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Privacy is essential for banks moving financial operations onchain. But how do institutions protect sensitive data while still giving regulators, auditors and security teams the access they need? @matterlabs co-founder and CEO @gluk64 explains why existing privacy solutions have fallen short and how zero-knowledge proofs could help institutions maintain control over their data without sacrificing oversight. Thank you to @Grayscale for sponsoring the CoinDesk Media Network.

China moves to seize more than 61,800 bitcoin tied to a $5.7 billion fraud case, spot Bitcoin ETFs attract over $1 billion in inflows this week, and President Trump targets overseas crypto scam operations. @jennsanasie has what you need to know.

LATEST: The Blockchain Association urges Congress to overhaul crypto tax rules, calling for stablecoin cash treatment, staking rewards taxed only at sale, de minimis exemptions for small transactions and limits on broker reporting to custodial intermediaries only.

JUST IN: @SoFi launches SoFi Earn, billed as the first tokenized deposit from a U.S. national bank available directly to retail customers, earning 4.40% APY with FDIC insurance and convertible 1:1 into SoFiUSD for crypto purchases or blockchain transfers.

NEW: @FireblocksHQ denies it is in talks to be acquired by @Visa, calling reports of a $2.5B deal “news to us, and not true at present time,” while @Coinbase also denies involvement in a potential transaction.

LATEST: a16z is dropping “crypto” from its flagship blockchain fund name, rebranding to a16z Frontier and broadening its investment mandate beyond crypto, per The Information.

JUST IN: @Arf_one partners with @Ripple to bring $RLUSD powered settlement liquidity to the XRP Ledger, giving licensed cross-border payment companies access to short-duration working capital backed by Arf’s $10B annual settlement volume.

MACRO: Asian stocks tumble as China’s CSI 300 enters bear market territory, down 20% from June’s peak, while Japan’s Nikkei drops 3% and $BTC retreats from $84K to below $82K as oil surges above $100.

INSIGHT: The OCC’s final GENIUS Act rule drops its proposed presumption against third-party stablecoin rewards, with banks calling it a threat to deposits and crypto calling it a win, as the regulator says it will handle cases individually with no clear rules yet.

NEW: @Grayscale expands in-kind crypto transfers across 10 investment products, letting eligible investors contribute $BTC, $ETH, $SOL, $XRP, $ZEC and five others directly for fund shares without selling to cash first, with minimums starting at $80,300.

LATEST: @Aave proposes V3.8, a security upgrade adding reentrancy protection to its Pool accounting across 16 networks, as a preventive measure ahead of formal audit and governance vote.

UPDATE: XRP Ledger's bug fix countdown restarted after validator support dropped to 26 of 35, pushing the patch to November. Support has since recovered to 31 validators, but the two-week clock reset means the fix missed its near-final window.

EARNINGS: Tesla reports mixed third-quarter results, with revenue of $28.05 billion missing expectations while earnings per share of $0.48 beat forecasts. The company continues to hold 11,509 BTC, worth roughly $1 billion. $TSLA shares are up 1.5% in after-hours trading.