Crypto news today, 7 November 2026: the MEXC order and nine other stories

Crypto Eyes · 7 November 2026 · 14 min read · Markets

Bar chart of US spot bitcoin ETF net flows from 2 to 6 November 2026: outflows of $398.6M, $115.6M, $430.2M and $411.9M, and a $74.6M inflow on Wednesday

The biggest crypto story of Friday came from the US Treasury late in the day. FinCEN issued an order that, once in force, will bar US banks from sending money to MEXC or receiving money from it, over what the order counts as at least $16.7 billion of likely illicit activity. Spot bitcoin ETFs lost $411.9 million the same day and $1.28 billion over the week, their worst week since late June. Bitcoin itself hardly moved on Saturday and stood at $75,785 on Binance at 17:07 UTC. The Fear & Greed Index read 25, and bitcoin's weekly candle is on course for a fifth straight loss.

The ten stories, starting with the one that matters most:

FinCEN moved to cut MEXC off from US banks
Bitcoin ETFs had their worst week since June
Why is crypto down today? Bitcoin is heading for a fifth red week
The Binance hackers now hold about 2,300 new bitcoin
Keplr paused Google and Apple logins after unauthorized transactions
OFAC sanctioned eight Canadian money businesses over Iran
Sixty-seven companies have told OKXICE to leave their shares alone
Stablecoin supply has fallen eight days in a row
Large bets landed an hour before a Nebraska poll
Harmony's ONE kept rallying on a second day of futures spikes

1. FinCEN moved to cut MEXC off from US banks

FinCEN's order, issued on Friday under section 9714(a) of the Combating Russian Money Laundering Act, finds MEXC Global to be of primary money laundering concern in connection with Russian illicit finance. Covered US financial institutions will be barred from any transmittal of funds to or from MEXC, crypto transfers included. The ban starts 30 days after the order appears in the Federal Register, and by 17:00 UTC on Saturday it hadn't. The Block first reported the order at 21:02 UTC on Friday. Treasury filed it under a campaign it calls Operation Economic Outcast.

The order counts at least $16.7 billion of likely illicit activity through MEXC between May 2021 and May 2026, and Treasury's press release rounds that down to $16 billion. Nearly $1.5 billion of it is tied to evading Russia sanctions, including $232 million dealt directly with sanctioned entities. FinCEN lists about $129 million with the sanctioned exchange Garantex and $4.1 million with Grinex, at least $26 million with A7 and almost $200 million in A7A5, a ruble-backed stablecoin, with some of those dealings as recent as June 2026. Iran exposure tops $1.87 billion, about $1 billion of it with more than 40 Iranian exchangers. Flows tied to cyber actors come to at least $1.99 billion, and more than $37.9 million of that was suspected ransomware.

OFAC hasn't sanctioned MEXC. This is a FinCEN measure, and MEXC's chief executive Vugar Usi said it does not freeze assets. The exchange says it is operating normally and has started an independent review of its anti-money-laundering and sanctions controls. Usi said withdrawals had gone up but stayed orderly. DefiLlama's count of assets held on MEXC fell from $4.48 billion at 00:00 UTC on Friday to $4.26 billion at 15:19 UTC on Saturday, and DefiLlama's figure moves with coin prices as well as with withdrawals. CryptoSlate put net outflows at $126 million, a number we couldn't confirm from a second source. Our crypto whale tracker watches swaps on decentralized exchanges, so money leaving a centralized exchange like MEXC doesn't show up in it.

Bitget Wallet said its bank-card top-up won't accept funds it identifies as coming from MEXC. ChainCatcher relayed user reports of reviews or delayed credits on MEXC deposits at OKX, Binance and Gate, though none of those exchanges has announced a policy.

2. Bitcoin ETFs had their worst week since June

Another $411.9 million left US spot bitcoin ETFs on Friday, Farside's figures show, after $430.2 million on Thursday. BlackRock's IBIT lost $403 million of that by itself, its sixth outflow session running. Fidelity's FBTC took in $42.8 million and was the only fund with money coming in. Bitwise's BITB lost $20.5 million, ARK's ARKB $20.1 million and Grayscale's GBTC $11.1 million.

From Monday to Friday the funds lost $1.28 billion. SoSoValue counted $203 million out the week before, so this week's outflow was more than six times as large, and The Block called it the worst week since late June. IBIT accounted for $1.21 billion of the outflows, while FBTC gained $93 million over the five days. By SoSoValue's count the funds had taken in a net $368 million in 2026 before Monday. After this week they are about $914 million down for the year.

SoSoValue puts the funds' total net assets at $95.9 billion, 6.28% of bitcoin's market value, and their cumulative net inflow since launch at $55.7 billion. IBIT alone held $60.7 billion, according to iShares.

Ether ETFs lost $93.3 million on Friday, $90.8 million of it from BlackRock's ETHA, and $365.2 million over the week. Put together, bitcoin and ether funds lost about $1.65 billion in five trading days. The solana funds BSOL and GSOL lost $14.4 million and $5.4 million on Friday on SoSoValue's figures, and TokenPost reported no net flow for the XRP funds.

3. Why is crypto down today? Bitcoin is heading for a fifth red week

On the day, it barely is. At 17:07 UTC on Saturday bitcoin was at $75,785 on Binance, down 0.32% over 24 hours, in a range of $75,508 to $76,250. Ether was flat at $2,234.76 and solana was down 1.1% at $89.61. XRP fell 2.9% to $1.1604. On Binance spot, 10 of the 39 USDT pairs with at least $5 million traded were up.

Binance's weekly bitcoin candle is down 3.28% since Monday's open. If that holds to Sunday's close it will be the fifth losing week in a row, after the weeks that started on 5, 12, 19 and 26 October. CoinDesk senior analyst James Van Straten pointed out that only two runs have been longer: six weeks at the start of this year (the weeks of 19 January to 23 February on Binance's candles) and nine weeks in 2022. The Crypto Fear & Greed Index read 25 on Saturday, which counts as extreme fear. It was 28 on Friday and 50 on Thursday.

Wall Street bounced on Friday and crypto didn't go with it. The Nasdaq rose 1.09% to 24,579.42, and at one point in the session it was up 2%, a day after a fall that UPI said pushed it into correction territory. AMD gained 11%, Intel 7.7% and Nvidia 2.8%. The S&P 500 added 0.31% and the Dow fell 0.46%. Over the week the S&P lost 2.7%, its biggest weekly drop since early April 2025, and the Nasdaq lost 3.4%. Bitcoin's Friday candle on Binance opened at $76,088 and closed at $75,844, with a low of $74,888 in between.

Liquidations have dried up. CoinGlass data relayed by PANews and ChainCatcher put the 24-hour total on Saturday at between $72 million and $81 million, compared with more than $1 billion in the Thursday and Friday selloff by Investing.com's count.

4. The Binance hackers now hold about 2,300 new bitcoin

Elliptic updated its tracking of the $6.43 billion Binance hack with data to 08:00 UTC on Saturday. The attackers now hold about 2,300 BTC, roughly $175 million, in new addresses, up from 1,650 BTC on Friday. That bitcoin comes from swapping other stolen tokens. About 44 million XRP ($51 million) left overnight, mostly through THORChain into bitcoin, and about 148 million XRP ($173 million) hasn't been swapped yet.

Roughly 53 BTC went into coinjoins overnight, which brings the total sent through that mixing method to 88 BTC ($6.7 million). About 412,000 NEAR ($1.5 million) moved too. The main bitcoin and ether holdings from the theft haven't been touched. Elliptic still counts $2.85 billion frozen or seized and about $3.13 billion sitting in linked addresses.

Arkham's figures, cited by Bitcoin.com, put the attacker's main bitcoin balance at 18,384.7 BTC, against the 18,270.2 BTC drained on 29 October. Bitcoin.com found no matching 2,300 BTC rise in Arkham's figure, and Elliptic places the 2,300 BTC in newly created addresses outside that original stash, which would account for the gap. Binance's target for reopening HYPE, INJ, APT, PLASMA, NEAR and LTC withdrawals is still late next week, and there was no new recovery update on Saturday.

5. Keplr paused Google and Apple logins after unauthorized transactions

Keplr, a wallet for Cosmos-based chains, said around 04:00 UTC on Saturday that some accounts set up with Google or Apple login had shown unauthorized transactions. Its first assessment found accounts backed by a recovery phrase or a hardware wallet unaffected. Keplr paused both login options and told users to stop sending funds to those accounts. It also warned them against direct messages offering to recover the accounts.

About seven hours before that, at 21:13 UTC on Friday, Web3Auth posted that a security issue had affected services used by some third parties. It paused its embedded wallet service and put its login service into maintenance, and said it had found no evidence that MetaMask users were affected. Consensys, the company behind MetaMask, bought Web3Auth in 2025.

Keplr co-founder Josh Lee said Keplr's own code wasn't hacked and that the team is working with Web3Auth and MetaMask to trace the affected accounts and recover assets. He estimated that about 20% of Google and Apple login accounts were affected and that only a fraction of those were drained. His numbers are preliminary, and neither company has published a root cause or a loss total.

Keplr's warning about recovery offers in direct messages applies on Telegram too. Our list of channels for crypto trading signals on Telegram flags the official ones.

6. OFAC sanctioned eight Canadian money businesses over Iran

OFAC designated eight money services businesses based in Canada on Friday under Executive Order 13902, working with FinCEN, Canada's FINTRAC and the DEA. Treasury says they exchanged Iranian rials and other currencies for crypto and dealt with Iranian exchanges such as Nobitex, Wallex, Ramzinex, Bitpin, Aban Tether and Shelbit.

For some of the eight, Treasury's release goes further. Addresses linked to Diverse Trade Inc., which trades as Million Exchange, sent funds to addresses associated with Iran's Revolutionary Guard, and CCC Inc received funds from addresses tied to terrorism. Million Exchange and Amin Exchange laundered drug proceeds for Ryan Wedding, a sanctioned Canadian trafficker who was arrested in January and is now in US custody. Treasury Secretary Scott Bessent said Canada can't be a "safe haven" for firms that help others evade sanctions.

The rest of the list is Top PC Technician Inc, NIA Nations Currency Ltd, Farah Exchange, B Galaxy Inc (trading as Cryptoyal) and Darvish Exchange. OFAC published TRX addresses for four of the eight.

7. Sixty-seven companies have told OKXICE to leave their shares alone

OKXICE, the tokenized-stock venue set up by OKX and ICE, publishes the companies whose shares it plans to tokenize, and those companies can object. CoinDesk counted 67 objections by Friday afternoon, including 56 of the 62 companies the venue first picked, about 90% of them. The other 11 objectors weren't on the original list. A notice dated 5 November added Meta, Palantir, S&P Global, KLA and Super Micro. Apple, Home Depot, GE Vernova, Nebius, Boeing and ServiceNow had objected earlier.

The ones that haven't objected are mostly crypto firms: Strategy, Coinbase, Circle, Robinhood, Securitize and BitGo. Coinbase chief executive Brian Armstrong posted on X on Friday that he supports tokenizing Coinbase stock because he wants more people to own it. An objection only keeps a stock off this one venue. Issuers get 30 days to object, and the venue publishes objections within five business days.

8. Stablecoin supply has fallen eight days in a row

The supply of dollar-pegged stablecoins has dropped every day since 30 October, DefiLlama's data shows. It was $299.70 billion that day, $293.73 billion on Friday and $292.27 billion during Saturday. Tether's USDT is down $3.09 billion over the week to $176.78 billion, and Circle's USDC is down about $1.2 billion to $70.68 billion. Ethena's USDe went the other way, rising from $4.56 billion to $4.92 billion in a single day.

Supply falls when holders hand coins back to the issuer for dollars. The data doesn't say who did that this week, and we found no issuer or analyst giving a reason.

9. Large bets landed an hour before a Nebraska poll

The New York Times reported on Friday that researchers at Vanderbilt, Brett Goldstein among them, had flagged Polymarket bets placed just before polls came out. On 31 October nearly $200,000 went on Senator Pete Ricketts winning re-election in Nebraska, about an hour before a Times/Siena poll showed him leading Dan Osborn 49% to 43%. Those bets won more than $77,000. Similar large bets turned up on Kalshi.

Polymarket said it is investigating, and Kalshi declined to comment. Nobody has shown that the bettors saw the poll early, and so far the evidence is the timing. Our roundup for 6 November covers the CFTC's new demand on exchanges such as Kalshi and Polymarket.

10. Harmony's ONE kept rallying on a second day of futures spikes

Harmony's ONE rose 69.7% on Binance futures on Friday's UTC day, on $163 million of trading, and kept climbing. By 17:07 UTC on Saturday it was up 38.3% over 24 hours on $515 million. Our crypto volume spike scanner had its futures volume over the last day at 6.9 times the usual pace. Harmony is moving ONE to Ethereum as an ERC-20 token. InteractiveCrypto's French edition put the rally down to speculation and hype around that migration, citing an unnamed analyst's comment from 1 November, and its English edition found no Harmony announcement behind the move. Binance delisted ONE for users in Brazil on 27 October.

Two tokens beat ONE among the crypto gainers today on Binance futures. MEET48's IDOL was up 45.9% over 24 hours on $270.5 million and Akedo's AKE 42% on $440.7 million. AIN, which lost 61.2% on Friday, has won back more than 40% on Saturday. Two names from yesterday's roundup went into reverse. UnifAI's UAI was down 36.3% over 24 hours after a 50.1% gain on Friday's candle, and CYBER, which was up 49% over 24 hours on Friday evening, was down 14.4%.

Also on Friday

Gnosis Pay disclosed a card data breach. Gnosis Pay said on Friday that the legacy system behind its Gnosis Pay-branded cards, which Monavate issues, had been breached. It found the breach on 3 November and began containing it within two hours. The company says no funds were affected, and 3D Secure checks are mandatory until the old system shuts down on 20 December. Its own post mentions only "certain customer information". Customer notices seen by Cointelegraph list card numbers, CVVs and addresses among the exposed data.

Dates to watch

Monday 9 November: the withdrawal of the $250 travel rule plan takes effect on publication, and the $3,000 threshold stays.
End of next week, around 13 November: Binance's target for reopening HYPE, INJ, APT, PLASMA, NEAR and LTC withdrawals.
30 November: holders of about $1 billion in Trump Media notes can ask for their money back (see our 6 November roundup).
20 December: Gnosis Pay switches off its legacy card system.
Not yet set: the MEXC ban starts 30 days after FinCEN's order is published in the Federal Register.

How this roundup was put together

All coin prices and volumes were read from Binance's public API at 17:07 UTC on 7 November; where a figure is from another time, the text gives it. Daily and weekly changes are Binance candles, and the 6.9x volume figure for ONE is our scanner's. ETF flows are Farside's except where SoSoValue or iShares is named. Every filing and article we drew on is in the source list.

For the bitcoin price today, open our board of live crypto prices. Sorted by turnover, the crypto screener doubles as a crypto volume tracker, and its real time crypto prices come from the same feeds. The crypto market today page puts Saturday's session in one place, and the crypto market cap comparison tool can tell you what ONE would be worth at XRP's market cap. This is news and market data, not financial advice.

Sources

bitcoin etf flows regulation security market data stablecoins