New Arch Partnership, Tech Stocks Drop, & SoftBank Surprise

View from the Arch #108

November 14, 2025

Arch is excited to announce we’re partnering with BitcoinTreasuries.net to connect institutional BTC treasuries to secure, over-collateralized credit that's built for real balance sheets.

Clients get:

  • Non-rehypothecated BTC loans sized to treasury strategy

  • Qualified custody via Anchorage

  • Transparent benchmarking from the team that tracks holdings

  • Direct access to specialists for bespoke loan structures

You can read more about our partnership driving the treasury-powered digital credit boom here.

This Week in Crypto

Unfortunately, another bummer of a week in the crypto world.

Bitcoin dropped below $100K this week for the first time since late June, hitting lows around $96-$97K yesterday, its weakest level in about six months and a 23% pullback from October’s all-time-high of $126K. 

  • Spot ETFs saw $870M in net outflows on Thursday alone, the second-largest daily withdrawal since launch, and over $1.1B in crypto positions were liquidated in 24 hours. 

  • Ethereum fared even worse, erasing all its 2025 gains and dropping below $3,300, down 20% over the past month.

There’s not one clear reason for the massive drop, more like a storm of macro headwinds. 

  • Rising Treasury yields and a stronger dollar squeezed risk assets across the board, with Bitcoin trading more like a high-beta tech stock than a safe haven. 

  • AI-associated stocks got hammered on valuation concerns, with the Nasdaq falling 1.9% on Tuesday, and crypto followed suit. 

  • Net institutional buying dropped below daily mined supply for the first time in seven months, removing key support that could have propped up prices. 

And sadly the carnage wasn’t limited to just Bitcoin -

  • XRP plunged 7.3% despite the historic launch of Canary’s XRP ETF, which pulled in $58M in its first day. 

  • Solana dropped 8%, and Cardano fell 8%. 

  • The total crypto market cap fell to around $3.47T.

Here’s hoping for a better week next week! 

This Week in TradFi

Bit of a mixed week domestically:

  • The longest government shutdown in U.S. history officially ended Wednesday night. Markets briefly celebrated, but it was short-lived.

  • On Thursday, markets posted their worst performance since October 10, with the Dow falling 1.65%, the S&P 500 dropping 1.66%, and the Nasdaq declining over 2%. 

    • Technology stocks bore the brunt of the sell-offs, with Disney down almost 8%, Tesla down almost 7%, and Palantir down almost 7%. 

  • The Fed also delivered a series of hawkish statements that dampened expectations for another rate cut in December. 

    • Analysts now have the probability of a December rate cut at 50-50. 

    • And to make things more complicated, the White House warned that October’s unemployment data may never be fully published, meaning the central bank will have to operate under incomplete information.

On the international front:

  • European markets hit multiple record highs between November 10-12 before pulling back yesterday.

    • The STOXX 600 increased 1.4% on Monday, followed by another gain on Tuesday and Wednesday. 

    • The rally was driven by optimism from the U.S. shutdown ending, with the financial sector leading the gains. 

    • Thursday saw a reversal, with the STOXX 600 dropping 0.6%, Germany’s DAX down 1.39%% and the UK’s FTSE 100 declining a little over 1%. 

  • Asian markets also declined sharply today, tracking alongside the U.S.’s losses.

    • Japan’s Nikkei 225 fell 1.77%, with SoftBank dropping almost 7% after announcing it sold its entire Nvidia stake. 

This Week in Tech

SoftBank took the tech world by surprise this week, deciding to sell its entire $5.8B stake in Nvidia to go “all in” on AI. 

  • SoftBank has been increasing its investments in OpenAI and participating in multiple joint ventures like the $500B Stargate project. 

  • According to CEO Masayoshi Son, SoftBank is all in on OpenAI, with total planned investments in the company reaching about $33.2B. 

  • SoftBank famously exited Nvidia in 2019, when they sold a $4B stake in the company for $3.6B, shares that would now be worth more than $150B.

  • The move also rattled the market, with Nvidia shares down almost 3%. 

In other AI news, Anthropic said it has signed an ambitious new data center partnership with UK-based neocloud provider Fluidstack, committing $50B to building facilities across the U.S. 

  • The data centers will be located in Texas and New York, coming online throughout 2026. 

  • This is Anthropic’s first effort to build custom infrastructure, though competitors have been spending a lot more. Meta has committed to building $600B of data centers over the next three years, while OpenAI and Oracle have planned $500B in infrastructure spending. 

As usual, below are some fundraising announcements, M&A, and tech personnel changes that caught our eye:

Arch is building a next-gen wealth management platform for individuals holding Alternative Assets. Our flagship product is the crypto-backed loan, which allows you to securely and affordably borrow against your crypto.

Disclaimer: None of the above is financial advice, seriously.