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Arthur Hayes attributes Bitcoin’s recent decline to a contraction in U.S. dollar liquidity rather than diminishing institutional interest or political factors. He argues that Bitcoin acts as a real-time indicator of global fiat liquidity and that its fall below 90,000 dollars, even as major stock indexes remain near record highs, signals growing systemic stress. Hayes believes that if equities undergo a significant correction while interest rates stay high, the government will likely respond by increasing the money supply, which he says could propel Bitcoin toward 200,000 to 250,000 dollars by the end of the year.
He also contends that Bitcoin’s earlier resilience this year came not from broad investor confidence, but from hedge funds engaging in basis trades using ETFs such as BlackRock’s IBIT. As ETF outflows accelerate and the profitability of these trades declines, institutional participants are reducing exposure, which Hayes says is being misread by retail investors as a lack of belief in Bitcoin itself. This misinterpretation fuels additional selling pressure, further weakening the basis and prompting even more ETF outflows in a self-reinforcing cycle. Source
Private key theft has evolved into a large-scale, automated criminal enterprise, according to a new report from GK8. The study highlights how black market tools, including infostealer malware and seed phrase parsing software, allow attackers to scan files, cloud backups and chat histories to extract private keys with ease. Once malware collects data from an infected device, hackers use automated systems to reconstruct seed phrases, identify valuable wallets and assess security protections before draining assets. Even macOS users, once considered relatively safe, are seeing a surge in targeted infostealer activity.
GK8 and threat intelligence firm Kela emphasize that users must assume local device data can be compromised and adopt stronger operational security practices. They recommend never storing seed phrases digitally, using secure custody infrastructure, implementing multiparty approval for transactions and maintaining a mix of hot, cold and vault storage to reduce exposure. Users should stay vigilant against phishing, fake installers and malicious ads, while also relying on unique passwords, multifactor authentication and consistent software updates to reduce the risk of malware and key theft. Source
Nearly 1 billion dollars worth of Bitcoin was moved on Tuesday from wallets linked to the defunct exchange Mt. Gox, marking the first major transfer since March. A cold wallet labeled by Arkham Intelligence sent more than 10,600 Bitcoin to two addresses, with a portion later forwarded to crypto exchange Kraken, one of several platforms assisting in the long-running creditor repayment process. These transactions come as Mt. Gox continues efforts to return funds lost in its 2014 collapse, although a Kraken spokesperson declined to comment on whether the latest activity was repayment-related.
Mt. Gox has already repaid around 19,500 creditors, but delays persist, and the final deadline for distributing remaining assets has been pushed back to October 2026 due to unresolved administrative steps. The exchange’s holdings have dropped significantly over the past year and now sit at roughly 35,000 Bitcoin, worth about 3.2 billion dollars. Earlier repayment rounds contributed to heavy selling pressure as creditors offloaded coins after years of inactivity, and Bitcoin’s price has continued to slide, reflecting broader market weakness as the community awaits further developments. Source
The article discusses how repeated financial crises and continuous expansion of the money supply have weakened purchasing power and limited social mobility in the United States. Natalie Brunell, a journalist and author, explains that her own family’s experience during the 2008 financial crisis revealed how inflation and a flawed monetary system erode savings and contribute to broader social and economic problems. She argues that Bitcoin’s fixed supply and decentralized structure make it a strong savings mechanism capable of preserving value over time, unlike fiat currencies that continually lose purchasing power.
Brunell emphasizes that inflation encourages short-term thinking and discourages long-term planning, whereas saving in Bitcoin promotes a low time preference that supports future-oriented behaviours such as investing in family, health, innovation, and community building. She also highlights Bitcoin’s role as portable, self-sovereign money that can protect individuals during crises, allowing them to retain their wealth even when fleeing conflict or instability. Source
Prediction market platform Myriad has partnered with Walrus to store all of its media and market data on-chain, creating an immutable and verifiable record. This integration replaces Myriad’s previous mix of decentralized and cloud storage, enabling tamper-proof provenance and providing complete transparency for users, auditors, and potential regulators. Walrus representatives note that this on-chain data record enhances trust and ensures that every market outcome and payout is preserved permanently.
With all market artifacts stored immutably, Myriad’s data can be used in areas such as decentralized finance and AI, where verified information can support price feeds, collateral decisions, and automated actions. The partnership builds on Walrus’s broader role in decentralized storage and aligns with Myriad’s goal of reshaping incentives within the media ecosystem. By expanding collaboration across the Sui technology stack, Myriad and Walrus aim to develop infrastructure that strengthens user ownership, transparency, and accountability across the web. Source
Tether has invested in Ledn, a crypto lending platform that enables users to access liquidity through Bitcoin-collateralized loans without selling their assets. Ledn, operating in more than 100 countries, has originated hundreds of millions of dollars in Bitcoin-backed loans and expects demand for such services to continue rising. The investment will support the development of infrastructure designed to expand global access to credit and liquidity for both individuals and businesses.
The move comes as Bitcoin-backed lending experiences renewed growth following industry setbacks in 2022. Institutional involvement is expanding, with firms like Cantor Fitzgerald engaging in Bitcoin-backed lending and companies in Australia offering home loans secured by digital assets. Lawmakers in the United States are also considering policies that incorporate crypto holdings into mortgage underwriting. Analysts project that the market for Bitcoin-backed lending could grow significantly by 2030, pointing to increasing mainstream recognition of crypto-collateralized financial products. Source
El Salvador’s president Nayib Bukele indicated that the country added 1,000 Bitcoin worth around 100 million dollars, marking the largest single-day increase in its holdings to date. The nation’s total now sits at roughly 7,500 Bitcoin valued at about 698 million dollars, according to its Bitcoin Office dashboard. The IMF has questioned these apparent increases, suggesting they may be internal transfers rather than new purchases. Salvadoran officials have rejected that interpretation, maintaining that Bukele has continued accumulating Bitcoin even after agreeing to scale back certain initiatives as part of a major loan deal with the IMF.
Public disclosures of holdings only began in 2024, and the sudden jump of more than 1,000 Bitcoin in a day stands out from Bukele’s past pattern of smaller, more sporadic buys. Previous commitments included purchasing one Bitcoin per day during a period when prices were far lower. Despite Bitcoin dropping 27 percent from its recent peak, market sentiment on prediction platforms remains evenly split between optimism and caution. El Salvador’s Bitcoin reserves, once valued near 800 million dollars at all-time highs, have since fallen by almost 200 million dollars, and profit metrics previously displayed on official dashboards have been removed. Source
Markethive is building a broad blockchain-based ecosystem centred on its Hivecoin utility token, aiming to replicate the type of platform-and-token synergy that fuelled Binance’s rapid rise. The article compares Binance’s early strategy of integrating BNB into trading fees, governance, and payments with Markethive’s plan to embed HVC into its social media, marketing, and entrepreneurial tools. Markethive’s founder, Thomas Prendergast, has a long history in automated marketing systems, and the project positions itself as a decentralized market network focused on user empowerment, real utility, data privacy, and a sustainable blockchain-driven economy. HVC is designed to support advertising, subscriptions, press releases, and content engagement, while rewarding users for participation. Future value growth is tied to expanding utility, ecosystem development, reduced supply, and Markethive’s broader vision of transforming digital commerce and community-driven platforms.
To accelerate its launch onto exchanges, Markethive is introducing a large incentive program, distributing up to 20 million Hivecoins through a tiered airdrop based on each member’s annual spending. Users earn increasing amounts of HVC depending on their spending bracket, with rewards deposited directly into secure wallets. The initiative is intended to catalyse platform activity, reward early supporters, and mirror the early-stage growth seen in tokens like BNB, with speculative long-term projections illustrating potential value appreciation. Markethive encourages users to increase subscriptions and engagement to help finalize its launch and strengthen its ecosystem, presenting the program as a major opportunity for community members to expand their HVC holdings while supporting the project’s expansion. Source
The US Office of the Comptroller of the Currency (OCC) clarified that authorized national banks are permitted to hold certain cryptocurrencies specifically to cover network gas fees, as long as the activities are lawful and safe. Banks may maintain crypto assets as principal to test otherwise permissible crypto-asset-related platforms, expanding guidance previously issued that allowed handling digital assets for customers and outsourcing some crypto activities. This move reflects a lighter regulatory approach toward digital assets compared with the previous administration, aiming to reduce barriers for banks engaging with cryptocurrency.
The guidance references the GENIUS stablecoin legislation signed in July, which creates a regulatory framework for payment stablecoins and anticipates that banks will need to pay network fees through assets in custody or via agents. While the law is in place, full implementation will take time as the US Treasury and Federal Reserve finalize the regulatory framework. Meanwhile, the US Senate is negotiating a digital asset market structure bill, which could become a landmark piece of legislation for cryptocurrency regulation in the country. Source
PDAX, a regulated cryptocurrency exchange in the Philippines, has partnered with Web3 payroll provider Toku to allow remote workers to receive wages in stablecoins. The integration links Toku’s token-based payroll system with PDAX’s regulated cash-out rails, enabling companies to pay employees through normal payroll processes while letting workers instantly convert earnings to pesos without wire fees or delays. Payments are routed directly to PDAX wallets or external addresses for real-time settlement, and employees can cash out to most Philippine banks or e-wallets, including GCash and GrabPay. Employers can fund payroll in either Philippine pesos or stablecoins such as USDC, USDG, or RLUSD.
The Philippines has emerged as a hub for crypto adoption, with government agencies and banks implementing blockchain and stablecoin initiatives. Recent developments include Tether enabling Social Security contributions via USDt, banks collaborating on the Hedera-based PHPX stablecoin for remittances, and the government notarizing official documents on the Polygon blockchain. Additionally, Congress is considering a Strategic Bitcoin Reserve Act to direct the central bank to purchase and hold 10,000 Bitcoin in trust for at least 20 years, highlighting a growing institutional and governmental interest in digital assets. Source
American cryptocurrency exchange Kraken has raised $800 million in a funding round, including a $200 million strategic investment from Ken Griffin’s Citadel Securities, bringing the firm’s valuation to $20 billion. The primary tranche involved institutional investors such as Jane Street, DRW Venture Capital, HSG, Oppenheimer Alternative Investment Management, and Tribe Capital, along with backing from Kraken Co-CEO Arjun Sethi’s family office. Prior to this round, Kraken had raised only $27 million in primary capital. The company reported $1.5 billion in revenue in 2024 and exceeded that figure in the first three quarters of 2025.
The newly raised capital will support Kraken’s global expansion into Latin America, Asia Pacific, and EMEA, while also broadening its offerings beyond cryptocurrency to include additional asset classes, advanced trading tools, expanded payment services, and enhanced institutional capabilities. Kraken has been considering an IPO, with reports suggesting a potential public offering as early as 2026. The company emphasized that the investment reflects long-term confidence in its mission to build trusted, regulated infrastructure for an open financial system. Source
Canaan reported a 104% increase in third-quarter revenue to $150.5 million, driven by strong demand for its Bitcoin mining hardware, with mining equipment sales accounting for $118.6 million. A significant portion of sales came from North American clients, contributing 31% of total revenue, as miners expanded operations amid rising Bitcoin prices. The company generated $30 million in mining revenue during the quarter, up 241% year over year, and reduced its net loss to $27 million from $75 million in the same period last year. By the end of October, Canaan had mined 267 Bitcoin at an average revenue of $114,485 per coin and increased its holdings to 1,610 Bitcoin.
The surge in revenue lifted Canaan shares nearly 21% to $1.03, extending slightly after hours, despite the stock being down about 50% for the year due to the shift of some miners toward artificial intelligence operations. CEO Nangeng Zhang emphasized that Bitcoin mining remains a viable way to generate revenue while miners gradually adapt to AI infrastructure, noting that deploying additional mining equipment now is still the most effective allocation of energy for income generation. Source
Rep. Brandon Gill, a first-term Texas Republican and ally of former President Donald Trump, has added up to $300,000 in Bitcoin and shares of BlackRock’s iShares Bitcoin Trust ETF (IBIT) this year, according to his latest House transaction report. Gill purchased between $100,000 and $250,000 in Bitcoin on October 20 and between $15,001 and $50,000 in IBIT on October 29. Since taking office in January, he has accumulated up to $2.6 million in Bitcoin and up to $150,000 in IBIT, making him an active participant in digital asset markets while serving on the House Budget Committee.
Some of Gill’s earlier Bitcoin purchases, totaling up to $500,000, were reported late, outside the 45-day window required by the STOCK Act, which mandates timely disclosure of lawmakers’ securities transactions. He has also invested in tech-focused ETFs like the Invesco QQQ Trust. While congressional crypto transactions are treated the same as stock trades, transparency advocates note that such investments raise questions about potential influence given the Trump family’s involvement in the crypto sector. Source
Senate Banking Committee Chair Tim Scott announced plans to mark up a crypto market structure bill in December, aiming to have it on President Donald Trump’s desk by early 2026. Scott indicated that negotiations with Democrats are ongoing, though he accused the party of stalling progress. The bill would align with the House-passed CLARITY Act, which clarifies the regulatory powers of the Securities and Exchange Commission and the Commodity Futures Trading Commission over digital assets. The Senate Banking and Agriculture Committees are each drafting sections of the bill, with Banking overseeing securities-related rules and Agriculture overseeing the CFTC.
Coinbase CEO Brian Armstrong highlighted ongoing discussions in Washington and expressed optimism that the markup could occur in December, potentially unlocking clear regulatory rules for the crypto industry in the United States. If the Senate passes its version, the legislation would return to the House for final approval before being sent to the president to sign into law. Republicans hold a Senate majority, but the bill would still effectively require 60 votes to pass, making cross-party negotiation critical for its advancement. Source
The Office of the Comptroller of the Currency (OCC) confirmed that national banks can now hold and spend cryptocurrency in specific situations, including paying blockchain network fees for approved banking activities and testing crypto-related platforms. This policy reverses stricter Biden-era restrictions that required banks to seek prior approval before engaging in most crypto activities. The change allows banks to expand existing permissible operations without taking on the operational or counterparty risks of acquiring crypto from third parties.
Under the Trump administration, the OCC has further eased regulations, permitting major banks to custody digital assets for clients and engage in stablecoin-related activities. The latest guidance explicitly allows national banks to keep crypto on their balance sheets for multiple purposes, moving them closer to integrating traditional banking functions with on-chain operations and deepening their involvement in the cryptocurrency sector. Source
Coinbase is reportedly developing a prediction markets platform, with screenshots shared by tech researcher Jane Manchun Wong suggesting it will be backed by Kalshi. The screenshots show the platform branded under Coinbase Financial Markets, the exchange’s derivatives arm, featuring a typical prediction market interface, an FAQ section, and a guide explaining the offering. The platform appears set to accept USDC or US dollars for events spanning economics, sports, science, politics, and technology, with new markets expected to be added regularly.
The move aligns with Coinbase’s broader goal of becoming an “everything exchange” and follows its November partnership with Kalshi, in which Coinbase acts as custodian for USDC-based event contracts. Prediction markets have gained significant traction this year, with rival exchanges such as Crypto.com and Gemini also launching or planning similar offerings, either through partnerships or proprietary platforms, to capture growing interest in crypto-based event trading. Source
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
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