MSCI Decides Tonight Whether Strategy Gets Kicked Out of the Index. $2.8 Billion in Forced Selling Is on the Line
Tonight, shortly after 5 p.m. ET, index provider MSCI will publish its November index review, and the crypto world will be watching one name above all others: Strategy. The company that turned itself into the largest corporate holder of bitcoin expects to be kicked out of MSCI's global stock indexes, which would force the index funds tracking those benchmarks to sell their Strategy shares before the market closes on November 30. JPMorgan analysts have estimated the forced selling could reach abo
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Anyone with a Server Running LNbits Told to SHUT DOWN After Security Hole Discovered, a Patch is in the Works…
If you run an LNbits server, stop what you are doing and turn it off. On Sunday, November 8, the project behind the free, open-source Bitcoin Lightning wallet system told every operator to shut down their servers immediately, after what it called a wave of attacks. Two days later the warning is still in force, with no stable security release, no public explanation of the flaw, and no all-clear from the project. What has shown up so far is a test package not meant for production use, which is not
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Coinbase Is Now a Full Federally Approved BANK…
Coinbase is now, officially, a federally chartered trust bank. The Office of the Comptroller of the Currency finished the chartering process on Friday, November 6, and Coinbase announced it on Monday, November 9. The new entity is Coinbase National Trust Company, and it puts America's biggest crypto custodian under direct federal banking supervision for the first time. Before anyone gets carried away, this does not make Coinbase a bank in the way most people use the word. It cannot take your dep
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The Senate Just Gave Binance, Tether and Trump's Crypto Firms a January 4 Deadline [
Four of the biggest names in crypto just got a date circled on the calendar, and it is not one they picked. On November 5, Senator Richard Blumenthal sent letters to Binance, Tether, World Liberty Financial and Fight Fight Fight LLC, the company behind the $TRUMP memecoin, telling them to start handing over records by November 30 and finish by January 4, 2027. The warning was blunt: if the companies do not produce the records voluntarily by that date, the Senate Permanent Subcommittee on Investi
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Bitcoin Falls to Lowest Since August as Nvidia CEO Scandal Triggers $1 Billion in Liquidations
Bitcoin fell to about $73,761 late Sunday, its lowest price since August, before clawing its way back above $75,000. The drop came as crypto traders digested two pieces of bad news at once: an investigation into Nvidia chief executive Jensen Huang, and stalled talks between the United States and Iran. More than $1 billion in leveraged crypto positions were wiped out in 24 hours, and almost all of it belonged to traders who had bet prices would go up. It was the kind of weekend that reminds every
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The Post-Election Rally... That Lasted a Day.
Wednesday's rally lasted about a day. Bitcoin climbed back above $81,000 on Wednesday as markets cheered the midterm results, and by Thursday afternoon it had given the whole move back, falling below $76,000 as a rout in artificial intelligence stocks swept through Wall Street and dragged crypto down with it. The speed of the reversal is the story here, because nothing about Bitcoin itself changed in 24 hours. What changed was the mood in the stock market, and crypto followed it down like it alw
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Block Just Agreed to Pay $764 Million to the DOJ, More than an Entire Quarter of Earnings...
Jack Dorsey's Block has agreed in principle to pay $764 million to settle a Justice Department investigation into anti-money-laundering controls at Cash App, and the number is worth sitting with for a second. The deal, reached in October and disclosed in the company's quarterly filing on November 3, is bigger than the $566 million profit Block reported for the third quarter. Block made less money in three months than it has now agreed to hand over for compliance failures that go back years. The
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Banking Scandal in Paraguay has Citizens turning to Crypto, and a President Trying to Resign ...
A digital bank used by nearly half of Paraguay just collapsed, and the fallout has already claimed a central bank chief and nearly a president. Ueno Bank, which claimed around 3 million customers in a country of roughly 7 million people, was seized by Paraguay's central bank this week after regulators found its solvency ratio had fallen below half of the legal minimum. Customers woke up locked out of their accounts, unable to withdraw or move their money, and the government had to rush emergency
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Two of Bitcoin's Biggest Miners Are Quitting Mining for Good. AI Pays Better
Two of the biggest names in bitcoin mining just told investors they are done mining bitcoin. IREN and Core Scientific both said this week that they expect to wind down their mining operations by December 31, and from January they will be AI data center companies instead. This is not a side project or a slow pivot. Mining now brings in less than a tenth of the money at either company, while renting out power and floor space to AI customers brings in the rest. The machines that used to chase bitco
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Apple and Meta Just Said No to Tokenized Stocks. Only Crypto Companies Are Left on the List
The list of companies that want nothing to do with OKXICE's tokenized stock platform hit 67 this week, and two of the biggest names in tech just joined it. Apple and Meta both filed formal objections to having their shares traded as tokens on the new venue, a joint project from crypto exchange OKX and Intercontinental Exchange, the company that owns the New York Stock Exchange. The count stood at 50 when we last covered this story on Monday, and it has grown by 17 in four days. Of the 62 compani
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Zcash Jumps 12% as Its Fastest Upgrade Ever Goes Live Today
Zcash had a very good day yesterday. The privacy coin jumped close to 12 percent to about $1,318, with more than $1.2 billion changing hands in a single day, and it muscled its way back into the top 10 cryptocurrencies by market value. Unfortunately those were short lived and the market had reversed them by the following day. But what will hold are the legitimate improvements Zcash devs have been working on, as they are about to switch on its biggest network upgrade in years, an upgrade called N
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North Korea's Hackers Deploy their Own 'Rogue' AI's to Hunt For Their Next Targets...
The group behind the biggest crypto heist in history is not done, and it is getting better at its job. The FBI blames North Korea's TraderTraitor unit for the $6.3 billion theft from Binance on October 29, and a new report from Bloomberg says the group is now using artificial intelligence to pick its targets. The unit may have only around a dozen members, according to experts cited in the report, but it hunts what cybersecurity researchers call "big game": large crypto companies with deep wallet
