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# Hemi Pulse - November 13, 2026
- URL: https://news.hemi.xyz/hemi-pulse-november-13-2026/
- Published: 2026-11-14T00:00:00.000Z
- Updated: 2026-11-14T00:01:05.000Z
- Description: Hemi's weekly recap on yield, DeFi, ecosystem, and community updates.
- Author: Hemi Labs
- Tags: Hemi, Bitcoin, Ethereum, Yield

| ![hemi](https://storage.ghost.io/c/54/c6/54c6f660-26c3-4ce3-8ea1-ea7e37a8cc90/content/images/2026/07/hemi-logo-positive.png)PulseFriday13 November 2026Bitcoin finance, weekly · 7 to 13 November · Published by Hemi LabsFRIDAY THE 13THBitcoin breaks below $70,000.Washington fills the bench.The week in five lines**Bitcoin fell below $70,000** on 13 November, its lowest level since August, and is on track for a sixth straight weekly loss.**US spot ETFs lost $880M** from 9 to 12 November, extending outflows to six straight sessions.**MSCI will drop Strategy and Metaplanet** from its indexes at the close on 30 November.**The White House nominated two SEC and two CFTC commissioners,** including two who worked on the CLARITY Act.**The DOJ moved to seize $1.2B** of the Binance theft and broke up a $400M North Korean deepfake scheme.**By the numbers**Week to 13 November; ETF flows through 12 November$68,951Bitcoin, −8.8% on the week−$880MUS spot ETF flows, four days−$14.2BStablecoin supply, 30 days20Fear and Greed Index, down from 285.3%BTC loan rate on Base, peak 11.9%+2,857BTC added at Spark, +35%01THE LEADHot Inflation, Fleeing Funds, and a Six-Week SlideBitcoin slid from about $75,800 to below $70,000 this week. A hot CPI print locked in a December rate hike, and ETF holders kept selling.Bitcoin price, dailyUSD, 00:00 UTC, 3 to 13 November 80.4K 69.0K 345678910111213NowGrey: daily open. Orange: 13 November, 18:58 UTC. Axis starts at $64,000\. Source: DefiLlama**CPI ran hot.** October prices rose 0.4% against 0.3% expected, and core rose 0.3% against 0.2%. Traders fully priced a December hike, and Fed Governor Waller floated 50 basis points. [Bitcoin Foundation](https://bitcoinfoundation.org/news/bitcoin/hot-october-u-s-cpi-sends-bitcoin-and-ether-lower/?ref=news.hemi.xyz)**PPI ran cooler.** Producer prices rose 0.3% against 0.4% expected on 13 November, and Bitcoin briefly reclaimed $70,000\. [Coin Republic](https://www.thecoinrepublic.com/2026/11/13/us-ppi-inflation-rises-65-as-markets-weigh-size-of-december-fed-rate-hike/?ref=news.hemi.xyz)**Support gave way.** Bitcoin lost the short-term holder cost basis near $75,600 on 8 November, then the $73,000 level Glassnode flagged as key. [The Crypto Desk](https://thecryptodesk.substack.com/p/the-crypto-desk-thursday-12-november)**Longs paid for it.** Liquidations topped $750M on 12 November, $634M of it in longs, the same day news of Nvidia's CEO stepping down hit tech futures. [The Block](https://www.theblock.co/newsletters/the-daily/2026-11-12-bitcoin-12-week-low-strategy-metaplanet-msci-more-crypto-news-439049?ref=news.hemi.xyz)OUR READRates are now the story. A December hike is fully priced, the 10-year yield sits above 5%, and the dollar is near a 19-month high. Leverage has been flushed and larger wallets are accumulating, per Glassnode, but buyers are waiting on the Fed.02MARKETS AND INSTITUTIONSETF Outflows Stretch to Six Straight SessionsUS spot Bitcoin funds have shed $2.8 billion across the last ten sessions, with one inflow day in between.US spot BTC ETF net flows$ millions, daily, 30 October to 12 November+75 −643 −399 −116 −430 −412 −201 −95 −300 −28430234569101112Orange: inflow. Grey: outflow. 13 November not yet reported. Source: [Farside](https://farside.co.uk/bitcoin-etf-flow-all-data/?ref=news.hemi.xyz)**BlackRock's IBIT** accounted for $765M of the $880M that left from 9 to 12 November. [Farside](https://farside.co.uk/bitcoin-etf-flow-all-data/?ref=news.hemi.xyz)**Stablecoins shrank.** Supply fell $14.2B in the 30 days to 9 November, the fastest contraction since June 2022, per Glassnode. [Bitcoin.com](https://news.bitcoin.com/stablecoins/stablecoin-supply-sheds-15-billion-in-biggest-drop-since-terra/?ref=news.hemi.xyz)**Institutions** **MSCI drops Strategy and Metaplanet** at the close on 30 November under its non-operating company rule. MSCI-linked funds hold about 3.1% of Strategy's shares. [The Block](https://www.theblock.co/newsletters/the-daily/2026-11-12-bitcoin-12-week-low-strategy-metaplanet-msci-more-crypto-news-439049?ref=news.hemi.xyz)**Strategy kept buying,** adding 1,036 BTC in the week to 8 November for 850,364 BTC in total. [The Crypto Desk](https://thecryptodesk.substack.com/p/the-crypto-desk-thursday-12-november)**Deutsche Bank went live** with custody for bitcoin, ether, USDC, EURC, and EURAU for institutional and corporate clients in Europe on 11 November. [The Crypto Times](https://www.cryptotimes.io/2026/11/11/deutsche-bank-launches-bitcoin-ether-stablecoin-custody-service-for-european-institutions/?ref=news.hemi.xyz)**Spark pulled in 2,857 BTC**Seven-day change in BTC posted with lendersBTC with lenders, 7-day change6 to 13 NovemberSpark +35.3%Aave v3 +4.4%Babylon +0.7%Morpho, cbBTC +0.5%Compound v3 −0.4%Venus −3.0%Lombard LBTC −4.8%Morpho, kBTC −6.3%Now: Aave 68,783; Morpho cbBTC 50,289; Babylon 41,060; Spark 10,961; Venus 8,009; Compound 7,452; Lombard 6,532; Morpho kBTC 5,746 BTC. DefiLlama, Morpho API.03BITCOIN YIELDA One-Day Rate Spike, Then CalmThe rate to borrow USDC against cbBTC on Base, the largest BTC-backed loan market on Morpho, doubled to 11.9% on 7 November, then settled back to 5.3%.Borrow rate, cbBTC to USDC on Morpho, BaseVariable APY, daily, 5 to 13 November5.8% 5.7% 11.9% 5.6% 5.6% 5.6% 5.4% 5.3% 5.3% 5678910111213Morpho API.**Borrowing eased** to $1.59B from $1.63B a week ago, while cbBTC posted on Morpho held at 50,289 BTC.**Ethereum mainnet's cbBTC market** costs 5.1% on $302M borrowed, in line with Base.**Bitcoin DeFi held** at about 52,700 BTC, with Babylon up 0.7% to 41,060 BTC and Lombard's LBTC backing down 4.8% to 6,532 BTC, per DefiLlama.04POLICY AND SECURITYWashington Fills the Bench as the DOJ Chases Binance's BillionsFour nominees head to the Senate, prosecutors moved on the Binance theft, and attackers kept probing the wallets and servers around crypto.**SEC nominees:** Kristin Johnson, a former CFTC commissioner focused on custody and DeFi rules, and Steven Levine, nominated to succeed Hester Peirce. [The Block](https://www.theblock.co/news/regulation/2026-11-12-white-house-crypto-picks-sec-cftc-439175?ref=news.hemi.xyz)**CFTC nominees:** Nathan Anonick and Matthew Rowland, both of whom worked on the Senate Agriculture Committee's portion of the CLARITY Act. [The Block](https://www.theblock.co/news/regulation/2026-11-12-white-house-crypto-picks-sec-cftc-439175?ref=news.hemi.xyz)**Agencies aligned:** the SEC filed a brief backing the CFTC's approval of perpetual futures on individual US stocks. [The Block](https://www.theblock.co/newsletters/the-daily/2026-11-12-bitcoin-12-week-low-strategy-metaplanet-msci-more-crypto-news-439049?ref=news.hemi.xyz)**Binance follow-up:** the DOJ won court authorization to seize or restrain $1.2B of the stolen funds, with $2.7B frozen in all. [Decrypt](https://decrypt.co/383208/north-korea-stole-400-million-crypto-deepfake-video-calls?ref=news.hemi.xyz)**FaceStealer:** the FBI disrupted a North Korean scheme that used deepfake video calls to steal more than $400M over 18 months. [Decrypt](https://decrypt.co/383208/north-korea-stole-400-million-crypto-deepfake-video-calls?ref=news.hemi.xyz)**New alliance:** Tron, Tether, and Chainalysis formed a Digital Crime Task Force to freeze illicit USDT on Tron. [The Block](https://www.theblock.co/newsletters/the-daily/2026-11-12-bitcoin-12-week-low-strategy-metaplanet-msci-more-crypto-news-439049?ref=news.hemi.xyz)**The week's incidents**As of 13 NovemberIncidentStatusUnocoin serversLogins off since 9 Nov; says no customer crypto lostLedger developer kitSends transaction details by default; Ledger says it keeps noneBitcoin CoreThree bugs disclosed, fixed in 2025; about 9% of nodes still exposedFaceStealer$400M+ over 18 months; FBI seized infrastructureSources: [The Crypto Desk](https://thecryptodesk.substack.com/p/the-crypto-desk-thursday-12-november), [Decrypt](https://decrypt.co/383208/north-korea-stole-400-million-crypto-deepfake-video-calls?ref=news.hemi.xyz)**Status board**As of 13 NovemberItemNext[SEC and CFTC nominees](https://www.theblock.co/news/regulation/2026-11-12-white-house-crypto-picks-sec-cftc-439175?ref=news.hemi.xyz)Senate committees[CLARITY Act](https://www.orrick.com/en/Insights/2026/10/The-CLARITY-Act-Stalls-in-the-Senate-Whats-Next-for-Digital-Asset-Regulation?ref=news.hemi.xyz)Lame duck or new Congress[MSCI removals](https://www.theblock.co/newsletters/the-daily/2026-11-12-bitcoin-12-week-low-strategy-metaplanet-msci-more-crypto-news-439049?ref=news.hemi.xyz)Effective 30 Nov[Fed rates](https://bitcoinfoundation.org/news/bitcoin/hot-october-u-s-cpi-sends-bitcoin-and-ether-lower/?ref=news.hemi.xyz)Hike priced for 8 to 9 Dec[GENIUS Act rules](https://www.theblock.co/news/regulation/2026-10-20-blockchain-association-clearer-rules-genius-act-421092?ref=news.hemi.xyz)Effective Jan 202705THIS WEEK IN HEMIArcade Winners Crowned as the ZK Miner Heads to Beta TestersFrom this week's Midweek with Max: the hemiProve ZK miner build is nearly in testers' hands, the veHEMI audit has about three weeks to run, and Hemi Arcade: Turbo Edition named its winners.**ZK miner to beta testers.** A build and testing instructions head to the beta testers channel shortly, with a Proxmox VM guide on the way. Internal review caught a flaw in third-party software it uses, now being patched upstream.**hemiProve beyond blockchains.** An update in testing lets developers pull proof data from anywhere online.**veHEMI audit, about three weeks.** Retroactive claims and the PoP points conversion follow once it clears.**AI audits help, not replace.** AI catches common bugs like reentrancy, freeing human auditors for deeper logic flaws. Oxygen still gets a professional audit, and Hemi has started running AI audits on some partners deploying to the network.**Multisig guardrails.** Hemi is exploring threshold signatures and the onchain guardrails it built for Vetro: a quick sign-off for emergencies like pausing a protocol, stricter signers for upgrades, and possibly post-quantum signatures in the mix.**Office Hours:** Protocol Engineering Office Hours comes off the regular schedule, with special editions possible around big milestones. [Full recap](https://hemi.xyz/blog/midweek-with-max-ai-audits-multisig-guardrails-and-hemi-arcade-winners?ref=news.hemi.xyz)FROM MIDWEEK WITH MAXOn institutions that want legal recourse, Max said the goal is systems that don't need a counterparty. Confidence comes from audits, battle testing, and time with real money onchain. Nobody needs a legal agreement with Satoshi to hold Bitcoin.**Hemi Arcade: Turbo Edition winners**16 onchain games, two livestreams, nearly seven hours of play16Onchain games shipped, 7 Sep to 27 Oct5Category winners10,000HEMI per winner, plus merchAwardGameBest OverallPixel Fighter by CreatorMost InnovativeASHFALL by AlphaBest HorrorNight Shift by CreatorMost OriginalBrotown by MudokanCommunity AwardHemi Graveyard: The Golden Ticket by UttamCOMMUNITY · HEMI ARCADECreator Goes Two for TwoPixel Fighter pits the Hemi team and mascots against each other, and Night Shift sends you into an abandoned hospital at 2:13 a.m. Play every entry in the Hemi Discord's contest channel. The next edition arrives in January.[Meet the winners](https://hemi.xyz/blog/meet-the-winners-of-hemi-arcade-turbo-edition?ref=news.hemi.xyz)**Earn on Hemi: SushiSwap and BrownFi pools**APR on Merkl, including incentives, as of 13 November, 19:40 UTCPoolAPRTVL[HEMI-USDC.e](https://app.merkl.xyz/opportunities/10970935178586256329?ref=news.hemi.xyz) Sushi**56.27%**$60K[HEMI-USDT](https://app.merkl.xyz/opportunities/17345204897459357218?ref=news.hemi.xyz) Sushi**52.71%**$124K[hemiBTC-VUSD](https://app.merkl.xyz/opportunities/4022707304947230100?ref=news.hemi.xyz) BrownFi**18.90%**$235K[WBTC-hemiBTC](https://app.merkl.xyz/opportunities/15342484602909041814?ref=news.hemi.xyz) BrownFi**5.59%**$76KJurisdictional restrictions may apply. Rates may fluctuate based on market conditions.[About the BrownFi partnership](https://hemi.xyz/blog/brownfi-algebra-finance-and-merkl-partner-to-build-hemi-liquidity-hub?ref=news.hemi.xyz)06CALENDARAhead: Nvidia, Fed Minutes, and the MSCI CutDateEvent17 NovNvidia earnings18 NovFOMC minutes from the October hold30 NovMSCI removes Strategy and Metaplanet at the close8–9 DecFOMCJan 2027GENIUS Act rules take effectFigures as of 13 November 2026, 19:00 UTC, from DefiLlama, Morpho, Farside, and Merkl. Hemi Pulse is published by Hemi Labs for information only. It is not investment, legal, or tax advice. Digital assets involve risk. |
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