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Thu 5 Nov
Bitcoin rebound lacks leverage and spot demand, CoinDesk says
CoinDesk says Bitcoin recovered $80,000 after a short-term shock from the US midterm election results, but futures open interest stayed near $53.4bn and US spot ETF net inflows were just $74m. It attributes the rebound mainly to a short squeeze, with $300m of Bitcoin shorts liquidated in 24 hours.
Bitcoin dips below $80,000, down 0.38% on the day
OKX market data shows Bitcoin fell below $80,000 to $79,998.50, down 0.38% intraday.
Strategy says its Bitcoin holdings are worth about $65.9bn
Strategy bought 811 BTC for about $65.5m in the last week of October, lifting its holdings to 849,327 BTC worth roughly $65.9bn, Bitcoin News says. Arkham data cited shows unrealised profit of about $919m as of 3 Nov, with each $1,000 move in Bitcoin shifting the book result by about $850m.
Democratic governor win puts 41% of new US data-centre projects at risk, Musk hit hardest
A Democratic governor's election win puts 41% of new US data-centre projects at risk of being halted, with Musk facing the biggest blow.
Malaysia police arrest 13 over suspected crypto pig-butchering scam
Police in Malacca arrested 13 foreign suspects in a raid on a home in Kota Shahbandar, breaking up an alleged pig-butchering ring that used fake crypto trading platforms. Halim Abas said the group lured Chinese victims via Telegram, QQ and Soul; the suspects are held until 8 Nov.
Backpack's Armani Ferrante says API-driven Wall Street could spawn new Robinhoods
Backpack CEO Armani Ferrante said that if Wall Street's financial infrastructure became APIs developers could call directly, a five-person startup could build the next Robinhood. He said smart contracts could recreate traditional products, such as an S&P 500 tracker, at near-zero fees.
Core Scientific posts $233m in third-quarter revenue as AI pivot grows
Bitcoin miner Core Scientific reported third-quarter revenue of $233m, up 41.8% from $164m in the prior quarter, as its shift into AI and high-performance computing data centre leasing gained traction. The company said high-density colocation drove the increase.
Large US bank's cyber team contacts Binance ahead of internal review
A large US bank's cybersecurity team has contacted Binance and is preparing an internal assessment that could lead to additional security scrutiny, Bitcoin News said on X.
SK Hynix falls 10.5% in 24 hours
SK Hynix dropped 10.5% over 24 hours and was trading at $936.73, according to Gate data.
Nvidia-backed Agility Robotics completes $2.5bn merger and lists on Nasdaq
Agility Robotics, backed by Nvidia and Amazon, completed its merger with Churchill Capital Corp XI and began trading on Nasdaq on 5 November under the ticker AGLT. The deal values the humanoid robot maker at about $2.5bn and is expected to raise about $465m.
CryptoBilis Ledger Drainer deposits 885 ETH worth $2.14m into Tornado Cash, Lookonchain says
CryptoBilis Ledger Drainer deposited another 885 ETH, worth $2.14m, into Tornado Cash about two hours earlier, according to Lookonchain.
Hut 8 uses Bitcoin sale proceeds to cancel 3.34m shares and lifts buyback authorisation to $1bn
Hut 8 used proceeds from Bitcoin sales in the third quarter and after it to repurchase and cancel about 3.34m common shares, and raised its buyback authorisation to $1bn.
Canada extradites man accused of hijacking university supercomputers to mine crypto
Ryan James Roach has been extradited from Canada to the US over allegations that he and Mathiew James Stubbings stole login credentials and secretly mined cryptocurrency on university supercomputers in New York, Tennessee, North Carolina and Massachusetts between June 2016 and December 2019. Roach was extradited on 28 Oct; Stubbings' extradition proceedings continue in Canada. The charges carry up to 10 years in prison and a $250,000 fine.
Bank of England raises rates 25 basis points to 4.00%
The Bank of England raised interest rates by 25 basis points to 4.00%, its first increase since August 2023, in line with market expectations.
IMPBinance hack prompts crypto industry to weigh Wall Street-style controls
The Binance hack has prompted the crypto industry to reconsider settlement delays and transaction screening used in traditional finance, Bloomberg reported. Third Eye's Tian Zeng called for settlement in T+1 hour rather than T+1 day, while FalconX's Joshua Lim said some institutions no longer accept fully irreversible transactions.
Previous related news
- South Korea says no sanctions talks yet over North Korea's alleged Binance theft
- CZ says AI speeds up cyberattacks faster than banks can strengthen defences
- Binance says withdrawals to resume on ETH, BSC, Base, TRX and other networks
Hong Kong legislature passes crypto asset reporting bill
Hong Kong's Legislative Council passed the Inland Revenue (Amendment) (Crypto-Asset Reporting Framework and Revised Common Reporting Standard) Bill 2026 on 4 November. The crypto-asset reporting framework starts on 1 January 2027, with Hong Kong planning exchanges with tax jurisdictions from 2028; the revised common reporting standard starts on 1 January 2028, with exchanges from 2029.
VanEck says AI-focused Bitcoin miners fell 35% in October and look oversold
VanEck said shares of Bitcoin miners that moved into AI data centres fell an average of 35% in October, with debt worries at GPU lessors such as CoreWeave spreading to Hut 8 and Core Scientific. The firm argued the sell-off ignores fundamentals and that long-term lease contracts remain intact.
Hong Kong pilot scheme has tokenised HK$230m of assets, Chan Ho-lim says
Acting Hong Kong Secretary for Financial Services and the Treasury Chan Ho-lim said the city's blockchain and digital asset pilot funding scheme backed nine projects and had tokenised HK$230m of assets by June.
Thailand to block Bitget access from 5 December
Thailand's SEC has filed a criminal complaint against Bitget operator BG Limited over alleged unlicensed digital asset trading and told the digital economy ministry to block access to the platform from 5 December. The regulator says Bitget offered trading services for fees from 2022 to 2025 and promoted them via a Thai-language website and social media.
Seoul court dismisses Dunamu's plagiarism suit against Bithumb
Seoul Central District Court's civil division 63 dismissed all of Dunamu's claims against rival exchange Bithumb over alleged copying of its API documentation and ordered Dunamu to pay all costs. Dunamu had sought about KRW 200m ($140,000).
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