Michael Saylor backing down?

➤ Michael Saylor has purchased more than $72.4 billion worth of BTC. To fund new purchases, the company relies on raising capital through stock sales.

➤ Investors are starting to have doubts. Demand for new preferred shares and bonds is uncertain, while competition from ETFs and companies with BTC reserves is intensifying.

➤ Saylor has already begun scaling back his BTC buys — only 585 BTC in the past two weeks — due to limited capital.

➤ Previously, Saylor pledged not to issue new shares if the premium to BTC reserves dropped below 2.5x, in order to avoid diluting shareholders. The “premium” refers to the markup in Strategy’s stock price compared to the value of BTC on its balance sheet.

➤ Today, however, Strategy has allowed issuing shares even if the premium to its BTC reserves falls below the set threshold — if deemed “beneficial for the company.”

➤ Since November, Strategy’s stock has fallen 22%, while Bitcoin itself has risen 23%.

Companies that continuously buy crypto for their balance sheets (Digital Asset Treasuries, DAT) have become the dominant force in crypto capital allocation this year: according to The Block
, by August these companies had raised over $15 billion.

Thumzup Media plans to acquire Dogehash Technologies
, a company specializing in Dogecoin and Litecoin mining.

▪️The holding will focus on a Dogecoin reserve strategy and begin using DeFi products within the DogeOS ecosystem to boost yields beyond mining.

▪️Donald Trump Jr. is a shareholder in Thumzup Media.

SoFi launches international crypto transfers.

The American fintech bank SoFi has integrated Lightspark
technology and the Bitcoin Lightning Network to make cross-border transfers faster and cheaper.

➤ Transfers directly from the SoFi app without third-party services.
➤ Conversion USD → BTC → local currency (instant).
➤ Transparent conditions: exchange rate and fees displayed in advance.
➤ 24/7 access, fees below market average.
➤ Launching in Mexico, with more countries to be added.

SoFi is one of the largest U.S. fintech banks, with over 11,700,000 clients.

The crypto platform Hyperliquid — where whale James Wynn, closely watched by everyone, keeps losing millions — has become the most profitable company in the world by revenue per employee ($102.4M per worker!), surpassing giants like Tether and OnlyFans.

It’s one of those companies with relatively few employees that makes an enormous amount of money.

Andrew Tate: Cryptocurrency is the dollar’s last hope. Nobody buys U.S. government bonds anymore except stablecoin issuers.

The crypto market structure bill is set to be delivered to Donald Trump for signing by November 27 – Cynthia Lummis

Key provisions of CLARITY:

◽️ Establishes a unified regulatory framework for digital assets in the U.S.

◽️ Defines jurisdictional boundaries between the SEC and CFTC: the SEC will oversee issuance and capital raising for crypto projects, while the CFTC will regulate trading of digital commodities.

◽️ Registration and oversight of trading platforms, brokers, and custodians under the CFTC and the National Futures Association (NFA).

◽️ Sets requirements for internal controls, market manipulation prevention, conflict of interest management, and ensuring fair trading practices.

◽️ Secondary trading of digital assets does not automatically classify them as securities (based on the SEC vs Ripple precedent).

◽️ Introduces the category of “ancillary assets” – digital assets that are not considered securities under certain conditions (mainly for utility tokens).

◽️ Creates a self-certification mechanism for issuers: a company may declare its token is not a security, with the SEC having 60 days to challenge the claim.

◽️ Updates the definition of an investment contract.

◽️ Expands the powers of bank holding companies, allowing them to participate in certain crypto-related activities within their permitted scope.

◽️ Establishes AML/KYC standards (anti–money laundering and counter-terrorist financing).

◽️ Provides for an open rulemaking procedure, allowing for additional regulations and clarifications after the law takes effect.

Tokens #ADA, #XRP, and #BTC are currently at the top of social media discussions – Santiment

Companies buying BTC for their balance sheets are a “fools’ paradise” — FT

Japanese giant SBI Group has formed a partnership with Chainlink.

The first outflow in 2 weeks — and the largest in 6 months — hit crypto investment products: -$1.43 billion over the past week, compared to an inflow of +$3.75 billion the week before — CoinShares data.

Long-term BTC holders have already earned more than in previous cycles, except for 2017 — Glassnode

Winter is coming?

For the first time in history, the market capitalization of stablecoins has surpassed $280 billion.

▪️Since the beginning of the year, the figure has grown by about 35% (or $75 billion). In his new essay, BitMEX founder Arthur Hayes described stablecoins as the driver of a “once-in-a-century transformation of the global monetary architecture.”

▪️“I estimate that by 2028 the total volume of U.S. dollar–pegged stablecoins will reach at least $10 trillion,” Hayes added.

▪️In his reflections, Hayes also highlights the special role of U.S. Treasury Secretary Scott Bessent in the development of the stablecoin market. Bessent has repeatedly emphasized the vast potential of the crypto industry, assigning a central role to stable tokens — much like Trump has done publicly.

According to Bessent, after the adoption of the GENEUS Act, which regulates the U.S. stablecoin market, the sector could reach a market cap of $3.7 trillion by 2030 — slightly more modest than Hayes’ $10 trillion projection.

CZ: “I truly believe that Bitcoin will become the global world reserve currency.”

Changpeng Zhao is also confident that trading volume on DEX will one day surpass that of CEX.

He added that the next major breakthrough in cryptocurrency may occur in the fields of AI, RWA, and stablecoins.

Top 100 public companies by the amount of BTC on their balance sheets as of now

Google is launching its own blockchain service.

Google Cloud announced the launch of Universal Ledger (GCUL) — a new platform that could compete with traditional blockchains and payment networks.

Key points:

➤ Focus on payments – global, 24/7, multi-currency, programmable transfers.

➤ Simplification – access through a single API, without complex infrastructure.

➤ Speed and scale – designed for massive transaction volumes, from retail to capital markets.

➤ Security and compliance – built-in KYC, permissioned network, Google’s technologies.

➤ Lower fees – transparent and predictable pricing, an alternative to costly cards and slow banks.

GCUL is positioned as a next-generation financial infrastructure that will allow banks, fintechs, and corporations to launch products faster, cut costs, and compete with blockchain startups.

Google is betting on Corporate Blockchain 2.0 — more secure and integrated than public networks, yet scalable across the global market.