Gate Daily (November 13): SEC agrees not to enforce strict regulations on cryptocurrencies; White House confirms Trump will soon end the government shutdown

Bitcoin (BTC) retraced overnight gains, currently around $101,948 as of November 13, with tech stocks cooling off and triggering profit-taking. SEC Chairman Gensler pledged that under the current market structure, there will be no “lenient enforcement” measures against cryptocurrencies. The re-examination date for Ethereum’s largest MEV theft case is set for February or March next year. The White House disclosed that Trump is about to sign a temporary funding bill to end the government shutdown.

Macro Events & Crypto Hotspots

1. SEC Chairman Gary Gensler discussed how the agency will handle digital asset fraud based on its “cryptocurrency project” plans and legislation currently under review by Congress. In a speech at the Federal Reserve Bank of Philadelphia on November 12, Gensler detailed the agency’s plan to modernize digital asset regulation. He mentioned that the SEC plans to consider “establishing a token classification framework” in the coming months, using the Howey Test (SEC’s standard for evaluating securities) as an “anchor,” to recognize that “investment contracts may cease.” He emphasized that while a project’s token issuance may initially involve an investment contract, these commitments may not be valid forever.

2. Brothers Anton Peraire-Bueno and James Peraire-Bueno have been indicted for suspected involvement in money laundering and fraud. They allegedly exploited Ethereum blockchain vulnerabilities to steal $25 million and could face a second trial as early as February. This week, attorneys representing the U.S. government submitted a document to the Southern District of New York requesting a federal judge to schedule a retrial for the Peraire-Bueno brothers, ideally in late February or early March 2026. The request was made approximately three days after the judge declared the case a mistrial due to a deadlocked jury.

3. The White House disclosed that Trump will sign a temporary funding bill today at 9:45 PM Eastern Time (10:45 AM Beijing Time). Congress has cleared key procedural hurdles for the bill passed by the Senate, paving the way for a full House vote to end the government shutdown. As the shutdown enters its 43rd day, House members advanced the bill on November 12 with a vote of 213 in favor and 209 against. The bill will now undergo a one-hour debate followed by a final vote.

News Highlights

1. FTX/Alameda recovered 193,800 SOL from collateral and distributed to 28 addresses.

2. White House: Trump to sign the temporary funding bill today at 10:45 AM Beijing Time.

3. SharpLink Q3 earnings: total revenue up 1100%, crypto assets approximately $3 billion.

4. Federal Reserve hawkish member Bostic announced retirement.

5. Brazil proposes selling seized Bitcoin to weaken organized crime networks.

6. Strategy mNAV drops below 1; company market value is lower than its Bitcoin holdings.

7. White House: September labor statistics will be released after government reopens.

8. U.S. House passes procedural vote; government shutdown could end as early as today.

9. EU regulators seek to strengthen MiCA oversight, with shared order books drawing attention.

10. Solana active addresses drop to lowest in 12 months.

11. White House: October non-farm payroll and inflation data may never be published.

Market Trends

1. Latest Bitcoin news: retraced overnight gains, currently around $101,948, with $158 million liquidated in the past 24 hours, mostly long positions.

2. U.S. stock markets: Dow Jones Industrial Average hit a new closing high and broke above 48,000 points, while Nasdaq Composite closed lower as investors shifted funds from tech stocks, hoping the government shutdown ends this week. Dow rose 326.86 points, or 0.7%, to close at 48,254.82. S&P 500 gained 4.31 points, or less than 0.1%, to close at 6,850.92. Nasdaq fell 61.86 points, or 0.3%, to close at 23,406.46.

![Bitcoin Liquidation Map]$BTC https://img-cdn.gateio.im/webp-social/moments-87a9b3933a-5224ca8e35-153d09-cd5cc0.webp(

(Source: Gate)

3. According to Gate BTC/USDT liquidation map, with current price at $101,869.80, if price drops near $100,561, total long liquidation exceeds $288 million; if it rises near $103,725, total short liquidation exceeds $803 million. Short liquidations are significantly higher than longs, so traders should control leverage to avoid large-scale liquidations during market volatility.

![Bitcoin Spot Flow])https://img-cdn.gateio.im/webp-social/moments-87a9b3933a-c6f2a70117-153d09-cd5cc0.webp(

(Source: Coinglass)

4. In the past 24 hours, Bitcoin spot inflow was $2.55 billion, outflow $2.58 billion, net outflow $0.3 billion.

![Crypto Contract Flows])https://img-cdn.gateio.im/webp-social/moments-87a9b3933a-f65236972f-153d09-cd5cc0.webp(

(Source: Coinglass)

5. Over the last 24 hours, net outflows led in contracts for $BTC, $SOL, $XRP, $LTC, and others, indicating trading opportunities.

) Top KOL Insights

Phyrex Ni (@Phyrex_Ni): Although Bitcoin’s price has pulled back today, I think overall market sentiment remains positive. Four speakers related to the Fed spoke today. Williams didn’t directly comment on monetary policy but seemed supportive of continued easing. Bostic took a more hawkish stance, less willing to cut rates further, believing it would make inflation harder to control. Venturing into the political side, Bencent and Milan, with Milan being a Trump supporter, are calling for continued rate cuts. Bencent publicly stated he’s ready to be Fed Chair and that a 50 basis point cut in December is inappropriate, but 25 basis points is justified. Currently, the market’s rate cut expectations remain high, with signs of further increases. Bencent also reiterated Trump’s plan to provide $2,000 “tariff dividends” to low- and middle-income earners, which, although difficult to obtain, may boost investor sentiment. Regarding Bitcoin data, turnover continues to decline, consistent with previous expectations. When prices fall without clear negative news, investor interest tends to be low. The main reason for declines is liquidity shortage. Based on the House’s upcoming vote, it should conclude tomorrow morning Beijing Time, which could ease market sentiment if all goes smoothly. URPD data shows support levels are stable, with no signs of panic. Distribution of chips appears reasonable, and distressed investors are relatively quiet. Overall, investor sentiment remains quite stable.

$HYPE Today’s Outlook

1. China’s M2 money supply (annual rate) at the end of October, previous value 8.4%.

2. China’s API crude oil inventory change (10,000 barrels) to 1107, previous 652.1.

3. Japan’s October domestic corporate goods price index (annual rate), previous 2.7%.

4. Australia’s October seasonally adjusted unemployment rate, previous 4.5%.

5. UK Q3 preliminary GDP (quarterly), previous 0.3%.

6. UK Q3 preliminary GDP (annual), previous 1.4%.

7. UK September trade balance (million GBP), previous -21,183.

8. UK September industrial output (annual), previous -0.7%.

9. US October Producer Price Index (annual rate).

10. US weekly initial jobless claims (thousand), until 1108.

11. EIA releases monthly Short-Term Energy Outlook.

12. IEA releases monthly crude oil market report.