American Bitcoin and Strategy purchased over $205 million in Bitcoin, defying Coinbase’s warning of corporate treasuries exiting the market. American Bitcoin acquired 1,414 Bitcoin, increasing its reserve to 3,865, while Strategy, led by Michael Saylor, added 390 BTC, totaling 640,808 BTC. South Korea’s Bitplanet plans to acquire 50 BTC, and Prenetics Global raised $150 million for Bitcoin treasury. Coinbase reveals Ethereum purchases driven by Bitmine, raising concerns of fading corporate demand. Large players show caution in the market, with a $19 billion leveraged wipeout prompting more cautious positioning. Bitcoin recovered 3% post-leverage wipeout, with potential Federal Reserve rate cuts in December. Coinbase Research warns of a critical turning point in corporate crypto treasuries, shifting to a competitive phase with differentiated strategic positioning. Strategy adjusts its sales threshold and Nasdaq tightens supervision for digital asset treasuries. Source: Cryptonews.com.

Read more at Yahoo Finance: Coinbase Says Bitcoin Treasuries Are ‘Ghosting’, But Two Firms Just Bought $205M