Crypto Giants: Coinbase's Big Win, IBIT's Slip, and REX's Bold Move

Coinbase had a stellar third quarter, raking in nearly $1. 9 billion in revenue. This is a big deal because it shows the company is bouncing back from earlier slumps. Trading volumes are up, and so are profits from other services like staking and custody. Plus, their Ethereum Layer 2 project, Base, is already turning a profit. Despite a slight dip in share price, Coinbase is looking strong. They're also expanding their offerings, adding thousands of new assets for investors. But with more assets come more risks, especially with complex products like perpetual futures. Meanwhile, Bitcoin ETFs took a hit when Bitcoin's price dropped below $110, 000. BlackRock's IBIT saw massive withdrawals, losing nearly $291 million in a single day. Even though IBIT is still a big player with over $88 billion in assets, this week's volatility shows how quickly things can change. REX Shares is making waves with its new ETF, ULTI. This fund focuses on volatile stocks, including crypto-related companies like Core Scientific and Gemini. It uses options to turn market swings into regular payouts. For investors looking for a mix of crypto exposure and steady income, ULTI is an interesting choice. It's another example of how Wall Street is finding new ways to package crypto into traditional investment products. In other news, Bitcoin miner Core Scientific's merger with CoreWeave fell through. Investors backed out, showing that even in the crypto world, not all deals go as planned.