🐝👑 Robinhood's Q3, the crypto side 👇 🔸 Crypto revenue: $120M, down 55% from a year ago 🔸 Robinhood Chain brought in $26M in its first quarter. It is a layer 2 built on Arbitrum $ARB 🔸 Crypto trading volume: $50B, down 38% from a year ago 🔸 Prediction markets revenue: $173M, now bigger than crypto One app's numbers, but a useful read on how active everyday traders were in Q3. NFA. Always DYOR.

🐝👑 Same window, ETF money 👇 US spot $BTC ETFs, net flows from Sep 17 to Oct 23: 🔸 Sep 21-25: +$2.39B, the biggest week 🔸 October through Oct 23: -$313.5M 🔸 Whole period: +$2.61B, with BlackRock's IBIT at +$2.30B US spot $ETH ETFs: -$427M over the same days, with net outflows four weeks in a row. Farside's Oct 26 and 27 rows are still incomplete, so they are left out. NFA. Always DYOR.

🐝👑 US stocks open now. What to watch, ET 👇 🔸 2pm: Fed rate decision 🔸 2:30pm: Fed Chair Kevin Warsh's press conference 🔸 After the US close: Alphabet and Microsoft earnings 🔸 Thu 8:30am: first estimate of US Q3 GDP, plus September income and spending data, which includes the Fed's preferred inflation gauge 🔸 Thu after the close: Amazon and Intel earnings Rate news and big tech results move risk appetite, and $BTC and $ETH trade in that same mood. NFA. Always DYOR.

🐝👑 Bitcoin between two Fed meetings 📊 $BTC daily price, CoinGecko, 00:00 UTC readings: 🔸 Sep 16, the day the Fed last raised rates: $75,590 🔸 Sep 17, the day after: $76,147 🔸 Sep 22, highest reading since: $86,597 🔸 Oct 28: $80,801 That is about 6% above the day after the hike and about 7% below the Sep 22 high. Next decision: today, 2pm ET (18:00 UTC). NFA. Always DYOR.

🐝👑 B Comics #004: Not Your Keys, Not Your Coins 🔑 Buzz buys $BTC on an exchange and thinks it's all his. B asks one simple question: who holds the keys? Exchanges vs self-custody, in 4 panels and plain English. Read the full comic on thecryptob.com 👇 NFA. Always DYOR.

🐝👑 What does a Fed decision mean for crypto? Plain English 👇 The Fed sets a target range for the rate US banks charge each other overnight. It is 3.75% to 4% now, after a hike on Sep 16. 🔸 Higher rates make borrowing cost more and make safe yields look better, which can pull money away from riskier assets like $BTC and $ETH 🔸 Lower rates tend to work the other way 🔸 Markets price the decision in ahead of time, so what the Chair says about next steps can matter as much as the decision itself Today: decision at 2pm ET (18:00 UTC), press conference at 2:30pm ET (18:30 UTC). NFA. Always DYOR.

🐝👑 GM #crypto fam ☀️ Fed day coffee headlines: 🔸 $BTC near $80,800, down about 2% on the week, with the Fed decision at 2pm ET 🔸 Datavault AI says a bitcoin withdrawal it asked an exchange for in June still hasn't gone through. Its stock fell about 50% 🔸 The US CFTC sued Utah to stop the state's case against federally regulated prediction markets NFA. Always DYOR.

🐝👑 Tuesday wrap 👇 🔸 $BTC near $80,500, down about 2.7% on the week, one day before the Fed decision 🔸 Ripple got final approval for a US national trust bank for its $RLUSD reserves 🔸 Canada opened a 60-day consultation on its stablecoin rules 🔸 Strategy bought no bitcoin last week and spent $204.9M buying back its own preferred shares 💬 Your turn, fam: do you buy on a fixed schedule, or wait for the price to feel right? Why? NFA. Always DYOR.

🐝👑 🇨🇦 Canada drafts its stablecoin rules 🔸 Every coin backed 1:1 by cash, short-term government debt or money funds holding only those 🔸 Reserves kept with a Canadian custodian, out of creditors' reach if the issuer fails 🔸 Redeem any amount within 3 business days, fees capped at 1% 🔸 No interest just for holding a coin Comments close around Dec 23. Target start: fall 2027. The US GENIUS Act also bars issuers from paying interest, though platforms like Coinbase still offer rewards on $USDC held with them, Decrypt notes. NFA. Always DYOR.