Bitcoin rockets above $80,000 for first time since Binance hack despite Democrats sweep, but a historical crash looms

Bitcoin rockets above $80,000 for first time since Binance hack despite Democrats sweep, but a historical crash looms
Bitcoin surged more than 5% from its election-night low to reclaim $80,000 for the first time since Binance's record hack. The cryptocurrency extended its recovery from approximately $75,600 on Wednesday, shaking off concerns that Democrats' takeover of Congress would undermine President Donald Trump's crypto-friendly agenda. According to CoinGlass data, this rally liquidated $453.32 million in… … Read more

Strategy’s $100 STRC comeback could turn a cash drain into fresh Bitcoin buying power

Strategy’s $100 STRC comeback could turn a cash drain into fresh Bitcoin buying power
Strategy's STRC preferred stock briefly returned to $100 on Nov. 4, potentially restoring a funding channel for Bitcoin purchases after months of cash-consuming share buybacks. The company announced on Nov. 4 that its STRC security had reached $100, prompting executive chairman Michael Saylor to declare: “We're ₿ack.” The recovery followed about $2 billion in share… … Read more

Ripple-backed Evernorth faces 73.7 million-share selling overhang after brutal stock market debut

Ripple-backed Evernorth faces 73.7 million-share selling overhang after brutal stock market debut
Evernorth filed to register 73.7 million shares for potential resale as its stock plunged following its Nasdaq debut. The XRP treasury company's Oct. 30 SEC filing identifies Ripple Labs, Arrington XRP Capital and affiliates of Japan's SBI Holdings among investors whose holdings could eventually enter the public market. The registration comes as Evernorth's shares have… … Read more

Democrats reportedly seek greater SEC control over crypto after CLARITY Act collapse

Democrats reportedly seek greater SEC control over crypto after CLARITY Act collapse
House Democrats are reportedly discussing a broader crypto market structure bill built partly on Rep. Maxine Waters' earlier investor-rights proposals. According to a Nov. 4 post by journalist Eleanor Terrett, the proposals include a larger SEC role, a smaller CFTC role, and more government ethics restrictions. Industry sources who spoke with Democratic staff form the… … Read more