Markets are jittery today, with fear creeping back in after a brutal session on Wall Street dragged crypto down with it. Still, there's plenty of action under the surface, so let's dig in.
💥 Bitcoin took a hit as stocks closed out their worst day since April 2025. BTC dropped more than 5% and slipped below $75K, with "Extreme Fear" showing up for the first time in three months. Bitcoin ETFs also bled over $400M in a single day, with BlackRock leading the selling.
⚡ Zcash shipped its NU7 upgrade, and block times dropped from 75 seconds to just 25. The catch is that 12,224 ZEC got stranded in the old Sprout pool, so holders there need to pay attention. Traders clearly liked the tech upgrade, and ZEC responded with a strong rally.
🏦 The U.S. Treasury cut crypto exchange MEXC off from the financial system over roughly $16 billion in alleged illicit flows. That's one of the biggest enforcement moves we've seen in a while, and it's a reminder that compliance is no longer optional.
📉 The 5-year Treasury yield hit its highest level since 2007 after an October jobs surge boosted the odds of a December Fed rate hike. Higher yields are putting pressure on REITs and risk assets alike, and the crypto crowd is feeling it.
🤖 AI panic is rattling tech, and the NASDAQ 100 lost $2.5 trillion in value. Analysts are now asking whether the AI bubble is starting to burst, and whether Anthropic's IPO can survive the valuation debate.
🔐 Gnosis Pay suffered a breach that exposed card numbers, home addresses and linked crypto wallets. If you use crypto payment cards, now is a good time to double-check your security settings.
🇬🇷 Greece passed a crypto tax law with a 10% levy on gains and 15% on staking and DeFi. Expect plenty of debate in the community about how it will affect local traders.
Top movers after news:
🟢↑ ZEC +8.19%
🔴↓ BTC -5.56%
Is this dip a buying opportunity or the start of something bigger?
Did the Treasury's MEXC move go too far, or was it overdue?
Which headline from today do you think matters most for the next month?
Follow me for tomorrow's digest 🔔