🔻Bitcoin Pressured, Aave Buybacks, YouTube Backlash

Good Afternoon,

Let’s jump right into it! A $700B liquidity drain from the U.S. government shutdown is pressuring Bitcoin in the short term but may pave the way for a rebound. Meanwhile, Aave DAO greenlights $50M in annual AAVE buybacks, Web3 gaming creators push back against YouTube’s latest policy changes, and Balancer faces criticism after a $100M exploit despite multiple smart contract audits.

More news to unpack below. 👇

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News Roundup

Artificial Intelligence

• ArXiv Bans AI-Generated Survey Papers After Surge of Low-Quality Submissions (Decrypt)

• Shanghai AI Lab Unveils ‘Context Engineering’ to Make AI Smarter Without Retraining (Decrypt)

Decentralized, Centralized, & Traditional Finance

• SOFR Jumps 18 bps to 4.22% Amid Treasury Supply Surge and Shutdown Fears (MacroMicro)

• Brazil and Hong Kong Link CBDC Networks in Chainlink-Powered Trade Pilot (Cointelegraph)

• Custodia Court Ruling Seen as ‘Speed Bump’ for Crypto Banks, Not the End (The Block)

• Strategy Inc. Plans €-Denominated IPO for 10% Series A ‘STRE’ Preferred Stock (Business Wire)

• Aave DAO Approves Permanent $50M Annual AAVE Buybacks (The Defiant)

• Ark Invest Expands Crypto Exposure With $12 Million Bullish Share Purchase (The Block)

• Stream Finance Halts Operations After $93M Fund Loss and XUSD Depeg (Stream Finance)

• Ripple’s RLUSD Surpasses $1B Market Cap, Top 10 Stablecoin (Cointelegraph)

• Brickken Unveils No-Code Platform for Tokenization (Cointelegraph)

• Perp DEX Volumes Surge to Record $1.2T in October (Decrypt)

Exchanges

• Kraken Enables Crypto Collateral for EU Derivatives Traders (The Block)

Exchange-Traded Funds

• Wall Street Buzz Builds Around Potential XRP ETF (Cointelegraph)

• Bitwise, Grayscale Reveal Fees for XRP and Dogecoin ETFs (The Block)

• U.S. Bitcoin spot ETFs posted $187 million in net outflows on November 3.

• On November 3, U.S. spot Ethereum ETFs saw $136 million in net outflows.

• U.S. Solana spot ETFs recorded $70.05 million in net inflows on November 3.

• BlackRock to Launch iShares Bitcoin ETF on Australia’s ASX (Bitcoin Magazine)

Infrastructure

• Ethereum Refines Grant Strategy to Focus on Targeted Innovation (EF)

• FTSE Russell Partners With Chainlink to Bring Index Data Onchain (The Block)

• Sonic Responds to Balancer-Linked Hack With New Security Measures (Sonic Labs)

• Vitalik Buterin Proposes Replacing modexp to Improve ZK-EVM Efficiency (Vitalik Buterin)

• MyPrize Partners With Crypto.com to Add Social Edge to Prediction Markets (The Block)

Markets

• Ethena’s USDe Market Cap Plunges 40% After October ‘Black Friday’ Crash (The Defiant)

• ETH Eyes Sub-$3K as ETF Outflows Mount and Bearish Pattern Takes Hold (Cointelegraph)

• Hollywood.com and Crypto.com Launch Entertainment Prediction Markets (Decrypt)

• Crypto Whale Bets $55M on Bitcoin and Ether Rebound After Nailing October Crash (Cointelegraph)

• Bitcoin Slips Below Key Support Amid Tech Stock Euphoria (CoinDesk)

• Bitcoin Falls Below $104K Amid DeFi Crisis and Macro Sell-Off (Decrypt)

• Privacy Coins Rally as Investors Seek Shelter from Bitcoin Scrutiny (Decrypt)

• Long-Term Bitcoin Holders Sell 400K BTC as Price Risks Drop to $72K (Cointelegraph)

• XRP Shows Hidden Bullish Divergence as Traders Eye $5 Target (Cointelegraph)

• US Shutdown Drains $700B Liquidity, Pressuring Bitcoin but Setting Stage for Rebound (Decrypt)

Meme Coins

• CZ’s Giggle Academy Denies Links to Volatile GIGGLE Token (Cointelegraph)

Mining

• Cipher Mining Surges 33% on $5.5B AWS AI Deal (The Block)

• HIVE Digital Buys $1.7M Site for AI Data Center in Canada (The Block)

• MARA Reports Record $123M Profit Amid Shift to Energy and AI Infrastructure (The Block)

• Hut 8 Enters Top 10 Public Bitcoin Holders With 13,696 BTC (The Block)

Non-Fungible Tokens

• YouTube’s Policy Shift Sparks Outrage Among Web3 Gaming Creators (Cointelegraph)

Politics & Regulation

• Crypto Lobbying Accelerates as Industry Gains Washington Clout (Cointelegraph)

• U.S. Sanctions North Korea-Linked Network Laundering $3B in Stolen Crypto (Treasury)

• EU’s Plan to Hand Crypto Oversight to ESMA Splits Industry (Cointelegraph)

• India’s Madras High Court Recognizes XRP as Property in Landmark Ruling (Cointelegraph)

Token Generation Events

• Apriori Faces Backlash After Suspicious Wallets Capture 80% of Airdrop (DL News)

Treasuries

• Nasdaq Warns TON Strategy Over $558M Crypto-Funded Stock Sale (Decrypt)

• Tharimmune Raises $540M to Build Canton Coin Treasury in Blockchain Pivot (The Block)

• Crypto Treasuries Set to Diversify Beyond Bitcoin and Ether (Cointelegraph)

• Upexi’s Solana Holdings Rise 4.4% to Over 2.1 Million SOL (The Block)

• Sequans Sells 970 Bitcoin to Halve Debt Amid Treasury Firm Downturn (CoinDesk)

• Solana Treasury Firm Forward Industries Approves $1B Share Buyback (Cointelegraph)

Venture Capital

• Paradigm Backs $7.6M Seed Round for Perp DEX Aggregator Liquid (The Block)

• Donut Labs Raises $22M to Build AI-Powered Crypto Trading Browser (Decrypt)

• Zynk Raises $5M to Expand Stablecoin Payments Network (The Block)

Other News

• Ripple Acquires Crypto Wallet and Custody Firm Palisade (Decrypt)

• Coin Center Disputes ‘Honest Validator’ Theory in Ethereum MEV Case (Cointelegraph)

• Balancer Faces Backlash Despite 11 Smart Contract Audits (Cointelegraph)

• Wintermute Founder Dismisses Rumors of Legal Action Against Binance (Evgeny Gaevoy)

• FTX Drops Motion to Limit Repayments in Restricted Regions (The Block)

• Prosecutors Seek Maximum Term for Samourai Wallet Founders (Decrypt)

• Trump Family’s Crypto Ventures Generate $800M Amid Policy Shift (Cointelegraph)

• SBF Appeals Conviction, Claims He Was ‘Presumed Guilty’ After FTX Collapse (Bloomberg)

• ZKsync Founder Proposes Revamped ZK Tokenomics to Add Real Utility (ZKsync)

• Binance CEO Rejects Claims Exchange Promoted Trump-Linked Stablecoin (Cointelegraph)

Check This Out!

Since 2020, Bitcoin has experienced more frequent 20%, 10%, and 5% dips than both Gold and the S&P 500 — yet it started that year at just $7,100, underscoring its explosive long-term growth. Despite the volatility, Bitcoin’s overall performance still dwarfs traditional assets.

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