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Morgan Stanley downgraded Coinbase (COIN) to underweight from equal weight and cut its price target to $120 from $258, a roughly 53% reduction, CNBC reported. Morgan Stanley analyst Michael Cyprys cited slower cryptocurrency trading, weak revenue prospects and market uncertainty following the Binance hack as the main reasons. Cyprys expects Coinbase’s October trading activity weakened, with fourth-quarter transaction revenue likely to come in about 11% below market expectations. Coinbase shares have fallen about 22% over the past month and closed at $143.54 on Nov. 1, according to the report.

The Financial Action Task Force has agreed to closely review the implementation of anti-money laundering rules in major countries and jurisdictions accounting for about 97% of the global virtual asset market, Crypto Briefing reported. The decision was reached at a plenary meeting held in Paris on Oct. 28-30. The review will focus on countries with active virtual asset service providers, or VASPs, including crypto exchanges and custodians, with the aim of promoting implementation of FATF Recommendation 15 on crypto-related oversight. The specific jurisdictions were not disclosed. Initial findings are due in June 2027, followed by additional results in October 2027. FATF also plans to provide technical support to help strengthen regulatory frameworks and anti-money laundering response capacity in the targeted jurisdictions.

Strategy announced the purchase of an additional 810 BTC for $65.5 million at an average price of $80,846 per Bitcoin. The company now holds 849,327 BTC. Strategy also said it sold 1.18 million common shares last week to raise $164 million, of which it plans to retain $98.5 million in cash. During the same period, it repurchased $208.2 million of its preferred stock, STRC.

Strive said it bought an additional 124 BTC for $10 million and now holds a total of 43,124 BTC.

XRP Ledger is expected to fix a flaw on Nov. 4 that allowed accounts with only token-burning authority to mint new tokens, CoinDesk reported. Under the previous structure, when a stablecoin issuer granted a payment service the authority to burn tokens, that service could also create tokens without separate minting authority, but the update would separate those permissions. The change would not affect XRP supply. Governance backing for the fix currently stands at 33 of 35 validators, and activation requires at least 29 validators to maintain support for two weeks. If that backing holds, the earliest activation time is 2:46 p.m. UTC on Nov. 4.

Stablecoin payments platform KAST does not plan to issue a native platform token, founder Raagulan Pathy said. Instead, user points will be converted into "KAST Pioneer Units" issued by a KAST-affiliated special purpose vehicle, or SPV. KAST said it plans to offer periodic redemption opportunities, but added there is no guarantee on redemption size, timing, or returns. The move is intended to prevent conflicts of interest tied to a token issuance while allowing users to share in KAST’s growth.

Concerns are rising in Israel’s crypto industry after Prime Minister Benjamin Netanyahu proposed using cryptocurrencies as a workaround in case of international financial sanctions, Bitcoin News reported. Addressable CEO Tomer Sharoni and ORBS CEO Ran Hammer said Netanyahu’s remarks could prompt offshore exchanges and banks to tighten scrutiny of Israeli crypto companies, hurting the credibility of the local Web3 industry. Sharoni urged the Bank of Israel, securities regulators and capital market authorities to jointly introduce a regulatory sandbox and establish a licensing framework for virtual asset service providers, or VASPs, in line with the EU’s Markets in Crypto-Assets regulation, or MiCA, and the Financial Action Task Force’s travel rule. Netanyahu had earlier said an alternative economy was needed in case Israel faced banking sanctions, while citing blockchain technology and cryptocurrencies as viable alternatives.

A cryptocurrency company based in the European Union appears to have suffered a theft of about $106 million, according to ZachXBT. The hacker is believed to have withdrawn the stolen funds in USDC and USDT. Over the past 24 hours, the attacker swapped USDC for ETH, moved the funds to exchanges including WellWallet and Kyrrex, then swapped them again into Monero (XMR) and dispersed the assets across multiple addresses. The name of the affected company and whether authorities have intervened have not yet been confirmed.

American Bitcoin, a Bitcoin mining company linked to U.S. President Donald Trump’s family, is seeking a stock market listing through a $2 billion deal, Walter Bloomberg reported.

Crypto.com announced it will gradually discontinue services in Hong Kong. A detailed timetable will be provided later, and its app service is scheduled to end in February next year. Crypto.com’s Hong Kong entity had applied for a license with local authorities in February 2024, but approval has yet to be granted.

Spot Bitcoin ETFs emerged as the main source of Bitcoin buying in the third quarter, overtaking major accumulation companies, 21Shares said. 21Shares said spot BTC ETFs posted around $6.2 billion in net inflows in the third quarter, absorbing twice the amount of newly mined Bitcoin after reversing from $4.8 billion in net outflows in the second quarter. But long-term holders sold 248,000 BTC, worth $17.4 billion, or about three times the amount bought by spot ETFs. Major Bitcoin accumulation companies bought $7.1 billion in the second quarter but only $1 billion in the third quarter, according to the analysis.

An anonymous whale transferred 3.9 million LIT worth about $12.21 million, which had been unstaked two days earlier, to centralized exchanges including OKX about 30 minutes ago, AmberCN reported. Exchange deposits are generally interpreted as intended for selling.

Startale, a Web3 venture formed by Japan’s SBI Holdings, Sony and the Astar Network Foundation, has launched the Startale Card, a virtual card that lets users spend onchain assets in everyday payments, U.Today reported. Linked to the Startale app, the card supports USDSC payments at more than 150 million merchants worldwide without requiring separate withdrawals through a bank account or cryptocurrency exchange.

The Binance hacker laundered 28 BTC worth $2.2 million through the CoinJoin cryptocurrency mixing protocol, according to blockchain analytics firm Elliptic. The review covered the period from Nov. 1 through 6:02 a.m. UTC today, and the laundering technique used the WabiSabi protocol, a mixing technology used by services including Wasabi Wallet. Elliptic said the BTC sent into CoinJoin first came from stolen TRX funds, followed by ETH that had been swapped into BTC. The 18,270 BTC stolen directly from Binance remains unmoved and split across 19 addresses. Elliptic said about $3.24 billion of the total $6.43 billion stolen remains in the hacker’s possession, while $2.85 billion has been frozen, seized, or otherwise handled.

Restaking protocol Swell said it has completed compensation related to the swETH and rswETH incident, fully covering the shortfall by paying about 0.25 ETH each to 18 addresses that deposited at an inflated rate.

A Binance hacker transferred $4 million to a Binance deposit address, Arkham reported. Arkham said the addresses were likely linked to a nested service, a third-party exchange that uses Binance for liquidity provision and asset custody services.

Binance announced it will run a community appreciation campaign from 11:30 a.m. UTC today through 11:59 p.m. UTC on Nov. 21. Users who complete customer verification during the period will receive a 100 USDC spot trading fee voucher. Binance also said users who reach at least $10,000 in cumulative trading volume across spot and futures will share a 20 million USDC reward pool based on their share of total volume. The maximum reward is 4,000 USDC per user. In addition, deposit products including USDT and USDC Simple Earn will offer APR of up to 10% during the campaign.

Solana validator client developer Anza said Solana mainnet beta validators face a critical vulnerability, CryptoSlate reported. The flaw has a severity score of 9.8 out of 10, and while patched code has already been deployed, the fix has not yet been applied to the Ubuntu kernel commonly used by validators. Anza has advised operators to block suspicious network data, and no actual damage has been reported so far.

Brazilian stablecoin payments infrastructure company Bloquo has raised $3.72 million, local business outlet Valor Economico reported. The funding round was led by Crescera Capital and TriAxis Capital, and the proceeds will be used to strengthen compliance systems, improve technology infrastructure, and expand the platform’s business operations. Founded in 2025 and based in Rio de Janeiro, Bloquo supports cross-border payments, foreign exchange trading, and trade finance services using stablecoins.

The Ohio State Teachers Retirement System holds $16.8 million worth of Strategy (MSTR) shares, a Bitcoin historian said, citing a third-quarter filing with the U.S. SEC on Form 13F. The holding was disclosed in the filing and was up about 83% from the previous quarter. The Strategy position can be viewed as an indirect Bitcoin holding.

Japan-listed Bitcoin accumulation firm Metaplanet announced the additional repurchase of 22.46 million treasury shares worth $37.8 million to increase its Bitcoin holdings per share. The company’s cumulative share buybacks now total 96.44 million shares, equal to about 7% of its total common shares.

Crypto data platform RootData said a total of 368 cryptocurrency projects have shut down this year, up by 244 from August. Of those, 85 projects, or 23.1%, directly announced their shutdowns, while RootData classified the remaining 283, or 76.9%, based on its own analysis of their operating status. The list includes BLAST, Abstract, Balancer (BAL), Goldfinch, CoinEx and BitMEX. Among them, 37 projects had previously raised more than $10 million, while 94 had secured more than $1 million in funding. By sector, DeFi accounted for the largest share at 110 projects, or 29.9%, followed by infrastructure at 64, or 17.4%, and AI at 27. Within infrastructure, there were 13 layer-one and 13 layer-two projects.

Restaking protocol Swell said claims are now available for SWELL, swETH and rswETH remaining on Swellchain following the network’s shutdown.

More than $400,000 was lost after Premia Labs’ vault contract on Arbitrum was attacked on Nov. 1, according to GoPlus, a Web3 security data infrastructure provider. GoPlus said anyone can deploy option pools through the factory contract, but the vault lacked sufficient verification to determine whether it could interact safely with those pools. The attacker created six empty option pools, then used a flash loan to buy options and induce the vault to lock collateral in those pools before extracting the collateral through the pools’ liquidity mechanism.

An anonymous whale that had been dormant for six years transferred 999.953 BTC worth $78.12 million to a new address, according to Lookonchain.