- The Treasury says MEXC Global facilitated at least $16 billion in illicit flows.
- US payrolls rose 165,000 in October versus forecasts of 65,000; jobless at 4.1%.
- Strive reported Q3 net income of $509 million, then added 15,124 BTC in October.
The global crypto market cap slipped 0.2% to $2.647 trillion over the past 24 hours. Bitcoin traded at $75,958.09, down 0.1% on the day and down 1.7% over the past week. Ethereum changed hands at $2,245.95, up 0.3% in 24 hours and up 0.1% over seven days. BNB rose 0.3% to $693.84, down 1.6% weekly. XRP fell 4.2% to $1.16, down 7.1% over the week. Solana edged up 0.2% to $90.17, down 6.5% over seven days.
CoinGlass data showed $709 million in liquidations over 24 hours, with longs at $572 million and shorts at $137 million.
Trending Searches
COGE COIN led trending searches and also topped the gainers list, surging 555.4% to $0.01678. Bitcoin slipped 0.1% to $75,952.30, and Akedo jumped 161.2% to $0.005931. Among other top gainers, AI XOVIA climbed 80.4% to $0.2798.
MEXC and Binance Face Regulatory Pressure
FinCEN ordered that MEXC Global be cut off from the US financial system under the Combating Russian Money Laundering Act. The order takes effect 30 days after its publication in the Federal Register. The Treasury said MEXC Global facilitated at least $16 billion in transactions between May 2021 and May 2026. Those transactions were tied to sanctions evasion by Iran, North Korea and Russia, and to cybercrime.
MEXC said its operations are normal and that it has launched an independent review of its anti-money laundering and sanctions controls. Reserve said it will stop providing liquidity for LCAP and CMC20 on MEXC.
Related: MEXC Faces US Transfer Ban After $16B Illicit Activity Claim
Macro and Fed
US nonfarm payrolls rose by 165,000 in October, against expectations of 65,000, and unemployment fell to 4.1%. Traders added to bets on a December rate hike.
US stocks rebounded on Friday, with the Nasdaq up 1.79%. Riot Platforms rose 14.55% and MARA gained 8.31%. Bloomberg reported that Taiwan will restrict short selling from November 9 and is ready to deploy a NT$500 billion market stabilization fund.
Binance Hack Follow-Up
SEAL said North Korea’s TraderTraitor group spent about eight weeks inside Binance’s systems before the October 29 attack. Elliptic said about 1,650 BTC tied to the theft, worth roughly $124 million, had moved into new Bitcoin addresses as of November 6, mainly through XRP swaps on THORChain.
Binance said its latest zero-knowledge proof of reserves is live. It aims to reopen withdrawals for HYPE, INJ, APT, NEAR and LTC before next weekend. Separately, Chainalysis said some customer information for all of its users had been exposed, and it took its KYT and other screening products offline.
Related: CZ Fires Back at Elon Musk with Meme as Binance Feud Escalates
Policy Moves
A rule allowing crypto in 401(k) plans has been sent to the White House for final review. FinCEN and the Federal Reserve withdrew a 2020 proposal that would have cut the travel rule threshold for cross-border transfers from $3,000 to $250.
The Bank of Russia approved Bitcoin, Ether, USDT and other cryptocurrencies for retail trading. A People’s Bank of China official said the central bank will target domestic dealers and local affiliates of overseas platforms. The official also said promoting Solana violates rules issued in February.
Corporate and Flows
Strive reported Q3 net income of $509 million and added 15,124 BTC between October 1 and 30. Farside Investors data showed US spot Bitcoin ETFs with about $416 million in net outflows year to date as of November 5. CryptoRank said prediction market volume hit a record $123 billion in October.
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