This Week in Crypto: Nov 3 – Nov 10, 2026

Written with AI from public reporting. Each fact links to the outlet that reported it: check the original before relying on it. Not investment advice.

Security and illicit finance dominated the week. Tracking firms followed the hackers as they slowly moved crypto stolen in Binance’s $6.3 billion breach, the US Treasury cut the exchange MEXC off from American finance, and a French bank confirmed a nine-figure theft that may have been converted into crypto. In Washington, the midterms handed Congress to Democrats, leaving the stalled CLARITY Act’s prospects in doubt. Crypto’s well-funded super PACs did well in House races but lost most of their Senate money. Markets fell alongside a tech-stock selloff and hotter-than-expected inflation: bitcoin ended near $73,600, down about 5% on the week, while ether and solana each fell more than 10%. Wall Street kept building tokenized markets, and bitcoin miners moved further into renting their power to AI companies.

Markets snapshot

• BTC: $73,630.00 (-5.4% over 7 days)
• ETH: $2,046.71 (-10.7% over 7 days)
• SOL: $82.86 (-11.5% over 7 days)

Prices as of Tuesday, November 10, 2026.

Security & Hacks

Binance hackers begin converting part of $6.3B haul to bitcoin; $2.85B frozen, $3.1B not yet moved

Most of the crypto stolen from Binance has still not been laundered. The attackers have scattered funds across more than 20,000 wallets and are steadily swapping smaller tokens into bitcoin, while about $2.85 billion stays frozen.

• Blockchain analytics firm Elliptic reported on Nov. 6 that about $3.1 billion of the stolen crypto had not yet been laundered. It said the attackers had spread funds across more than 20,000 wallets on 16 blockchains, but the bulk of the stolen ETH and bitcoin had not moved. (Decrypt)
• Elliptic said the hackers had swapped stolen tokens into about $124 million worth of bitcoin and that little had likely been cashed out. It put the amount still frozen at $2.85 billion. (The Block)
• According to Elliptic, about $50 million in stolen XRP was swapped, mostly into bitcoin. The bitcoin the attackers obtained from other stolen assets nearly doubled in a single day, to 1,650 BTC. (The Defiant)
• Security Alliance (SEAL), a cybersecurity group, estimated that the attackers had about eight weeks of access to Binance’s systems before the exploit. It said the multi-stage intrusion resembled other large heists, including the $388 million hack of the exchange Bitget. (Cointelegraph)
• Binance said it plans to reopen more withdrawals. (The Block)

Context: Binance is the world’s largest crypto exchange by trading volume. The editor’s summary attributes the hack to TraderTraitor. Background: TraderTraitor is a North Korean state-linked hacking group often grouped with the Lazarus Group. Large thefts are usually laundered in stages, by splitting funds across many wallets and swapping tokens that can be frozen into assets that are harder to seize.

Why it matters: This is the largest crypto theft on record. How much of it can be frozen or traced will shape both Binance’s losses and the debate over whether exchanges and bridges can stop state-backed laundering. The large untouched ETH and BTC holdings mean big laundering moves could still come.

Disputed or unconfirmed: The laundering, conversion and frozen-fund figures are Elliptic’s estimates, and the eight-week access window is SEAL’s estimate. Neither has been independently confirmed in these reports. None of this week’s articles sets out the evidence for the North Korea attribution.

Watch next: Whether the main ETH and BTC holdings start moving, and Binance’s further withdrawal reopenings.

French bank Crédit Mutuel Arkéa confirms attack after ZachXBT flags $133M crypto-linked theft

Crédit Mutuel Arkéa confirmed that outside attackers pushed fraudulent transfers out of the bank’s own account and may have converted the money into crypto. It accepts the scale, though not the exact size, of the $133 million figure from investigator ZachXBT.

• On Nov. 2, ZachXBT, a well-known onchain investigator, flagged $106 million in USDC and USDT stablecoins withdrawn the day before from exchange accounts of an unnamed EU entity. On Nov. 3, he traced another $27 million, put the total at $133 million and named the victim as Crédit Mutuel Arkéa. (Unchained, CoinDesk)
• ZachXBT said he was highly confident the attacker was not North Korea’s Lazarus Group. He also alleged that the bank’s silence had let more than $30 million be laundered. (The Block, Unchained)
• Crypto.com confirmed it had blocked funds linked to the theft. (CoinDesk)
• On Nov. 4, Arkéa confirmed an attack had let fraudulent operations go through. In a follow-up, it said attackers used the bank’s own account, not customer accounts, to send transfers to other banks, which potentially let them buy crypto on specialized platforms. (The Block, Unchained)
• Arkéa said attackers got in through a platform run by a service provider, not its online bank Fortuneo. It said customer assets were unaffected, part of the funds had been blocked, and the losses do not threaten its financial health. (Unchained)

Context: Arkéa is a French regional banking group. The case is unusual because a traditional bank appears to have been drained, with crypto rails then used to move the money.

Why it matters: The case shows how weaknesses at third-party providers can expose banks, and how fast stolen fiat can be turned into stablecoins. It also shows that exchanges like Crypto.com can sometimes freeze such funds.

Disputed or unconfirmed: The routes described differ. ZachXBT says the funds were drained from exchange accounts tied to the bank, while Arkéa says it sent transfers through other banks that may then have been converted to crypto. Arkéa has not confirmed the €118 million ($133 million) figure, only its order of magnitude.

Watch next: Arkéa’s final loss figure and any findings from French police and judicial authorities.

Ex-FBI agent pleads guilty to stealing $2.47M in crypto from wallets tied to 35 investigations

A former FBI agent admitted using wallet credentials stored in bureau systems to steal about $2.47 million. That is far more than he first admitted, and prosecutors say the thefts compromised FBI cases.

• Beginning no later than December 2024, Patrick Steven Yaroch made about 100 fraudulent transfers from wallets linked to 35 FBI investigations, according to prosecutors. The targets included hostile state actors and at least one FBI-built wallet. (Unchained)
• In July, Yaroch told FBI headquarters he had moved about $1 million in roughly 10 transfers. He was fired and arrested on July 31, and agents swept about $925,426 into government wallets with his consent. (Unchained)
• Prosecutors said he had asked ChatGPT about where to settle in the EU, and in June 2026 he took steps to obtain a Portuguese tax ID. (Unchained, Decrypt)
• On Nov. 5, he pleaded guilty to wire fraud and money laundering. He agreed to pay at least $2.4 million in restitution and give up future profits from telling his story. (Unchained, The Block)

Context: Law enforcement agencies increasingly hold seized crypto and wallet credentials, which creates insider-theft risks that physical evidence rooms do not.

Why it matters: The case exposes weak internal controls over seized digital assets at a leading US agency. According to the agreed facts, it also damaged active investigations.

Disputed or unconfirmed: The plea announcement did not explain how investigators traced the difference between his earlier account and the final total.

Watch next: Sentencing on March 4, 2027. He faces up to 20 years.

Breaches hit Mercado Bitcoin, Gnosis Pay, Chainalysis and Keplr wallets

Several crypto firms disclosed breaches this week. In at least two cases, the damage turned out larger than first reported.

• Forensic analysis traced $48.6 million across 11 blockchains from Brazilian exchange Mercado Bitcoin. It found thousands of customer deposit addresses drained hours after the exchange said on Monday that it had contained the breach. (Decrypt)
• Chainalysis, the blockchain analytics firm, disclosed that password hashes and live access tokens were exposed. It had earlier said only non-sensitive customer data was accessed. (Cointelegraph)
• A breach at Gnosis Pay, a crypto debit card service, exposed card numbers, home addresses and linked wallets. One user said the leak connected his address and card to every wallet on his account. (CoinDesk)
• Web3Auth said it moved $5.6 million out of exposed Keplr wallets before hackers could take it. Its statements also mentioned an ‘original attacker’, suggesting some funds were stolen, but it gave no details. (The Block)

Context: Leaks of personal data that link real identities to crypto holdings raise the risk of targeted phishing and physical threats, as well as direct theft.

Why it matters: Initial company statements understated the scope at Mercado Bitcoin and Chainalysis. That suggests users should treat early ‘contained’ claims with caution.

Disputed or unconfirmed: Mercado Bitcoin’s claim that it contained the breach conflicts with onchain data showing later drains. Web3Auth has not clarified whether any funds were lost.

Regulation & Policy

Democrats take House and Senate; CLARITY Act’s path narrows and crypto PAC money mostly backs Senate losers

The midterms ended unified Republican control and put crypto skeptic Elizabeth Warren in line to chair the Senate Banking Committee. Crypto super PACs backed winners in nearly all House races they spent on, but about three-quarters of their money went to losing sides, mostly in Ohio.

• By Nov. 4, NBC projected Democratic control of both chambers: 238 House seats to 146 with 51 uncalled, and 54 Senate seats to 44 with two uncalled. (Unchained, CoinDesk)
• With Democrats controlling the Senate, Sen. Elizabeth Warren is positioned to lead the Banking Committee. The CLARITY Act, a crypto market-structure bill, is already waiting for floor action after a procedural vote failed in September. (The Defiant, Unchained)
• Democrat Sherrod Brown won Ohio’s special Senate race against Republican Sen. Jon Husted. Two crypto PACs, Defend American Jobs and Digital Freedom Fund, had spent to back Husted and oppose Brown. Ohio drew $64.05 million, or 71% of fall crypto-PAC spending in the window Unchained tracked. (The Block, Unchained)
• Unchained’s count of Federal Election Commission filings found four crypto PACs backed the winner in 28 of 30 called House races but only 1 of 4 Senate races. Of $89.5 million spent on projected races, $21.9 million (24.4%) went to the winning side. (Unchained)
• Fairshake, the industry’s main super PAC, spent about $1 million each on six incumbents who voted for the CLARITY Act in 2025. Two of them lost: Reps. Bryan Steil and Bill Huizenga. House Financial Services Chair French Hill was projected to win narrowly. (Unchained)
• Defend American Jobs spent $13.48 million against independent Dan Osborn in Nebraska, where Republican Sen. Pete Ricketts was projected to win. Digital Freedom Fund lost all three of its races, including opposing Democrats James Talarico in Texas and Josh Turek in Iowa. (Unchained)

Context: Fairshake and its affiliates are super PACs funded largely by crypto companies. They have spent heavily to reward candidates friendly to the industry and punish its critics. The CLARITY Act would set out how crypto is regulated, including how oversight is split between the SEC and CFTC. It stalled in the Senate in September. Brown chaired Senate Banking before losing his seat in 2024 and was a frequent industry target.

Why it matters: Committee chairs control which bills get hearings and votes, so a Warren-led Banking Committee would make the CLARITY Act much harder to pass in its current form. The Senate results also weaken the PACs’ threat of electoral punishment, which industry figures had credited with shaping Democrats’ votes.

Disputed or unconfirmed: Tallies of PAC performance vary by method. Reuters counted 29 wins in 34 races for Fairshake alone, while Unchained scored all four PACs’ fall spending against NBC projections. Some races and late spending reports were still pending.

Watch next: Final calls in the remaining races. Background: the new Congress and committee leadership take over in January.

FinCEN cuts MEXC off from US financial system over alleged $16.7B in illicit flows; Binance and OKX distance themselves

The US Treasury barred American financial institutions from moving money to or from the exchange MEXC Global, citing years of alleged dealings tied to Iran, Russia and cybercrime. Binance and OKX moved to limit transfers before the ban takes effect on Dec. 10.

• On Nov. 6, FinCEN, the Treasury’s financial-crimes unit, issued an order under the Combating Russian Money Laundering Act as part of what it called Operation Economic Outcast. The order bars covered US financial institutions from any transfer of funds to or from MEXC Global, with no end date. (Decrypt, Unchained)
• FinCEN alleges MEXC handled about $16.7 billion in likely illicit activity from May 2021 to May 2026. That includes about $1.5 billion tied to Russian sanctions evasion, about $129 million with the sanctioned Russian exchange Garantex as recently as June 2026, more than $1.87 billion with Iranian exposure, $22 million involving Iran’s central bank and Revolutionary Guard, and $1.99 billion linked to cybercriminals, including $37.9 million in suspected ransomware payments. (CryptoSlate)
• DeFiLlama data showed about $126 million in net outflows from MEXC over a 24-hour period around the announcement. About $4.35 billion in tracked assets remained. (CryptoSlate)
• MEXC said customer funds were safe and services were running normally, and that it had started an independent review of its anti-money-laundering and sanctions controls. CEO Vugar Usi said the order does not freeze any assets held on the exchange. (CryptoSlate, Unchained)
• On Nov. 7, OKX founder Star Xu asked users not to send funds directly from MEXC to OKX. He said OKX treats such FinCEN measures much like sanctions. (Unchained)
• On Nov. 10, the order was published in the Federal Register, so US institutions are bound from Dec. 10. The same day, Binance said it would refuse transfers to 13 MEXC-linked entities and hold incoming funds for compliance review. Its list included a Comoros entity that FinCEN’s order does not name. (Unchained)

Context: MEXC is a large offshore exchange. On the 24 hours to Nov. 10, its bitcoin trading volume was roughly one-seventh of Binance’s. FinCEN’s order goes further than limiting correspondent banking accounts, because the agency said funds could reach MEXC outside those channels. South Korea’s regulator had already won approval in October to block MEXC and other unregistered platforms.

Why it matters: This is one of the harshest US tools short of sanctions, and other exchanges are already acting on it voluntarily. That could isolate MEXC from much of the global crypto market, not just US banks.

Disputed or unconfirmed: The illicit-flow figures are FinCEN’s allegations and have not been tested in court. The order cites $16.7 billion, while Treasury press releases say at least $16 billion. MEXC has not accepted the findings and says it will engage with regulators.

Watch next: Dec. 10, when the transfer ban becomes binding on US institutions, and whether other major exchanges follow Binance and OKX.

Kalshi launches US stock perpetuals as states and courts step up pressure on prediction markets

The CFTC cleared the way for perpetual futures on individual US stocks, and Kalshi drew $300 million in volume within hours of launching them. On the prediction-market side, Kalshi and Coinbase lost a bid for court protection, Arkansas sued Kalshi, and a judge barred its sports contracts on two California tribes’ lands.

• On Nov. 3, CFTC Chairman Michael Selig said perpetual futures on single stocks could trade on CFTC-registered exchanges. Under agency rules, the contracts were treated as approved security futures. (Unchained)
• On Nov. 4, the Second Circuit appeals court denied Coinbase and Kalshi interim protection from state enforcement in Connecticut and New York. Its order did not require trading to stop or positions to close. (The Defiant)
• On Nov. 5, Kalshi launched perpetuals on more than 50 NYSE and Nasdaq stocks. Its co-founder said volume passed $300 million within hours. (Unchained)
• Arkansas sued Kalshi, accusing it of illegal gambling and seeking restitution, unpaid taxes and civil penalties. (The Defiant)
• A federal judge granted a preliminary injunction barring Kalshi from offering sports contracts on the lands of two California tribes. (The Block)

Context: Kalshi is a CFTC-regulated prediction market where users trade contracts on real-world outcomes. States argue its sports contracts are unlicensed gambling, and Kalshi says federal oversight preempts state law. Perpetual futures track an asset’s price with no expiry date. Until now they were available only offshore.

Why it matters: Federal regulators are widening what these platforms can offer while states and courts narrow where they can operate. The outcome will decide whether prediction markets and crypto-style products can run nationally under one federal rulebook.

Disputed or unconfirmed: The $300 million launch volume comes from Kalshi’s COO. The estimate of more than $4.5 trillion in annual single-stock perp trading, all of it offshore until now, is also Kalshi’s own.

Watch next: Further rulings in Kalshi’s federal appeals against state enforcement.

US agencies ease crypto rules: 401(k) rule and SEC broker rule reach White House, Treasury drops travel-rule plan, Coinbase gets full trust charter

Several US regulatory steps this week went the industry’s way, opening retirement plans and banking structures to crypto and dropping a proposed surveillance expansion.

• Planned SEC amendments covering capital requirements, protection of customer assets and recordkeeping for broker-dealers handling crypto entered White House review. (The Defiant)
• A rule that would let 401(k) retirement plans hold alternative assets, including crypto, reached the White House. (The Block)
• Treasury withdrew a contested proposal to expand ‘travel rule’ requirements for crypto transactions. (The Block)
• On Nov. 9, Coinbase said the Office of the Comptroller of the Currency, the federal bank regulator, had upgraded its trust charter from conditional to full. (CoinDesk)

Context: Background: the travel rule requires financial firms to pass sender and recipient details along with transfers. Privacy advocates had opposed expanding it in crypto. A federal trust charter lets a firm provide custody and fiduciary services under national banking oversight.

Why it matters: These are executive-branch changes that do not need Congress, so they can move ahead even as the CLARITY Act’s prospects dim under a Democratic Congress.

Watch next: Whether the White House clears the 401(k) and broker-dealer rules for publication.

Markets

Tech selloff and hot inflation push bitcoin toward $73K as ETFs see biggest weekly outflow since June

Crypto fell with US tech stocks, set off more than $1 billion in forced liquidations and lost $1.3 billion from bitcoin ETFs. Stronger-than-expected October inflation then made a December Fed rate hike look nearly certain.

• On Nov. 5, a Nasdaq selloff pushed bitcoin down 6% to $75,700 and ether down 7%, erasing post-election gains. Leveraged positions worth $1.03 billion were forcibly closed (liquidated). (The Block)
• US spot bitcoin ETFs had $1.3 billion in net outflows for the week, the largest since late June. BlackRock’s IBIT, the largest of these funds, accounted for $1.21 billion. (Cointelegraph)
• On Nov. 10, the October consumer price index rose 0.4%, more than expected, with the core rate (excluding food and energy) up 0.3%. (CoinDesk)
• Fed Governor Christopher Waller said he would vote for a 0.25-point rate increase at the December meeting. Market-implied odds of a hike reached about 96%, and bitcoin and stock futures fell. (Cointelegraph, CoinDesk)
• As of late Nov. 10, bitcoin was at $73,630 (down 5.4% over 7 days), ether at $2,046.71 (down 10.7%) and solana at $82.86 (down 11.5%). Total crypto market value was about $2.47 trillion, with bitcoin’s share near 59.8%. (Cointelegraph)

Context: Bitcoin has recently traded closely with tech stocks, so equity selloffs tend to hit it too. Spot ETFs let investors hold bitcoin through brokerage accounts, and their flows are a common gauge of institutional demand. Background: higher interest rates generally weigh on riskier assets such as crypto.

Why it matters: The prospect of the Fed raising rates rather than cutting them takes away a support that crypto bulls had counted on. Heavy ETF outflows suggest institutional buyers are pulling back rather than buying the dip.

Disputed or unconfirmed: Accounts of Waller’s stance differ slightly. Cointelegraph reports he would vote for a 0.25-point hike, while CoinDesk says he suggested a 0.5-point move could be appropriate.

Watch next: The Fed’s December meeting and whether the hike is 0.25 or 0.5 points.

Institutions & ETFs

Tokenization moves into core market plumbing: Morgan Stanley on DTCC, NYSE picks Avalanche, SEC clears Canton Coin, Solana venue filed

Major market institutions took concrete steps toward issuing and settling stocks and bonds as blockchain tokens.

• Morgan Stanley said it was among the first banks to convert US equities and Treasurys into tokenized form through a new service from DTCC, the main US clearing and settlement utility. (The Block)
• SEC staff said they view Canton Coin as a digital commodity and will not recommend enforcement over how it is minted. The decision came about a week after DTCC launched its tokenization service, which runs partly on the Canton Network. (Decrypt)
• On Nov. 9, NYSE said it had chosen Avalanche to provide the core ledger for the clearing firm of its affiliated tokenized-securities platform. That platform is part of a planned 24/7 market. (The Block)
• Formation notified the SEC that it plans to run the first tokenized securities venue on Solana. The launch is expected in early 2027, with initial listings including Exodus Movement, Forward Industries and Galaxy Digital. (The Block)

Context: Tokenization means recording ownership of conventional assets such as shares or bonds on a blockchain. Supporters say this could allow faster settlement and round-the-clock trading. Canton is a blockchain network designed for financial institutions.

Why it matters: When DTCC, NYSE and large banks use these systems, tokenization moves from pilots into the infrastructure that settles real trades. The choice of networks may also favor particular blockchains.

Watch next: Formation’s planned early-2027 launch and further details on NYSE’s 24/7 market.

Companies & Industry

Block sets aside $764M for planned DOJ anti-money-laundering deal as bitcoin profit halves

Jack Dorsey’s Block has agreed in principle to a three-year deferred prosecution over Cash App’s anti-money-laundering failures, costing about $764 million net. Its bitcoin gross profit fell 50% after it cut Cash App fees.

• Block’s quarterly filing, posted Nov. 3, disclosed an October agreement in principle with the Justice Department. Under it, a Bank Secrecy Act charge would be deferred for three years and dismissed if Block complies. (Unchained, Bitcoin Magazine)
• The gross payment is about $964 million, reduced to about $764 million by roughly $200 million in credits for earlier settlements. Block has accrued $764 million, up $238 million from June, and says the final cost could be higher. (The Defiant, Unchained, Bitcoin Magazine)
• No final deal has been signed, a court must approve it, and Block disputes the government’s methodology for its assessment. (Unchained, Bitcoin Magazine)
• Bitcoin gross profit fell to $52 million from $104 million a year earlier, and bitcoin revenue fell 11% to about $1.8 billion. Block attributed the drop mainly to its decision to cut fees on some Cash App bitcoin transactions. (CoinDesk, Unchained)
• Total company gross profit rose 22% to $3.24 billion. The settlement exceeds Block’s reported third-quarter profit of $566 million. (Bitcoin Magazine)

Context: Block runs Cash App and Square. The DOJ and SEC investigations followed a March 2023 short-seller report from Hindenburg Research alleging weak identity checks at Cash App. The SEC closed its probe in March 2026 without recommending action. In 2025, Block paid $40 million to New York’s financial regulator and $80 million to 48 state regulators.

Why it matters: This is one of the largest anti-money-laundering penalties in the crypto-adjacent sector. It could weigh on Block’s application for an industrial bank charter, since regulators consider compliance history.

Disputed or unconfirmed: Bitcoin Magazine says the 2025 state payments are part of the $200 million credit, while Unchained says the filing does not say whether they count.

Watch next: Signing of a final agreement and court approval.

AI & Crypto

Bitcoin miners pivot to AI: Riot names Anthropic in $28B lease, MARA sells 13,597 BTC, Core Scientific quits mining

Large public miners are selling bitcoin and repurposing their power sites for AI data centers. Riot has signed a 15-year, roughly $28 billion lease with Anthropic, and Core Scientific will stop mining by year-end.

• Riot’s quarterly filing named Anthropic as the tenant on a 15-year, roughly $28 billion lease for 910 MW at its Corsicana, Texas campus. The lease was signed Oct. 28 and became binding Nov. 4. (Bitcoin Magazine, The Defiant)
• Riot may reimburse Anthropic up to about $3.6 billion for equipment. If Riot cannot raise financing on acceptable terms, it would instead give rent credits carrying 12% annual interest. Delivery is due in three phases from June 2027 to July 2028. (Bitcoin Magazine)
• Riot sold 20,264 BTC for about $1.5 billion in the first nine months of 2026, though mining still provided about 64% of its third-quarter revenue. (The Defiant, Bitcoin Magazine)
• On Nov. 5, Core Scientific said it will exit bitcoin mining by year-end. Colocation, meaning renting data-center capacity to customers, produced $215.4 million, about 92% of quarterly revenue, while self-mining ran at a loss. (Bitcoin Magazine)
• On Nov. 10, it was reported that MARA had sold 13,597 BTC for $1.1 billion over six weeks. MARA repaid all its bitcoin-backed loans and plans further sales to fund AI data centers. (CoinDesk)

Context: Bitcoin miners control large grid connections and powered land, which AI developers need. Hosting AI workloads offers steadier contracted income than mining, which depends on the bitcoin price. Anthropic, the developer of the Claude models, is now the tenant on 1,101 MW of Riot’s 1,151 MW of contracted capacity.

Why it matters: Large miner bitcoin sales add supply to the market, and the shift may concentrate mining among fewer firms. The pivot also leaves miners’ new business heavily dependent on a few AI tenants.

Disputed or unconfirmed: Riot’s estimates of total rent and the lease’s lifetime value assume full delivery and, for the higher total, both extensions being exercised.

Watch next: Riot’s first Corsicana delivery target of June 28, 2027, and further MARA sales.

Quick hits

• South Korea is seeking a fourth delay to its planned 22% tax on crypto gains, now targeting 2029, months after reaffirming a January 2027 start. (Cointelegraph)
• Paraguay’s President Santiago Peña resigned amid scrutiny of his former ties to the parent of Ueno Bank, a digital lender whose collapse left millions of customers unable to reach their funds. (Cointelegraph)
• The US-sanctioned Moscow Exchange plans to list bitcoin and Tether’s USDT stablecoin in December, aiming to bring home crypto trading that Russians currently do abroad. (CoinDesk)
• Circle, issuer of the USDC stablecoin, reported $865 million in third-quarter revenue and reserve income and disclosed job cuts affecting about 5% of staff. (The Block)
• Tron founder Justin Sun asked a court to sanction Trump-backed World Liberty Financial and its lawyers, accusing the firm of hiding UAE ownership ties until months into his federal lawsuit. (CryptoSlate)
• Nigeria’s central bank now requires stablecoin issuers and other crypto service providers to hold local licenses, and has banned algorithmic stablecoins. (The Block)
• Ethereum developers paused the Glamsterdam upgrade’s rollout to the Hoodi test network while they examine whether two proposed gas changes, EIP-8037 and EIP-8038, could break smart contracts. (Cointelegraph)
• Thailand’s SEC filed a criminal complaint against Bitget’s operator over unlicensed trading, and access to the exchange is due to be blocked from Dec. 5. (Cointelegraph)