Crypto Talkies November 10th 2025

Crypto closed the day on a high note as policy headlines and fresh liquidity hopes juiced risk appetite. Markets leaned into a proposed $2,000 tariff dividend floated by President Trump, a potential cash splash for Americans that, if greenlit by the Supreme Court, could funnel new dollars toward digital assets. Add in signs that the prolonged government shutdown may be ending and chatter of a broader U.S. liquidity boost near $500 billion, and you get a bid-heavy tape: Bitcoin (BTC) pushed past 105,000 to 106,000 at the highs, Ethereum (ETH) climbed more than 7 percent, and total crypto market value rose nearly 5 percent. Regulatory clarity added fuel. The U.S. Treasury and IRS opened the door for crypto exchange-traded products to stake assets and share rewards with investors, easing a long-standing legal and tax question that had kept issuers on the sidelines. Meanwhile the CFTC, under acting chair Caroline Pham, is in talks with exchanges to bring leveraged spot crypto products to market as early as next month, even as Congress continues to debate broader spot oversight. Across the Atlantic, the Bank of England proposed a regime for systemic stablecoins that would allow up to 60 percent of reserves in short-term government debt and set a 20,000 pound per person holding cap, a cautious blueprint that invites feedback ahead of final rules by 2026. ETF speculation wasn’t limited to Bitcoin. Nine spot XRP funds landed on the DTCC’s list as Canary Capital preps an XRP ETF launch, stoking institutional interest while U.S. SEC approvals remain pending. XRP (XRP) ripped to 2.53 at one point, adding roughly 16.6 billion dollars in market value as inflows chased the narrative that the asset class is marching deeper into mainstream market structure. Under the hood, the network experience meaningfully improved. Ethereum gas briefly plunged to 0.067 gwei, turning transactions into pocket change. Low fees are a relief for users and app builders, though the lull in on-chain activity raises the question of how sustainable Ethereum’s long-term revenue model looks when block space isn’t scarce. On the adoption front, Square flipped the switch on Bitcoin payments for 4 million U.S. merchants, enabling Bitcoin-to-Bitcoin checkout and promising zero fees until 2027, with Lightning-powered settlement everywhere except New York due to licensing. Corporate moves underscored the build cycle. Hardware wallet maker Ledger, buoyed by 2025’s surge in security demand amid record hacks, is weighing a New York IPO versus fresh private financing. Coinbase unveiled a new platform to give both retail and accredited investors early access to token sales in the U.S. for the first time in seven years, starting with Monad and supported by its acquisition of Echo to broaden issuance capabilities. Decentralized finance got its own shake-up as Uniswap rolled out the UNIfication plan to merge its core entities, burn UNI (UNI), and refine fee mechanics, a flex to maintain its lead among DEXs. Flows were a study in contrasts. Crypto investment products saw 1.17 billion dollars of outflows over the past two weeks, dragging assets under management to their lowest since mid-July. Yet beneath the surface, selected altcoins held firm with pockets of inflows, and spot markets shrugged as dip-buyers stepped in. Whale selling in Bitcoin created chop and intraday air pockets around the 100,000 level, but topside momentum ultimately won the session. Macro voices joined the bid: Rich Dad Poor Dad author Robert Kiyosaki said he’s been loading gold, silver, Bitcoin (BTC), and Ethereum (ETH) into an expected downturn, while Michael Saylor’s firm added 487 BTC, and short seller James Chanos closed his MicroStrategy trade, a vote that the long Bitcoin treasury trade may have found its bottom. Asia remained in focus as Bybit explored a deal to acquire Korbit, South Korea’s fourth-largest exchange, a move that would reshape local dynamics if consummated. Politics and tokens continued to mingle, with the Trump-linked WLFI (WLFI) swinging wildly as shutdown headlines whipsawed sentiment; despite a late-day dip after profit-taking, the token’s weekly volume exploded alongside a broader risk-on push. Another thread tying crypto to the AI boom emerged as Rumble agreed to buy Northern Data in a 767 million dollar deal that pairs cloud and GPU heft with content distribution. Tether committed up to 150 million dollars in GPU services as part of the tie-up, putting the stablecoin giant (USDT) closer to the compute supply chain that underpins both AI and on-chain data infrastructure. Not every headline was about buying. BitMine Immersion Technologies said it has accumulated more than 3.5 million ETH, targeting 5 percent of supply by 2025, a reminder that institutional balance sheets are increasingly comfortable owning protocol-level assets directly. And in the background, the wallet trade stayed hot: as hacks mount, self-custody and security hardware look poised to ride the next adoption wave, a trend that dovetails with Ledger’s potential IPO and the broader push to de-risk how users hold coins. As traders head into the night, the setup is simple but volatile. A reopening U.S. government, looming budget data, ETF mechanics that now include staking, and the prospect of leveraged spot products all intersect with a stimulus-lite narrative from Washington. That cocktail drove prices higher today; whether it fuels a sustained leg up or just a noisier range will depend on how much of the promised liquidity actually shows up and how quickly regulators turn today’s signals into live products. For now, momentum belongs to the bulls, with an asterisk the size of the macro calendar.

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