FinCEN Moves to Cut MEXC Global Off From US Banks Over Alleged $16B Illicit Flows
TL;DR: The US Treasury’s Financial Crimes Enforcement Network says MEXC Global facilitated at least $16 billion in transactions linked to illicit activity and has issued a special measure prohibiting US financial institutions from processing transfers involving the exchange. The finding is a regulator’s allegation, not a judgment against every MEXC user. The sharpest crypto enforcement…
FinCEN Withdraws Proposed Crypto Travel Rule Expansion in Separate November Move
TL;DR: FinCEN and the Federal Reserve are withdrawing a proposed expansion of US recordkeeping and Travel Rule requirements that would have covered certain convertible virtual currency transfers and lowered a cross-border transfer threshold. The withdrawal removes a proposal; it does not cancel existing anti-money-laundering obligations. Two announcements issued by the same US agency on November…
Circle Says It Froze $1.1B in USDC Linked to Binance Hack Investigation
TL;DR: Circle says it froze roughly $1.1 billion in USDC connected with the reported Binance exploit while working with law enforcement. The stablecoin issuer stresses that a wallet freeze does not decide asset ownership or whether funds should ultimately be forfeited. The response to the enormous reported Binance breach has exposed a difficult but essential…
Coinbase Explains Cold-Storage Defences After Binance Breach Shakes Crypto Industry
TL;DR: Coinbase says it was not affected by the reported Binance hot-wallet incident and that more than 99% of customer assets are kept in cold storage. The exchange outlined controls around signing, withdrawal limits and suspicious activity, offering a useful test of how custodians should explain security practices. A major attack on one exchange inevitably…
Riot Sells More Than 20,000 Bitcoin as AI Data-Centre Contracts Reach $38B
TL;DR: Riot Platforms says it sold 20,264 BTC in the first nine months of 2026, raising about $1.5 billion primarily for data-centre development. Its latest quarterly release puts long-term contracted data-centre revenue at around $38 billion, underlining how far the miner’s business model is shifting. Riot Platforms has made a striking choice with its Bitcoin…
Hut 8 Expands AI Campus Commitments While Funding Buybacks With Bitcoin Sales
TL;DR: Hut 8 says it fully commercialised its Beacon Point AI campus with a second 352 MW lease, taking expected aggregate base-term contract value across its AI data-centre portfolio to about $26.6 billion. The company also sold Bitcoin to fund share repurchases, showing how mining-era assets are being redeployed. Hut 8’s third-quarter update is less…
Core Scientific’s AI Colocation Revenue Jumps to $215M as Mining Role Shrinks
TL;DR: Core Scientific reported $215.4 million in third-quarter colocation revenue, nearly 60% above the prior quarter, while billing 485 MW of capacity. Its results show how an operator once known for Bitcoin mining is building a much larger business around contracted AI infrastructure. Some Bitcoin mining companies have talked about their artificial-intelligence ambitions for years.…
Cipher Digital Starts Booking HPC Lease Revenue as $9.1B Contract Takes Shape
TL;DR: Cipher Digital says it recognised its first high-performance-computing lease revenue in the third quarter of 2026 and extended its Barber Lake lease to 20 years, increasing contracted revenue to $9.1 billion. The milestone is about converting data-centre development into an operating business, not an instant cash windfall. A signed data-centre lease and a functioning,…
Circle’s USDC Transaction Volume Rises 49% Even as Reserve Income Faces Pressure
TL;DR: Circle reported $13.9 trillion of USDC onchain transaction volume in the third quarter of 2026, up 49% year over year, while average USDC circulation reached $73.3 billion. The issuer’s results show strong network activity, but that does not translate directly into equivalent revenue growth. Stablecoin businesses are often judged by a single number: how…
BVNK Opens OUSD Minting and Payments Across Four Blockchains
TL;DR: BVNK says eligible business customers can now mint, redeem, hold and transfer Open USD (OUSD) on Ethereum, Solana, Base and Tempo. The November 6 rollout is a practical payments integration, but the company has not provided transaction volumes proving how extensively the new service is being used. A stablecoin’s biggest hurdle may not be…