The Block

The House passed the Clarity Act over a year ago. The Senate still hasn't acted. What's holding it up, and what happens next? We're taking that question to D.C. on November 19. Don’t miss it 👇

RT @gazza_jenks: Did you know that Michael Saylor orange-pilled Anthony Scaramucci on Bitcoin. @Scaramucci recalls meeting @saylor in 2020 after @Strategy made headlines converting its treasury into $BTC. "He's really one of the smartest people I've ever met in my life." Scaramucci then went about making ‘6-figure’ Bitcoin purchases for @SkyBridge clients. His take on Strategy: 👇 People should do more homework on the "fortress balance sheet" 👇 Saylor is "going to be right" 👇 Short-termers may be disappointed, but four or five-year holders will be "incredibly well rewarded"

THE BLOCK: Robinhood's crypto revenue rose 20% from Q2 to $120 million, boosted by $26 million from Robinhood Chain. $HOOD Excluding the blockchain's contribution, crypto trading revenue fell 6% despite a rebound in trading volumes.

THE BLOCK: The CFTC has now sued its 10th state — Utah — in its fight for regulatory jurisdiction over prediction markets. "As I’ve said before, the CFTC has the expertise and responsibility to defend its exclusive jurisdiction over commodity derivatives, and that’s exactly what we’ll do," said CFTC Chair Michael Selig in a statement on Tuesday.

“Utility. That is the holy grail.” At TOKEN2049, @thomasxchen, chief business officer of @BNBCHAIN, on tokenization and AI: • bStocks hit $1B in TVL within about three months. • Memes still drive most tokenized stock volume. • Tokenization is in the “bottom of the first inning,” and distribution is the real unlock.

THE BLOCK: Crypto. com and OG. com are rolling out regulated crypto perpetuals in the U.S. today with up to 5x leverage. The contracts have no expiration date and let traders bet on crypto prices rising or falling.

EXCLUSIVE: Canton-based trading platform Cancore raises $7.2 million at $60 million token valuation

“When bitcoin’s at $300,000, people will be looking back saying, wow, why didn’t I own some of that.” @Scaramucci of @SkyBridge on @saylor and @Strategy: Not a short-term trade. Hold four or five years to be “incredibly well rewarded.”

THE WHITE PAPERS: AI agent, POS device, or checkout page. The front end keeps changing, but the merchant’s question stays the same: can you pay? @LydianPay’s Nikolas Huth on being the last-mile layer of payments: “Whatever form that front end takes is less relevant to us.”

THE WHITE PAPERS: Dollars, euros, pesos. Merchants already accept them without thinking twice. @LydianPay’s Nikolas Huth says digital assets should be no different: “Take that complexity away and make it as simple as anything else.”

THE BLOCK: SoFi reported $161.6 million in gross crypto transaction revenue in the third quarter, up 20% from the previous quarter, following its return to crypto trading in late 2025. However, net crypto transaction revenue totaled just $1.6 million after accounting for associated costs.

THE BLOCK: A Missouri man pleaded guilty after being involved in a robbery and kidnapping scheme to steal bitcoin, stalking their target and his parents. However, the man feared being caught on security cameras and fled before the plan was carried out, prosecutors said. He faces up to 20 years in prison.

THE BLOCK: Ripple expands BNY partnership to add $XRP and $RLUSD to its institutional custody platform. The companies said they are also exploring tokenized trade finance on the XRP Ledger, including a supply chain finance initiative with C2FO.

THE WHITE PAPERS: Two years ago, selling crypto payments to processors meant teaching a class first. "A lot of the work that we were doing was frankly educational." Lydian says that lag is gone. Processors and acquirers now come in already knowing how stablecoins work.

ft @LydianPay @imyoungsparks