The U.S. Department of Justice said it has obtained court authorization to seize or otherwise restrain more than $1.2 billion in cryptocurrency tied to the $6.3 billion stolen from Binance in the Oct. 29 hack. The move covers a portion of the more than $2.7 billion in assets that U.S. authorities and private-sector partners have already frozen while they continue to pursue additional funds, the DOJ said in its announcement. The alleged theft has been tied to North Korea by U.S. investigators. The FBI attributed the attack to the North Korean-linked TraderTraitor group, while Kim Yo Jong, sister of North Korean leader Kim Jong Un, denied the country’s involvement, according to reporting cited by Cointelegraph. Binance, for its part, said it covered affected assets with its own funds and pointed to a new proof-of-reserves snapshot showing at least one-to-one backing for customer assets in a post on X. Key takeaways The DOJ secured court authority to seize or restrain over $1.2 bill...

Nakamoto, a Nasdaq-listed company that holds Bitcoin as part of its treasury strategy, saw its shares slide sharply in premarket trading after it disclosed third-quarter results marred by losses tied to Bitcoin options. The stock dropped 6.5% in early Friday trading, reflecting investor focus on how derivative hedging activity can swing quarterly performance—even when the company’s underlying digital-asset holdings are revalued. According to Yahoo Finance, Nakamoto’s shares were trading at $5.40 at 12:02 pm UTC on Friday. That level implied a decline of roughly 62% year to date. The move followed results released after market close on Thursday, as detailed in the company’s filings with the US Securities and Exchange Commission (SEC). Key takeaways Nakamoto reported third-quarter operating revenue of negative $1.9 million, after a $5.8 million loss on Bitcoin options. Analysts expected about $17.4 million in revenue, per estimates compiled by Yahoo Finance. The company recorded a ...

Arthur Hayes, the co-founder of BitMEX, says he is “flattered” by Coinbase’s legal efforts to defend stock-linked perpetual futures in a US court fight involving the CFTC. Hayes made the comments in response to a dispute over whether certain perpetual contracts should be regulated as futures—or instead treated as security-based swaps, which generally face stricter rules for retail participation. At the center of the case, the Capital Markets Alliance Association (CMAA) is asking the court to stop trading in perpetual futures tied to individual US stocks. Coinbase and five other companies filed a brief opposing CMAA’s request, and the court accepted the submission on Tuesday after it was filed the prior day. Key takeaways Hayes framed Coinbase’s position as a decade-later echo of BitMEX’s first perpetual swap launch in the US, saying imitation is “sincere regulation.” CMAA argues stock perpetual contracts should be regulated as security-based swaps due to the way they function for r...

Nakamoto, a Nasdaq-listed Bitcoin “treasury” company, saw its shares drop sharply in early trading on Friday after it disclosed that losses on its Bitcoin options weighed on quarterly results. The stock fell 6.5% in premarket activity and was trading at $5.40 at 12:02 pm UTC, according to Yahoo Finance . The selloff comes amid investor scrutiny of how crypto-linked derivatives can affect company earnings—especially for firms whose balance sheets are dominated by digital assets. Nakamoto reported third-quarter results after markets closed on Thursday, and the company’s operating revenue turned negative following option-related losses. Key takeaways Nakamoto’s third-quarter operating revenue fell to negative $1.9 million, driven by a $5.8 million net loss on Bitcoin options. Reported revenue for the quarter totaled $3.9 million, but results were pressured at the operating level by derivatives outcomes. Investors are still weighing how much of Nakamoto’s profitability is tied to rev...

Israeli police have arrested five people in a money-laundering investigation that involved roughly 16 million shekels (about $5 million) in cryptocurrency transactions coordinated through a WhatsApp group, according to reporting by The Jerusalem Post . Investigators from Lahav 433’s National Unit for Combating Economic Crime allege the group operated as a crypto service provider without the required license and failed to report relevant activity to Israel’s tax authorities. Police say the suspects also used fictitious agreements to make crypto proceeds transferred into bank accounts appear to be loans. Key takeaways Five individuals were arrested in Israel tied to about 16 million shekels in crypto transactions allegedly arranged via a WhatsApp group. Authorities claim the suspects provided crypto-related services without a license and did not report transactions to Israel’s tax authority. Police allege fake agreements were used to disguise crypto-derived funds as “loans” in bank...

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Bitcoin slipped to around $67,500 on Friday, edging below its 200-week simple moving average in what traders described as the first meaningful retest of the long-term trend line in nearly three months. The move has refocused attention on the asset’s larger market structure, with some technical analysts pointing to the possibility of another leg lower if key momentum levels fail. At the same time, risk sentiment appeared pressured in Asia and US pre-market trading after reports involving Nvidia CEO Jensen Huang and growing uncertainty around leadership. While the connection to crypto is indirect, broader equity weakness and shifting expectations around the AI trade helped set a cautious tone for markets more broadly. Key takeaways Bitcoin dropped to its 200-week simple moving average near $67,993, marking the first test of that weekly trend line in about 11 weeks. Material Indicators co-founder Keith Alan said a weekly RSI break below 41.5 could open the door to a move toward a $57,...