Crypto Morning Brief: Nvidia earnings exceed expectations, Base co-founder Jesse to launch jesse token tomorrow
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Crypto Morning Brief: Nvidia earnings exceed expectations, Base co-founder Jesse to launch jesse token tomorrow
Ark Invest increases stakes in Coinbase, Circle, and Bullish, continuing its positioning in crypto assets.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Market News: Trump to Decide Next Fed Chair Before Christmas
According to market reports, Trump will select the next Federal Reserve chair before Christmas.
Fed Governor Michelle Bowman: Fed May "Possibly" Shrink Balance Sheet Again in Future
According to Jinshi Data, Fed Governor Michelle Bowman stated that it is "possible" the Federal Reserve may shrink its balance sheet again in the future.
NVIDIA Q3 Earnings: Company's Q3 Revenue Reaches $57 Billion, Up 62% Year-on-Year
NVIDIA (NVDA.O) has just released its Q3 financial results. Sales of its chips, central to the AI boom, grew faster than Wall Street expected. The company also issued a strong revenue forecast for the current quarter, reinforcing investor confidence in the ongoing AI investment surge. Its Q3 report shows quarterly revenue of $57 billion, up 62% year-on-year. Data center revenue reached $51.2 billion, exceeding expectations of $49 billion. Additionally, the company projected Q4 revenue of approximately $65 billion, far above analysts' average estimate of $61.6 billion. After the earnings release, NVIDIA's after-hours stock price rose over 4%. NVIDIA CEO Jensen Huang said: "Blackwell sales are off the charts, and cloud GPUs are completely sold out." Previously, Huang had downplayed concerns about an AI bubble.
Base Co-Founder Jesse to Launch Jesse Token on November 21
Base co-founder Jesse Pollak announced the upcoming launch of the jesse token, scheduled for 9:00 AM Pacific Time on November 20 (1:00 AM Beijing Time on November 21). Jesse specifically warned users about potential fake accounts, emphasizing that all official updates will only be released through his X account and the Base app.
Jesse explained that $jesse will combine a "content coin tracking short-term attention" with a "creator coin tracking long-term content value," forming a complete ecosystem that "returns ownership, control, and earnings to creators and their followers."
Ripple CTO Exploring Native XRP Staking Functionality
According to Thestreet, Ripple Chief Technology Officer David Schwartz has proposed a new model involving staking. This discussion originated from a lengthy post by Ripple Senior Engineering Director J. Ayo Akinyele on X, exploring the possibility of adding staking functionality to the XRP Ledger. Currently, the XRP Ledger uses Proof-of-Authority (PoA) consensus, where validators reach agreement on XRP transactions every 3–5 seconds, while blockchains like Ethereum and Solana use Proof-of-Stake (PoS) protocols.
Akinyele noted that with the launch of the U.S.'s first XRP spot exchange-traded fund, the ecosystem is entering a new phase. Implementing native staking requires solving two major issues: the source of staking rewards and the method of fair distribution.
Injective: New $INJ Community Buyback to Be Launched
Injective announced: A new $INJ community buyback will be initiated.
Vitalik: Quantum Computing Could Break ECC Before 2028, Calls for Ethereum to Shift to Quantum-Resistant Cryptography
According to Solid Intel, Ethereum co-founder Vitalik Buterin warned at the Devconnect conference that quantum computing could break Elliptic Curve Cryptography (ECC) before the 2028 U.S. presidential election. He urged ETH to transition to quantum-resistant cryptographic technologies within the next four years.
Kraken Has Submitted Draft S-1 Registration Statement for IPO to U.S. SEC
According to the official blog, Payward, Inc., the parent company of cryptocurrency exchange Kraken, has submitted a draft Form S-1 registration statement to the U.S. Securities and Exchange Commission (SEC), planning an initial public offering (IPO).
The company stated that the number of shares to be offered and the price range have not yet been determined. The IPO is expected to take place after the SEC completes its review process, with timing dependent on market and other conditions.
Robinhood Announces Three-Phase Plan to Offer Permissionless Tokenized Stocks to DeFi App Users
According to Cryptopolitan, fintech giant Robinhood has announced a three-phase plan to enable permissionless tokenized stocks for DeFi application users via Arbitrum Stylus technology.
According to AJ Warner, Strategic Lead at Offchain Labs, the final stage of the plan will make stock tokens fully permissionless, allowing users to utilize these tokens across various decentralized applications (dApps). In the current first phase, EU users can purchase tokenized versions of around 800 publicly traded securities through the Robinhood app, though they cannot transfer them outside the app.
The second phase will focus on infrastructure development, with Robinhood leveraging Bitstamp—acquired for $200 million—to enable 24/7 trading of stock tokens. In the third phase, users will be able to withdraw permissionless assets to external wallets and use them within decentralized protocols such as Aave.
Bitcoin Payments Giant Block Plans to Expand Stock Buyback Program by $5 Billion
According to Businesswire, Block, the fintech and Bitcoin payments giant founded by Twitter creator Jack Dorsey, today announced an expansion of its stock buyback program by $5 billion. This move is reportedly part of the company’s overall capital allocation strategy.
Ark Invest Increases Holdings in Coinbase, Circle, and Bullish Stocks, Continues Building in Crypto Assets
According to The Block, Cathie Wood’s Ark Invest again increased positions in cryptocurrency-related stocks on Tuesday, purchasing $3 million worth of Coinbase shares and $3.1 million in Circle shares in its Innovation ETF (ARKK) and Fintech Innovation ETF (ARKF). ARKF also bought an additional $1.1 million in Bullish shares.
Market Movements
Suggested Reading
The Atlantic: How Cryptocurrency Could Trigger the Next Financial Crisis?
This article explores the potential risks of stablecoins. Despite being designed to provide stability, their "apparently safe" nature might make them the trigger for the next financial crisis. The article focuses on the impact of the GENIUS Act (Guiding Emerging National Innovations in Stablecoins Act), noting that while intended to regulate the stablecoin market, it could exacerbate systemic risks.
Wintermute Market Watch: Sell-Off Driven by Macro Recalibration, Crypto Fundamentals Remain Intact
This article discusses how the recent market sell-off has been primarily driven by macroeconomic factors, including repricing of rate cut expectations and sentiment swings led by the U.S. markets. Bitcoin and Ethereum underperformed altcoins, with the market overall in a risk-off mode. Performance of major cryptocurrencies is crucial for stabilizing market sentiment.
New Graduate Takes Job from Veteran Employee in 3 Months—Nansen HR Post Sparks Backlash
This article covers the controversy sparked by a LinkedIn post from blockchain analytics firm Nansen, criticized for glorifying a hyper-competitive workplace culture. The post described how a fresh graduate outperformed a senior employee, leading to the latter's termination, drawing criticism from online users. Nansen’s CEO responded, calling the post "stupid" and denying the existence of a toxic work environment at the company.
Variant Researcher: Visualizing 2025’s Top Crypto Market Trends
This article provides an in-depth analysis of the crypto market, exploring trends and directions for the crypto industry in 2025. The report outlines three key growth curves for crypto assets—creation, accumulation, and utilization—and forecasts future opportunities across five areas: macroeconomics, stablecoins, centralized exchanges, on-chain activity, and frontier markets. Rapid growth and widespread adoption of stablecoins, innovation potential in on-chain activity, and distribution power of centralized exchanges are highlighted. The article also touches on prospects for on-chain experiments, new token categories, and tokenized assets.
What Happened to El Salvador After Abandoning Bitcoin as Legal Tender?
This article details El Salvador’s developments after abandoning Bitcoin as legal tender. Through a series of initiatives and policies, El Salvador is moving toward monetary sovereignty, digital sovereignty, and educational sovereignty. It also highlights the country’s achievements in Bitcoin adoption, economic freedom, and public safety, as well as President Bukele’s deep understanding and advocacy for Bitcoin.
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