Topic
Funding, exchanges, treasuries and the companies building on crypto, with the economics underneath the announcements.
The bitcoin miner sold about 40 percent of its holdings after the third quarter at an average of $81,039 a coin, used most of the cash to clear $750 million in bitcoin-backed loans, and told shareholders it will keep selling. Chairman Fred Thiel said it is not a pivot away from bitcoin.
Securitize said it will buy River One, a New York warehouse-financing firm, moving its tokenization business into private asset-backed lending. The deal landed with third-quarter results showing revenue up 13 percent and a net loss of $66.3 million.
Strategy spent $188.3 million buying back its STRC preferred shares last week and $81.9 million on bitcoin, a 9 November filing showed. Its bitcoin treasury now holds 850,364 coins, bought at an average price just above where the market trades.
Ava Labs says the Avalanche blockchain will handle clearing and settlement for a tokenized stock venue tied to the New York Stock Exchange. The platform is not live and still needs regulatory approval, and the NYSE frames Avalanche as one tool for one job.
Binance has replaced CFO Kaiser Ng nine days after a $6.34 billion hack, naming Airwallex's Justin Yek as finance chief. Co-CEO Yi He calls the change a long-planned move, though the timing raises questions the company has not fully answered.
The asset manager run by Matthew Cole added 15,124 bitcoin last month, more than half of what it now holds, and paid for much of it with preferred shares that cost 15% a year. Bitcoin has since fallen below $76,000, leaving the October buys underwater.
Binance has told customers in France, Spain, Italy and Poland that it will start charging a monthly fee on November 29 and close their accounts on December 31, after missing the EU's MiCA licensing deadline. Withdrawals stay open until then.
IREN's bitcoin mining revenue fell 58 percent to $28 million in the quarter to September 30, while its AI cloud business brought in $200 million. The company aims to wind down most of its mining by December 31.
Holders of Trump Media's $1 billion convertible notes can demand cash repayment on November 30, 2026. Days before the deadline, on-chain data showed about 4,259 bitcoin, worth around $343 million, moving to a Crypto.com address. The company has not said how it will pay, or why the coins moved.
The Trump-linked miner swung to a $126 million third-quarter profit, up from a loss, but almost all of it came from revaluing the bitcoin it holds. Mining revenue fell and the cost to produce each coin rose.
Riot Platforms earned $4 million in the third quarter, down from $104.5 million a year earlier, as it sold most of its mined bitcoin to help fund a new $28 billion AI data center lease at its Corsicana campus in Texas.
The USDC issuer reported $865 million in total revenue and reserve income for the third quarter, up 17%, then disclosed a roughly 5% cut to its workforce. Its main income stream, interest on USDC reserves, fell 8% as rates dropped.