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ChainCatcher Message: A senior Democratic member among investigators in the U.S. Senate, Senator Richard Blumenthal, is continuing to investigate the financial ties between the stablecoin issuer Tether and has sent a letter to the CEO of the financial services company Cantor Fitzgerald, Brandon Lutnick, requesting relevant information about the relationship between the two companies.
Brandon Lutnick is the son of U.S. Secretary of Commerce Howard Lutnick. After Howard Lutnick joined the administration of U.S. President Donald Trump, Brandon Lutnick took over his leadership role at Cantor Fitzgerald. Cantor Fitzgerald holds and manages Tether’s reserve assets in the United States, and the two parties also have several other business interests.

ChainCatcher message: Bitcoin software company Breez said that since AI coding agents became mainstream, demand for its developer tools has risen significantly, with partnership inquiries increasing by about 14 times. Developers and the AI agents they deploy are looking to integrate Bitcoin payments into their applications. In a company blog post, Breez directly attributed this growth to Anthropic’s Claude Code, a tool launched in February 2025 as a research preview and officially opened three months later.
Breez said that before 2025, potential partners mainly fell into three categories: committed Bitcoin enthusiasts, crypto developers, and fintech companies that viewed Bitcoin as a type of asset. Since Claude Code was released, many developers with little to no Bitcoin experience have begun reaching out for consultations. The demand has come from fitness apps, messaging apps that want users to be able to transfer money to each other, eSIM services for travelers, and even a team working on a mushroom identification app. Breez said these developers mostly chose Bitcoin due to speed: traditional payment processing involves bank accounts and cross-border transfers, often taking weeks or even months, while its SDK can run in minutes.

In a ChainCatcher message, Swiss cryptocurrency exchange WhiteBIT announced that it has integrated the Lightning Network, enabling users to deposit and withdraw Bitcoin via the network. The feature is supported by Voltage, a Bitcoin infrastructure services provider. The deposit fee rate is 0.25% and the withdrawal fee rate is 0.15%. Users can complete transactions using a QR code or payment information.
WhiteBIT founder and CEO Volodymyr Nosov said that WhiteBIT’s mission is to make blockchain technology more accessible and widely adopted by delivering practical and easy-to-use digital asset solutions to achieve this goal. By adding Lightning Network support, Bitcoin can be faster and more useful—helping users top up their accounts, send and receive funds, and use Bitcoin in more real-world scenarios.

ChainCatcher report: In a late-night post, the “giant whale” @jasonleo said that “first set 10 big targets.” He shared that the most worth paying attention to in this BTC pullback is not the size of the drop, but “why it only fell this much.” He pointed out that recently, the 30-year U.S. Treasury yield has been nearing 5.7%, the 10-year yield is around 5.3%. Market expectations for another rate hike within the year have been heating up. Meanwhile, oil prices and inflation pressures have started to rise again. With multiple macro negative factors stacking together, BTC has only pulled back by about 5% so far.
jasonleo believes that the price’s reaction to news itself is important information. In the past, when a single major macro negative factor emerged, BTC could see drawdowns of more than 10%. But this time, under multiple macro negative pressures, the price has not shown any obvious breakdown. Instead, it suggests that the current upward trend has some resilience. He compares the current move with BTC’s earlier bottoming action around $58,000, and believes both show the characteristic of “selling pressure weakening after negative news has been fully absorbed.” However, the market is still in a strong trend. He says that he currently does not think BTC will directly fall to $78,000 or even $74,000, and he sets $79,000 as an observation level for reducing positions: if BTC breaks below $79,000, he will start reducing positions; if the daily candle closes below $78,000, all remaining long positions will be exited and he will wait for the next opportunity to enter; if key levels are not broken, he will continue holding long positions.

ChainCatcher message: In a report released on Wednesday, JPMorgan analyst estimated that around $50 billion in digital-asset capital has flowed in year to date, with an annualized pace of about $66 billion, higher than the $52 billion annualized level in May, but still roughly half the rate seen last year. The report was led by Nikolaos Panigirtzoglou. The analysts estimate inflows by aggregating crypto fund flows, the implied funding rate from CME futures, crypto VC fundraising, and purchases by listed mining companies and corporate treasuries. This time, the calculation also includes treasuries of private companies, private mining firms, and government-related entities.

ChainCatcher message: Netflix released an eight-episode series trailer, telling the story before the collapse of the cryptocurrency exchange FTX, focusing on former CEO Sam Bankman-Fried and his colleague and girlfriend, Caroline Ellison, who leads FTX’s sister company, Alameda Research. The series will premiere on November 19. Anthony Boyle plays Bankman-Fried, and Julia Garner plays Ellison.
The trailer emphasizes the idea that “it’s the optimal strategy to always go all-in on mathematics,” seemingly pointing to FTX using users’ funds for high-risk investments. In the trailer, Ellison, played by Garner, says, “For a good cause, lying isn’t so bad,” echoing Ellison’s testimony at the 2023 trial: she said Bankman-Fried believed rules against lying and stealing don’t necessarily apply to effective altruism, a philosophy that argues for doing as much good as possible, including by accumulating wealth to donate to charitable causes.