ETH falls below the $3700 mark

[BitMine Purchases Another 44,036 ETH Worth Approximately $166 Million] According to monitoring by Lookonchain, BitMine has purchased another 44,036 ETH during the market downturn, with a total transaction value of approximately $166 million.

[Australian Police Seize $6.4 Million Crypto Wallet and Arrest Suspect] The Australian Federal Police successfully deciphered the seed phrase of a digital wallet containing $6.4 million worth of cryptocurrency, which was identified as illicit proceeds of an organized crime group. This operation is part of a broader crackdown on encrypted communication networks, which are believed to be tools for criminal organizations. Additionally, police arrested 32-year-old Sydney resident Jay Je Yoon Jung, who is accused of developing a highly encrypted communication platform called Ghost, allegedly designed specifically for criminal groups.

OKX-BTC/USDT is currently trading at $110018.50, with a 5-minute increase of 0.38%. Please be aware of market fluctuations.

[Coinbase CEO Says Payments Will Become a Key Use Case for Cryptocurrency] Coinbase CEO Brian Armstrong stated on social media that the payments sector will become the next critical application scenario for cryptocurrency. Armstrong emphasized that Coinbase has already established a robust ecosystem in this field, encompassing the USDC stablecoin, the enterprise service platform Coinbase Business, the Base blockchain, in-app payment functionality, and the recently launched Coinbase One Card credit card, among other products and services. Additionally, the company is further promoting the adoption and development of crypto payments through collaboration with partners.

[Coinbase Q3 Net Profit Reaches $432.6 Million, Trading Revenue Increases to $1.05 Billion] Coinbase released its Q3 financial report, showing a net profit of $432.6 million ($1.50 per share), significantly up from $75.5 million ($0.28 per share) in the same period last year, driven by increased trading volume due to heightened digital asset volatility. Revenue rose from $1.21 billion in the same period last year to $1.87 billion, while trading revenue increased from $572.5 million to $1.05 billion. Subscription and services revenue grew 34.3% to $746.7 million, with stablecoin revenue reaching $354.7 million, compared to $246.9 million in the same period last year.