Here is your daily crypto intelligence, freshly minted. It’s Wednesday, November 12th, 2025.

Our top story is a major geopolitical accusation, with China's cybersecurity agency accusing the US government of orchestrating a $13 billion Bitcoin theft in 2020. They allege over 120,000 Bitcoin were stolen from the LuBian mining pool in what they call a "state-level hacker operation."

In the UK, a Chinese national, Zhimin Qian, has been sentenced to over 11 years in prison related to the country's largest-ever Bitcoin seizure of over 60,000 BTC. This signals a major crackdown on large-scale crypto crimes.

In institutional adoption news, Coinbase is launching regulated savings accounts in the UK offering a 3.75% annual interest rate, a first for a crypto-native exchange in the region. This blurs the line between crypto and mainstream finance. Following this trend, research firm TD Cowen expects 'Strategy' to add an estimated 6,720 Bitcoin to its treasury, funded by a new stock issuance, while maintaining a year-end BTC price target of $141,277.

With the US government shutdown ending, regulators like the SEC and CFTC are expected to refocus on crypto. The CFTC is reportedly in talks to launch regulated spot crypto trading. In another significant institutional step, the DTCC has listed Bitwise's spot Chainlink (LINK) ETF under the ticker CLNK. While not a final approval, this is a key logistical step preparing for a potential spot altcoin ETF.

In the DeFi space, Lighter, a perpetual DEX infrastructure provider, raised $68 million at a $1.5 billion valuation, showing strong VC interest. Meanwhile, Uniswap's UNI token surged over 20% after a community proposal to burn millions of tokens, highlighting the impact of governance on price.

Looking at market flows, US Bitcoin ETFs saw $300 million in net inflows in one day, breaking a two-week outflow streak and suggesting investors are "buying the dip."

Finally, Upexi, a Solana-linked treasury, reported a record quarter, largely driven by $78 million in unrealized gains from its SOL token holdings.