📊 Bitcoin Rebounds, NFTs Crash, Monad Launches, France Taxes

Good Afternoon,

Markets are bouncing back and breaking down in equal measure. Bitcoin has rebounded above $103K after briefly dipping below six figures, while the NFT market crashes 46% in just a month despite rising trading activity. Meanwhile, Monad announces a November 24 mainnet and airdrop launch, and France is under fire for proposing a new crypto wealth tax.

Check out the rest of today’s news below! 👇

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News Roundup

Artificial Intelligence

• Amazon Orders Perplexity to Halt AI Shopping Agent (Decrypt)

• Ilya Sutskever Deposition Reveals How OpenAI Nearly Imploded (Decrypt)

Decentralized, Centralized, & Traditional Finance

• Gun Lobby Praises Circle for Easing USDC Firearm Purchase Ban (DL News)

• Coinbase Slams Bank Lobby Over Crypto Charter Opposition (Cointelegraph)

• DeFi Market Set to Hit $3 Trillion as Real-World Assets Drive Next Wave (DL News)

• Inside Agentic Abu Dhabi: UAE Leads Global Tokenization Push (Cointelegraph)

• DeFi Investigators Uncover $284M in Exposure Linked to Stream Finance (Cointelegraph)

• Binance-Backed Aster Plans Zero-Gas Privacy Chain, Tokenized Futures Expansion (AB Kuai Dong)

• Dinari Partners With Chainlink to Tokenize S&P Digital Markets 50 Index (CoinDesk)

• Gemini Launches XRP Perpetual Contracts in the EU (Gemini)

• Banks Urge OCC to Reject Coinbase’s National Trust Charter (DL News)

• Ripple, Mastercard, and Gemini to Pilot RLUSD for Credit Card Settlements (Decrypt)

Exchanges

• Upbit Lists Intuition (TRUST) With Trading Support in KRW, BTC, and USDT Markets (Upbit)

Exchange-Traded Funds

• U.S. Bitcoin spot ETFs logged $578 million in net outflows on November 4.

• On November4, U.S. spot Ethereum ETFs saw $219 million withdrawn.

• U.S. Solana spot ETFs posted $14.83 million in inflows on November 4.

Infrastructure

• Ethereum Rollup Activity Hits Record Highs as Lighter Drives Surge (L2Beat, L2Beat on X)

• Solana Validator Count Drops 64%, Supporters See Strength (DL News)

• RedStone Debuts HyperStone Oracle for Hyperliquid’s Permissionless Markets (The Block)

Markets

• Crypto Liquidations Surge Past $2B as Bitcoin and Ethereum Plunge (Decrypt)

• Privacy Coin Rally Accelerates as DASH Jumps 150% (The Defiant)

• Gemini Eyes Prediction Markets in Post-IPO Expansion (Bloomberg)

• Trader Loses Nearly $1M Betting Against NYC Mayor-Elect on Polymarket (CoinDesk)

• Wintermute Says Liquidity, Not Halving, Now Drives Crypto Markets (Wintermute)

• Bitcoin Dips to $99K as Macro Shocks and Whale Selling Weigh on Markets (DL News)

• Monero Defies Market Slump as Privacy Demand Surges (Decrypt)

• U.S. Job Growth Surges as ADP Reports 42K Gain in October (ADP)

• Bitcoin Accumulators Buy 50K BTC as 21% Dip Seen as ‘Normal’ (Cointelegraph)

• Bitcoin Rebounds Above $103K After Dip Below Six Figures (Bitcoin Magazine)

Meme Coins

• Iggy Azalea Joins Solana Launchpad Thrust, Migrates MOTHER Token (The Block)

Mining

• Ninjas in Pyjamas Group Sets Bitcoin Mining Target to $16M Monthly (Decrypt)

• Canaan Secures $72M Investment from Brevan Howard, Galaxy Digital, and Weiss (The Block)

• CleanSpark Expands Power Capacity, Secures Texas Site for AI Transition (Cointelegraph)

Non-Fungible Tokens

• NFT Market Crashes 46% in a Month Despite Higher Trading Activity (Cointelegraph)

Politics & Regulation

• SEC Crypto Treasury Probe on Hold Amid Shutdown — Subpoenas Could Follow Reopening (The Block)

• Canada to Introduce Stablecoin Laws, Mirroring U.S. Framework (Cointelegraph)

• Zohran Mamdani Defeats Cuomo to Become NYC Mayor Amid Crypto Policy Divide (The Block)

• What Zohran Mamdani’s NYC Mayoral Win Means for Crypto (Cointelegraph)

• France Faces Backlash Over New Crypto Wealth Tax (Decrypt)

Token Generation Events

• Monad Sets Nov. 24 for Mainnet Launch and Airdrop (The Block)

Treasuries

• TAO Synergies Invests $750K in Yuma’s Bittensor Subnet Funds (TAO Daily)

• Forward Industries’ $1.2B Solana Bet Deepens Losses as Stock Tanks (DeFiLlama)

• Tokenized Treasurys Hit $8.6B as Banks Embrace Onchain Collateral (Cointelegraph)

• MetaPlanet Secures $100M Bitcoin-Backed Loan to Expand Holdings (Coinpost)

• Solana Company Approves $100M Share Buyback Plan (The Block)

• Adam Back’s Bitcoin Treasury Startup Future Raises $34.5M in Switzerland (Cointelegraph)

Venture Capital

• Ripple Raises $500M at $40B Valuation in Fortress-Led Round (CoinDesk)

• Paradigm Leads $6M Seed for Harmonic to Boost Solana Speed (The Block)

• CMT Digital Raises $136M for Fourth Crypto Fund (The Block)

Other News

• Judges Skeptical of Sam Bankman-Fried’s Appeal (Decrypt)

• Balancer Hacker Loses $20M as StakeWise Exploits Smart Contract Loophole (DL News)

• Brothers’ $25M Ethereum Trial Challenges ‘Code Is Law’ Doctrine (DL News)

• Former Rugby Star Trent Merrin Charged in $91K Crypto Theft Case (Decrypt)

• North Korean Spies Are Recruiting Freelancers as Identity Proxies (Cointelegraph)

• Michael Saylor to Speak at Binance Blockchain Week 2025 in Dubai (Cointelegraph)

• Scaramucci Warns Mamdani’s Tax Plan Could Drive Wealthy New Yorkers Away (DL News)

• Cointelegraph Research Partners With EigenPhi to Deliver Audit-Ready MEV Insights (Cointelegraph)

• Why Suing Binance or Market Makers Over the Flash Crash Won’t Be Easy (Cointelegraph)

• When Token Burns Boost Prices — and When They Don’t (Cointelegraph)

• Hong Kong Charges 16 in $205M JPEX Crypto Fraud Case (Decrypt)

• Report: DWF Labs ‘Likely’ Lost $44M in 2022 Hack Linked to North Korea (The Defiant)

• EU Arrests Nine in $689M Crypto Scam Spanning Five Countries (Decrypt)

Check This Out!

Hyperliquid dominated perpetual DEX trading in October with $308 billion in volume, surpassing rivals Lighter and Aster, and maintained unmatched Open Interest. This is a sign of strong trader loyalty.

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