Bitcoin below $70K, Coinbase charter, NYSE | Weekly recap - Crypto News

Bitcoin fell to $69,376 on Nov. 13, down 4.1% over 24 hours and 8.5% over seven days.

The drop triggered $1.47 billion in leveraged liquidations, with $1.31 billion coming from long positions.

U.S. spot Bitcoin ETFs lost approximately $1.44 billion across five trading sessions through Nov. 11.

BlackRock’s IBIT saw $269.7 million of the $299.8 million withdrawn on Nov. 11 alone.

The market pressure follows October consumer inflation of 0.4%, which exceeded economists’ 0.3% forecast.

Coinbase secures national trust charter

Coinbase announced on Nov. 9 that it had secured its national trust charter, completing federal approval following preliminary clearance in April.

Its institutional custody business will now operate under supervision by the Office of the Comptroller of the Currency.

The company plans to move its New York-regulated custody operations into the federal entity over three years.

The charter covers custody and related services but excludes ordinary retail deposits, traditional lending, and direct stablecoin issuance.

Staking, prime trading, and financing remain services provided by Coinbase affiliates.

NYSE selects Avalanche for tokenized securities

Ava Labs announced on Nov. 9 that Avalanche would provide the core ledger for the clearing firm supporting NYSE’s upcoming tokenized securities venue.

The selection followed roughly a year of technical and commercial evaluation.

The proposed platform would support round-the-clock trading and onchain settlement, subject to regulatory approval.

Avalanche’s role concerns recording and settling transactions; the trading venue is designed to accommodate equities issued across multiple blockchain networks.

NYSE’s plans cover tokenized U.S. stocks and exchange-traded funds.

Deutsche Bank launches institutional custody

Deutsche Bank launched custody services for paying institutional and corporate clients in Europe on Nov. 9.

The service supports Bitcoin, Ether, USDC, EURC, and EURAU, with the bank managing wallets and private keys.

Retail customers are outside the initial offering, while expansion into Asian financial centers is planned for 2027.

MARA and Strategy adjust Bitcoin holdings

MARA’s Nov. 9 shareholder letter disclosed sales of 13,597 BTC after quarter-end for approximately $1.1 billion.

The company repaid $750 million in Bitcoin-backed loans, releasing 17,477 BTC pledged as collateral.

Strategy purchased 1,036 BTC for $81.9 million and repurchased $188.3 million of STRC preferred shares on Nov. 9.

Common-stock sales financed both transactions.

Strategy reported 850,364 BTC and approximately $4.9 billion in dollar-denominated assets as of Nov. 8.