BizwavemediaPersonal Finance and Crypto Updates

Share this article

Coinbase CEO Brian Armstrong surprised listeners during the company’s third-quarter earnings call on Thursday after mentioning nearly every keyword that prediction market traders had wagered he would say.

“I was a little distracted because I was tracking the predictions market about what Coinbase will say in their next earnings call,” said Armstrong as he wrapped up Coinbase’s earnings call, “and I just want to, you know, add here, the words Bitcoin, Ethereum, blockchain, staking, and web3, to make sure we get those in before the end of the call.”

The moment inadvertently handed a win to Kalshi and Polymarket bettors.

lol this was fun – happened spontaneously when someone on our team dropped a link in the chat https://t.co/tQiV3B9jUj

— Brian Armstrong (@brian_armstrong) October 31, 2025

Coinbase reported steady growth in Q3 with a 37% increase in transaction revenues reaching $1 billion, driven by a rebound in trading volumes, which touched $295 billion. Total revenue for the quarter escalated to $1.9 billion with a net income of $433 million.

Armstrong confirmed that Coinbase had added 2,772 BTC valued at over $300 million during the quarter. With 14,548 BTC currently on its balance sheet, the company ranks in the top ten public companies in terms of Bitcoin holdings.

Share this article

Jump Crypto, a crypto trading firm focused on market making and building high-performance infrastructure for the Solana ecosystem, appears to have rotated $205 million in SOL to $265 million in Bitcoin through Galaxy Digital today, according to Lookonchain.

The transaction represents a significant shift from Solana’s native token to Bitcoin for the market maker. Galaxy Digital, a digital asset management firm, facilitated the exchange between the two major crypto assets.

Jump Crypto has been developing Firedancer, a validator client for Solana, to support high-throughput market making activities that require robust network performance. The firm has maintained close ties to the Solana ecosystem through its infrastructure development work.

Galaxy Digital has partnered with Superstate to tokenize its stock shares on the Solana blockchain, enabling on-chain holding and transfers for institutional investors.

Share this article

JPMorgan CEO Jamie Dimon has acknowledged that blockchains and stablecoins are real technologies that will help deliver more efficient transactions and better customer experiences.

“Crypto is real, if you mean blockchains, stablecoins, you have a JPMorgan deposit coin, you can move stuff. Smart contracts are real. All that stuff is real. It will be used by all of us to facilitate, you know, better transactions and customer service,” said Dimon, speaking at the 9th edition of the Future Investment Initiative (FII9) in Riyadh, Saudi Arabia, this week.

JPMorgan plans to allow institutional clients to use Bitcoin as collateral for fiat loans, marking a practical shift toward mainstream integration of digital assets into traditional banking services.

The move positions JPMorgan among traditional banks embracing cryptocurrencies for real-world financial applications, signaling growing institutional recognition of digital assets’ role in modern finance beyond its early alleged associations with illicit activities.

Hyperliquid, a decentralized exchange platform, recorded its largest single liquidation order today at $21.4 million in BTC-USD trading.

The liquidation highlights the platform’s growing role in high-volume perpetual futures trading during periods of cryptocurrency market volatility. Bitcoin price movements continue to trigger significant position closures across leveraged trading platforms.

Recent market activity shows Hyperliquid handling increasingly large-scale liquidations during market downturns, establishing itself as a major venue for perpetual trading alongside traditional centralized exchanges.

The cryptocurrency sector has experienced aggressive liquidation cascades, particularly affecting overleveraged positions.

The crypto market faced $300 million in liquidations in the past hour as Federal Reserve Chair Jerome Powell delivered remarks during the Federal Open Market Committee speech, triggering immediate volatility across digital assets.

The liquidations reflect heightened market sensitivity to central bank communications, as traders respond rapidly to policy signals from the Federal Reserve’s policy-making body.

The Fed on Wednesday decided to reduce the federal funds rate by 25 basis points to between 4% and 3.75%. The rate cut, decided by a 10-2 vote, aims to address slow job gains and a slight increase in the unemployment rate.

Lower interest rates could drive investments towards cryptocurrencies and other alternative assets. However, the extended US government shutdown could still complicate the crypto outlook by causing regulatory delays and increasing investor uncertainty.

Over $107 million in long positions was wiped out of the crypto markets within four hours as leveraged traders faced forced closures amid turbulent market conditions ahead of the Federal Reserve’s upcoming policy meeting.

Uncertainty ahead of the FOMC announcement sent markets swinging, with bullish positions betting on asset gains becoming the primary targets for forced sales during the volatile downturn.

Recent market drops have been viewed as deliberate moves to clear out high-leverage positions before a key interest rate decision, contributing to increased unpredictability around Federal Reserve policy updates.

Bitwise Asset Management, a crypto asset manager specializing in index funds and exchange-traded products for the digital asset market, recorded $69.5 million in first-day inflows for its spot Solana ETF today.

The Bitwise Solana Staking ETF (BSOL) was introduced as the first US exchange-traded product offering full direct exposure to spot SOL while targeting complete staking of its holdings through in-house solutions powered by Helius technology.

Bitwise collaborated with Helius to enhance the staking capabilities of BSOL, emphasizing high-performance technology to support onchain operations. The ETF competes with SSK, another spot Solana ETF that debuted earlier as an investment vehicle for Solana exposure.

BSOL’s debut represents a significant moment for Solana, a high-performance blockchain network known for its staking rewards mechanism and growing ecosystem adoption.