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Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. Coinbase Reports Strong Q3: Coinbase posted $432.6M in Q3 profit on $1.9B in revenue, a fivefold YoY increase driven by trading and subscription growth. Assets under custody hit $300B, led by institutional clients.

2. Retail Token Boom: Retail investors poured $1.4B into MegaETH, zkPass, and Momentum token sales, signaling renewed FOMO and a potential new bull cycle.

3. 💡Feature of the Day - CZ Pardon Controversy: Binance.US is under fire after listing Trump-linked stablecoin USD1 days after CZ’s presidential pardon.

   
   All this and more in today’s headlines!

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📰 News Highlights:

Coinbase Posts Big Gains [Source][Source][Source][Source]

Coinbase delivered a strong third quarter with a $432.6 million net income and $1.9 billion in revenue, marking a fivefold increase in profit year-over-year. Trading activity and growing subscription income fueled the surge, with transaction revenue reaching $1.05 billion and subscription services climbing 34% to $746.7 million.

The exchange also added 2,772 BTC (worth $299 million) to its reserves, bringing total holdings to 14,548 BTC valued at $1.57 billion. Institutional clients drove most of the $295 billion trading volume, and assets under custody hit a record $300 billion, reinforcing investor confidence.

Coinbase is advancing its “Everything Exchange” vision, expanding beyond spot trading into derivatives, stablecoins, tokenized assets, and early-stage token sales. The company is also pushing for broader stablecoin adoption through Circle’s USDC and accelerating network performance via Base’s Flashblocks feature, which offers ultra-fast transaction confirmations.

Despite regulatory pressures, Coinbase’s diversification and focus on institutional growth signal a maturing crypto powerhouse securing its long-term role in global finance.

Retail Token Frenzy [Source][Source][Source]

Retail investors poured $1.4 billion into token sales for MegaETH, zkPass, and Momentum, far exceeding targets and signaling a roaring return of market FOMO. MegaETH, an Ethereum Layer-2 project, became the standout, oversubscribed 27.8x with $1.3 billion committed, valuing the project above $27 billion.

zkPass, offering private data verification using zero-knowledge proofs, surpassed its $2 million goal with over $67 million in requests. Momentum, a decentralized exchange on Sui, hit $82 million raised, beating its $4.5 million target by 1,739%.

The massive demand across different blockchain niches, scalability, privacy, and DEX infrastructure, reflects renewed investor confidence and a revived retail appetite for early-stage projects. The surge suggests the start of a new bull cycle as investors chase the “next big thing.”

MegaETH’s innovative allocation system will reward long-term holders, zkPass pushes privacy tech adoption, and Momentum showcases Sui’s scalability potential. Collectively, the trio represents a powerful signal of optimism and liquidity flooding back into crypto markets.

💡 Feature of the Day: 

CZ Pardon Sparks Uproar [Source][Source][Source][Source]

Binance.US faced backlash after listing USD1, a stablecoin tied to Trump’s World Liberty Financial, just days after President Trump pardoned former Binance CEO Changpeng “CZ” Zhao. Senator Chris Murphy accused the exchange of political favoritism, suggesting corruption, and calling for an inquiry.

Binance.US rejected the claim, saying the listing followed a “routine due diligence process” and was “purely a business decision.” The company emphasized that both USD1 and WLFI tokens were already approved and widely traded before the controversy.

The uproar adds fuel to Washington’s skepticism over Trump’s ties to crypto. Lawmakers are pushing for stricter ethics rules, with several senators urging the Justice Department to review the pardon.

Representative Ro Khanna even proposed legislation banning presidents and Congress members from trading crypto, citing the case as “blatant corruption.”

Binance.US maintains its independence from Binance Global, but the episode underscores how deeply politics now intertwines with the crypto industry’s regulatory and ethical challenges.

😂 Crypto Meme of the Day: 

Meme of the day provided by @cryptomemebot

And that’s it for this today.

See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com