Key Takeaways
- Amazon's stock surged by 12% following a strong Q3 earnings report that significantly surpassed estimates, driven by booming demand in its cloud computing and artificial intelligence segments.
- Tether (USDT) reported over $10 billion in annual profits, with its Treasury holdings experiencing substantial growth, highlighting the stablecoin issuer's financial strength.
- Former Binance CEO Changpeng Zhao's legal team demanded an "immediate retraction" from Senator Elizabeth Warren regarding her post-pardon remarks, signaling ongoing tensions in the crypto regulatory landscape.
- An appeals court upheld a previous ruling, confirming that Custodia Bank is not entitled to a Federal Reserve master account, a setback for crypto-focused institutions seeking direct access to the U.S. financial system.
- Canaan secured a deal in Japan, marking the country's first state-linked bitcoin mining project, indicating growing institutional interest in digital asset infrastructure.
Amazon's shares experienced a significant boost, jumping 12% after the tech giant announced Q3 earnings that crushed analyst expectations. The robust performance was primarily attributed to strong demand in its cloud services and burgeoning artificial intelligence initiatives, signaling continued growth in these key sectors.
In the digital asset space, Tether, the issuer of the largest stablecoin by market capitalization, revealed annual profits exceeding $10 billion. This impressive financial milestone was accompanied by a notable increase in the company's Treasury holdings, underscoring its expanding balance sheet and market dominance.
Meanwhile, the legal and regulatory scrutiny surrounding the cryptocurrency industry continues. Lawyers representing Changpeng Zhao (CZ), the former CEO of Binance, issued a demand for an "immediate retraction" from Senator Elizabeth Warren. This action follows remarks made by the Senator after Zhao's pardon, indicating persistent friction between crypto figures and policymakers.
In a related development impacting crypto-focused banking, an appeals court affirmed a prior decision that Custodia Bank is not eligible for a master account with the Federal Reserve. This ruling reinforces the challenges faced by digital asset banks in gaining direct access to the central banking system, which is crucial for seamless operations within traditional finance.
On the infrastructure front, Canaan, a prominent manufacturer of bitcoin mining equipment, finalized a deal in Japan. This agreement is particularly significant as it represents the first state-linked bitcoin mining project in the country, potentially paving the way for further institutional involvement in Japan's digital asset ecosystem.
Other notable events include Folks Finance raising $6.2 million and announcing the launch of its $FOLKS token on November 6th, 2025. Additionally, several cryptocurrency projects, including GateLayer ($GT), Harmony Protocol ($ONE), and Clearpool ($CPOOL) with Hex Trust ($USDX), have scheduled significant events like network upgrades and new pool launches for October 31, 2025.