Today’s central theme is a contradiction: the industry spent $176 million trying to buy a friendly Congress, but got one that wants to investigate it—while BTC climbed back to $80,000.
1. Democrats won both chambers of the U.S. midterm elections and will take over the committees in January 2027. Reports say the next Congress plans to expand the Crypto Investor Rights Act into a market structure bill, broadening the SEC’s role and narrowing the CFTC’s.
2. $BTC briefly fell to a seven-week low of $75,618, with nearly $300 million in long positions liquidated over 24 hours, before rebounding to $80,500, up 3.5%; $ETH rose 6%.
3. Spot Bitcoin ETFs saw $1.16 billion in net outflows for the week. Bitwise attributed this to weakening sentiment, saying institutional positions remain unchanged.
4. The $6.3 billion Binance heist has entered the money-moving phase: attackers have transferred 81% of the stolen SOL and are continuing to launder it through THORChain.
5. France’s Crédit Mutuel Arkéa confirmed it was hit by a cyberattack. On-chain investigator ZachXBT linked it to a $133 million crypto theft and said it was unlikely to be connected to North Korea’s Lazarus Group.
6. BitMart was hacked again, and its founder admitted the security team was severely understaffed. Analysts also flagged suspicious transfers related to the Mercado Bitcoin incident.
7. Morgan Stanley is tokenizing U.S. stocks and Treasuries through DTCC’s tokenization service. Twenty Wall Street institutions have signed up so far.
8. Canton Coin received an SEC staff no-action letter and was treated as a digital commodity; CC rose 4% on the day. The letter does not constitute a ruling on its legal status.
9. Circle reported third-quarter revenue of $865 million while cutting about 5% of its staff. Reserve income fell 8% year over year.
The key level to watch is $80,000. A close above $80,000 this week, along with ETFs turning from outflows to net inflows, would confirm the rebound; if ETFs continue to see outflows and BTC breaks below $76,000 again, treat the rebound as a failure.
1. Democrats won both chambers of the U.S. midterm elections and will take over the committees in January 2027. Reports say the next Congress plans to expand the Crypto Investor Rights Act into a market structure bill, broadening the SEC’s role and narrowing the CFTC’s.
2. $BTC briefly fell to a seven-week low of $75,618, with nearly $300 million in long positions liquidated over 24 hours, before rebounding to $80,500, up 3.5%; $ETH rose 6%.
3. Spot Bitcoin ETFs saw $1.16 billion in net outflows for the week. Bitwise attributed this to weakening sentiment, saying institutional positions remain unchanged.
4. The $6.3 billion Binance heist has entered the money-moving phase: attackers have transferred 81% of the stolen SOL and are continuing to launder it through THORChain.
5. France’s Crédit Mutuel Arkéa confirmed it was hit by a cyberattack. On-chain investigator ZachXBT linked it to a $133 million crypto theft and said it was unlikely to be connected to North Korea’s Lazarus Group.
6. BitMart was hacked again, and its founder admitted the security team was severely understaffed. Analysts also flagged suspicious transfers related to the Mercado Bitcoin incident.
7. Morgan Stanley is tokenizing U.S. stocks and Treasuries through DTCC’s tokenization service. Twenty Wall Street institutions have signed up so far.
8. Canton Coin received an SEC staff no-action letter and was treated as a digital commodity; CC rose 4% on the day. The letter does not constitute a ruling on its legal status.
9. Circle reported third-quarter revenue of $865 million while cutting about 5% of its staff. Reserve income fell 8% year over year.
The key level to watch is $80,000. A close above $80,000 this week, along with ETFs turning from outflows to net inflows, would confirm the rebound; if ETFs continue to see outflows and BTC breaks below $76,000 again, treat the rebound as a failure.