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Here are 5 Things to Know in Crypto This Week… 💡

Crypto Inflows Reach $3.4 Billion in October, Bitcoin Flirts with $70k 🐂

• Digital asset investment products saw $901 million in net inflows last week, pushing October's total to $3.4 billion, per CoinShares.

• The inflows are attributed to Republican poll gains ahead of the U.S. election, with Bitcoin-based funds leading the charge at $920 million in net weekly inflows.

• U.S. spot Bitcoin ETFs, particularly BlackRock’s IBIT, contributed significantly with $997.6 million in net weekly inflows.

• Ethereum-based funds experienced net weekly outflows of $34.7 million, while blockchain equities and Solana products saw inflows of $12.2 million and $10.8 million, respectively.

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Tether's Paolo Ardoino: 'If the U.S. Government Wanted to Kill Us, They Can Press a Button' 🔴

• Tether CEO Paolo Ardoino emphasized the company's compliance with international sanctions and cooperation with law enforcement, stating that Tether is ultimately at the mercy of U.S. authorities.

• Ardoino dismissed allegations of Tether's involvement in illicit finance, comparing its role to a "drop in the ocean" relative to the U.S. dollar's use in such activities.

• A Wall Street Journal report claimed Tether is under U.S. criminal investigation, which the company denied, calling the report "wildly irresponsible."

• Tether's significant U.S. Treasury holdings, managed by Cantor Fitzgerald, place it among the top 20 holders globally.

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Robinhood Enters Betting Arena with Presidential Election Wagers 🗳️

• Robinhood has introduced a new feature allowing users to bet on the 2024 presidential election, entering a market previously dominated by smaller platforms like Polymarket.

• The U.S. gambling industry is projected to generate $24.98 billion in revenue in 2024, a 22% increase from 2023.

• Alongside the betting feature, Robinhood launched "Robinhood Legend," a free trading platform with customizable charting and streamlined options trading.

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Vitalik Buterin Hits Back at Ethereum Foundation Critics: 'Show Some Respect' 👊

• Vitalik Buterin, Ethereum co-founder, denied claims on Twitter that he sold any ETH in the past month, stating his holdings have actually increased.

• Buterin defended the Ethereum Foundation against accusations of market dumping, explaining that fund movements are to pay researchers and developers.

• He highlighted the Foundation's contributions, such as reducing Ethereum's annual loss of 5M ETH to proof of work and improving transaction speeds.

• The Foundation's $94 million ETH transfer to Kraken in August was part of treasury management, not an immediate market dump, with strategies like limit orders to minimize impact.

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Coinbase introduces 'Based Agent' for creating AI agents in 3 minutes 🤖

• Coinbase has launched "Based Agent," a tool enabling users to create AI agents with crypto wallets in under three minutes, capable of performing onchain tasks like trades, swaps, and staking.

• The tool uses a template built with Coinbase’s SDK, OpenAI, and Replit, requiring API keys from Coinbase and OpenAI to get started.

• CEO Brian Armstrong highlighted the ease of creating AI agents, following his recent advocacy for AI-managed crypto wallets.

• Armstrong previously offered the AI chatbot Truth Terminal its own crypto wallet and oversaw a fully AI-managed crypto transaction.

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