Circle is looking to payments fees and future staking rewards to diversify revenue as its core stablecoin business faces pressure from lower yields and growing competition.

Bitcoin climbed toward $80,500 as risk assets rallied on Democrats’ midterm election gains and oil prices fell.

The consistent minting on Solana suggests rising institutional demand for stablecoin liquidity, potentially impacting DeFi market dynamics.

The post USDC Treasury mints another $250 million as Solana minting streak continues appeared first on Crypto Briefing.

Trump's affirmation of Hegseth stabilizes market expectations, reducing speculation of imminent cabinet changes and influencing defense policy continuity.

The post Trump affirms Hegseth’s role as Defense Secretary, dismisses replacement rumors appeared first on Crypto Briefing.

The 2026 U.S. midterm elections have reshaped the outlook for crypto regulation, with Democrats winning control of both chambers of Congress. The results could influence the future of digital-asset legislation, institutional adoption and oversight of the crypto industry as lawmakers prepare for a new legislative session in January 2027.

Bitcoin initially faced selling pressure following the election results but subsequently recovered, highlighting the market’s ability to absorb political uncertainty. On November 4, BTC climbed back toward $78,000 after briefly touching a six-week low, while Ether and other major cryptocurrencies also moved higher.

How the Election Results Could Change Crypto Regulation

The change in congressional control introduces uncertainty for an industry that has pushed for clearer rules governing digital assets. Under President Donald Trump, the U.S. has taken steps toward a more crypto-friendly environment, including lighter enforcement, a strategic Bitcoin reserve initiative and legislation establishing a federal framework for stablecoins.

Democratic control could make further deregulation more difficult. Lawmakers may place greater emphasis on consumer protection, illicit-finance safeguards and potential conflicts of interest involving public officials and crypto businesses.

The stalled Digital Asset Market Clarity Act, commonly known as the CLARITY Act, is one of the most important legislative issues to watch. The bill aims to clarify regulatory responsibilities and establish a more defined framework for digital-asset markets. However, negotiations could become more complicated as congressional leadership changes.

Nevertheless, bipartisan support for aspects of cryptocurrency regulation remains an important factor. Clear rules could benefit legitimate businesses, exchanges and investors, regardless of which party controls Congress.

What the Midterms Mean for Bitcoin and the Crypto Market

For Bitcoin, the immediate impact of the elections appears to be closely linked to investor sentiment and expectations surrounding future regulation. Although the results initially triggered a market reaction, BTC’s recovery toward $78,000 suggests that traders were willing to buy after the decline.

The rebound is encouraging, but the longer-term implications will depend on whether policymakers can provide regulatory certainty without creating additional barriers to market participation.

Bitcoin could benefit from a framework that gives institutional investors, financial companies and other market participants greater confidence to enter the sector. Conversely, prolonged legislative uncertainty could delay investment decisions and weigh on market sentiment.

The broader crypto market also faces other challenges, including security concerns following a major Binance-related hack, recent outflows from Bitcoin exchange-traded funds (ETFs) and pressure from higher borrowing costs. These factors mean that political developments alone are unlikely to determine Bitcoin’s next major move.

What Comes Next for the Crypto Industry?

The election results mark a new chapter for U.S. crypto policy, but they do not automatically determine the industry’s future. The next steps will depend on congressional negotiations, regulatory decisions and whether lawmakers can find common ground on market structure, stablecoins and investor protections.

For Bitcoin, the key question is whether the market can move beyond the initial political uncertainty and regain sustained momentum. A more predictable regulatory environment could support long-term adoption, while continued uncertainty may contribute to short-term volatility.

Ultimately, the midterms create both challenges and opportunities for crypto. The industry’s ability to engage with lawmakers across party lines could prove decisive in shaping the next phase of digital-asset growth in the United States.

Bitcoin defies selling pressure after it recovered toward $78,000 on November 4 after briefly falling below $76,000, showing renewed buying interest as cryptocurrency markets adjusted to the outcome of the U.S. midterm elections. The rebound followed a seven-week low of $75,618, suggesting that buyers remain active around important technical support levels.

Although political uncertainty initially pressured BTC, the subsequent recovery offers a more constructive signal for the market. Bitcoin’s ability to regain lost ground highlights the potential for renewed momentum if buyers continue to defend support and overcome nearby resistance.

Bitcoin Price Recovers as Election Uncertainty Eases

Bitcoin fell to $75,618 as Democrats secured control of both chambers of Congress, raising questions about the future direction of U.S. cryptocurrency regulation. However, BTC quickly reversed course, climbing as high as $78,039 within approximately three hours.

The recovery suggests that some of the initial selling pressure may have reflected short-term uncertainty rather than a fundamental shift in Bitcoin’s long-term outlook. With the election results now clearer, traders can begin assessing their implications for financial markets and digital assets.

Broader market movements also played a role. U.S. stock futures initially declined before recovering some losses, while Bitcoin defies selling pressure and followed a similar pattern. This suggests that improving sentiment across risk-sensitive markets could help support further cryptocurrency gains if the trend continues.

Data shows that approximately $288 million in cryptocurrency long positions were liquidated over the preceding 24 hours, highlighting the intensity of the sell-off. Such liquidations can amplify price declines, but the subsequent rebound suggests that the market found buyers following the forced selling.

Bitcoin Bulls Focus on $75,700 Support and $78,000 Resistance

From a technical perspective, Bitcoin’s immediate challenge is to maintain its recovery and turn resistance into support.

The recent low of $75,618 coincided with Bitcoin’s 50-week simple moving average, which has acted as an important support level since mid-September. Holding above this area could strengthen the case for a recovery and provide a foundation for another attempt to break above $78,000.

A sustained move above that resistance could improve short-term momentum and encourage additional buying. However, traders will likely look for confirmation through trading volume and follow-through rather than relying on a single upward move.

Conversely, a renewed decline below the 50-week moving average could weaken the recovery and expose BTC to further downside pressure. For now, defending this level remains important for maintaining the bullish case.

Can Bitcoin Extend Its Recovery?

Bitcoin’s rebound provides a reason for cautious optimism, particularly as the market moves beyond the immediate uncertainty surrounding the U.S. midterm elections.

Future price action will depend on broader risk appetite, regulatory developments and whether buyers can sustain momentum above nearby resistance. While a deeper correction cannot be ruled out, Bitcoin’s rapid recovery from below $76,000 demonstrates that demand remains present at lower prices.

If BTC consolidates above key support and successfully reclaims $78,000, the market could see a stronger recovery attempt in the sessions ahead.

Bitcoin surged more than 5% from its election-night low to reclaim $80,000 for the first time since Binance's record hack. The cryptocurrency extended its recovery from approximately $75,600 on Wednesday, shaking off concerns that Democrats' takeover of Congress would undermine President Donald Trump's crypto-friendly agenda. According to CoinGlass data, this rally liquidated $453.32 million in…

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Kalshi's scheduled closures and Coinbase's September 2026 proposal show why no expiry does not guarantee an available closing trade.

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Riot Platforms sold about 79% of its Bitcoin in three months to pay for AI data centers in Texas. Its stash fell from 11,380 coins in June to 2,418 by September 30.

On Wednesday, Riot signed a $28 billion AI lease in Texas. That came one day after Texans elected a governor who has pledged to halt data center permits.

How Riot Emptied Its Bitcoin Stash in One Quarter

Riot sold 20,264 coins for about $1.5 billion between January and September, its third-quarter results show. Most went to data center construction.

Based on its holdings and the 1,637 coins it mined, Riot sold roughly 10,600 in the third quarter alone.

BeInCrypto asked in September whether Riot would sell 5,821 coins freed by repaying a Coinbase loan. Riot now holds fewer than half that number.

The new lease rents Riot’s whole Corsicana, Texas, campus to an unnamed AI lab. With earlier deals, Riot now has about $38 billion in contracted rent.

Will Hinojosa Kill Texas Data Centers?

Democrat Gina Hinojosa won the Texas governor’s race on Tuesday. She takes office in January.

She has promised to “issue a moratorium on all data center permits until the Legislature can codify regulations,” Texas Monthly reported.

Jefferies estimated that a moratorium could put 13.3 gigawatts of announced Texas data center projects at risk.

Texas has already paused some approvals. In September, outgoing Governor Greg Abbott halted state environmental permits for data centers until a grid audit. Law firm Bracewell expects that audit in mid-December.

Hinojosa’s Plan May Not Block Every Project

Her proposals for lawmakers focus on terms, not bans. They include ending subsidies and requiring proof that household power and water bills won’t rise, her campaign said.

Under the Corsicana lease, the tenant pays the site’s power costs, Riot said. In March, OpenAI and six other tech firms pledged at the White House to “build, bring or buy” their own power.

A governor can direct state agencies, but changing tax breaks needs the Legislature. Riot’s results do not mention the election.

What Riot Shareholders Are Waiting On

RIOT shares rose 13.9% to $15.97 before Wednesday’s open, Yahoo Finance data show.

The grid audit lands in December and Hinojosa takes office in January. Corsicana’s first 400 megawatts are due in September 2027.

Riot is one of several US miners moving power to AI.

The post How Will The New Texas Governor Impact the State’s Bitcoin Mining? appeared first on BeInCrypto.

Bitunix exchange has introduced Replay Trading on PC Ultra Futures, allowing traders to practice trading using historical market data without placing live orders or affecting their real accounts.

The new feature allows users to select a starting point on a historical chart and follow price movements as they unfold. Traders can pause the replay, move through individual candles, and change playback speed while testing their trading decisions.

Unlike regular live trading, Replay Trading uses simulated funds. Users can place practice orders, manage positions, and review their results without risking their actual balance.

Explore Past Price Movements

Replay Trading allows users to choose a starting point on a historical chart and watch how the market develops from that moment.

Traders can control playback by starting, pausing, or moving through candles one at a time. Playback speed can also be adjusted, allowing users to examine specific market movements more closely or move through longer periods faster.

This allows traders to study previous market conditions and practice responding to price changes without waiting for similar situations to occur in live markets.

The feature also includes a simulated trading environment where users can set their practice balance and leverage. Traders can place market and limit orders, monitor open positions, and manage pending orders as the replay progresses.

This allows them to test different approaches and see how their decisions would have affected their trading results under historical market conditions. Moreover, all orders use simulated funds and remain separate from users’ live trading accounts.

Traders can Check How Each Session Performed

Once a replay session is completed, users can review their trading activity, including executed orders and profit and loss (PnL). Completed sessions are saved in the My Replay section, where traders can check performance metrics and revisit their trading logs. Previous sessions are available in read-only mode, allowing users to review their decisions and results without changing the original records. Replay Trading is currently available only on PC Ultra Futures.

The introduction of PC Ultra-Replay reflects Bitunix’s continued focus on developing tools that address practical trading needs. The exchange continues to expand its platform with features designed to give traders more flexibility when analyzing markets and managing their trading activities.

PC Ultra-Replay adds a new dimension to the platform’s charting experience by bringing historical market analysis into a more interactive format. To use the feature, users can open a futures chart on Bitunix PC Ultra and select Replay in the chart header. Then they have to choose a historical starting point and begin their replay session.

For more information, visit the official Bitunix website.

About Bitunix

Bitunix is a global cryptocurrency derivatives exchange trusted by over 5 million users across more than 150 countries. Guided by its core principle of better liquidity, better trading, the platform is built for traders who expect more, committed to providing Ultra Trust, Ultra Products, and Ultra Experience. Bitunix offers a fast registration process and a user-friendly verification system to ensure safety and compliance.

With global standards of protection through Proof of Reserves (POR) and the Bitunix Care Fund, the exchange prioritizes user trust and fund security. Industry-first innovations like Fixed Risk, TradingView-powered chart suite, along with indicator alerts, cloud-synced templates, provide both beginners and advanced traders with a seamless experience. Making Bitunix one of the most dynamic platforms on the market.

The post Bitunix Introduces PC Ultra-Replay, Allowing Traders to Practice With Past Market Movements appeared first on BeInCrypto.

Hong Kong’s Legislative Council has passed legislation adopting the OECD’s Crypto-Asset Reporting Framework (CARF), setting out new information-collection duties for crypto service providers from January 2027. The government confirmed the bill’s passage on November 4. Under the framework, businesses that fall within its scope will have to identify customers, establish their tax residency and report specified crypto transactions to the Inland Revenue Department (IRD). Hong Kong plans to begin exchanging the information with participating jurisdictions in 2028. The same legislation also updates the Common Reporting Standard (CRS), which covers financial account information and will include additional digital financial products. The changes concern tax reporting and information exchange; they do not introduce a blanket tax on crypto holdings or prohibit people from trading digital assets.

Hong Kong’s CARF Rules Set Reporting Duties For Crypto Service Providers

The legislation brings Hong Kong into line with the OECD’s CARF, a framework published in 2023 to give tax authorities a standard way to exchange information about crypto-asset transactions across borders. The rules apply to reporting crypto-asset service providers with a relevant connection to Hong Kong. That can include businesses incorporated or organised in the city, entities managed there, tax-resident providers and businesses with a regular place of business or branch in Hong Kong. The scope depends on the services a business provides, rather than whether it calls itself an exchange. The IRD lists crypto exchanges, brokers, dealers and certain crypto-asset ATM operators among the examples. A provider can be covered when it carries out or facilitates exchanges between crypto-assets, or between crypto-assets and traditional currencies, for customers.

Hong Kong Passes Crypto Tax Reporting Law, With Data Collection Starting in 2027

Hong Kong’s Legislative Council passed the Inland Revenue (Amendment) (Crypto-Asset Reporting Framework and Amended Common Reporting Standard) Bill 2026 on November 4, implementing the OECD’s Crypto-Asset Reporting Framework (CARF). Under the new law, relevant crypto-asset service providers will be required to collect transaction information starting in 2027, with Hong Kong beginning automatic exchanges of crypto-related tax information with partner jurisdictions in 2028.

The amended Common Reporting Standard (CRS) will take effect in 2028, with automatic exchanges of financial account information under the updated standard beginning in 2029. Hong Kong’s Financial Services and the Treasury Secretary Christopher Hui said the legislation aims to strengthen international tax transparency and combat cross-border tax evasion.

— Wu Blockchain (@WuBlockchain) November 4, 2026

From January 1, 2027, covered providers will have to carry out due diligence on customers and collect information needed to establish their tax residency. For individuals, this includes their name, address, tax-residence jurisdiction and taxpayer identification number. For companies and other entities, providers may also need information about the people who control them.

The IRD says new customers will be asked to provide tax-residency self-certifications, while existing customers will have to complete the process within 12 months after the rules take effect. Businesses will also need to register with the department, file annual returns and keep records supporting their checks and reports. The department plans to issue guidance and provide technical support as companies prepare for the requirements.

Hong Kong Plans First Crypto Tax Information Exchanges In 2028

Hong Kong’s new reporting rules will also make it easier for tax authorities in other countries to check crypto activity involving their residents. Once the information-sharing system begins in 2028, participating jurisdictions will be able to receive details about reportable crypto transactions involving their tax residents. Whether those transactions are taxable will still depend on the laws of each country.

The bill also changes Hong Kong’s existing Common Reporting Standard (CRS), which has been used to exchange financial account information with other jurisdictions since 2018. The revised rules will take effect in January 2028 and cover additional products, including central bank digital currencies, certain electronic money products and derivatives linked to crypto-assets. Financial institutions will also have to collect some additional details about account holders and the people who control those accounts. The first information exchanges under the updated CRS are expected in 2029. 

The two frameworks therefore have separate timelines: crypto service providers begin CARF due diligence and collection in 2027, with cross-border exchanges planned for 2028. The amended CRS takes effect in 2028, with exchanges following in 2029. The IRD says it will publish further guidance for affected businesses. For crypto users, the immediate change is that covered platforms will ask for tax-residency information and maintain records for reporting purposes. The legislation does not mean every wallet or every transaction is directly reported to overseas authorities.

XRP, the native cryptocurrency of the XRP Ledger, is up 2.15% since yesterday, trading at $1.27. The uptick aligns with broader crypto market stability after the Binance exploit and Bitcoin holding above $77,000. However, XRP’s bullish momentum could be attributed to growing large-wallet accumulation, as accounts with 1M tokens reached 2,147, its highest level in 2026.

1M+ XRP Addresses Reach 2026 Peak

Last week, the cryptocurrency market witnessed a panic sell-off when the largest cryptocurrency exchange, Binance, faced a massive security breach, where attackers stole $6.3B worth of digital assets. The incident pushed Bitcoin to $76,000 and top altcoins like Ethereum to $2,170 and XRP to $1.2.

However, the Ripple cryptocurrency managed to rebound over 6% from the $1.2 floor to its current trade at $1.27. The uptrend gained momentum from increasing whale conviction, as XRP wallets with at least 1M tokens have surged to 2,147, its highest number in 2026 according to Santiment data.

Interestingly, the cohort witnessed 28 new wallet entries in the last ten days, of which 18 entered the +1M+ ’XRP Holders Club’ in the past three days. The increasing interest of high-network investors when this altcoin extended its correction trend and experienced notable impact from the Binance exploit indicates that they are building their position in the market rather than fleeing.

Historically, active accumulation among these key stakeholders is considered encouraging and bullish for an asset, as large holders tend to have longer time horizons than short-term traders.

Santiment analyst highlights a constructive bullish setup for XRP if price holds above the $1.20 to $1.25 floor and the 1M+ wallet count stays above the 2,140 mark. The buying momentum will accelerate if the coin price recovers to $1.3 and $1.4 and large-wallet holders continue to rise in number.

On the contrary note, XRP’s open interest (OI), the total outstanding volume of futures and options contracts, has dropped from $3.78B in late September to $2.88B by press time. This 28% contraction indicates that derivative market participants were forced to liquidate or reduce their leverage bets to protect against a falling XRP price. A prolonged decline or sideways trend in OI will pull out speculative support for XRP price.

However, this classic example of retail fear and whale conviction has often bolstered the underlying recovery momentum in an asset.

XRP Price Eyes Key Breakout From Current Correction Trend

Amid the October 2026 correction, the XRP price consolidated within two covering trendlines, indicating the formation of a falling wedge pattern. While the setup drives a steady correction with dynamic resistance and support, the covering nature of those trendlines indicates weakening bearish momentum.

As shown in the chart, XRP is testing the upper boundary of its wedge pattern, signaling a potential bullish breakout. If the buyers flip this resistance into potential support, the bullish momentum will accelerate and drive the altcoin another 6% higher to challenge the 200-day exponential moving average. 

In line with Santiment’s outlook, breaking back above the key EMA hovering near $1.36 could spark renewed bullish momentum for XRP.

On the contrary note, market participants must be cautious of the $1.2 support, as a breakdown below this floor could invalidate the bullish thesis and bolster an extended correction in XRP.

PANAMA CITY, November 4, 2026 — Bitbase today launched ORIGIN, the first season of its Bitbase Points program, which is designed to reward sustained participation over time. Over the 26-week season, which ends on May 4, 2027, Bitbase will distribute 1,000,000 points each week, allocated daily according to each participant’s contribution.

Four sources of contribution

Each participant’s contribution is drawn from four sources: trading, assets held on Bitbase, consistent activity and referrals. Consistent activity is counted as a separate source, so continued participation from day to day adds to a user’s contribution. All eligible users, whether new to Bitbase or already active on the platform, are enrolled automatically.

For each new user referred directly, the referrer receives an additional 25% of that user’s contribution. The new user’s own points are not affected.

Participants will also receive a Trading Identity card, a shareable summary of their trading style. The first cards will be issued on November 9, with new cards following each Monday for the remainder of the season.

Existing users begin with points already credited

Before the season began, Bitbase credited points to eligible existing users based on their earlier activity on the platform. As a result, these users enter ORIGIN with their prior activity already reflected in their points and ranking.

The first program under Bitbase 2.0

On November 2, the exchange introduced Bitbase 2.0, updating its brand, app and website under the statement “Market Flows. We Focus.” ORIGIN is the first program to put that statement into practice. While markets move continuously, Bitbase has chosen to assess participation across months rather than individual moments.

“We designed ORIGIN for users who participate consistently, not only during the busiest periods in the market,” said Nicholas Lo, Chief Business Officer at Bitbase. “Over a six-month season, that consistency carries weight. Our responsibility is to make sure every contribution is credited, from the first day of the season to the last.”

Points and rankings are available in the Bitbase app and at bitbase.com/points.

About Bitbase

Bitbase is a digital asset exchange serving individual and institutional users worldwide, with products spanning Spot, Futures, TradFi and Earn. Bitbase aims to give users a stable and straightforward trading experience, in line with its brand statement, “Market Flows. We Focus.” Learn more at bitbase.com.

Media contact

Harry Yang

Content Lead, Bitbase

marketing@bitbase.com

Panama City, November 4, 2026 — Bitbase today launched ORIGIN, the first season of its new Bitbase Points program. Ahead of the launch, the digital asset exchange credited points to eligible users who had been trading on the platform, so their past activity counts from day one. The season runs for 26 weeks, until May 4, 2027, with 1,000,000 points distributed each week.

Part of Bitbase 2.0

ORIGIN is also the first part of Bitbase 2.0 to reach users directly. Bitbase unveiled 2.0 on November 2, with an upgraded app and website and a new brand identity built around the statement “Market Flows. We Focus.” The idea is that markets will always move, and Bitbase chooses to focus on what lasts for its users. ORIGIN applies the same thinking to participation. Rather than rewarding a single burst of activity, it looks at what users do day after day over six months and credits the contribution they make across that period.

How participation is counted

Bitbase built ORIGIN around what users already do on the exchange. Eligible users, new or existing, are enrolled automatically, with no separate registration. Points are allocated daily based on each participant’s contribution, which draws on four sources: trading, assets held on Bitbase, consistent activity and referrals. Because consistency is one of those sources, steady participation adds up over the course of the season.

ORIGIN also rewards users who bring others to Bitbase. A referrer receives an additional 25% of the contribution of each new user they refer directly, while the new user’s own contribution is unaffected.

Starting November 9, participants will also receive a shareable Trading Identity card that reflects their trading habits, with a new card issued every Monday until the season ends.

Recognition that continues through the season

“Bitbase 2.0 is about focus, and for our users, that means knowing their steady participation is recognized and credited,” said Nicholas Lo, Chief Business Officer at Bitbase. “That’s why ORIGIN started by crediting what users had already done with us. It doesn’t ask anyone to trade differently. It simply records the participation that’s already there, every day, for the next six months.”

Users can track their points and rankings in the Bitbase app and on the website. Full details are available at bitbase.com/points.

Bitbase is a digital asset exchange serving individual and institutional users worldwide, with products spanning Spot, Futures, TradFi and Earn. Bitbase aims to give users a stable and straightforward trading experience, in line with its brand statement, “Market Flows. We Focus.” Learn more at bitbase.com.

Media contact

Harry Yang

Content Lead, Bitbase

marketing@bitbase.com