Today in crypto: a former Coinbase lawyer launched his campaign for New York State Attorney General, BlackRock’s iShares Bitcoin Trust (IBIT) led November’s record ETF exodus, with $2.47 billion in outflows, accounting for 63% of the $3.79 billion pulled from US spot Bitcoin ETFs, and Treasury Secretary Scott Bessent’s appearance at a newly opened Pubkey in Washington, D.C. sparked excitement across the Bitcoin community.
Ex-Coinbase attorney to run for New York Attorney General
Former Coinbase policy lawyer Khurram Dara has launched his campaign for New York State Attorney General, setting up a 2026 challenge to incumbent Letitia James.
In his announcement Friday, Dara pointed to his “regulatory and policy experience, particularly in the crypto and fintech space,” as key qualifications for the role.
As previously reported by Cointelegraph, Dara had been signaling a potential run since August, arguing that James has unlawfully targeted the crypto industry in New York.
After leaving Coinbase, Dara worked at Bain Capital Crypto — a digital-asset–focused arm of the investment firm — until at least July.
Since taking office in 2019, James has faced criticism from the cryptocurrency community for initiating enforcement actions against companies, including Genesis and KuCoin.
BlackRock Bitcoin ETF sheds $2.47 billion in November as outflows hit record $3.79 billion
US spot Bitcoin exchange-traded funds saw another sharp reversal on Thursday, erasing a brief moment of relief earlier in the week.
After breaking a five-day outflow streak with $75.4 million in inflows on Wednesday, the funds were hit with fresh redemptions of $903 million Thursday — the biggest outflow day in November and one of the largest single-day outflows since the products were launched in January 2024, according to Farside Investors.
The $3.79 billion withdrawal puts November on track to be the worst month on record for US spot Bitcoin (BTC) ETF outflows if the remaining days fail to offset this month’s redemptions.
The figure has already surpassed February’s $3.56 billion, which held the record for the largest monthly outflow since the ETFs debuted.
Investment giant BlackRock’s iShares Bitcoin Trust (IBIT) ETF is the largest driver of the historic November outflows. The product has seen $2.47 billion in net redemptions so far this month, accounting for roughly 63% of the total $3.79 billion withdrawn from all US spot BTC ETFs.
Bitcoiners lose their mind after Scott Bessent walks into a Bitcoin bar
The Bitcoin community lit up on Thursday after US Treasury Secretary Scott Bessent made an unannounced appearance at the launch of Washington’s new Bitcoin-themed bar, Pubkey.
“Having the Secretary of the Treasury at the Pubkey DC launch seems like a moment I could easily look back on and say ‘wow, it was all so obvious,” Bitcoin treasury company Strive chief investment officer Ben Werkman said in an X post on Thursday.
Steven Lubka, Nakamoto’s vice president of investor relations, called it “the sign you have been waiting for.”
Many other prominent Bitcoiners, including Bitcoin analyst Fred Krueger, Gemini Chief of Staff Jeff Tiller, Bitcoin podcaster Natalie Brunell, and Bitcoin Policy Institute co-founder David Zell, also viewed Bessent’s appearance as a hugely positive sign for Bitcoin.
#ExCoinbase #Lawyer #Runs #BlackRock #Leads #BTC #Outflows