Crypto News

Circle reported strong Q3 results with USDC-focused growth driving performance. Total revenue climbed 66% to $740 million, while net income surged 202% year-over-year to $214 million. USDC circulation rose 108% to $73.7 billion, boosting reserve income to $711 million, a 60% increase. Adjusted EBITDA reached $166 million, reflecting solid operating leverage despite higher distribution and compensation costs. The Circle Payments Network expanded to eight countries with 29 participating banks, and the USYC tokenized currency fund’s AUM hit $1 billion. Circle launched the Arc testnet and plans an Arc native token to enhance network participation. CEO Jeremy Allaire emphasized accelerating USDC adoption and the push for an open, efficient global financial system. William Blair maintained an “Outperform” rating, highlighting Circle’s scale and liquidity as central to the programmable money revolution.

Uniswap’s latest governance proposal transforms UNI into a deflationary, revenue-backed token. It splits trading fees: 0.25% to liquidity providers and 0.05% into protocol income. Protocol fees on v2 and v3 pools will fund continuous buybacks and burns. A one-time 100 million UNI burn (16% of supply) and Unichain sequencer fees further boost the deflationary model. New features include MEV capture via PFDA auctions and Uniswap v4 aggregator hooks for external DEX fees. Analysts estimate annual buyback funds of $5–6 billion, driving a 1.5%–2% yearly deflation rate. UNI rallied nearly 50% on the announcement. The proposal aims to offset reduced LP returns and cement a “protocol income → buyback & burn → token value” flywheel. If approved, these tokenomics changes could strengthen UNI’s long-term value, though LP retention and fee dynamics will determine real-world efficacy.

Early Bitcoin whale Owen Gunden has deposited a total of 3,501 BTC (~$357m) to Kraken in successive on-chain transfers—500 BTC on November 8, followed by 600 BTC, and most recently 2,401 BTC—boosting his Kraken holdings while retaining 2,499 BTC (~$259m) off-exchange. These Bitcoin inflows increase BTC liquidity on exchanges and could presage market moves, prompting traders to monitor potential sell-offs or hedging strategies.

Aero DEX, the combined AMM protocol merging Aerodrome on Base and Velodrome on Optimism, is set to launch in Q2 2026 on Ethereum mainnet and Circle’s permissioned Arc blockchain. The unified DEX consolidates over $530 million in TVL and nearly $190 million in annual fees, aiming to solve cross-chain liquidity fragmentation. Built on the METADEX03 OS, Aero DEX features MetaSwaps for single-transaction asset transfers and integrated MEV auctions to reduce front-running and cut operating costs by $34 million. Traders benefit from lower slippage and gas fees, while institutions gain compliance support on Arc. With over $480 million already in TVL and analysts projecting up to $2 billion in monthly trading volume, Aero DEX is positioned as a multi-chain liquidity hub expanding across Ethereum Layer-2 networks.

President Trump has signed a stopgap funding bill that ends the record 43-day U.S. government shutdown and restores funding through January 30. This move resumes operations at federal agencies, including finance and crypto regulation bodies, reducing uncertainty for traders. The resumption of crypto regulation lowers compliance risk and volatility in the sector. Healthcare funding disputes delayed the bill, but Trump signaled willingness to work with Democrats on reforms. The pause buys Congress more time to finalize the full 2026 appropriations package. For crypto traders, restored regulatory activity and improved market stability mean clearer trading conditions in the short term. The longer-term market impact hinges on upcoming budget negotiations.

Crypto futures liquidations initially surged past $260 million in 24 hours as long positions in BTC, ETH and ZEC unwound. In a later 24-hour period, liquidations climbed to $355 million, driven by forced sell-offs in BTC ($160M), ETH ($131M) and memecoin POPCAT ($64.32M), with longs bearing over 75% of the losses. This cascade of auto-liquidations amplified market volatility and highlighted the risks of over-leveraged trading. Traders are urged to improve risk management: use conservative leverage, set stop-loss orders, monitor funding rates and diversify assets. In crypto futures markets, large liquidations often signal a market turning point. For futures traders, preserving capital and understanding liquidation mechanics remain critical.

Bitcoin price on OKX surged past $102,000 on November 9, reaching a peak of $102,036.30 before briefly topping $102,018.90 and settling with a 0.16% intraday decline. Bitcoin price volatility reflects ongoing profit-taking near key resistance at $102,000. Trading volume remained robust as traders assessed a potential new support level and watched $101,000 for entry points. Market participants are also eyeing upcoming U.S. Fed policy events for catalysts. The mixed price action underscores Bitcoin’s resilience and offers crypto traders both bullish momentum and short-term consolidation signals for trading strategies.

U.S. prosecutors have asked the Southern District of New York to set a retrial in February or March 2026 for Anton and James Peraire-Bueno, charged with wire fraud, money laundering and conspiracy after a $25 million Ethereum exploit in 2023. The initial trial ended in a mistrial when jurors deadlocked on whether MEV bots execution constituted good-faith activity. Court filings on May 12 ask the judge to schedule the MEV bots retrial “as soon as possible in late February or early March 2026.” During over three days of deliberation, jurors sought clarity on witness testimony and the legal definition of “good faith,” with some reporting emotional strain. A conviction could carry decades in prison and set a legal precedent for MEV bots strategies on Ethereum. Crypto traders should monitor this case for potential impacts on Ethereum market stability and compliance requirements.

The UAE CBDC initiative, led by the Central Bank along with the Ministry of Finance and Dubai Finance, has completed its first live government transaction using the Digital Dirham on the BIS Innovation Hub’s mBridge platform in under two minutes. The UAE CBDC pilot, part of the FIT Programme, tests CBDC interoperability, privacy controls and real-time settlement between federal and local accounts. Following a 2023 cross-border settlement trial with China, the current phase focuses on domestic use, assessing finality, system stability and cybersecurity. The narrow UAE CBDC pilot covers only government wallets, with plans to expand to private banks and consumer wallets by Q4 2025, aiming to modernise payment infrastructure and enhance financial inclusion.

Yahoo Finance has partnered with Polymarket to launch an exclusive Prediction Markets Center on its platform, slated to debut in coming months. As the sole provider, Polymarket will deliver real-time on-chain prediction market data—including live probabilities, market volumes, liquidity, and price feeds—across politics, entertainment, sports, business and tech. The blockchain-based hub, built on Polygon (MATIC), simplifies market creation, resolution, and settlement for users betting on event outcomes like elections and economic indicators. Since launch, Polymarket has processed over $1 billion in trading volume. The integration aims to boost retail and institutional participation, enhance market stability, and drive mainstream adoption of decentralized prediction markets. Traders should watch for potential long-term growth in Polymarket activity and increased visibility for the Polygon network.

Former BitMEX CEO Arthur Hayes has urged Zcash holders to move their ZEC off centralized exchanges into self-custodial wallets as volatility spikes. Since October, ZEC has surged over 700% to highs above $711 — its strongest level since early 2018 — and is up roughly 88% in the past month. The privacy coin’s price has swung from lows near $430 to rebounds above $537, underscoring growing exchange counterparty risk and cybersecurity threats. Ranked 24th by market cap and climbing 10% in 24 hours, Zcash’s zero-knowledge proof privacy ethos conflicts with centralized platforms’ data practices amid increased regulatory scrutiny. Hayes warns that storing ZEC on exchanges heightens counterparty and compliance risks and recommends shielding coins in private wallets to protect assets and transaction privacy. Traders should review their holdings, adopt self-custody strategies, and prepare for continued Zcash volatility.

Hong Kong issues its third blockchain-based green bond (digital bond), leveraging HSBC’s permissioned blockchain and subsidized by the HKMA’s Digital Bond Grant Scheme. The AA+-rated digital bond will be denominated in US dollars, euros, offshore yuan and Hong Kong dollars, with proceeds funding environmental and climate initiatives. All issuance, recording and settlement occur on-chain, backed by immutable transaction records, real-time impact tracking and reduced administrative costs through tokenization and removal of intermediaries. A built-in fail-safe allows reverting to traditional systems if needed. This follows two prior digital bond sales and at least six tokenized corporate bond offerings totaling $1 billion since 2023. Authorities highlight cross-border regulatory compliance and technical infrastructure as challenges but plan international cooperation to drive adoption of blockchain green finance and pave the way for future tokenized bonds.

Tether has hired Vincent Domien and Mathew O’Neill, former HSBC global head of metals trading and EMEA head of precious metals, to bolster its gold trading and reserve operations. Leveraging its balance sheet, Tether holds over $12 billion in gold, growing reserves by more than one metric ton weekly. These assets back both USDT and its gold stablecoin XAUT, which has a market cap of $2 billion fully collateralized by about 1,300 gold bars. Tether’s gold strategy delivered over $130 billion in profits from reserve assets last year and is projected to earn $150 billion this year. The move signals bullish momentum for tokenized gold and reinforces stablecoin credibility amid growing demand for digital and physical asset diversification.

The IRS has issued guidance that clears the way for crypto staking in regulated funds. Under the new crypto staking rules, Wall Street ETFs and investment trusts may stake a single proof-of-stake token and distribute staking yields to investors. Eligible products must be listed on a national exchange, hold only one digital asset, use a qualified custodian and independent staking provider, and apply robust risk controls. The guidance takes effect immediately and covers networks such as Ethereum and Solana. Industry experts say this clarity removes a major legal barrier for ETPs and other institutional vehicles. By boosting staking yields in compliance products, the IRS framework is expected to accelerate mainstream adoption of proof-of-stake blockchains and reinforce US leadership in digital assets.

U.S.-listed spot Bitcoin ETFs snapped a two-week outflow streak with nearly $300 million in net inflows, led by Fidelity’s FBTC and Ark 21Shares’ ARKB. This reversal highlights renewed institutional confidence and a ‘buy the dip’ mentality among investors. European crypto investment products also recorded steady inflows, underscoring divergent regional trends in digital asset demand. Altcoin funds drew significant capital, with Solana-linked products netting $118 million last week—bringing their nine-week total to $2.1 billion—and smaller but steady inflows seen in HBAR. On-chain fundamentals remain supportive: Bitcoin’s circulating supply is approaching 19.95 million (95% of its 21 million cap), reinforcing its scarcity narrative. Bitcoin and Ethereum prices rose 1.4% and 2.1% respectively, reflecting bullish market sentiment and potential short-term upside.

Coinbase has introduced its first fiat savings product for UK customers, the Coinbase UK Savings Account, offering a competitive 3.75% AER on GBP deposits up to £85,000 with FSCS protection through ClearBank’s FCA-regulated accounts. Interest compounds daily and is credited weekly, with no minimum balance or lock-in period. This launch follows similar stablecoin yield offerings and positions Coinbase ahead of UK banks offering lower rates. By merging bank-grade insurance with crypto-platform yields, Coinbase aims to attract cautious retail investors, enhance its fiat on-ramp, and pressure mid-tier banks to improve savings rates.

BNY Mellon projects the stablecoin and tokenized cash market will reach $3.6 trillion by 2030, driven by institutional stablecoin investment, blockchain payment rails and clearer regulations like the EU’s MiCA. Tokenized deposits and digital money market funds enable faster settlement, reduced counterparty risk and improved liquidity. A tokenized money market fund launched with Goldman Sachs enhances institutional access to digital cash. Blockchain will complement, not replace, traditional finance—boosting transparency and cutting operational errors. Investment in stablecoins and tokenized cash solutions is rising among financial firms seeking efficiency.

Coinbase has launched a new token sale platform that allows retail investors to buy digital tokens before their official listing. The pre-listing token sale platform uses USDC and runs over a fixed one-week window. A fair allocation algorithm replaces first-come, first-served models. Projects must lock tokens for six months after sale. Monthly token sales begin with the blockchain startup Monad’s MON token from Nov. 17–22. Coinbase expects this regulated and transparent model to enhance liquidity, foster community engagement and boost market stability. After the announcement, COIN shares rose 4%, supported by recoveries in Bitcoin and XRP.

Ethereum gas fees have fallen to record lows following the March 2024 Dencun upgrade. Basic transfers now cost just $0.04, token swaps $0.11 and NFT sales $0.19. This cost reduction coincides with a 20% increase in daily active addresses as Layer-2 rollups process nearly 99% of transactions. The drop in Ethereum gas fees has boosted on-chain trading and smart contract activity. Lower fees make transactions more accessible for retail and institutional traders. However, base-layer fee revenue has plunged by 99%, sharply reducing validator rewards. Experts warn that sustained revenue declines may threaten network security and validator incentives. Traders should watch for potential protocol adjustments aimed at balancing low costs with robust economic incentives.

Uniswap has submitted its UNIfication governance proposal, jointly developed by Uniswap Labs and the Uniswap Foundation, to activate the long-awaited fee switch on its decentralized exchange. The plan would redirect a portion of trading fees from liquidity providers to the protocol treasury and automatically burn UNI tokens proportional to usage, with an initial on-chain burn of 100 million UNI—approximately 16% of circulating supply—representing fees that would have accrued since launch. Furthermore, around $7.5 million in annualized fees on the upcoming Unichain will fund additional UNI burns, while a 20 million UNI Growth Budget is set aside for grants and ecosystem development. These measures aim to reduce token supply, align protocol revenue with UNI value, bolster liquidity provider incentives and reinforce Uniswap’s leading position in DeFi. Pending community approval, the proposal could reshape UNI’s tokenomics and drive further market dynamics.

CleanSpark has launched a $1.15 billion senior convertible bond offering set to close on November 13. The Nasdaq-listed miner expects net proceeds of $1.13 billion (or $1.28 billion with full exercise) to fund bitcoin mining expansion, land and power acquisitions, and build out AI data centers. A $460 million tranche will repurchase common shares at $15.03 each to optimize capital structure. Proceeds will also repay bitcoin-secured debt and cover general corporate expenses. As the world’s second-largest miner with 46.6 EH/s hash rate, CleanSpark is deepening its footprint ahead of the next bitcoin halving. Its move into AI infrastructure aims to diversify revenue and align crypto mining with high-growth AI services. This convertible bond offering follows a $550 million capital raise in December 2024, underscoring CleanSpark’s strategy to balance growth with shareholder returns.

Gemini reported a net loss of $159 million in Q3, driven by one-time IPO costs for its planned Nasdaq listing, including regulatory compliance fees, technology upgrades and advisory charges. Net revenue rose 52% quarter-on-quarter to $49.8 million and more than doubled year-on-year to $50.6 million, powered by a record $16.4 billion trading volume and a booming credit card program. Services revenue, covering staking, custody and card fees, jumped 111% to $19.9 million. Despite strong user growth and diversified fee streams, operating expenses of $171.4 million outpaced revenue. Traders should weigh the credibility boost from a Nasdaq debut against ongoing losses and funding needs. Future performance hinges on cost control, capital efficiency and compliance with public reporting standards.

The Senate Agriculture Committee has released a bipartisan discussion draft establishing a new crypto market structure. The bill defines “digital commodity” in law and tasks the Commodity Futures Trading Commission (CFTC) with formal oversight of spot trading in crypto assets. It introduces customer protections, including segregated funds, disclosure requirements and self-custody safeguards, and mandates platform registration. The draft also calls for CFTC-SEC collaboration to resolve overlaps and secures dedicated funding for CFTC staff and infrastructure. Building on the House-passed CLARITY Act, it aims to enhance transparency, liquidity and resilience in the crypto market structure. The release coincides with new Treasury and IRS guidelines clarifying staking rules for crypto ETPs, reinforcing regulatory certainty for traders.

Bybit is in talks to acquire Korbit, one of South Korea’s oldest crypto exchanges. Industry sources told Maeil Business that Bybit met Korbit executives to discuss buying a 31.5% stake from SK Planet. Korbit declined to comment. Bybit asked investors to await official updates. Regulatory easing by the Korea Financial Intelligence Unit and Financial Services Commission has simplified foreign acquisitions of local crypto exchanges. Bybit’s potential move follows Binance’s recent acquisition of Gopax. The deal would strengthen Bybit’s presence in South Korea’s competitive digital asset market. The acquisition reflects Bybit’s Asia expansion strategy. For crypto traders, it signals intensified competition among global exchanges in the region. The regulatory changes and foreign investments could boost liquidity and trading options. Traders should watch for official announcements and market responses.

Federal jury declared a mistrial in the $25M Ethereum MEV fraud trial against MIT-educated brothers Anton and James Peraire-Bueno. Prosecutors accused them of using MEV bots in a bait-and-switch scheme to manipulate Ethereum transaction ordering and reap maximal extractable value. The defense insisted their actions fell within protocol rules as legal base-stealing. The mistrial in this landmark Ethereum MEV case underscores legal challenges in applying fraud laws to decentralized protocols. The Department of Justice now weighs retrial, plea deal or dismissal amid calls for protocol changes and renewed debate on crypto regulation.

Paris-based hardware wallet provider Ledger reported triple-digit million-dollar revenues in 2025 ahead of the holiday season. The company now secures about $100 billion in bitcoin and is valued at $1.5 billion after its 2023 funding round. CEO Pascal Gauthier said “the money is in New York today for crypto,” as Ledger explores a New York IPO or private fundraising round. The global hardware wallet market is valued at $263 million, driven by security concerns over centralized exchanges. Ledger is also expanding its New York operations and rolling out new features, including an enterprise iOS app, TRON support, and a multisig wallet. This strategic move underlines growing demand for self-custody solutions and could boost long-term bitcoin adoption.

The Bank of England has launched a consultation on GBP stablecoin regulation, open until 10 February 2026, aiming to finalize rules by the second half of 2026. Under the proposal, issuers must back each token with at least 40% held as deposits at the BoE and the remainder in short-term UK government bonds. Systemically important GBP stablecoins may hold up to 95% in gilts during their growth phase, reducing to 60% as they mature. The plan also sets individual holding caps of £20,000 per token and a £10 million limit for businesses, with exemptions for major institutions. HM Treasury will grant systemic status, the BoE will set prudential requirements and liquidity facilities, and the FCA will oversee conduct. Non-systemic stablecoins such as USDT and USDC will remain under FCA regulation only. By clarifying stablecoin regulation, the BoE seeks to align UK policy with global peers and give crypto traders greater certainty while balancing innovation with monetary stability.

Hashrate price, the expected daily revenue per PH/s, has plunged from over $62 to about $42 since July and is nearing the critical $40 level. This collapse is squeezing Bitcoin mining operations. Small and inefficient miners are powering down rigs as electricity and maintenance costs exceed earnings. ASIC makers like Bitdeer have turned to self-mining to offset weaker demand and declining hardware orders. Meanwhile, the Bitcoin network’s hashpower has climbed past 1 ZH/s even as block rewards fell to 3.125 BTC after the 2024 halving. Rising energy costs and high hardware capex have further narrowed profit margins. In response, major mining firms are diversifying into AI compute services. Cipher Mining signed a $5.5 billion, 15-year agreement with AWS. IREN secured a $9.7 billion GPU contract with Microsoft. Bitcoin’s price has also slid from October peaks above $126,000 to below $100,000. Heavy selling by long-term holders and leveraged liquidations have deepened the downturn. Analysts warn that bearish conditions could persist, marking a crucial turning point for miner profitability and business models. The ongoing slump in hashrate price underscores the sector’s urgent need to adapt.

Bitcoin power-law model sets a long-term fair value at $142,000 and forecasts an upper bound of $512,000 by December 2025. Since March 2024, BTC price has tracked this fair value line in a rare “compressed spring” pattern that historically triggers sharp rallies or brief dips near the lower band around $50,000 before surging. Institutional inflows into Bitcoin exchange-traded products remain positive, while higher post-halving mining costs are prompting miners to hold coins. Long-term holders have resumed accumulation after recent volatility, underlining renewed confidence in the market. However, some institutions have tempered expectations. Galaxy Research cut its 2025 forecast from $180,000 to $120,000 after October’s crash, and Ark Invest’s Cathie Wood trimmed her long-term target, citing stablecoin competition and macro risks. Traders should watch BTC’s price action around the power-law fair value line, volatility levels, regulatory developments, and capital flows to time entries and manage risk. Tracking the Bitcoin power-law model’s fair value line has historically offered traders clear signals for entry and exit points.