Crypto News

Singapore’s Monetary Authority (MAS) is accelerating institution-led tokenization via coordinated pilots and new rules due in 2026. Building on Project Guardian and recent SGD Testnet trials (including DBS, OCBC, UOB, JPMorgan and Standard Chartered), MAS will run a 2026 CBDC pilot to settle tokenized government bills and has launched Project BLOOM and Project Orchid to test tokenized bank liabilities, regulated stablecoins and wholesale CBDC settlements on permissioned ledgers. MAS prioritizes wholesale CBDC and regulated bank participation over retail speculative platforms, enforcing AML/KYC, full-reserve backing and rapid redemption for stablecoins pegged to SGD, USD or EUR. The forthcoming stablecoin regime will require issuers to hold high-quality liquid assets and clear redemption mechanisms. MAS is also pursuing cross-border interoperability — including MOUs and joint experiments with Deutsche Bundesbank, Bank of England and Bank of Thailand — to standardize international digital settlements and reduce fragmentation. For traders: expect reduced systemic risk from unregulated stablecoins, greater on‑chain settlement efficiency for institutional flows, and tighter regulatory scrutiny that may limit retail trading products but boost trust in regulated tokenized assets.

Monad’s mainnet has launched, triggering a sharp rally in its native token MON and drawing significant market attention. Early price action included an initial dip from the sale price followed by a roughly 40% surge as exchanges listed MON (Coinbase, Kraken, Gemini) and major DeFi projects deployed or announced integrations (Uniswap, Curve, Stargate, Wormhole) and MetaMask support arrived. A high-profile week-long Coinbase sale drew ~86,000 participants and $269m in commitments; an anti-flip rule for early buyers helped temper immediate sell pressure. Traders saw heavy volume, notable volatility and thin order books around the genesis event. Key short-term catalysts are continued exchange listings, token unlocks or vesting schedules, marketing pushes and on-chain activity from ecosystem launches and validator announcements. Analysts warn of typical post-mainnet risks: concentrated liquidity, listing-driven pump-and-dump patterns, rapid profit-taking by early holders and competition with established L1s (notably comparisons to Solana’s throughput and low fees). For traders, the event presents momentum-driven short-term trading opportunities but elevated risk — watch exchange listing timelines, unlock/vesting schedules, large holder addresses, order-book depth and on-chain deployment metrics for signals. Long-term upside depends on sustained developer traction, real-world dApp activity, decentralization of validators and token distribution.

Polymarket has secured CFTC approval via an Amended Order of Designation, enabling the decentralized prediction market to re-enter the US as a fully regulated trading platform. This CFTC approval follows a five-month probe by the CFTC and DOJ—during which the FBI seized CEO Shayne Coplan’s devices—after Polymarket suspended US services in 2022. The new order allows US traders to place bets through futures commission merchants and registered securities brokers under federal exchange rules. Under direct CFTC supervision and Commodity Exchange Act Part 16, Polymarket now commits to enhanced market monitoring, settlement processes and detailed trade reporting. Having launched a beta last month, Polymarket plans a full rollout soon, marking a key milestone that could broaden market access and strengthen confidence in digital asset trading.

South Korea’s Dunamu, parent of Upbit, and Naver Financial have agreed to merge in a share-swap deal, pending board approvals by November 27. Upbit’s 24-hour trading volume hit $2.1 billion, trailing Bullish’s $2.2 billion, underscoring the exchange’s liquidity ahead of the IPO. The merger paves the way for a Nasdaq IPO, giving U.S. investors direct access to South Korea’s dynamic crypto market. Regulators must clear the deal to address monopoly concerns over combining a payments provider and an exchange. Post-merger, Naver Financial plans to launch a won-backed stablecoin under new domestic crypto regulations. This Nasdaq IPO follows several crypto firms such as Bullish and Gemini going public in the U.S., and could attract institutional capital while integrating South Korean crypto assets into global markets.

Japan’s Financial Services Agency will require all licensed crypto exchanges to maintain dedicated crypto liability reserves starting in 2026. These reserves must cover losses from hacks, fraud or unauthorized withdrawals and will be calculated based on trading volume and past security breaches. Approved insurance policies may offset reserve requirements, easing the cash burden. The amendment to the Payment Services Act adds to existing cold-storage rules, with detailed formulas and enforcement to be set by a Financial System Council working group. The FSA will also mandate segregation of customer assets and a framework for asset return during bankruptcies. Simultaneously, cryptocurrencies will be reclassified as financial instruments under the Financial Instruments and Exchange Act to align regulation with securities firms. While smaller exchanges may face higher costs and tighter liquidity, major operators that already hold reserves or policies stand to gain from increased market confidence and stability.

Franklin Templeton launched its SEC-approved XRP ETF (XRPZ) on NYSE Arca on November 24, offering regulated exposure to XRP. The XRP ETF holds physical XRP tokens in a grantor trust, with daily NAV based on the CME CF reference rate. On debut, strong demand drove 768,000 shares in trading volume, as XRP jumped 8.25%. Initial inflows of $62.6 million boosted total XRP ETF assets to $628.6 million, reflecting growing institutional flows. Partners include Coinbase as custodian and BNY Mellon as administrator. Traders should monitor ETF inflows and regulatory developments in the digital asset market for insights into market liquidity and XRP adoption trends.

21Shares has expanded its suite of crypto ETPs on Nasdaq Stockholm by launching six new products. The initial wave included ETPs for Aave, Cardano, Chainlink and Polkadot, plus two index-based baskets, following a Solana (SOL) ETF debut. A subsequent launch introduced single-asset ETPs tracking Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Polkadot (DOT), Avalanche (AVAX) and Cardano (ADA). These additions raise 21Shares’ total crypto ETP offerings on the Swedish exchange to 16, complementing listings on SIX Swiss Exchange, Xetra and Amsterdam Euronext. The move meets rising demand from Nordic institutions for regulated, exchange-listed digital assets. With about half of its $8 billion AUM held in US ETFs co-issued with Ark Invest, 21Shares aims to boost liquidity, trading volumes and market access. The launch highlights growing institutional flows and aligns with broader European adoption amid new spot XRP ETFs in the US.

On November 21, a malformed delegation transaction exploited a long-standing bug in Cardano’s protocol, triggering an unexpected Cardano chain split and creating two incompatible ledgers. Staking pool operators were urged by IOHK and the Intersect group to update their core nodes to the latest version, which restored consensus without any double-spend losses. The pseudonymous developer “Homer J” admitted using AI-generated code and bypassing the testnet, prompting founder Charles Hoskinson to refer the incident to the FBI as a potential criminal act. ADA prices tumbled by 16% before recovering, underlining how a Cardano chain split can impact market stability and trader strategies. The incident also led to the resignation of an Input Output Global employee over legal concerns about routine pen testing, raising questions about governance and network resilience in blockchain ecosystems.

Animoca Brands fund management approval has been granted in-principle by the Abu Dhabi Financial Services Regulatory Authority (FSRA). This follows the October in-principle crypto brokerage licence from Dubai’s Virtual Assets Regulatory Authority (VARA). Under the new framework, the Hong Kong-based firm can manage collective investment funds for institutional clients and centralise its portfolio of over 600 web3 gaming, digital rights and infrastructure investments. The dual approvals reflect the UAE’s push to grow as a regulated digital assets hub. Animoca Brands is also advancing tokenisation, including a limited partnership fund on the XRP Ledger. Chairman Yat Siu will speak at the 2025 Global Blockchain Show in Abu Dhabi. This Animoca Brands fund management approval provides institutional crypto investors with a clear regulatory pathway in the Middle East.

Bitkub, Thailand’s largest crypto exchange, plans a Hong Kong IPO by 2026 to raise about $200 million. The move follows a paused SET listing and a 2025 Thai market slump, with new IPOs down over 12% and the main index off by 10%. Bitkub dominates over 80% of local trading volume, hitting $60.75 million in 24-hour volume. Hong Kong’s clear crypto regulation from the SFC and HKMA, stablecoin legislation, and unified global order books make the Hong Kong IPO appealing. Traders expect the Bitkub IPO to enhance exchange liquidity and market access. Raised capital will fund regional expansion and product development.

Grayscale has secured NYSE Arca approval to convert its Dogecoin (DOGE) and XRP trusts into spot ETFs, set to begin trading Monday under tickers GDOG and GXRP. Under the Securities Exchange Act of 1934 and recent SEC guidance, issuers can list once they meet listing standards without additional sign-off. These new spot ETFs join Grayscale’s Bitcoin, Ethereum and Solana offerings, offering institutional and retail investors lower investment thresholds, enhanced liquidity and regulated DOGE ETF and XRP ETF exposure. Bloomberg analyst Eric Balchunas confirmed the approvals and noted a Chainlink (LINK) spot ETF may follow soon, marking ongoing expansion of U.S. crypto spot ETFs.

Tenaga Nasional Bhd (TNB) has lost over RM4.6 billion ($1.1 B) since 2020 to electricity theft by illegal crypto mining. A parliamentary filing shows nearly 14,000 sites bypassed or tampered with meters to power Bitcoin rigs undetected. Joint raids by TNB, police, regulators, and the MACC hit over 13,800 premises, seizing thousands of machines, including 120 rigs in Sarawak. TNB has logged 1,699 complaints, installed smart meters at substations, and plans AI analytics for real-time monitoring. Offenders face fines up to RM100,000 and five years in jail. Electricity theft now equals about 3% of TNB’s revenue, threatening Malaysia’s power grid stability. Industry groups call for mining-specific tariffs, licensing, and renewable energy models, forecasting RM700 million in investment, 4,000 jobs, and RM150 million in annual taxes from legalised crypto mining.

Over the past two weeks, Solana ETFs have drawn more than $400 million in net inflows even as major Bitcoin and Ethereum products saw outflows. Demand was led by new issuers such as Bitwise’s Solana Staking ETF (BSOL) and Grayscale’s GSOL, which launched in late October. Subsequent ETF launches from VanEck, Fidelity and Canary Capital broadened options and prompted fee waivers like VanEck’s 0.30% suspension until February 2026 (or $1 billion in assets). Institutional investors are attracted by low fees and built-in staking, positioning Solana ETFs as the first major altcoin product to gain significant US ETF traction after Bitcoin and Ethereum. The Solana DeFi ecosystem has also seen rising activity, reflecting growing synergy between institutional-grade infrastructure and retail demand. On the technical front, SOL recently dipped below its weekly 50-day moving average for the first time since July, signaling short-term bearish pressure. Analysts now eye a potential retracement to around $105 if downward momentum continues. Crypto traders should watch Solana ETF inflows closely as a gauge of price support. Steady institutional demand and staking yields may underpin SOL and set the stage for the next crypto cycle.

Spot Bitcoin ETFs recorded strong net inflows this week, with $524 million on Tuesday and $238.4 million on Friday, reversing a $903 million outflow. BlackRock’s IBIT led Bitcoin ETF flows, followed by Fidelity’s FBTC/FETH, Ark Invest’s ARKB, Grayscale’s GBTC and Bitwise’s BITB. Ethereum ETFs ended an eight-day outflow streak with $55.7 million inflows, driven by Fidelity’s FETH. Solana ETFs extended a 10-day inflow run, reaching $510 million since their October launch. Concurrently, Ether’s 15% weekly price drop triggered $460 million of long liquidations, but futures funding rates climbed to 6%, signaling renewed bullish sentiment. Bitcoin prices dipped to $103,000 before rebounding above $104,700. These Bitcoin ETFs flows underscore growing demand for crypto ETFs and may push prices toward the $108,000–$110,000 resistance zone.

Coinbase has launched ETH-backed USDC loans for eligible U.S. users on its Layer 2 network, Base. Powered by the Morpho protocol, the new DeFi offering lets borrowers use ETH collateral to secure up to $1 million in USDC without selling their holdings. These ETH-backed USDC loans are priced with variable rates, and borrowers must maintain an LTV below 86% to avoid automatic liquidation during ETH price swings. According to Dune Analytics, Base’s on-chain lending ecosystem has processed over $1.27 billion in loans, with roughly $800 million outstanding across more than 13,300 active wallets. This move strengthens DeFi adoption on Base and enhances ETH’s utility as collateral, paving the way for increased stablecoin lending activity. Coinbase plans to expand the product to include cbETH-backed borrowing and is leveraging recent DeFi integrations and regulatory clarity to deepen its lending services. The development underscores Coinbase’s strategy to drive DeFi growth and support stablecoin usage across its platforms.

Numerai Series C funding of $30 million was led by top university endowments, boosting its valuation to $500 million—a fivefold increase since 2023. Existing investors, including Union Square Ventures, Shine Capital and Paul Tudor Jones, participated in the financing round. Combined with JPMorgan Asset Management’s $500 million capacity commitment, Numerai’s assets under management reached $550 million, up from $60 million three years ago and on track for nearly $1 billion. The San Francisco–based AI hedge fund uses a global data science tournament to crowdsource machine learning models, rewarding accurate predictions with Numeraire (NMR) tokens. Its flagship Meta Model generated 25.45% net returns in 2024, with only one down month. Following the Numerai Series C announcement, the NMR token jumped over 40% to around $11.65 on CoinGecko, reflecting heightened institutional confidence. Numerai plans to use the proceeds to expand AI engineering, research capabilities and institutional products.

Tether has acquired digital asset custody platform Parfin to expand USDT’s presence among institutional clients in Latin America. The London and Rio-based firm, incubated by Mastercard and registered as a virtual asset service provider in Argentina, will extend on-chain settlement, tokenization and trade finance tools. Parfin’s integration with local banks and participation in Brazil’s CBDC pilot via the Rayls platform will bolster stablecoin liquidity for cross-border payments, remittances and asset tokenization. The move follows Tether’s recent backing of Bitcoin lending platform Ledn and affirms its pledge to strengthen USDT infrastructure in emerging markets. Latin America processed almost $1.5 trillion in crypto transactions from 2022 to 2025, driven by USDT and USDC usage amid high inflation and banking gaps. This acquisition underlines Tether’s commitment to global financial freedom and positions USDT for broader institutional applications.

Samourai Wallet CTO William Hill has been sentenced to four years in federal prison, plus three years of supervised release and a $250,000 fine, for operating an unlicensed crypto service. Prosecutors dropped money laundering charges after Hill pleaded guilty to running an unlicensed money transmission business. Authorities allege Samourai Wallet’s privacy tools—Whirlpool and Ricochet—processed over 80,000 BTC (around $2 billion) to obscure Bitcoin transactions. Hill will begin his term on January 2, 2026. The case marks a major enforcement action in crypto regulation, signaling increased scrutiny on privacy tools. Traders should monitor how tightening rules affect Bitcoin market sentiment and privacy coin adoption.

Digitap presale has raised nearly $1.8 million, delivering a 137% surge as traders flock to the $TAP token. The platform’s omnibank wallet combines over 100 cryptocurrencies and major fiat currencies in one app, offering zero-KYC access, Visa compatibility and support for 1.4 billion unbanked users. Trading at $0.0297 with forecasts of $0.0313 in the next phase, $TAP benefits from audited smart contracts, a rumored Tier-1 exchange listing and tokenomics that allocate 50% of platform profits to token burns and staking rewards. Analysts project up to 500× returns, outpacing a limited 3–4× upside for XRP amid bearish signals on SOL and XRP. With robust whale investment and broad utility, the Digitap presale stands out as traders seek triple-digit gains in the next altcoin rotation.

MicroStrategy has reiterated its readiness to withstand an 80–90% Bitcoin drawdown as Bitcoin volatility falls from near 80% in 2020 to about 50% today. Executive Chairman Michael Saylor forecasts continued declines in volatility, which he says signal a maturing market and improve long-term investment stability. The company holds 649,870 BTC at an average cost of $74,443, giving it a net asset value multiple of 1.11x after recent price corrections from 1.52x at October’s peak. Between November 10 and 16, MicroStrategy acquired 8,178 BTC for $835 million, refuting any sales rumors. Rising institutional investment—from Canada’s CPP pension fund to Florida’s pension board—underscores growing confidence in Bitcoin’s long-term store of value. Saylor predicts Bitcoin volatility will eventually stabilise at 1.5 times that of the S&P 500 while continuing to outperform traditional benchmarks.

Mt. Gox moved 10,608 BTC (around $953 million) from its cold wallet in its largest transfer in eight months. Since July 2024, creditor repayments have driven several large Bitcoin transfers, and the trustee recently extended the repayment deadline to October 2026. After this shift, Mt. Gox still holds 34,689 BTC (about $3.1 billion). On-chain data show no coins sent to exchanges. This suggests no immediate sell-off and limited market impact. Institutional demand and US spot ETFs have absorbed most new supply since mid-2024. Analysts warn of potential short-term volatility around creditor repayments. Traders should monitor Mt. Gox wallet activity for further Bitcoin transfers. Overall, this Bitcoin transfer signals a neutral outlook for the market.

AMINA Bank’s Hong Kong arm has secured a Type 1 license upgrade from the Securities and Futures Commission, becoming the first international bank to offer institutional crypto trading and custody services in Hong Kong. Operating through its newly licensed subsidiary AMINA HK, the bank can now support 13 digital assets — led by BTC, ETH, USDC and USDT — with SFC-compliant custody infrastructure for secure 24/7 trading and asset management. The move fills a gap in Hong Kong’s institutional digital asset market, targeting professional investors such as family offices, corporations and high-net-worth individuals. Having reported a 233% surge in trading volume on local exchanges in H1 2025 and recently obtaining an EU MiCA license, AMINA plans to expand into private fund management, structured products, derivatives and tokenized real-world assets.

Figment and OpenTrade have launched the “OpenTrade Stablecoin Staking Yield” product on Solana, offering a target 15% APR by combining Solana staking rewards with hedged perpetual SOL futures. With Crypto.com as custodian, the institutional-grade stablecoin staking yield solution provides segregated SOL custody, flexible deposits and withdrawals via Figment’s platform, and enhanced security backed by a16z Crypto and Circle. This approach historically outperforms standard Solana staking rates of 6.5–7.5% and addresses demand for compliant, staking-based yield following the US GENIUS Act’s ban on interest-bearing stablecoins. The product launch, alongside new Solana staking ETFs from REX-Osprey, Bitwise and Grayscale, underscores growing institutional interest in Solana staking. Despite SOL’s recent 19% price drop to around $135, the high-yield stablecoin staking yield strategy may attract fresh capital and boost network participation.

Gold advocate Peter Schiff has publicly challenged Michael Saylor to debate at Binance Blockchain Week in Dubai. He labeled MicroStrategy’s Bitcoin strategy a “fraud” and predicted a “death spiral.” Schiff argues that the firm’s Q3 net income of $2.8 billion and $8.42 EPS rely on unrealized gains from 640,808 BTC bought at an average cost of $74,032 per coin. He warns that the high-yield preferred shares issued to fund these purchases may never deliver promised returns. This could trigger mass sell-offs, block new debt issuance and bankrupt the company. The attack coincided with Bitcoin slipping below $99,000 and MicroStrategy’s stock dropping over 50% since July. The company’s market NAV ratio fell below 1 in November, only recovering to 1.21, well under the 2.0 threshold favored by treasury-focused investors. Some analysts note that MicroStrategy’s Bitcoin strategy offers leveraged public exposure to BTC, but warn of risks tied to aggressive accounting treatments and investor sentiment. Neither Michael Saylor nor MicroStrategy has confirmed debate participation.

BlackRock’s BUIDL Fund launched a new share class on BNB Chain, tokenizing over $2.5 billion in U.S. Treasuries for on-chain money market exposure. Supported by Securitize and Wormhole, the BUIDL Fund offers a stable 4% yield and enables institutional investors to use fund shares as off-exchange Binance collateral via Ceffu and triparty banking arrangements. The BUIDL Fund’s integration into BNB Chain broadens institutional access to regulated tokenization products. This move underscores growing institutional adoption of real-world assets on public blockchains and highlights BNB Chain’s appeal as a high-throughput, low-cost platform for tokenized securities and DeFi. Traders may view the development as bullish for capital efficiency and risk-managed yields in crypto markets.

TKO Group Holdings, parent of UFC and Zuffa Boxing, has signed a multi-year deal with Polymarket. Polymarket will power a Fan Prediction Scoreboard integrated into live UFC broadcasts and in-venue screens. The scoreboard delivers real-time data on global fan forecasts round by round. The partnership also extends UFC branding across social media and event signage to convert post-fight discussions into tracked markets on Polymarket. “By bringing prediction markets to the broadcast and arena, we’re giving fans a new way to be part of the action,” said Polymarket CEO Shayne Coplan. This move follows DraftKings’ recent integration of Polymarket’s clearing services, underscoring growing adoption of blockchain prediction markets in sports entertainment. Crypto traders should watch for increased Polymarket trading volume as sports audiences engage with decentralized markets.

dYdX governance passed Proposal #313 on November 13, 2025 with 59.38% support, boosting the dYdX buyback rate from 25% to 75%, effective immediately. Under the new framework, 75% of net protocol fees from perpetuals and derivatives will drive open-market repurchases and immediate staking of DYDX tokens, while 5% goes to the Treasury SubDAO, 5% to MegaVault reserves, and 15% funds operations. This aggressive revenue buyback marks one of the highest ratios in DeFi, aiming to reduce circulating supply, stabilize prices, enhance staking yield (potentially above 10% APY), and deepen liquidity and governance participation. The move follows the initial March 2025 v4 mainnet buyback launch and June emission cuts. As dYdX prepares its US market expansion later this year with reduced spot fees of 0.50%–0.65% and new spot trading on Solana and other assets, traders should monitor the buyback’s impact on DYDX token value, liquidity, and governance incentives.

RISE, the high-performance Ethereum Layer 2 network, has launched its onchain orderbook infrastructure with MarketCore and RISEx. MarketCore provides native orderbook primitives, risk engines and APIs on RISE’s millisecond-latency EVM, enabling permissionless spot and perpetual markets with shared liquidity. Its flagship DEX, RISEx, delivers CEX-grade perpetuals through deep liquidity, tight spreads and synchronous onchain execution. In a closed mainnet release this quarter, followed by public access in early 2026, RISE will expand its onchain orderbook ecosystem with options, structured products and prediction markets. Backed by the BSX Labs acquisition, these upgrades enhance DeFi composability, programmability and transparency, positioning RISE as the foundational layer for scalable global onchain trading.

Crypto Fear & Greed Index plunged to 15/100, marking its lowest reading since March and signaling extreme fear in the crypto market. Bitcoin’s price held above $100,000 even as retail participation waned and overall market sentiment deteriorated. Analysts at BitQuant highlighted that the Crypto Fear & Greed Index falling below 20 was unprecedented, while Santiment warned that such extreme bearish sentiment often precedes retail capitulation and accumulation by major stakeholders. Simultaneously, traditional markets remained cautious: the S&P 500 Fear & Greed Index stood at 35/100, and gold surged past $4,200 per ounce, driving capital rotation into safe-haven assets. Traders should monitor the Fear & Greed Index and Bitcoin–Gold pairing for potential inflection points, as extreme fear readings historically signal market bottoms and possible rebound opportunities.