$BTC $BTC Injective has become one of the strongest-performing altcoins in the market following the news that its ETF, which is planned to have a staking feature, will be listed on Nasdaq.

Injective’s native token, $INJ, surged approximately 6% following news of a staking-enabled ETF being developed by Canary Capital. This made $INJ one of the strongest performers on the CoinDesk 100 index at the time of publication. However, the overall market sentiment wasn’t equally strong.

According to regulatory records, Nasdaq has approved the listing of Injective ETF, a staking-enabled ETF developed by Canary Capital. The fund plans not only to track the $INJ price but also to earn network rewards by staking a significant portion of its tokens. In previous documentation, Canary Capital stated that the goal was to have at least 90% of the fund’s assets staked under normal market conditions.

However, the previous application envisioned the fund being listed on the Cboe BZX under the ticker symbol “INJS”. Due to the new information highlighting Nasdaq and the ticker symbol “INJC”, further updates to the fund documents may be necessary. This detail indicates that it should not be interpreted as the product immediately becoming available for trading.

ETF models that include staking can offer investors the opportunity to benefit from network rewards in addition to changes in the token price. However, they also carry additional risks such as custody, validator selection, reward distribution, and potential token lock-ups.

While the rise in $INJ may be pricing in this expectation, the ETF’s launch date, final structure, and investor demand are not yet finalized. Therefore, it should be remembered that the short-term rise driven by the news does not guarantee the product’s long-term success.

*This is not investment advice.

$BTC $GRVT VanEck argued that the October sell-off among Bitcoin miners shifting to AI data centers did not reflect the companies’ fundamental situation.

Investment management company VanEck has stated that the sharp decline in the shares of companies transitioning from Bitcoin mining to AI data center infrastructure may be exaggerated. According to the company’s assessment, shares in this group lost an average of 35 percent of their value in October.

VanEck argues that investors are viewing companies operating in different parts of the AI infrastructure as a single investment theme. According to the analysis, debt concerns arising in companies leasing graphics processing units have also spread to Bitcoin miners providing electricity and data center infrastructure.

Companies like CoreWeave use large amounts of debt to finance their expensive AI chips. The increase in interest costs has raised concerns about these companies’ creditworthiness and long-term lease payments. Shares of energy capacity providers like Hut 8 and Core Scientific were also affected by the same sell-off.

VanEck, however, points out that the risks of the two business models are not entirely the same. Companies transitioning from Bitcoin mining to data center infrastructure are offering their existing electricity connections, land, and energy contracts to AI companies. According to the firm, the biggest physical obstacle to AI computing capacity may be finding sufficient electricity connections rather than the demand for chips.

The extended time required for new connections to the power grid could create a scarcity premium for the energy capacity that miners already control. VanEck also emphasized that despite credit concerns, large data center lease agreements that had already been signed were not canceled.

According to the firm, the cash flow potential from long-term contracts does not fully align with the current valuations of the shares. However, this assessment is VanEck’s investment view and does not necessarily mean that prices will recover.

Payment difficulties among AI clients, delayed project completion, high debt costs, and energy regulations continue to pose significant risks for mining companies.

*This is not investment advice.

$BTC World Liberty Financial, the Trump-family backed crypto venture, plans to buy back more of its $WLFI token after a steep price drop that followed the U.S. midterm elections.

$WLFI has lost about 10% of its value since Tuesday and more than 66% this year. The latest decline came as Republicans performed worse than expected in the elections.

The TRUMP memecoin and Trump Media shares also hit record lows.

$WLFI faces a separate headwind too. On the day of the vote, Tron founder Justin Sun said he had asked a federal court to sanction World Liberty in his lawsuit over roughly 4 billion frozen $WLFI tokens.

The company said on X that it may use fees earned from reserves backing its USD1 stablecoin, along with other sources, to pay for the purchases.

The plan, $WLFI said, is to encourage more active participation in the project’s governance and put more voting power in the hands of committed long-term holders.

“We intend for buybacks to be an ongoing part of our long-term strategy with the pace and scale guided by ecosystem growth and impact on governance participation,” the project said.

This is not World Liberty's first attempt to support $WLFI through token purchases. In April, the company disclosed $65.6 million in open-market buybacks over the prior six months.

World Liberty FinancialTrump

$BTC Greece's parliament approved a new tax framework for cryptocurrencies, introducing a 10% tax on capital gains and a separate 15% levy on income from staking and decentralized finance (DeFi).

The rules, set to take effect on Jan. 1, 2027, aim to bring crypto investments into the country's tax system.

Individuals will pay 10% on annual net crypto gains that exceed 500 euros ($559) under the framework. Once that threshold is crossed, the full gain is taxable.

The tax also applies when investors use crypto to buy goods or services, not just when they sell it for cash.

Returns from staking, crypto lending and providing liquidity to DeFi platforms will be treated as interest income and taxed at 15%, according to the Finance Ministry.

Investors who record annual crypto losses exceeding 500 euros can carry them forward for five years to offset future crypto gains. The law also provides a 12-month window for investors to declare past crypto gains without late-filing fines or interest, subject to conditions. Tax payments must be made within 60 days of declaration.

The Finance Ministry says swapping one cryptocurrency for another will not trigger tax, but parliament's Scientific Service warned that the bill's wording could cover such trades.

$BTC Bitcoin (BTC) has outperformed the S&P 500 in half of US trading sessions over Glassnode’s latest measurement period, ending a prolonged stretch of losing more sessions than it won.

Key points:

Bitcoin beat the S&P 500 by returns in 50% of US trading sessions over the past 90 sessions, per Glassnode data.

Bitcoin’s session win rate has not exceeded 50% since March 2025.

The S&P 500 gained an average of 10.7% in the three months after the seven midterm elections since 1922 in which Democrats won both chambers under a Republican president.

Bitcoin ends stretch of weakness against S&P 500

Data from onchain analytics platform Glassnode shows that Bitcoin outperformed the S&P 500 in 50% of Wall Street trading sessions over a rolling 90-session period.

The reading, covering the 90 sessions through Wednesday, marks an improvement after an extended period in which Bitcoin lost more sessions than it won.

“The win rate has not been above 50% since March 2025; for most of the past year, Bitcoin lost more sessions than it won,” Glassnode wrote in the latest edition of its regular newsletter, The Week Onchain.

“A return to an even split ends a long stretch of underperformance. Should the win rate climb above 50% and hold there, it would show Bitcoin regaining strength against equities.”

BTC/USD vs. S&P 500 per-session returns. Source: Glassnode

Glassnode added that Bitcoin’s average per-session gains were also “slightly higher” than those of the S&P 500.

Historical data favors stocks after Democratic midterm sweeps

Democrats’ wins in the US midterm elections have also drawn attention to historical stock market gains following similar results.

Data from crypto asset manager Capriole Investments shows that Democratic sweeps of Congress under Republican presidents have historically been followed by strong S&P 500 returns.

Related: Bitcoin hits $80.5K as US stocks rally on midterm election results

Of the 26 midterm elections since 1922 (excluding this year’s vote), Democrats won both the House and Senate under a Republican president seven times. The S&P 500 gained an average of 10.7% over the following three months.

Average gains were 17.5% after six months and 15.5% after a year.

“There is simply no better election result for markets than we just had,” Capriole founder Charles Edwards commented on the data in a post on X.

S&P 500 performance based on Midterm Election outcome. Source: Charles Edwards on X.com

Data from TradingView puts Bitcoin’s rolling 20-day correlation with the S&P 500 at 0.63. The measure has become markedly positive since August, when both crypto and stocks gained as the US Treasury expanded its debt buybacks.

BTC/USD one-day chart with S&P 500 correlation data. Source: Cointelegraph/TradingView

$BTC The sprawling data centers that underpin the AI revolution have become about as popular as baby toys made from asbestos.

Campaigners around the world highlight the massive amounts of energy and water the infrastructure requires, while markets worry about the revenue required to pay back the $38 billion cost of building a single, one-gigawatt AI data center.

But is there another way to power the AI revolution that’s sitting in your pocket right now?

As of October 2026, there are an estimated 7.68 billion mobile connections worldwide, and billions of smartphones are currently lying unused in pockets, on desks and in drawers.

Each one has a processor, memory and an internet connection, and represent a vast pool of computing power just waiting to be put to work.

So could a network of humble smartphones realistically power AI at scale?

Putting smartphones to work

Decentralized AI networks are emerging that aim to turn everyday smartphones into a distributed infrastructure layer, and reduce reliance on costly, centralized data centers.

Acurast says it has onboarded more than 335,000 smartphones to its network. Co-founder Alessandro De Carli says that around 40,000 of those are fully active on an average day, providing computing capacity for tasks ranging from web scraping and cybersecurity to AI inference and agent hosting.

Data center locations across the US. Source: World Resources Institute

Related: DePIN grows into a $10B sector despite token slump, Messari says

He says smartphones are particularly efficient for certain workloads. Their built-in hardware security features “excel” in areas like confidential computing or an “isolated environment” that can install and run executables. They are also well suited to workloads that are “CPU intensive,” or which require wide distribution and “unfiltered access” to the internet,

“Servers are better at multi-threading, but smartphones offer unmatched compute efficiency,” De Carli tells Magazine.

While ordinary smartphones have limited memory, and big servers retain an advantage when handling multiple tasks in parallel, he says many workloads can still fit within the memory available.

Taken as a whole, the active phones on the network “match the compute capacity of about 2,340 high-end data-center servers,” he claims, benchmarked against the ASUS RS720A-E11, a high-density server built for artificial intelligence and high-performance computing (HPC).

Mobile connectivity in 2026. Source: Datareportal

Another project, Phase, launched Phase Proxy in October, which allows smartphone owners to provide internet connectivity and blockchain validation for AI agents. Founder Kirill Eves explains that, “websites routinely block or rate-limit automated traffic originating from data centers,” so the system employs users’ mobile and residential connections as a proxy instead. Phase plans to charge 0.5 USDT per 1,000 requests and 1GB of traffic.

The next step is Phase Router which will direct simpler requests to models running on phones in the network, or route them instead to major external providers like OpenAI and Anthropic, based on “task complexity, model capabilities, performance and cost.”

The network could eventually expand beyond smartphones to desktops, servers and GPUs, he says.

But Markus Levin, co-founder of decentralized infrastructure provider XYO, says decentralized networks may be better suited to collecting and verifying real-world data rather than running AI models.

Phones and sensors can provide localized information that centralized datasets miss, he says, but only if the data is accurate and resistant to manipulation.

“A useful decentralized AI network should be judged by whether it solves a problem customers will pay to fix, not by its token price or node count,” he says.

Coordination is the tricky part

One of the biggest challenges with mobile phone networks is coordinating the devices to provide predictable hardware, power and connectivity, in the same way data centers do.

A 2025 study tested small groups of smartphones carrying out image recognition tasks and found that clusters of phones could deliver competitive performance in certain conditions, but the results came from a controlled testing environment.

Related: Web3 companies turn to hardware with crypto-powered phones, consoles

A Google-backed project at the University of California, San Diego found that a cluster of 20 retired smartphones could handle the peak computing workload of a class of more than 75 students, with grading times faster than the university’s standard cloud setup. However, those devices were also organized in a controlled environment, not scattered across the world.

In the real world .

$BTC Bitcoin (BTC) fell below $76,000 on Thursday as risk assets abruptly reversed their US midterm elections rally.

Key points:

Bitcoin fell to $75,463 its lowest levels since Sept. 16, amid a worsening stock sell-off.

Risk assets gave back gains from the US midterm elections, with the Nasdaq Composite Index dropping 4.2%.

BTC/USD briefly fell below its 50-week simple moving average (SMA), at $75,733, putting the level’s role as support under pressure.

BTC price sinks below $76,000 amid risk-asset rout

Data from TradingView showed BTC/USD shedding more than 6% to $75,463 on Bitstamp, its lowest levels since Sept. 16.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

After making swift gains on the back of a Democrat sweep of the US House of Representatives and Senate, equities saw sharp selling on Thursday as traders rotated out of tech. The S&P 500 fell 2.7%, while the tech-heavy Nasdaq Composite Index lost more than 4% to hit its lowest levels since July 29.

Nasdaq Composite Index one-day chart. Source: Cointelegraph/TradingView

Oil rebounded amid reports of fresh strikes on tankers in the Middle East and uncertainty over what steps Democrats may take to resolve the US-Iran war. WTI crude returned above $90 per barrel, while Brent gained 2.5% to approach $97.

CFDs on WTI crude oil one-day chart. Source: Cointelegraph/TradingView

“We may be headed for more volatility as investors digest the election results and potential policy implications,” Jordan Watson, a portfolio manager at Tandem Investment Advisors, told CNBC. Watson added that equities gains following the midterm results should not be treated as an “all-clear signal.”

Previously, Cointelegraph reported on concerns that Democrat policies could be less favorable to the AI sector, potentially curbing already precarious capital expenditure plans.

Economist Mohamed El-Erian questioned whether the change in US political trajectory would really have a long-term negative impact on the tech sector. “Will the shift in Congress actually slow tech down? If yes (as many assume, though I’m less sure), can the rest of the market and economy thrive without the shield of tech earnings and spending?” he wrote in a blog post.

El-Erian described the day’s tech-stock weakness as “not surprising.”

Related: Bitcoin win rate vs. S&P 500 recovers as post-midterm history favors stocks

Bitcoin 50-week trend line support at risk

Crypto markets liquidated nearly $500 million in positioning in the first hour of the US trading session, per data from CoinGlass, with 24-hour total liquidations nearing $850 million at the time of writing.

BTC/USD vs. crypto liquidations. Source: CoinGlass

Now targeting $76,000, BTC/USD approached the bottom of its one-month trading range. The pair risked losing support at the 50-week simple moving average (SMA), currently at $75,733.

BTC/USD one-day chart with 50-week SMA. Source: Cointelegraph/TradingView

In his latest analysis, crypto trader Rekt Capital noted that Bitcoin was repeating behavior from May, when a period of rangebound moves around $80,000 subsequently gave way to a breakdown and new macro lows of $57,000 in late June.

BTC/USD three-day chart. Source: Rekt Capital

$BTC Amundi, Europe’s largest fund manager by assets, has launched a tokenized share class of its STOXX Europe 600 equity index fund on Ethereum, expanding its blockchain-based investment offerings beyond money market funds.

The new share class was issued on Ethereum in collaboration with CACEIS, a European asset-servicing company that provided the tokenization infrastructure. The fund will continue to be available through traditional investment channels, Amundi said in a Thursday announcement.

The fund tracks the STOXX Europe 600 Index, which covers 600 large-, mid- and small-cap companies across developed European markets. Amundi said it plans to develop a broader range of tokenized funds for institutional clients and digital platforms, citing potential improvements in accessibility, settlement speed and operational efficiency.

The launch follows the asset manager’s introduction of its first tokenized money market fund share class in November 2025, also developed with CACEIS on Ethereum.

Related: Robinhood’s Tenev warns US tokenization uncertainty deters ‘serious assets’

Tokenized stock market grows as US companies dominate

Amundi’s move comes amid rapid growth in the global tokenized equities market, although the largest products remain concentrated in US-related assets.

The value of tokenized stocks reached $4.24 billion as of Wednesday, Nov. 4, up nearly 27% over the past 30 days, according to RWA.xyz data. The platform’s 10 largest tokenized equity products by value were all tied to US companies or US-listed securities, including Securitize, SpaceX, Circle and Alphabet.

Tokenized equities. Source: RWA.xyz

Meanwhile, European financial firms have pressed regulators to accelerate reforms. In April, a coalition of 39 companies and industry groups warned that the EU risked falling behind the US in tokenized finance, calling for expanded asset eligibility, higher volume limits and the removal of time restrictions on licenses under the bloc’s Distributed Ledger Technology (DLT) Pilot Regime.

Magazine: Can decentralized phone networks power the AI revolution?

$BTC House Financial Services Committee Chair French Hill, a key Republican ally of the cryptocurrency industry, has won reelection in Arkansas but is expected to lose his committee chairmanship after Democrats won control of the House of Representatives in Tuesday’s midterm elections.

The Associated Press called the race Thursday, confirming Hill’s victory over Democratic challenger Chris Jones in Arkansas’ 2nd Congressional District. Hill, who sponsored the CLARITY Act and voted for the GENIUS Act, holds an A rating from the crypto advocacy group Stand With Crypto, which classifies him as strongly supportive of cryptocurrency.

Fairshake, a cryptocurrency industry-backed super political action committee (PAC), pledged $1 million to support Hill’s reelection campaign in October as part of its efforts to retain crypto-friendly lawmakers in Congress.

California Democrat Maxine Waters, the current ranking member of the House Financial Services Committee, is the leading contender to replace Hill as chair, according to Reuters reporting.

Democrats won control of both chambers of Congress in Tuesday’s midterm elections, raising uncertainty over the future of US crypto legislation and the prospect of increased industry scrutiny. Crypto-backed super PACs spent more than $176 million during the election cycle.

Magazine: Wall Street killed Bitcoin’s wild rallies: 10x’s Markus Thielen

$BTC Core Scientific said it expects to exit Bitcoin mining by the end of 2026 as it shifts its business toward artificial intelligence and high-performance computing infrastructure.

“We expect to complete the wind-down during the fourth quarter and enter 2027 as a pure-play, high-density colocation provider,” said Core Scientific chief financial officer Jim Nygaard during a Q3 earnings call on Thursday.

Core Scientific had previously disclosed in a July quarterly filing that hosted mining would end by Dec. 31 as it continued to wind down its self-mining operations. The comment establishes a targeted completion date for its complete Bitcoin mining exit.

Its latest quarterly results show how far the business has shifted. Third-quarter self-mining revenue fell to $12.3 million from $57.4 million a year earlier, while revenue from hosting other miners dropped to $5.2 million from $8.7 million.

Bitcoin mining generated just $17.5 million, or 7.5%, of Core Scientific’s $232.9 million in third-quarter revenue, compared with $215.4 million from colocation services.

The company had nearly 50% fewer miners online at the end of September than at the end of 2025, according to Nygaard.

Core Scientific pivot to AI

Core Scientific’s move into AI hosting took shape in 2024 after signing an initial hosting agreement with CoreWeave in March that year, followed by a much larger deal announced in June.

At the time, Core Scientific presented AI hosting as an expansion alongside its mining business. Its June 2024 announcement emphasized preserving Bitcoin mining capacity.

By December 2025, The Wall Street Journal reported that Core Scientific was already targeting to wind down its Bitcoin mining operations by 2028.

Related: American Bitcoin’s $126M profit masks mining pressure as rivals turn to AI

Mining economics added pressure in the months following.

Core Scientific recorded $266.5 million in mining-related asset impairments in the first quarter of 2026, citing weaker Bitcoin prices, historically low hashprice and falling digital asset mining equipment values in the secondary market.

During the second quarter, it terminated its mining equipment agreement with Block and Proto, recording a $41.9 million loss as part of the transition.

US midterms bring scrutiny of data-center growth

The planned exit comes as the US election results introduce fresh uncertainty for companies expanding AI infrastructure.

Opponents of data-center development were among the winners of the Democrats’ sweeping midterm gains, Reuters reported Wednesday.

The backlash centers partly on electricity bills and the demands large facilities place on local resources.

Cointelegraph reached out to Core Scientific for comment.

Magazine: Can decentralized phone networks power the AI revolution?