The BSCN Debrief — The BSCN Debrief: a daily newsletter from BSC News, recapping the most important crypto stories of the past 24 hours, plus quick briefs on the day's top articles. — Page 4

Crypto CLARITY Act Unlikely to Pass After Democratic Midterm Wins

The Digital Asset Market Clarity Act has little chance of becoming law after Democrats secured both congressional chambers in November 3 midterm elections. The bill passed the House in July 2025 with 294 votes but fell short in September 2026 when a Senate procedural vote reached only 49, needing 60 to move forward. No Democrats supported advancing the measure, citing worries about reduced investor safeguards.

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Bitcoin ETF Outflows Hit $299.9M Led by BlackRock's IBIT

US spot Bitcoin exchange traded funds saw $299.9 million leave on November 11, with BlackRock's IBIT accounting for $269.7 million of that total. Grayscale's GBTC lost another $39.13 million. Morgan Stanley's MSBT was the sole fund attracting money, bringing in $8.96 million. The withdrawals mark five consecutive trading days of outflows.

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BSCN Debrief: CLARITY Act Faces Steeper Climb

Democrats' midterm sweep complicates crypto's flagship bill, BlackRock BUIDL hits $157M on Aptos, and the EBA takes direct USDC oversight. Here's what mattered.

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Circle's USDC Becomes First EU Stablecoin Under EBA Oversight

The European Banking Authority begins supervising Circle's USDC stablecoin on November 12, making it the first token to receive EU-level regulatory oversight under Markets in Crypto-Assets Regulation. The EBA will manage supervision of reserves, liquidity standards, and recovery plans, while France's ACPR retains authority over governance and compliance matters.

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Pyth Network Gains Authorization to Distribute NYSE Data

Pyth Network has been approved to distribute equities market data from the New York Stock Exchange through its Data Marketplace. The oracle network will deliver real-time top-of-book quotes and trades covering stocks listed across five exchange venues operated by NYSE Group, a unit of Intercontinental Exchange. Access requires direct licensing with NYSE, with Pyth serving as the delivery channel.

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Nihao Cat Tokens Jump on Solana After Trader Endorsement

Two memecoins themed around Nihao Cat have seen sharp price increases on Solana following attention from prominent trader Ansem. The MIHAO token climbed after Ansem changed his profile picture to the cat image on November 10 and called it his preferred meme token. Its market capitalization moved from $1.1 million to around $20 million before settling near $18.81 million.

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Pepe Gains Ground on Shiba Inu in Memecoin Rankings

Pepe's market capitalization reached approximately $2.11 billion as of November 11, trailing Shiba Inu's $2.61 billion by a ratio of 1.24 to 1. The frog-themed token would need to climb roughly 24% to 25% to surpass Shiba Inu, assuming the latter's value holds steady.

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TON Strategy Reports Q3 Staking Income Amid Token Value Drop

TON Strategy Company, a Nasdaq-listed firm holding digital assets, posted $13.1 million in third-quarter revenue primarily from staking rewards on its GRAM token holdings. The company staked 232.9 million GRAM tokens from a total position of 235.1 million, generating an annualized yield around 16 percent. Revenue fell from $15 million the previous quarter due to lower token prices.

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Hedera Collected Just $3,494 in Fees Over Seven Days

The Hedera network generated $3,494 in total fees during its highest-earning week in recent data, averaging roughly $499 daily. The low numbers reflect Hedera's fee structure, which charges a fixed $0.0001 per token transfer paid in HBAR. This design provides cost predictability for enterprise clients but limits revenue growth.

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Telegram Sees 700,000 New Wallets Created Within Two Days

More than 700,000 self-custodial wallets were set up on The Open Network through Telegram over a 48-hour period, founder Pavel Durov reported. The figure includes 329,952 registrations on November 9 alone as the messaging platform rolls out its integrated wallet feature to users.

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EXCLUSIVE: Expert Insights & Opinions

A collection of honest and unfiltered insights from founders and executives at some of crypto's leading platforms.

BSCN Alpha Newsletter [July 11]

The altcoin news and alpha you can't afford to miss...

BSCN Debrief: Strategy & BlackRock Launch Bitcoin Security Consortium, EU Blacklists 14 Crypto Platforms, Circle Mints $250M USDC on Solana

Strategy, BlackRock, and Fidelity pledge $15M to secure Bitcoin's codebase, the EU targets 14 crypto exchanges in its 21st Russia sanctions package, and Circle floods Solana with fresh stablecoin liquidity. Here's the week.