‍Bitcoin Exhibits 'Asymmetric Risk-Reward' Not Seen Since COVID, Analysts Eye Bullish Rebound André Dragosch, Head of Research at Bitwise Europe, states Bitcoin is currently displaying an "asymmetric risk-reward" profile, a situation not witnessed since the initial COVID-19 market turmoil in March 2020. This suggests Bitcoin's current valuation may be misaligned with the macroeconomic outlook, potentially signaling significant upside. Dragosch notes Bitcoin is pricing in the most bearish global growth outlook since 2022, effectively factoring in a recessionary environment. Despite recent price drops, including falling below $100,000, analysts like Tom Lee anticipate a rebound to $100,000 by year-end and potentially new all-time highs.
‍UK Expands Crypto Reporting to Domestic Users, Enhancing Tax Compliance The UK will mandate domestic crypto platforms to report all transactions for UK-resident users starting in 2026, expanding the OECD's Cryptoasset Reporting Framework (CARF). This grants HMRC unprecedented access to domestic and cross-border crypto data, aiming to prevent assets from evading visibility. The UK also introduced a "no gain, no loss" tax framework for DeFi users, deferring capital gains until tokens are sold. This aligns with a global trend of enhanced crypto tax oversight, seen in South Korea's asset seizure plans, Spain's proposed higher crypto tax rates, Switzerland's delayed data exchange, and the US "Bitcoin for America Act."
‍OpenAI API Users' Data Exposed in Mixpanel Breach, Phishing Risks Increase Analytics provider Mixpanel experienced a data breach on November 8, exposing metadata of some OpenAI API users. The compromised data includes usernames, email addresses, and location details, increasing the risk of targeted phishing and smishing attacks. OpenAI confirmed the incident, stating that sensitive data such as API keys and prompts were not affected. OpenAI has since terminated its use of Mixpanel and advises API users to remain vigilant against suspicious communications. The breach highlights the security challenges in interconnected digital ecosystems and the importance of third-party vendor security.
‍Polymarket Predicts 87% Chance of December Fed Rate Cut, Boosting Crypto Market The cryptocurrency market has seen a significant surge this week, with crypto-linked stocks and Bitcoin (BTC) experiencing notable gains. This positive momentum is largely attributed to the growing bullish sentiment on prediction markets, particularly Polymarket, which indicates an 87% probability of a Federal Reserve interest rate cut in December. The prospect of lower interest rates has directly influenced digital asset valuations. US-listed Bitcoin mining companies like Cleanspark, Riot Platforms, and Cipher Mining recorded double-digit gains, while Circle, issuer of USDC, saw nearly a 10% increase. Bitcoin itself is up approximately 7% on the week. This shift in sentiment follows contrasting statements from Federal Reserve officials throughout November. While initial hawkish remarks caused a dip in rate cut probabilities, comments from Fed Governor Christopher Waller on November 17 suggested a potential cut due to inflation nearing the Fed's 2% target. Prediction platforms like Polymarket and Kalshi are gaining prominence as barometers of market sentiment. Polymarket recently secured a multi-year deal with TKO Group Holdings, while Kalshi reportedly raised $1 billion from Sequoia Capital and CapitalG. Coinbase is also rumored to be developing its own prediction market platform. Robinhood has highlighted prediction markets as a fast-growing revenue driver.
‍FC Barcelona Faces Scrutiny Over $22M Crypto Deal with ZKP FC Barcelona is under fire for a new $22 million sponsorship deal with Samoan cryptocurrency firm Zero-Knowledge Proof (ZKP). Critics, including a former club board member, cite "red flags" like the firm's minimal online presence and alleged ties to controversial influencer Andrew Tate, suggesting financial desperation. ZKP launched its social media and white paper recently and its ownership structure remains unclear, despite claims of regulation and self-funding. Experts express skepticism about new entrants in the complex ZKP field, noting the limited number of skilled programmers worldwide. This deal comes amid a trend of crypto sponsorships in European football, though past partnerships have faced issues like non-payment. FC Barcelona has stated it has no connection to ZKP's token or its issuance.
‍Greenidge Fire Highlights Bitcoin Mining Sector Pressures Amidst Industry Headwinds A fire at the Greenidge Generation Holdings facility in Dresden, NY, has underscored the increasing operational challenges for Bitcoin mining. The blaze, caused by an electrical switchgear failure, disrupted operations but thankfully spared the mining rigs. The incident occurs amidst broader industry pressures including thin profit margins, supply chain issues, rising energy costs, and diminishing block rewards. Hashprice recently fell to $35 PH/s, near the unprofitable threshold for many miners. Further complicating matters, Tether has ceased mining in Uruguay due to energy costs, and Bitmain faces a US investigation over potential national security risks associated with its ASIC hardware. These factors highlight the critical need for resilience and adaptation in the Bitcoin mining sector.
‍Token.com Uses AI Reputation to Filter Crypto Noise Token.com is implementing an AI-driven reputation system to verify content creators and traders in the cryptocurrency market. Co-founder and CEO Mel Gelderman stated the platform aims to cut through market noise and foster credibility. The platform integrates social feeds with a direct trading layer, allowing users to act on verified posts and discover trending tokens. A creator-trader flywheel incentivizes valuable content, with creators earning from trades initiated by users engaging with their posts. Token.com's Reputation Scores system uses AI to analyze predictions, tracking their accuracy over time to promote accountability and transparency, moving away from hype and paid promotions. The platform also offers cross-chain capabilities and wrapped assets in a unified feed, with plans for AI summaries and integration of tokenized stocks and real-world assets.
‍CME Trading Halted for 10 Hours, Bitcoin Futures Surpass $93K The Chicago Mercantile Exchange (CME) experienced a 10-hour trading halt due to a data center cooling issue, causing significant trader backlash. Despite the disruption, Bitcoin futures showed resilience, climbing over $93,000. Traders voiced concerns about market manipulation, especially as the halt occurred before silver futures neared an all-time high. Bitcoin's strength highlights the debate between centralized and decentralized systems.
‍Canton Network: A Decade of Institutional Focus and Strategic Privacy Canton Network, a new Layer 1 protocol, distinguishes itself with a decade-long development focused on institutional adoption and an avoidance of ICOs. CEO Yuval Rooz emphasized serving large-scale financial institutions, leading to a "network of networks" designed for RWA tokenization and settlement. Key 2025 milestones include a $135M funding round and a $540M private round by Tharimmune for a Canton Coin treasury. Canton's unique "need-to-know" privacy model aligns with KYC/AML regulations, attracting major investors like BNP Paribas, Circle Ventures, Citadel Securities, DTCC, and Goldman Sachs.
‍SBSB FinTech Lawyers Identifies Top 5 Crypto Licensing Hubs for 2026 SBSB FinTech Lawyers has released a guide to the top jurisdictions for crypto licensing and business registration in 2026. The guide aids digital asset companies in navigating the evolving regulatory landscape, particularly with the Markets in Crypto-Assets Regulation (MiCA) set for full enforceability in the EU next year. Key factors evaluated include regulatory clarity, licensing complexity, costs, and setup timelines. "MiCA will create a unified regulatory environment across the EU but also introduce higher entry requirements," stated Ivan Nevzorov, Acting CEO at SBSB FinTech Lawyers. The firm offers legal services in over 50 countries.