Leading U.S. banking trade groups have urged the Office of the Comptroller of the Currency to deny national trust-bank charter applications from four major crypto firms. The Bank Policy Institute and Independent Community Bankers of America argue the charters would grant cryptocurrency platforms federal legitimacy without full banking supervision. Traditional banks contend the arrangement would create regulatory arbitrage and undermine existing oversight standards.

Robinhood reported Q3 2025 revenue of $1.27 billion on November 5, doubling year-over-year and beating Wall Street's $1.19 billion estimate. Crypto trading revenue jumped over 300% to $268 million. Earnings per share reached 61 cents, up from 17 cents in Q3 2024, while net income climbed 271% to $556 million.

The Monetary Authority of Singapore released its annual Financial Stability Review on November 5, 2025, flagging elevated valuations in technology and artificial intelligence equity segments. The central bank warned that fading optimism about AI's profit potential could trigger sharp equity market corrections and increased defaults in private credit markets. The assessment follows a semiconductor sector selloff that erased approximately $500 billion in market value this week.

Bitcoin has dropped more than 20% from its recent peak, bringing the price close to $89,613—the average cost basis for U.S. spot Bitcoin ETF holders. Many retail investors who entered these products earlier this year now face potential losses if the cryptocurrency falls below this level. Weak market participation and lingering caution from October's liquidation event have contributed to the broader downturn.

Dominari Holdings and Yorkville Advisors have become central financial partners in Trump family cryptocurrency operations. Yorkville helped Trump Media & Technology Group raise $2.5 billion for bitcoin purchases and committed $5 billion in credit facilities. Eric Trump and Donald Trump Jr. joined Dominari's advisory board in February and together hold about 12% of the company's equity.

Senior U.S. officials blocked Nvidia from exporting advanced Blackwell AI chips to China on October 28, two days before President Trump's October 30 meeting with President Xi Jinping in Busan, South Korea. Secretary of State Marco Rubio and Commerce Secretary Howard Lutnick advised that the sale would strengthen China's AI infrastructure and harm U.S. strategic interests. Trump subsequently removed the chip issue from the summit agenda.

Coinbase is in late-stage acquisition talks with London-based stablecoin infrastructure firm BVNK, with the deal valued between $1.5 billion and $2.5 billion, sources familiar with the discussions said. The transaction remains under due diligence and could finalize late this year or early next year. Terms are not yet finalized and the deal could still change or fall apart.

Coinbase is drawing increased attention from long-term investors as major financial institutions integrate its backend infrastructure to offer cryptocurrency services. The company reported third-quarter revenue of $1.87 billion, exceeding analyst expectations of $1.8 billion and driving a 9% rally in COIN stock. Analysts highlight partnerships with J.P. Morgan, Citi, and PNC as evidence that Coinbase is becoming foundational infrastructure for traditional banks entering crypto markets.

MicroStrategy's valuation premium relative to its Bitcoin treasury contracted to approximately 1.3× its market-adjusted net asset value, despite reporting a $2.8 billion net income beat for the third quarter, according to Bloomberg data. The multiple declined from earlier periods when the premium exceeded 2×, reflecting diminished investor enthusiasm for the balance-sheet Bitcoin strategy. At least three analysts lowered price targets while maintaining buy ratings, citing concerns over reduced momentum and slower capital issuance heading into the fourth quarter.