Core Insights - Gemini Space Station Inc. reported a larger-than-expected loss in its first earnings report since going public, with Q3 revenue of $50.6 million exceeding analyst expectations of $46.2 million, but a loss per share of $6.67 compared to the expected $3.24 [1] - Following the earnings release, Gemini's stock price fell over 12% in after-hours trading and was down 7% at the time of reporting, attributed to increased expenses from IPO costs and marketing efforts [1] - The company aims to develop a "super app" that offers services beyond cryptocurrency trading, including plans to launch a regulated prediction market for betting on sports and political events [1][2] Financial Performance - Gemini's revenue doubled year-over-year, with approximately half of its income coming from cryptocurrency trading fees, alongside earnings from credit card projects and crypto staking [2] - Despite the growth, Gemini's revenue is only about 2% of its main competitor Coinbase's recent quarterly revenue, although its growth rate outpaces Coinbase's 55% year-over-year increase [2] - Analysts predict that Gemini may not achieve adjusted profitability until 2028, as its expense growth currently exceeds revenue growth [2] Strategic Developments - The company has begun offering blockchain tokenized U.S. stock trading services and is expanding its credit card business, which has become a significant driver for new user growth [3] - The Winklevoss brothers have increased their political engagement, supporting Donald Trump and donating $21 million to a political action committee that backs the Republican agenda on cryptocurrency [3]

According to The Wall Street Journal, Coinbase, the largest U.S. cryptocurrency exchange, has launched a new platform that allows individual investors to purchase tokens before their official listings. Blockchain startup Monad will be the first project to sell its tokens on the platform.https://t.co/Vl42H6ZktD ...

Company Performance - Robinhood's third quarter results showed a remarkable increase, with sales up 100% and EPS up 259%, attributed to the leadership of co-founder and CEO Vlad Tenev [2] - The resurgence of Robinhood is linked to stock indexes reaching record highs, which has also benefited rival Coinbase during the crypto boom [3] Economic Context - Despite the boom in asset markets, not all households and non-financial services companies are experiencing growth; Chipotle's CEO noted a decline in purchases among young consumers [4] - Costco reported that uncertainties regarding SNAP benefits and the government shutdown are negatively impacting shopper behavior [4] Employment Trends - Job cuts in October reached 153,074, marking a 183% increase from September and the highest level for any October since 2003, indicating a troubling trend in employment [5] - The current year is on track to be the worst for layoffs since 2009, with insufficient hiring across companies contributing to this situation [5]

ICYMI: OKX now has all engines set to go in the USA. https://t.co/rWRrpbnYC3 ...

Ireland's central bank fined an Irish subsidiary of cryptocurrency exchange Coinbase Global 21.5 million euros ($25 million) on Thursday for breaching anti-money laundering and counter-terrorist trans... ...

Core Insights - Bitget has fully integrated with the Morph Chain layer-2 blockchain, allowing users to trade assets directly from their Bitget wallets using USDT without swaps or bridging [1] - Morph is the first network to achieve full integration with Bitget Onchain, with Bitget transferring 440 million BGB tokens to the Morph Foundation, establishing BGB as the backbone token for the network [2] - The integration positions Morph as the native onchain home for the BGB token, which serves as both the gas and governance token [3] Expansion of Services - Bitget has launched an institutional financing program offering zero-interest loans up to two million USDT for qualified participants, running from Nov. 1, 2025, to Jan. 31, 2026 [4] - A major upgrade to Bitget Onchain was announced in September, enabling users to trade, stake, and manage millions of on-chain tokens directly from their Bitget spot account, with support for Ethereum, Solana, BSC, and Base [5]

🛡️Transparency. Accountability. Trust.Bybit’s 27th Proof of Reserves confirms over 100% coverage for all major assets.#Bybit #CryptoArk ...

Progress isn’t always visible in days,noticeable in weeks,but undeniable in years.Keep walking. 🌒 https://t.co/dEvDGWVxDCPoloniex Exchange (@Poloniex):https://t.co/WxbcsyS4iA ...

According to Bloomberg, Faruk Fatih Ozer, founder and former CEO of the defunct Turkish cryptocurrency exchange Thodex, has been found dead in his prison cell. Authorities are investigating the possibility of suicide. Ozer was sentenced to 11,196 years in prison in 2023 for fraud and other crimes. Thodex was founded in 2017 and collapsed in 2021, after which Ozer fled to Albania before being extradited back to Turkey. https://t.co/XcxK2Ftfyh ...

Industry News - The former chief executive of collapsed cryptocurrency exchange Thodex, Faruk Fatih Ozer, has reportedly died in prison [1] Legal & Regulatory - Faruk Fatih Ozer was found dead in his prison cell in Tekirdag, Turkey [1]