Category: Bitcoin News

US IRS, Treasury Update Guidance for Crypto ETPs

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The US Internal Revenue Service (IRS), the country’s tax-collection bureau under the Department of the Treasury, has updated its guidance for cryptocurrency exchange-traded products (ETPs) to include a safe harbor for trusts to stake digital assets. Treasury Secretary Scott Bessent wrote in a Monday X post that the agencies released guidance offering crypto ETPs “a clear path to stake digital assets and share staking rewards with their retail investors.” According to the guidance available on the IRS website, government agencies would allow crypto trusts to participate in staking, provided they are traded…

Rumble to Purchase Northern Data after Tether Investment

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Video-sharing platform Rumble announced a business combination agreement with AI infrastructure company Northern Data, following its deepening financial ties with stablecoin issuer Tether. In a Monday notice, Rumble said it would acquire Northern Data following its August announcement with Tether as part of a joint venture to purchase the AI infrastructure company. Reuters reported that the acquisition would be valued at about $767 million as part of a stock deal between Rumble and Northern Data. Tether invested $775 million into Rumble in December 2024, citing the platform’s “fundamental values of…

BTC Rebound Targets $110K But CME Gap Clouds Outlook

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Key takeaways: The Bitcoin double bottom pattern may boost bullish momentum toward $110,000. The CME gap near $104,000 could trigger a short-term retracement. Stablecoin buildup and short-term holders’ stress hint at near-term volatility. Bitcoin (BTC) staged a textbook double bottom pattern over the weekend, leading BTC to secure a bullish weekly close above its 50-week moving average. The formation coincided with the daily order block between $98,100 and $102,000, where BTC repeatedly tested the $100,000 zone before rebounding. Bitcoin four-hour chart. Source: Cointelegraph/TradingView Following a bullish break of structure on…

Coinbase Debuts Token Sales Platform with Monad Launch

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Coinbase is launching a new platform for primary token offerings, giving retail investors in the United States access to regulated cryptocurrency initial sales for the first time since 2018. The exchange plans to host about one token sale per month on its new platform, starting with blockchain protocol Monad, which will launch its native token for sale Nov. 17–22. Token sales will run for one week, during which time users can submit purchase requests. After the window closes, an allocation algorithm will favor smaller buyers first, gradually filling larger orders…

Strategy Adds $50M Bitcoin Holdings to Crypto Stockpile

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Michael Saylor’s Strategy increased its cryptocurrency buying strategy by acquiring 487 Bitcoin worth about $50 million, marking an escalation over its previous week’s report. In a Monday filing with the US Securities and Exchange Commission, Strategy said it had acquired 487 Bitcoin (BTC) at an average price of $102,557 per coin — about $50 million. The addition of the BTC brought the company’s total holdings to 641,692 BTC, or more than $67 billion at the time of publication. Source: Michael Saylor The previous week, Strategy reported purchases of 397 BTC,…

Spot BTC, ETH ETFs see $1.7B Outflow but Whales Buy the Dip

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Key takeaways: Spot Bitcoin and Ethereum exchange-traded funds (ETFs) recorded a combined $1.7 billion in weekly outflows. Solana and a select few altcoins continued to attract steady inflows despite market weakness. Onchain data shows that large whales are accumulating BTC, which has kept BTC prices above the $100,000 level.  Spot Bitcoin (BTC) and Ether (ETH) exchange-traded funds (ETFs) faced another week of heavy redemptions, extending a trend of investor caution. From Nov. 3 to Nov. 7, spot Bitcoin ETFs saw $1.22 billion in net outflows, the third-largest weekly total on…

Why Tether Looks More Like a Central Bank Than a Stablecoin Issuer

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Key takeaways Tether operates a Treasury- and repo-heavy balance sheet, holding $181.2 billion in reserves against $174.5 billion in liabilities, leaving $6.8 billion in excess. High interest rates have turned those reserves into profit, generating more than $10 billion in interest income so far in 2025, which is uncommon for a typical crypto issuer. It exercises policy-style levers by freezing sanctioned wallets, shifting supported blockchains and allocating up to 15% of profits to Bitcoin. The central bank comparison has limits. Tether has no public mandate or backstop, relies on attestations…

crypto recovery, ETF ‘floodgate’ hopes

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Institutional demand for digital assets saw a significant uptick as investors digested news about the US Senate reaching a much-awaited deal that could soon end the 40-day government shutdown. On Sunday, the US Senate advanced a procedural vote to end the government shutdown, with the final post-cloture vote expected to occur on Monday, according to the Senate’s schedule.  Cryptocurrency markets saw a rebound after the report. The Starknet (STRK) token rose over 43% as the day’s biggest winner, followed by the Trump-backed World Liberty Financial (WLFI) token, up 28% over…

James Wynn Down To $5K As Crypto Recovers, Doubles Down On Bitcoin Shorts

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While most cryptocurrency investors welcomed the market recovery following the potential end of the US government shutdown, some short sellers were caught off guard by the rebound. The crypto market recovery saw popular high-leverage trader James Wynn’s main Hyperliquid account liquidated multiple times during the past 24 hours, with his wallet’s value sinking to just $5,422, according to Hyperdash data. The unexpected recovery liquidated Wynn 12 times in the last 12 hours, resulting in 45 liquidations over the past two months, according to blockchain data platform Lookonchain. Before the crypto…

XRP Profit-Taking Divergence Could Delay the Recovery Efforts by the Bulls

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Key takeaways: XRP surged 12% to $2.53 on Trump’s stimulus news. Increased profit-taking by long-term holders could slow the recovery. XRP price resistance at $2.60-$2.80 will be a formidable obstacle. XRP (XRP) price surged 12% on Monday following US President Donald Trump’s announcement of a $2,000 stimulus check for most Americans. Now trading near $2.53, the continuation of the rally to $3 could be curtailed by increased profit-realization and stiff overhead resistance. XRP profit realization jumps 240%  XRP’s potential to stage a sustained rally this week is in question as…