Coinbase has ended negotiations to acquire UK fintech firm BVNK for approximately $2 billion, Fortune reported. The companies mutually agreed to discontinue discussions after months of talks. The collapsed deal highlights intensifying competition in stablecoin infrastructure among major payment firms including Visa, Mastercard, and Stripe.

Canary Capital submitted Form 8-A to the SEC, advancing its spot XRP exchange-traded fund toward a potential launch. The filing completes a regulatory step that could enable trading as soon as November 13, pending final Nasdaq approval. The move follows recent debuts of altcoin ETFs tracking Solana, Litecoin, and Hedera.

Bitcoin dropped 3% to $103,222 on Wednesday as investors took profits and uncertainty mounted over the Federal Reserve's December rate decision. The cryptocurrency briefly traded below $103,000 at around $102,600 earlier in the session. Traders are monitoring conflicting signals from Fed officials regarding a potential year-end rate cut, with the CME FedWatch Tool showing a 66.9% probability of a reduction at the December 9-10 meeting.

Fred Thiel, CEO of Marathon Digital Holdings, stated that Bitcoin mining is entering a challenging phase where only the most efficient operators with access to cheap power will remain viable. As network hashrate reaches record highs, profit margins are compressing industry-wide. According to Thiel, operational viability now depends primarily on securing low-cost energy sources as competition intensifies.

US-based Bitcoin exchange-traded funds recorded approximately $300 million in net inflows on Tuesday, ending a two-week period of net redemptions, according to SoSoValue data. Fidelity's FBTC led with $165.9 million, followed by Ark 21Shares' ARKB with $102.5 million. The shift indicates institutional investors are using recent price declines as accumulation opportunities.

Lighter, a Layer-2 decentralized exchange, has closed a $68 million funding round at a $1.5 billion valuation. Founders Fund and Ribbit Capital led the investment, with participation from Haun Ventures and Robinhood. The already-profitable platform plans to launch spot trading and pursue global expansion.

Canary Capital's spot XRP exchange-traded fund received automatic listing approval from Nasdaq on November 10 following an SEC Form 8-A filing. The ETF will trade under ticker symbol XRPC and charges a 0.50% management fee. Trading is expected to commence later this week pending a final CERT filing.

Bitcoin is consolidating near $103,000 following two major U.S. cryptocurrency developments. Bitwise launched the first U.S. Solana ETF on October 28, attracting $420 million in its debut week. SoFi Technologies became the first national bank to enable direct Bitcoin trading for 12.6 million users, marking a significant shift in mainstream crypto adoption.