitcoin is over. Just as post-IPO companies are far less risky than startups, Bitcoin today is far more mature and stable than it was a decade ago, with a wider distribution of ownership. With institutional adoption and ETF trading, its volatility has decreased significantly, marking its evolution into a mainstream asset. Bitcoin's path from a $2.5 trillion market capitalization to gold's $25 trillion market capitalization may be achieved faster than many expect. According to Lookonchain monitoring, yesterday, 10 US Bitcoin ETFs saw a net outflow of 5,057 Bitcoins (worth $519.48 million), and 9 Ethereum ETFs saw a net outflow of 12,408 Ethereums (worth $41.57 million). ▌Matrixport: Bitcoin is approaching oversold territory, but a reversal signal is still needed. Matrixport released a daily chart analysis stating, "From a technical perspective, Bitcoin is approaching oversold territory, which is usually where a rebound occurs. However, for a meaningful recovery to form, a clear reversal day is usually needed, which we haven't seen yet. We previously warned of this pullback based on on-chain signals and market structure pressures. While 'buying the dip' here is quite attractive, a more sustainable reversal may still depend on the next macro-level positive catalyst, which has not yet emerged. Technical indicators like the RSI (Relative Strength Index) may begin to stabilize and turn upwards, but further clearing of spot selling may still be needed before the market establishes a solid bottom." ▌Yi Lihua: ETH fundamentals are sound; gradual bottom-fishing is the best strategy. Liquid Capital (formerly LD Capital) founder Yi Lihua wrote that with the US government nearing reopening, the fundamentals of ETH are sound. When others are panicking, one should be greedy; gradually buying on dips is the best strategy. Metaplanet raised $100 million by pledging its Bitcoin assets to increase its Bitcoin holdings and expand its revenue-generating business. Metaplanet raised $100 million by pledging its Bitcoin assets. The funds will primarily be used to purchase more Bitcoin, expand its revenue-generating business, and repurchase shares. A portion of the funds will also be used for its revenue-generating business, which will create and sell cash-backed Bitcoin options to generate stable returns while holding Bitcoin. As of October 31, the company held 30,823 Bitcoins (approximately $3.517 billion), and this loan represents about 3% of that holding. BlackRock Deposits 34,777 ETH, Worth $115 Million, into Coinbase According to OnchainLens (@OnchainLens), BlackRock has deposited 34,777 ETH, worth $114.97 million, into Coinbase. Bloomberg Analyst: Even with a BTC Price Correction, BlackRock's IBIT Annualized Return Remains Nearly 80% Bloomberg Senior ETF Analyst Eric Balchunas stated that even with a price correction, Bitcoin's price has still risen by as much as 300% since BlackRock submitted its Bitcoin ETF (IBIT) application 30 months ago, equivalent to an annualized return of nearly 80%, so the market need not worry.

▌Solana Company Approves $100 Million Stock Buyback Program

Nasdaq-listed Solana Company announced that its board of directors has approved a stock buyback program to repurchase $100 million of the company's outstanding common stock to further support the company's acquisition and holding of SOL.

▌Japanese Listed Company Remixpoint Increases Holdings by 29.46 Bitcoins, Total Holdings Reach 1,411.29 BTC

According to market news, Japanese listed company Remixpoint (stock code: 3825.T) has purchased 29.46 new Bitcoins, bringing its total Bitcoin holdings to 1,411.29 BTC.

▌Forward Industries' SOL token holdings currently show a paper loss of $382 million

According to DeFiLlama data, US-listed company Forward Industries (NASDAQ: FORD) currently holds $1.2 billion worth of Solana (SOL) tokens, recording a paper loss of $382 million. The company purchased 6.82 million SOL tokens at an average price of $232, with a total purchase cost of $1.583 billion, and is currently showing a paper loss of 24.13%.

▌Binance Wallet zkPass First Booster Event Launched, Participation Threshold 61 Alpha Points

Binance Wallet announced the launch of the first Booster event for zkPass, with a share of 30 million ZKP tokens airdrop rewards. The participation threshold is 61 or more Alpha points. In the first phase, users can share 10 million ZKP tokens in the airdrop reward.

▌Binance Alpha to Launch Aria (ARIAIP) on November 7th

According to the official announcement, Binance Alpha will launch Aria (ARIAIP) on November 7th. Eligible users can go to the Alpha Events page after trading opens to claim the airdrop using Binance Alpha points.

**Important Economic Developments** The US Supreme Court began oral arguments on Wednesday regarding the legality of President Trump's massive retaliatory tariffs. In addition to the liberal justices, several conservative justices also questioned the legality of Trump's tariffs. Chief Justice John Roberts stated that Trump's tariffs are taxes on Americans, which has always been a core power of Congress. Of the three justices appointed by Trump during his presidency, Neil Gorsuch and Amy Coney Barrett also raised challenging questions and explored the arguments of those opposed to the tariffs. The Supreme Court has a conservative majority, 6-3. The Supreme Court is expected to announce its decision in December. The latest prediction from Polymarket gives Trump a 27% chance of winning, down from 40% before the debate, and briefly dipped to a new low of 18% during the hearings.

▌Federal Reserve Governor Milan: Fed Policy Still Too Restrictive, Current Policy Risks

Federal Reserve Governor Milan stated that the ADP data was a welcome surprise; the employment market trends before the government shutdown appear to still exist; employment market data suggests that interest rates may be lower than current levels; Fed policy is still too restrictive, and current policy carries risks. He also stated that he believes continuing to cut interest rates remains reasonable.

▌Trump: US Government Shutdown Is Affecting the Stock Market, Stock Market Will Reach New Highs

US President Trump stated that the government shutdown is affecting the stock market. Over the past nine months, the stock market has reached multiple all-time highs. The stock market will reach new highs.

▌US ADP Employment Increases by 42,000 in October, Exceeding Expectations

US ADP employment increased by 42,000 in October, exceeding the expected increase of 30,000 and the previous month's decrease of 32,000.

▌62.5% Probability of a 25 Basis Point Rate Cut by the Fed in December

According to CME's "FedWatch": the probability of the Fed cutting interest rates by 25 basis points in December is 62.5%, and the probability of keeping rates unchanged is 37.5%. The probability of the Fed cumulatively cutting interest rates by 25 basis points by January next year is 54.8%, the probability of keeping rates unchanged is 25.9%, and the probability of cumulatively cutting interest rates by 50 basis points is 19.4%.

Golden Encyclopedia

▌Understanding Ripple Labs' RLUSD Stablecoin

RLUSD is a stablecoin developed by Ripple Labs, the organization behind the XRP cryptocurrency. RLUSD, or Ripple Labs USD, aims to provide a stable digital currency for trading and transactions. As a stablecoin pegged to the US dollar, 1 RLUSD is equal to 1 US dollar. Each RLUSD maintains a 1:1 peg. These collateralized assets are either US dollar deposits or cash equivalents. On December 10, 2024, RLUSD received regulatory approval. A week later, on December 17, RLUSD was officially launched and listed on cryptocurrency exchanges.

RLUSD works similarly to other major US dollar-pegged stablecoins, allowing individuals and institutions to deposit capital assets such as US dollars to mint each new coin.

RLUSD works similarly to other major US dollar-pegged stablecoins, allowing individuals and institutions to deposit capital assets such as US dollars to mint each new coin.

Cryptocurrencies can be traded on the Ethereum and XRP Ledger blockchains. Ripple's new stablecoin's technology and concept are not inherently new. It is a direct competitor to established players like USDT and USDC. Collateral backing ensures price stability and avoids the volatility issues present in some other cryptocurrencies. This reliability allows businesses and traders to trade away from unpredictable price fluctuations. RLUSD is available on the XRP Ledger and Ethereum blockchains. Ripple has committed to stablecoin audits and transparency, and regularly conducts third-party audits of its collateral reserves alongside monthly financial reports. However, details regarding who will perform the audit process are yet to be determined.