Evening Wrap: Global Banks Commit $270M for Stablecoin Venture

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Global Banks Launch $270M Joint Dollar Stablecoin Venture

Lenders including Goldman Sachs, Citi, and Santander committed $270 million to fund Project Faro, targeting an initial US dollar stablecoin launch in the first half of 2027 to compete with Tether and Circle .

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FinCEN Moves to Cut MEXC Global from US Financial System

The US Treasury alleged MEXC facilitated $16.7 billion in illicit flows, prompting OKX to warn users against direct transfers ahead of an impending domestic ban .

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CertiK Urges Hard Hot-Wallet Caps After $6.3B Binance Breach

Cybersecurity firm CertiK advised exchanges to implement absolute dollar limits on hot wallets, arguing rigid cold-storage ratios fail to manage exposure during massive exploits .

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Polymarket Annualized Revenue Reaches $1.8B

The prediction market's October domestic trading volume reached $14.5 billion, while the CFTC continues a broad inquiry into its advertising practices and settlement compliance .

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Trump Media Reports $409.7M Q3 Net Income on Bitcoin Markups

The company posted a $378.1 million gain on digital assets, masking a $23.6 million operating loss, and held 15,649 $BTC at the quarter's end .

The numbers

Bitcoin traded at $73,660, down 1.5% over 24 hours, while the total market capitalization fell 2.8% to $2.44 trillion amid a Fear and Greed index reading of 32.

What to watch

• The exact publication date in the Federal Register for the FinCEN order, which triggers a 30-day countdown for the US ban on processing…
• The conclusion or formal findings of the CFTC's compliance probe regarding Polymarket's historical US user access and promotional campaigns.

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