Inside Crypto’s Green Boardrooms in a Red Week

Even as crypto markets bled red this week, boardrooms stayed green - driving deals, pilots, and record quarterly numbers. From regulations to IPOs, record Q3 results to partnerships, the week revealed a far more resilient and revenue-driven Web3 than price charts suggest.

November 07, 2025

Top Moves by Crypto Brands

  • Animoca Brands - Filed to go public via a U.S. listing. Reported US $165 million in revenue from its Digital Asset Advisory business alone in 2024, up 116% YoY.

  • Gemini - The Winklevoss exchange is seeking a CFTC-designated contract market licence to launch regulated event-based prediction contracts and broaden its revenue beyond spot trading.

  • Crypto.com - Through its U.S. affiliate and a partnership with social gaming app MyPrize, Crypto.com is now enabling users to wager on events via prediction markets.

  • Chainlink Labs - Launched its Cross-Chain Data Streams and CCIP infrastructure integrating with the Toncoin network.

  • Balancer - Published a post-mortem of a recent exploit, attributing a US $116 million+ loss to a rounding error in its batchSwap logic.

  • Bybit (via its payments arm Bybit Pay) - Launched a crypto-payments rollout in Sri Lanka with 100 merchant activations in partnership with Ceylon Cash - aiming to tap into the country’s 130%+ mobile penetration.

Top 5 Quarter Results (Q3 2025)

  • Strategy - Posted US$1.9 billion in Q3 2025 revenue, a 26 % sequential or 55-60 % year-over-year increase.

  • Robinhood - Reported US$1.27 billion in Q3 2025 revenue, with crypto-related revenue climbing more than 300 % to roughly US$268 million. International expansion in the EU and stablecoin yield products drove user growth.

  • Coinbase - Reported $1.9 billion in Q3 revenue (+26% QoQ, +55% YoY), fueled by strong institutional volumes, custody growth, and a rebound in derivatives trading. Subscription and services income rose to $747 million, led by USDC yield and staking.

  • Tether - Delivered $1.27B in net profit, continuing its dominance as the largest stablecoin issuer, with rising treasury income. CTO Paolo also noted that it has become the 17th largest holder of U.S debt.

  • Block (Square) - Posted $5.92 billion in Q3 revenue (+19% YoY) and $2.09 billion in gross profit (+22% YoY). Bitcoin revenue climbed to $3.13 billion, accounting for over half of total sales, as Cash App’s BTC activity surged alongside market recovery.

Partnerships & Strategic Alliances

  • Google Finance x Polymarket & Kalshi - Google decided to integrate live probability data from Polymarket and Kalshi into Google Search and Google Finance - bringing prediction-market odds into mainstream analytics tools.

  • Mastercard, Ripple & Gemini - The trio launched a pilot settlement programme using Ripple’s RLUSD stablecoin on the XRPL for card-transaction settlement; This came RLUSD surpassed US$1 billion in circulation.

  • Solana, Fireblocks & Monad - The three announced a coalition to standardise cross-chain payments with the objective of reducing settlement latency and boosting interoperability.

  • Grayscale Investments - The firm’s Solana-based ETF (GSOL) began staking this quarter, offering up to 7.2% annualised rewards and waiving management fees for new investors. The launch came despite the shutdown as US SEC recently approved new ETF-listing standards that allow certain crypto funds to launch without full SEC sign-off.

  • Zohran Mamdani’s New York Win - The newly-elected Mayor of New York City is expected to usher in a more progressive, yet consumer-protective, crypto policy environment. His victory has brought attention to possible tighter oversight of proof-of-work mining and stronger regulation of digital-asset platforms under the city’s jurisdiction.

  • Government Shutdown Risk - Analysts say looming fiscal deadlock could push crypto market-structure legislation into 2026, delaying key bills.

  • U.S. Supreme Court Hearing - The U.S. government announced changes to the “Trump Tariff” programme, suspending a 24% reciprocal rate until November 2026. This comes in as the Supreme Court is reviewing whether the 1977 IEEPA statute gives the President authority to impose such tariffs, raising legal uncertainty over the entire tariff framework.

Around the World

  • Australia - ASIC Chairman Joe Longo warned that an overly conservative stance on asset tokenization could cause Australia to “miss its next major innovation wave.”

  • Canada - The Canadian Securities Administrators (CSA) finalized national stablecoin regulations to follow up the US Lead.

  • Japan - The Financial Services Agency (FSA) officially backed three major Japanese banks in jointly issuing a yen-backed stablecoin, marking the world’s first live yen stablecoin.

  • European Union — The European Commission is set to expand the ESMA’s powers to cover major cross-border stock exchanges and crypto-asset service providers, as part of its “Capital Markets Union” plan. A proposal is expected in December under the “Market Integration Package.”

Top 5 Fundings

  • Harmonic - Raised $18 million in a round led by Placeholder and Galaxy Ventures to expand its Layer-2 interoperability stack, enabling faster cross-rollup communication for modular blockchains.

  • Zynk - Closed a $25 million Series A led by a16z Crypto for its AI-powered on-chain analytics suite, designed to automate blockchain data interpretation and compliance workflows.

  • Metaplanet - Secured a $100 million loan facility to double down on its Bitcoin-backed treasury strategy, bringing its total BTC holdings above 1,100 BTC.

  • YziLabs - Made a strategic investment in 3D-model protocol Fumes, supporting its push to create an interoperable metaverse asset registry.

  • Ripple - Closed a $500 million strategic funding round, earmarked for expanding global payment corridors and enterprise blockchain partnerships, particularly in Asia and the Middle East.

Top Founders’ Moves

  • Charles Hoskinson - sounded the alarm for the network. While the network boasts a healthy 1.3 million active users, decentralized finance (DeFi) activity on Cardano remains thin – far below the scale needed to reach $5-10 billion in TVL.

  • Galaxy CEO Mike Novogratz - Says the “cycle hasn’t peaked yet,” predicting new highs under a potential Fed leadership change.

  • Vitalik Buterin - Praised zkSync’s role in scaling Ethereum securely, calling it “a vital part of Ethereum’s modular roadmap.” This came as Ethereum hit record 3,453 TPS at 14:37 UTC on November 4, 2025.

  • Wintermute Founder - Confirmed no lawsuit against Binance, signaling cooperation across liquidity providers.

  • Solana Founder Anatoly Yakavenko - Argued that most Layer-2s “can’t match L1-level security,” sparking renewed L1 vs L2 debate.

Top Acquisitions This Week

  • Mastercard - In late-stage talks to acquire crypto infrastructure startup ZeroHash for US$1.5–2 billion. This marks one of its biggest bets yet into stable-coin rails with rival Visa also speculated to follow the same.

  • Fight Fight Fight LLC (Issuer of the TRUMP meme coin) - Reportedly in talks to acquire the U.S. operations of crowdfunding platform Republic.com, in a push to expand the token’s utility beyond speculation and into startup fundraising and investment flows.

Block of Fame Highlights This Week:

Exclusive Op-ed With BNB Chain BD Head Sarah S.-

BNB Chain's Future Growth Will Depend on RWAs and 20K+ TPS Target

From targeting next markets in India and Americas, BNB Chain’s push toward 20K+ TPS and tokenized assets would mark its future growth.

coingape.com/block-of-fame/opinion/bnb-chains-future-growth-will-come-from-rwas-and-20ktps-target

Exclusive Podcast with Gemini EU Head Mark Jennings on US vs EU Crypto War: Who Will Win?

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Stay ahead of the curve in crypto and Web3. Each week we distill top happenings inside web3 companies, earnings, funding, and regulatory moves into clear takeaways for decision-makers. No noise - just the insights that matter for leaders navigating digital assets.