US Treasury Secretary: Significant changes needed to NVIDIA's leadership

US Treasury Secretary Scott Bessent warned the Federal Reserve against further monetary policy tightening during an appearance on Fox News.

US Senator Cynthia Lummis, one of the lead drafters of the CLARITY Act, posted a statement saying that Democrats had called for establishing a mandatory SEC review mechanism, requiring crypto projects to submit relevant information and obtain SEC certification before offering products to the public. The CLARITY Act incorporated this requirement, but Democrats ultimately voted against the bill. Lummis argued that this means Democrats opposed measures aimed at protecting consumers.

Approximately 64,000 Bitcoin mining rigs were hijacked, with a combined hashrate of around 13 EH/s. Attackers redirected the rigs’ hashrate to the OCEAN mining pool and set the payout address to a Bitcoin wallet under their control. The attack reportedly began around 20:00 Central Time (10:00 Beijing Time) on November 14. OCEAN’s dashboard showed its hashrate spiking sharply in a short window, nearly hitting 50 EH/s before falling back to around 40 EH/s. Mining hosting provider CoreX Hosting was the first to issue an alert, noting some rigs were unauthorizedly switched to other pools. An affected mine operator said their entire facility was hijacked, pointing to Luxor’s Commander mining management software as a potential root cause of the security incident. Other operators reported similar unauthorized pool-switching incidents several days earlier, suggesting the attack may be more widespread. CoreX later stated the attack appeared to have concluded, with the hijacked hashrate dropping from 13 EH/s to roughly 100 PH/s. The attackers failed to mine any Bitcoin blocks during the hijacking, so they earned no block rewards. However, affected miners permanently lost the Bitcoin mining revenue they would have generated during the attack, as this hashrate time is irrecoverable. To date, the full scope of the incident and whether Luxor Commander was compromised have not been independently verified.

German customs may soon gain a new authority: even without initiating criminal proceedings, it can seize cryptocurrencies if there is sufficient reason to suspect their illegal origin. The German Bundestag passed the relevant reform bill on November 12, targeting large-value assets, especially those worth more than 100,000 euros. The bill is set to take effect on January 1, 2027, but still requires approval from the Bundesrat and formal promulgation. Aimed at strengthening customs' law enforcement powers and its ability to combat financial crime, the bill establishes an administrative procedure allowing law enforcement to freeze assets based on concrete evidence of suspected illegal origin. Therefore, merely holding large amounts of Bitcoin is not sufficient grounds for asset seizure. The German government has explicitly stated that crypto assets fall within the bill's scope. The government believes this mechanism will help address the challenge law enforcement faces in tracing the origin of certain assets, as asset holders possess information that can explain the source of funds. However, a distinction must be made between temporary seizure and final confiscation; the latter still requires a ruling by the finance court.

Bitcoin treasury firm Strive CEO Matt Cole released a Bitcoin holdings chart, with the caption "Bitcoin is very cheap right now, we want to buy more", hinting that the company will disclose its BTC accumulation data next week.

According to on-chain analyst Ai Yi (@ai_9684xtpa), trader 58bro.eth appears to have cut losses on 6,914.08 ETH, with an estimated loss of $1.207 million. During the ETH price decline from November 13 to 14, the trader withdrew 10,500.57 ETH from OKX at an average price of $1,978.26, totaling $20.77 million. However, the price has continued to drop since then, and over the past 11 hours, the trader has deposited three batches of ETH worth $12.47 million into trading platforms. If sold, the assets would have shrunk by 8.82%, while the remaining holdings still show an unrealized loss of $522,000.