Hey crypto addicts,


Midnight is gaining momentum after surpassing one million transactions on its mainnet, marking a significant milestone for the privacy-focused blockchain. Data from Midnight Explorer showed approximately 1.02 million cumulative transactions on October 27, while daily activity climbed to 47,714 transactions on October 26, up sharply from just 128 a month earlier. The surge highlights growing network activity as developers begin exploring new opportunities for privacy-focused applications.

A key driver has been the introduction of permissionless smart contract deployment in September, allowing developers to launch contracts directly on mainnet. Midnight also supports selective disclosure, enabling applications to verify information without exposing sensitive user data. Its dual-token model separates NIGHT, the network’s native token, from DUST, the resource used to pay transaction fees and execute smart contracts.

However, transaction growth alone does not confirm sustained adoption, as the project has yet to disclose how much activity comes from active users or individual applications. Midnight’s next challenge will be turning this early momentum into a thriving ecosystem of real-world use cases while continuing to develop its infrastructure and decentralization. Here’s what you need to know from today’s crypto market.☕

What we’ve covered for you today:

The U.S. Commodity Futures Trading Commission (CFTC) has sued Utah, escalating a growing legal battle over who has the authority to regulate prediction markets. The lawsuit seeks to prevent the state from enforcing its gambling laws against federally registered platforms, arguing that oversight of these markets falls under federal jurisdiction. The move brings the CFTC’s legal challenges against states to 10, highlighting the growing conflict between federal regulators and state governments.

The dispute intensified after Utah sued Kalshi, accusing the platform of offering illegal gambling and seeking up to $61.2 million in allegedly unlawful fees. Kalshi maintains that its event contracts operate under federal oversight, while Utah argues that its gambling restrictions still apply. A separate ruling previously favored Utah, and Kalshi’s appeal remains pending.

The outcome could shape the future of prediction markets across the United States, influencing how platforms offer contracts tied to sports, elections, and other real-world events. As legal challenges mount, the industry faces uncertainty over whether federal rules will override state restrictions or whether individual states will retain greater control. Here’s what you need to know from today’s crypto market.☕

FOMO has sparked debate across the crypto community after offering creators $500 per month to produce at least 30 promotional videos. The deal requires original content to be published across TikTok, Instagram, and YouTube, with the recruitment listing estimating 10–15 hours of work per week.

However, not everyone agrees that the offer is unfair. Some industry participants argue that simple short-form videos can be produced quickly, making the base payment more reasonable when production time is limited. The deal also includes referral commissions starting at 25%, potentially reaching 75%, alongside performance bonuses that could increase total earnings.

The dispute highlights a broader tension in crypto marketing between guaranteed payments and performance-based compensation. While referral commissions can reward creators who bring in active traders, actual earnings depend on audience engagement and conversions. Here’s what you need to know from today’s crypto market.☕

Bitcoin is facing renewed selling pressure as large traders on decentralized derivatives exchange Hyperliquid have shifted to net short positions for the first time since March, according to Glassnode. The shift comes as Bitcoin trades near $80,000, suggesting that some major market participants are positioning for further downside. However, bearish positioning does not guarantee a decline, as a sudden recovery could force short sellers to close their trades and accelerate a rebound.

The changing sentiment highlights growing uncertainty across the crypto market, where leveraged positions can amplify price movements in either direction. Glassnode has identified major liquidation clusters around $85,000 and $87,000, levels that could become important if Bitcoin regains upward momentum. A move toward these zones could trigger short liquidations, while continued weakness may reinforce bearish positioning.

With whale sentiment turning negative, traders are watching whether Bitcoin can defend current levels or faces another wave of selling. The balance between liquidation risks, market liquidity, and shifting investor confidence could determine the next major move. Here’s what you need to know from today’s crypto market.☕

Most GTM problems aren’t one big failure. They’re one or two weak spots quietly dragging down the rest.

The free GTM Audit scores your go-to-market across four dimensions, then sequences a 90-day roadmap for your stage.

Drop your URL. Get your score in about 10 minutes.

Get My GTM Score

Today’s crypto headlines highlight shifting dynamics in stablecoins, regulation, and institutional adoption. Circle’s USDC has overtaken Tether’s USDT in euro-denominated stablecoin trading, capturing 56% of the market as European exchanges adapt to the EU’s MiCA regulations, although USDT remains the larger stablecoin globally. Meanwhile, Binance has applied for a crypto service provider license in Brazil

The U.S. Commodity Futures Trading Commission (CFTC) has sued Utah to prevent the state from enforcing its gambling laws against federally regulated prediction markets, escalating a dispute over who has the authority to oversee platforms such as Kalshi. The lawsuit follows Utah’s legal action against Kalshi and its affiliates, seeking to recover up to $60 million in profits allegedly generated through illegal

A new poll by Ipsos and the DeFi Education Fund found that 72% of 1,545 Americans surveyed considered it at least somewhat important for political candidates to support policies encouraging financial technology development in the United States. However, support was notably lower for explicitly promoting blockchain, cryptocurrency, and decentralized finance, with only 13% saying this was very or extremely

With Lovable, you'll have a working version of your client's site ready for the first meeting. Plus:

Start building, $5 off

_{^{Discount of $5 applies to first month of any paid plan. You need to sign up via this webpage in order to claim the discount. The discount applies to new and returning users without an active paid plan. Terms apply.}}

👇 All completely free, one click to subscribe.