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Data shows that BTC’s “average annual returns have gradually declined, with no peaks at all in the last cycle, confirming the hypothesis that Bitcoin's risk/return structure has changed.” The phenomenon of financial bubbles is hotly debated among industry operators, and there are several academic papers on the subject, starting with Professor Didier Sornette’s 2014 study of financial bubbles. In fact, the paper defines a “bubble” as a period of unsustainable growth with prices rising faster and faster, i.e., growing more than exponentially. Obviously, bubbles by definition are destined to burst and bring prices back to their starting value or worse. In the recent past, Bitcoin (BTC) has experienced periods of more than exponential growth, followed by very sharp declines, called “crypto winter,” a period when no one talked about Bitcoin and other assets anymore, meaning there was a freeze around the sector, and prices collapsed. Previous declines following the Bitcoin price bubble were -91%, -82%, -81%, and -7...
IBM targets quantum advantage by 2026 and fault-tolerant systems by 2029 with new processors and faster error correction, advancing the race toward quantum computing. Technology company IBM (NYSE: IBM) announced new developments in its quantum computing research, including advances in processors, software, and error correction. At its annual Quantum Developer Conference in New York on Wednesday, the company outlined plans to achieve quantum advantage by 2026 and fault-tolerant systems by 2029. Quantum advantage refers to the point at which a quantum computer can solve a problem faster or more efficiently than any classical supercomputer. IBM said its new “Nighthawk” processor will play a central role in reaching that milestone, delivering circuits 30% more complex than its previous generation while maintaining low error rates. Read more
The largest Bitcoin ATM operator in North America is expanding to Hong Kong, citing growing global demand for cash-to-crypto access. Bitcoin Depot (Nasdaq: BTM), the largest Bitcoin ATM operator in North America, is entering the Asian market with a new launch in Hong Kong, marking the company’s first international expansion into the region. According to an announcement on Wednesday, the expansion reflects a strategy to reach markets with strong demand for easy cash-to-crypto conversion. Bitcoin Depot aims to be among the top five Bitcoin ATM operators in Hong Kong, it said. “Hong Kong is quickly becoming a global center for crypto, with the right mix of regulation, demand, and momentum,” said Scott Buchana, Bitcoin Depot’s president and chief operating officer. Read more
The incident at the Massillon, Ohio, facility followed the company's Q3 earnings report on Monday, showing a net loss of over $266 million. Bitcoin mining company Bitdeer confirmed that a fire broke out at its facility in Massillon, Ohio, on Tuesday, with no reported casualties. The fire affected two of 26 buildings under construction at the Massillon site, which does not have any mining rigs installed, according to an announcement on Wednesday. Bitdeer said it “does not expect” the incident to impact the company’s operational hashrate, a measure of the total computing power commanded by its mining operations. Read more
New data shows stable altcoin speculation despite Bitcoin’s price drop, hinting at early signs of risk re-entry and a more mature altcoin cycle ahead. Despite Bitcoin’s (BTC) 10% decline in October, Capriole Investments’ Altcoin Speculation Index has remained flat around 25%, suggesting that speculative activity in the altcoin market is holding steady rather than collapsing alongside BTC. This relative stability could indicate an early phase of re-entry among market participants, as investors selectively rotate into higher-risk crypto assets despite macroeconomic caution. Key takeaways: Altcoin speculation remains stable despite Bitcoin’s October slump to $100,000. Read more
After a jury deadlocked on a verdict for two brothers accused of perpetrating a $25 million exploit on Ethereum, prosecutors are looking to retry them in 2026. Anton and James Peraire-Bueno, two brothers indicted for their alleged role in money laundering and fraud involving a $25 million exploit of the Ethereum blockchain, could face a second trial as early as February. In a Monday filing in the US District Court for the Southern District of New York, lawyers representing the US government requested a federal judge schedule a retrial for the Peraire-Bueno brothers “as soon as practicable in late February or early March 2026.” The request came about three days after a judge declared a mistrial in the case, following the jurors’ inability to reach a verdict. Read more
Backed and Kraken’s xStocks sees rapid growth as investor interest in blockchain-based equities accelerates despite regulatory uncertainty. XStocks, a tokenized equity platform created by real-world asset (RWA) tokenization firm Backed and crypto exchange Kraken, has surpassed $10 billion in total transaction volume just over four months after its launch, signaling a growing appetite for tokenized investment products. The platform debuted earlier this year with more than 60 tokenized equities, including Nvidia, Amazon, Tesla and Meta Platforms, as well as several exchange-traded funds (ETFs). Each xStock token is fully backed 1:1 by the underlying equity or ETF, issued by Backed in partnership with Kraken. XStocks operates across Ethereum, Solana, BNB Chain and Tron, expanding accessibility across major blockchain ecosystems. Read more
Bitcoin bulls tried to spark a recovery, but were met with heavy selling pressure near $107,000. A similar fate awaited most altcoins, which sold off from their respective resistance levels. Bitcoin (BTC) bulls pushed the price above $105,000 on Wednesday, but the bears pounced on the rally and pulled the price below $102,000. That shows the bears are not willing to relinquish their advantage. Morgan Stanley Wealth Management investment strategist Denny Galindo has turned cautious on the BTC rally. In a podcast episode titled Crypto Goes Mainstream, he said that BTC’s price cycle was in the “fall season,” where one should book profits before winter sets in. Key points: Read more
Markus Thielen warns Bitcoin’s institutional rally could reverse as ETF outflows and market fatigue weigh on risk appetite. The powerful wave of institutional buying that helped propel Bitcoin higher since early 2024 could also amplify a correction if market fatigue persists, according to Markus Thielen, CEO of 10x Research and a former portfolio manager. In an interview with Bloomberg, Thielen said the crypto market, and Bitcoin (BTC) in particular, is showing all the tell-tale signs of fatigue, following a difficult October marked by the largest liquidation event in the industry’s history. Those losses, he noted, have compounded underlying macroeconomic risks that Bitcoin has increasingly mirrored. Because institutional inflows, especially from spot Bitcoin exchange-traded funds (ETFs), have been a key driver of the 2024 rally, Thielen warned that the same investor base could accelerate downside pressure if activity continues to slow. Read more
The biotech firm is shifting to a crypto-focused strategy, backed by Winklevoss Capital, and investing $50 million in the Zcash protocol's native token. Shares of Leap Therapeutics (Nasdaq: LPTX) surged more than 170% in early trading on Wednesday after the company announced a shift to a crypto treasury strategy. The company announced its rebranding as Cypherpunk Technologies (Nasdaq: CYPH) and adoption of a digital asset treasury strategy focused on Zcash (ZEC), the native token of the Zcash protocol. The biotech company used $50 million from a $58.88 million private placement led by Winklevoss Capital to purchase 203,775 Zcash (ZEC) at an average price of $245.37 per token, marking a move away from biotechnology and into the crypto sector. Read more
With market structure moving forward in the US Congress to establish clear roles for the SEC and CFTC over digital assets, Paul Atkins offered his thoughts on the bill. US Securities and Exchange Commission Chair Paul Atkins spoke on how the regulator would handle enforcement of digital asset fraud under its “Project Crypto” initiative and legislation pending in Congress. In prepared remarks for a speech on Wednesday at the Federal Reserve Bank of Philadelphia, Atkins provided details about the agency’s plans to modernize its approach to regulating digital assets. According to Atkins, the agency plans to consider “establishing a token taxonomy” in the coming months, “anchored” in the Howey test — the standard by which the SEC evaluates securities — to recognize that “investment contracts can come to an end.” Read more
The stablecoin issuer considered stablecoin-denominated gas fees on Arc, but has a long-term goal of shifting to distributed governance. Stablecoin issuer Circle, the company behind the USDC dollar-pegged stablecoin, is planning a native token for its ARC layer-1 blockchain testnet, an enterprise-focused Ethereum Virtual Machine network. Circle launched the Arc testnet in October, with participation from investment bank Goldman Sachs, asset manager BlackRock, credit card company Visa and over 100 other companies. The company, which disclosed plans for the new token alongside its earnings on Wednesday, initially planned to center gas fees on the Arc network around USDC (USDC) and other stablecoins. Read more
Ripple bundles custody, prime brokerage, treasury and stablecoins so institutions can operate like banks with crypto rails. Ripple is spending about $4 billion to combine prime trading, treasury tools, payments and custody into a single integrated setup. RLUSD trials aim to settle real card payments and corporate payouts onchain, then sync results back into ERP and TMS systems. To scale, Ripple needs strong controls with clear reserves, strict compliance checks and transparent accounting rules. Read more
Bitcoin fell to weekly lows at $101,300 as US equities and gold rallied ahead of the key vote to end the US government shutdown, signaling a shift in investor sentiment to traditional assets. US stock markets soared on Wednesday as investors anticipated a US House of Representative vote on a bill to end the government shutdown. Bitcoin (BTC), on the other hand, fell from an intraday high of $105,300 to a weekly low near $101,200, marking a 3.4% decline. Key Takeaways: Bitcoin dropped 3.4% amid renewed flows into equities and precious metals. Read more
Franklin Templeton has linked its Benji tokenization platform to the Canton Network, expanding institutional access to regulated onchain assets. Franklin Templeton has expanded its tokenization and investor platform, Benji, to the Canton Network, marking another step in the growth of institutional blockchain infrastructure for tokenized investment products. The integration, announced Wednesday, connects Franklin Templeton’s proprietary Benji Technology Platform to Canton, a blockchain network designed for regulated financial institutions. The move enables Benji’s tokenized assets, including its onchain US government money market fund, to be used as collateral and liquidity within Canton’s Global Collateral Network. Each Benji token represents a share of Franklin Templeton’s tokenized money market fund, with yields calculated intraday and ownership recorded onchain. Read more
Michael Saylor’s company remains a top Bitcoin holder, but its dominance has fallen amid slower accumulation and rising competition. Michael Saylor’s Strategy has seen its dominance among corporate Bitcoin holders decline in October amid slower purchases and a growing number of companies adding crypto to their treasuries. The company still leads as the largest Bitcoin (BTC) treasury holder with 640,808 BTC as of Oct. 31, though its share of total corporate holdings has slipped to 60% from 75%, according to a report by BitcoinTreasuries.NET. The decline in Strategy’s dominance comes as corporate accumulation continues, albeit at a slower pace. Public and private companies added 14,447 BTC to their treasuries in October, the smallest monthly increase of 2025. Read more
The end of Trump's last US government shutdown back in 2019 saw a boom in crypto markets, but things are a bit different this time around. Crypto market observers are preparing for price movements as the historical US government shutdown seems within sight. The US government is still technically shut down as of publishing time, but a continuing resolution that would fund critical government services through January has made its way from the Senate to the House of Representatives. The shutdown affects a number of vital federal functions, including the ability for securities and commodities regulators to approve crypto listings. Lawmaking has also ground to a halt, with the possibility of the crypto framework bill passing by year’s end becoming ever smaller. Read more
The US-based cryptocurrency exchange has not had a brick-and-mortar headquarters amid adopting its “remote-first” policy, but maintains offices in San Francisco and New York City. Cryptocurrency exchange Coinbase will reincorporate to Texas from Delaware, a move highlighting the respective states’ legal and regulatory environments. In a Wednesday X post, Coinbase Chief Legal Officer Paul Grewal said the crypto exchange would move its incorporation to Texas. In a Wall Street Journal op-ed, Grewal wrote that the climate in Delaware’s courts had become “rife with unpredictable outcomes,” while Texas offered “efficiency and predictability.” “This decision was not made lightly, but we’ll always do what’s best for our customers, our employees, and our shareholders,” said Grewal. Read more
Ether neared a falling wedge breakout, eyeing a potential rally toward $4,400 by mid-December if the bullish setup is confirmed. Ethereum’s native token, Ether (ETH), is “seconds away” from entering a convincing breakout stage, according to analyst Kamran Asghar. Key takeaways: Ether is nearing a breakout from a falling wedge, with a target of $4,400. Read more
Stablecoins, staking tokens and RWAs are bridging crypto’s yield-generation gap, bolstered by the historic approval of the US GENIUS Act in July. Cryptocurrency-based yield products still lag far behind their traditional finance (TradFi) counterparts, but new blockchain sectors such as liquid staking tokens (LSTs) and real-world assets (RWAs) are steadily closing the gap, according to a new report co-authored by RedStone Oracles, Gauntlet, Stablewatch and the Tokenized Asset Coalition, shared with Cointelegraph. Only 8% to 11% of cryptocurrencies offer passive yield-generating models, indicating a significant gap compared to 55% to 65% of TradFi assets, roughly a fivefold disparity, the report found. However, stablecoins, RWAs and “blue-chip” yield tokens are rapidly closing decentralized finance’s (DeFi) passive income gap. Emerging regulations, such as the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, passed in July, are helping the industry catch up, resulting in a rising de...6045 items