Evening Wrap: Crypto Majors Sink and Liquidate $1.1B on AI Equity Crash

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Crypto Markets Liquidate $1.1B as AI and Tech Equities Crash

$BTC dropped 5.4% to $75,871 alongside a 12% crash in US semiconductor shares over AI regulation concerns, triggering massive liquidations for crypto derivatives longs.

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Strive Acquires 15,124 Bitcoin to Expand Corporate Treasury

Strive raised total holdings to 43,124 Bitcoin as of Oct. 30 and reported a $509 million third-quarter net income. The firm funded its asset expansion by issuing $609 million in preferred stock.

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Chinese Authorities Halt Solana Event in Shanghai

Regulators stopped the Solana Accelerate gathering, while a PBOC official alleged the network's technical services support illegal digital asset trading.

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Ex-FBI Agent Pleads Guilty to Stealing $2.47M From Bureau Files

Patrick Yaroch abused his counterintelligence position to conduct fraudulent transfers across 35 active federal investigations. Agents recovered roughly $925,000 from the stolen funds.

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Nigeria Central Bank Mandates Local Licenses for Stablecoins

Foreign-currency stablecoin issuers must now incorporate in Nigeria and maintain a 15 billion naira capital reserve. Offshore operators face delisting risks if they fail to register by Dec. 5.

The numbers

Bitcoin trades at $75,794 and Ethereum at $2,227, as total cryptocurrency market capitalization slides 1.3% to $2.53 trillion.

What to watch

• The release of the October US jobs report and shifts in Federal Reserve December interest rate probabilities.
• Market participant registration with the Central Bank of Nigeria by Dec. 5 for stablecoin issuers.
• Implementation of South Korea's brokerage margin waivers on Monday.

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