☕️ Global Banks Commit $270M for Stablecoin Venture Global banks launched a $270 million joint dollar stablecoin venture, while the US Treasury moved to sever MEXC Global from the domestic financial system over alleged illicit transactions [1].
1. 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 [1]. 2. 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 [1]. 3. 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 [1]. 4. 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 [1]. 5. 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 [1].
📊 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.
