Bitcoin's resilience to regulation may bolster its market position, but evolving U.S. policies could still sway institutional confidence.

The post Bitcoin withstands US regulatory pressures amid $1B ETF withdrawals appeared first on Crypto Briefing.

Stacks' dominance in Bitcoin layers highlights the potential and volatility of DeFi, with concentration risks and rapid value shifts evident.

The post Stacks leads Bitcoin layers in Q3 DeFi TVL at $88.9 million appeared first on Crypto Briefing.

Expanding power grids could foster technological growth and economic development, avoiding potential bottlenecks from data center restrictions.

The post Governments urged to expand power grids over restricting data centers: Fortune appeared first on Crypto Briefing.

PayPal's aggressive buybacks boost EPS despite stagnant revenue, highlighting reliance on financial engineering over organic growth.

The post PayPal cuts its share count by about 9% as buybacks do the heavy lifting appeared first on Crypto Briefing.

Affirm's AI model and growth strategy could redefine BNPL market dynamics, enhancing competitive edge and investor confidence in sustained demand.

The post Affirm raises growth floor to 30%, unveils new AI underwriting model appeared first on Crypto Briefing.

Bitcoin Magazine

U.S. Treasury Cuts Off MEXC From U.S. Financial System Over Alleged $16 Billion in Illicit Flows

The U.S. Treasury’s Financial Crimes Enforcement Network issued a final order Friday that will cut offshore exchange MEXC Global off from the American banking system over alleged links to sanctions evasion by Iran, North Korea and Russia, the department said.

FinCEN’s order, published as a PDF pending Federal Register placement, finds MEXC a “primary money laundering concern in connection with Russian illicit finance” under section 9714(a) of the Combating Russian Money Laundering Act. Thirty days after that Register notice, covered U.S. financial institutions will be barred from any funds transfer — including convertible virtual currency — to or from MEXC.

Reuters reported the same cut-off Friday afternoon. Treasury framed the move as part of Operation Economic Outcast. It is not an OFAC sanctions designation: the order says it does not rewrite Bank Secrecy Act duties or OFAC rules, and it is a FinCEN funds-transmittal ban rather than a Section 311 proposed rulemaking.

Treasury alleges MEXC facilitated at least $16 billion in illicit flows from May 2021 through May 2026, including nearly $1.5 billion tied to Russian sanctions evasion and about $22 million linked to Iran’s Central Bank and the Islamic Revolutionary Guard Corps’ Qods Force. The platform was still processing trades with sanctioned Garantex and successor Grinex as recently as June 2026, more than four years after OFAC designated Garantex, the release says.

What the order does — and when

The order, signed by FinCEN Deputy Director Jimmy L. Kirby, covers MEXC Global and named affiliates operating outside the United States, including Seychelles-incorporated MEXC Global Ltd / MX Global Ltd, Estonia’s MEXC Estonia OÜ, Switzerland’s GIDA Technology AG and the U.K.’s MXC Global Ltd, plus successors. Covered institutions face civil or criminal penalties for willful violations.

Until the Federal Register publishes the notice, the 30-day clock has not started. As of Friday evening eastern time the Register’s public index still showed no MEXC document, matching the order’s own cover note that publication is pending.

Background on MEXC

Founded in 2018 and formerly branded MXC, MEXC ranks among the world’s 20 largest centralized crypto venues by volume. Treasury puts daily turnover above $1 billion and reserves near $5 billion as of mid-2026, with access claimed across more than 170 countries. The exchange already lists the United States as a prohibited jurisdiction in its user terms, so Friday’s action mainly hits any remaining dollar rails, banking partners and counterparties that still touch U.S. institutions.

Regulators elsewhere have been circling for years. The U.K. Financial Conduct Authority put MEXC Global Ltd on its warning list in March 2024 as unauthorized. Hong Kong’s Securities and Futures Commission warned the same month that the platform was marketing to local investors without a licence. Seychelles’ Financial Services Authority said in May 2026 it took action against MX Global Ltd for unlicensed virtual-asset operations — footnoted in FinCEN’s order.

Those compliance gaps matter because the illicit-flow thesis is specific, not guilt by association. Beyond Russia, FinCEN cites about $1 billion in direct traffic with more than 40 Iranian crypto exchangers, nearly $26 million with the OFAC-sanctioned A7 sanctions-evasion network, and almost $200 million tied to the A7A5 stablecoin. DPRK facilitators and cybercrime flows are also alleged. MEXC has not issued a public response to the Friday order; its main X account kept posting marketing content through the afternoon.

Why it matters for bitcoin markets

Practically, once the order bites, U.S. banks, money transmitters and other covered firms cannot move dollars or crypto to MEXC wallets or accounts. Offshore users may keep trading peer-to-peer, but dollar on-ramps and any bank that still clears for MEXC become legal risk. The template tracks earlier 9714 cut-offs of venues such as Bitzlato, and it lands beside a busy sanctions week that has already seen North Korea crypto designations, an Iranian exchange action, and Russia’s push to put bitcoin trading on the Moscow Exchange.

Whether MEXC contests the finding, seeks an exemption, or quietly reroutes liquidity is the open question. For now the paper trail is clear: a final FinCEN order under 9714(a), a 30-day fuse after Federal Register publication, and Treasury’s claim of at least $16 billion in illicit volume sitting behind the cut-off.

This post U.S. Treasury Cuts Off MEXC From U.S. Financial System Over Alleged $16 Billion in Illicit Flows first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Bitcoin Magazine Books Opens 333-Copy Genesis Book Collector Edition for 3rd Anniversary

Bitcoin Magazine Books opened a third-anniversary campaign Friday for Aaron van Wirdum’s The Genesis Book, offering a redesigned Collectors Edition limited to 333 hand-signed, individually numbered hardcovers in an exclusive Genesis Block slipcase.

Each Collectors Edition hardcover is hand-signed and hand-numbered by van Wirdum, the former Bitcoin Magazine editor-in-chief whose book traces the people, projects and ideas that preceded Satoshi Nakamoto’s peer-to-peer cash design. The standard package is priced at $221 and pairs the book with a limited trading card carrying a Certificate of Authenticity, a collector pin, a sticker sheet, the slipcase and a digital package.

Two one-of-one packages sit outside the ordinary number queue. The #1 package is listed at $5,000 and the #21 package at $2,500; each includes the matching numbered copy, a matching one-of-one collector card and the same accessories as the standard collector package.

Standard collector numbers are assigned in purchase order starting at #2 and skipping #21, the campaign FAQ says. Once preorders close, the signed Genesis print run will not be reproduced.

What ships with the anniversary editions

Beside the signed run, Bitcoin Magazine Books is selling a Premium Edition hardcover for $160 with foil stamping, a ribbon marker, stained page edges and custom endsheets. That edition is not limited, signed, numbered or slipcased, and it does not include the collector accessories or digital files.

A standalone Digital Package at $9.99 delivers the ebook in EPUB and the audiobook in MP4 immediately after purchase, independent of whether the physical campaign clears its funding bar.

Physical collector and premium orders are scheduled to ship in calendar year 2027.

Van Wirdum, who discovered bitcoin in 2013 and later led Bitcoin Magazine‘s editorial desk, frames The Genesis Book as a history of computer scientists, privacy activists and heterodox economists who chased government-independent digital money long before the 2008 white paper — from early cypherpunk culture through experiments such as David Chaum’s ecash, Wei Dai’s b-money, Adam Back’s Hashcash and Hal Finney’s reusable proof of work.

Store images for the slipcase and accessories are artistic renderings; the campaign page notes that color, materials and finishes may vary in production. The campaign is operated by BTC Inc., which publishes Bitcoin Magazine.

This post Bitcoin Magazine Books Opens 333-Copy Genesis Book Collector Edition for 3rd Anniversary first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Thailand SEC Files Criminal Complaint Against Bitget Ahead of Dec. 5 Access Block

Thailand’s Securities and Exchange Commission filed a criminal complaint Thursday against BG Limited, the operator of cryptocurrency exchange Bitget, alleging it ran an unlicensed digital-asset exchange for Thai users from 2022 to 2025, and notified the government to block the platform from Dec. 5.

The complaint, lodged with the Economic Crime Suppression Division, also names Mr. Kritsana Kritsananuwat as an alleged supporter who promoted Bitget through Facebook and YouTube channels, the SEC said in statement No. 241/2026.

From 2022 through 2025, the regulator found, Bitget offered a trading system in the ordinary course of business, charged fees, ran a Thai-language website that could show values in baht, and solicited Thai users on social channels including “Bitget Thailand” on X, “BGB Thai Holder” on Telegram and “bitgetthailand” on TikTok.

That conduct amounts to operating a digital-asset exchange under Section 3 of the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018) without a license, a violation of Section 26 punishable under Section 66, the SEC said. The case now moves to an inquiry official, then prosecutors and the courts.

Separately, the SEC submitted Bitget’s website, other domains and its app to the Ministry of Digital Economy and Society under a 2025 royal decree that authorizes access blocks on unlicensed trading platforms. From Dec. 5, the public “will be unable to access the platform,” the statement said, and investors still holding assets there were told to consider acting before the cutoff.

A licensed path that now sits next to a criminal case

The enforcement push lands weeks after Bitget announced a planned acquisition of GMO-Z.com Cryptonomics (Thailand), a Bangkok digital-asset exchange and brokerage that already holds Thai licenses, through its interest in BTGT Management (Thailand) Ltd.

Under that deal, GMO Internet and its Thai holding company would transfer their entire stake in GMO-Z — about 49% and 50.94%, respectively — to BTGT or a designee at completion, a Sept. 24 GMO Internet filing showed. Bitget said completion remains subject to regulatory approval and, after a change-of-control nod, it intends to introduce its trading platform to Thai users under local rules.

“Thailand is an important part of Southeast Asia’s digital asset landscape, and this acquisition gives us a great opportunity to establish local operations,” Bitget CEO Gracy Chen said in the Oct. 20 release.

The timetable has already slipped. GMO Internet Group pushed the effective date of the share transfer from Oct. 31 to Nov. 30, citing careful work on Thai regulatory applications and closing procedures. That revised date sits five days before the planned Bitget access block.

CoinDesk reported that Bitget’s own terms of use, updated in October, already list Thailand among jurisdictions where its services are prohibited, and that the SEC has not said whether the criminal complaint will weigh on the GMO-Z change of control.

What the block does and does not settle

Thailand has used the same access-blocking tool before. In mid-2025 the SEC referred Bybit, OKX and three other unlicensed platforms for a June 28 cutoff, telling users to move assets first. The Bitget action follows that template — and adds a criminal complaint against the exchange operator and a named promoter.

Licensed venues still sit at the center of Bangkok’s policy mix. Thailand has approved a multi-year capital-gains tax break only for trades on SEC-regulated platforms, and has been expanding regulated crypto products in derivatives and capital markets. Unlicensed platforms get the opposite treatment: investor alerts, access blocks and, now for Bitget, a police referral.

What is not yet clear is whether a criminal case against BG Limited for the 2022–2025 period bars, slows or leaves untouched BTGT’s bid to take over a licensed local operator. The SEC statement does not mention GMO-Z. Bitget has not publicly answered the complaint in a statement posted with the acquisition release.

For Thai users still on Bitget, the practical clock is Dec. 5. For Bitget, the test is whether Nov. 30 closes a regulated door into Thailand — or whether the complaint filed Thursday makes that licensed path the next question the ECD and the SEC have to answer.

This post Thailand SEC Files Criminal Complaint Against Bitget Ahead of Dec. 5 Access Block first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Former FBI Agent Pleads Guilty to Stealing $2.47 Million in Crypto From Investigations

A former FBI agent pleaded guilty Thursday to stealing about $2.47 million in cryptocurrency with wallet credentials the bureau had collected in its own cases, the U.S. Attorney’s Office for the Eastern District of Virginia announced.

Patrick Steven Yaroch, 37, of Ashburn, Virginia, entered pleas to wire fraud and money laundering in federal court in Alexandria. U.S. District Judge Patricia Tolliver Giles accepted the plea. He faces up to 20 years in prison and is scheduled for sentencing on March 4, 2027.

Court papers put the illicit haul at $2,474,380.66. Prosecutors say Yaroch made roughly 100 fraudulent transfers using credentials tied to 35 separate FBI investigations, drawing on wallets controlled by investigation subjects, adversarial nation-state actors and at least one wallet the FBI itself had created for an operation.

The Justice Department Office of the Inspector General had flagged the case in August after Yaroch’s arrest on a criminal complaint. That earlier account described a smaller set of transfers — about 10 moves totaling roughly $1 million — and noted that Yaroch self-reported the activity to two department employees on July 29, 2026. The plea figures are larger.

From 2017 through early 2025, Yaroch worked in the FBI Boston Division on a squad focused on an adversarial nation-state. From February 2025 through July 31, 2026, he served in the FBI’s Counterintelligence and Espionage Division at headquarters, with access to systems that stored cryptocurrency credentials gathered in investigations.

How the FBI credentials turned into cash

Beginning no later than December 2024, Yaroch used that access to move coins out of those wallets and into ones he controlled. After the transfers, he swapped the stolen cryptocurrency into other digital assets and ran further transactions meant to obscure its source, nature and ownership.

Between Nov. 25, 2025, and Jan. 13, 2026, he moved about $93,082 into one of his accounts, then shuffled funds among other accounts to cover debts, including credit cards, car payments and loans, the office said.

FOX 5 DC, citing the same U.S. Attorney’s Office release, noted the Portugal planning that appears in the plea papers. Yaroch asked ChatGPT how to maximize investment returns and where to live in the European Union. After the chatbot suggested buying a vineyard in Portugal, he gave Portuguese lawyers a power of attorney on June 15, 2026, to register him with the Portuguese Tax and Customs Authority, obtain a tax identification number and collect the password to his finance portal. He arranged travel to Portugal for September 2026.

What the plea says the FBI lost

The agreed statement of facts goes beyond the dollar figure. Yaroch’s conduct compromised multiple FBI investigations into criminal groups and nation-state adversaries, the office said, and it compromised FBI sources and methods used in foreign intelligence collection and criminal cases. It also “deprived FBI employees of their ability to carry out their functions to protect public safety and national security.”

First Assistant U.S. Attorney Theophani K. Stamos and Daniel S. Wierzbicki, special agent in charge of the FBI Washington Field Office’s Counterintelligence Division, announced the plea. Assistant U.S. Attorneys Kathleen Robeson and Russell Carlberg are prosecuting, with help from the National Security Cyber Section of the Justice Department’s National Security Division and the DOJ inspector general’s Mid-Atlantic region. The case is 1:26-CR-208 in the Eastern District of Virginia.

The admission lands in a week when federal crypto-crime stories keep stacking up — from a failed bitcoin kidnapping plot that produced its own guilty plea last month to FBI tallies putting U.S. crypto fraud losses above $11 billion in 2025, a figure the White House has used to frame a wider crackdown.

What sentencing will do with the gap between Yaroch’s July self-report and the $2.47 million plea figure is still open. So is how many of the 35 FBI cases can be repaired after an insider treated the bureau’s own wallet credentials as a personal ATM. March 4, 2027, is when Judge Giles gets to answer the first question.

This post Former FBI Agent Pleads Guilty to Stealing $2.47 Million in Crypto From Investigations first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Strive (ASST) Posts $474.8 Million Common Net Income as Bitcoin Yield Hits 63.2%

Strive reported $474.8 million of net income attributable to common stockholders for the third quarter ended Sept. 30, a print that arrived Friday alongside a company claim that Class A total return had outperformed bitcoin by 103.7% year to date through the same date.

GAAP net income was $509.0 million, or $5.24 a share on a fully diluted basis. Almost all of that came from a $533.7 million unrealized gain on digital assets marked to fair value. Operating revenue for the quarter was just $2.7 million, so the earnings line is a treasury mark, not a fee business.

In a post on X that led with the outperformance figure, Strive also highlighted a year-to-date bitcoin yield of 63.2% and a bitcoin dollar gain of $9.00 per assumed diluted share outstanding, both measured through Sept. 30. Chairman and CEO Matthew Cole tied those metrics to the stock’s relative showing against the asset.

“Strive has continued to successfully execute on its treasury management strategy, delivering a strong bitcoin yield year to date in 2026, which I believe is the primary driver of our common equity’s outperformance relative to Bitcoin so far this year,” Cole said in the earnings release.

Bitcoin yield, buys and the preferred stack

Bitcoin yield, as Strive defines it, is the percentage change in bitcoin per share over a period — not a cash yield. On that measure the company posted 18.5% in the third quarter alone and 19.3% from Oct. 1 through Oct. 30, after the SATS preferred debut.

Strive acquired 8,136 bitcoin in the third quarter at an average cost of about $78,885 and 20,373 bitcoin over the nine months ended Sept. 30. Another 15,124 coins followed between Oct. 1 and Oct. 30. Holdings stood at 28,000 bitcoin on Sept. 30 and 43,124 by Oct. 30, keeping Strive among the largest public corporate stacks after recent multi-thousand-coin buys and smaller weekly adds that still trailed Strategy.

Digital assets at fair value were $2.34 billion on the Sept. 30 balance sheet. Cash had risen to $490.4 million by Oct. 30, and Strive still held Strategy’s variable-rate STRC preferred with a fair value of about $50.1 million.

The capital stack that funded the buys is mostly perpetual preferreds. On Oct. 20 Strive closed a registered offering of 7 million shares of its 15% Series A perpetual preferred (SATS) for about $609 million in net proceeds. Preferred dividends of $34.2 million in the quarter are what turned the $509.0 million GAAP profit into the $474.8 million common figure.

Strip the story to nine-month GAAP and the picture flips. For the nine months ended Sept. 30, Strive posted a net loss attributable to common stockholders of $88.4 million. The third-quarter profit is real under fair-value accounting, but it is concentrated in one mark-to-market line.

What ASST stock has done over the past year

ASST itself has not moved in a straight line with the company’s bitcoin-yield scoreboard. Shares closed at $20.59 on Thursday, down about 10% on the day, and traded near $20.70 early Friday. That leaves the stock roughly 29% below its level a year earlier, when Yahoo Finance data put the close near $29, and about 33% under its Oct. 21 local high of $30.75.

The 52-week range on Yahoo Finance runs from $7.02 to $34.40. Year to date, the price path from the Jan. 2 close near $17.30 into the mid-$20s is a gain of roughly 20%, with a February low near the 52-week floor and a September push back toward $30. Through Sept. 30 — the cutoff on Strive’s outperformance claim — ASST had risen about 70% from that January close while bitcoin was down roughly 7% over the same window on Yahoo Finance data, a wide gap even before the company’s own total-return methodology.

The longer chart still carries the scar of 2025, when Asset Entities became the public shell for Strive’s bitcoin-treasury reverse merger and the share price spiked into triple digits on weekly closes before collapsing. Investors who held through that conversion saw a different ride than the tidy year-to-date relative-return figure Strive put at the top of Friday’s note.

Cole said the recent SATS issuance leaves Strive “never been in a better position to generate long-term returns in excess of Bitcoin for our common equity shareholders.” The test for ASST from here is whether another quarter of bitcoin yield and preferred-funded buys can reopen the gap to bitcoin after a year in which the stock still sits well below where it traded twelve months ago, even as the treasury has climbed past 30,000 then 40,000 bitcoin.

This post Strive (ASST) Posts $474.8 Million Common Net Income as Bitcoin Yield Hits 63.2% first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitrefill is an online shop where you pay for vouchers, gift cards, eSIMs and mobile top-ups with cryptocurrencies. You pick, say, an Amazon.de or Rewe gift card, pay with Bitcoin, Ether or a stablecoin, and receive the code by email once the payment is confirmed. You do not need an account. A purchase rarely gets expensive because of Bitrefill itself. The cost comes from three things around the payment: the blockchain's network fee, your exchange's withdrawal fee and the exchange rate, which is fixed on the invoice for only 30 minutes.

For investors in Germany, buying gift cards with crypto has a second side that many overlook: anyone who swaps coins for a gift card disposes of them for tax purposes. This guide explains the process, the costs, the limits and the tax consequences, each as of early November 2026.

What is Bitrefill? The Stockholm crypto shop for gift cards and top-ups

Bitrefill is a crypto e-commerce merchant, meaning a shop that sells digital goods exclusively or mainly for cryptocurrencies. The company was founded in Stockholm in 2014; its co-founder and CEO is Sergej Kotliar. Bitrefill started with mobile top-ups paid in Bitcoin; today its focus is on gift cards.

On its German homepage, Bitrefill lists more than 8,000 products in over 180 countries and, by its own counter, has sold a good 16.4 million gift cards for crypto. These figures come from the provider itself and cannot be verified from outside. What you see in the shop is more reliable: the brands, the value ranges and the payment methods.

One point matters for context: Bitrefill is not a crypto exchange. You do not buy coins there and you do not store them there either. The shop is a way to spend crypto assets you already own. You buy the coins beforehand on an exchange and ideally keep them in a wallet of your own.

Gift cards, eSIMs and mobile top-ups

The range falls into three groups. Gift cards are digital voucher codes for retailers and services, from supermarkets to streaming subscriptions. eSIMs are digital SIM cards with a data allowance for travel; Bitrefill offers them for more than 140 countries, including packages for Germany and the whole of Europe. Mobile top-ups load prepaid credit, in Germany for instance with Vodafone, Deutsche Telekom or Lyca Mobile. As a rule, this does not work for contract plans.

Which cryptocurrencies Bitrefill accepts: Bitcoin, Lightning and stablecoins

According to the payment overview in the help centre from late October, Bitrefill directly accepts the following cryptocurrencies:

• Bitcoin (BTC) on the Bitcoin network and on the Lightning Network
• Ether (ETH) on the Ethereum network and on Base
• Tether (USDT) on Ethereum, Tron, BNB Smart Chain, Polygon, Arbitrum, SUI and TON
• USD Coin (USDC) on Ethereum, Solana, Base, Polygon, Arbitrum and SUI
• Litecoin, Dogecoin, Solana, Dash, SUI and Toncoin

The Lightning Network is a second layer on top of the Bitcoin blockchain on which payments settle in seconds and usually for fractions of a cent. Bitrefill was among the first merchants to integrate it.

Other tokens can be used via Li.Fi Pay, a decentralised swap service that has nothing to do with Bitrefill and swaps your token before payment. Every such intermediate swap costs extra and is a separate transaction for tax purposes. On its homepage, Bitrefill also lists Binance Pay as a payment method.

Your own wallet or an exchange account as the source of payment

In principle, any wallet that can send to an address works. Bitrefill displays a QR code and the receiving address for this. The difference lies in the cost: a self-custody wallet, where you hold the private keys, pays only the network fee. If you pay directly from an exchange, the exchange usually deducts its withdrawal fee from the amount sent, and then too little arrives. Which wallets are suitable for everyday use is shown in our software wallet comparison.

Bitrefill gift cards in Germany: Amazon.de, Rewe and their value ranges

Bitrefill shows the most popular gift cards for Germany on its homepage with fixed value ranges. On November 7, these included:

• Amazon.de from €5 to €200
• Rewe and Lieferando, each from €5 to €150
• Apple from €5 to €250, Google Play from €1 to €500
• Kaufland from €5 to €50, Penny from €2 to €50
• MediaMarkt from €10 to €150, Zalando from €5 to €200
• PlayStation Store from €10 to €300, Steam from €20 to €30

On top of that come travel and mobility vouchers such as Airbnb, Uber or fuel cards. The range changes, and each retailer sets its own value ranges. Always check the product page before you pay.

Country and currency restrictions on gift card codes

A gift card code is tied to a retailer, a region and a currency. Bitrefill distinguishes between global, regional and country-specific products, as well as codes that can only be redeemed in a certain currency. A US gift card for Amazon does not work on Amazon.de. Anyone who buys the wrong country version by mistake does not get their money back, because Bitrefill as a rule does not refund codes that have been delivered.

How a Bitrefill purchase works: invoice, QR code and the 30-minute window

A purchase takes five steps, with or without an account:

1. Choose the product and amount, for example a €50 Rewe gift card, and add it to the basket.
2. Enter the email address the code will be sent to.
3. Choose the payment method, meaning coin and network. Bitrefill creates an invoice with the crypto amount, address and QR code.
4. Send exactly this amount from your wallet to exactly this address.
5. Once the payment arrives, the gift card code comes by email and is also shown on the invoice page.

Step 3 is the crucial one. Because crypto prices fluctuate, Bitrefill guarantees the crypto price for only 30 minutes. If the window expires, you reload the page and get a new invoice with a new rate and a new address. You must not use the old address after that. With stablecoins such as USDT or USDC the price risk is small; with Bitcoin or Dogecoin the amount can change noticeably within half an hour.

Lightning instead of the Bitcoin blockchain

With Lightning the payment arrives in seconds, so the 30-minute window hardly matters. With a payment over the Bitcoin blockchain, by contrast, the waiting time depends on the fee you choose. The help centre gives an example: at 5 satoshis per virtual byte a confirmation can take days, at 60 satoshis per byte more like minutes to hours. Anyone who calculates too tightly when the network is busy risks an expired invoice.

What buying gift cards with crypto costs: network fee, exchange fee and exchange rate

For crypto payments, the help centre does not mention a separate service fee. For non-crypto payments, by card or other conventional methods, it does explicitly mention a service fee and exchange rates with processing costs priced in. The actual cost of a crypto purchase is made up of three components:

• Network fee: the blockchain fee you pay when sending. On Lightning, Tron, Solana or Polygon it is usually low; on the Bitcoin blockchain and on Ethereum it fluctuates with network load.
• Exchange withdrawal fee: if you send directly from an exchange, it deducts its fixed withdrawal fee. The invoice then counts as underpaid.
• Conversion rate: the crypto amount on the invoice is based on the rate Bitrefill applies. You can check yourself whether it contains a mark-up: invoice amount times the current rate at your exchange, compared with the face value of the gift card.

There is one more item many forget: the cost of getting the coins in the first place. Anyone who swaps euros for USDC on an exchange only to pay for a gift card pays a trading fee and the spread. For a one-off gift card, paying the retailer directly in euros is almost always cheaper. Bitrefill makes sense above all if you already own crypto and want to spend it.

Account balance as a way to save

With a free account you can top up a balance in euros, US dollars or Bitcoin and pay for later purchases from it. The network fee is then incurred only once when topping up, not for every single gift card, and you do not have to wait for confirmations. For recurring purchases this is the cheapest route.

Underpayment and expired invoices: how Bitrefill handles refunds

If less arrives than requested, the invoice shows the status "Underpaid Order". According to Bitrefill, the most common cause is fees charged by exchanges, custodial wallets or bridges, which are deducted from the amount sent. You then have two options: send the missing remainder or request a refund of the amount already paid.

If your payment only arrives after the window has expired, Bitrefill also lets you request a refund once the transaction has been confirmed on the blockchain. For payments in volatile coins such as Bitcoin, one clear rule applies: exactly the amount of crypto sent is refunded, regardless of the price. Alternatively, you can have the euro or dollar value credited as Bitrefill balance. Refunds must be requested within 30 days.

Money sent to a wrong address is lost for good. A confirmed blockchain transaction cannot be reversed. Before sending, compare the first and last characters of the address and use the QR code rather than typing addresses by hand.

Bitrefill without an account: purchase limits and identity checks

Being able to buy without an account is one of the main reasons Bitrefill is popular. It is not unlimited, though. According to the purchase limits in the help centre, which Bitrefill bases on its anti-money-laundering policy, the following caps apply, each in US dollars or the equivalent:

• Without an account: at most 15 gift cards a day, up to $500 a day and $1,000 a month.
• Basic account with email: up to $2,000 per card, $5,000 a day and $10,000 a month.
• Verified account: up to 25 cards, $10,000 a day and $50,000 a month.

For verification, Bitrefill requires an identity document, proof of address and a live selfie. Anyone who opens several accounts to get around the limits breaches the terms and risks a ban. Tighter limits may apply to individual products.

Bitrefill cashback and referral programme: what you actually get back

With an account, you collect cashback in Bitcoin on selected products. The homepage lists rates from one percent, for example at Zalando, up to five percent on Bitrefill eSIMs. The catch: the cashback cannot be withdrawn, transferred or refunded and can only be used for further purchases at Bitrefill. It is therefore a discount on your next purchase, not a Bitcoin yield.

The referral programme works in a similar way. After $200 in spending you receive your own referral link. If a referred person also spends $200, both receive $5 in Bitcoin as balance. Promo codes only apply to orders up to €2,000.

Bitrefill Card: a Visa card with a 1.99 percent top-up fee

Alongside the gift card shop, Bitrefill offers a Visa card, virtual or as a plastic card. You load it with crypto, which is converted into euros, and then pay anywhere Visa is accepted. Residence in Germany is permitted; an identity check is required. According to Bitrefill, custody and conversion are handled by the service provider Lightspark Payments Europe, which holds a licence from the Estonian financial supervisory authority.

The key terms from the help centre:

• A 1.99 percent fee on every top-up, on top of the variable cost of conversion.
• A 2.49 percent fee for cash machine withdrawals, no foreign currency fee when paying.
• The first plastic card is free; a replacement costs €10.
• At entry level, at most €15,000 in total top-ups and €10,000 in spending per month.

Once you factor in the top-up fee, the card is not a cheap option for larger amounts. How it compares with other offers is shown in our overview of crypto credit cards at the end of this article.

Paying for a gift card with Bitcoin: why the German holding period applies here too

For tax purposes, buying a gift card with crypto is not a neutral purchase. You swap a crypto asset for a service, and the German tax office treats that as a disposal under Section 23 of the Income Tax Act. If no more than twelve months lie between buying and spending the coins, the gain is a private disposal transaction. The gain is the value of the gift card minus what you originally paid for the coins you spent.

Such gains remain tax-free if all private disposal gains in a year together stay below the €1,000 exemption limit. This also applies to stablecoins: anyone who spends USDC that has gained against the euro also realises a small gain. Keep every Bitrefill invoice, with the date, the crypto amount and the gift card value. What swapping crypto for a gift card triggers in detail is broken down in our article on exchanging Bitcoin for a gift card, and the basics are covered in our guide to crypto tax in Germany.

The German government wants to abolish the one-year holding period, but nothing has been decided. Until any new rules take effect, the one-year period also applies to every gift card purchase.

Bitrefill: Lightning and a prepaid balance cut costs the most

Bitrefill is a practical way to spend existing crypto assets in everyday life without first selling them on an exchange and transferring the money to your bank account. It becomes cheap if you use Lightning or a low-cost network, send from your own wallet and, for frequent purchases, go through a prepaid balance. Three steps help with preparation:

1. Get your coins cheaply: if you first need to buy crypto, compare trading and withdrawal fees in our crypto exchange comparison, because the withdrawal fee decides whether an invoice ends up underpaid.
2. Record purchases for tax: every gift card is a disposal. A tool from our crypto tax software comparison automatically matches acquisition costs and holding periods.
3. Consider an alternative card: if you want to pay with crypto regularly, compare the Bitrefill Card with other offers in our overview of crypto credit cards.

(As of November 7, 2026. This article is not investment advice. Prices and fee structures change; check the terms with the provider before you buy.)

Shiba Inu left the zone around $0.0000045 on Saturday, a level that had caught every pullback since Wednesday. At midday on Saturday SHIB trades at about $0.00000449, roughly €0.00000402, which is 2.2 percent below Friday midday. Over 30 days the token has lost 16.9 percent, while Bitcoin fell 8.2 percent over the same period. The figures come from CoinGecko.

What is established: the break happened in a weekend market with very little turnover, and it coincides with the days in which the one-year holding period expires for purchases made in November 2025. Our assessment follows further down. The price slide alone decides nothing yet; for investors in Germany, the purchase date matters most this weekend.

Shiba Inu price at Saturday midday: $0.00000449, just below the zone

Saturday started quietly. Into the morning, SHIB moved between $0.00000450 and $0.00000453 in the SHIB-USDT pair on the OKX exchange. Around 11 a.m. German time the price slipped below $0.0000045 and has not come back since. The 24-hour high stands at $0.00000461, the low at $0.00000448, almost exactly where the price sits now.

The move is small, but it hits a level we have reported on twice this week. On Wednesday the topic was inflows to exchanges and whether $0.0000045 would hold. On Friday evening, after the US jobs report, SHIB still stood at $0.0000046, and our article on it described the calm as thinly supported.

Held since Wednesday, lost on Saturday: what changed at the SHIB support zone

Three things have shifted since the last article. First, the price: from $0.0000046 on Friday evening to $0.00000449 at Saturday midday, a drop of just over 2 percent. Second, the nature of the test. On Thursday afternoon, according to OKX data, SHIB briefly fell as low as $0.00000444, but closed the hour back at $0.00000448 and stood at $0.00000452 an hour later. Buyers stepped in immediately. On Saturday that quick rebound is missing: the price has been below the level for about two hours without any visible recovery attempt.

Third, the distance to the 20-day line. The average of the closing prices over the past 20 days is $0.00000483, about 7.6 percent above the current price. The longer averages are further away still: the 50-day line at $0.00000528, the 200-day line at $0.00000514. We calculated all three values from CoinGecko's daily data.

SHIB weekend trading: a fraction of Thursday's volume on OKX

A look at hourly turnover explains why a slide on Saturday reads differently from one on Thursday. In the SHIB-USDT spot pair on OKX, tokens worth roughly $22,000 to $91,000 changed hands per hour between midnight and noon on Saturday. On Thursday afternoon, when the price briefly fell to $0.00000444, the strongest hour saw about $549,000, with $260,000 to $347,000 in the hours before and after.

Across all trading venues, CoinGecko shows a 24-hour trading volume of about $38.5 million, after $57.8 million and $63.3 million in the preceding daily readings. In such thin trading, a single larger sale is enough to push through a level. Conversely, the price can be back above it just as quickly on Monday, when volume returns. Anyone who wants to trade should therefore check the order book and the spread between bid and ask at their exchange before placing an order. Which regulated providers list SHIB and what they charge is shown in our crypto exchange comparison.

SHIB vs Bitcoin and Dogecoin: 16.9 against 8.2 percent in 30 days

Saturday is only the latest snapshot of a longer stretch of weakness. Since the start of October, Shiba Inu has lost roughly twice as much as Bitcoin. Over 30 days SHIB is down 16.9 percent, Bitcoin 8.2 percent. Over seven days the ratio is similar: minus 4.5 percent for SHIB, minus 1.8 percent for Bitcoin, which trades at $75,781 at Saturday midday.

The parallel with the other big meme coin stands out. Dogecoin lost 17.7 percent over 30 days and sits at $0.0717. The two tokens are moving almost in lockstep, while Bitcoin cushions the decline. There is a mechanism behind this. When investors cut risk, they sell the most volatile positions first. Meme coins are at the front of that queue, because their price rests mainly on sentiment and liquidity rather than on earnings. When Bitcoin falls, they therefore often fall considerably harder.

The crypto market has been cautious for days. The Fear and Greed Index, a sentiment gauge built from volatility, volume and surveys, stood at 25 points on Saturday according to Alternative.me, in the extreme fear range. For SHIB this means that a recovery of its own, without a tailwind from Bitcoin, is hard to justify in this environment.

OKX futures market: long ratio climbs to 2.23 while the price falls

The futures market paints a picture that does not match the falling price. The ratio of accounts with long positions to accounts with short positions in the SHIB contract on OKX stood at 2.23 at Saturday midday, up from 2.14 on Friday evening. For every account betting on falling prices, there are just over two betting on a rise, and their share has grown even though the price has slipped. How this ratio is distributed across exchanges is shown in our overview of the long/short ratio.

Open positions in the SHIB perpetual contract on OKX add up to about $6.5 million. The funding rate, the fee that the long and short sides exchange every eight hours, is 0.01 percent. Extrapolated to a day, a leveraged long therefore costs about 0.03 percent. That is not much, but it shows that most speculators are still betting on a recovery. If the price keeps falling, exactly these positions come under pressure. Anyone trading with leverage should know the liquidation price of their position and not place it close to Thursday's low. Which platforms for perpetual contracts charge which fees is compared in our overview of perp DEX platforms.

SHIB price levels: $0.00000444 as Thursday's low, $0.00000411 as the yearly low

On the downside, the first level is Thursday afternoon's low at $0.00000444, only about 1 percent below the current price. Buyers last stepped in there. If it fails, the yearly low comes into view: on July 17, 2026, SHIB closed at $0.00000411. From today's level that is about 8.3 percent away. For comparison, on November 3, the day of the US election, the gap was still 10.7 percent.

On the upside, SHIB first has to get back above $0.0000046, Friday evening's level and also the high of the past 24 hours. Above that comes the 20-day line at $0.00000483. Only above the 200-day line at $0.00000514 would the picture of recent weeks genuinely turn.

Loss offsetting under Section 23 EStG: why a November 2025 purchase date matters now

For investors in Germany, this weekend has an aspect that has little to do with the chart. On November 8, 2025, SHIB cost about $0.00001004 according to CoinGecko. Anyone who bought then is roughly 55 percent down in dollar terms; in euros the calculation comes out slightly differently because of the changed exchange rate.

For tax purposes, cryptocurrencies held as private assets in Germany count as private disposal transactions under Section 23 of the German Income Tax Act. If more than one year lies between purchase and sale, a gain is tax-free. The same period also applies to losses, however: anyone who sells only after the one-year period has expired can no longer use the loss for tax purposes. Anyone who sells within the period may offset the loss against gains from other private disposal transactions in the same year, for example against a Bitcoin gain you realised within one year. Whatever remains is carried back to the previous year on request or carried forward to later years.

In concrete terms: anyone who bought SHIB on November 8, 2025 must, under the usual way of calculating the period, sell by November 8, 2026 at the latest for the sale to fall within one year. For purchases on November 7, 2025, the deadline is today, Saturday. Buying back afterwards starts a new one-year period. Whether such a sale pays off depends on whether there are gains to offset this year. Without gains, the realised loss initially only produces a carryforward. We track the political debate on the holding period continuously on our page on the status of the holding period reform.

FIFO with several SHIB purchases: which tranche counts as sold first

Many holders did not buy SHIB on a single day but in several tranches. That raises the question of which purchase counts as disposed of in a sale. According to the Federal Finance Ministry's guidance on crypto assets, the tax authorities accept the FIFO method: first in, first out, so the tokens bought first count as sold first. Anyone who bought in November 2025 and again later will, under FIFO, sell the old tranche with the heaviest losses first.

With a few dozen purchases across several exchanges and wallets, this is hard to track by hand. Tax tools import the history via an API or a CSV export and show the purchase date and the end of the holding period for each tranche. Which programs do this for German investors and what they cost is set out in our crypto tax software comparison. For larger amounts, advice from a tax adviser is also worthwhile, especially if you want to realise losses deliberately and then buy back in.

Our assessment: the thin weekend does not settle anything yet

In the newsroom's view, the slide below $0.0000045 is a warning sign but not yet a break in trend. The low turnover argues for this: at $22,000 to $91,000 per hour on OKX, little selling pressure is needed to breach the level. The persistence of the weakness argues against it. SHIB has been falling twice as fast as Bitcoin for a month, sits below all the important moving averages, and the rising long ratio shows that some speculators have not yet given up. If these positions tip over, a small break can become a bigger one. Monday is likely to be decisive, when volume returns. If SHIB is back above $0.0000046 by then, Saturday was a slip. If the price falls below $0.00000444, the yearly low becomes the issue. Nobody should open a position on sentiment alone; a total loss is possible at any time with meme coins.

Shiba Inu price: below $0.00000444, the yearly low comes into play

1. Check your purchase date. Look up in your exchange history when you bought SHIB. If the purchase dates from November 2025, the one-year period expires these days. A crypto tax tool shows you the deadlines for each tranche.
2. Set your levels. Note $0.0000046 on the upside and $0.00000444 on the downside. Anyone planning to place an order should first compare fees and spreads at the regulated crypto exchanges.
3. Limit leverage. With a long ratio of 2.23 and thin weekend trading, a wave of liquidations can quickly push the price below Thursday's low. Anyone using futures should check the liquidation price and the terms of the perp platforms.

(As of November 7, 2026. This article is not investment advice. Prices and fee structures change; check the terms with the provider before you buy.)

PnL stands for profit and loss. In trading, the metric shows how much money a position is currently making or costing. One distinction matters, and many displays show it only in small print: realised PnL is the result of a closed trade, while unrealised PnL is a pure paper value that changes with every price tick. Only the realised gain lands in your account, and in Germany only that gain counts for the tax office.

If you trade cryptocurrencies such as Bitcoin on an exchange, you see PnL in every position overview, often in green or red and with a percentage. This guide explains how the figure is built, which costs it often does not yet include, and how to evaluate your own trading performance honestly. Tools that do exactly that are listed in our comparison of crypto analytics platforms.

What does PnL mean in trading?

The meaning of PnL is quickly explained: PnL is the difference between the value of a position today and the price you paid on entry. The abbreviation comes from accounting, where the statement of profit and loss is also called the income statement. In trading, however, PnL almost always refers to the result of individual trades or of an entire account, not a company's annual accounts. Some platforms also write P&L or P/L; they mean the same thing.

An exchange usually shows you several PnL values side by side. Daily PnL measures the change since midnight, position PnL the change since your entry, and total PnL combines all positions and often closed trades as well. Which time span is meant is usually stated only in the small print or behind an info icon next to the figure. Read it before you draw a conclusion from a green number.

Realised vs unrealised PnL: a sale against a paper value

Unrealised PnL (also floating PnL or open profit) is the gain or loss on a position that is still open. It describes what you would get if you closed now at the current market price. If the price rises, the paper gain grows; if it falls, the gain shrinks again. At that moment you have earned nothing; you merely hold a value that fluctuates.

Realised PnL only arises when you sell or close the position. From that point the result is fixed, the fees have been deducted, and the money sits in your account as a balance. Many traders look at the unrealised value and feel rich. What counts for your bottom line, though, is what you actually take away.

A comparison helps: unrealised PnL is like the estimated value of your flat, while realised PnL is the amount that reaches your account after completion. Between the two lie the market price on the day of sale, the costs and sometimes a tax.

Also important for the account overview is equity, the capital in your account. Equity is the account balance plus the unrealised PnL of all open positions. If the open loss grows sharply, equity falls, even though the account balance still looks unchanged.

How to calculate PnL: the formula for long and short positions

The calculation is simpler than the many columns of a trading platform suggest. For a long position, where you bet on rising prices:

PnL = (current market price − entry price) × position size

For a short position, where you bet on falling prices, the signs are reversed:

PnL = (entry price − current market price) × position size

Position size is the quantity of the coin, for example 0.5 BTC, not the amount of your collateral. For futures and perpetuals, many exchanges calculate unrealised PnL not from the last traded price but from the mark price. This is a smoothed reference price drawn from several exchanges that filters out brief spikes on a single venue. That is why the PnL display sometimes differs slightly from the price you see on the chart.

You get percentage PnL by dividing the gain by the capital deployed. This is exactly where the misunderstandings begin, because capital deployed can mean the full position value or only the margin posted. More on that in the worked example.

Bitcoin worked example: how fees and funding eat into PnL

An example with round, assumed values shows how far the display and the result can drift apart. You open a long position of 0.5 BTC on a perpetual contract at $70,000. The position value is therefore $35,000. With five times leverage, you post $7,000 as margin.

Ten days later the mark price stands at $73,500. The exchange shows unrealised PnL of (73,500 − 70,000) × 0.5 = $1,750. Relative to your margin that is 25 percent, relative to the position value 5 percent. Both percentages are correct; they simply answer different questions.

Now come the costs that many displays only deduct on closing:

• Trading fee on entry: at an assumed taker fee of 0.05 percent on $35,000, that is $17.50.
• Trading fee on exit: 0.05 percent on a position value of $36,750 comes to $18.38.
• Funding: perpetuals have no expiry date. To keep their price in line with the spot market, the long and short sides pay each other a financing fee at regular intervals, every eight hours on many exchanges. At an assumed 0.01 percent per interval, that adds up to around 0.3 percent over ten days, or roughly $105.

Your realised PnL after closing is therefore around $1,609 instead of $1,750. In calm markets the difference is barely noticeable. With many small trades or high funding, it eats a large share of the profit. How the financing fee is made up in detail is explained in our guide to calculating the funding rate; the basics of the contracts are covered in our article on Bitcoin futures.

Total PnL, ROE and percentages: which metric the exchange shows

Platforms name their metrics differently. Three terms come up almost everywhere:

• Total PnL is the sum of realised and unrealised results over a period or across all positions. Whether fees and funding are included varies by provider.
• ROE (return on equity) relates PnL to the margin deployed. With leverage this figure looks large because the denominator is small.
• PnL as a percentage of position value shows how far the price itself has moved, regardless of leverage.

A single figure is not enough for an honest assessment of your strategy. More telling is a look at several metrics across many trades: hit rate, average gain per winning trade, average loss per losing trade and the ratio between the two. A strategy with a 40 percent hit rate can be profitable if the winners are clearly larger than the losers. Conversely, a high hit rate can lose money if individual losses wipe everything out.

Many traders keep a trading journal for this or use portfolio trackers that import exchange data via an API and display PnL by coin, exchange and period. Which metrics a tool should cover depends on your trading style: for day traders the analysis per trade matters, for swing traders rather the trend over weeks.

Leverage and margin: why unrealised PnL can lead to liquidation

In spot trading you buy the coin entirely with your own money. An unrealised loss hurts, but it forces you into nothing. With leveraged trading it is different. The exchange requires that your equity does not fall below the maintenance margin, the minimum amount that secures a position.

In the example above with five times leverage, a price drop of just under 20 percent is enough for the unrealised loss to have almost consumed your $7,000 margin. Long before the margin is fully used up, the exchange closes the position by force. At that moment the fluctuating paper loss becomes a realised loss, whether you like it or not. How such forced closures work and who has to top up in an extreme case is described in our article on liquidations and margin calls.

Good risk management therefore starts with unrealised PnL. A stop-loss is an order set in advance that closes a position automatically at a fixed price and limits the loss. Many traders also decide what share of their account a single trade may risk at most, often one to two percent. The position size then follows from the distance between entry and stop-loss, not from gut feeling.

What drives PnL: price, position size, costs and the exchange rate

Five factors decide how large your PnL turns out. The most important is the price move between entry and exit. Position size multiplies that move, and leverage increases the risk relative to the margin posted. Fees, spreads and funding take something off in both directions. Many overlook the fifth factor: the exchange rate.

Most crypto trading pairs are quoted against the US dollar or against stablecoins such as USDT. Your trading position can be in profit in dollars and still bring hardly any gain in euros if the dollar weakens against the euro over the same period. For tax in Germany, the gain in euros counts, converted at the rate at the time of purchase and sale. The display in the exchange app does not replace that conversion.

Better decisions follow from this distinction. If you look at PnL only in the exchange's currency, you overestimate or underestimate your result. A simple habit helps improve your own strategy: set the risk per trade before the position is opened, and recalculate PnL in euros regularly.

PnL and tax in Germany: what the tax office counts under Section 23 of the Income Tax Act

For tax purposes, only realised PnL matters. A paper gain on the screen does not trigger tax as long as you do not sell the coins or swap them into another crypto asset. If you hold cryptocurrencies as private assets, a sale produces income from private disposals under Section 23 of the German Income Tax Act (EStG). Gain or loss there is the difference between the sale price on the one hand and the acquisition costs and expenses on the other. Fees for buying and selling therefore reduce the taxable gain, just as they reduce realised PnL in the worked example.

Swapping one coin for another also counts as a sale. Anyone who swaps ether from the Ethereum network for another token therefore realises a gain or loss, even if no euros ever arrive in the account. On the question of which coins count as sold first after several purchases, the Federal Ministry of Finance allows the FIFO method in its letter on crypto assets of March 2025: the units bought first are treated as sold first.

Crypto holding period, exemption limit and loss offsetting for realised PnL

Three rules from Section 23 EStG decide whether your realised PnL costs tax:

• Holding period: if more than one year lies between purchase and sale, the gain on crypto assets held privately is tax-free. A realised gain after 13 months therefore stays untaxed, the same gain after 11 months does not.
• Exemption limit: if your total gain from all private disposals in the calendar year is below €1,000, it stays tax-free. It is an exemption limit, not an allowance. If you reach €1,000 or more, you pay tax on the whole amount, not just on the part above it.
• Loss offsetting: realised losses may only be offset against gains from private disposals, in the same year, the previous year or the following years. They cannot be set against salary or rental income.

An example with assumed figures: you buy 0.1 BTC for €6,000 including fees and sell it after five months for €7,200, less a fee of €7.20. The realised gain is €1,192.80. Because it is above the exemption limit, it is taxable in full at your personal tax rate. Had you waited seven months longer, the same gain would have been tax-free.

Futures and perpetuals can be a different story. Many tax advisers classify gains from them as forward transactions under capital income according to Section 20(2) No. 3 EStG. In that case the 25 percent flat-rate withholding tax plus the solidarity surcharge applies, and there is no holding period. The classification of crypto derivatives has not been settled in every detail. For larger amounts, have it checked by a tax adviser. So that the records are available if needed, it pays to document losses and supporting evidence properly.

Common mistakes when reading the PnL display

The most common mistake is to treat unrealised PnL as money earned. A paper gain can vanish within hours, especially in a market that swings five or ten percent in a day.

A second mistake concerns percentages. An ROE of 50 percent at ten times leverage means a price move of only 5 percent. In the opposite direction, the same move is enough to lose half the margin.

Third, many underestimate running costs. Funding, spreads and fees appear on some exchanges only in realised PnL or in a separate column. If you only look at the unrealised value, you think your strategy is better than it is.

Fourth, tax is often left out of the picture. A trader who makes €5,000 in realised gains within a year keeps noticeably less after tax. Anyone who holds the same coins for more than a year can avoid that. The result after fees and taxes is the figure against which a trading strategy has to be measured.

Fifth, many traders compare their PnL across different exchanges without checking how it is calculated. If one platform uses the mark price and the other the last traded price, or only one of them deducts funding, the figures are not comparable. A consistent export of trading data into a tool of your own solves this problem.

PnL after tax: below €1,000 of annual gains it stays tax-free

PnL is the most important figure in trading, but only the realised value after all costs tells you whether your strategy works. Here is how to put that into practice:

1. Record metrics properly: evaluate your PnL across many trades, with hit rate and the ratio of gains to losses. Suitable tools are listed in our comparison of analytics platforms.
2. Factor in tax: have your realised PnL, including holding periods and fees, calculated automatically so that your tax return is right. An overview is provided by our comparison of crypto tax software and portfolio trackers.
3. Compare fees: every trading fee and every funding payment reduces your realised PnL directly. How providers differ is shown in our crypto exchange comparison.

(As of November 7, 2026. This article is not investment advice. Prices and fee structures change; check the terms with the provider before you buy.)

Bitcoin is trading at around $75,900 on Saturday morning, roughly €68,100, according to CoinGecko price data. That puts the price almost exactly on the cost basis of short-term investors, which the analytics firm Glassnode put at $75,700 in its weekly report of November 4. What the data show: most of the coins bought over the past five months are now under water, and three important levels converge below the price between $73,000 and $76,000. Our assessment follows further down. The zone is sturdier than the mood suggests, but a daily close below $73,000 would change the picture.

Where the price could head over the coming months is covered in our Bitcoin price prediction. This article sticks to the short term and to a metric the price chart alone does not show: the average price at which the most recent buyers got in.

Short-term holder cost basis: what Glassnode measures at $75,700

Glassnode splits all bitcoin into two groups by age. Short-term holders are addresses whose coins last moved less than 155 days ago. The cost basis of this group is the average price at which those coins last changed hands. On November 7, that window reaches back to early June 2026.

The metric matters because it reflects the behaviour of a specific group of investors. Someone who bought only a few weeks ago reacts more sensitively to losses than someone who has held for years. When the price trades above the cost basis, recent buyers are on average in profit and rarely sell in a hurry. When it falls below, they slip into the red. Some of them then sell as soon as the price returns to their entry level, so they can get out without a loss. That is why the line often acts as support in uptrends and as resistance in downtrends.

Alongside the short-term holder cost basis, Glassnode cites the True Market Mean at $77,700. It describes the average cost basis of all active investors, excluding coins that have not moved for a very long time. Bitcoin closed just below this line on November 3 and fell to $76,100 overnight before initially recovering. Since Thursday's slump, bitcoin has been trading about $1,800 below it.

38 percent in profit: how quickly recent buyers flipped to losses

At the start of October, according to Glassnode data, almost every coin held by short-term investors was in profit. The share reached 97.5 percent or more, a zone Glassnode flags as a sell line: nearly every recent buyer had a gain they could take. After the decline from the September high, the share has dropped to around 38 percent. Most coins from the past five months are therefore below their purchase price.

The September high, according to CoinGecko daily data, was $86,597 on September 22. Measured from today's level, bitcoin has lost a good 12 percent since then. The decline came in steps. In early November the price swung between $76,700 and $78,300; on November 5 it opened at $80,443, on November 6 at only $76,006. A one-day drop of 5.5 percent pushed a large share of recent buyers below their entry price at a stroke.

Glassnode reads the swing as a cooling of excess: the market is far less stretched than in September. If the share in profit climbs back above 50 percent while the price holds, the analysts would take that as a sign that recent buyers are regaining confidence. It would not take much, since the price would only need to rise a little above the $75,700 cost basis and stay there.

Bitcoin support between $73,000 and $76,000: three levels in one place

Three levels sit close together below the current price. The first is the short-term holder cost basis at $75,700. The second is the average of the past 50 weeks: by our own calculation from CoinGecko daily data, averaged over 350 days, it stands at around $75,770 on Saturday. The third is the simple 200-day moving average at around $73,200. It measures the mean price of the past 200 days, and many market participants treat it as the dividing line between an uptrend and a downtrend.

Glassnode reaches the same conclusion from data on leveraged futures. After the slide from the September high, many liquidation levels for long positions have already been cleared. A liquidation is the forced closure of a leveraged position once the posted collateral no longer covers the loss. Below the price, Glassnode says, what remains is mainly a band between $73,000 and $76,000, plus a large block between $60,000 and $63,000 left behind by the August breakout.

The zone therefore cuts both ways. On the one hand, the band attracts buyers, because many investors defend their entry price there. On the other, it can trigger a wave of forced selling if the price breaks through it and the long positions sitting there are closed. If you trade with leverage yourself, compare your position's liquidation price with this band. If it lies between $73,000 and $76,000, it sits exactly where many other positions would be wiped out too.

Bitcoin since Friday evening: the $74,790 low has held

Our prediction from Friday evening focused on outflows from US bitcoin ETFs and named two levels: Friday's low of $74,790 on the Kraken exchange and the 200-day line, then at $73,192 according to Kraken data. Bitcoin stood at around $75,800 on Friday evening. Little has moved since, and that calm is the weekend's finding. According to CoinGecko, the low of the past 24 hours is $74,921 and the high $76,266. At just under 1.8 percent the range is narrow, and both of Friday's levels are untouched.

What is new is the view of cost bases. Friday's prediction worked from price action and fund flows. The Glassnode metric asks where the coins were actually bought. Both approaches lead to the same zone, and that agreement makes it more reliable than any single line. Sentiment is new as well: the Fear and Greed Index from alternative.me fell to 25 points on Saturday, into extreme fear, after 28 points on Friday and 50 on Thursday.

Short positions above the market: the biggest block sits at $87,000

Above the price, the opposite has built up over the past week. According to Glassnode, liquidation levels above the price grew even though bitcoin lost around 3.5 percent over the period. Traders opened short positions into the decline, that is, bets on falling prices. The largest block sits at around $87,000, close to the September high.

Positions like these are fuel for a counter-move. If the price rises, short sellers have to buy back from a certain level to limit their losses, or their positions are closed by force. Those purchases push the price higher still, a process known as a short squeeze. From today's level, though, $87,000 is almost 15 percent away. Two stops lie on the way: first the True Market Mean at $77,700, then the zone around $80,000, where bitcoin turned lower on Thursday.

For retail investors, this argues against high leverage in either direction. A short squeeze hits bets on falling prices as hard as a slide through support hits leveraged buyers. Regulated crypto brokers cap leverage on crypto CFDs for retail clients in the EU at two to one, while trading venues outside the EU often offer many times that.

Options market and ETF flows: $18 billion in calls, hardly any fresh money

In the options market, according to Glassnode data, traders hold call options worth around $18 billion across all maturities, against put options of $13 billion. The largest December call positions sit at $80,000, $90,000, $100,000 and $120,000, the largest puts at $60,000 and below. Glassnode itself cautions that open positions do not show who bought and who sold. The analysts believe part of the calls come from holders earning a premium with them.

The next two big expiries are November 27, with $5.7 billion in open interest, and December 25, with $12.5 billion. The max pain price, at which the largest share of options expires worthless, is $80,000 for November and $76,000 for December. It therefore sits on both sides of the current price. Glassnode consequently sees no clear pull in either direction from the options market.

Outside support is missing. According to Glassnode, US spot ETFs lost a net amount of just under $1 billion in the two weeks to November 2. For November 2 itself, sources cite between $398.6 million (SoSoValue data via the TFTC tracker) and $640 million (Glassnode). Trading in the funds has been running at about $1.3 billion a day since May, roughly a third of the earlier pace. Glassnode describes a market in which mostly capital already in crypto is circulating, while noting that ETF flows have so far tended to follow the price rather than lead it.

Bitcoin after the midterms: earlier elections were followed by one last pullback

On November 3, the Democrats won both chambers of Congress in the US midterm elections, by a wider margin than expected. Glassnode analysed the three previous midterms. After each of those elections, bitcoin made one last pullback before reaching its cycle low: between 15 and 50 percent, two to ten weeks after election day.

This time, much of the decline came before the vote. From the September high to election day, bitcoin lost around 11 percent according to Glassnode, and by November 4 it was up about 1.5 percent since the election. Thursday's slump has wiped out that lead. Three elections are a small sample, as Glassnode itself stresses. As a pattern they are enough to take the possibility of another pullback seriously; as a roadmap they are not. Bitcoin is also far more embedded in the traditional financial system today, through ETFs, asset managers and banks, than in earlier cycles.

Bitcoin price prediction to the end of November: two scenarios with fixed levels

From the cost bases and the liquidation levels, two paths can be drawn for the coming three weeks. In each case the daily close is what counts, not a brief intraday spike.

Stabilisation: a daily close above $77,700

If bitcoin holds the zone around $75,700 and manages a daily close above the True Market Mean at $77,700, the structure of the August breakout is intact again in Glassnode's reading. The share of short-term holders in profit would then rise quickly, because the price only has to sit just above their cost basis. The next level is the zone around $80,000, where bitcoin last traded on November 5 and where the max pain price of the November expiry lies. Above that, the short positions around $87,000 are waiting.

A longer pause: a daily close below $73,000

If bitcoin falls below $73,000 on a daily closing basis, the price has left behind the lower edge of the zone, the 200-day moving average and most of the liquidation levels for long positions. For that case, Glassnode speaks of a longer consolidation, a phase in which the price moves sideways to lower. The next large cluster of liquidations would then be at $60,000 to $63,000, the starting point of the August breakout. On August 1, bitcoin traded at $62,820 according to CoinGecko data; the year's low on July 1 was $58,566.

We are not giving a price target. Both scenarios depend on daily closes, which can be checked every evening.

Bitcoin support at $75,700: our editorial assessment

Our assessment: the zone between $73,000 and $76,000 has a good chance of holding. Three documented points support this. First, the cost basis of recent buyers, the 50-week average and the 200-day average meet there. Second, according to Glassnode, a large part of the leverage on the long side has already been unwound, so the risk of a cascade of forced selling is smaller than in September. Third, over the past two months bitcoin has performed much like the S&P 500, down about 2 percent, and clearly better than gold, which lost around 9 percent according to Glassnode data.

Against this view: fresh money from outside is missing, and sentiment at 25 points sits in extreme fear. If the zone breaks, a setback in the pattern of earlier midterms would not be an outlier but the historical norm. We do not derive a buy or sell recommendation from this. Cryptocurrencies are highly volatile and can lose value up to a total loss.

Crypto holding period and loss offsetting: how to check your bitcoin bought since June

Glassnode's short-term holder group overlaps in time with a tax question that directly affects investors in Germany. Anyone who has bought bitcoin since early June 2026 is still within the one-year holding period under Section 23 of the German Income Tax Act. A sale before that period ends is a private disposal. Gains are taxable once a year's private disposal gains together reach the exemption limit of €1,000. Losses from such transactions can be offset against gains of the same kind, including in later years.

That leads to three steps. For each purchase since June, note the date, the amount and the purchase price in euros; your exchange provides an export of your transactions for this. Then compare the purchase prices with Saturday's price of around €68,100: purchases from September and October are mostly in the red, while purchases from July and early August are often in profit. Finally, check whether you have already made taxable gains from other crypto sales in 2026. A realised loss can reduce them, but a sale purely for tax reasons is no substitute for an investment decision. Crypto tax software matches purchases and sales automatically, for example using the FIFO method, under which the coins bought first are treated as sold first.

There is still no decision on the planned abolition of the holding period: the federal cabinet did not adopt the draft on October 14, 2026. What applies today and which dates follow is set out in our overview of the crypto holding period reform.

Bitcoin at $75,700: below $73,000 the longer pause begins

1. Set yourself two price levels and create a price alert for each: a daily close above $77,700 as a sign of stabilisation and one below $73,000 as a warning signal. Exchanges with price alerts and savings plans are listed in our crypto exchange comparison.
2. Check your purchases since June against the $75,700 cost basis and against the holding period. Which software calculates your cost basis in euros is shown in our overview of crypto tax software.
3. Keep leverage low while the price sits in the middle of the $73,000 to $76,000 zone. What regulated providers allow retail clients is covered in our comparison of crypto brokers.

(As of November 7, 2026. This article is not investment advice. Prices and fee structures change; check the terms with the provider before you buy.)

A week that started with post-election optimism ended with more than a billion dollars in liquidations. Bitcoin briefly lost 75,000 dollars, Ethereum fell to its lowest level in ten weeks, and XRP dropped harder than anything else in the top ten. Here is what actually happened, coin by coin, and what the market is pricing in now.

Why did crypto crash this week?

Four things hit at once.

• A tech and AI rout on Wall Street. The Nasdaq had one of its worst sessions in a long time on Friday, and crypto, which trades like high-beta tech, followed it down. Risk appetite evaporated across the board.
• Regulatory uncertainty after the midterms. The initial rally after Democrats gained control of Congress reversed as traders started pricing in a tougher stance on the sector. Senator Elizabeth Warren's camp has long pushed for a crackdown, and the market remembered.
• ETF money leaving. Spot Bitcoin ETFs saw around 430 million dollars of outflows on Thursday alone, bringing the week's net withdrawals to roughly 870 million dollars through Thursday and tipping the year-to-date balance into negative territory. Solana ETFs also bled, if only modestly.
• The MEXC shock. The US Treasury cut a top-20 exchange off from the dollar system on Thursday evening, which added a fresh counterparty-risk headline to an already nervous tape.

The result: over one billion dollars in leveraged positions liquidated within 24 hours, the vast majority of them longs. Bitcoin alone accounted for roughly 267 million dollars, Ethereum for about 167 million.

What happened to Bitcoin price?

Bitcoin fell around 6 percent on Friday to the 75,500 dollar area and briefly traded below 75,000, its lowest intraday level since mid-September. It is on course for a fifth straight losing week and has given back the entire post-election bounce. Desks mark 75,000 as the near-term floor and 80,000 as the ceiling that capped the recent rally. Wintermute flagged 73,000 and 68,000 as the next technical levels if volatility continues, not as forecasts.

What happened to Ethereum price?

Ethereum dropped roughly 8 percent to the 2,230 dollar area, a ten-week low. ETH has now underperformed Bitcoin for most of the autumn, and the ratio keeps sliding. With leverage flushed, the first question is whether 2,200 holds as support; the second is whether ETF flows turn before the next macro data point.

What happened to XRP price?

XRP was the weakest major, down close to 9 percent to around 1.20 dollars and at one stage more than 10 percent on the day. Coins that rallied hardest on regulatory optimism tend to fall hardest when that optimism fades, and XRP's whole 2026 story has been about regulation. There was no XRP-specific news driving the move; it was simply the highest-beta large cap in the room.

What happened to Solana price?

Solana fell about 6.6 percent, dipped briefly below 90 dollars and then rebounded to around 90.40. Immediate support sits near 88.30; a loss of that level would reopen the early-November lows. Solana ETFs saw small outflows, which matters less than the fact that the Alpenglow upgrade narrative has not been enough to decouple SOL from Bitcoin.

What should crypto investors watch now?

The Crypto Fear and Greed Index has slipped to 28, firmly in fear territory, a level that has historically marked uncomfortable but often decent medium-term entry points. The next catalysts are the direction of ETF flows early next week, whether Bitcoin reclaims 80,000 or loses 73,000, and the MEXC fallout. Nothing in this week's drop was crypto-native; it was a liquidity event driven by equities and policy. That cuts both ways: if the Nasdaq stabilises, crypto usually bounces first.

Track market-wide metrics such as sentiment and liquidations on the CryptoTicker charts page, and live prices on the CryptoTicker crypto prices page. None of this is financial advice.

Experts say a disc-free PlayStation will price out low-income players, while in much of Africa, digital-only gaming means breaking Sony’s rules.

FinCEN’s order, part of Operation Economic Outcast, bars U.S. institutions from any transfers to or from MEXC, which Treasury says facilitated $16 billion in illicit finance tied to Iran, North Korea and Russia.

Greece has approved a crypto tax framework with a €500 ($557) annual gains threshold and new rules for staking and DeFi income, but lawmakers left important questions about token swaps unresolved.

Hyperliquid Strategies has applied to become a U.S. futures commission merchant, a move that could let Americans trade perpetual futures on permissioned Hyperliquid markets, pending regulatory approval.

Savers locked out of Ueno Bank burned their cards, booed a former presidential candidate out of the crowd, and watched Congress move to remove President Peña.

Ethereum whales have accumulated more than $42 million worth of ETH, even as U.S. spot Ethereum ETFs report $365 million in weekly outflows.

Fidelity's Jurien Timmer still favors Bitcoin over Gold despite market sell-off.

XRP legend David Schwartz has expressed displeasure to the XRP community over the unappealing conduct of consistent XRP spam flooding his X posts.

Coinbase's November delisting plans come with warning for Solana-based token.

Binance's CZ has declared recent claims about Elon Musk bashing Binance for its market dominance as false, using an AI search result as proof.

TLDR:

• XRP price trades near $1.17, roughly 24.5% below the cited October level of $1.55. Analysts are watching several potential support zones.
• David Schwartz will block accounts posting insults or irrelevant XRP content. He welcomes substantive criticism in appropriate discussions.
• Coinglass data shows a 12.36% decline in XRP open interest. XRP ETF cumulative net inflows remained $1.81 billion despite fewer inflow days.
• Analyst ChartNerd identified demand between $1.04 and $1.16, while Ali Martinez highlighted $0.99. Dark Defender emphasized support at $1.12.

David Schwartz has urged the XRP Army to stop posting insults and unrelated cryptocurrency comments beneath his social media replies. Ripple’s CTO emeritus said he would block accounts that disrupt conversations, including supporters promoting XRP in unrelated threads. 

He said criticism remains welcome when people offer substance, avoid slurs, and choose an appropriate discussion. The message arrived as the XRP price traded near $1.17, with sellers maintaining pressure after an October decline.

David Schwartz Sets Boundaries for XRP Army Discussions

Schwartz published the message on X on November 7 amid criticism of him and Ripple CEO Brad Garlinghouse. The public exchange raised questions about how community members can reach him. 

Schwartz said irrelevant replies had increased, especially when he joined conversations about subjects outside cryptocurrency. He explained that leaving those replies unchecked exposes other participants and their followers to unwanted crypto posts.

Blocking, he said, helps protect those conversations from repeated disruption. His policy covers hostile comments and enthusiastic promotion when either appears beneath an unrelated exchange. 

David Schwartz also addressed accusations involving fraud or scams. He said people could challenge him, provided their comments contained substance and avoided personal slurs. Relevance and placement remained central to his expectations.

The warning extended to accounts that follow his activity and repeatedly insert XRP references into separate discussions. Even praise for the token could breach his boundaries when it interrupted another topic. 

Responses from the XRP Army included a suggestion for a weekly thread welcoming introductions from new ecosystem participants. Schwartz reacted positively to the proposal, which would give community promotion a dedicated venue.

Another participant argued that unanswered messages encouraged people to keep seeking his attention. Schwartz nevertheless offered a path back for blocked users who agreed to stop disruptive replies. He said they could contact him about removing the block and stressed that he held no personal hatred. 

XRP Price Tests Support as Traders Cut Leveraged Positions

The XRP price stood near $1.17 in CoinGlass data, down 2.43% over 24 hours. Compared with the cited October level of $1.55, that represents a decline of approximately 24.5%.

CoinGlass listed roughly $10.71 million in total futures liquidations during the preceding day. Open interest stood around $2.76 billion, reflecting substantial outstanding derivatives exposure despite the selloff. 

XRP saw a 12.36% decline in open interest as the XRP price lost the $1.21 support level. Falling open interest indicates reduced outstanding exposure, although it does not independently establish the direction of remaining positions.

The report also described social sentiment at its weakest since July. XRP exchange-traded funds recorded inflows on six days during the previous month, while cumulative net inflows remained $1.81 billion. Sessions without inflows can include both withdrawals and flat readings, so that pattern does not establish continuous outflows.

Analyst ChartNerd identified demand between $1.04 and $1.16 after a breakdown beneath weekly support. He said XRP price reclaiming $1.34 could improve the technical outlook.

ChartNerd also noted that XRP price remained below its 20-week and 50-week moving averages. Those levels added resistance for buyers after the loss of the 10-week support floor.

Ali Martinez highlighted a channel boundary near $0.99 as potential support. His assessment also pointed to weak volume and declining market share, with Bitcoin dominance complicating a sustained recovery.

Dark Defender offered a different interpretation of XRP price weakness, maintaining that the longer-term structure remained intact. He identified $1.12 as support, describing a level that previously acted as resistance during July and August. He had marked $1.21 and $1.12 on October 25, before the latest decline reached the lower support area.

The post XRP Price Tests Support as David Schwartz Warns the XRP Army appeared first on Blockonomi.

TLDR:

• Wallet 0xC374 accumulated 1.32 million UNI worth $11.05 million over 45 days.
• Another whale sold $7.32 million in UNI but still holds approximately 19.3 million tokens.
• UNI trades near $7.03, with CoinGecko reporting a 1.42% daily price increase.
• A break below $6.85 could expose UNI to $6.50, with $5.80 a deeper downside scenario.

Uniswap whales are taking opposite positions as one large investor accumulates UNI while another reduces holdings. Wallet 0xC374 recently purchased another 308,517 UNI worth $2.13 million, according to blockchain analytics platform Lookonchain.

The latest transaction brings its total purchases to 1.32 million UNI worth $11.05 million over 45 days. Meanwhile, another whale has sold $7.32 million in UNI over two days. The competing transactions came as UNI’s price trades near $7.00.

Uniswap Whale Accumulation Meets Heavy Selling Pressure

Lookonchain reported that wallet 0xC374 purchased 308,517 UNI approximately 10 hours before its update. The transaction represents another addition to an accumulation strategy that has continued for 45 days.

The wallet has now accumulated 1.32 million UNI, valued at approximately $11.05 million. This sustained buying could reduce the amount of UNI available for immediate trading if the investor continues holding.

However, another large holder is moving in the opposite direction. The whale reportedly sold $7.32 million in UNI over two days after receiving 20.32 million tokens from Uniswap’s Timelock wallet more than a year ago.

Despite the recent sales, the address still holds approximately 19.3 million UNI. Its remaining position means further distributions could introduce additional selling pressure.

These transactions reveal different strategies among large UNI holders. One investor continues building exposure, while another gradually reduces an existing position.

The accumulation has attracted bullish interpretations from market observers. Hupzy described the sustained purchases as a potential supply-lock signal, although continued holding remains essential.

UNI Price Faces $6.85 Support as Whale Activity Divides Traders

UNI was trading around $7.03, according to CoinGecko’s latest price data. The token gained 1.42% over 24 hours and 1.19% over seven days.

Its 24-hour trading volume reached approximately $303.59 million. These figures show modest positive price performance despite contrasting whale transactions.

However, traders are also watching UNI’s short-term technical structure. Crypto With Gopal identified a potential head-and-shoulders formation on the one-hour chart.

The analyst highlighted 6.85–6.90 as the neckline support zone. A breakdown below this range could expose UNI to further declines toward $6.50.

The bearish structure introduces uncertainty despite the ongoing whale accumulation. If selling pressure increases, traders could interpret the breakdown as confirmation of weakening momentum.

Analysts also warn that continued weakness could push UNI toward $5.80. However, that remains a downside scenario rather than a confirmed price target.

The competing whale transactions therefore create two different signals for UNI holders. Sustained accumulation could tighten available supply, while continued distributions could limit recovery attempts.

For now, $6.85-$6.90 represents the immediate technical area to watch. Whether UNI holds that support may determine if buyers regain control or sellers extend the decline.

The post Uniswap Whales Split as $11M UNI Accumulation Meets $7.32M Sell-Off appeared first on Blockonomi.

TLDR:

• Algorand will indefinitely pause its xGov grants program starting December 6 under its restructuring.
• The foundation will close its forum and conclude the Ecosystem Advisory Council on November 6.
• ALGO staking rewards remain committed through January 2028 despite the broader strategic changes.
• Algorand drops proposed supply inflation, MEV capture and higher minimum fees from current plans.

Algorand is restructuring its community programs as the foundation shifts toward revenue generation and post-quantum security. The changes include indefinitely pausing its xGov grants program from December 6 and closing the Algorand Forum on November 6.

The foundation will also conclude its Ecosystem Advisory Council (EAC) and end sponsorship of the Algorand Technical Council (ATC). 

However, staking rewards will continue through January 2028, preserving an existing commitment to network participants. The restructuring also removes several proposed economic changes from consideration under Project King Safety.

Algorand xGov Grants Pause as Foundation Restructures Community Programs

The Algorand Foundation announced the changes in its latest community update, outlining a narrower approach to ecosystem development. The organization said its new leadership is prioritizing a sustainable, revenue-generating network model.

Under the restructuring, the xGov grants program will pause indefinitely, effective December 6. The initiative previously allowed community members to submit proposals, vote, and participate in discussions about ecosystem development.

The foundation also confirmed that the Algorand Forum will close on November 6. A read-only archive will remain available for members who need historical discussions and information.

Community members will instead use Algorand’s Discord for technical updates, support, and discussions with the foundation. This shifts communication toward a more centralized channel rather than the previous forum-based structure.

The Ecosystem Advisory Council will also conclude its operations as a company-run body on November 6. Established in January, the council connected community representatives with Algorand leadership.

Its responsibilities included collecting ecosystem feedback and advising leadership on the potential effects of proposed changes. The foundation said it still welcomes community input through Discord.

Separately, Algorand will end its sponsorship of the Algorand Technical Council. However, periodic Developer Council meetings will continue, allowing participants to discuss technical developments.

Algorand Staking Rewards Remain Through 2028 as Project King Safety Pauses

Despite the organizational changes, the foundation reaffirmed its commitment to staking rewards through January 2028. This provides continuity for node runners and stakers who help maintain network security.

The update also indefinitely pauses Project King Safety as a broader roadmap initiative. Three previously discussed proposals are no longer under consideration.

These include lifting ALGO’s maximum supply through inflation-based incentives, introducing mechanisms to capture maximum extractable value (MEV), and increasing minimum transaction fees.

MEV refers to additional value that block producers can extract by changing transaction ordering. Capturing MEV could introduce another revenue mechanism, but the foundation has removed it from current plans.

However, Algorand has not ruled out every potential fee adjustment. Usage-based transaction fees, including those associated with Falcon-1024 post-quantum accounts, may still change.

The foundation is also placing greater emphasis on post-quantum cryptography. Falcon signatures have operated on Algorand since 2022, followed by quantum-resistant transactions in 2025 and native post-quantum accounts in 2026.

Its next objective involves extending these security capabilities beyond its own blockchain. Custodians, wallet providers, asset issuers, and other networks could eventually integrate post-quantum protection.

The changes therefore represent more than administrative restructuring. Algorand is reducing several community-led initiatives while concentrating resources on security infrastructure and long-term network sustainability.

Algorand is changing its development priorities, not abandoning network incentives. Staking rewards remain committed through January 2028, while post-quantum security becomes a central part of its growth strategy.

The post Algorand Pauses xGov Grants, Ends Advisory Councils in Major Strategic Shift appeared first on Blockonomi.

TLDR:

• Bitcoin spot ETFs recorded $411.9 million in net outflows on November 6.
• BlackRock’s IBIT accounted for $403 million in withdrawals, while Fidelity’s FBTC gained $42.8 million.
• Ethereum ETFs lost $93.3 million, with BlackRock’s ETHA recording $90.8 million in outflows.
• Kalshi traders priced Bitcoin’s November low near $70,000 as analysts watched key support levels.

U.S. spot Bitcoin ETFs recorded $411.9 million in net outflows on November 6, extending pressure on institutional crypto investment products.

BlackRock’s iShares Bitcoin Trust (IBIT) accounted for $403 million of those withdrawals, according to Farside Investors. Fidelity’s FBTC provided a partial offset with $42.8 million in net inflows. 

Ethereum spot ETFs also faced selling pressure, recording $93.3 million in net outflows, led by $90.8 million leaving BlackRock’s ETHA. Meanwhile, Bitcoin traded near $75,920, while prediction markets priced its November low around $70,000.

Bitcoin ETF Outflows Accelerate as BlackRock’s IBIT Loses $403M

Farside Investors’ November 6 data showed that Bitcoin ETF outflows were heavily concentrated in BlackRock’s IBIT. The fund recorded $403 million in withdrawals, accounting for almost the entire daily net loss.

Other funds also reported negative flows. Bitwise’s BITB lost $20.5 million, while ARK 21Shares’ ARKB recorded $20.1 million in outflows. Grayscale’s GBTC shed another $11.1 million.

Fidelity’s FBTC was the day’s strongest performer, attracting $42.8 million in fresh investments. However, those inflows failed to offset withdrawals from competing products.

The concentration of selling in IBIT suggests that withdrawals from one major fund drove much of the day’s negative result. However, daily ETF flows alone cannot establish whether investors are abandoning Bitcoin or reallocating capital.

Spot Bitcoin ETFs hold actual Bitcoin to back their shares. When investors redeem shares, fund managers generally sell corresponding Bitcoin holdings to meet those requests.This process can create additional selling pressure in the underlying market. 

Ethereum ETF Outflows Reach $93M as Bitcoin Faces $70K Forecast

Ethereum spot ETFs recorded $93.3 million in net outflows on November 6. BlackRock’s ETHA dominated withdrawals with $90.8 million leaving the fund.

Fidelity’s FETH recorded another $1.7 million in outflows, while Grayscale’s ETHE lost $1.9 million. BlackRock’s staked ETHB attracted approximately $1.1 million, providing limited relief.

The simultaneous withdrawals from Bitcoin and Ethereum products indicate broader weakness in institutional ETF demand. Still, one trading session does not establish a sustained trend.

Meanwhile, Bitcoin’s price outlook remains under pressure. CoinGecko data placed BTC at $75,920.79, up 0.52% over 24 hours but down 1.50% across seven days.

Kalshi Crypto reported that prediction market traders were pricing Bitcoin’s November low near $70,000. That forecast implies approximately 8% downside from its November 6 trading level.

Market analyst More Crypto Online identified $74,804 to $63,326 as a potential correction-ending zone. However, the analyst warned that entering this range would not independently confirm a market bottom.

The analyst also identified $75,580 as a range floor and $81,238 as the recovery level. Until Bitcoin breaks above that resistance, the analysis leaves room for further downside.

The ETF withdrawals and cautious price expectations reflects weakening near-term confidence. Bitcoin’s ability to defend its current support levels could determine whether selling pressure continues.

The post Bitcoin and Ethereum ETFs Shed $505M as Kalshi Traders Predict BTC Drop to $70,000 in November appeared first on Blockonomi.

TLDR:

• Binance France will close customer accounts on December 31, 2026, following its MiCA authorization failure.
• Binance will introduce monthly management fees of 0.025%, with a minimum charge of 10 USDC.
• OKX Europe promotes EUR ramps, spot trading, derivatives, staking, and tokenized stocks.
• OKX’s Unified Trading Account combines spot, margin, and derivatives trading under one platform.

OKX is positioning its European platform as an alternative for crypto users facing changes to Binance France’s services. The move follows Binance France’s decision to close all customer accounts by December 31, 2026. 

Binance has already suspended deposits, while monthly management fees will begin on November 29. The exchange will charge 0.025% monthly, with a minimum fee of 10 USDC.

OKX founder Star presented the company’s European services as an option for users seeking regulated access and broader trading products.

The announcement comes as European crypto platforms adjust to the European Union’s Markets in Crypto-Assets Regulation (MiCA). 

OKX Europe is emphasizing its regulatory framework, liquidity, and range of financial products. Its offering includes euro payment services, spot trading, derivatives, tokenized stocks, and staking.

OKX Europe Promotes Its MiCA-Regulated Trading Services

In a recent statement, OKX founder Star highlighted the platform’s services for European customers. He said OKX Europe operates under applicable MiCA, MiFID, and Payment Institution (PI) regulatory frameworks.

The platform offers EUR on-ramps and off-ramps, allowing customers to move euros between bank accounts and crypto services. It also supports spot trading, crypto and equity X-Perps, tokenized stocks, and staking.

Beyond trading, OKX Europe provides OKX Pay and OKX Card for payment-related services. These products expand the platform beyond cryptocurrency buying and selling.

Another feature is OKX’s Unified Trading Account, which combines spot, margin, and derivatives trading. This structure allows eligible users to manage different trading positions within one account.

It also improves capital efficiency by allowing traders to use their available collateral across supported products. This could appeal to experienced traders seeking multiple markets through one regulated platform.

OKX Europe Ltd is authorized by the Malta Financial Services Authority (MFSA), according to Star. However, individual products remain subject to their applicable regulatory requirements.

Binance France Shutdown Creates Pressure on Existing Customers

According to Cryptoast, Binance France will close customer accounts on December 31, 2026, after failing to secure MiCA authorization. The exchange has already suspended deposits for affected customers.

Binance also informed customers about new account management fees through an email. Starting November 29, remaining balances will incur a monthly charge of 0.025%, with a minimum of 10 USDC.

Customers who leave assets untouched until December 31 could face additional complications. Cryptoast reported that Binance may convert, transfer, or otherwise handle remaining assets under its Terms of Service.

The shutdown concerns accounts held through the Binance France entity. It does not mean Binance is closing its entire global platform or every French user’s account.

This distinction matters because affected customers must assess their available alternatives before the deadline. OKX is presenting its European services as one option, particularly for users seeking euro access and multiple trading products.

However, regulatory authorization alone does not guarantee better trading conditions. Customers should compare fees, supported assets, product availability, and withdrawal requirements before moving funds.

For OKX, Binance France’s withdrawal creates an opportunity to attract European customers. Whether those users migrate will depend on the platform’s pricing, liquidity, regulatory coverage, and available services.

The post OKX Founder Targets Binance France Users Ahead of December Shutdown appeared first on Blockonomi.