American Bitcoin Corp. (Nasdaq: ABTC) reported about $126 million in third-quarter net income on Wednesday, a swing from a $57.2 million loss in the prior quarter that rested largely on a $197.3 million gain on the company’s bitcoin holdings rather than on mining revenue.

The Miami-based miner and treasury company, a majority-owned subsidiary of Hut 8 Corp. and co-founded with Trump family backing, mined about 891 bitcoin in the quarter at a cost of roughly $42,100 each and ended September with about 8,427 BTC.

Mining revenue was about $63.4 million, down from about $67.0 million in the second quarter. Gross profit was about $25.8 million, a 41% margin, compared with about…

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Stock perpetual futures can keep trading on Kalshi, Coinbase Derivatives and Bitnomial for now after a federal judge denied an emergency bid to halt them Tuesday, while finding that the Wall Street-backed challengers are likely to prove the CFTC overstepped its authority.

U.S. District Judge Valerie Caproni denied the temporary restraining order on Nov. 3 after a teleconference with the parties, hours after the CFTC said the products could begin trading on U.S.-regulated exchanges.

The plaintiff is the Capital Markets Alliance Association, a New York nonprofit whose members include Cboe Global Markets, Citadel Securities and the Healthy Markets Association, according to a…

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Rep. Bill Huizenga, the No. 2 Republican on the House Financial Services Committee, lost his reelection bid to Democrat Sean McCann, the Associated Press called Wednesday afternoon, despite about $1 million in support from the crypto super PAC Fairshake.

With more than 97% of votes counted earlier today, McCann led Huizenga 50.1% to 48.3% in Michigan’s 4th Congressional District, a gap of about 7,000 votes out of nearly 300,000 cast. The race had been rated “lean Republican” heading into Tuesday.

Huizenga, an eight-term congressman and the committee’s vice chair, is the highest-ranking Republican on the panel to lose. He is not the only crypto ally on it to go down.

House Democrats are discussing a plan to turn Rep. Maxine Waters’ Crypto Investor and Consumer Bill of Rights into their own crypto market structure bill next Congress, with ideas that include a bigger role for the SEC and a smaller one for the CFTC, Eleanor Terrett reported Wednesday.

The proposal would fold in the Democratic Clarity Act provisions Waters offered in the House, which were not adopted, plus the provisions Senate Democrats were able to agree on with Republicans before September’s failed cloture vote. Terrett cited three industry sources who have spoken with Democratic staffers.

Further ethics provisions restricting the crypto activities of President Donald…

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French bank Credit Mutuel Arkea said Wednesday that a cyberattack allowed hackers to carry out fraudulent transfers from the bank’s own account, a theft that on-chain investigator ZachXBT has put at more than $133 million and that the bank has not confirmed.

The Brittany-based lender said in a statement that the incident was under control, that operations were resuming and that customer assets were not affected. It suspended some transactions as a precaution.

“This incident has had no impact on (customer) assets and has only caused a delay in the execution of certain transfers,” the bank said on its website, in a translation published by Reuters.

In a follow-up…

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Bitcoin price traded near $80,000 on Wednesday afternoon, up about 3% on the day and roughly $26,000 below its price one year ago, as markets shook off election-night jitters over the Democratic sweep of Congress, according to Bitcoin Magazine Pro data.

Bitcoin changed hands at $80,099 at 3:12 p.m. ET, with a market cap of about $1.61 trillion and roughly $39.6 billion in trading volume over the past 24 hours.

The low came in the 10 p.m. ET hour on Tuesday, as results showed Democrats taking both chambers. The high came in the 10 a.m. hour on Wednesday. That is a swing of about 7.3% from bottom to top in roughly 12 hours.

The climb was a short squeeze. About $950 million in…

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Strategy’s Stretch preferred stock touched $100 today for the first time since May, returning to the par value the company has spent over $2 billion in buybacks and five months of rate increases to defend.

STRC traded below $80 at times in June, a massive discount to its stated value. The climb back to $100 restores the price at which Strategy says it will resume issuing new shares, the mechanism that funds its bitcoin purchases. Chairman Michael Saylor had pledged to keep the stock at or above par and to hold the dividend at 12% until it got there.

Two changes landed in the past week. Shareholders approved daily dividends on STRC and three other preferreds on Oct. 28 by a…

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Bitcoin Core and Lightning developer Matt Corallo highlighted a severe Linux kernel vulnerability on October 30, criticizing Ubuntu’s delayed response to what he called “the most critical Linux vuln ever.” The bug, tracked as CVE-2026-98432, affects the kernel’s IPv4 TCP handshake code with a CVSS severity score of 9.8. Anthropic’s Frontier Red Team later showed it could be turned into a remote root exploit against systems exposing a Multipath TCP (MPTCP) listener.

Peter Todd echoed the warning the same day, advising anyone running LND on Linux with open ports to shut their Bitcoin Lightning nodes down until the kernel was patched or otherwise mitigated. The demonstrated…

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Block has agreed in principle to pay $764 million to resolve a Justice Department investigation into its anti-money-laundering controls, a sum larger than the $566 million profit the company reported for the third quarter.

The agreement, reached in October and disclosed in a 10-Q filed Nov. 3, would defer for three years a criminal charge that Block failed to maintain an effective anti-money-laundering program under the Bank Secrecy Act. 

The gross figure is about $964 million, reduced to $764 million after credits for earlier regulatory settlements. Block has accrued the full amount and said losses above it are “reasonably possible.” 

The company disputes the basis and…

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Librería de Satoshi, the technical education organization, recently announced the launch of its global platform as they rebrand to ISMOS and shows off a new website. The organization aims to expand its Bitcoin and open-source developer education program throughout the world, creating local hubs across the world and delivering education programs in local languages.

Since 2021, ISMOS has reached more than 3,665 people in more than 40 countries and has financially supported 30 open-source developers, according to a press release shared with Bitcoin Magazine. 

“Talent is universal; opportunity is not. I founded Librería de Satoshi because I experienced the language barrier in…

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