Decentralized artificial intelligence (AI) network Ritual came out of stealth mode to announce a $25 million Series A financing for the company, led by Archetype. The company offers an AI-powered infrastructure that aims to execute complex logic currently infeasible for smart contracts.

While AI adoption maintains an uptrend across all business verticals, issues such as high compute costs, limited hardware access and centralized APIs hinder the full potential of the current AI stack. As explained in Ritual’s introductory post:

“The grand vision for Ritual is to become the schelling point of AI in the web3 space by evolving Infernet into a modular suite of execution layers that interop… Read more on Cointelegraph

The Securities and Exchange Commission (SEC) has rejected a bid by Binance to dismiss a lawsuit against it. The SEC alleges that Binance has misused and misinterpreted legal principles in its defense.

What Happened: The SEC has contested Binance’s attempt to dismiss the regulator’s lawsuit, reported Cointelegraph. The SEC argues that Binance’s defense is based on an improper legal analysis and lacks a solid legal foundation.

In a court filing dated Nov. 7, the SEC called out Binance’s previous efforts to have the lawsuit dismissed. The SEC contends that no court has accepted Binance’s “tortured interpretation of the law.”

See Also: US Lawmakers Want To Slash Gary…

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Bitcoin (BTC) neared $37,000 on Nov. 9 as a fresh BTC price surge appeared to take traders by surprise.

BTC/USD 1-hour chart. Source: TradingViewU.S. “carrying” Bitcoin upside

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD passing $36,000 after the daily close.

The pair went on to reach $36,864 on Bitstamp, making its highest level since early May 2022.

The day prior, concerns among market participants focused on bid liquidity heading lower, potentially allowing for a retest of $34,000.

This ultimately failed to occur, with upside entering during United States trading hours.

“Zooming out, this is the most bullish U.S. has been on Bitcoin since early 2022. Asia price…

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The United States securities regulator chief has hinted he would be open to a rebooted crypto exchange FTX — as long as its new leadership stays within the bounds of the law.

SEC Chair Gary Gensler’s comments were made in response to reports that Tom Farley, a former president of the New York Stock Exchange, is now in the running to buy the bankrupt cryptocurrency exchange founded by now-convicted fraudster Sam Bankman-Fried.

“If Tom or anybody else wanted to be in this field, I would say, ‘Do it within the law,’” Gensler said in an interview at DC Fintech Week on Nov. 8, according to CNBC. He added:

“Build the trust of investors in what you’re doing and ensure that… Read more on Cointelegraph

Australian crypto exchange CoinSpot has reportedly been hacked for $2.4 million in a “probable private key compromise” over at least one of its hot wallets.

According to a Nov. 8 post to his Telegram channel, blockchain sleuth ZachXBT highlighted two transactions entering the alleged hackers wallet. Afterwards, the wallet’s owner bridged the funds to the Bitcoin (BTC) network via ThorChain and Wan Bridge.

In emailed comments to Cointelegraph, blockchain security firm CertiK said the alleged exploit was the result of a “probable private key compromise” on at least one CoinSpot hot wallet.

According to data from Etherscan, a transaction totalling 1,262 Ether (ETH) — worth $2.4…

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Economist Nouriel Roubini popularly known as Dr Doom, long known for his critical stance towards cryptocurrencies, has made a sudden pivot by unveiling his own cryptocurrency. This surprising turn of events has stirred controversy, with Binance co-founder and CEO Changpeng Zhao expressing his disapproval.

What Happened: Roubini, who once labeled Bitcoin as a “shitcoin,” belittled Ethereum, and dismissed blockchain technology as no more than a spreadsheet, has now ventured into the world of cryptocurrency with his latest project. However, this unexpected move has not been well received by Zhao.

Roubini’s has ventured into launching a stablecoin.  According to the project’s website,…

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Crypto exchange Gemini newly announced measures to comply with the controversial crypto Travel Rule in the United Kingdom reflects a “worrying creep” toward overregulation and will strip customers of their freedom for self-custody, according to a Trezor analyst.

On Nov. 7, cryptocurrency exchange Gemini announced it has made changes in order to comply with the new Travel Rule restrictions for customers in the U.K.

Gemini said it will restrict outward cryptocurrency transfers to a list of 58 virtual asset service providers (VASPs) registered under the Travel Rule Universal Solution Technology (TRUST) starting on Nov. 17.

Gemini’s statement on the new Travel Rule restriction. Source:… Read more on Cointelegraph

Bitcoin and ether remained in positive territory on Wednesday afternoon, while altcoins sustained their dominance. Analysts suggest this may signal the onset of a period marked by a heightened appetite for risk.

Polygon (MATIC) and Chainlink (LINK) posted double digit gains Wednesday. Solana, which had previously been leading the rally, slowed to lose around 0.7% over the week. SOL remains up more than 85% over the past 30 days. 

Leverage is up, analysts say, meaning traders are once again borrowing to make their investments. Binance this week launched a Tether earn product, promising lenders 13% annual percentage yields. 

GMX with Arbitrum DAO on Wednesday launched an incentive…

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