Days after spy-chipped devices from one of its resellers drained Ledger users, Ledger unveiled a phone. Plus three Canadian soldiers are charged in the kidnapping of a crypto exchange owner, the OCC confirms Operation Choke Point 2.0 was real, and Binance shuts down its mining pool.

• The Ledger theft traces back to CryptoBilis, a third-party reseller in Southeast Asia. Thieves allegedly paid it to plant SIM-card implants that sent out recovery phrases. Brandon: you shouldn't have to crack open your hardware wallet to check every chip.
• Then Ledger unveiled Atom, a phone-shaped device running Android next to Ledger's secure OS, built with Solana Mobile so AI agents can request transactions you approve. Brandon says read the room. Kate: the comments just want the devices to be safe.
• Trezor is scaling back its third-party reseller program and cutting a large share of its resellers starting in 2027.
• Binance is shutting down its mining pool on November 10 after six years and 22,188 blocks, the third major pool to go this year after SBI Crypto and Poolin. Brandon: every four years your profits get cut in half.
• Block is teasing a Square credit card that earns 3% back in Bitcoin, listed as in progress on its public roadmap.
• Seven men, three of them Canadian Armed Forces members, face 82 charges for kidnapping a Toronto crypto exchange owner at gunpoint in July. Brandon's defense: time locks and multisig from services like Casa and Unchained.
• The OCC's debanking report found all nine of the largest banks it supervises had debanking policies from 2020 to 2025, confirming Operation Choke Point 2.0. Crypto, coal, firearms, and tobacco were all targeted.
• Treasury hit Bank of America with a $1.2B fine for money laundering and sanctions violations, its third-largest penalty ever behind Binance ($4B) and TD Bank ($3B). Brandon: it's not isolated to crypto.
• Binance.US is looking to raise up to $100M at a roughly $1B valuation, per Bloomberg.
• OKX is teasing a Mastercard-powered stablecoin card for the US with 2% cash back, up to 10% for VIP members.
• Treasury tracker: Strategy +250 (848,250 BTC), Strive +2,822 (35,595, now the fourth-largest treasury company), CleanSpark sold 173 (13,530), Smarter Web Company +83 (2,830), BitFuFu +15 (1,388), and Super League made its first buy, 1 BTC.
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Strike named its new savings buckets "Stacks," and when Brandon pointed out Stacks already exists, a Strike team member called it an affinity scam. Plus Treasury withdraws the unhosted wallet and mixer rules, the CFTC builds a federal crypto license without Congress, and Robinhood buys Bitcoin.

• Strike launched Stacks, named buckets for your Bitcoin and cash savings. Brandon replied that Stacks already exists, and Strike's Matt Carvalho, formerly of Swan, answered that STX is too irrelevant to be a brand conflict. Kate: it's not a good look.
• Strike also now pays 3.6% interest on cash, paid out in Bitcoin, FDIC insured, with no minimums or maximums.
• Treasury formally withdrew FinCEN's 2020 unhosted wallet proposal and its 2023 rule labeling international crypto mixing a primary money laundering concern. Brandon calls it a win for self-custody and privacy, and shouts out Coin Center for fighting both.
• CFTC Chairman Michael Selig announced the agency's first crypto market rules, Regulation CTX and Regulation CAM, aiming for one federal exchange license instead of state-by-state licenses. Brandon's read: clarity without the Clarity Act.
• The US government moved a little over 12,000 BTC, about $1B, with some landing at Coinbase Prime. Kate thinks it's a custody shuffle tied to the Bitfinex hack, and Brandon tells the story of the time he met Razzlekhan at a Bitcoin conference.
• Buyers of tampered Ledger devices from a third-party reseller lost around $86M by Kate's count. Ledger says it wasn't them. Brandon's advice: buy direct from the manufacturer, or use multisig.
• OKX filed to trade tokenized shares of 63 US companies around the clock, from Nvidia and Tesla to McDonald's, and raised money at a $25B valuation from Circle, Ripple, SC Ventures, and Qube Research & Technologies.
• Vibewatch update: the Vibe Index wrapped with over 300 payments made by AI agents over x402, and a new repliability score (is this worth jumping into?) is in closed beta.
• Xverse closed a round from Draper Associates and Trust Machines.
• Treasury tracker: Strategy +334 to an even 848,000 BTC, Metaplanet ends an 11-week pause with +1,000 (44,000), Strive +2,000 (29,462), Silvia Inc. sold 165 (4,965), Remixpoint +7.45 (1,509), and Robinhood joins the treasury club with about 294 BTC.
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Hackers used zero-day flaws in Bitget's third-party security tools to make $387M in withdrawals look like internal transfers, and a $464M protection fund made every user whole. Plus Muneeb takes over Stacks Labs, Anchorage clients can stake Bitcoin, and we ask whether a fruit fly brain can mine Bitcoin.

In this episode of Good For Bitcoin, Brandon and Kate discuss:

• Bitget lost $387M from its hot and warm wallets. Attackers used zero-day flaws in third-party security tools to write withdrawals into the backend that looked internally generated. Cold wallets were untouched, and a $464M protection fund covers every user. Kate notes on-chain patterns match North Korea-linked attackers.
• NEAR Intents lost about $3.8M in USDT through a bug on BNB Chain, patched it within an hour, called out the attacker, and got the funds back.
• Adam Back replied to last week's clip: 25,000 BTC versus 0.6 BTC. Brandon's answer: it was a joke, and Adam is welcome on the show anytime.
• Anchorage Digital clients can now fund a Bitcoin bond on Stacks from their Anchorage account and earn BTC rewards self-custodially.
• Muneeb becomes CEO of Stacks Labs in mid-October, focused on Bitcoin capital markets, privacy, and post-quantum. Kate says STX nearly doubled on the news.
• A shielded Bitcoin white paper promises private L1 transfers with no soft fork, operators, or bridges. The peg-in and peg-out design is saved for part two, so Brandon is reserving judgment.
• Coinbase launched fixed-rate USDC loans backed by Bitcoin. Your BTC can still be liquidated on LTV or a missed due date.
• Can a fruit fly brain mine Bitcoin? A mining hardware maker claims real neurons could hash 10 times more efficiently than today's ASICs.
• Blink Wallet custodial accounts were drained and customers made whole, and a French family was held in a crypto extortion attempt. Brandon's wrench-attack advice: time delays and multisig.
• Quick headlines: SoFi settles its $25B card program in stablecoins on Mastercard's network, the SEC proposes looser adviser custody rules, and Treasury's first GENIUS Act rule sends stablecoins over $10B to federal oversight.
• Treasury tracker: Strategy holds 847,666 BTC, back above its pre-summer-sales stack, and repurchased $152M of STRC. Strive +1,107 (27,462), Capital B +13 (3,538), and Metaplanet sat out an 11th straight week.
• Follow the show on X: @goodforbtc.

• Brandon Marshall — @marshallmixing
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