[Whale Using Loop Loan to Long BTC Sells WBTC and ETH to Repay Loan] On-chain analysis shows that a whale who went long on 1,320 WBTC (approximately $132 million) through loop lending faced a position close to the liquidation line after today's market downturn. To reduce risk, the whale sold approximately 465.4 WBTC and 2,686 ETH two hours ago, exchanging them for about $56.52 million USDC to repay part of the loan. The average selling price of WBTC was approximately $102,722, and the average selling price of ETH was approximately $3,244.

Coinbase executives publicly criticized the banking industry's opposition to its national trust charter application, questioning whether this move is for consumer protection or protectionism. （Cointelegraph）

[Suspected Whale Withdraws 144,000 ETH from Binance, Possibly Turning Bullish] On November 5, on-chain analysis revealed that a whale or institution, which had borrowed 66,000 ETH for short selling on October 20, repurchased and repaid the loan yesterday, earning $24.48 million in profit, and is now suspected to have turned bullish. From last night to this morning, the whale transferred $482 million USDC to Binance and withdrew 144,000 ETH from Binance at an average price of approximately $3,341. These USDC were collateral for the ETH borrowed for short selling earlier, which were retrieved after repayment yesterday and subsequently used to purchase ETH.

Orderly announced the launch of the ORDER buyback function, where 60% of the fees collected every two weeks will be used to purchase ORDER on the open market. Half of the purchased ORDER will be distributed to stakers, while the other half will go into the community wallet, managed by users through a governance mechanism. Additionally, Orderly has introduced the new VALOR 2.0 system, with the old and new VALOR systems running in parallel. Stakers converting VALOR 1.0 to USDC will not affect their VALOR 2.0 holdings, and VALOR 2.0 will continue to generate esORDER.

[U.S. Senator Lummis Supports Strategic Bitcoin Reserve to Address National Debt Issues] U.S. Senator Cynthia Lummis stated that establishing a Strategic Bitcoin Reserve (SBR) is the only effective solution to address the national debt issue. She publicly supports the Trump administration's policy of promoting the SBR, believing that Bitcoin, as a decentralized digital asset, can provide the nation with long-term economic stability and anti-inflation capabilities. This proposal has sparked widespread discussion, especially in the current global economic environment, where Bitcoin's potential role is receiving significant attention.