Autor: dot-traders

• Binance ecosystem’s native coin BNB, is amongthe  top losers in the crypto market today.
• The altcoin has seen bears push prices to near $800.
• As altcoins mirror Bitcoin, the BNB price could plummet well below the intraday lows.

BNB is under pressure as a broader market downturn puts the token near the $800 support level.

With market turmoil likely to trigger further losses amid profit taking and heightened risk aversion, the BNB price could risk extending the dip across the past month beyond -24%.

Meanwhile, the total crypto market capitalization is down by 9% to below $2.9 trillion.

The global daily volume is up 43% to over $256 billion as Ethereum, Solana and other tokens plummet.

Another leg down could be bad news for BNB.

BNB price performance today

BNB’s intraday volatility has been stark.

After the token opened at around $866, bulls briefly managed a retest of $904.

However, intensified selling across the market triggered fresh selling to extend losses seen on Thursday.

The nearly 10% dip saw BNB price hover to lows of $805.

Meanwhile, daily trading volume surged 49% to over $4.39 billion, a metric that signalled increased selling pressure.

This breaching of crucial support levels adds to the vulnerability that has built since the token’s plunge below the psychological $1,000 mark.

In the past 24 hours, crypto traders have witnessed a brutal liquidation cascade.

Over $2 billion in leveraged positions have been wiped out, and while Bitcoin and Ethereum lead, a notable portion is across BNB bets.

Data from Coinglass reveals $8.3 million in liquidations for BNB.

BNB price falls after ecosystem hack

On Nov. 20, the BNB Chain ecosystem suffered a setback.

Per blockchain security platforms, the Binance platform saw the decentralized payment finance protocol GANA Payment fall victim to a sophisticated exploit.

The result – a $3.1 million drain from its contracts and liquidity pools.

The BNB token fell amid crypto market reaction to the news.

Further weakness linked to macroeconomic fears combined with a technical breakdown to extinguish the bulls’ glimmer of hope.

The bounce to $903 suggests not all is bleak, but to lift the lid of gloom, buyers have to take control.

Binance coin price outlook

Given Relative Strength Index is at 27 on the daily chart, it signals oversold conditions.

However, the downsloping outlook of the RSI indicates there’s room for bears to dominate further.

The Moving Average Convergence Divergence, or MACD, also paints a bearish picture.

As with the RSI, momentum from the MACD signals bull exhaustion after the bearish crossover on October 14, 2025.

The daily chart shows buy-side pressure buoyed bulls, but the indicator’s potential bullish crossover failed to validate.

Invalidation risks now include a decisive RSI plunge below 30. The MACD indicates pullback continuation.

Broader market liquidity issues could allow sellers to break below $800.

On the flipside, a bounce will bring $900 into play and potentially a return to above $1,000.

The post BNB price revisits $805 amid market dump; what’s the forecast? appeared first on CoinJournal.

• Two men were arrested during searches in London and near Bradford.
• Basis Markets raised at least $28 million from investors in 2021.
• Investors received valueless NFTs and tokens during the fundraising rounds.

UK authorities have opened a wide-scale criminal investigation into Basis Markets, bringing new attention to a failed crypto project that raised millions during the height of digital asset enthusiasm.

The Serious Fraud Office revealed on 20 November that it has begun examining how the project operated, how retail investors were drawn in with promises of low-risk arbitrage returns, and how at least $28 million disappeared following two fundraising rounds in 2021.

The renewed scrutiny arrives after years of silence and reflects growing concern over unregistered crypto schemes that expanded rapidly during the 2021 boom before collapsing without clear explanations.

Raids conducted in London and West Yorkshire

SFO investigators, alongside local police officers, carried out coordinated raids in London and West Yorkshire earlier in the day.

Two men—one in his 30s and another in his 40s—were detained on suspicion of multiple fraud and money-laundering offences.

The SFO said the arrests mark a significant step in its inquiry into the scheme, which it described as a “suspected fraudulent operation” rather than a registered company.

According to the agency, Basis Markets raised roughly $28 million (£21.4 million) through two public fundraisers held in November and December 2021.

Investors purchased non-fungible tokens (NFTs) that were marketed as a means of seeding a crypto hedge fund.

The money was allegedly intended to support the creation and operation of this fund.

However, by June 2022—six months after the capital raise—investors were reportedly informed that the project could no longer move forward due to proposed new US regulations.

The SFO’s investigation is expected to focus on the legitimacy of this explanation and what ultimately happened to the funds collected from investors.

Concerns over investor losses and regulatory explanations

The SFO said it is not yet able to provide further details on the nature of the regulatory concerns cited by the project’s operators.

Investigators are examining whether the statement about US regulatory changes was used as a pretext to halt operations and whether funds were improperly handled or diverted.

This case highlights the growing scrutiny facing crypto fundraising activities, particularly those involving NFTs and promises of high-yield investment vehicles such as hedge funds.

The collapse of Basis Markets adds to a string of high-profile cases in which retail investors have suffered losses amid insufficient transparency and minimal formal oversight.

Authorities have appealed for anyone who invested in or has knowledge of Basis Markets to come forward to assist the inquiry.

The SFO emphasized that tracking the flow of investor money will be central to determining whether fraudulent activity occurred.

SFO expands crypto capabilities amid rising enforcement needs

The launch of this investigation comes as the SFO moves to strengthen its capabilities in digital asset enforcement.

Earlier this year, the agency secured more than £8 million in additional funding over three years to support its ability to track, analyse, and recover crypto assets across jurisdictions.

SFO Director Nick Ephgrave said the agency is committed to pursuing individuals who misuse cryptocurrency to defraud the public.

“With our expanding cryptocurrency capability and growing expertise in this area, we are determined to pursue anyone who would seek to use cryptocurrency to defraud investors,” he said.

Ephgrave added that Thursday’s action represents an important milestone in the investigation and urged affected investors and potential witnesses to support the inquiry.

As the SFO deepens its work in digital asset enforcement, the Basis Markets case could become a key test of how the UK’s fraud authorities handle complex crypto-linked financial misconduct in an evolving regulatory landscape.

The post UK launches major crypto fraud investigation into collapsed Basis Markets project appeared first on CoinJournal.

• Metaplanet issues $135M in preferred shares to scale its Bitcoin treasury strategy.
• Saylor defends Bitcoin treasury models despite volatility and possible index exclusions.
• Treasury firms face premium compression as adoption slows and valuations slip below reserves.

Tokyo-listed Metaplanet has approved a ¥21.25 billion ($135 million) perpetual preferred share issuance as part of its ongoing effort to scale its Bitcoin-focused corporate treasury strategy, even as sector volatility intensifies.

The move comes amid heightened scrutiny of publicly traded firms with digital asset-heavy balance sheets and follows renewed defence of such strategies by Strategy founder Michael Saylor.

Metaplanet raises capital through perpetual preferred shares

The Japanese company’s board approved the issuance of 23.61 million Class B preferred shares on November 20 through a third-party allotment to overseas institutional investors.

Net proceeds are estimated at ¥20.41 billion ($130 million) after expenses, with payments scheduled for December 29, pending shareholder approval at an extraordinary general meeting on December 22.

The preferred shares—branded “MERCURY” (Metaplanet Convertible for Return & Yield)—carry a 4.9% fixed dividend and a conversion price of ¥1,000 per share.

Each preferred share entitles holders to annual dividends of ¥12.25 ($0.08), distributed quarterly, although the initial period ending December 31 will pay only ¥0.40 ($0.003) per share.

With the conversion price set well above Metaplanet’s November 19 closing price of ¥375 ($2.40), near-term dilution concerns remain limited.

Representative Director Simon Gerovich said the structure is designed to “minimize dilution from common share issuances while continuing to expand BTC holdings,” calling the offering a significant step in scaling Metaplanet’s Bitcoin treasury strategy.

Despite trading below the value of its Bitcoin reserves, Metaplanet has continued to build its digital asset position and recently deployed a ¥75 billion share repurchase program backed by a $500 million credit facility.

Saylor reaffirms commitment to Bitcoin treasury model

Meanwhile, Strategy founder and executive chairman Michael Saylor dismissed concerns about market turbulence during a November 14 CNBC interview.

He said Strategy “can withstand an 80%–90% drawdown and keep operating,” citing minimal leverage of just 1.15 times and long-dated debt maturities of 4.5 years.

Saylor argued that Bitcoin’s historical performance—averaging 50% annual returns over the past five years despite multiple major drawdowns—supports its role as a corporate treasury asset.

He highlighted that Strategy’s five-year performance of 71% outpaced Nvidia, asserting that no S&P 500 company has matched its returns.

However, Strategy faces potential removal from the MSCI USA and Nasdaq 100 indexes after index providers proposed excluding companies whose digital asset holdings exceed 50% of total assets.

JPMorgan estimates that MSCI exclusion alone could trigger up to $2.8 billion in passive outflows, with decisions expected by January 15.

Strategy’s stock has dropped more than 60% from its November 2024 peak but remains up over 1,300% since it began acquiring Bitcoin in August 2020.

Bitcoin treasury firms navigate premium compression

The broader Bitcoin treasury sector has entered what Coinbase Research describes as a “player-versus-player” environment.

Premiums to net asset value have compressed from 3.76 times in April to 2.8 times, while corporate Bitcoin adoption has fallen 95% since July.

Of 168 listed treasury companies, 26 now trade below the value of their digital assets.

Metaplanet was the first major firm to consistently trade below its reserves, a trend that accelerated its capital restructuring efforts.

The company plans to cap preferred share issuance at 25% of its Bitcoin net asset value, aiming to build credibility in the preferred equity market while expanding its treasury.

Strategy continues to accumulate aggressively, purchasing 8,178 Bitcoin this week at an average price of $102,171, raising its holdings to 649,870 BTC.

Saylor maintains Bitcoin will continue to outperform traditional assets, describing it as “digital capital” suited for long-term investors.

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