Morpho Protocol USDC deposits reach $4.1 billion.

The U.S. Commodity Futures Trading Commission (CFTC) announced that clearinghouses can now conduct daily settlements through trust companies, no longer limited to banks, provided that the trust companies comply with the same rules as clearing banks.

[Arbitrum Reports USDG on GMX Growing to Nearly $17 Million] On November 6th, Arbitrum reported that USDG on GMX has grown from approximately $1.5 million in early October to nearly $17 million, a roughly tenfold increase in less than a month. This growth stems from USDG's integration into the GM pool and GMX Dollar Vault, covering trading in the BTC, ETH, and SOL markets. (Data in the accompanying chart is attributed to Entropy Advisors.)

The White House Office of Management and Budget is reviewing a proposal from the SEC regarding broker-dealers' digital asset businesses, which was submitted earlier this week. The SEC is expected to consider proposals to amend broker-dealers' financial responsibilities, record-keeping, and reporting requirements to clarify how the rules apply to crypto assets. (Source: Bloomberg) The U.S. Commodity Futures Trading Commission (CFTC) submitted another proposal this week to the White House Office of Management and Budget, aiming to strengthen consumer protection measures in forecasting markets. (Source: Bloomberg)

The post-election rally quickly reversed as AI stocks plunged, but cryptocurrencies held up relatively better despite a $1 billion liquidation wave.

USDC deposits on the Morpho protocol reached a record high of $4.1 billion.