Briefs · Evening brief
The FOMC held the federal funds target range at 3-3/4 to 4% on a 10–2 vote; bitcoin closed the U.S. session at $81,515.60 on CoinGecko's 4:00 p.m. ET 5-minute print; and DTCC's DTC launched its Tokenization Service with more than $114 trillion in assets under custody cited.
The Federal Open Market Committee held the target range for the federal funds rate at 3-3/4 to 4 percent on a 10–2 vote, with Governors Lisa D. Cook and Beth M. Hammack dissenting in favor of a 25 basis-point increase. Separately, the Depository Trust Company, a DTCC subsidiary, launched the DTCC Tokenization Service for custody-backed digital twins of DTC-custodied securities, citing more than $114 trillion in assets under custody and 20 signed Participants. [4][6]
Bitcoin closed the U.S. session at $81,515.60 on CoinGecko's 4:00 p.m. ET 5-minute print. Crypto short liquidations led longs over the past 24 hours, at $140.5M versus $51.6M. [1][3]
Bitcoin, ether and solana each ended the U.S. session higher on a rolling 24-hour basis. CoinGecko USD prices: Wednesday 4:00 p.m. ET close (5-minute points) and rolling 24-hour change to a post-close snapshot at 4:10 p.m. ET. Powered by CoinGecko API. [1]
| Asset | Wed 4:00 p.m. ET (5-min) | Rolling 24h (to ~4:10 p.m.) |
|---|---|---|
| BTC | $81,515.60 | +0.93% |
| ETH | $2,369.21 | +1.15% |
| SOL | $102.91 | +1.98% |
Total crypto market value was $2.73 trillion at about 4:11 p.m. ET, up 0.96% over 24 hours; bitcoin's share was 60.02%, and ether's was 10.63%. CoinMarketCap Fear & Greed stood at 47 (Neutral) with an update time of 4:08 p.m. ET. On CoinMarketCap's top-10 list at the same access, SOL was $103.14 (+2.02% rolling 24h), the largest non-stable 24-hour gain in that set. [2]
Largest rolling 24-hour gains among CoinGecko's top-50 coins by market cap (major stablecoins excluded), to about 4:10 p.m. ET. These are rolling 24-hour changes, not 4 p.m.–to–4 p.m. No catalyst is sourced for the movers. Powered by CoinGecko API. [1]
| Coin | Price (~4:10 p.m. ET) | Rolling 24h |
|---|---|---|
| Pepe (PEPE) | $0.00000513 | +13.19% |
| Bitway (BTW) | $1.72 | +6.53% |
| Pump.fun (PUMP) | $0.00457 | +5.95% |
| Litecoin (LTC) | $59.69 | +5.28% |
| LEO Token (LEO) | $9.42 | +4.18% |
Crypto short liquidations totaled $140.5M and long liquidations $51.6M over the past 24 hours to 4:10 p.m. ET. Liquidations are leveraged positions exchanges forcibly close when margin runs out; figures are USD value across exchanges CoinMarketCap tracks, crypto contracts only. Data: CoinMarketCap. [3]
Top five coins by 24-hour liquidations, past 24 hours to 4:10 p.m. ET:
| # | Coin | 24h total | Longs | Shorts |
|---|---|---|---|---|
| 1 | Bitcoin (BTC) (+1.0%) | $68.6M | $13.1M | $55.5M |
| 2 | Ethereum (ETH) (+1.2%) | $46.6M | $10.7M | $35.9M |
| 3 | Pepe (PEPE) (+13.9%) | $9.8M | $1.2M | $8.6M |
| 4 | Solana (SOL) (+2.1%) | $8.9M | $2.4M | $6.5M |
| 5 | Zcash (ZEC) (+1.0%) | $5.6M | $1.4M | $4.2M |
Non-crypto short liquidations totaled $31.0M and long liquidations $21.7M over the same 24 hours (metals, stocks, ETFs, energy; floor = non-crypto entries in CoinMarketCap's top-250 list). Data: CoinMarketCap. [3]
| # | Contract | 24h total | Longs | Shorts |
|---|---|---|---|---|
| 1 | Alphabet (GOOGL) (−6.3%) | $10.4M | $10.3M | $0.1M |
| 2 | SanDisk (SNDK) (+8.0%) | $6.5M | $1.4M | $5.2M |
| 3 | Crude Oil (CL) (+1.5%) | $3.0M | $0.8M | $2.2M |
| 4 | SpaceX (SPCX) (−2.6%) | $2.8M | $2.7M | $0.1M |
| 5 | Gold (XAU) (+0.3%) | $2.7M | $0.5M | $2.3M |
01 · FOMC holds the federal funds target range at 3-3/4 to 4% on a 10–2 vote; Cook and Hammack dissent for a 25 bp hike. The Federal Reserve issued its statement for release at 2:00 p.m. ET Oct. 28. The Committee maintained the target range and said it is continuing its policy of maintaining ample reserves. Voting against were Lisa D. Cook and Beth M. Hammack, who preferred to raise the target range by 1/4 percentage point at this meeting. The statement has no digital-asset, crypto, or stablecoin language. A Summary of Economic Projections table was not posted on the Fed paths checked this pass and is omitted here. The Implementation Note sets IORB at 3.90% effective Oct. 29, standing overnight repo at 4.0%, and the standing overnight reverse repo rate at 3.75% with a $160 billion per-counterparty daily limit. [4][5]
02 · DTCC's DTC launches the Tokenization Service for custody-backed digital twins. The Depository Trust Company on Oct. 28 launched the DTCC Tokenization Service, minting tokenized representations of DTC-custodied securities convertible between traditional and tokenized form. DTC cites more than $114 trillion in assets under custody. Twenty named DTC Participants have signed; networks live now are the Canton Network and DTCC's private Besu network, with more eyed for 2027. The path cites a December 2025 SEC No-Action Letter covering Russell 1000 constituents, index-tracking ETFs, and U.S. Treasuries. Figures are the DTCC press only. [6]
03 · CFTC sets a Dec. 15 roundtable on 24/7 derivatives trading. The Commodity Futures Trading Commission said Oct. 28 it will host a public, livestreamed industry roundtable at CFTC headquarters on December 15 on whether U.S. derivatives markets can move to around-the-clock trading, building on a summer Request for Comment. Release Number 9318-26 lists four discussion topics only: overnight trading; tokenization; infrastructure and staffing needs; and operational readiness. Agenda, speakers, and registration are still to be posted. [7]
04 · Strategy files 8-K on Daily Dividends for STRF, STRC, STRK, and STRD, subject to CoD effectiveness. Strategy Inc filed an 8-K Item 8.01 accepted at 10:28:08 a.m. ET after a Special Meeting: based on preliminary voting results, the requisite common-stock vote to amend certificates of designations for STRF, STRC, STRK, and STRD to permit daily dividends. Subject to filing and effectiveness of the amended CoDs, the daily record-date schedule is effective Nov. 1, 2026 for STRC and Jan. 1, 2027 for STRF, STRK, and STRD. Company X (@Strategy) states 99.3% of votes cast in favor; that tally is company-stated only and absent from the 8-K body. Cover coupons: STRF 10.00%, STRC variable, STRK 8.00%, STRD 10.00%. Distinct from the MSTR Q3 call Thursday. [8][9]
05 · Circle asks the SEC to align Regulation Crypto Assets with GENIUS payment-stablecoin rules. Circle Internet Group published an Oct. 28 blog summarizing an Oct. 20 comment letter in File No. S7-2026-27. The letter asks the Commission to coordinate the proposal with the GENIUS Act, treat GENIUS-compliant payment stablecoins as cash under proposed Rule 302(b), cut the current 2% broker-dealer haircut to zero for those tokens subject to objective safeguards, and draw a clearer line for post-functional technical services. Those are company requests, not Commission decisions. [10][11]
06 · Arcane and Predicate introduce an Enterprise Privacy Stack on Stellar. Arcane Finance and Predicate announced Oct. 28, per a Stellar.org press release, infrastructure combining transaction screening, confidential payments, and controlled investigation access for banks, fintech companies, and asset issuers. The brief cites the announcement only. [12]
07 · Ripple and Coinbase expand RLUSD access across Coinbase Prime, Exchange, and Retail. Ripple and Coinbase said Oct. 28 RLUSD is expanding onto Coinbase Prime, Exchange, and Retail in supported regions, with deposits and withdrawals across XRPL, Ethereum, and Base; RLUSD is live on Base, with Ripple providing Base liquidity. Ripple's press company-states RLUSD market capitalization surpassed $2.4 billion since the December 2024 launch. Availability for Coinbase Global Exchange, including RLUSD as collateral, will follow per the press. [13]
Holding the Corner.
Not financial advice.