Briefs · Evening brief
Evening brief: Strategy and Coinbase report Q3; bitcoin closes at $80,769
Strategy reported $20.91 billion in Q3 operating income and a CFO change, Coinbase's $718.7 million profit came mostly from a crypto gain, and bitcoin closed the U.S. session at $80,769.04 on CoinGecko's 4:00 p.m. ET 5-minute print before slipping after the bell.
Evening brief: Strategy and Coinbase report Q3; bitcoin closes at $80,769
By the Briefs Desk
Strategy reported third-quarter operating income of $20.91 billion, almost all of it a $20.91 billion gain on its bitcoin, and said its chief financial officer, Andrew Kang, will step down Nov. 5. Coinbase reported $1,215.6 million in Q3 revenue and $718.7 million in net income, $715.0 million of it a gain on crypto it holds. [3][4][6]
Bitcoin closed the U.S. session at $80,769.04 on CoinGecko's 4:00 p.m. ET 5-minute print, then fell to a $78,763.49 low at 5:00 p.m. ET and stood at $79,140 at 5:17 p.m. ET, down 2.72% over a rolling 24 hours. CoinMarketCap counted $591.8 million of leveraged bets forced closed on the derivatives markets it tracks in the hour to 5:19 p.m. ET. No cause for the drop has been established. [1][19]
U.S. session close
CoinGecko USD prices: Thursday 4:00 p.m. ET close (5-minute points) and rolling 24-hour change to a 5:17 p.m. ET snapshot. Powered by CoinGecko API. [1]
| Asset | Thu 4:00 p.m. ET (5-min) | 5:17 p.m. ET | Rolling 24h |
|---|---|---|---|
| BTC | $80,769.04 | $79,140 | −2.72% |
| ETH | $2,334.55 | $2,270.49 | −3.90% |
| SOL | $99.77 | $96.89 | −5.66% |
Figure 1. Bitcoin, 5-minute points from 3:30 to 4:10 p.m. ET, Oct. 29. Powered by CoinGecko API. [1]
Total crypto market value was $2.65 trillion at 5:16 p.m. ET, down 2.79% over 24 hours; bitcoin's share was 60.15%. CoinMarketCap Fear & Greed stood at 40 (Neutral) at 5:08 p.m. ET. In CoinMarketCap's top 10 at about 5:17 p.m. ET, only Hyperliquid's HYPE (+14.95%) and TRON (+3.58%) were up; XRP (−6.12%) and BNB (−5.98%) fell most. [2]
| Asset | Price (USD, ~5:17 p.m. ET) | Rolling 24h |
|---|---|---|
| BTC | 79,217.93 | −2.64% |
| ETH | 2,275.21 | −3.72% |
| USDT | 0.9987 | −0.04% |
| BNB | 710.71 | −5.98% |
| XRP | 1.2484 | −6.12% |
| USDC | 0.9999 | +0.02% |
| SOL | 96.84 | −5.54% |
| TRX | 0.3411 | +3.58% |
| HYPE | 93.35 | +14.95% |
| ZEC | 1,258.08 | −3.59% |
CoinMarketCap top 10 by market cap, listings/latest accessed 5:18 p.m. ET. [2]
Movers
Largest rolling 24-hour moves among CoinGecko's top-50 coins by market cap (stablecoins and tokenized assets excluded), to about 4:12 p.m. ET. Only five non-stable top-50 names were up. No catalyst is sourced for the movers. Powered by CoinGecko API. [1]
| Coin | Price (~4:12 p.m. ET) | Rolling 24h |
|---|---|---|
| Hyperliquid (HYPE) | $93.12 | +13.97% |
| OKB (OKB) | $113.04 | +1.44% |
| Bitway (BTW) | $1.48 | −14.14% |
| NEAR Protocol (NEAR) | $4.33 | −9.06% |
| Quant (QNT) | $188.67 | −6.45% |
Liquidations
Liquidations, positions exchanges forcibly close when margin runs out, totaled $591.8 million on derivatives markets tracked by CoinMarketCap in the hour to 5:19 p.m. ET, with longs $559.3 million and shorts $32.5 million, according to CoinMarketCap. Over four hours the total was $704.5 million. Over 24 hours they totaled $980.3 million: longs $825.5 million, shorts $154.8 million. CoinMarketCap's totals include a small share of non-crypto contracts. By Le Coin's calculation from CoinMarketCap data, crypto accounted for at most $568.4 million of the hourly total and $875.0 million of the 24-hour total. Data: CoinMarketCap, single source. [19] Le Coin report: https://lecoin.news/markets/2026-10-29-crypto-forced-selling-hour/
| Window (to 5:19 p.m. ET) | Total | Longs | Shorts |
|---|---|---|---|
| CoinMarketCap published, 1h | $591.8M | $559.3M | $32.5M |
| CoinMarketCap published, 24h | $980.3M | $825.5M | $154.8M |
| Le Coin estimate, crypto only (at most), 1h / 24h | $568.4M / $875.0M | — | — |
| BTC, 24h (to 5:20 p.m. ET) | $304.5M | $256.1M | $48.4M |
| ETH, 24h (to 5:20 p.m. ET) | $220.8M | $180.5M | $40.4M |
| SOL, 24h (to 5:20 p.m. ET) | $69.3M | $65.3M | $4.0M |
What printed
01 · Strategy reports Q3 results, a CFO change and a daily-dividend vote. Strategy's Q3 operating income was $20.91 billion, including a $20.91 billion gain on digital assets; net income was $19.53 billion, or $44.75 per diluted share. Over the first nine months it posted a net loss of $1.23 billion. It held 847,666 bitcoin at Sept. 30 and 848,517 as of Oct. 25. An 8-K says Kang is leaving for personal reasons, not over any disagreement; CEO Phong Le serves as principal financial officer from Nov. 6 through Dec. 31, and Reza Virasteh becomes CFO on Jan. 1, 2027. Le Coin report: https://lecoin.news/markets/2026-10-29-strategy-q3-2026-results/ [3][4]Shareholders approved daily dividends on four preferred stocks; a second 8-K says Strategy filed four amended certificates of designations in Delaware on Oct. 29. STRC's takes effect at 12:01 a.m. ET Nov. 1 and STRF, STRK and STRD's at 12:01 a.m. ET Jan. 1, 2027. Final results: 381,373,199 votes for, 2,236,551 against, 444,753 abstentions. [5]
| Measure (company-reported) | Q3 2026 | Q3 2025 |
|---|---|---|
| Operating income ($bn) | 20.91 | 3.89 |
| Net income ($bn) | 19.53 | 2.79 |
| Diluted EPS ($) | 44.75 | 8.42 |
| Total revenues ($m) | 125.4 | 128.7 |
Figure 2. Source: Strategy Inc 8-K Ex. 99.1, Oct. 29, 2026. [4]
02 · Coinbase revenue stalls at $1.2 billion; a crypto gain drives profit. Coinbase reported Q3 revenue of $1,215.6 million and net income of $718.7 million, of which $715.0 million was a gain on crypto held for investment. Operating income was $61.7 million. Adjusted EBITDA, a non-GAAP measure, was $332.9 million. Stablecoin revenue was $307 million, up 5% from Q2. Le Coin report: https://lecoin.news/markets/2026-10-29-coinbase-q3-2026-results/ [6][17]
03 · ICE agrees to bring Trade[XYZ]'s Hyperliquid-based perpetuals onshore, subject to regulatory approvals. Intercontinental Exchange signed a definitive agreement to be the exclusive operator of Trade[XYZ]'s regulated markets and is taking an undisclosed minority stake. Nothing trades until approvals arrive. Le Coin report: https://lecoin.news/markets/2026-10-29-ice-tradexyz-hyperliquid-perps-onshore/ [7]
04 · Polymarket says a third-party provider was compromised. @PolymarketTrade said at 2:33 p.m. ET that it had "identified & fixed an issue impacting our international platform," that one of its "3rd party providers was compromised," and that it had "referred this to relevant law enforcement." At 3:00 p.m. ET it said "Trading is now fully back online" and that it is "fully reimbursing all affected traders." [13]
05 · Utah charges Kalshi and its two founders. A Utah attorney general's information dated Oct. 28 names KalshiEX LLC, Tarek Mansour and Luana Lopes Lara and lists 14 counts: one second-degree felony, 12 third-degree felonies and one class A misdemeanor. They are allegations, and no plea or ruling has been entered. The filing came a day after the CFTC sued Utah to block state enforcement (Release 9315-26). Le Coin report: https://lecoin.news/protocols-policy/2026-10-29-utah-charges-kalshi/ [11][12]
06 · Canton Strategic Holdings says its Nasdaq shares could trade as tokens under the SEC's new exemption. In an 8-K, CNTN said trading on TSV's venue is "expected to begin as early as Monday, November 2." That date is a company statement labeled forward-looking, and nothing trades yet. SEC Release No. 34-106402 is temporary and conditional, caps each venue's volume and runs to Sept. 17, 2031. Le Coin report: https://lecoin.news/protocols-policy/2026-10-29-canton-cntn-tokenized-shares-tsv/ [8][9]
07 · FCA settles its High Court case with HTX. The FCA said it secured High Court undertakings that HTX "will not knowingly promote cryptoasset services unlawfully to UK consumers" and that HTX is no longer active in the UK. The terms of the settlement are confidential, the FCA said; its release does not mention a fine. The settlement "does not constitute an admission of liability or wrongdoing," per the FCA. Le Coin report: https://lecoin.news/protocols-policy/2026-10-29-htx-fca-proceedings-resolved/ [10]
08 · Ondo takes its Intelligent Portfolios live on Solana, outside the U.S. only. Ondo Finance said seven portfolio tokens, three based on strategies BlackRock developed for Ondo, are "now available to eligible investors globally (outside the U.S.) across Solana." Ondo said the portfolios had "surpassed $45 million in total value locked" on Ethereum and BNB Chain in their first few weeks. [15][18]
09 · SEC charges two entities in an alleged $130 million crypto-trading fraud. In press release 2026-110, the SEC said it "charged two foreign-operated, Colorado-incorporated entities, BG Wealth Sharing Ltd and DSJ Exchange Pty Ltd, for orchestrating a fraud scheme that used false SEC filings to boost confidence in their investment program and helped them raise more than $130 million from tens of thousands of retail investors." The figures are allegations in an SEC civil complaint; no court has ruled. [16] Le Coin report: https://lecoin.news/protocols-policy/2026-10-29-sec-bg-wealth-dsj-130m-false-filings/
| Item | Measure | Value | Source |
|---|---|---|---|
| Utah v. KalshiEX | Counts filed | 14 | [11] |
| Utah v. KalshiEX | Second-degree felony counts | 1 | [11] |
| Utah v. KalshiEX | Third-degree felony counts | 12 | [11] |
| Utah v. KalshiEX | Class A misdemeanor counts | 1 | [11] |
| Utah v. KalshiEX | Undercover wagers alleged (Sept. 13–24) | 12 | [11] |
| SEC Rel. 34-106402 | Max. most-liquid stocks per venue | 75 | [9] |
| SEC Rel. 34-106402 | Volume cap, most-liquid (% of prior-month ADV) | 0.25% | [9] |
| SEC Rel. 34-106402 | Max. less-liquid stocks per venue | 250 | [9] |
| SEC Rel. 34-106402 | Volume cap, less-liquid (% of prior-month ADV) | 2.5% | [9] |
| SEC Rel. 34-106402 | Relief expires | Sept. 17, 2031 | [9] |
| CNTN 8-K | Earliest company-stated TSV trading date | Nov. 2, 2026 | [8] |
Figure 3. Today's filings by the numbers. ADV = average daily volume. Kalshi counts are allegations.
Calendar. The CFTC's 24/7 trading roundtable is Dec. 15; the agenda and speakers are still to be posted. [14]
Open items still in play
- STRC's daily dividends begin Nov. 1; Strategy's other three preferred stocks follow Jan. 1, 2027. [5]
- CNTN tokenized-share trading on TSV could begin as early as Nov. 2, per the company. [8]
- ICE × Trade[XYZ] awaits regulatory approvals, and nothing trades until they arrive. [7]
Sources (19)
- Prices: Powered by CoinGecko API (https://www.coingecko.com/en/api). CoinGecko public API /coins/{bitcoin,ethereum,solana}/market_chart/range USD 5-minute points at 4:00 p.m. ET Oct. 29, and /coins/markets rolling 24h (movers) accessed 4:12 p.m. ET, Oct. 29, 2026; /simple/price (last_updated 5:17:45 p.m. ET) accessed Oct. 29, 2026, 5:18 p.m. ET. Pack: briefs/work/2026-10-29-evening-close-pack-v2.md (sha256 efb0b16fef208cad0ddcb5b566ba2d5d5d59832b6d60141f8a24aa5559ec7ff7).
- CoinMarketCap, https://coinmarketcap.com (global-metrics last updated 5:16 p.m. ET, listings/latest, fear-and-greed updated 5:08 p.m. ET), accessed Oct. 29, 2026, 5:18 p.m. ET.
- Strategy Inc, Form 8-K, AccNo 0001050446-26-000047, Oct. 29, 2026, https://www.sec.gov/Archives/edgar/data/1050446/000105044626000047/mstr-20261026.htm , accessed Oct. 29, 2026, 4:13 p.m. ET.
- Strategy Inc, Ex. 99.1, Oct. 29, 2026, https://www.sec.gov/Archives/edgar/data/1050446/000105044626000047/mstr-20261029x8kxex9912.htm , accessed Oct. 29, 2026, 4:13 p.m. ET.
- Strategy Inc, Form 8-K, AccNo 0001193125-26-437776, Oct. 29, 2026, https://www.sec.gov/Archives/edgar/data/1050446/000119312526437776/mstr-20261028.htm , accessed Oct. 29, 2026, 4:13 p.m. ET.
- Coinbase Global, Form 8-K Ex. 99.1, AccNo 0001679788-26-000121, https://www.sec.gov/Archives/edgar/data/1679788/000167978826000121/q326earningsdeck_vsec.htm , accessed Oct. 29, 2026, 4:16 p.m. ET.
- Intercontinental Exchange, press release, Oct. 29, 2026, https://ir.theice.com/press/news-details/2026/Intercontinental-Exchange-and-TradeXYZ-to-Bring-Hyperliquid-Based-Perpetual-Markets-Onshore/default.aspx , accessed Oct. 29, 2026, 8:59 a.m. ET.
- Canton Strategic Holdings, Form 8-K Ex. 99.1, accepted Oct. 29, 2026, 8:53 a.m. ET, https://www.sec.gov/Archives/edgar/data/1861657/000149315226049196/ex99-1.htm , accessed Oct. 29, 2026, about 9:30 a.m. ET.
- SEC, Release No. 34-106402, Sept. 17, 2026, https://www.sec.gov/files/rules/exorders/2026/34-106402.pdf , accessed Oct. 29, 2026, about 9:30 a.m. ET.
- Financial Conduct Authority, "FCA stops HTX's crypto promotions," Oct. 29, 2026, https://www.fca.org.uk/news/press-releases/fca-stops-htxs-crypto-promotions , accessed Oct. 29, 2026, about 4:25 p.m. ET.
- State of Utah v. KalshiEX, LLC, Tarek Mansour and Luana Lopes Lara, Co-Defendant Information, Oct. 28, 2026, https://attorneygeneral.utah.gov/wp-content/uploads/2026/10/Utah-v.-Kalshi.pdf , accessed Oct. 29, 2026.
- CFTC, Release No. 9315-26, Oct. 27, 2026, https://www.cftc.gov/PressRoom/PressReleases/9315-26 , accessed Oct. 29, 2026.
- @PolymarketTrade on X, Oct. 29, 2026, 2:33, 2:54 and 3:00 p.m. ET, https://x.com/PolymarketTrade/status/2115874609014726842 , https://x.com/PolymarketTrade/status/2115880034246484243 , https://x.com/PolymarketTrade/status/2115881498477785393 , accessed Oct. 29, 2026, about 4:14 p.m. ET.
- CFTC, Release No. 9318-26, Oct. 28, 2026, https://www.cftc.gov/PressRoom/PressReleases/9318-26 , accessed Oct. 29, 2026, about 4:18 p.m. ET.
- Ondo Finance (@Ondo) on X, Oct. 29, 2026, 9:33 a.m. ET, https://x.com/Ondo/status/2115799306925953529 , accessed Oct. 29, 2026, about 5:20 p.m. ET.
- SEC, press release 2026-110, "Two Entities Charged in $130 Million Fraud Scheme That Used False SEC Filings to Boost Investor Confidence," Oct. 29, 2026, https://www.sec.gov/newsroom/press-releases/2026-110-two-entities-charged-130-million-fraud-scheme-used-false-sec-filings-boost-investor-confidence , accessed Oct. 29, 2026, about 5:20 p.m. ET.
- Coinbase Global, Form 10-Q, AccNo 0001679788-26-000122, accepted Oct. 29, 2026, 4:12 p.m. ET.
- Ondo Finance, "Ondo Intelligent Portfolios Go Live on Solana," Oct. 29, 2026, https://ondo.finance/blog/intelligent-portfolios-go-live-on-solana , accessed Oct. 29, 2026, about 5:25 p.m. ET.
- CoinMarketCap liquidations, capture accessed Oct. 29, 2026, 5:20:57 p.m. ET (aggregate last updated 5:19 p.m. ET). Data: CoinMarketCap. Pack: drop/2026-10-29-liquidation-spike-1705/pack.md (sha256 64558eaa78b121fde73b6026993f49b7be97ff935f4b67ebd2883e724d7ee1c7).
Holding the Corner.
Not financial advice.