Flash News

Cointime reports: Bitcoin yields on layer-2 networks are drying up. The crypto asset manager’s assessment points to shrinking returns for BTC holders who park capital on L2 chains, though the material did not specify the magnitude of the decline or the drivers behind it. The observation comes as L2s compete for bitcoin liquidity.

Cointime update: A Second Circuit panel on Tuesday rejected requests by Kalshi and Coinbase for interim relief that would have paused New York and Connecticut enforcement actions against the prediction-market companies. The two-page order leaves unresolved their argument that federal law preempts the state cases.

Cointime update: A French amendment would require taxpayers to report self-custodied crypto holdings worth at least $112,000, or roughly €100,000. The measure has secured backing but must still survive the country’s budget process before taking effect. The proposal targets digital assets held outside regulated platforms.

Cointime update: The CFTC approved stock perpetual futures on the same day it was sued over the decision. The same report said pro-crypto spending largely failed to produce results as Democrats swept the Senate and House in the Midterms. No further details on the suit or the approval were provided.

Cointime update: Circle reported $865 million in third-quarter revenue and reserve income and disclosed cuts affecting approximately 5% of its workforce. The company did not specify the number of employees affected by the reduction in the disclosure.

Cointime reports: Bitcoin held steady after the U.S. midterm elections, with experts saying a Democratic sweep was largely priced in by the market. The outcome still makes the road ahead harder for crypto policy, they said.

Cointime update: Circle reported third-quarter revenue and reserve income of $865 million on November 4, up 17% year over year and a quarterly record, including $182 million from an ARC token presale. Reserve income fell 8% to $658 million as the reserve return rate dropped 61 basis points to 3.5%. USDC average circulation was $73.3 billion, down 4.2% from Q2, while on-chain volume reached $13.9 trillion, up 49%.

Cointime update: USDC issuer Circle disclosed a 5% workforce reduction in its earnings release, booking $9.1 million in restructuring costs during a profitable quarter. The cuts came as the stablecoin issuer’s reserve income fell 8%.

Cointime update: Canton’s CC token rose 4% after SEC staff issued a no-action letter treating CC earned by running infrastructure and applications as a digital commodity. The letter provides relief for that activity but is not a binding ruling on CC’s legal status. The move marks a partial regulatory signal for the Canton network’s token.

Cointime update: BitGo has launched Global Markets, an institutional trading and financial solutions business headed by former NYDIG executive Pete Janney. The new unit expands the crypto custodian’s offerings for institutional clients into trading and related financial services. BitGo did not disclose further details on the business’s scope or launch timeline.

Cointime reports: A Polymarket trader topped the prediction market’s leaderboard with $917,000 in winnings after Democrats swept the US midterms. The payout remains contingent on Alaska, which could still flip and alter the final outcome. The trader’s position capitalized on the Democratic wave across the midterm elections.

Cointime reports: Zach Pandl of Grayscale said the record $6.3 billion Binance hack may prove a “temporary setback” for crypto, pointing to institutional custody safeguards as markets recovered some losses. The hack is the largest on record by dollar value. Pandl’s comment came as crypto markets pared part of the losses triggered by the breach.

Cointime reports: A DeFi 201 explainer outlines how decentralized finance operates as a connected protocol system, tracing the links between DEXs and AMMs, liquidity pools, lending markets, yield aggregators, oracles, derivatives and DAO governance. It highlights where composability between these components creates systemic risk.

Cointime update: Tron founder Justin Sun has filed a sanctions motion in the U.S. District Court for the Northern District of California against WLFI, the Trump family crypto project, accusing it of delaying litigation by disclosing foreign entities only months into the case. Sun, who invested $45 million, says WLFI froze about 595 million unlocked tokens worth roughly $107 million. A hearing is set for Dec. 10.

Cointime update: A Nova Scotia judge has ordered the return of a Bitcoin wallet to the family of William Sandeson, who was convicted in the 2015 murder of fellow student Taylor Samson. The judge found prosecutors failed to establish a link between the cryptocurrency and the killing, clearing the way for the assets to be released to Sandeson’s relatives.

Cointime update: Justin Sun is seeking $264,000 in sanctions against World Liberty Financial over its UAE disclosure, with a hearing set for Dec. 10. Sun plans to refile his token-freeze lawsuit in California state court once the sanctions motion is resolved.

Cointime reports: Bitcoin ETFs recorded $1.16 billion in outflows, which Bitwise’s André Dragosch attributed to weaker market sentiment. Dragosch said institutions have largely maintained their exposure, framing the selling as short-term rather than a structural exit.

Cointime reports: Attackers behind the Binance exploit have moved 81% of the stolen Solana (SOL) and are routing the funds through THORChain after the cross-chain protocol resumed swaps. The laundering activity follows the restart of THORChain swaps, which the attackers are using to obscure the trail of the stolen assets.