Crypto News

Italian banks, led by the Italian Banking Association, have endorsed the ECB’s digital euro project while urging a multi-year cost-sharing plan to offset high implementation expenses. The ECB’s Governing Council approved a 2027 pilot and aims for a 2029 full rollout, pending EU legislation in 2026. MEP Fernando Navarrete suggested a scaled-down digital euro to safeguard private schemes like Wero. ABI head Marco Elio Rottigni proposed a dual-track approach that pairs the central bank’s digital euro with bank-issued digital currencies. Last month, the ECB signed framework agreements with seven tech firms, including Feedzai and Giesecke+Devrient, to develop fraud detection, offline payments and alias lookup features. Traders should monitor pilot outcomes, regulatory milestones and cost models for their potential influence on banking liquidity and digital asset markets.

The Gujarat CID’s Cyber Crime Centre has dismantled a ₹200 crore USDT laundering network operating on BitGet and Binance. Surat resident Chetan Gangani was arrested for converting proceeds from 386 cyber fraud cases into USDT using nearly 100 mule bank accounts. Over four months, he facilitated ₹10 crore in transactions and earned a 0.10% commission per deal. Investigators traced fund flows through seven layers, uncovering transfers to Pakistan and Dubai and locating over ₹25 crore in a Pakistan-based Binance wallet. The case highlights the role of USDT in obscuring money trails. Authorities warn crypto traders to verify investment offers, monitor for USDT laundering risks, and report suspicious activity to the national cybercrime portal.

On November 9, XRP formed a death cross on the daily chart as its 50-day moving average fell below the 200-day moving average, confirming a sustained downtrend. The price dropped below the $2.40 support level and now trades near $2.26, with resistance clustered at $2.50–$2.60. The RSI around 40 and declining volume signal weak buying momentum. Historically, similar death cross setups have led to 15–20% drawdowns, suggesting potential downside toward $1.90. Short-term traders may adopt bearish or cautious positions, while long-term holders could view deeper dips as accumulation opportunities if Ripple’s fundamentals improve. A renewed surge in volume or positive regulatory news is needed to break above key moving averages and invalidate this bearish outlook.

Russian crypto fraudster Roman Novak and his wife Anna were abducted in early October in the Hatta region of the UAE after being lured to a fake investment conference. Believing Novak’s crypto wallets held billions, kidnappers demanded a ransom in cryptocurrency. When the couple refused, they were brutally murdered and dismembered, with remains discovered near a Hatta mall and in the Fujairah desert. CCTV footage, bloodstains, and a hidden knife provided critical evidence. Authorities have arrested seven Russian suspects, including a former police officer and two ex-soldiers, on charges of murder, financial fraud, and illegal asset transfers. Novak, convicted in 2020 for a 730 million-ruble fraud, had marketed the Dubai-based Fintopio platform, selling fake TON tokens and falsely claiming ties to Telegram and Arab royalty. This case shows how a high-profile crypto fraudster remains a target for violent ransom attempts. The couple’s lavish facade hid deep debts and past convictions. Their children have been brought back to Dubai under guardianship. The incident underscores security risks at in-person crypto events and the dangers of KYC data leaks.

21Shares has submitted an 8(a) amendment to its Form S-1, officially starting the 20-day SEC review clock for its Spot XRP ETF. Bloomberg senior ETF analyst Eric Balchunas confirmed the update. The filing comes under Section 8(a) of the Securities Act. If the SEC does not object, the Spot XRP ETF could earn automatic approval. This move mirrors similar amendments by Franklin Templeton, Grayscale and Canary Capital. These coordinated filings underscore growing institutional momentum for a United States-based XRP ETF. Analysts expect trading to begin within weeks, replicating the rapid launch pattern seen with Solana ETFs. XRP’s price surged over 6% to $2.32 on heightened investor interest. Global XRP-linked products like Rex-Osprey, Teucrium’s 2x Long Daily XRP and Purpose’s spot ETFs already manage hundreds of millions in assets. Approval of a U.S. Spot XRP ETF would expand market liquidity and broaden institutional adoption. Traders should watch for any SEC objections before the deadline. A smooth approval could trigger further bullish momentum. Conversely, delays may cap short-term gains in the XRP market.

Stripe-backed Tempo led a $25 million funding round for Commonware on November 8, 2025. The deal integrates Commonware’s open-source library into high-performance crypto infrastructure. It aims to accelerate blockchain payments by achieving sub-250 millisecond transaction finality on a permissionless network. Commonware, founded in 2024, is already profitable with seven staff and four clients. Each client pays over €0.85 million annually for deployment and support. The fresh capital, above its $63 million seed valuation, strengthens its cryptographic and consensus components under real-world conditions. Since September, Tempo has grown from five to around 50 employees. It has added ETH researcher Dankrad Feist and acquired Ithaca to expand its developer ecosystem. Backed at a $5 billion valuation, Tempo and partners Stripe and Paradigm aim to challenge Ethereum (ETH) and Solana (SOL) in stablecoin and cross-border payments. Traders should monitor this partnership. Faster transaction finality and enhanced blockchain payments infrastructure may shift volume away from existing chains. This development could affect fee dynamics on Ethereum and Solana and reshape the stablecoin payments market.

XRP fell over 9% to $2.19 after Ripple’s Swell conference, wiping out earlier gains from a $500 million funding round led by Citadel Securities and Fortress Investment Group. Despite ETF amendment filings by Canary, Bitwise and Franklin Templeton briefly lifting XRP above $2.30, the token failed to break the $2.40 resistance or reclaim its $2.50 peak. Bearish technical signals—XRP slipping below its 50-day moving average and an RSI matching 2021 correction lows—combined with weak buying pressure despite 165 million XRP in trading volume. Traders now eye support at $2.10 and the proposed Section 8(a) Canary XRP ETF as a potential catalyst; a sustained close above $2.30 is crucial to avert further downside.

Evernorth’s $78M XRP losses follow large XRP acquisitions before a downturn, underscoring digital asset treasury strains. These XRP losses highlight the risk of holding volatile altcoins. Other DATs face similar unrealized losses. MicroStrategy’s shares fell over 26% as Bitcoin retreated, though its $74,000 average cost per BTC remains profitable. BitMine now reports nearly $2.1 billion in unrealized losses on 3.4 million ETH, including 565,000 ETH bought during the decline. On-chain data from CryptoQuant and BitcoinTreasuries show that poor timing and liquidity risk amplify losses for funds exposed to XRP and Ethereum. Analysts compare the squeeze to late-1990s tech bubbles and suggest Bitcoin-focused treasuries may fare better thanks to higher liquidity and clearer regulations. Traders should monitor price volatility, diversify holdings, reinforce treasury policies, and track regulatory updates to navigate ongoing market risks.

The Blockchain Payments Consortium, launched on November 6 by Fireblocks, Solana Foundation (SOL), TON Foundation (TON), Polygon Labs (MATIC), Stellar Development Foundation (XLM), Mysten Labs and Monad Foundation, aims to set a common cross-chain payments standard for stablecoin transfers. The Blockchain Payments Consortium will define shared technical specifications—including data formats, API patterns and compliance checks—and collaborate with banks, regulators and payment providers to reduce friction between networks, simplify audits and reporting, and bridge crypto payments with traditional finance. The move follows 2024’s surge in stablecoin payments, which topped $15 trillion and outpaced Visa and Mastercard volumes. Clear interoperability standards are expected to enhance liquidity, lower transaction costs and speed up settlement times, driving broader institutional adoption of crypto payments and improving market stability.

LeverUp has launched its LP-free decentralized perps exchange on the Monad layer-1 blockchain. The platform offers traders zero net fees by redistributing all protocol fees to participants. It supports up to 1001x leverage and uncapped market depth. All positions and fee flows are fully verifiable on-chain through an on-chain risk engine. LeverUp integrates its native stablecoin LVUSD for stable settlements and DeFi composability. By removing liquidity provider constraints, LeverUp scales open interest independently of TVL. This model reallocates fees back to users and eliminates liquidity fragmentation. Testnet access is live at app.leverup.xyz, with further integrations and updates planned.

At the America Business Forum in Miami, President Donald Trump pledged to make the U.S. a Bitcoin superpower by establishing a Strategic Bitcoin Reserve funded by seized crypto and managed by the Treasury. He urged businesses to embrace cryptocurrencies to boost the economy and reduce reliance on the dollar. The administration is drafting technology-agnostic crypto regulation and hosted a digital asset summit to strengthen U.S. Web3 competitiveness. A March 2025 executive order and proposed Bitcoin Act would formalize Bitcoin as a national reserve asset. Trump’s Bitcoin superpower plan counters China’s digital asset advances and underscores America’s bid for long-term financial dominance in the global digital asset market.

Future Holdings has raised 28 million CHF ($34.5 million) to build its Europe-focused Bitcoin treasury platform in a strategic funding round led by Fulgur Ventures, Nakamoto and TOBAM. The Swiss-based firm will scale its institutional Bitcoin treasury strategy by increasing on-balance-sheet BTC reserves and enhancing multisignature custody and wallet infrastructure under Swiss governance standards. It also plans to launch proprietary research dashboards, treasury management tools and advisory services to support corporate Bitcoin adoption. The integrated platform covers Treasury Operations, Research & Analytics, Infrastructure & Platform development and Strategic Advisory. The leadership team features Chairman Richard Byworth, CEO Sébastien Hess, co-founders Marc Syz, Julian Liniger and Bitcoin pioneer Adam Back. Switzerland’s zero base rate and low bond yields offer an ideal environment for institutional Bitcoin treasury growth.

Balancer v2 exploit drained $117 million from Composable Stable Pools across Ethereum, Arbitrum, Avalanche, Optimism, Polygon, Gnosis, Base, Berachain and Sonic. The attack exploited a rounding error in the EXACT_OUT mode of the batchSwap upscale function, allowing attackers to bypass minimum supply checks. Balancer paused vulnerable v6 pools with Recovery Mode, while v5 pools remained at risk until intervention. In the Balancer v2 exploit, white-hat groups and security teams have recovered over $21 million so far. StakeWise reclaimed 5,041 osETH and 13,495 osGNO. Base MEV and BitFinding secured about $750,000. Monerium froze €1.3 million in EURe. Berachain initiated an emergency hard fork to fully restore its $12.8 million loss. Sonic and other chains froze attacker addresses. Balancer v3 was unaffected. This incident highlights the risks of smart contract rounding errors in DeFi protocols. Traders should avoid affected pools, monitor security updates and audits, and favour protocols with proven real-time monitoring and cross-chain recovery frameworks.

Dinari, Chainlink and S&P Dow Jones Indices will launch the S&P Digital Markets 50 Onchain Index on Avalanche in Q4 2025. The S&P Digital Markets 50 Onchain Index is a tokenized benchmark combining 35 US-listed equities with 15 major digital assets. Chainlink oracles will supply real-time price feeds, Proof of Reserve, NAVLink and SmartAUM services to ensure data integrity. Dinari’s dShares product will tokenize each security one-to-one, backed by regulated custodians and settled onchain. This tokenized index bridges traditional finance and DeFi. It offers institutional-grade transparency, programmable finance and reduced settlement times. The new index opens global access and enhanced compliance for traders seeking diversified onchain exposure to equities and crypto.

MicroStrategy holds about 641,205 BTC (≈$64 billion) and faces a $1.01 billion convertible note maturing September 15, 2027. Analyst Willy Woo says the company can settle this debt with cash, stock or both, as long as its share price stays above $183.19 (implying Bitcoin near $91,500). Experts agree that only a prolonged, severe bear market would force a Bitcoin sell-off. MicroStrategy’s shares recently hit a seven-month low, but low liquidation risk supports market stability. Woo warns that if Bitcoin fails to rally during the 2028 bull run, the firm may partially liquidate. Long-term forecasts from ARK Invest and Coinbase still predict Bitcoin could reach $1 million by 2030.

ZKsync co-founder Alex Gluchowski has proposed a new revenue-driven tokenomics model for the ZKsync governance token. The plan ties the token’s value to on-chain and off-chain network fees—interoperability, settlement and messaging—and to licensing fees from enterprise software. Under the model, all revenues flow into a governance fund that supports token buybacks, staking rewards, token burns and ecosystem grants. Gluchowski says these measures aim to boost token utility and fund platform upgrades, security enhancements and public goods. The proposal builds on Matter Labs’ June "ZKnomics" roadmap and signals ZKsync’s expansion into connected zero-knowledge chains. The team will seek community feedback via forums and X before finalizing detailed tokenomics. If approved, the new model could drive sustainable growth and strengthen ZKsync’s economic foundation.

Leverage Shares by Themes has expanded its single-stock leveraged ETF lineup with GEMG, the first U.S.-listed 2x leveraged ETF offering daily 2x exposure to Gemini Space Station (GEMI). Trading began on November 5, 2025, following the October 27 launches of BLSG (2x Long BLSH Daily ETF) and BMNG (2x Long BMNR Daily ETF). Each fund carries an industry-low 0.75% management fee. With these additions, Themes now offers 34 single-stock ETFs across technology, energy, consumer and financial sectors. Designed for active traders, the funds provide daily resets to amplify returns while enabling focused risk management through 2x leveraged ETF strategies.

Zama has acquired KKRT Labs, a zero-knowledge proof R&D firm backed by Vitalik Buterin, StarkWare and others. The deal accelerates Zama Protocol’s ZK rollups scalability to over 10,000 confidential transactions per second on Ethereum and Solana. KKRT Labs brings expertise in high-performance proving architectures and modular ZK rollups. The acquisition deepens Zama’s technical capabilities in blockchain scalability and privacy. It also paves the way for confidential stablecoin payments, private DeFi and on-chain asset management. Vitalik Buterin’s work on agentic AI risks and the GKR protocol underscores the critical role of secure, high-speed ZK proof systems in next-generation blockchain applications. This ZK rollups expansion positions Zama at the forefront of scalable, privacy-focused blockchain solutions.

On November 5, 2025, Sam Bankman-Fried’s legal team filed an SBF appeal at the Second U.S. Circuit Court of Appeals in New York, challenging his 2023 fraud conviction and 25-year sentence. The lawyers argue Judge Lewis Kaplan exhibited judicial bias by pressuring jurors into a quick verdict, ridiculing SBF’s testimony and blocking key defense evidence—particularly proof that FTX held sufficient assets to cover customer losses. They contend that prosecutors, media and FTX’s new management presumed guilt before trial, denying a fair defense. The appeal, supported by the SBF appeal team, seeks to vacate the conviction or secure a new trial before a different judge. Meanwhile, SBF is pursuing a presidential pardon after former President Trump granted clemency to Binance co-founder Zhao “CZ” Changpeng. His team maintains that FTX experienced a liquidity crisis, not bankruptcy, and that he never intended to defraud users. This SBF appeal underscores ongoing legal risks in the crypto sector and may influence market sentiment around FTX-related assets.

Ripple has launched its spot prime brokerage in the US after acquiring Hidden Road for $1.25 billion. The spot prime brokerage offers institutional services including OTC spot trading, custody, settlement, and credit facilities. US clients can execute cross-margin OTC spot trades with CME futures and options. This integrated platform delivers deep liquidity, 24/7 trading, instant confirmations, and real-time reporting. It consolidates licenses, technology, and infrastructure into a single clearing, financing, and execution system. The launch complements Ripple’s On-Demand Liquidity solution and follows other strategic moves like the GTreasury acquisition and XRP reserve raise. Ripple aims to boost ecosystem liquidity, support on-chain payments, and capture more market share in the regulated US market.

OpenAI’s $38B AWS cloud deal secures dedicated cloud computing services over seven years, with capacity deployed by end-2026 and expanded into 2027. The AWS cloud deal shifts OpenAI beyond Microsoft, ensuring Nvidia GB200 and GB300 GPUs in low-latency EC2 UltraServer clusters for training and ChatGPT inference. This partnership accelerates agentic AI workloads and ties AWS more closely into OpenAI’s Stargate initiative to build 30GW of AI compute with $400B in planned investments. The move also sets a new benchmark for computing costs, highlights surging demand for AI infrastructure, and could fuel emerging AI-driven crypto applications. Traders should watch major cloud providers and GPU hardware stocks for broader market implications.

Strategy has filed to issue 3.5 million Euro STRE Preferred Stock shares at €100 each, offering a 10% annual cumulative dividend, payable quarterly from December 31, 2025. The euro-denominated STRE perpetual preferred shares rank junior to the firm’s €8.25B existing debt and sit below its STRF and STRC securities. Net proceeds will fund general corporate purposes and expand the Bitcoin treasury. Dividends will be financed through future capital raises and at-the-market offerings; unpaid dividends accrue interest at 11%, rising 1% per quarter to 18%. The offering targets professional and qualified investors in the EEA and UK, excluding retail. Barclays, Morgan Stanley and Moelis act as joint bookrunners. The Euro STRE Preferred Stock reflects growing demand for Bitcoin-backed securities in Europe and diversifies corporate funding channels.

At Hong Kong FinTech Week 2025, Standard Chartered CEO Bill Winters forecast that cash will vanish and all currencies will exist as digital currency processed on a blockchain settlement layer. He praised Hong Kong regulators for balancing innovation with compliance. Blockchain will underpin every transaction in his vision of global financial infrastructure. HSBC CEO Georges Elhedery outlined a $13.6 billion plan to privatize Hang Seng Bank and invest in education and research through partnerships with the Hong Kong University of Science and Technology. Financial Secretary Paul Chan Mo-po emphasised the city’s role as a gateway to mainland China and a hub for cross-border wealth management. Meanwhile, Coinbase CEO Brian Armstrong revealed intentions to build his entire startup process on blockchain. These developments highlight growing institutional adoption of blockchain and digital currency, reinforcing Hong Kong’s status as a leading fintech hub. Crypto traders should watch regulatory frameworks and institutional flows, as increased participation may spur liquidity and bullish momentum across major tokens.

Kraken has launched crypto-collateral futures for EU traders under the MiFID II and MiCA frameworks. Effective November 3, 2025, Bitcoin (BTC), Ethereum (ETH) and major stablecoins can serve as margin collateral on Kraken Pro across more than 150 perpetual futures markets, with up to 10× leverage. Margin is calculated in USD. Volatility-based haircuts discount riskier assets and may trigger liquidations if equity falls below maintenance levels. The crypto-collateral futures offering boosts capital efficiency, speeds liquidity and lowers transaction costs by eliminating fiat conversions. This compliant roll-out follows Kraken’s February 2025 acquisition of a Cyprus investment firm to secure MiFID II licensing, complementing MiCA approval from the Central Bank of Ireland. Q3 2025 revenue hit $648 million, up 50% QoQ and 114% YoY, underlining strong institutional demand for regulated leveraged trading in Europe.

FTSE Russell and Chainlink have launched onchain equity data feeds via Chainlink DataLink. This FTSE Russell Chainlink partnership brings Russell 1000, Russell 2000, Russell 3000 and FTSE 100 onchain across 60+ blockchains. The FTSE Russell Chainlink initiative also publishes crypto benchmarks onchain. The feeds deliver real-time, tamper-proof equity data and crypto index values. Covering over $18 trillion in managed assets, the integration addresses data silos, cuts settlement times and lowers operational costs. Traders can embed this onchain equity data into algorithmic strategies, DeFi protocols, tokenized assets, collateralized lending and potential onchain ETFs. This move signals growing institutional adoption of blockchain oracles and boosts market liquidity and efficiency.

In Q2 2026, Chainlink and Chainalysis will launch an Automated Compliance Engine that integrates Chainalysis’s real-time KYT risk intelligence with Chainlink oracles. This cross-chain solution lets institutions define policy rules—such as whitelist controls, transfer limits and transaction halts—that ACE enforces automatically on any blockchain. When KYT flags a suspicious address, ACE pauses transfers or blocks withdrawals in real time, replacing manual reviews and fragmented setups. The Automated Compliance framework features a “build once, enforce everywhere” model using Chainlink’s Cross-Chain Token Compliance Extension and unified identity layer. A Monitoring and Reporting Manager delivers auditable logs and alerts, while the combined system reduces operational overhead. By automating compliance, the partnership lowers barriers for banks and asset managers, enhances transparency and boosts DeFi and tokenized asset liquidity. Market analysts predict this regulatory highway will accelerate institutional adoption and drive long-term growth in decentralized finance.

Tharimmune has raised $540 million in a private placement to launch its crypto treasury strategy by acquiring Canton Coin (CC). This crypto treasury strategy is one of the largest corporate investments in tokenized assets to date. Led by DRW and Liberty City Ventures, the round saw participation from ARK Invest, Polychain Capital and Kraken. Tharimmune will allocate funds to purchase CC tokens, support operations and expand as a super validator on the Canton Network. By running additional nodes, Tharimmune aims to earn CC rewards and boost network performance. Its Nasdaq stock jumped 14% intraday and closed 8.4% higher. Canton Network is a permissioned enterprise blockchain backed by Goldman Sachs, HSBC, BNP Paribas, Paxos, Deutsche Bank and Cboe. The move highlights growing institutional demand for tokenized assets and real-world assets, which now exceed $34.6 billion on-chain.

Ripple has launched Ripple Prime in the US, its new institutional digital asset prime brokerage. Ripple Prime integrates over-the-counter (OTC) spot trading, cross-margining and cleared derivatives—including swaps and CME futures—for major cryptocurrencies and stablecoins such as XRP and RLUSD. The platform follows Ripple’s acquisition of Hidden Road, consolidating FX, futures, swaps and fixed income infrastructures in one system. This unified setup delivers deeper liquidity, professional-grade settlement and risk management, bridging traditional trading desks and crypto markets. Concurrently, Ripple’s US dollar–backed stablecoin RLUSD surpassed a $1 billion market cap within a year of launch. RLUSD supports compliant institutional settlements and faster cross-border payments. These developments strengthen Ripple Prime’s prime brokerage offering and reinforce institutional access to crypto trading, potentially boosting market liquidity and adoption.

DeFi protocol Balancer faced its sixth major security incident since 2020 after a coordinated hack on November 3, 2025. The latest Balancer hack exploited a manageUserBalance access control flaw in Balancer V2, draining $116.6 million from multi-chain liquidity pools. Attackers transferred 6,587 WETH, 6,851 osETH and 4,260 wstETH before Balancer’s team flagged the breach. This incident follows five prior exploits—including a 2023 Euler flash-loan spillover and a 2024 Velocore fork bug—with cumulative losses now topping $128 million. Balancer has launched an investigation and is offering a 20% white-hat bounty to recover stolen funds. Traders should brace for continued volatility, monitor Balancer’s security updates, and reassess risk in complex AMM designs. This Balancer hack underlines persistent DeFi security risks and may keep BAL volatile.