Day: November 11, 2025

Coinbase and BVNK Cancel $2 Billion Acquisition Deal

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Coinbase and stablecoin startup BVNK have reportedly parted ways on a $2 billion acquisition deal that would have been among the largest crypto company deals ever and would’ve significantly expanded Coinbase’s institutional stablecoin offering. Fortune reported on Tuesday that the decision was mutual, but it isn’t clear why the parties sought to cancel the deal. Coinbase and BVNK, which builds stablecoin infrastructure, had reached the due diligence stage of the deal after signing an exclusivity agreement in October. “After discussing a potential acquisition of BVNK, both parties mutually agreed to…

IRS Introduces Safe Harbor Allowing Tax-Free Staking for Crypto ETPs

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Revenue Procedure 2025-31 lets ETPs distribute staking rewards directly to investors without triggering extra taxes. The U.S. Treasury and the IRS have announced a new safe harbor that allows crypto exchange-traded funds (ETFs) to stake digital assets without paying extra tax. The guidance resolves a regulatory challenge that previously prevented asset managers from participating in staking networks due to concerns about potentially violating tax laws. Safe Harbor Guidance Under Revenue Procedure 2025-31, ETFs and trusts are now allowed to stake digital assets and share the rewards directly with investors. Treasury…

Prospective CFTC Chair to Face Hearing after Trump Pulls First Pick

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Michael Selig, currently serving as chief counsel for the crypto task force at the US Securities and Exchange Commission, will face questioning from senators next week in a hearing to consider his nomination as the chair of the Commodity Futures Trading Commission. On Tuesday, the US Senate Agriculture Committee updated its calendar to include Selig’s nomination hearing on Nov. 19. The notice came about two weeks after the SEC official confirmed on social media that he was US President Donald Trump’s next pick to chair the agency following the removal…

US Senate Bill Could Officially Classify XRP as a Commodity Under CFTC Oversight

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The bill grants the CFTC authority over digital commodity spot markets, separating it from SEC jurisdiction. A new bipartisan discussion draft from the U.S. Senate Committee on Agriculture, released on November 10, proposes a clear regulatory framework for digital assets. The legislation could formally place XRP and other major cryptocurrencies under the oversight of the Commodity Futures Trading Commission (CFTC) as a commodity, a move that could have significant consequences for Ripple and the broader crypto market. A Path to Legal Clarity The proposed bill, developed by Chairman John…

Prospective CFTC Chair to Face Hearing after Trump Pulls First Pick

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Michael Selig, currently serving as chief counsel for the crypto task force at the US Securities and Exchange Commission, will face questioning from senators next week in a hearing to consider his nomination as the chair of the Commodity Futures Trading Commission. On Tuesday, the US Senate Agriculture Committee updated its calendar to include Selig’s nomination hearing on Nov. 19. The notice came about two weeks after the SEC official confirmed on social media that he was US President Donald Trump’s next pick to chair the agency following the removal…

BTC ‘Wave III’ Setup Hints at $200K Rally Ahead: Analyst

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Key takeaways: Bitcoin’s Wave III expansion could drive prices toward $200,000 to $240,000. The long-term structure remains bullish despite flat futures market activity in Q4. US economic rebound and risk-on sentiment may fuel Bitcoin’s next rally. Bitcoin’s (BTC) long-term price structure is showing renewed strength as analysts anticipate the next phase of its parabolic expansion. According to market analyst Gert Van Lagen, Bitcoin has once again rebounded from its 40-week simple moving average (SMA). Van Lagen said that the corrective Wave II phase appears close to completion, with Wave III…

Coinbase cancels $2B acquisition of stablecoin startup BVNK

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Key Takeaways Coinbase has dropped its plan to buy BVNK, a stablecoin infrastructure startup, for $2 billion. The acquisition was aimed at strengthening Coinbase’s stablecoin payments capabilities. Share this article Coinbase, a US-based cryptocurrency exchange, has abandoned its planned $2 billion acquisition of BVNK, a London-based startup providing infrastructure for stablecoin operations, Fortune reported today. The exchange had been in late-stage negotiations to acquire BVNK as part of its strategy to advance stablecoin payments capabilities before deciding to abandon the deal. Mastercard has also engaged in advanced discussions to acquire…

Three Years After FTX collapse, Crypto Industry Still Feeling the Impact

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When FTX filed for bankruptcy on Nov. 11, 2022, it sent shockwaves throughout the crypto world, erasing billions in market liquidity and shattering confidence in centralized exchanges. The dramatic collapse became a turning point for the digital asset industry, triggering calls for stronger transparency and reactions from regulators. Three years after the exchange’s collapse, transparency initiatives across the crypto industry have proliferated. Proof-of-reserves attestations, audits and onchain analytics represented progress. Still, many of those reforms remain works in progress, and some of FTX’s creditors have yet to be made whole.…

SOL Traders’ Wishes Granted, Except For New Price Highs

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Key takeaways: Solana’s strong onchain metrics and DApps revenue dominance hint at long-term strength despite recent selling pressure from major holders. Solana ETF inflows and diversified onchain activity support SOL, yet macro risks in AI and trade remain key obstacles to a $250 recovery. Solana’s native token, SOL (SOL), fell 6% after flirting with $172 on Monday. The drop largely mirrored a pullback in the Nasdaq Index, which came under pressure after CoreWeave (CRVW US) cut its cloud services revenue forecast and reports surfaced that China plans to ban the…

Crypto Research Firm Blows The Lid Open

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Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott’s dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott’s experience spans a number of industries outside of crypto including…