☕️ Crypto Longs Lose $1.1B in Tech Selloff; FinCEN Bars MEXC Global A tech stock selloff erased $1.1 billion in crypto longs, while US regulators moved to cut off MEXC Global from the American financial system.
1. Crypto Majors Drop 5% Following Tech Stock Crash — Bitcoin fell 5.4% to $75,871 as semiconductor shares crashed over 12%, triggering more than $1.1 billion in crypto long liquidations [3]. Markets priced in slower data center permitting under incoming Democratic state leadership [3]. 2. FinCEN Severs MEXC Global From US Financial System — The Treasury Department barred US institutions from transmitting funds to MEXC Global over alleged sanctions evasion and cybercrime flows [9]. FinCEN alleged the exchange facilitated at least $16 billion in illicit transactions between May 2021 and May 2026 [9 3. Strive Accumulates 15,124 Bitcoin in October — Strive acquired 15,124 $BTC in October, raising its total holdings to 43,124 BTC [1]. The company reported $509 million in third-quarter net income, driven by $533.7 million in unrealized Bitcoin gains [1]. 4. Former FBI Agent Pleads Guilty to Crypto Theft — Patrick Yaroch pleaded guilty to wire fraud and money laundering after stealing $2.47 million from 35 FBI investigations [8]. Federal agents recovered roughly $925,000, and sentencing is scheduled for March 4, 2027 [8]. 5. Nigeria Mandates Local Licenses for Stablecoin Issuers — The Central Bank of Nigeria ruled that foreign stablecoin issuers must incorporate domestically and secure local licenses [4]. Issuers of foreign-currency tokens must maintain 15 billion naira in capital and a 2% overcollateralization reserve [4].
📊 Bitcoin trades at $75,889, total crypto market capitalization stands at $2.54 trillion, and the Fear & Greed index indicates Extreme Fear at 25.
