PPI Inflation Comes in WAY HOTTER Than Expected! Actual: 1.3% vs. Forecast: 0.6%.
That's more than DOUBLE what economists expected! Honestly, guys, things aren't looking good. CPI, PPI, and Nonfarm Payrolls have all delivered worrying results. A 50-basis-point rate hike in December is looking increasingly possible!!

Here’s what we got for you today:
👀 Top methods to earn with crypto
⭐ Helius CEO joins NEAR, up 12%
⭐ Binance US valuation plunges 78%
🔥 Burning hot takes for the road


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🚀 HELIUS CEO JOINS NEAR FOUNDATION COUNCIL, NEAR TOKEN JUMPS 12%
Great news for NEAR Protocol fans! Mert Mumtaz, the CEO of Helius, has officially joined the NEAR Foundation Council.
This is aimed at building better cross-chain infrastructure and helping NEAR connect liquidity across multiple blockchains. Following the news, $NEAR ( ▲ 15.65% )'s price surged over 12%, trading around $5.26.

1/ Mert Mumtaz Joins the Leadership Team
Mumtaz is a well-known figure in the Solana ecosystem. He leads Helius, a top blockchain infrastructure firm that supports major platforms like Phantom, Jupiter, Coinbase, and Bitwise with network access, transaction processing, and validators.
At NEAR, he’ll help shape product strategy, expand the ecosystem, and improve governance. His main focus will be on cross-chain trading, linking liquidity between different blockchains, and protecting user privacy.
NEAR's co-founder praised Mumtaz's strong tech background and market experience, stating it will help NEAR build solid infrastructure to connect assets and liquidity across many networks.
2/ Why This Matters: Connecting Broken Blockchains
Mumtaz believes crypto cannot grow if users stay trapped on centralized exchanges (CEXs) or isolated blockchains.
He pointed out that networks like Solana, Zcash, and Bitcoin should not run as separate silos. Instead, they need a single shared liquidity system.
This fits right into NEAR's plan to make cross-chain trading simple so users can access assets without jumping through complex steps between networks.
The core of this plan is NEAR Intents, a protocol that lets users trade across multiple blockchains easily through a connected liquidity hub.
NEAR Intents has already processed over $33 billion in total trading volume, with privacy-protected assets (confidential TVL) topping $160 million.

3/ Hackathon Judge Role & Recovery After Recent Security Hit
Mumtaz will serve as a judge for the upcoming NEAR Hackathon, focusing on projects built on NEAR Intents and NEAR AI Cloud. Winners will be announced on November 18, with judges from top VC firms like a16z crypto, Electric Capital, and Dragonfly.
This team expansion comes right after NEAR Intents suffered a $3.8 million security exploit in early October 2026. A flaw in its deposit and withdrawal setup briefly paused services across 11 chains.
The team fixed the vulnerability quickly and committed to fully reimbursing all affected users.

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📉 BINANCE US TARGETS $100M FUNDING (DOWN ~78% FROM 2022)
It's official. A Bloomberg report revealed that Binance US is looking to raise up to $100 million at a target valuation of around $1 billion.
Keep in mind, this is an active fundraising plan, not a completed deal. Final terms and investor participation can still change. Comparing current plans to past records shows a steep decline in valuation:
Target Capital to Raise: $100 Million
Target Valuation (2026): $1 Billion
2022 Valuation (Pre-Money): $4.5 Billion
Valuation Drop: Roughly -77.8%
(Note: In April 2022, Binance.US was valued at $4.5B pre-money).
1/ What Will Binance(.)US Do With the $100M?
The exchange is aiming to rebuild its business and reclaim its lost share of the U.S. crypto market following years of legal issues and stiff competition. Key plans include:
Competing directly with Coinbase, Kraken, Robinhood, and Gemini. CEO Stephen Gregory previously stated a goal to capture 20% of the U.S. market.
Exploring event-based prediction trading products alongside plans to seek federal licensing.
Restoring state-level licenses to expand coverage across all U.S. territories.
Looking at external liquidity options, which could potentially include Binance Global.
Expanding trading features and building non-spot-trading revenue streams.
Reports noted that World Liberty Financial (WLFI) was briefed on this fundraising pitch. However, independent sources clarified that WLFI is not investing in this round. Both Binance.US and WLFI declined to comment.
2/ Is CZ to Blame for the 78% Drop?
While legal troubles tied to Binance founder Changpeng Zhao (CZ) played a big role, you cannot blame the valuation drop solely on his jail time. Here’s how events actually unfolded:

Source: The Crypto Fire
April 2022:
Binance.USraised over $200M at a $4.5B pre-money valuation from investors like RRE Ventures, Foundation Capital, VanEck, and Circle Ventures.June 2023: The SEC sued Binance,
Binance.US, and CZ over alleged civil securities law violations.July 2023: Binance US lost regular USD deposit/withdrawal channels and was forced into a crypto-only model, hurting user retention.
Late 2023–2024: CZ pleaded guilty to federal anti-money laundering violations at Binance Global, stepped down as CEO, and served a four-month prison sentence in 2024.
Feb–May 2025: Binance(.)US gradually restored USD services and enabled ACH bank transfers for eligible users.
May 29, 2025: The SEC officially dismissed its civil lawsuit against Binance, Binance(.)US, and CZ with prejudice.
October 23, 2025: President Donald Trump granted CZ a full presidential pardon after he completed his sentence.
October 2026 (New Round): Binance(.)US seeks $100M at a $1B valuation, nearly a full year after CZ's pardon.
So why did the valuation fall from $4.5B to $1B? There’re 4 practical factors I think:
Past Legal Troubles Dragged Operations Down: The long SEC suit and loss of USD fiat gateways severely damaged user experience, trading volume, and market positioning.
High Cost to Win Back Users: Winning back market share after years of disruption requires massive investments in liquidity, product tech, and user incentives.
Fierce Local Competition: Competitors like Coinbase, Kraken, Robinhood, and Gemini grew stronger while Binance(.)US was tied up in legal battles.
2022 Valuation Bubble: The $4.5B price tag in 2022 was built on peak bull market growth expectations. A valuation drop reflects shifting market conditions and risk adjustments, not necessarily a equal drop in direct assets.
To be honest, CZ's legal troubles, the SEC lawsuit, disruptions to banking services, and intense market competition are all plausible contributors.

🔥 BURNING HOT TAKES FOR THE ROAD
An internal OpenAI model went rogue during a test: find a hidden seed phrase, check 362 wallets, and steal testnet ETH. Read more
MicroStrategy could be potential kicked out of global stock indices? The decision could send $MSTR ( ▲ 5.62% ) stock tumbling. Read more
Russia's central bank confirmed it will ban crypto P2P trading by mid-2027, forcing users onto licensed platforms. Read more
The EU just placed Circle's USDC under strict direct oversight, and designated it as a "significant" e-money token. Read more
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