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Wintermute said inflows across stablecoins, ETFs and digital asset treasuries have plateaued, leaving crypto liquidity recycling internally. Crypto market-maker Wintermute said the digital asset market’s current cycle is being driven by “recycled liquidity,” as inflows from its three primary funding sources have slowed. In a Wednesday blog post, Wintermute argued that liquidity remains the defining force behind every crypto cycle. The market maker said that while blockchain continues to be adopted, the flow of fresh capital has decelerated in recent months. The company pointed to stablecoins, exchange-traded funds (ETFs) and digital asset treasuries (DATs) as the three major conduits for crypto liquidity, warning that liquidity inflow in all three has reached a plateau. Read more
The EU’s near-approval of Chat Control reveals regulatory threats to encryption. Web3 risks centralizing surveillance unless privacy becomes foundational. Opinion by: Agata Ferreira, assistant professor at the Warsaw University of Technology Recently, Europe came alarmingly close to approving mass surveillance of private communication through the proposed Chat Control regulation. The proposal faced intense backlash from the community, as it would have obliged providers to scan all private messages. It was rejected only after Germany refused to support it. Just nine EU member states opposed the proposal, while 12 backed it and six remained undecided. Read more
When your crypto is stolen, a rapid and organized response is crucial to trace the funds and rebuild your digital security. Hackers can drain your crypto exchange account by gaining unauthorized access to your password or login credentials. This often happens through phishing links or malware that secretly steals your login credentials. Attackers may also exploit weak passwords, reused credentials from data breaches or SIM swaps to bypass two-factor authentication (2FA). Once they gain access, they transfer funds to anonymous wallets, often routing them through mixers or decentralized exchanges to hide their tracks. Read more
Coinbase said it had enhanced oversight and compliance testing after coding errors led to gaps in transaction monitoring between 2021 and 2022. Coinbase Europe Limited, the European affiliate of US crypto exchange Coinbase, has reached a 21.5 million euro ($24.7 million) settlement with the Central Bank of Ireland following technical failures in its transaction monitoring system between 2021 and 2022. In a Thursday blog post, Coinbase said the coding errors caused the exchange’s internal compliance software to only partially screen some transactions for suspicious activity. The company said it detected the issue through internal testing, fixed it within weeks, and later reviewed all affected transactions. Coinbase Europe ultimately filed around 2,700 suspicious transaction reports on transactions totaling about $15 million, out of the 185,000 transactions flagged during the review period. The company said that these filings did not confirm illicit activity, but were made as required under Irish Anti-Money Lau...
Coinbase insists that the US Treasury cannot override Congress’s intent on the GENIUS Act, but banks continue to press for a blanket ban on stablecoin interest. The US Department of the Treasury is facing conflicting feedback from crypto companies and traditional banking groups over how to implement the GENIUS Act, the law that regulates stablecoin payments in the US. In a letter on Tuesday, Coinbase urged the Treasury to limit a ban on stablecoin interest payments exclusively to stablecoin issuers, while allowing it for non-issuers, such as crypto exchanges. Coinbase said its proposal aligns with Congress’s intent when passing the legislation. At the same time, several banking groups, led by the Bank Policy Institute (BPI), have pressed the Treasury to extend the prohibition to non-issuers, advocating for a blanket ban on stablecoin interest payments. Read more
Privacy coins surge 80% as Zcash and Dash hit multi-year highs, driven by rotation, halving hype and renewed demand for transaction privacy. Privacy-focused cryptocurrencies have rallied sharply, with sector value up nearly 80% by November 2025. Zcash hit a seven-year high and Dash a three-year peak as traders rotated into privacy assets. Technical breakouts, derivatives positioning and an upcoming Zcash halving fueled the move. Read more
Researchers bought 97 BTC in 2012 for a blockchain study. Thirteen years later, they’re selling the stash to fund quantum research projects. A Spanish public research institute is preparing to sell a long-forgotten Bitcoin stash, worth over $10 million, which was purchased for just $10,000 in 2012 as part of a blockchain research project. The Institute of Technology and Renewable Energies (ITER), overseen by the Tenerife Island Council, acquired 97 Bitcoin (BTC) more than a decade ago to study blockchain technology. The council is now finalizing plans to divest the holdings, according to a report from Spanish-language newspaper El Día. Juan José Martínez, Tenerife’s innovation councillor, told the outlet that the council is working with a Spanish financial institution authorized by the Bank of Spain and the National Securities Market Commission (CNMV) to facilitate the sale. Read more
Investors are better off buying ETFs than buying shares in a firm that’s simply putting a crypto asset on its balance sheet, argues Bitwise’s Matt Hougan. Bitwise chief investment officer Matt Hougan says digital asset treasuries need to start taking the hard path if they want to stand out from the crowd; otherwise, investors are better off investing in crypto exchange-traded funds instead. One of the best ways to discern whether a digital asset treasury (DAT) is worth looking at is to ask the question, “Are they doing something hard?” Hougan argued in an X post on Wednesday. “Buying a crypto asset and putting it on a balance sheet today isn’t hard. It was hard at one point, but it’s not hard now. If that’s all a DAT is doing, you are better off owning an ETF. This is true even if the DAT is staking, as ETFs now stake,” he said. Read more
Miami Mayor Francis Suarez started receiving his salary in Bitcoin four years ago, when Bitcoin was valued at around $64,000. Miami Mayor Francis Suarez, who started to take Bitcoin as salary in late 2021, said he’s unfazed about the recent volatility in the crypto market, claiming he’s now up around 300% on his Bitcoin paychecks. Speaking to Fox Business on Wednesday, the crypto-friendly Mayor was asked if he was “concerned” about Bitcoin (BTC) following the recent dip under $100,000, with most of the crypto market also bleeding over the past week. “No, because I got paid at $30,000, so it’s up 300%, it was actually up to 400% when it was up to $120,000, so I’m not concerned about everyday market swings from one day to the other,” he said, adding: Read more
The UK’s top bank says it will roll out stablecoin rules “just as quickly as the US” amid concerns that it's lagging behind global allies. Bank of England Deputy Governor Sarah Breeden expects the government to keep pace with the US in stablecoin regulation, stating that it is “really important” for the allies to be synchronized on rules governing the $310 billion industry. Speaking at the SALT conference in London on Wednesday, Breeden reportedly said the UK will implement a stablecoin regulatory framework “just as quickly as the US” — rebuffing fears that it is falling behind, particularly after the US passed the landmark GENIUS Act in July. Breeden confirmed that UK regulators are speaking with US authorities as the Bank of England prepares to publish its stablecoin consultation paper on Nov. 10. Read more
The launch marks Franklin Templeton’s latest step into digital assets, introducing a blockchain-based UCITS fund as Hong Kong accelerates its push toward real-world asset tokenization. Franklin Templeton has launched a tokenized US dollar money market fund for professional investors in Hong Kong, expanding its crypto offerings in Asia. According to a statement shared with Cointelegraph on Wednesday, the Franklin OnChain U.S. Government Money Fund is the first end-to-end tokenized structure by an asset manager to integrate issuance, distribution and servicing directly onchain in Hong Kong. The tokenized fund will be initially available only to institutional and professional investors. It is registered in Luxembourg under a regulated framework that allows investment funds to be sold across the European Union. Read more
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation. Today in crypto, Galaxy cut its 2025 Bitcoin price forecast to $120,000 from $185,000, citing changing market conditions. US spot Solana ETFs extended their six-day inflow streak, while the White House defended President Trump’s pardon of former Binance CEO Changpeng Zhao. Investment company Galaxy lowered its 2025 Bitcoin price forecast to $120,000 from $185,000, citing several headwinds and dampened price volatility due to passive investment flows into exchange-traded funds (ETFs) and financial institutions. Factors such as whales dumping 400,000 Bitcoin onto the market in October, along with rotations into other investment narratives such as gold, AI and stablecoins, in addition to leveraged liquidations, have put a damper on BTC price, Alex Thorn, Galaxy’s head of research, said on Wednesday. Read more
The mixed ruling was claimed as a victory by both Stability AI and Getty Images, muddying the legal waters around AI and intellectual property. The United Kingdom’s High Court of Justice issued a mixed ruling on Tuesday in the Getty Images v. Stability AI intellectual property case filed in 2023, which mostly favored Stability AI but left key questions unanswered about AI’s use of copyrighted material. Getty owns a library of copyrighted online stock images — which it licenses to users for a fee — and alleged that Stability’s Stable Diffusion AI model, which is trained using online material, infringed upon its trademark and copyrighted material. Stability’s Stable Diffusion AI model infringed on Getty’s trademark by reproducing its watermark in certain cases. However, the findings were “extremely limited in scope,” Justice Joanna Smith ruled. Read more
Some experts suggest that the US Senate is more likely to pass a funding bill to reopen the government before any crypto legislation. Discussions over the digital asset market structure bill currently being considered in the US Senate are reportedly still happening amid the longest government shutdown in the country's history. According to a Tuesday Politico report, Republican Senator John Boozman with the Senate Agriculture Committee — one of the committees that will need to approve the bill before consideration in the full chamber — will discuss the market structure legislation with White House crypto and AI czar David Sacks and Democratic Senator Cory Booker. The reported call will come as lawmakers prepare to finalize a discussion draft of the bill. The market structure bill is expected to be one of the most significant pieces of legislation affecting the crypto industry to come out of the current session of Congress. Read more
The Chicago-based crypto venture company has already invested part of its new $136 million fund in stablecoin startups, as blockchain VC activity slows in 2025. CMT Digital, a Chicago-based venture capital firm specializing in digital assets, has closed its fourth fund, raising $136 million to back blockchain startups. The fund will target founders developing the next wave of crypto infrastructure and applications, as regulatory clarity improves and institutional adoption accelerates, according to an announcement on Wednesday. Investment partner Sam Hallene told Fortune that the fund drew backing from a mix of wealthy individuals, family offices, and institutional investors, though he declined to name participants in the round. Read more
The company updated its terms to prohibit the purchase or sale of weapons “in contravention of applicable laws,” suggesting that legally permissible transactions were possible. Stablecoin issuer Circle updated its policy for one of its tokens to clarify rules around prohibited transactions, explicitly addressing the use of legally obtained firearms and weapons. Crypto sleuths and reports from this week noted that Circle had updated its terms for its USDC (USDC) stablecoin. The terms specifically stated that the platform had the “right to monitor and, if appropriate, block or otherwise prevent transactions” related to the purchase of firearms, ammunition, explosives and other weapons. However, users noted that Circle had updated the terms to include weapons “in contravention of applicable laws,” suggesting that US-based users and others could legally purchase firearms using the stablecoin. Read more
The hack was one of the “most sophisticated” attacks so far in 2025, according to Deddy Lavid, CEO of blockchain security company Cyvers. The team behind decentralized finance (DeFi) protocol Balancer published a preliminary post-mortem report on Wednesday, detailing the cause of the exploit that siphoned $116 million across DeFi markets. Balancer was hit by a sophisticated code exploit on Monday that affected Balancer v2 Stable Pools and Composable Stable v5 pools, while all other pool types remained unaffected, according to the report. The hacker used a combination of BatchSwaps, which allow the user to bundle multiple actions in a single transaction, including flashloans — short-term loans borrowed and repaid within the same transaction — and an exploit of the upscale rounding function that affects EXACT_OUT swaps in the Stable Pools. Read more
ETH’s flash crash to $3,050 cleared out $1.3 billion in leveraged long positions, creating a market imbalance with $7 billion in short liquidity. Will a short squeeze send ETH above $4,000? Key takeaways: Ether dipped to $3,055, wiping out $1.3 billion in long liquidations across exchanges. Over $7 billion in short positions near $4,000 sets up potential for a sharp squeeze. Read more
Tangem Pay enables users to spend Circle’s USDC stablecoin worldwide through a virtual Visa card that connects directly to Tangem’s self-custodial hardware wallet. Cryptocurrency wallet company Tangem has launched Tangem Pay, a virtual Visa card connecting directly to the hardware wallet and allowing users to spend stablecoins at millions of merchants worldwide. Launched in collaboration with US payment infrastructure company Paera, Tangem Pay enables users to deposit and spend Circle’s USDC (USDC) stablecoin on the Polygon network, Tangem said in an announcement shared with Cointelegraph on Wednesday. “Once the user deposits into their Tangem Pay account, they can spend anywhere Visa is accepted, regardless of the local currency,” Tangem Pay CEO Marcos Nunes said, adding that the solution supports Apple Pay and Google Pay for instant Visa payments. Read more
The mining hardware maker said it's refocusing on its core business of ASIC chip design and high-performance computing equipment as it scales production in the United States. Bitcoin mining hardware maker Canaan Inc. has secured a $72 million strategic equity investment from Galaxy Digital, Weiss Asset Management and Brevan Howard’s digital asset arm, Brevan Howard Digital. The transaction, announced on Tuesday, will bolster the company’s balance sheet and reduce its dependence on future at-the-market (ATM) capital raises, it said. Under the deal, investors bought 63.7 million American depositary shares, representing Canaan’s Class A stock at $1.13 each through a registered direct offering. Founded in 2013, Canaan specializes in application-specific integrated circuit (ASIC) chip design and high-performance computing equipment. The company developed the first Avalon-branded Bitcoin mining rigs in 2013 and listed on Nasdaq in 2019. Read more5954 items