Daily Brief: Crypto Longs Lose $1.1B in Tech Selloff; FinCEN Bars MEXC Global

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Crypto Majors Drop 5% Following Tech Stock Crash

Bitcoin fell 5.4% to $75,871 as semiconductor shares crashed over 12%, triggering more than $1.1 billion in crypto long liquidations .

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FinCEN Severs MEXC Global From US Financial System

The Treasury Department barred US institutions from transmitting funds to MEXC Global over alleged sanctions evasion and cybercrime flows .

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Strive Accumulates 15,124 Bitcoin in October

Strive acquired 15,124 $BTC in October, raising its total holdings to 43,124 BTC . The company reported $509 million in third-quarter net income, driven by $533.7 million in unrealized Bitcoin gains .

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Former FBI Agent Pleads Guilty to Crypto Theft

Patrick Yaroch pleaded guilty to wire fraud and money laundering after stealing $2.47 million from 35 FBI investigations . Federal agents recovered roughly $925,000, and sentencing is scheduled for March 4, 2027 .

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Nigeria Mandates Local Licenses for Stablecoin Issuers

The Central Bank of Nigeria ruled that foreign stablecoin issuers must incorporate domestically and secure local licenses .

The numbers

Bitcoin trades at $75,889, total crypto market capitalization stands at $2.54 trillion, and the Fear & Greed index indicates Extreme Fear at 25.

What to watch

• Release of the October US jobs report and shifts in Federal Reserve December interest rate probabilities.
• Federal Register publication date for the FinCEN order against MEXC Global, initiating a 30-day countdown.
• Market participants in Nigeria must register with the CBN by Dec. 5 to preserve interim activity.

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