Bitcoin’s volatility has cooled—but that might be exactly what institutional investors want. Meanwhile, privacy coins like Zcash and Monero are surging, DeFi faces a $125M Balancer exploit, and traders are testing the limits of pre-market perps ahead of Monad’s Coinbase ICO. Plus, the team reflects on three years since FTX’s collapse and what the next phase of crypto market maturity looks like. This video was recorded on Monday, November 3, 2025. Keep in touch: ▸ Follow us on Twitter: https://x.com/galaxyhq & https://x.com/glxyresearch ▸ Read our research at /research ▸ Subscribe to receive Galaxy Research's weekly newsletter: /subscribe-to-r... Participants, along with Galaxy Digital, hold a financial interest in bitcoin. Galaxy Digital regularly engages in buying and selling bitcoin, including hedging transactions, for its own proprietary accounts and on behalf of its counterparties. Galaxy Digital also provides services to vehicles that invest in bitcoin. If the value of such assets increases, those vehicles may benefit, and Galaxy Digital’s service fees may increase accordingly. This video, and the information contained herein, has been provided to you by Galaxy Digital Holdings LP and its affiliates (“Galaxy Digital”) solely for informational purposes. View the full disclaimer at /galaxy-digital...