Crypto Morning Briefing: U.S. government shutdown may end as early as today, Sui launches native stablecoin USDsui
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Crypto Morning Briefing: U.S. government shutdown may end as early as today, Sui launches native stablecoin USDsui
Visa launches pilot program for creators to receive instant cross-border payments in stablecoins.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
U.S. House passes procedural vote, U.S. government shutdown could end as early as today
According to Jin10 News, the U.S. House of Representatives has cleared a key procedural hurdle, paving the way for a full chamber vote on the funding bill already passed by the Senate to end the government shutdown. With the shutdown entering its 43rd day, House lawmakers voted 213 in favor and 209 opposed on Wednesday to advance the bill to the next stage. The funding bill will now undergo one hour of debate before a final vote. Earlier, the White House stated that Trump hopes to sign the bill ending the government shutdown tonight (Thursday morning Beijing time).
White House: Trump to sign temporary funding bill in Oval Office at 10:45 AM Beijing time today
According to Jin10 News, the White House announced that Trump will sign the temporary funding bill in the Oval Office at 9:45 PM Eastern Time today (10:45 AM Beijing time today).
U.S. Treasury Secretary Bessent: Major tariff news expected in coming days
According to Jin10 News, U.S. Treasury Secretary Bessent said major tariff news is expected in the coming days.
Fed's majority regional reserve voting members not enthusiastic about December rate cut
According to Jin10 News, Federal Reserve officials have recently spoken frequently on monetary policy. "Fed whisperer" Nick Timiraos noted that four voting regional Fed presidents—Boston Fed’s Collins, St. Louis Fed’s Musalem, Chicago Fed’s Goolsbee, and Kansas City Fed’s Schmid, who opposed the October rate cut—have not actively pushed for another rate cut in December.
Crypto journalist: Canary XRP ETF officially effective, trading to begin at market open November 13
According to crypto journalist Eleanor Terrett, as of 5:30 PM Eastern Time, Canary Funds' XRP ETF has officially gone effective. Nasdaq has completed the listing certification, with the ticker symbol XRPC, and the fund will begin trading when markets open tomorrow.
Sui launches native stablecoin USDsui, issued by Bridge, a Stripe company
Sui announced it will launch its native stablecoin USDsui this year, a digital dollar built on Bridge’s Open Issuance platform. As Sui network’s foundational stablecoin, USDsui will provide developers with a fully integrated, compliance-ready solution and interoperability with other stablecoins within the Bridge ecosystem.
It is reported that USDsui will be immediately usable in wallets, DeFi protocols, and applications on Sui upon launch, supporting cross-border payments, remittances, and peer-to-peer transfers. Designed to comply with the upcoming GENIUS Act, its earnings will be directly reinvested into the Sui ecosystem.
Sonic Labs introduces token deflation mechanism while rewarding ecosystem builders
According to The Block, Sonic Labs today announced a new FeeM (Fee Monetization) system designed to create deflationary pressure on its native token S. The system offers tiered rewards ranging from 15% to 90% to ecosystem builders based on network usage, allocates a fixed 10% to validators, and burns the remainder. Sonic CEO Mitchell Demeter said the move aims to "increase deflation and strengthen long-term value alignment."
Phantom CEO: Company has no plans to launch own blockchain or pursue IPO
On the Empire podcast, Phantom wallet CEO Brandon Millman said the company has no intention of launching its own blockchain or pursuing an IPO, with current focus remaining on the Solana ecosystem and products for mainstream users. He stated that building a proprietary chain contradicts the principles of openness and composability in crypto, and Phantom will continue deepening its commitment to Solana. Brandon also noted that while the company has IPO potential, it prefers to expand via private fundraising backed by investors like a16z, Paradigm, and Sequoia.
Arthur Hayes: Still below ZEC allocation target, considering增持in $300–$350 range
BitMEX co-founder Arthur Hayes posted on social media that his ZEC investment remains slightly below target allocation. Hayes indicated he would consider increasing exposure if ZEC drops into the $300–$350 range.
Visa launches creator stablecoin payment pilot, enabling instant cross-border payouts
According to The Block, Visa announced a new stablecoin payment pilot program, initially supporting Circle’s USDC, allowing U.S. businesses to pay in fiat via Visa Direct, while creators, freelancers, and gig economy workers can opt to receive payments directly in stablecoins. This "breakthrough" pilot aims to enable near-instant cross-border payments, especially beneficial in regions with high currency volatility or limited banking access. Recipients must have a "compatible" stablecoin wallet and meet KYC/AML requirements. Visa plans to scale the program in the second half of 2026 and has already facilitated over $140 billion in crypto and stablecoin transaction volume, establishing more than 130 stablecoin-linked card issuance programs across 40+ countries.
Circle Q3 USDC circulation up 108% YoY, net profit surges 202%
Circle Internet Group, Inc. (NYSE: CRCL) released its Q3 2025 financial results today, reporting USDC circulation reaching $73.7 billion, a 108% year-over-year increase. Total revenue and reserve income reached $740 million, up 66% YoY; net profit hit $214 million, up 202% YoY. Additionally, Circle announced the successful launch of Arc public testnet, attracting over 100 financial and tech companies, and is exploring the possibility of issuing a native token for the Arc network. The company also raised its non-interest income forecast for fiscal 2025 to between $90 million and $100 million.
Crypto startup Seismic raises $10 million, led by a16z
According to Fortune, blockchain data security firm Seismic announced a $10 million funding round led by a16z crypto, with participation from Polychain, Amber Group, TrueBridge, dao5, and LayerZero. Seismic partners with a fintech company called Brookwell, which provides stablecoin accounts to clients. When clients conduct transactions on Brookwell, payments are processed through Seismic’s private blockchain, ensuring data is neither leaked nor publicly displayed.
Market Movements
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Buying Gold More Than Central Banks: Tether’s Golden Ambition
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