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The Dollar Has Lost 96% of Its Purchasing Power in a Century: Galaxy Research on How Free Markets in Money Could End the Currency Monopoly
BTCGalaxy ResearchFree Market in MoneyDenationalization of Money
The Dollar Has Lost 96% of Its Purchasing Power in a Century: Galaxy Research on How Free Markets in Money Could End the Currency Monopoly
In the second installment of its series, Galaxy Research examines free-market money. Government monopoly over currency issuance has erased 96% of the dollar's purchasing power over the past century; since 2008, M2 has doubled to $17 trillion, the dollar has depreciated 16% in a decade, and debt-to-GDP has climbed 31 percentage points. The author argues that conventional CPI understates true inflation, particularly by ignoring asset-price gains. The rise of Bitcoin and crypto assets has opened the door to currency competition, potentially letting the market—not government decree—determine the monetary standard and pushing the dollar back toward soundness.
BTCGalaxy ResearchFree Market in MoneyDenationalization of Money1 hour ago
A Thousand-Year Epic of Sound Money: From Roman Currency Debasement to FDR's Gold Confiscation to Bitcoin's Ultimate Answer
Galaxy Research traces the millennia-long divide between sound and unsound money—from Rome's debasement of its coinage and the suspension of gold convertibility in WWI to FDR's 1933 Executive Order 6102 confiscating private gold, along with hyperinflation and the Cantillon effect. The article argues that central bank money printing destroys the incentive to save, distorts capital allocation, and deepens recessions. It contends that Bitcoin, a digital sound money whose supply is governed by mathematical rules, may offer a remedy to the flaws of the fiat system, while cautioning that mass adoption of a non-sovereign currency conflicts with the interests of sovereign states and central banks, so the road ahead will not be smooth.
BTCCantillon EffectSound MoneyCentral Bank Money Printing1 hour ago
Why Coinbase's Bitcoin Discount Just Hit a Yearly High
The article examines the Coinbase Bitcoin Premium Index falling to a yearly low of about -0.06%. At first glance it looks like US capital is selling off, but in reality Binance froze deposits and withdrawals after a hack on October 29-30 (roughly $6.3 billion stolen), crippling cross-exchange arbitrage and trapping liquidity on the platform, which artificially widened the discount. Binance began restoring BTC and ETH withdrawals in phases on November 1. The article notes that if the spread converges quickly, it's a technical anomaly; if it keeps widening, it may signal a genuine cooling of US capital.
BTCexchange securityCoinbase Premiumliquidity freeze8 hours ago
Crypto Stock Boom: Ethereum-Tokenized Equities Surge to $827 Million After 170% Growth
Tokenized stocks on Ethereum grew 170% in a year to reach $827 million by late October 2026, signaling that the RWA sector has moved beyond the experimental stage. About 86% of tokenized equities use a stablecoin-style 1:1 fully collateralized model that doesn't require direct involvement from the original securities issuers. Ethereum holds a 53.8% share of the global stablecoin market, and its mature infrastructure is now extending into traditional securities. Meanwhile, open interest in tokenized stocks on decentralized derivatives platforms like Hyperliquid has reached $1.76 billion, with its native HYPE token trading around $87.70 as the platform spends $1.24 million daily on HYPE buybacks.
ETHtokenized stockstokenizationHyperliquid9 hours ago
XRP Tests Critical $1.25 Support as Liquidation Map Points to a Local Bottom
XRP has steadied near $1.25 after an almost 19% drop in October and is now testing its 200-week moving average ($1.25–$1.28), a key support zone. The $6.3 billion Binance hack weighed on the market, but heavy buying at lower levels suggests a local floor is forming. CoinGlass data puts the key long liquidation level at $1.2292, with a 54% chance of being tested within 24 hours, while short resistance sits at $1.4292. About $37.6 million in longs have already been liquidated this month. Ripple's new RLUSD stablecoin, launched at Swell, has temporarily diverted demand from XRP, and U.S. XRP ETF assets have fallen to $1.42–$1.47 billion amid the price decline. Holding $1.2292 and reclaiming $1.3145 could confirm a bottom, while a break below $1.20 may open the door to $0.98–$1.00.
XRPXRP ETF10 hours ago
OKXICE Hit by 50 Issuer Objections as Nvidia and Nike Join Opposition
OKXICE, a joint venture between OKX and NYSE parent Intercontinental Exchange (ICE), plans to launch tokenized stock trading but has drawn objections from 50 listed companies. Twelve firms including Nvidia, Nike, Costco, Micron, and Reddit joined the opposition on October 30, expanding the list from 26 on October 26 to 50. Under SEC rules, issuers can block unauthorized third-party tokenized shares from trading on the platform by filing timely objections. OKXICE had planned to offer 24-hour tokenized stock trading through permissioned liquidity pools on XLayer.
LINKIntercontinental Exchangeissuer objectionstokenized stocks10 hours ago
Ripple News: 1 Billion XRP Unlocked as Price Holds Near $1.25
Ripple released a total of 1 billion XRP on November 1 through two escrow transactions of 500 million XRP each, valued at roughly $624 million apiece. Blockchain trackers confirmed this was part of the company's established monthly escrow release schedule, not unusual activity. Ripple re-locked 700 million unused tokens in October, but the November re-lock transaction has yet to be confirmed, so the month's net release remains unclear. The news drew social media attention, but XRP's price reaction was muted, trading around $1.25 with a 24-hour gain of just 0.08%.
XRPescrow releaseToken UnlockPrice Action10 hours ago
Strategy Buying More Bitcoin? Michael Saylor Drops Sunday Hint
Michael Saylor posted his signature orange accumulation chart on Sunday, hinting that Strategy may be buying more Bitcoin. The company held 848,517 BTC as of October 25, with an average purchase cost of $75,437 as of September 30. Bitcoin traded around $77,804 on Sunday after a sharp late-October selloff and the impact of a $6.3 billion Binance hack. U.S. spot Bitcoin ETFs saw $643.2 million in outflows on October 30 and roughly $516 million in net outflows for October. The article also notes Strategy's net addition of 1,666 BTC in Q3 and financing activities including STRC preferred stock buybacks.
BTCspot Bitcoin ETF outflowsBitcoin purchaseBTC Accumulation11 hours ago
China Calls for Stricter Crackdown on Crypto Bribery and Corruption
On October 29, the Central Committee of the Chinese Communist Party adopted a resolution calling for a tougher crackdown on corruption involving cryptocurrency, blockchain, and cross-border fund transfers. The resolution targets officials who accept bribes in virtual currencies, hide assets through third parties, or move illicit wealth abroad, and calls for stronger international cooperation, overseas corruption investigations, and asset recovery. The article notes that the resolution introduces no new ban on crypto trading and does not name USDT, OTC desks, or offshore exchanges; existing Chinese regulations already cover crypto trading services, stablecoins, and unauthorized cross-border financial activity.
12 hours ago
Premia Labs Loses $464K in Arbitrum Exploit as Hacker Converts Funds to BTC
Premia Labs' options vaults on Arbitrum were exploited for roughly $464,600. The attacker created empty option pools, took out flash loans, and bought options to lock up vault collateral before withdrawing it as liquidity. The stolen assets were moved from Arbitrum to Ethereum, then swapped into Bitcoin via Chainflip and NEAR Intents. PeckShield and Blockaid both confirmed the incident, and on-chain analysis identified six affected vaults involving WBTC, WETH, USDC.e, and ARB.
BTCflash loan attackArbitrum exploitfunds laundering12 hours ago