Business briefing — November 13, 2026.

Microsoft 365 outage disrupts services across 74 countries as shares fall premarket

Microsoft said an outage affecting Exchange Online disrupted Outlook, Teams and Copilot, with reports spanning 74 countries and partial recovery not sustained. The company cited unavailable servers and an overwhelmed secure-connection process, and said it had no indication of malicious activity. MSFT traded down 2.77% before Friday’s open, according to Yahoo Finance.

What changed An initial partial recovery failed to hold, leaving restoration unresolved rather than establishing a durable improvement.

Why it matters The disruption reached essential communications workflows: public agencies lost email or reported operational effects, while companies postponed an earnings call and rerouted customer messages.

What to watch next Microsoft has promised a post-incident report after restoration; whether the coincident network configuration change contributed remains unresolved.

White House nominates four candidates to fill SEC and CFTC vacancies

The White House nominated Steven Levine and Kristin Johnson for SEC seats, and Nathan Anonick and Matthew Rowland for CFTC positions; all require Senate confirmation. The nominees include two Republicans and two Democrats, and the CFTC selections have worked on the CLARITY Act. The report says the compressed Senate calendar adds uncertainty to confirmation timing.

Why it matters Confirmation would broaden decision-making at a CFTC currently run by one commissioner. The SEC can already act under its amended quorum rule, so vacancies do not amount to a regulatory shutdown.

What to watch next Senate committee hearing dates remain unannounced; scheduling is the next unresolved procedural milestone, not a confirmed event.

Bitcoin drops below $69,000 as leveraged crypto positions are liquidated

Bitcoin fell about 6.8% over 24 hours to near $68,660 on Friday, its weakest level since August, while approximately $1.41 billion in leveraged positions were liquidated, according to figures cited in the report. Nearly 89% of liquidations were long positions. The report also points to recent ETF outflows and expectations of higher U.S. interest rates as pressures on market sentiment.

What changed Bitcoin moved from above $73,700 in the preceding session to roughly $68,660 in early Asian trading on November 13.

Why it matters Leveraged traders face forced exits when collateral becomes insufficient; those closures can amplify a falling market rather than merely record losses.

What to watch next The November 12 ETF outflow tally remains incomplete because BlackRock and Fidelity figures were still missing; the final total is an open question.

Nakamoto defers $60 million Kraken loan payment as bitcoin collateral loses value

Nakamoto Holdings amended its loan agreement with Payward Interactive, deferring a $60 million payment due in December 2026 by one year; the remaining $105 million is due in June 2027. The company pledged 3,030 bitcoin as collateral, worth about $208.5 million at the price cited, against $165 million outstanding. The filing says a further decline could require repayment or additional collateral and could ultimately trigger liquidation.

What changed The amendment moves the $60 million payment from December 4, 2026, to December 4, 2027, eliminating scheduled principal payments for the rest of 2026 without moving the separate June 2027 maturity.

Why it matters Nakamoto could still face demands for cash or additional bitcoin if collateral deteriorates. Crossing the liquidation threshold would allow Kraken to sell pledged coins.

What to watch next The put options expire December 25; whether they are replaced matters because expiry would remove protection below $55,000. The next debt maturity is June 30, 2027.

smartTrade acquires Celoxica to expand into listed-market execution technology

smartTrade Technologies acquired Celoxica, adding execution infrastructure for listed equities, futures, fixed income and options across more than 80 venues. The companies say Celoxica’s market access, execution engines and pre-trade risk tools complement smartTrade’s workflow, pricing and distribution products. They did not disclose financial terms or quantify expected gains from the integration.

What changed smartTrade’s workflow, pricing and distribution business now includes specialist market-access and execution infrastructure—functions institutions often buy separately.

Why it matters Celoxica gains access to smartTrade’s distribution network of more than 250 clients, creating a sales opportunity rather than evidence of new revenue already secured.

What to watch next Whether the combined offering delivers measurable performance benefits remains open; the announcement supplies no comparative measurements for an integrated product.

Upbit suspends Osmosis token transfers after blockchain stops producing blocks

Upbit temporarily halted OSMO deposits and withdrawals after the Osmosis blockchain stopped producing blocks, while trading remained available. Bithumb reported similar restrictions and Coinbase reported transfer delays; infrastructure provider QuickNode said the network stalled at block 74,955,152. Initial announcements identified no confirmed security breach or customer-asset theft.

What changed Upbit subsequently marked the suspension notice completed, although the reporting did not independently establish the exact restoration time.

Why it matters OSMO customers could continue trading on centralized platforms while transfers remained delayed: exchange trading availability did not ensure that deposits and withdrawals could settle.