[3 Reads] OpenAI raises $11B more / IREN pivots to AI / US sanctions MEXC + take
Today's 3 Reads
Bitcoin Miner IREN to Pivot Fully to AI Business by Year-End
According to CoinPost, bitcoin miner IREN reported its July-September quarterly earnings. The company's AI cloud revenue grew sharply quarter over quarter. IREN aims to largely complete its shift from bitcoin mining to AI business by the end of the year. Source: https://coinpost.jp/?p=746965
OpenAI Reportedly Raises Additional $11B at $1.25T Valuation
According to TechCrunch, OpenAI has reportedly raised an additional $11 billion in a new funding round. The round has not yet closed but is expected to finalize in the coming weeks. The raise values the AI lab at $1.25 trillion. Source: https://techcrunch.com/2026/11/06/openai-reportedly-raises-an-additional-11-billion-at-a-1-25-trillion-valuation/
US Treasury Cuts Crypto Exchange MEXC Off From Financial System
According to Decrypt, the US Treasury's FinCEN issued an order against crypto exchange MEXC. The action, part of Operation Economic Outcast, bars US institutions from any transfers to or from MEXC. Treasury says MEXC facilitated $16 billion in illicit finance tied to Iran, North Korea, and Russia. Source: https://decrypt.co/382758/treasury-cuts-off-crypto-exchange-mexc-us-financial-system
On-Chain Data
Ethereum chain TVL: $43.34B [Source: DefiLlama] (as of Nov 08, 2026 04:58 JST) TVL describes the value of assets deposited on a chain. It should be distinguished from game user counts or revenue.
Take
These three stories capture crypto and AI money moving in parallel. A bitcoin miner is pivoting toward AI infrastructure while OpenAI reportedly raises billions more at a trillion-dollar-plus valuation, showing capital pouring into AI. At the same time, US regulators cut off a crypto exchange accused of facilitating billions in illicit finance, a reminder that growth and enforcement are advancing side by side across this industry right now.
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