November Exchange Data Report: Spot trading volume of major exchanges in November 2025 fell 28% compared with October. The top three exchanges by change rate were Bitfinex +17%, Coinbase -8%, and KuCoin -17%. The bottom three were Bitget -62%, Gate -44%, and MEXC -34%. https://t.co/SErkRlrmAG ...

Core Viewpoint - The company, co-founded by Tether and Jack Mowers, aims to build a business that focuses on Bitcoin products while generating cash flow, distinguishing itself from traditional treasury companies and crypto exchanges like Coinbase [1][2][3]. Business Model - The company is not merely a treasury firm; it is focused on creating an operating company that offers Bitcoin products with the intent of generating cash flow [2][3]. - The business model seeks to combine elements of brokerage and exchange services specifically for Bitcoin, differentiating itself from broader crypto platforms [6][10]. Market Opportunities - There are significant opportunities in brokerage, exchange, credit, and lending within the Bitcoin space, which the company plans to capitalize on [5][7]. - The company aims to build credit markets and lending products on top of Bitcoin, recognizing it as a $2 trillion asset that requires financial infrastructure [7]. Strategic Partnerships - The company sees value in partnerships with established entities like Tether and Soft Bank, leveraging their credibility and resources to enhance its market position [8]. Investment Proposition - The company positions itself as a unique investment opportunity, emphasizing that it is not just a treasury asset but a business with substantial cash flow potential [10]. - It claims to hold over four times the amount of Bitcoin compared to Coinbase, reinforcing its commitment to acquiring Bitcoin as a core asset [10]. Market Perspective - The leadership views Bitcoin as a long-term opportunity amidst currency debasement and inflationary pressures, indicating a willingness to endure volatility for potential gains [12].

Core Viewpoint - Twenty One (XXI) has experienced a significant decline of 25% on its first trading day after merging with Cantor Equity Partners (CEP), now trading around $10.50, close to its PIPE pricing of $10 [1] Company Overview - XXI holds the third largest corporate bitcoin treasury with 43,514 BTC and is supported by notable entities such as Tether, Bitfinex, and Strike CEO Jack Mallers, who also serves as XXI's CEO [2] - The company's strategy emphasizes capital-efficient bitcoin accumulation and providing bitcoin ecosystem services, underpinned by on-chain proof of reserves [2] Market Context - The decline of XXI is part of a broader trend affecting bitcoin treasury companies this year, following the recent launch of Anthony Pompliano's ProCap BTC (BRR), which has seen a drop of over 60% since its debut, now trading at approximately $3.75 [3] - Another notable example is KindlyMD (NAKA), which funded its vehicle through a PIPE and is currently trading at $0.43, down 99% from its all-time high [4] - Bitcoin's price has remained relatively stable over the past 24 hours, currently at $90,900 [4]

The Morning Minute (12.9)Powered by @yeet⏰Top News:-Crypto majors fall 1-3%; BTC at $90,600-The CFTC to pilot tokenized collateral with BTC, ETH & USDC used as collateral-Saylor ($963M) and Tom Lee ($429M) both buy big last week-BlackRock files S-1 for ETH staking ETF ‘ETHB’-Stripe rolls out stablecoin payments across EVM networks🌎 Macro Crypto and Memes-Crypto majors are slightly red; BTC -1% at $90,600; ETH even at $3,130, BNB -2% at $888, SOL -3% at $133-ZEC (+11%), ADA (+3%) and DASH (+3%) led top mover ...

🚨 🚨 🚨 🚨 🚨 100,000,000 #USDT (100,150,000 USD) transferred from Tether Treasury to #Bitfinexhttps://t.co/lcxkrywW0V ...

🚨 🚨 🚨 🚨 🚨 100,000,000 #USDT (100,150,000 USD) transferred from #Bitfinex to Tether Treasuryhttps://t.co/cCnQNMDwHZ ...

Market Overview - Bitcoin (BTC) attempted a late weekend rally but reversed gains, settling around $90,000, down approximately 1% over the past 24 hours [1] - The broader crypto market, as measured by the CoinDesk 20 Index, declined by 0.8% [2] Altcoin Performance - Ethereum's ether (ETH) slightly decreased but outperformed BTC, reaching its strongest relative price against BTC in over a month [2] - Privacy-focused Zcash (ZEC) and institutional-centered blockchain Canton Network (CC) both recorded double-digit gains [2] Bond Market Dynamics - Long-duration government bond yields spiked due to concerns about Japanese bonds affecting other markets, with the U.S. 10-year Treasury yield rising to 4.19%, the highest in about three months [3] - The Japanese 10-year bond yield approached 2%, a level not seen in nearly two decades [3] U.S. Equity Market - U.S. equities declined, with the S&P 500 down by 0.5% and the Nasdaq by 0.3%, impacting overall risk appetite [4] Federal Reserve Meeting - The upcoming Federal Reserve meeting is anticipated to be significant, with a 25 basis-point cut expected, but any hawkish surprises could increase volatility [4][5] Bitcoin Market Sentiment - Analysts from Bitfinex noted that BTC is facing structural headwinds, with weakening spot demand and persistent outflows from U.S.-listed spot bitcoin ETFs [6] - Over seven million BTC are currently at an unrealized loss, reflecting bearish sentiment similar to the 2022 consolidation period [6] - Monthly capital inflows remain slightly positive at $8.69 billion, but are significantly lower than peak levels, providing only a modest buffer against downside risks [6]

A massive 43,033 BTC transfer flagged by Whale Alert Sunday is not a sell-off—it is the settlement capital for Twenty One (XXI), the Bitcoin-native firm led by Jack Mallers set to list on the NYSE December 9. The $3.9 billion transaction, confirmed on-chain, represents the release of funds from escrow to the company’s direct custody ahead of its public market open. Tether and the ‘Twenty One’ NYSE Listing Twenty One is going public via a merger with Cantor Equity Partners, a SPAC backed by Cantor Fitzge ...

Stable, a Bitfinex-backed Layer 1 using Tether's USDT for gas, launches mainnet and native token https://t.co/NIqFvbqkLJ ...

Blockchain Technology - StableChain is a Layer 1 (L1) blockchain [1] - StableChain is backed by Bitfinex [1] - USDT is used as the native gas for StableChain [1]