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Bitcoin erased Wednesday's rally as a Wall Street selloff wiped out more than a billion dollars in crypto positions, while Musk's companies lost $380 billion this week on data-center fears. OpenAI eyes a 2027 IPO, Samsung brought stablecoins to millions of Galaxy phones, and Anthropic added personal finance tracking to Claude. Ukraine's central bank pushed back on a crypto bill, and Norges Bank used Finans Norge's payments conference to call for a tokenization strategy while confirming it's ready to launch a digital krone if needed.

Some stories in Kaupr Daily:

💎 Nearly $1.1 billion in crypto positions were liquidated in 24 hours as bitcoin tumbled back to $75,700, undoing Wednesday's rally entirely.

💎 OpenAI's enterprise revenue has gone from roughly 30% to the majority of its total, fueling 70% quarterly growth in Q3.

💎 Norges Bank wants closer cooperation with other Nordic and European central banks on tokenized settlement systems — but still has to decide whether Norway joins TETOS.

Also today: Firi Denmark's Karina Rothoff Brix argues in Kaupr's latest guest blog that crypto isn't doomed just because Democrats control Congress.

— Morten

Bitcoin fell about 6% to $75,700 on Thursday, erasing Wednesday's rebound above $80,000, as US stocks sold off sharply — the Nasdaq dropped 4.7% and the VIX jumped roughly 60%. Nearly $1.1 billion in crypto positions were liquidated over 24 hours, hitting about 211,000 traders.

Why it matters: Wintermute says it would need to see bitcoin reclaim and hold $80,000 before turning more positive again, with $73,000 and $68,000 as the next levels to watch on the downside.

Source: Bitcoin erases post-election gains as Wall Street selloff triggers over $1 billion in crypto liquidations — The Block

Tesla shares slumped over 11% and SpaceX nearly 9% on Thursday, as Musk's companies headed toward a combined $380 billion weekly loss in market value. Democratic wins in Texas raised fears of tougher scrutiny and data-center moratoria — Goldman Sachs estimates up to 45% of planned US data-center capacity could be affected.

Why it matters: Musk also confirmed special committees at both companies are exploring a potential SpaceX-Tesla merger, adding uncertainty on top of the regulatory risk.

Source: SpaceX, Tesla extend losses as midterm results cloud data center, merger outlook — Reuters

OpenAI president Greg Brockman said at a Wall Street Journal tech conference that the company could be IPO-ready in 2027, pointing to 70% quarterly revenue growth in Q3 as enterprise sales — now the majority of revenue, up from about 30% — doubled. He cited a new J.P. Morgan Chase partnership as an example.

Why it matters: Brockman admitted Anthropic's Claude Code has taken agentic-coding market share OpenAI wasn't competing for — "we weren't even in the conversation" — a rare acknowledgment from a rival.

Source: OpenAI president Greg Brockman says company could be IPO ready in 2027 — TechCrunch

Samsung Wallet's Stablecoin Account went live for eligible US Galaxy users on Thursday, letting them buy, hold and transfer USDC on Solana without managing a separate crypto wallet or private keys. About 82 million compatible Galaxy devices are in the US; Bastion runs the accounts, with Coinbase holding the USDC as sub-custodian.

Why it matters: Users can also send money to bank accounts in more than 60 countries, and Samsung says it's exploring stablecoin payments both online and in-store.

Source: Samsung Wallet launches USDC accounts on Solana for US Galaxy users — The Block

Anthropic has launched a beta Personal Finance feature for Claude's Pro, Max and Ultra subscribers in the US, letting users connect bank accounts and cards through Plaid. Claude can flag duplicate charges, track spending by category and build payment calendars — but the integration is read-only and gives no investment advice.

Source: Anthropic Adds Personal Finance Tracking to Claude — Fintech News Singapore

The National Bank of Ukraine says it won't back draft law No. 10225-d in its current form, calling the drafting process "not sufficiently transparent." It wants power to restrict unsupervised foreign tokens and warns that leaving the number of licensed trading platforms to regulator discretion risks market concentration.

Why it matters: The bill still sets a transitional 5% tax rate for existing crypto assets through 2028 and exempts crypto-to-crypto trades — a compromise the NBU accepts even as it pushes for tighter safeguards elsewhere.

Source: Ukraine's central bank opposes crypto bill, citing monetary sovereignty concerns — CoinDesk

Norges Bank's Torbjørn Hægeland told Finans Norge's payments and digitalization conference on Wednesday that Norwegian banks should have a tokenization strategy, and that central banks should too. He said major settlements should keep running through central bank money, and that Norges Bank wants closer cooperation with other Nordic and European central banks on future settlement systems.

Why it matters: Norges Bank must still decide whether Norway will join TETOS, a European tokenized-settlement project — a decision Hægeland suggested could shape how far tokenization and traditional settlement end up running side by side.

Source: Norges Bank official: banks need a tokenization strategy — Kaupr

On a conference panel, Hægeland said Norway has no current plans for a customer-facing digital krone, but that Norges Bank would be ready to launch one if needed. He doesn't expect the digital euro to change that assessment, seeing limited use in Norway outside of European tourists and cross-border spending.

Why it matters: Sweden's Riksbank asked its parliament in October to prepare possible digital-krona legislation, citing geopolitics and stablecoin growth — a reminder that Norway's neighbours aren't waiting as long to act.

Source: Norges Bank: Ready if digital central bank money becomes necessary — Kaupr

We livestreamed from the conference on LinkedIn and Kaupr — find the full coverage in the Digitalization and Payments section on kaupr.io.

In Kaupr's first guest blog in a while, Firi Denmark country manager Karina Rothoff Brix argues Trump's influence on crypto as an asset class is overstated — it's the SEC and CFTC, not Congress, driving the rulemaking forward. The CLARITY Act fell 49–50 in the Senate in September, and she expects no new legislation soon. Crypto-friendly politicians won in both parties, even as the industry lost in Ohio despite spending over $60 million on the race.

Source: Crypto isn't doomed just because Trump lost Congress — Kaupr Blog, by Karina Rothoff Brix (Firi)

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Wishing you a great Friday — and welcome back Sunday morning for the next edition of Kaupr Digest.

Best regards
Morten Myrstad
Founder & Editor