The crypto industry spent $233 million in the midterm elections, but Democrats still control Congress. The CLARITY Act is currently facing legislative pressure, and the industry may have to bear the related costs in the future.

Binance - ARB is currently priced at $0.1686, up 9.34% in the last 24 hours. 24-hour trading volume was $200 million, representing a 65.7% increase. (For reference only.)

Coinbase's third-quarter trading revenue fell 23% year-over-year to $590 million, while retail spot trading volume declined 9% quarter-over-quarter; Robinhood's crypto trading revenue weakened. Barclays lowered its price target for Coinbase from $149 to $120. Circle's reserve revenue in the third quarter decreased by 8% year-over-year to $658 million, with total revenue of $865 million including $182 million in token pre-sale revenue. Coinbase's average USDC balance reached $22 billion, and stablecoin revenue, excluding rewards, increased by 3% quarter-over-quarter but decreased by approximately 16% year-over-year. Circle's USDC trading volume increased by 49% year-over-year to $13.9 trillion, with the payment network's annualized transaction volume reaching $41.3 billion. Coinbase predicts that its daily active users will grow by over 60% quarter-over-quarter, with annualized revenue exceeding $200 million. Oppenheimer raised its target price for Coinbase to $207.

Coinbase has launched a Morpho-backed PAXG collateralized lending service in the United States (excluding New York State) and Canada. Service availability and terms vary by jurisdiction and are subject to eligibility and market conditions; interest rates are variable and subject to change. Loans involve risks, including potential liquidation of collateral; Coinbase does not provide tax, legal, or investment advice.

Arbitrum's on-chain stablecoin market capitalization increased by $43.6 million in 24 hours, ranking first among public chains. During the same period, TRON, XRP Ledger, and Aptos saw their stablecoin market capitalization increase by $28.3 million, $26.2 million, and $22.5 million, respectively.