Latest Crypto News & Market Updates

Trump nominates Hester Peirce successor among SEC, CFTC picks

US President Donald Trump has nominated Steven Levine to replace former Securities and Exchange Commission Commissioner Hester Peirce, one of the agencys most prominent crypto advocates, as part of four nominations to fill vacancies at the SEC and Commodity Futures Trading Commission.　　The White Houses latest announcement on Thursday named two nominees each for the SEC and the Commodity Futures Trading Commission, agencies whose decisions help shape US cryptocurrency regulation, among other functions. All four nominations require Senate confirmation.　　The nominations would replenish several commissioner roles. The SEC currently has only two of its five commissioner seats filled, while CFTC Chairman Michael Selig is the sole member of his agencys five-seat commission.　　The nominations come weeks before Democrats are set to take control of the Senate in January, giving a narrow window for Republicans to confirm Trumps picks.　　Related: House Finance panel chair says regulator actions on crypto ‘fall short’ of CLARITY bill　　Levine, a Republican, was nominated for an SEC term ending June 5, 2030, replacing Peirce, who left the agency in October. Peirce was a leading advocate for clearer crypto rules at the SEC, helping shape its approach to digital assets as the former head of its Crypto Task Force, while Levines views

22 hours agoIndustry

Nearly $600 Million in Crypto Longs Liquidated as Bitcoin and Ethereum Fall to August Lows

Crypto traders betting on higher prices lost $599 million over the past 24 hours. The wipeout came as Bitcoin (BTC) and Ethereum (ETH) slid to their lowest levels in nearly three months.　　Longs made up 88% of $680.81 million in total crypto liquidations, Coinglass data shows. Fridays US producer price data could now decide whether bets on a half-point Fed rate hike grow.　　Follow us on X to get the latest news as it happens　　Sponsored　　Sponsored　　Bitcoin Longs Absorb Nearly Half the Damage　　Bitcoin positions accounted for $325.28 million of the total, with longs making up 95.3%. Ethereum followed at $106.07 million, where 89.7% came from long bets.　　In all, 112,947 traders were liquidated. The largest single order was a $31.09 million Bitcoin long on Hyperliquid, closed at $72,250.　　Crypto Liquidations on November 13. Source: Coinglass　　Leverage on stock-linked contracts unwound too. Nvidia-tracking perpetuals saw about $39.67 million in liquidations following Jensen Huangs exit from Nvidia.　　Those forced sales hit as both majors slid to their lowest levels since August.　　Sponsored　　Sponsored　　Bitcoin and Ethereum Slide to 3-Month Lows　　The Bitcoin price traded at $70,834, per BeInCrypto Markets data. This marked the cryptocurrencys lowest level since August 20. It fell 3.79% over 24 hours and 6.53% over the past week.　　Bitcoin (BTC) Price Falls

22 hours agoIndustry

Are Alt-L1s over？ Security, costs drive smaller chains to Ethereum

Running an independent blockchain has always come with a particular promise: control.　　A standalone Layer 1 architecture allows projects to be the masters of their own destiny, set the rules of consensus, maintain their own validators and build infrastructure around their users, without relying on any other network.　　But with great power comes great responsibility — and considerable expense.　　Blockchains need enough users, developers and economic activity to support the infrastructure that secures them. For some smaller networks, keeping an entire ecosystem afloat no longer makes economic sense.　　Zilliqa is the latest project to confront that reality, announcing plans last week to move away from its L1 architecture and become an Ethereum-based Layer 2 (L2) instead:　　“We know it‘s not great. For nine years we built and ran our own Layer 1. It hasn’t worked.”　　“Usage never reached what a standalone chain needs,” the post explained. “Funding and liquidity for standalone L1s dried up. The recent hacks showed how much it takes to secure a chain alone. The data is onchain for everyone to see.”　　Zilliqa is not alone.　　Blockchain ecosystem Gnosis (which has always been Ethereum-adjacent) is also working to transition Gnosis Chain into an Ethereum-based network through its Ethereum Economic Zone (EEZ) initiative. Its RollupX test

23 hours agoIndustry

Former Nvidia CEO Huang had third alleged affair: Reuters

Former Nvidia CEO Jensen Huang had an intimate relationship with a second company employee, Reuters reported, bringing the number of alleged extramarital affairs to three.　　The report, citing two people familiar with the matter, followed Huangs resignation as Nvidia CEO and a board member on Thursday. Reuters did not identify the other employee in its report and said attempts to reach her were unsuccessful.　　The two previously reported relationships involved Alice Huang, whom US intelligence officials suspect of working for Chinese intelligence, and Kimberly Powell, Nvidias vice president of health care.　　Cointelegraph reached out to Nvidia for comment.　　US Attorney General Todd Blanche said Thursday during a press conference that the Justice Department had not determined whether Alice Huang was a Chinese spy. He confirmed that the FBI was investigating reports that she worked for the Chinese government. Beijing has denied the allegations.　　Nvidia shares fell more than 13% shortly after the US market opened on Thursday, trading at $151.00 as of 2:31 p.m. UTC, according to Yahoo Finance.　　Venture capitalist Haseeb Qureshi argued that the mounting disclosures undermined Huangs credibility, pushing back against tech industry figures defending the Nvidia co-founder.　　“As others have said: ‘when you find two ants in your kitchen, the best estimate for

23 hours agoIndustry

Strategy stock sheds 5% amid MSCI index removal, Bitcoin sell-off

Shares of Michael Saylor‘s Bitcoin treasury company Strategy fell 6.49% on Thursday, closing at $114.41, a day after MSCI confirmed the company’s removal from its global equity indexes and amid a broader cryptocurrency market sell-off.　　On Wednesday, MSCI confirmed that Strategy would be removed from its global equity indexes after the Nov. 30 market close, a move that could trigger selling by funds tracking the benchmarks. JPMorgan previously estimated that the exclusion could result in roughly $2.8 billion in selling pressure.Source: Yahoo Finance　　Ryan Kirkley, CEO of Global Settlement Network, told Cointelegraph that MSCIs decision could help distinguish Bitcoin treasury companies from traditional operating businesses and limit indirect cryptocurrency exposure for passive investors.　　“Index inclusion meant ordinary passive investors, like someone holding a global index fund in their pension, were getting leveraged Bitcoin exposure they never chose. MSCI just fixed that,” he said.　　Kirkley added that MSCIs decision also raises broader questions about whether Bitcoin treasury companies should be classified alongside traditional operating businesses.　　MSCI has said publicly what many people in institutional finance have been saying privately for a while: buying an asset and holding it isn‘t an operating business. It’s a fund that doesnt follow fund rules.　　In its Aug. 31 response to MSCIs

23 hours agoIndustry

Ethlabs drops Hegotá slot proposal in push for 2027 quantum readiness

Ethereum research group Ethlabs said Wednesday it will withdraw its proposal to speed up the networks block production from the planned Hegotá upgrade, urging core developers to prepare the network for quantum attacks by 2027.　　On Wednesday, the group outlined “pqai27,” a proposed roadmap that aims to protect Ethereum against threats from quantum computing and increasingly capable artificial intelligence. It said unrelated upgrades should be reconsidered.　　Ethlabs previously backed Ethereum Improvement Proposal (EIP)-8198, known as Quick Slots, which would initially cut Ethereums slot time from 12 seconds to 10 seconds. The group said it would redirect resources to pqai27 but will still pursue faster slots in 2028.　　For Hegotá, Ethlabs said FOCIL, a planned censorship-resistance feature, should proceed only if it does not jeopardize quantum readiness. The group called Frame Transactions, which would enable more flexible account authentication, central to the proposed transition.　　It said Glamsterdam, the upgrade before Hegotá, should proceed as planned.　　Ethereum core developers have not approved the proposal. The Ethereum Foundations published roadmap still targets December 2029 for quantum resistance. At Devcon, researcher Justin Drake said he hopes to complete the transition in 2028.

23 hours agoIndustry

Tron and Tether bring in Chainalysis after T3 crime unit folds

Tron, Tether and Chainalysis announced a task force Thursday to identify and disrupt illicit activity involving USDT (USDT) stablecoin on the Tron blockchain.　　The Digital Crime Task Force will use blockchain analytics firm Chainalysis data and AI tools to flag suspicious activity and give law enforcement leads to trace and freeze funds, according to an announcement shared with Cointelegraph.　　Bloomberg reported on Nov. 4 that the T3 Financial Crime Unit, which Tron and Tether formed with TRM Labs in 2024, disbanded in late August. An unnamed source cited by the outlet said slow responses and poor coordination hampered the unit.　　Cointelegraph contacted Tether, Tron and TRM Labs for comment but did not receive responses by publication time.　　Related: Binance CSO unwittingly foreshadowed $6.3B hack tactic months before attack　　The task forces priorities include investment and romance scams, crypto theft, terrorist financing, North Korean cyber operations and cartel money laundering.　　“Criminals are using AI to move faster than ever, and waiting for a victim to report a crime is no longer good enough,” Tether CEO Paolo Ardoino said in the announcement. He put Tethers cumulative USDT freezes at more than $7 billion.　　How criminal networks use USDT on Tron　　USDT on Tron accounted for 99.9% of the $1.07 billion

23 hours agoIndustry

Geminis quarterly retail trading volume sinks to 3-year low

Crypto exchange Gemini has just reported its lowest quarterly retail trading volume in three years, despite an increase in overall crypto trading volume.　　Total spot trading volume rose 18% from the second quarter to $4.5 billion, according to Geminis Q3 earnings report. Institutional volume climbed 26% to $3.9 billion, while retail volume fell 14% to $600 million, its lowest level since the third quarter of 2023.　　Gemini said the quarterly increase in spot trading volume was “supported by increased institutional Zcash activity and expanded affiliated market-making,” but did not give a specific reason for the decline in retail trading.　　Despite the retail slump, Geminis exchange revenue increased 7% from the previous quarter to $13.4 million as institutional revenue more than doubled. Retail traders remained its largest source of exchange revenue, contributing nearly three-quarters of the total.　　Crypto exchanges turn to prediction markets for growth　　A number of crypto exchanges also reported softer crypto trading activity in the most recent quarter.　　Coinbase reported softer retail and institutional activity, with consumer spot trading volume falling 9% from the previous quarter to $23.4 billion. Coinbase chief financial officer Alesia Haas said “continued growth in prediction markets helped offset softer crypto trading activity.”　　At Robinhood, crypto revenue fell 55% year-on-year to

23 hours agoIndustry

Wirex Launches Navoka, an AI Agent That Pays From Its Own Bank Account and Card

Under embargo until 1pm GMT 12/11/26, London: Wirex, the global stablecoin infrastructure platform, has today launched Navoka, the first AI agent that pays on behalf of users from a dedicated bank account and card. The news was announced at Full Stack London, Wirexs new stablecoin infrastructure event, and is currently accessible by invite only.　　Juniper Research expects 1.3 billion people to be using agentic commerce by 2031. Yet Visas Trust Index found that only 23% of US consumers trust GenAI to handle payment transactions on their behalf.　　Navoka‘s autonomous payments are designed to fill that trust gap with a model built for control and security: unlike most AI payment tools that pay from a crypto wallet or the user’s own bank or card, each Navoka agent has its own IBAN, debit card, and USDC and EURC wallet, kept separate from the users personal accounts.　　This ensures every card transaction is checked against limits the user sets at the point of authorisation, and Navoka can decline charges, such as subscriptions the user no longer wants.　　Navoka is built for individuals making purchases or transfers, businesses paying contractors and suppliers, and developers adding payments to their own agents. Users easily make payments by messaging Navoka on

Yesterday 08:46Industry

XRP Announces Major Reset on November 25 – Will Price React？

Two XRP Ledger networks will be wiped clean on November 25 after a server crash left critical testing infrastructure unable to recover.　　The announcement comes as XRP struggles near $1.03, raising questions about whether the reset could further damage investor confidence.　　However, real XRP holdings and transactions will remain unaffected.　　Sponsored　　Sponsored　　Why Is XRP Ledger Resetting Its Networks？　　Ripple will reset two networks called Testnet and Devnet on November 25, between 5 p.m. and 6 p.m. Pacific Time, according to XRP Ledger Operations.　　Think of these networks as practice environments. Developers use them to test new payment systems and blockchain features without risking real money.　　The problem began when a server storing Testnets complete transaction history crashed. Ripple says the server cannot recover without a reset.　　Sponsored　　Sponsored　　The company is now increasing storage capacity to prevent similar problems.　　The reset will permanently erase testing accounts, transaction records, balances, and trading setups. Developers will need to rebuild their testing environments.　　“The resets affect Testnet and Devnet only. Other networks, including Mainnet, will continue to operate as usual,” the official announcement confirms.　　This means XRP holders can continue sending, receiving, and trading their tokens normally.　　Such resets have happened before. Ripple successfully reset Devnet in October 2025.　　Could the XRP Ledger Reset Affect XRP Price？　　XRP traded

Yesterday 08:37Industry

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