Crypto Morning News: Non-farm payrolls surge, Bitcoin and US stocks both plunge
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Crypto Morning News: Non-farm payrolls surge, Bitcoin and US stocks both plunge
Vitalik Buterin warns that institutions like BlackRock pose two major threats to Ethereum.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
U.S. Releases Key Macroeconomic Data
According to Jinshi Data, the U.S. initial jobless claims for the week ending November 15 came in at 220,000, below the expected 230,000. The U.S. unemployment rate for September was 4.4%, higher than the forecasted and prior value of 4.30%. The seasonally adjusted nonfarm payroll employment increase for September was 119,000, surpassing the 50,000 estimate; the previous figure was revised from 22,000 to -4,000.
Trump-nominated CFTC Chair Candidate Selig Cleared by Senate Committee
According to The Block, the U.S. Senate Agriculture Committee approved, by a party-line vote of 12-11 on Thursday, President Trump’s nominee for Commodity Futures Trading Commission (CFTC) chair, Michael Selig. The nomination will now proceed to a full Senate vote. This appointment is closely watched as Congress considers expanding CFTC’s regulatory authority over cryptocurrencies.
During his confirmation hearing on Wednesday, Selig was questioned by lawmakers about whether the CFTC needs more funding to handle digital asset regulation. Compared to the Securities and Exchange Commission (SEC), which has 4,200 full-time staff, the CFTC currently has only 543. Selig said that if confirmed, he would assess whether the agency requires additional funding.
Selig emphasized the need for clear rules for the crypto industry—protecting investors while enabling software developers and new exchanges to thrive. He stated, "This is a real opportunity to create a framework where software developers can flourish, new exchanges can emerge, investors are protected, and proper exchange controls are in place."
U.S. Congressman Introduces 'Bitcoin for America' Bill to Codify Strategic Bitcoin Reserve
According to Bitcoin Magazine, U.S. Representative Warren Davidson introduced the “Bitcoin for America” bill. The legislation includes two main components: codifying the executive order on a strategic Bitcoin reserve into law, and eliminating capital gains tax when paying taxes with BTC.
Solana Posts: "Something Big Is Coming"
Solana posted on social media saying, "Something big is coming."
GMGN Announces Support for Token Trading in Monad Ecosystem
GMGN released a video on social media announcing support for token trading within the Monad ecosystem.
Nillion: Market Maker Unauthorizedly Dumped NIL Tokens; Buyback Initiated and Legal Action Underway
According to an official disclosure by Nillion, the project experienced an incident yesterday where a market maker sold NIL tokens without legal authorization from the Nillion Association. The market maker ignored all communication attempts from the team during and hours after the flash dump.
The Nillion Association has started using treasury funds to buy back dumped tokens and pledged to use all recovered proceeds from unauthorized sales to purchase more NIL tokens. The association stated it is pursuing full legal action and has worked overnight with exchange partners to ensure all accounts and wallets related to this event have been frozen.
BOB Announces Airdrop Claim Now Open
According to an official announcement, BOB (Build on Bitcoin) has opened its airdrop claim process, allowing eligible users to claim their tokens.
Prior news: Binance Alpha announced the listing of BOB, with an airdrop eligibility threshold of 240 Alpha points.
Vitalik Buterin Warns BlackRock and Other Institutions Pose Two Existential Threats to Ethereum
According to Dlnews, Ethereum founder Vitalik Buterin warned at the Devconnect conference in Buenos Aires that continued accumulation of Ether by large asset managers like BlackRock poses two existential threats to the network. First, institutional influence could drive out core community members and developers who care about decentralization. Second, institutional pressure might lead to flawed technical decisions—such as a 150-millisecond block time—which would make it difficult for ordinary users to run nodes. Currently, nine Wall Street firms offering Ethereum ETFs hold over $18 billion worth of Ether, with corporate treasuries holding another $18 billion. Buterin stressed that Ethereum should remain focused on being a "global, permissionless, and censorship-resistant protocol" to preserve its unique value.
Bitmine Adds Another 17,242 ETH, Worth ~$49.07 Million
On-chain analyst Onchain Lens (@OnchainLens) reported that Bitmine purchased an additional 17,242 ETH from FalconX and BitGo, valued at approximately $49.07 million at current prices.
Metaplanet: To Issue $150 Million Class B Perpetual Preferred Shares to Continue Bitcoin Accumulation
According to an official announcement, Japanese Bitcoin treasury firm Metaplanet announced the issuance of $150 million in Class B perpetual preferred shares with a fixed dividend rate of 4.9% and a conversion price of 1,000 yen, to be used for further Bitcoin accumulation.
Bloomberg: Polymarket Seeking New Funding Round at $12 Billion Valuation
According to Bloomberg, cryptocurrency prediction market Polymarket is seeking a new funding round at a $12 billion valuation, up from its previous $10 billion valuation round.
Market Trends
Suggested Reading
From NVIDIA to Binance, Selling Picks Is the Ultimate Business Model
This article explores the "pick-selling model" as a stable and high-probability business strategy, analyzing the role and success of such "pick sellers" from historical gold rushes to today’s AI and cryptocurrency booms. Using NVIDIA and Binance as examples, it illustrates how the pick-selling model maintains advantage in cyclical industries.
This article covers the new season of an AI trading competition centered on U.S. equities, where Gemini 3 Pro stands out. The new Alpha Arena Season 1.5 shifts the battleground to U.S. stocks, featuring more complex rules, eight participating models (including a new anonymous model and Kimi 2). While AI trading shows strength in high-frequency environments, individual investors are reminded to stay cautious and prioritize rational investing over blind following.
Deconstructing DAT: Building Deep Analysis Beyond mNAV
This article analyzes the current state and evaluation framework of Digital Asset Treasuries (DAT), including core metrics, market performance, management challenges, and future trends. DATs are seen as a new investment vehicle bridging traditional finance and digital assets, yet face challenges such as market sentiment swings, equity dilution, and lack of transparency.
Data Insights: Bitcoin’s YTD Gain Turns Negative—Is a Full Bear Market Here?
This article examines the significant volatility in the Bitcoin market, with year-to-date gains turning negative, weak spot demand, increasing ETF outflows, and declining market confidence. Derivatives markets show a sharp drop in speculative demand, rising implied volatility, and increased defensive positions, indicating heightened concerns over short-term downside risks. Future market direction will depend on key support levels and potential recovery in underlying demand.
Crypto ATMs Become New Scam Tool: 28,000 Machines Across U.S., $240 Million Lost in Six Months
This article highlights how scammers are exploiting cryptocurrency ATMs as a new tool, particularly targeting less tech-savvy elderly individuals. Fraudsters gain victims’ trust through impersonation, then guide them to deposit cash into crypto ATMs, convert it into cryptocurrency, and transfer it to scammer-controlled wallets. These scams have caused massive financial losses across the U.S., prompting law enforcement to strengthen oversight of crypto ATMs. Some operators are taking measures to curb fraud, including transaction limits, improved compliance, and user warnings about potential risks.
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