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Bitcoin climbed toward $80,500 as risk assets rallied on Democrats’ midterm election gains and oil prices fell. Bitcoin (BTC) returned to $80,000 at Wednesday’s Wall Street open as US stocks surged following a Democratic sweep in the midterm elections. Key points: Data from TradingView showed BTC/USD up by over 4%, having rebounded from its lowest levels in seven weeks.
The amendment would require taxpayers to report holdings worth at least $112,000, but the measure still needs to survive the budget process. The French National Assembly approved an amendment that would require taxpayers to report self-custodied crypto holdings totaling at least 100,000 euros ($112,000) to tax authorities. Amendment I-2701 was adopted on Tuesday in a 150–44 vote, with eight abstentions, according to the Assembly’s official voting record. The threshold would be assessed on Dec. 31 of the relevant tax year. Separately, the Assembly rejected an amendment that would have exempted gains on crypto payments for goods and services from tax if the payments totaled no more than 1,000 euros ($1,120) during the tax year. The proposal was defeated 69–14, according to the Assembly’s tra…
SEC staff’s no-action letter covers CC earned by running infrastructure and applications, but is not a binding ruling on its legal status. Canton Network’s native cryptocurrency rose 4% on Wednesday after the US Securities and Exchange Commission’s (SEC) Division of Corporation Finance issued a no-action letter stating it views the token as a “digital commodity.” Canton Coin (CC) traded at $0.098 at 10:27 am UTC, but was still down roughly 4.2% over the past week, according to CoinMarketCap. Canton Network is a privacy-focused network that enables banks and financial institutions to tokenize assets, trade and settle transactions across different platforms.
Zach Pandl highlighted institutional custody safeguards as crypto markets recovered some losses following the record $6.3 billion Binance hack. Binance’s $6.3 billion hack could temporarily hurt confidence in crypto markets but would ultimately lead to stronger security practices across exchanges, according to Grayscale. “It also underscores the importance of institutional custody, such as offered by US-based crypto [exchange-traded products],” said Grayscale’s head of research, Zach Pandl, in a Tuesday report. “These vehicles hold their assets at state-chartered banks and qualified custodians, typically offering offline storage, multi-signature wallets, SOC attestations and insurance policies,” he added.
Sun plans to refile his token-freeze lawsuit in California state court after the sanctions motion is resolved. A hearing is set for Dec. 10. Tron founder Justin Sun is seeking $263,821.20 in sanctions against World Liberty Financial and its lawyers, accusing the Trump family-linked crypto company of submitting a misleading court disclosure about its ownership in a legal dispute over his $45 million WLFI token investment. In a federal court filing, Sun and two co-plaintiffs alleged that World Liberty initially listed Florida as its sole citizenship before amending its disclosure nearly three months later to identify 22 individuals and entities in its ownership chain, including those in the United Arab Emirates. “World Liberty presumably always knew who its owners were,” Sun said. “When we a…
Bitwise’s André Dragosch attributed Bitcoin ETF outflows to weaker market sentiment, saying institutions have largely maintained their exposure. US spot Bitcoin exchange-traded funds (ETFs) recorded more than $1 billion in net outflows over three trading days, but crypto asset manager Bitwise says the withdrawals do not signal a lasting retreat by institutional investors. Investors pulled another $116 million from the funds on Tuesday, bringing net outflows since Friday to $1.16 billion, according to SoSoValue data. “I do think it’s related to a short-term risk-off environment rather than a structural change in institutional sentiment,” Bitwise’s head of research, André Dragosch, told Cointelegraph.
The Binance attackers moved most of the stolen SOL and continued laundering funds through THORChain after the protocol resumed swaps. The attackers behind the $6.3 billion Binance hack have moved about 81% of the stolen Solana (SOL) as they continue laundering assets through the cross-chain swap protocol THORChain. Wallets grouped under the Binance hacker entity held 182,443 SOL (worth $16.9 million), or roughly 18.8% of the total 970,522 SOL stolen during the exploit, according to blockchain data platform Arkham. Lookonchain reported on Wednesday that the attackers split SOL across multiple wallets, selling it for USDC, bridging to Ethereum to buy Ether, and ultimately swapping ETH for Bitcoin (BTC) via THORChain.
Democrats will take control of House committees in January 2027, giving them power to investigate President Donald Trump’s administration. Update (Nov. 4, 2026, 11:24 am UTC): This article has been updated to include comments from CertiK’s Stefan Muehlbauer on the election results and the outlook for US crypto legislation. Democrats have won control of both chambers of the US Congress in the midterm elections, giving the party greater influence over legislation and oversight of President Donald Trump’s administration. The party won House seats in districts where Trump beat his Democratic opponent by as much as 18 percentage points in 2024. Democrats also flipped at least seven Senate seats in Kansas, Iowa, Texas, Ohio, Maine, North Carolina and South Carolina, according to the Associated P…
Bitcoin price downside reached a seven-week-low of $75,618 as 24-hour crypto long liquidations neared $300 million. Bitcoin (BTC) sought to erase 3% overnight losses on Wednesday as crypto markets digested the Democratic sweep of the midterm elections. Key points: Data from TradingView showed BTC/USD falling into Tuesday’s daily close as election results came in, with Democrats going on to win control of both the House and Senate. The pair dropped to a low of $75,618 on Bitstamp, a level last seen on Sept. 16, before rebounding as high as $78,039 over the next three hours.
Ethereum researcher Justin Drake said it is their “hope” that Ethereum will achieve its post-quantum and post-AI transition by December 2028. Ethereum Foundation researcher Justin Drake is targeting December 2028 to complete Ethereum’s post-quantum and post-AI transition, a year earlier than the foundation’s previously announced quantum-resistance deadline. Speaking at Devcon 8 in Mumbai on Tuesday, Drake outlined the accelerated timeline. “Our hope is that by December 2028 we’ll be able to wrap up the full post-quantum and post-AI transition,” Drake said, adding that developers have 24 months to deliver three additional network upgrades. The Ethereum Foundation’s September roadmap established December 2029 as its deadline for achieving quantum resistance across Ethereum’s execution, conse…
The shift in Senate control could change the path for the CLARITY Act, reshape committee leadership and bring closer scrutiny of Trump’s crypto businesses. Democrats have won control of the US Senate after flipping Republican-held seats in Texas, Ohio, North Carolina, South Carolina, Kansas and Iowa, according to the Associated Press. The majority was secured after Democrat Senator Josh Turek won the Senate race for Iowa, bringing Democrats and independents who caucus with them to 51 seats. The result reshapes the outlook for the stalled CLARITY Act and determines which lawmakers lead committees overseeing the industry.
The French bank has not confirmed its alleged involvement in the crypto theft, which ZachXBT said could have resulted in losses exceeding $133 million. Onchain investigator ZachXBT has identified French banking group Crédit Mutuel Arkéa as the alleged victim of a crypto theft exceeding $133 million, warning that total losses could be higher. On Wednesday, the pseudonymous crypto sleuth said the institution, which he described as having $235 billion in assets, was allegedly exploited over multiple days. He also suggested that additional losses may have occurred through over-the-counter (OTC) transactions that were not included in earlier estimates. “I suspect the amount stolen is larger when accounting for OTC activity,” ZachXBT said.
Crypto executives expect US regulators to drive crypto policymaking regardless of the midterm election outcome. With voting underway in the US midterm elections and control of Congress at stake, Maylea Ma, deputy general counsel at 1inch, said she expects federal agencies to drive the next phase of crypto regulation. The election could reshape the path forward for the stalled CLARITY Act, but Ma said “real movement” in US digital-asset regulation over the next few years will come from the US Securities and Exchange Commission, Commodity Futures Trading Commission and Treasury, rather than Congress. Ma said those agencies were increasingly engaging with crypto projects. However, agency engagement does not provide the stability the industry had hoped to secure through legislation.
THORChain has restored trading on Bitcoin, Ethereum and several other networks following a refund bug, while three chains remain paused. THORChain’s RUNE token rose about 15% over the past 24 hours as the cross-chain swap protocol restored trading on most networks following a weekend halt triggered by an Ethereum block reorganization. THORChain (RUNE) was trading at around $0.64 on Wednesday, up approximately 15% over the previous day, according to CoinMarketCap. THORChain’s network status page showed trading and transaction signing marked “OK” on 10 of its 13 listed external networks. BNB Smart Chain, Cosmos Hub and Solana continued to show warnings for both functions.
Follow live coverage of the 2026 US midterm elections, including key congressional races, crypto-backed candidates and what the results could mean for digital asset regulation. Within the next few hours, we will begin to learn whether President Donald Trump’s Republican Party has managed to retain control of the US Congress, determining his ability to advance his legislative agenda during the final two years of his term. Americans headed to the polls Tuesday for the 2026 midterm elections, with all 435 seats in the US House of Representatives and 35 Senate seats up for grabs. Republicans currently control both chambers of Congress, holding 53 Senate seats to 45 Democrats and two independents who caucus with them, along with a narrow advantage in the House. Democrats need a net gain of four…
SpaceX joined several other issuers objecting to OKXICE tokenized trading, months after crypto platforms offered tokens tied to its shares. Just months after tokenized versions of SpaceX shares became one of the biggest drivers of onchain stock trading, the aerospace company is pushing back against plans to bring similar trading to US investors. According to a Nov. 2 public notice from OKXICE, SpaceX has objected to the proposed listing of tokenized versions of its shares on the trading venue, a joint venture between crypto exchange OKX and New York Stock Exchange parent Intercontinental Exchange (ICE). The company now joins Tesla and Amazon among 56 companies objecting to the proposed listings. Under the Securities and Exchange Commission’s five-year Innovation Exemption introduced in Sep…
US regulators are opening the door to stock-based perpetual futures, extending a popular crypto trading product into traditional markets amid ongoing legal disputes. Perpetual futures contracts tied to individual stocks can begin trading on regulated US exchanges for the first time, according to the Commodity Futures Trading Commission (CFTC), extending a derivatives product popularized in cryptocurrency markets into traditional equities. CFTC Chairman Michael Selig said in a Tuesday statement that the contracts were deemed approved under CFTC Regulation 40.3 and could be offered on exchanges registered with both the CFTC and Securities and Exchange Commission (SEC) to trade security futures products. Selig said bringing the products into regulated US markets would allow American traders t…
Kalshi and Polymarket price a 75% chance of a Democratic sweep, days after markets misjudged Brazil’s runoff. Update (Nov. 3 at 10:32 p.m. UTC): This article has been updated to include comments from Talos. As Americans across the country head to the polls for the US midterm elections Tuesday, prediction market traders have spent months wagering on the outcome. According to an analysis by The Washington Post, nearly $1.9 billion in election-related contracts had traded on Kalshi and Polymarket as of Monday, marking record trading activity for a midterm election cycle. Markets on both platforms favor Democrats winning control of Congress, with a Democratic sweep priced at 75% on Kalshi and 75.5% on Polymarket as of 4:30 pm UTC. Kalshi traders gave Democrats a 93% chance of taking the House…
Markus Thielen sees Bitcoin reaching $90,000 by year-end, questions institutional ETF demand and says Ethereum must do more for holders. Bitcoin’s days of consecutive double-digit price surges are over as Wall Street traders and profit-taking whales reshape the market, according to 10x Research founder Markus Thielen. Institutional traders selling call options after rallies have made Bitcoin’s violent price explosions of earlier years less common, Thielen says in the latest episode of Cointelegraph’s Trade Secrets. Thielen is also the author of Crypto Titans, a history of the industry. Writing the book led him to notice how each cycle brought different people pitching crypto to investors.
Hackers exploited compromised employee computers and stolen credentials to breach Binance’s wallet infrastructure, according to the exchange’s investigation. A coding assignment from a prospective employer seemed like an ordinary part of a job interview. Instead, it was one step in a months-long cyberattack that ended with $6.3 billion stolen from Binance, raising questions about how exchanges protect themselves against threats that target their employees. The attack was part of a coordinated campaign that exploited both human vulnerabilities and internal security systems, according to a postmortem released by Binance on Tuesday. The exchange’s findings detailed how hackers gradually gained access to its wallet infrastructure before the Oct. 29 theft. According to Binance’s security report…
