Category: Business

• Ethereum price dropped 10% to near $2,600 as cryptocurrencies plummeted.
• The altcoin’s dip came amid over $400 million in 24-hour ETH liquidations.
• Despite price declines, Bitmine is using the dip to buy more ETH.

The cryptocurrency market is facing its bleakest downturn since October, with the price of Ethereum (ETH) plummeting below $2,700 as sell-off intensifies.

On November 21, 2025, investor concerns regarding the broader market correction pushed Bitcoin to new multi-month lows, and ETH to lows last seen in July.

Amid the volatility, liquidation pressures mounted, and analysts were pointing to a potential bearish flip across major digital assets.

Now analysts say Bitcoin could dip to $80,000 next.

Ethereum price tanks below $2,700

Ethereum’s price fell sharply on Friday, Nov 21, with bears extending 24-hour losses to over 10%. The top altcoin dropped from highs of $3,039 to lows of $2,660.

Losses mounted as the global risk asset market witnessed fresh jitters.

Ethereum’s dip occurred amid a notable $400 million worth of leveraged ETH positions being liquidated.

Facing wipeout were predominantly long positions, with about $374 million of these rekt in the period.

Global liquidation stood at nearly $2 billion, with Bitcoin (BTC) leading as over $940 million in bets drained off.

The downturn also showed in the ongoing outflows from cryptocurrency investment products, where both spot Bitcoin and Ethereum ETFs have recorded consecutive net outflows.

On Nov. 20, Bitcoin spot ETFs lost $903 million, while Ethereum spot ETF outflows hit $262 million.

Notably, as BTC and ETH shed capital, Solana spot ETFs saw over $23.6 million in net inflows.

Losing the $2,800 support level and dropping to lows near $2,600 means further weakness is likely should bulls fail to initiate a swift bounce.

Crypto analyst Ted suggests the next level to watch could be $2,500.

$ETH has lost its $2,800 support level.

Ethereum just dropped to the $2,650 zone and is now trying to recover.

If ETH doesn’t reclaim the $2,800 level soon, expect a drop towards the $2,500 level. pic.twitter.com/uveWA7HS1g

— Ted (@TedPillows) November 21, 2025

BitMine buys the ETH dip

As stocks reacted lower on Thursday, Bitcoin gave up its support near $92,000.

On Friday morning, BTC fell to lows of $82,002 across major exchanges.

The BTC slump coincides with a challenging global economic landscape, which analysts say could accelerate bears’ dominance.

Notably, the markets are reacting to sentiment around US interest rate cuts and Japan’s stimulus package.

Ethereum’s price dip reflects overall waning investor confidence. But as prices dropped, Bitmine, the largest ETH treasury company, has added to its balance sheet.

The Nasdaq-listed company said it purchased an additional 17,242 ETH worth $44.46 million on November 20.

More ETH brings BitMine’s total holdings to approximately 3.62 million ETH.

Tom Lee(@fundstrat)’s #Bitmine bought another 17,242 $ETH ($44.46M) today, and now holds ~3,623,002 $ETH($10.4B).https://t.co/Qyr9SBlVbIhttps://t.co/pXi4cUe0OG pic.twitter.com/ENKqzH8g17

— Lookonchain (@lookonchain) November 21, 2025

The continued buying by Bitmine, despite price declines, highlights a divergence between market sentiment and institutional strategy.

Bitmine’s move adds to the vote of confidence in Ethereum’s long-term potential.

However, crypto insights firm 10x Research said that BitMine Immersion Technologies is sitting on multi-billion-dollar paper losses following the recent market correction that has pushed ETH to multi-month lows.

According to the report, “Bitmine is now down more than $1,000 per ETH, implying about $3.7 billion in unrealized losses before even accounting for the hefty NAV premium public-market investors paid on top.”

10x Research added that treasury companies are likely to face difficulties attracting new retail investors in the current environment, as existing shareholders are already sitting on billions of dollars in losses.

• Two men were arrested during searches in London and near Bradford.
• Basis Markets raised at least $28 million from investors in 2021.
• Investors received valueless NFTs and tokens during the fundraising rounds.

UK authorities have opened a wide-scale criminal investigation into Basis Markets, bringing new attention to a failed crypto project that raised millions during the height of digital asset enthusiasm.

The Serious Fraud Office revealed on 20 November that it has begun examining how the project operated, how retail investors were drawn in with promises of low-risk arbitrage returns, and how at least $28 million disappeared following two fundraising rounds in 2021.

The renewed scrutiny arrives after years of silence and reflects growing concern over unregistered crypto schemes that expanded rapidly during the 2021 boom before collapsing without clear explanations.

Raids conducted in London and West Yorkshire

SFO investigators, alongside local police officers, carried out coordinated raids in London and West Yorkshire earlier in the day.

Two men—one in his 30s and another in his 40s—were detained on suspicion of multiple fraud and money-laundering offences.

The SFO said the arrests mark a significant step in its inquiry into the scheme, which it described as a “suspected fraudulent operation” rather than a registered company.

According to the agency, Basis Markets raised roughly $28 million (£21.4 million) through two public fundraisers held in November and December 2021.

Investors purchased non-fungible tokens (NFTs) that were marketed as a means of seeding a crypto hedge fund.

The money was allegedly intended to support the creation and operation of this fund.

However, by June 2022—six months after the capital raise—investors were reportedly informed that the project could no longer move forward due to proposed new US regulations.

The SFO’s investigation is expected to focus on the legitimacy of this explanation and what ultimately happened to the funds collected from investors.

Concerns over investor losses and regulatory explanations

The SFO said it is not yet able to provide further details on the nature of the regulatory concerns cited by the project’s operators.

Investigators are examining whether the statement about US regulatory changes was used as a pretext to halt operations and whether funds were improperly handled or diverted.

This case highlights the growing scrutiny facing crypto fundraising activities, particularly those involving NFTs and promises of high-yield investment vehicles such as hedge funds.

The collapse of Basis Markets adds to a string of high-profile cases in which retail investors have suffered losses amid insufficient transparency and minimal formal oversight.

Authorities have appealed for anyone who invested in or has knowledge of Basis Markets to come forward to assist the inquiry.

The SFO emphasized that tracking the flow of investor money will be central to determining whether fraudulent activity occurred.

SFO expands crypto capabilities amid rising enforcement needs

The launch of this investigation comes as the SFO moves to strengthen its capabilities in digital asset enforcement.

Earlier this year, the agency secured more than £8 million in additional funding over three years to support its ability to track, analyse, and recover crypto assets across jurisdictions.

SFO Director Nick Ephgrave said the agency is committed to pursuing individuals who misuse cryptocurrency to defraud the public.

“With our expanding cryptocurrency capability and growing expertise in this area, we are determined to pursue anyone who would seek to use cryptocurrency to defraud investors,” he said.

Ephgrave added that Thursday’s action represents an important milestone in the investigation and urged affected investors and potential witnesses to support the inquiry.

As the SFO deepens its work in digital asset enforcement, the Basis Markets case could become a key test of how the UK’s fraud authorities handle complex crypto-linked financial misconduct in an evolving regulatory landscape.

• IOTA Foundation and African trade project partner to boost digital trade architecture.
• Per an announcement, the integration eyes blockchain technology adoption in Africa’s trade landscape.
• The development could help bolster IOTA’s price performance.

IOTA has secured a significant lift on the adoption front following the African Continental Free Trade Area’s launch of the Africa Digital Trade Access and Public Infrastructure Initiative.

With the program now underway, IOTA co-founder Dominik Schiener said the development could mark the start of a major turning point for the decentralized network.

On Thursday, November 20, 2025, the IOTA price traded at $0.12, a slight increase in the past 24 hours as the broader market battles continued downward pressure.

IOTA to power Africa’s digital trade architecture

This week, the AfCFTA launched the ADAPT program, which it says is set to transform Africa’s trade landscape.

Notably, the project seeks to establish a unified digital backbone for identity, data, and financial transactions.

IOTA’s blockchain platform will power this pilot.

According to AfCFTA, IOTA will play a pivotal role, with the ADAPT program set to tap into decentralized ledger technology to provide the foundation for seamless, interoperable cross-border payments and digitised trade documents.

AfCFTA Secretary-General Wamkele Mene said:

“This is Africa’s blueprint for the digitisation and modernisation of trade: a system that replaces fragmentation with integration, friction with trust, and inefficiency with scale.”

Initially, the target is programs across Kenya and Ghana, before expanding to the whole continent by 2035.

This ambitious rollout is expected to integrate stablecoin-based settlements and tokenized assets, all powered by IOTA.

A new era of African trade is unfolding.
“With ADAPT, we’re demonstrating how decentralized infrastructure can serve governments and businesses alike, creating a foundation for cross-border collaboration that’s efficient, secure, and future-proof” @DomSchiener pic.twitter.com/BGiePLLZEe

— IOTA (@iota) November 20, 2025

According to IOTA Foundation chair Dominik Schiener, the partnership is a big move for real-world assets for IOTA.

Commenting via X, Schiener noted:

“Being selected as a partner for ADAPT means that we are bringing our original vision to reality. It is an incredible opportunity to be part of creating the digital infrastructure that will connect an entire continent.”

Schiener added that the ADAPT initiative validates IOTA’s long-term strategy, with upcoming use cases including cross-border payments, tokenized critical minerals, and digital identities.

The comments highlight IOTA’s potential, with growth allowing for traction amid global adoption.

IOTA price outlook

The IOTA token has been in a downtrend since May 2021, when the token fell from highs of $2.10.

However, despite recent price fluctuations, the altcoin remains above the all-time lows below $0.10 reached in March 2020.

Over the past month, IOTA has experienced a 24% decline, and it’s down 14% in the past week.

While short-term price movements remain uncertain, the long-term implications for IOTA’s adoption and valuation are largely positive.

• The trust was formed on Nov. 19 under the Securities Act of 1933.
• A Form S-1 filing with the SEC would be required before the product launches.
• ETHA, BlackRock’s spot Ethereum ETF, has more than $13 billion in inflows.

BlackRock has taken another step toward a staking-focused Ethereum ETF by setting up a new statutory trust in Delaware, signalling fresh movement in the fast-growing market for yield-generating crypto products.

The trust, called the iShares Staked Ethereum Trust ETF, was officially formed on Nov. 19, according to state records.

While the filing does not include product documents, it adds to a broader industry shift toward staking features within regulated ETFs.

The move positions BlackRock to explore yield-bearing structures as competitors such as Grayscale, Fidelity, 21Shares, Franklin Templeton, and REX-Osprey advance their own staking plans across major digital asset funds.

Delaware trust expands BlackRock’s Ethereum plans

The new trust was registered under the Securities Act of 1933, which requires full disclosures before any product reaches investors.

This registration serves as a preliminary step rather than a full submission to the US Securities and Exchange Commission.

To move forward, BlackRock would still need to file a Form S-1, but the firm has not provided a timeline.

Delaware continues to be a popular state for early-stage ETF setup because of its regulatory structure, and BlackRock has often used the same route when preparing digital asset products.

Link to BlackRock’s Ethereum ETF strategy

The trust now sits alongside ETHA, the firm’s spot Ethereum ETF that launched in July 2024.

ETHA has attracted more than $13 billion in inflows and currently does not stake its holdings.

Nasdaq filed a Form 19b-4 in July 2025 to allow ETHA to stake ETH with approved validators.

If approved, that update would introduce staking rewards while also requiring detailed disclosures about custody arrangements, slashing risks, validator selection, and the handling of locked ETH.

Staking rewards on Ethereum generally range between 3% and 5% each year, and issuers must explain how they will track, calculate, and distribute those rewards.

Growth in staking-focused ETFs

BlackRock’s move comes as the broader ETF market accelerates toward staking-enabled products.

Grayscale received approval in October 2025 to introduce staking within ETHE and its Mini Trust ETF, making them the first Ethereum funds under the 1933 Act permitted to earn staking rewards.

Other issuers, including Fidelity, 21Shares, Franklin Templeton, and REX-Osprey, have also submitted similar filings.

REX-Osprey already operates a staked Solana ETF and launched a staked Ethereum version in September.

BlackRock’s digital assets head Robert Mitchnick said staking features across ETFs could attract between $10 and $20 billion by mid-2026.

Experts now expect the next catalyst to be BlackRock’s potential S-1 submission, which would move the new trust closer to becoming a yield-bearing Ethereum ETF.

Rising market interest in Ethereum staking

ETF analysts say expanding staking options could lock a significant amount of ETH within regulated products, influencing liquidity and long-term supply.

The combination of new filings, updated fund structures, and rising capital inflows has set up a competitive race among issuers.

BlackRock’s new trust adds another step in that process, signalling how institutional demand for Ethereum staking continues to reshape the ETF landscape.

• Ripple’s XRP traded near $2.15 after latest price declines across cryptocurrencies.
• However, downward pressure remains amid a dip in supply in profit ratios.
• Breakout past $2.30 could allow bulls to aim for more gains, but waning speculative appetite limits action.

XRP price trades near $2.15 and in the red over the week as circulating supply in profit plummets to 58.5%.

This is the lowest level the metric has touched since November 2024 when the Ripple token traded under $1, with blockchain analytics platform Glassnode noting a structurally fragile market.

Dips for Bitcoin, Ethereum, and the broader altcoin market align with this XRP’s performance.

XRP supply in profit falls

According to analytics and research platform Glassnode, the strong downward pressure has XRP supply in profit tanking to around 58% – the lowest since November 2024.

That’s when the Ripple token traded near $0.53.

Losses in recent weeks have seen supply in loss rise significantly, with momentum buyers dominating and likely a source of sell-off pressure.

“Today, despite trading ~4× higher ($2.15), 41.5% of supply (~26.5B XRP) sits in loss- a clear sign of a top-heavy and structurally fragile market dominated by late buyers,” Glassnode wrote on X.

According to Glassnode, XRP distribution after profit realization since late September has been “into weakness, not strength.” But have bulls weathered the storm?

The launch of the XRP spot ETF and key partnerships have buoyed sentiment despite price declines.

On XRP spot ETFs, Bloomberg’s Eric Balchunas recently noted:

Congrats to $XRPC for $58m in Day One volume, the most of any ETF launched this year (out of 900), BARELY edging out $BSOL‘s $57m. The two of them are in league of own tho as 3rd place is over $20m away. pic.twitter.com/MjsOeceeNb

— Eric Balchunas (@EricBalchunas) November 13, 2025

XRP price forecast

Ripple (XRP) is trading around $2.15 at the time of writing on Wednesday as uncertainty across the crypto market continues.

While Bitcoin has bounced off lows of $89,500 and touched $93,000, the market is largely negative, with retail and institutional demand having faded in recent weeks.

Ripple’s token is down 1.6% in the past 24 hours as of writing.

The altcoin is also down nearly 12% in the past week, hovering largely near key support rather than at critical resistance.

This happens as risk-off sentiment cuts across the market, driven by macroeconomic jitters and panic selling.

From a technical perspective, the daily chart shows the relative strength index hovering near 38.

It’s downsloping to suggest potential declines, and any fresh weakness could derail bulls.

A similar outlook is observable with the moving average convergence divergence, which recently flashed a bearish crossover.

In addition, a dip in XRP open interest, with about $3.65 billion in OI being down from $4.11 billion, signals waning speculative fervor.

The weak derivatives outlook means traders are retreating onto the sidelines amid continued market uncertainty.

Therefore, the $2.10 and $2.00 areas mark key price levels.

On the upside, bulls face hurdles at $2.30 and $2.50 before the critical $3.00 mark comes into play.

• Dogecoin exchange-traded fund expected on November 24.
• LIBRA decouples as the team buys the Solana dip.
• Shibarium transactions soar 78%, reflecting renewed user activity.

Virtual currencies displayed bearishness today as Bitcoin eyes further dips below $90,000, with altcoins hinting at further declines.

This article highlights tokens stealing the show in the meme token landscape, specifically Dogecoin, LIBRA, and Shiba Inu.

Grayscale’s DOGE ETF nears launch

The original meme cryptocurrency remains on the crypto community’s radar as debates around Grayscale’s anticipated Dogecoin exchange-traded fund surge.

Bloomberg’s ETF analyst Eric Balchunas expects the product to launch on November 24, citing the SEC guidance. He said:

I believe Grayscale will be out with the first Doge ETF in a week, 11/24. We’ll see, won’t be 100% till exchange notice, but based on SEC guidance, it looks good.

Based on 20 day clock I believe Grayscale will be out with first Doge ETF in a week, 11/24. We’ll see, won’t be 100% till exchange notice, but based on SEC guidance it looks good. pic.twitter.com/mvlGsNyNVG

— Eric Balchunas (@EricBalchunas) November 17, 2025

An approval would mark a breakthrough for Dogecoin and the entire meme market.

While these assets often drive the broader cryptocurrency industry, they have faced increasing criticism as they are hype-driven without intrinsic value.

A Dogecoin ETF will magnify the digital token’s visibility and credibility.

Moreover, regulated use cases will catalyze stable growth for DOGE.

The community expects Grayscale’s Dogecoin exchange-traded fund to launch soon.

Altcoin ETFs have gained traction since Solana, Litecoin, and Hedera started the wave on October 28, with approvals now almost a guarantee.

DOGE is trading at $0.1585 after losing 1.20% and 10% in the past 24 hours and week, respectively.

LIBRA skyrockets 100%

While bears rattled the overall cryptocurrency market, LIBRA decoupled with an explosive 103% surge.

It is one of the few tokens with gains today.

The meme’s sharp jump emerged after revelations that the LIBRA team purchased Solana.

According to blockchain investigator Lookonchain, they spent 61.59 million USDC to purchase 456,393 SOL.

The accumulation signaled confidence in Solana’s performance after the alt dropped nearly 15% the previous week.

Therefore, LIBRA’s rally isn’t organic, and the 60% decline in 24-hour trading volume could testify to that.

The themed token will likely erase its gains in the coming sessions, unless trading activity resurges amid improved broader sentiments.

Shibarium transactions jump 78%

Shiba Inu’s L2 scaling solution Shibarium saw an uptick in transactions recently, signaling renewed user activity.

According to Shibariumscan data, the platform’s daily transactions increased from 2.43K on November 16 to 4.33K within 24 hours – a roughly 78% increase.

This comes after Shibarium experienced reduced activity in early last month, with 24-hour transactions plunging to 1,500 on November 5 – a whopping 88% dip from October 24 peaks.

While the layer 2 records notable recoveries, Shiba Inu’s price continued to underperform.

SHIB lost 10% of its value in the last seven days, now trading at $0.000008856.

The alt remained relatively stable in the past 24 hours, shedding 0.95%.

Its trading volume increased by 17% in that timeframe, indicating trader interest.

Meanwhile, broader sentiments continue to influence the performance of meme cryptos.

Selling pressure dominated the crypto landscape as “Extreme Fear” gripped the market.

Nevertheless, Fundstrat’s Tom Lee expects the market to bottom as soon as this week.

• The mobile application aims to compete with banks and leading fintech firms.
• Users will earn up to 9% annual interest with insurance protection on deposits of up to $1 million.
• Individuals can use stablecoins, bank accounts, or debit cards to fund accounts and enjoy 24/7 interest.

Aave Labs, the organization behind the lending protocol Aave, is shaking the industry of personal finance with its new savings app.

Introduced today, the Aave App aims to rival high-yield financial companies and traditional banks, offering users a chance to amplify earnings on their deposits without sacrificing security.

Most importantly, the innovative monetary application is offering annual interest rates of up to 9%.

Furthermore, Aave App boasts insurance protection for deposits up to $1,000,000, a staggering increase from the industry standard of $250,000.

Introducing Aave App, a smarter way to save. pic.twitter.com/HaseIjnWW5

— Aave (@aave) November 17, 2025

The soon-to-launch Aave App presents a lucrative alternative to savers looking beyond low yields from traditional banks.

The official website indicates:

Aave is introducing insurance-backed protection for Aave App customer balances, providing up to $1,000,000 in coverage per eligible customer once active, subject to maximum policy limits and conditions.

Convenient funding options

The Aave App prioritizes user-friendliness.

Individuals can use debit cards or linked bank accounts to fund their accounts, with more than 12,000 deposit options at their disposal.

While traditional funding methods have daily limits, stablecoin users enjoy unlimited transfers, guaranteeing heightened flexibility for crypto-native users.

Meanwhile, the combination of DeFi tools and traditional banking access reflects Aave’s commitment to merging the new and old financial worlds.

Blockchain investors can now enjoy higher returns and institutional-level security.

Interest accrues 24/7

One of the most lucrative functionalities of Aave’s mobile application is that interest amasses around the clock.

Moreover, the app has an initial base rate of 5% per year. Users can increase their earnings through various on-chain tasks.

Users will receive interest via the decentralized Aave lending protocol, which lends deposits to borrowers.

While such a lending approaches carry higher risks, Aave combines the returns with insurance protection.

That gives DeFi users peace of mind that the new finance world is promising.

Incentives beyond the interest

Aave encourages participation through various earning opportunities besides the base rate.

Users can magnify their returns by inviting family and friends to the app, completing KYC to verify identity, and automating deposits.

The lender tapped into a gamified approach to bolster adoption and maximize user returns.

The platform’s incentive model also reflects a difference between traditional banks and decentralized finance apps like Aave.

With blockchain, users can maximize their returns without exposing themselves to extra monetary risks.

AAVE price outlook

The protocol’s native token turned bullish after the Aave App updates.

It is trading at $175 after an over 3% increase on its daily chart.

The soaring 24-hour trading volume signals renewed optimism in AAVE.

While the altcoin eyes extended gains, deteriorated broader sentiments suggest short-lived uptrends for AAVE.

• Chainlink price broke below $14 on Monday and traded to lows of $13.45 amid a spike in volume.
• LINK shows weakness as a bearish setup forms on the daily chart.
• Bears could target $10.97 if weakness intensifies near $13.

Chainlink trades in a downward trend that mirrors the renewed selling pressure that has pushed Bitcoin below $95,000 and top altcoins into the red.

LINK, the native token of Chainlink, hovered near the psychologically important $13 mark as bulls struggled.

Notably, this comes after the token failed to sustain momentum after bulls hit highs above $27.80 in August.

Lately, a decline below $20 amid a 21% nosedive on October 10,2025 has seen LINK erase most of bulls managed since the July 2025 uptick. Price fell below $14 on Friday.

Could the broader caution cascading across the altcoin market allow for further price deterioration?

Chainlink extends decline to near $13

As of writing, Chainlink price has lost 13% over the past week. While bulls are near the $14, the token touched intraday lows of $13.45 on Monday.

One key observation is that Chainlink’s trading volume has remained elevated during the downturn.

This suggests conviction among sellers, who have pushed prices lower amid a symmetrical triangle pattern formation.

Accompanied by a sharp spike in volume, up 59% in 24 hours to over $837 million, LINK’s breakdowns mirror what typically happens amid fresh downside volatility.

In fact, as can be seen in the chart below, the altcoin’s daily price chart signals a potential death cross pattern.

What’s the Chainlink price outlook?

The technical outlook has key indicators flashing bearish signals, with the 50-day simple moving average (SMA) set to cross below the 200-day simple moving average.

Death crosses are lagging indicators, which means that while not entirely predictive in itself before confirming, their appearance has historically marked the beginning of an extended bearish phase.

For Chainlink, indications of downward pressure go beyond the death cross.

On the daily chart, the Relative Strength Index (RSI) has fallen below the neutral 50 level and is approaching oversold territory. RSI currently sits near 36/

Also strengthening downward pressure is the Moving Average Convergence Divergence (MACD). Currently, the histogram is negative, and the MACD line below the signal line points to strong bearish momentum.

From a price action perspective, the next major support cluster lies in the $11.77-$10.97 area.

Per the daily chart, this zone has previously acted as a strong demand in April and June 2025.

However, if Chainlink can defend the $13 psychological threshold, near-term projections could see bulls target an immediate major resistance mark near $15.55.

The level coincides with the previous golden cross pattern that saw bulls break out above $20 and hit highs of $27 in August.

Bullish, but a daily close below $13 means bears could have a path to a revisit of the multi-year support near $8.50.

• A Toronto outlet handed over $1,900.00 in cash using only a $5 bill for verification.
• Ukraine-based exchange 001k offered to deliver $1,000,000.00 in cash in Montreal.
• Over 20 crypto-to-cash services were found operating unregistered across Canada.

A report by CBC has revealed how Canada is witnessing the rise of unregulated crypto-to-cash services that enable large-scale anonymous financial transfers.

These operations not only bypass anti-money laundering laws but also establish an untraceable money trail that financial intelligence agencies are unable to track.

Across cities from Toronto to Montreal, crypto platforms are facilitating discreet cash handovers worth thousands and even millions, without requiring any identification from users.

Despite rules that demand full verification for transactions over $1,000.00, services continue to hand over cash using only minimal confirmation.

Experts have raised alarm over the role of these services in enabling potential money laundering, illicit trade, and financial crime.

Investigative efforts have now revealed how this silent financial movement is escaping oversight in plain sight.

Crypto-for-cash deals avoid ID checks

In one midtown Toronto branch of a registered money transfer business, a $1,900.00 cash pickup was arranged through encrypted messages using the Telegram app.

The only verification required was a photo of a Canadian $5 bill.

The customer, who had earlier transferred 2,000 tether tokens to Ukraine-based crypto exchange 001k, showed the physical bill and received $100 notes from the teller with no further questions.

Such transactions breach Canada’s anti-money laundering regulations, which require personal identification and transaction documentation for any transfer exceeding $1,000.

The company later claimed that the arrangement had been made by a rogue manager using personal funds off the official books.

The teller involved, they said, acted without knowledge of the transaction’s real nature.

001k is not registered with FINTRAC, the Canadian financial intelligence agency, and therefore is not legally permitted to conduct business with Canadians.

Yet the transaction went ahead and passed under the regulatory radar.

Platforms offer million-dollar handovers

The same pattern was uncovered in Montreal.

Journalists engaged in anonymous conversations with crypto services, including 001k and another unnamed provider.

Both offered to deliver $1,000,000.00 and $890,000.00 in cash, respectively, in exchange for tether sent to designated wallets.

No identification was asked for at any stage.

These platforms operate online, contactable via web directories and Telegram channels.

Many advertise in plain sight and offer face-to-face cash deals in locations ranging from Halifax to Vancouver.

According to experts, more than 20 such services were found in Canada, most operating without proper registration or regulatory checks.

Despite Canada’s attempt to regulate the sector through FINTRAC, enforcement remains limited.

The agency oversees over 2,600 registered money service businesses, but lacks the resources to track unregistered and underground operators.

A growing global laundering channel

Crypto analysis firm Crystal revealed to CBC that crypto-to-cash services in Hong Kong alone processed $2.5 billion in 2024.

Canada’s rapidly growing market could mirror that figure if enforcement continues to lag.

With the rise of digital tokens like Bitcoin, Ethereum, and Tether, it has become easier for money to move across borders and be converted into untraceable cash.

Law enforcement depends on access to user identity at the point where crypto enters or exits the system.

When transactions are carried out without registration, those points vanish, and the blockchain’s transparency becomes meaningless.

Investigators lose visibility once digital assets are converted into physical currency anonymously.

The flexibility of these services creates risk.

Anyone can now move large sums in or out of Canada without detection, including organised crime networks and individuals involved in illegal activity.

Without active compliance monitoring, these transactions take place without leaving any traceable connection.

Canada struggles to enforce crypto regulations

Canadian regulators are under-equipped to deal with the scale of the problem.

Crypto platforms can connect users in seconds, bypassing traditional financial systems and enabling instant access to large volumes of cash.

FINTRAC’s oversight is stretched, and its inability to track foreign operators or monitor encrypted platforms like Telegram leaves a major gap in financial security.

The use of small signals, like a $5 bill serial number, to validate multi-thousand-dollar exchanges highlights just how far removed these services are from compliance.

Unless significant regulatory action is taken, Canada could continue to serve as a silent hub for crypto cash transfers that avoid scrutiny, recordkeeping, and legal obligations.

• A savvy trader locks in over $2.5M on a Starknet long position opened three days ago.
• He has rotated to HYPE with a 10x long worth roughly $2.98M.
• Hyperliquid’s token could be poised for an upward move.

Smart money participants are celebrating profits despite the current broader bearish sentiments, which underpins Bitcoin around $95,000.

One trader is grabbing attention with his high-stakes leveraged bets.

According to on-chain tracker Lookonchain, the player has secured over $2.5 million in returns after a well-timed long on Starknet (STRK), executed three days ago.

Most interestingly, he has redirected attention to a new position, going long on Hyperliquid’s HYPE with a substantially higher leverage of 10x.

Smart trader 0xbbc0 opened a 5x long on 29.5M $STRK($6.7M) 3 days ago and is now sitting on over $2.5M in profit.

4 hours ago, he also opened a 10x long on 77,598 $HYPE($2.98M).https://t.co/pQAjmsQNjH pic.twitter.com/WQYjrNeJGL

— Lookonchain (@lookonchain) November 17, 2025

These back-to-back moves are coming as uncertainty engulfs the financial landscape, with most traders opting for wait-and-watch and caution.

Meanwhile, the latest trade has fueled optimism among HYPE holders, as it indicates confidence in the altcoin’s potential rally in the near term.

An STRK long that hit its target

Blockchain data shows the wallet opened a 5x long on 29.5M Starknet tokens, a position worth roughly $6.7 million, three days ago.

The player entered just as STRK began creating a short-term base.

The digital token has remained on the watchers’ radar lately due to ecosystem upgrades, a thriving staking marketplace, and uncertainty linked to overall market downsides.

900M STRK are now staked on Starknet.

That’s ~20% of the circulating supply, and a 100% increase in staked STRK since last quarter.

Acceleration. pic.twitter.com/3thNY1Hk2x

— Starknet (BTCFi arc) 🥷 (@Starknet) November 14, 2025

While many hesitated as fear crippled the cryptocurrency sector, the smart trader joined before the short-lived rally started, riding a clean uptrend.

His profit surpassed $2.5 million as Starknet extends its recovery, now up 30% the past seven days.

STRK is trading at $0.2104 after losing 8% the past 24 hours amid broader weakness and profit-taking after the latest surge.

HYPE set to rebound after POPCAT scandal?

Hours after the STRK returns emerged in trackers, the trader entered a new position – a long on 77,598 HYPE, worth approximately $3 million, with a significantly higher 10x leverage.

The timing drew attention.

Hyperliquid has been among the most-watched DEXs the past week, following POPCAT’s manipulation, which saw the platform temporarily halt withdrawals.

HYPE endured substantial bearishness following the event, losing more than 10% of its value in the past week.

With the wallet’s transaction becoming some sort of sentiment indicator, enthusiasts trust HYPE is poised for a rebound as the exchange’s manipulation debates settle.

Committing almost $2.98 million to a 10x long underscores the conviction of short-term uptrends amidst broader market struggles.

HYPE remained relatively stable the past 24 hours, losing only 1.40% to trade at $38.41.

Technical indicators display neutral conditions as HYPE eyes the next move.

The Moving Average Convergence Divergence remained relatively flat with the signal line on the 1-hour chart.

Also, the Relative Strength Index at 48 suggests indecisiveness.

For now, market players are watching to see whether the smart whale turns into a reliable signal.

If his history rhymes, HYPE could be poised for a near-term rebound.