Daily Market Wrap | Nov. 07

Hot Topics

• Elixir retires deUSD after Stream's $93M loss.
• Japan's FSA backs stablecoin pilot by three major banks (Mizuho, MUFG, and SMBC) for joint electronic payment issuance, advancing blockchain payments.
• Ether falls to $3,331 as support breaks despite $1.37B whale buys; Bitcoin holds $102K while SOL, XRP, DOGE pull back.
• Flowdesk says crypto credit strikes fragile balance post-Stream's $93M loss and $20B crash, with steady borrowing demand for BTC/SOL hedging and compressed yields in low-risk pools.

Market Updates

• Tesla shareholders approve Elon Musk's $1T pay package with 75%+ votes, igniting memecoin frenzy led by "TRILLIONS" token that surges then crashes amid exit scams.
• Bitwise's spot Dogecoin ETF could launch in U.S. within 20 days if SEC approves, but DOGE technicals signal bearish amid whale sell-offs.
• Google integrates Polymarket and Kalshi prediction market odds into Search and Finance for real-time event forecasts like elections.