Morgan Stanley downgrades COIN (Coinbase) to Underweight, projecting that crypto trading will further stagnate following Binance's attack.

According to IRNA, Iranian President Masoud Pezeshkian stated that the Supreme Leader has granted the government partial authority for negotiations. It should be noted that Iran’s strategic decisions remain under the control of the Supreme Leader, meaning any progress in negotiations requires the unanimous approval of both the Supreme Leader and the negotiating team. Iran has previously put forward a two-day framework proposal to conditionally reopen the Strait of Hormuz, contingent on the fulfillment of its demands, which include lifting blockades, unfreezing frozen funds, and easing sanctions, among others. (Jinshi)

According to The Washington Post, SpaceX is in talks with EchoStar to acquire its wireless business Boost Mobile or gain access to its network to launch its own mobile communications service. Citing sources familiar with the matter, the report said the two sides have discussed over recent months launching a SpaceX-branded wireless service through cooperation. Reuters cited the report noting that Boost’s existing network is primarily leased from AT&T and T-Mobile. The move is aimed at supporting Elon Musk’s Starlink Mobile initiative, which combines satellite constellations with terrestrial cellular networks to challenge the U.S.’s three major telecom operators. EchoStar had around 7.38 million wireless subscribers as of the end of the second quarter, mainly its Boost Mobile and Gen Mobile customers. Musk also met with EchoStar Chairman Charlie Ergen last month. If the transaction involves the transfer of network lease agreements, it may still require the approval of AT&T and T-Mobile.

Glassnode shared data on social media indicating that Bitcoin (BTC) sellers have been cutting losses below the $80,000 level. Last week saw the longest stretch of daily net realized losses since mid-August. Both the loss concentration periods in August and September formed at local price lows. If BTC’s price can hold above $75,000, it will align with this pattern once more.

Alphabet (GOOG.O) plans to raise 6 billion euros by issuing euro-denominated bonds.

According to an official announcement from Brazilian crypto exchange Mercado Bitcoin, the platform detected and quickly contained a security incident in one of its systems early this morning. The exchange emphasized that no customer losses occurred and no data was leaked. As a preventive measure, deposits and withdrawals have been temporarily suspended. The team is currently investigating and tracing assets, and coordinating with relevant authorities.

According to Reuters, an official familiar with the talks told the news agency that Iranian negotiators left their meeting with Qatari mediators on Sunday. A draft agreement aimed at ending the U.S.-Iran conflict is being circulated, and further meetings remain possible. The official added that the walkout was not due to stalled negotiations. Iranian Foreign Ministry spokesman Bagheri confirmed that Deputy Foreign Minister Bagheri Babadi had previously exchanged information with Washington in Doha via Qatari mediation. Current consultations are still based on the "seven-step plan" Iran proposed in September. The plan's core provisions include the U.S. ending its blockade of Iranian ports, Iran reopening the Strait of Hormuz, the U.S. granting exemptions for Iran's oil exports, and lifting recent new sanctions, among others. Bagheri said the plan can now be compressed to implementation in roughly two days, provided the U.S. meets Iran's conditions. When asked whether discussions on transferring high-enriched uranium stockpiles had been held, he explicitly denied the reports. The report noted that oil prices fell nearly 4% on Monday amid optimism over the current mediation, but Iranian sources said the likelihood of a new U.S. military strike remained higher than that of a deal being reached. Chinese Foreign Minister Wang Yi and Russia's Foreign Ministry separately called for a political resolution and opposed the resumption of military operations on the same day. U.S. President Donald Trump has previously rejected Iran's original seven-step plan and stated he would not launch new attacks on Iran ahead of the midterm elections.