Cryptocurrency markets experienced significant volatility following the Federal Open Market Committee meeting, with major digital assets declining 1-3% in the latest trading session. Bitcoin fell 3% to $110,100 while Ethereum dropped 3% to $3,900. Binance’s BNB bucked the trend with a 1% gain to $1,120, while Solana declined 2% to $192. Zcash and Aero led gainers with 2% increases each.
The market downturn triggered substantial liquidations exceeding $870 million after Bitcoin’s slide to $106,000 dragged many altcoins down 5-10% or more. In regulatory developments, Senator Chris Murphy has raised serious allegations that Binance assisted in coordinating the Trump memecoin launch in exchange for consideration of a pardon for former CEO Changpeng Zhao, with The Wall Street Journal reporting similar claims.
Meanwhile, Coinbase delivered strong third-quarter performance, reporting approximately $1.9 billion in revenue with transaction revenue surpassing $1 billion. CEO Brian Armstrong referenced prediction market terminology during earnings discussions, prompting questions about market integrity safeguards.
MicroStrategy reported substantial Q3 profits of roughly $2.8 billion despite softer Bitcoin performance, with the company’s treasury now holding over 640,808 BTC valued above $68 billion. In legal developments, entertainers Drake and Adin Ross face a class action lawsuit alleging misleading promotions for crypto casino Stake. Separately, Western Union has filed to trademark WUUSD for its planned stablecoin offering.
