SKN | Crypto Daily: KuCoin Gets MiCA Nod, Bitcoin Slumps, Balancer Plans Reimbursements

Crypto markets continued to shift under regulatory, technical and security pressures today, with major developments spanning Europe’s MiCA framework, Bitcoin’s weakening monthly performance and Balancer’s next steps toward reimbursing users after a major exploit.

KuCoin Secures MiCA License in Austria as It Expands Across Europe

KuCoin has become the latest major exchange to obtain approval under the European Union’s Markets in Crypto-Assets Regulation (MiCA). The company announced that its European entity, KuCoin EU, has received authorization from Austria’s Financial Market Authority, allowing it to operate across 29 countries in the European Economic Area.

Malta is the only EEA jurisdiction excluded under this license.

KuCoin CEO BC Wong called the approval a milestone for the platform’s long-term compliance strategy, emphasizing that MiCA represents one of the most rigorous regulatory standards globally. KuCoin filed its license application in early 2025, joining other authorized service providers such as Bitpanda, Amina Bank, Bybit, Cryptonow and FIOR Digital.

The exchange cited Austria’s early MiCA implementation, regulatory stability and deep talent pool as reasons for choosing the country as its regulatory base.

Bitcoin Heads Toward Its Worst November Since 2019 — but Analysts See Opportunity

Bitcoin is tracking toward its steepest November decline in seven years. The price has fallen nearly 17% month-to-date, bringing it close to the losses recorded in November 2019.

Despite the downturn, some analysts remain optimistic. LVRG research director Nick Ruck said the pullback signals an opening for long-term investors, noting that excessive leverage and weak projects have largely been flushed out of the market. He emphasized that the current reset creates a healthier foundation heading into 2026.

Historically, November is one of Bitcoin’s strongest months. However, this year’s pattern diverged sharply from previous cycles — a change some analysts attribute to the influence of U.S. spot Bitcoin ETFs launched in early 2024. According to research head Justin d’Anethan of Arctic Digital, institutional participation is reshaping market timing and momentum, even if the short-term impact adds volatility.

Balancer Community Puts Forward Reimbursement Plan After $116M Exploit

The Balancer community has begun formal discussions on distributing a portion of the funds recovered from the protocol’s recent $116 million exploit. A proposal submitted Thursday outlines a repayment structure covering $8 million retrieved by white hat hackers and internal rescue teams. A separate $20 million recovered by liquid staking platform StakeWise will be distributed directly to its own users.

The proposal recommends that reimbursements be “non-socialized”—meaning only the pools that suffered losses would receive payouts, calculated strictly on a pro-rata basis according to each user’s share of Balancer Pool Tokens (BPT). Payments would be denominated in the same tokens users originally deposited, avoiding imbalances caused by market volatility.

The November attack was described as one of the most complex of the year by Cyvers CEO Deddy Lavid, underscoring the critical need for stronger user protection as DeFi security risks continue to evolve.