Evening Wrap ยท October 27, 2026
Treasury Secretary Scott Bessent positioned digital assets as a key defense for U.S. dollar dominance as stablecoin volume shifts and institutional custody expansions reshape the market.
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Treasury Secretary Framed Crypto as Vital to Dollar Dominance
Scott Bessent said U.S. digital asset supremacy is crucial for preserving the dollar's reserve status, signaling new agency-level rules following the Clarity Act's legislative failure .
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USDC Captured 56 Percent of Euro Stablecoin Trading Volume
Circle's token overtook Tether in euro-denominated trading as regional exchange restrictions squeezed non-compliant stablecoins, according to Kaiko data .
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Galaxy Digital Posted $323 Million Q3 Net Income
The company reversed a prior-quarter loss while expanding its high-performance compute operations to deliver 133 megawatts to CoreWeave .
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BNY and Ripple Expanded Custody Support for XRP and RLUSD
The institutional bank integrated the assets into its digital custody platform and is exploring onchain supply chain financing with C2FO .
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Polymarket Referred Midterm Election Probes to CFTC
The prediction market's surveillance unit referred at least two investigations to federal regulators after probing dozens of suspicious bets .
The numbers
Bitcoin climbed 1.1 percent to $80,678, while Ether gained 1.5 percent to $2,341 alongside a total cryptocurrency market capitalization of $2.66 trillion.
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