The U.S. Treasury Department is concerned about the growth of the stablecoin market and believes that stablecoins issued by the private sector should eventually be replaced by state-backed central bank digital currencies (CBDCs), according to a report released by the Treasury Department on Wednesday. The report, written by the Treasury Department's Debt Management Office, said: "Similar to the way private sector-issued 'wildcat' currencies were replaced by government-backed central currencies in the late 19th century, central bank digital currencies (CBDCs) may need to replace stablecoins as the primary form of digital currency supporting tokenized transactions."

U.S. stock broker Robinhood released its third-quarter results, which showed that despite a slowdown in trading volume throughout the year, retail traders' interest in cryptocurrencies remained strong. Robinhood's cryptocurrency trading volume in the third quarter increased 112% year-on-year to $14.4 billion (but decreased from the previous two quarters), and its stock trading volume increased 65% to $286.2 billion.

On Wednesday, crypto exchange Coinbase (COIN) released third-quarter earnings and revenue that fell short of Wall Street analysts' expectations, causing its stock price to fall sharply in after-hours trading. The exchange said its total revenue in the third quarter was $1.2 billion, lower than the average expectation of $1.26 billion. At the same time, earnings per share were $0.28, also lower than analysts' expectations of $0.45. Coinbase's adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) in the third quarter were $449 million, which also fell short of expectations of $469.2 million.

Crypto asset management company Canary Capital has followed the example of VanEck and 21Shares and filed an application with the U.S. Securities and Exchange Commission (SEC) for a spot Solana ETF. Canary explained in its S-1 registration statement filed on October 30 that the spot Solana ETF will track the price of SOL through the Chicago Mercantile Exchange (CME)'s CF Solana Index. Canary's proposed spot Solana ETF will enable investors to access the Solana market through traditional brokerage accounts without facing the possible barriers to entry or risks of directly holding SOL. Canary did not disclose who the custodian of the spot SOL ETF is, nor did it specify under which stock symbol the fund will be listed.

Crypto exchange Kraken has announced layoffs due to recent structural changes, affecting 15% of its employees, or about 400 positions. In addition, Arjun Sethi will serve as co-CEO alongside Dave Ripley.

MicroStrategy announced its third-quarter 2024 financial results. As of the end of the third quarter, the company held 252,220 BTC, with a BTC return of 17.8% year-to-date. The company also announced a $42 billion capital plan. The announcement stated that under the leadership of Executive Chairman Michael Saylor, the company will raise $21 billion in equity and issue $21 billion in bonds in the next three years, and use additional capital to purchase more Bitcoin as a financial reserve asset in order to achieve higher BTC returns.

PANews reported on October 30 that according to on-chain analyst Ember’s monitoring, the Ethereum Foundation sold ETH again after a week. Half an hour ago, the Foundation used the address 0xd77…1f4, which sells small amounts and high frequencies, to sell 100 ETH at $2,708 each in exchange for 270,800 DAI. Subsequently, this DAI was transferred to the Foundation’s funding donation address 0x9ee…13d.

Sapien is led by Base co-founder Rowan Stone and Polymath founder Trevor Koverko, and incentivizes global data providers through USDC stablecoins or reward points. Sapien currently provides data support for 17 large companies including Alibaba and Baidu, and has attracted more than 100,000 AI data labelers to join.

FDUSD has previously supported Ethereum, BNB Chain, and Sui blockchains. This integration leverages Solana’s high-performance blockchain to enable FDUSD transactions to be completed within seconds, making it suitable for real-time payments and settlements.

Plus and Team users will get the feature today, Enterprise and Edu users will get access within a week, and free users will gradually get the feature over the next month.