OG Whales Dump More 📉, Only BTC Reserve Could Save US 🇺🇸, US Hits North Korean Launderers 🇰🇵

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Now for today’s Top Stories:

• 📉 OG Bitcoin Whales Dump $41B as as Extreme Fear Grips Markets

• 🏛️ Lummis Says Bitcoin Reserve Only Solution to US Debt Crisis

• 🇰🇵 US Sanctions North Korean Crypto Laundering Network Worth $3B

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Nov 5, 2025

TODAY’S TOP STORIES

📉 OG Bitcoin Whales Dump $41B as as Extreme Fear Grips Markets

Long-term Bitcoin holders just liquidated $41.6B worth of BTC as the price briefly dropped below $100K for the first time since June. Mining profitability has hit record lows with electricity consuming up to 60% of expenses, forcing miners to sell holdings. The drop follows massive Exchange Traded Fund outflows exceeding $1.8B and mounting macro headwinds, including Federal Reserve hawkishness. Raoul Pal however expects Treasury spending of $250B-350B once the shutdown ends, while Arthur Hayes predicts stealth quantitative easing through repo facilities. All in all, maximum fear equals maximum opportunity. BeInCrypto

🏛️ Lummis Says Bitcoin Reserve Only Solution to US Debt Crisis

Senator Cynthia Lummis champions a Strategic Bitcoin Reserve as the sole meaningful solution to America's ballooning national debt, praising Trump's administration for embracing the concept. Officials are exploring funding structures beyond gold revaluation, with Treasury Secretary Scott Bessent reviewing options. The reserve would start with over 130,000 BTC from criminal forfeitures, worth $34B, using budget-neutral strategies to avoid new taxpayer costs while diversifying sovereign assets. Cryptonews

🇰🇵 US Sanctions North Korean Crypto Laundering Network Worth $3B

The US Treasury sanctioned 8 North Korean nationals and 2 companies for helping Pyongyang launder billions from cryptocurrency thefts to fund nuclear weapons programs. Among those targeted were bankers managing $5.3M in crypto for sanctioned First Credit Bank and IT workers using fake identities to earn freelance income abroad. North Korean hackers have stolen over $3B in crypto over three years, including a massive $1.5B theft from Bybit exchange using malware and social engineering tactics. DL News

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QUICK BITS

• Metaplanet borrows $100M loan by using its Bitcoin as collateral to buy more bitcoin.

• Standard Chartered launches Bitcoin custody services in Hong Kong for January 2026.

• David Sacks, President Trump's crypto and AI czar, positions crypto as 'the industry of the future' while advocating for regulatory clarity.

• Strategy files for 3.5M euro-denominated perpetual preferred stock shares to fund bitcoin acquisitions and operations.

• Lolli, a Bitcoin rewards platform, acquires Slice browser extension to consolidate the fragmented Bitcoin rewards space and enable users to earn BTC through both shopping and passive browsing activities.

• Lava, a bitcoin-backed lending platform, raises $200M in funding and launches Bitcoin Line of Credit offering competitive 5% interest rates for revolving credit lines.

• Miners face revenue squeeze as hashprice plummets to $43.1 per petahash amid BTC price correction and record mining difficulty, prompting pivot to becoming AI data centers.

• Sequans, a Paris-based IoT semiconductor provider, sells 970 BTC to cut its convertible debt by half.

• BlackRock launches iShares Bitcoin ETF on Australia's ASX in mid-November, offering regulated local exposure to BTC.

• Hut 8, a bitcoin mining company, enters the top 10 largest public bitcoin holders with 13,696 BTC worth $1.6B after growing its stockpile over 50% year-over-year through Q3 2025.

• Matador Technologies secures a $100M convertible facility from ATW Partners to accumulate Bitcoin holdings targeting 1% of total supply by 2027.

• LNBIG, a lightning network node operator, analyzes massive Bitcoin flows to exchanges, discovering that users leverage Boltz swaps and Lightning's privacy to fund Binance/OKX accounts while avoiding on-chain scrutiny.

• HIVE Digital Technologies, a bitcoin mining company, reaches 23 EH/s in mining capacity while also converting facilities into AI-ready data centers to support up to 36,000 GPUs by 2026.

• NIP Group, an Abu Dhabi-based company, expands Bitcoin mining capacity to 11.3 EH/s, becoming MENA's largest operator and generating approximately 160 BTC monthly.

• Calle, Cashu protocol developer, reveals a vulnerability in Nutshell mint that allowed free storage of images in databases due to unchecked witness sizes, highlighting ironic parallels to Bitcoin inscription debates.

• Swan Bitcoin launches its services in New York and offers buying, custody, and unlimited withdrawals to residents.

• Mining industry remains largely disengaged from ongoing spam filter controversy, with most miners and pools focusing on operations rather than technical debates unlike previous block size wars.

• Tenerife's Institute of Technology and Renewable Energies prepares to sell 97 bitcoins purchased for €10,000 in 2012 research project, now worth $10M after 1,000x price appreciation over 13 years.

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