Cryptoccino — Saturday 07 November 2026

Post-midterm slide compounds the AI rout. Bitcoin erased its entire post-election rally as AI stocks cratered, with the coin testing eleven-week lows before stabilising. The sell-off was broad: altcoins underperformed and the derivatives unwind was the largest single-day liquidation event in several months. decrypt

Strive turns $509M profit on BTC treasury as shares slide. Strive bought 15,124 BTC in October alone, bringing total holdings to 43,124 BTC and booking $509 million in Q3 net income largely from mark-to-market gains. Its stock continues to drift lower despite the headline profit, as investors weigh the gap between treasury value and operating fundamentals. theblock cointelegraph_defi

TeraWulf mining revenue falls 69% as Anthropic buildout drives HPC surge. The miner posted $63 million in AI-related HPC lease revenue for Q3, up 774% year on year, as it effectively pivots away from Bitcoin production. The numbers underline how the mining-to-AI-compute transition is accelerating, though Anthropic’s shaky IPO valuation now introduces a new dependency risk. theblock

World Liberty Financial announces WLFI token buyback after 66% slide. The Trump family’s crypto project has unveiled a buyback programme for WLFI following a year-to-date collapse that accelerated after this week’s midterm results. Bloomberg and CoinDesk both note the buyback is partly framed as a response to political headwinds rather than purely market mechanics. coindesk bloomberg_crypto

Aave Labs acquires Avon team to build out fixed-rate lending. The acquisition brings Avon’s onchain fixed-rate and floating-rate lending technology inside the Aave ecosystem, targeting a gap that has long pushed institutional borrowers toward TradFi alternatives. No purchase price was disclosed. theblock

Apple and Meta reject OKX-ICE tokenised stock plan. Both companies declined to have their shares tokenised as part of the OKX and Intercontinental Exchange initiative, leaving the programme reliant on crypto-native firms willing to participate. The rebuff raises questions about how broadly traditional corporates will engage with tokenised equity rails. coindesk

Zcash NU7 upgrade goes live, tripling block speed and burning 60% of fees. The Network Sustainability Mechanism activates alongside the block-time reduction, redirecting a majority of transaction fees out of circulation to be reissued from 2031, within the 21 million ZEC cap. The community debate over the developer fund remains live and unresolved. theblock decrypt

Hyperliquid Strategies applies to become a US futures commission merchant. The Hyperliquid treasury firm filed with US regulators to operate as a futures commission merchant, a structure that could eventually allow American users to access permissioned perpetuals markets on Hyperliquid. Approval is not guaranteed and the timeline is unclear. decrypt

Binance hackers swap $124M into Bitcoin — $3.1B still dormant. Elliptic tracking shows the attackers have used over 20,000 wallets across 16 chains but the bulk of the $6.3 billion stolen haul has not been laundered; $2.85 billion remains frozen and roughly $3.1 billion in ETH and BTC has yet to move. Nubank and Mercado Pago separately suspended some crypto operations this week citing third-party provider issues in the aftermath of the Binance incident. theblock decrypt bloomberg_crypto

Gnosis Pay data breach hits legacy card system; no funds lost. Unauthorised access on 3 November reached customer information stored in the legacy backend behind Gnosis Pay’s branded debit cards. The active enterprise card platform was not affected and customer funds were untouched. theblock decrypt

Former FBI agent pleads guilty to stealing $2.5M from bureau’s own crypto evidence. Patrick Yaroch accessed wallets using credentials collected during federal investigations and drained 35 separate cases before being caught. He reportedly consulted ChatGPT on how to relocate to Europe. decrypt

TRM Labs calls for offensive cyber operations against North Korean hackers. Following the Binance theft, TRM Labs publicly called for proactive, offensive-posture responses targeting the Lazarus Group and affiliated actors rather than reactive tracing. The firm stopped short of specifying what form those operations should take. cryptobriefing

Treasury’s FinCEN cuts MEXC off from US financial system over $16B in alleged illicit flows. FinCEN, acting under Section 311 of the USA PATRIOT Act as part of Operation Economic Outcast, barred US institutions from processing any transfers involving MEXC Global, citing facilitation of transactions linked to Iran, North Korea and Russia. The order is effective immediately and represents one of the more sweeping enforcement actions against a crypto exchange in years. cointelegraph_regulation theblock decrypt cryptobriefing

Treasury and Fed quietly withdraw 2020 crypto travel rule expansion. The proposal would have dropped the threshold for mandatory data collection on crypto transfers from $3,000 to $250; both agencies have now pulled it without replacement. Coin Center flagged the withdrawal as a meaningful rollback of a surveillance overreach that had been languishing since the final months of the previous administration. theblock coincenter cryptobriefing

Trump administration advances crypto-in-401(k) rule to the White House. The proposed rule, which would open retirement accounts to alternative assets including digital assets, has cleared agency review and arrived at the White House for final consideration. Experts note that while altcoins are not explicitly excluded, plan administrators will face significant fiduciary hurdles before listing them. theblock cointelegraph_regulation

Greece passes crypto gains tax at 10%, with a higher 15% rate for DeFi and staking. The framework takes effect in 2027 and includes a €500 annual gains exemption, but lawmakers left the treatment of token swaps unresolved, which will cause practical headaches for active traders. OFAC also expanded sanctions against Prince Group, adding 45 targets tied to the alleged crypto-scam network. coindesk decrypt cointelegraph_regulation decrypt

What else is grinding?

• Russia finalised its retail crypto trading rules ahead of a 17 November rollout, allowing BTC, ETH and USDT trading through regulated intermediaries, with Moscow Exchange set to launch in December. cointelegraph_regulation
• Nigeria’s central bank banned algorithmic stablecoins outright and introduced reserve and licensing requirements for all crypto payment service providers. theblock cointelegraph_regulation
• Solana’s Shanghai promotional event was halted after the PBOC flagged it as an unauthorised crypto promotion under China’s existing restrictions. cointelegraph_regulation
• A federal judge granted a preliminary injunction barring prediction market platform Kalshi from offering sports contracts on the lands of two California Native American tribes. theblock
• Binance France will close all customer accounts by year-end and begin charging fees on idle balances from 29 November as the entity winds down. cryptobriefing
• Blockstream named Falcon-1024 as its preferred quantum-resistant signature scheme for Bitcoin, acknowledging that any transition would be gradual and involve significant tradeoffs. cryptobriefing

Last sip. Three-point-one billion in stolen Binance crypto is sitting still, and nobody knows when it starts to move.