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Tag: Cryptocurrencies

Bitcoin Drops to $75,700 as AI Stock Rout Triggers Over $1 Billion in Crypto Liquidations

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Bitcoin fell 6% to $75,700, touching an intraday low of $75,568, erasing Wednesday’s post-midterm rally above $80,000. Crypto derivatives liquidations topped $1 billion over 24 hours, with the majority from long positions, affecting roughly 211,000 traders. The Nasdaq Composite dropped about 5.5% and the Philadelphia Semiconductor Index plunged 12%, driven by fears of slower AI data-center buildout under a Democratic Congress. Bitcoin erased...

AI, Bitcoin, Cryptocurrencies, News

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Bitcoin Rebounds Above $80,000 as Democrats Sweep Midterms, Clouding CLARITY Act Outlook

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Bitcoin rebounded above $80,000 after briefly falling to a seven-week low near $75,600 as Democrats swept the U.S. midterm elections. Democrats secured control of both the House and Senate, with Sen. Elizabeth Warren expected to chair the Senate Banking Committee, further jeopardizing the CLARITY Act that failed a 49-50 procedural vote in September. Crypto industry PACs spent roughly $176-200 million this cycle, including more than $60...

Bitcoin, Crypto regulation, Cryptocurrencies, News

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Block Shares Rise on Raised Profit Outlook as Firm Details $764M DOJ AML Settlement

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Block reported Q3 net income of $566 million, up from $462 million a year earlier, and raised its full-year 2026 gross profit outlook to $12.63 billion. Shares of XYZ rose about 6% in after-hours trading following the results and guidance raise. The company disclosed an agreement in principle for a $764 million net settlement with the DOJ over anti-money-laundering program deficiencies. Bitcoin ecosystem gross profit fell 50% year-over-year...

Bitcoin, Crypto regulation, Cryptocurrencies, News

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Binance Completes Zero-Knowledge Proof of Reserves After Covering 95% of Record $6.3 Billion Hack Losses

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Binance has replenished approximately 95% of the roughly $6.3 billion stolen in the Oct. 29 hot-wallet hack using company funds. Users holding BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC can now independently verify 1:1 reserve backing via a completed zero-knowledge proof. The FBI attributed the attack to North Korea’s TraderTraitor group, the same actors linked to the 2025 Bybit heist. The exchange is expanding withdrawal access...

Cryptocurrencies, Hacks, News

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Crypto Markets Lick Wounds After Record Binance Hack as BTC Holds Near $78K

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Bitcoin is trading near $78,000 as the cryptocurrency market absorbs the aftermath of the largest reported crypto exchange hack. A CoinMarketCap-based snapshot published by Pintu put total crypto market capitalization at $2.63 trillion at 04:56 UTC on November 2. Bitcoin recovered from an intraday low near $76,190 on October 30 but remains below its pre-hack levels. Source: Pintu / CoinMarketCap snapshot. Main Analysis: The Binance Hack...

Bitcoin, Crypto market, Cryptocurrencies

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