Good morning, friends — I’m Matt, and this is your Daily Crypto News for Tuesday, November 11, 2025. Let’s get into it.
SOFTBANK DUMPS NVIDIA, LOADS OPENAI
SoftBank unloaded ~$5.83B of Nvidia and trimmed T-Mobile to help finance a ~$40B push into OpenAI and allied bets (chips, robots, data centers, energy). Vision Fund marked a $23.4B gain on paper, valuing OpenAI at ~$260B pre — lifting SoftBank’s YoY net income to ~$19.3B. Translation: rotating from peak hardware exposure into data + AI platforms while the street questions AI payoffs and Altman’s financing optics.
My Take
At ~$5T, Nvidia was always going to breathe. SoftBank is essentially swapping late-cycle semis beta for platform optionality. If OpenAI’s compute bottlenecks persist, owning the platform still only works if you also solve supply (chips, power, land, cooling). Masa is trying to straddle both sides of that moat.
GEMINI’S FIRST REPORT CARD AS A PUBLIC CO: OOF, BUT…
Gemini printed a Q3 net loss of ~$159.5M, missing targets as IPO, marketing, and stock comp swelled. Stock slid up to 12% AH. Bright spots: revenue +52% QoQ to ~$49.8M, transactions +26%, services +111%, volume to ~$16.4B on stronger institutions. The crypto card crossed 100K accounts and ~$350M quarterly spend — best user-acquisition quarter in 3+ years. Still, opex ($171.4M) dwarfs revenue.
My Take
It’s the classic “growth is back, profits later” story. Relative to Coinbase, Gemini’s scale gap is the headline. Give them two clean quarters of opex discipline and sticky institutional flow, and the narrative flips from “why public?” to “small-cap operating leverage.”
McRIB SEASON: MEME-ONOMICS
McDonald’s confirmed the McRib’s U.S. comeback. Yes, the meme says “markets rally during McRib season.” Reality: correlation’s messy — some McRib windows preceded rips (2017, 2020–21, 2024), others saw selloffs (2018, 2022). It’s probably pork-cycle economics, not crypto fate.
My Take
Fun indicator, not a trading system. If you’re hedging with sandwiches, at least get fries.
SHUTDOWN THAW: RISK BOUNCE ON CAPITOL HILL PROGRESS
Risk assets perked as the Senate advanced a deal to end the record shutdown; prediction odds lean toward resolution by Nov 15. Market has mostly discounted the proposed $2,000 tariff dividend; odds favor a December rate cut. Bitcoin bounced off $100K, but couldn’t flip $107–108K from resistance into support.
My Take
The second payroll restarts, velocity picks up — that’s real crypto liquidity, not vibes. But until BTC reclaims $112–120K, “bearish drift with face-rippers” remains the default tape.
ETH WATCH: WHALES BUY, L2S CHEAPEN
On-chain: wallets holding 10k–100k ETH have added ~7.6M ETH since late April (mid-sizers sold). Daily ETH transactions +~25%. Analysts eye $3,000–$3,400 as key support. The Dec 3 “Fusaka” upgrade aims to cut rollup costs and boost scale; cheaper L2s may trim ETH burn at the margin.
My Take
Accumulation + activity + scaling is the right cocktail — but macro is the bartender. If the shutdown ends and the Fed cuts, ETH has room to run; if not, expect chop inside $3.0–3.6K.
LISTENER MAILBAG
Obsidian: “AI bubble is real; quantum will boost Bitcoin.”
Matt: AI is bubbly in spots, yes — but cycles ≠ zero. Quantum? Near-term it spooks more than it boosts. Long-term, post-quantum primitives will be table stakes.
Leif: “Thoughts on Monad listing at Coinbase?”
Matt: Parking this for CryptoKyle — his wheelhouse. Thanks for listening!
Jason J.: “Tariff dividend as a stablecoin?”
Matt: Brilliant, politically messy. A USDC-style implementation routed through banks is plausible; a WLFI version would be a constitutional knife fight. Either way, it’d be weaponized as a partisan cudgel within 24 hours. And you know my stance: corporate stables are looking worse than CBDCs lately.
CRYPTO PRICES — 9:09 AM ET
Bitcoin (BTC): $104,308 (-1.8%)
Ethereum (ETH): $3,530 (-2.1%)
XRP: $2.44 (-4.3%)
BNB: $976 (-2.3%)
Solana (SOL): $162 (-3.6%)
TRON (TRX): $0.298 (+1.4%)
Dogecoin (DOGE): $0.176 (-3.0%)
Cardano (ADA): $0.574 (-3.2%)
Total Market Cap: $3.52T (-2.0%)
Bitcoin Market Cap: ~$2.00T
Ethereum Market Cap: ~$426B
Fear & Greed: 31 (Fear)
Notables: ZEC (-23%) got clipped after a monster run; UNI firmer on airdrop chatter.
SUMMARY
SoftBank rotates from peak semis into platform AI, Gemini eats IPO costs while growing where it counts, McRib returns (please don’t chart it), and D.C. finally blinks on the shutdown — the only catalyst that actually fixes liquidity. ETH’s whales are buying; BTC still needs a clean reclaim of $107–112K to flip the script. Until then: prepare for chop, not doom.
Happy HODLing, Everyone.
References & Affiliates
💼 SoftBank Dumps $5.8B Nvidia Stake to Double Down on OpenAI
📉 Gemini Shares Drop After First Earnings, Rising Costs
🍔 McDonald’s Exec Stirs Bitcoin Crowd With McRib Return
📈 Bitcoin Up as Shutdown Clouds Clear
🏦 Ethereum Spot Order Activity Shows Institutional Re-Entry
🧭 Bitcoin Key $107K Rejection — Watch Support Levels
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Disclaimer
This content is not financial, legal, or tax advice. It reflects personal opinions for educational and entertainment purposes only.
I am not a financial advisor or expert, and I do not guarantee any specific outcome.
Always do your own research before making any investment or financial decisions.
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