Top Cryptocurrencies headlines for November 20, 2025

Top Cryptocurrencies headlines for November 20, 2025

Description: Daily crypto digest: Bitwise XRP ETF launches amid price dip, Kraken files for IPO, Bitcoin tests $90k support, and Zcash rallies 1000%.

Key Topics: Bitcoin, XRP, Ethereum, Kraken IPO, Solana ETF, Zcash, Regulation, Crypto Market, DeFi, HBAR

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Bitwise XRP ETF Debuts on NYSE Amidst Market Sell-Off; Price Dips Below $2.00

The long-awaited Bitwise XRP ETF began trading on the NYSE today under the ticker ‘XRP’, marking a significant milestone for institutional access to the asset.

Despite the historic launch, XRP’s price action has been bearish, slipping below the psychological $2.00 support level to trade near $1.90.

This ‘sell the news’ event coincides with broader market weakness, although trading volumes for the new product have been robust, suggesting strong underlying institutional interest despite immediate price suppression.

Market analysts warn that while the ETF launch validates XRP’s regulatory status following years of litigation, the immediate market structure remains fragile. Roughly 41% of the XRP supply is now underwater, a metric not seen since late 2024.

Investors are closely watching the $1.75 support zone; a failure to hold this level could signal a deeper correction, while a reclaim of $2.20 is needed to invalidate the current bearish momentum.

Bitcoin Whale ‘Owen Gunden’ Exits Market, Dumping $1.3 Billion BTC Stack

On-chain data from Arkham Intelligence has confirmed that early Bitcoin adopter Owen Gunden has completed the liquidation of his entire Bitcoin portfolio, valued at approximately $1.3 billion.

The sell-off, which concluded with a final $230 million transfer to Kraken today, has been a primary driver of the recent downward pressure that pushed Bitcoin briefly to $86,000 before a rebound.

This capitulation by an ‘OG’ whale—one who has held assets for over a decade—has rattled retail sentiment, contributing to the ‘Extreme Fear’ reading on the Crypto Fear & Greed Index.

However, institutional analysts argue that this distribution is being absorbed by new ETF entrants. The completion of Gunden’s exit removes a significant supply overhang, potentially clearing the way for price stabilization if ETF inflows can sustain their current pace.

Kraken Files Confidential S-1 for IPO, Seeking $100 Billion Valuation

In a major move for the crypto equity landscape, exchange giant Kraken has submitted a confidential filing to the SEC for an Initial Public Offering (IPO).

Sources suggest the exchange is eyeing a valuation north of $100 billion, buoyed by a recent $800 million pre-IPO fundraising round led by Jane Street and Citadel.

This move signals a maturing market where major infrastructure players are successfully transitioning to public ownership.

The IPO filing comes at a strategic time, just as the regulatory environment in the U.S. shows signs of thawing under the new administration.

If successful, Kraken’s listing would provide a new benchmark for crypto-equity valuations, potentially triggering a wave of similar filings from other private crypto firms.

The capital raised is expected to fund massive global expansion and the development of proprietary Layer-2 infrastructure.

El Salvador Defies IMF, Purchases $100M in Bitcoin During Market Dip

President Nayib Bukele announced that El Salvador has executed its largest single-day Bitcoin purchase since making the asset legal tender, acquiring roughly 1,090 BTC for approximately $100 million.

The purchase was timed near the recent bottom of $86,000, significantly lowering the nation’s average cost basis. This move brings the country’s total treasury holdings to over 7,400 BTC.

The purchase is a direct signal of defiance against the International Monetary Fund (IMF), which has repeatedly urged the nation to scale back its exposure to volatile digital assets.

For investors, this reinforces the narrative of sovereign adoption serving as a backstop during liquidity flushes, although critics argue it exposes the nation’s fiscal stability to outsized risk during prolonged bear markets.

Ripple Raises $500 Million at $40 Billion Valuation to Expand DeFi Ecosystem

Ripple has secured a massive $500 million funding round, valuing the company at $40 billion. The round saw participation from heavyweight institutional investors including Fortress, Citadel, and Brevan Howard.

The capital is earmarked for expanding the XRP Ledger’s (XRPL) DeFi capabilities, specifically focusing on the upcoming integration of native staking and smart contract functionalities.

This fundraise creates a dichotomy in the market: while XRP token price is suffering short-term volatility, the parent company is better capitalized than ever.

The involvement of Citadel suggests that traditional finance players are betting on Ripple’s infrastructure becoming a core component of global settlement layers, regardless of short-term token price action.

The funds will also support Ripple’s new prime brokerage services launched earlier this week.

Bitcoin ‘Death Cross’ Confirmed on Daily Chart, Signaling Potential Downside

Technical analysts have confirmed that Bitcoin’s 50-day moving average has crossed below its 200-day moving average, forming a ‘Death Cross’ pattern. Historically, this indicator has preceded significant corrections, although false signals are common in chop markets.

The pattern coincides with Bitcoin struggling to reclaim the $95,000 level, suggesting that momentum has firmly shifted to the bears in the short term.

However, contrarian analysts note that Death Crosses often occur near local bottoms as they are lagging indicators.

With the RSI approaching oversold territory and the ‘max pain’ price for options expiry looming, some traders expect a violent short-squeeze if Bitcoin can hold the $88,000 support level through the weekend.

Senate Committee Advances Mike Selig as New CFTC Chair

The Senate Agriculture Committee has advanced the nomination of Mike Selig to replace Caroline Pham as Chair of the Commodity Futures Trading Commission (CFTC).

Selig is viewed as a pro-innovation regulator who has previously advocated for clear distinctions between digital commodities and securities. His nomination now moves to a full Senate vote, where confirmation is expected.

This leadership change is critical for the crypto industry, as the CFTC is expected to take primary jurisdiction over the spot markets for Bitcoin and Ethereum under proposed legislation.

Selig’s appointment could accelerate the approval of new derivatives products and potentially resolve lingering enforcement actions left over from the previous administration.

New ‘Bitcoin for America’ Bill Proposes Tax Payments in BTC

Representative Warren Davidson has introduced the ‘Bitcoin for America Act,’ groundbreaking legislation that would allow U.S. citizens and corporations to pay federal taxes using Bitcoin.

The bill proposes that all Bitcoin received by the IRS would not be liquidated but instead funneled into a Strategic Bitcoin Reserve, effectively codifying a national ‘HODL’ strategy.

While the bill faces a steep uphill battle in Congress, its introduction marks a significant shift in the Overton window regarding sovereign crypto adoption.

If passed, it would legitimize Bitcoin as a medium of exchange for government settlements and significantly reduce sell pressure during tax seasons. The mere existence of the bill has bolstered sentiment among long-term holders.

Zcash (ZEC) Skyrockets 1000%, Flipping Bitcoin Cash and Threatening Cardano

Privacy coin Zcash (ZEC) has staged a phenomenal comeback, rallying over 1,000% in recent weeks to trade above $700.

This surge has pushed its market capitalization past $10 billion, allowing it to flip Bitcoin Cash (BCH) and close in on Cardano (ADA) for a spot in the top 10.

The rally is driven by a combination of a supply squeeze and renewed interest in privacy protocols amid increasing global financial surveillance.

Treasury firms are taking notice, with the Winklevoss-backed Cypherpunk Technologies announcing substantial top-ups to their ZEC holdings.

Analysts caution that the move has become parabolic and risks a sharp pullback, but the volume profile suggests this is more than a retail pump, indicating deep-pocketed accumulation of privacy assets.

BlackRock’s IBIT ETF Sees Record Volatility: $523M Outflows Followed by Inflows

BlackRock’s iShares Bitcoin Trust (IBIT) experienced its most volatile week since inception, recording a record daily outflow of $523 million on Tuesday, followed swiftly by $60 million in inflows on Wednesday.

The massive outflow suggests institutional de-risking amid the broader equity market sell-off and uncertain Fed policy signals.

This volatility highlights that while ETFs have brought massive liquidity, they also introduce ‘hot money’ that can flee quickly during macro downturns.

However, the quick return to positive flows suggests that institutional investors are treating dips to the $90,000 range as buying opportunities, preventing a complete collapse in asset prices.

Hedera (HBAR) Faces Liquidity Crisis After Support Collapse

Hedera Hashgraph (HBAR) is facing a severe liquidity test after its price collapsed below key support at $0.1373. The breakdown was exacerbated by a late-session trading halt and thinning order books, triggering fresh liquidity alarms across major exchanges.

Volume has evaporated, making it difficult for large holders to exit without crashing the price further.

The structural weakness in HBAR is concerning for holders, as it points to a lack of market maker support during downturns.

Unless the token can reclaim the $0.14 level quickly, technical analysis points to a potential slide toward $0.10, as the ‘air pocket’ below current prices offers little historical support.

Coinbase Launches Ethereum-Backed Loans up to $1 Million

Coinbase has launched a new lending product allowing U.S. users to borrow up to $1 million in USDC against their Ethereum holdings. The product, integrated with the Morpho protocol, aims to unlock liquidity for ETH holders without triggering taxable sales.

This move comes as on-chain lending volumes on Coinbase’s Base network top $1.25 billion.

For investors, this creates a new utility layer for ETH, potentially reducing sell pressure as holders can access liquidity for expenses or leverage without disposing of the underlying asset.

It also signals Coinbase’s deeper integration into DeFi protocols, bridging the gap between centralized custody and decentralized lending markets.

MicroStrategy Faces Index Exclusion Risk from MSCI

JPMorgan analysts have warned that MicroStrategy (Strategy) risks being removed from, or failing to qualify for, major MSCI equity indices. Such an exclusion could trigger approximately $11 billion in forced selling from passive funds that track these benchmarks.

The concern stems from the company’s extreme volatility and its transformation into a de facto Bitcoin proxy rather than a software company.

Given MicroStrategy’s massive Bitcoin treasury, any significant pressure on its stock price could force the company to halt its aggressive Bitcoin accumulation strategy, or in a worst-case scenario, liquidate holdings to satisfy debt obligations.

This creates a correlation risk that crypto investors must monitor closely.

Solana ETFs Defy Market Trend with $55 Million Inflows

While Bitcoin and Ethereum products faced outflows, Solana ETFs have bucked the trend, attracting $55 million in net inflows this week. The launch of 21Shares’ new TSOL ETF has contributed to this momentum.

This divergence suggests that institutional investors are specifically rotating capital into high-throughput Layer-1 blockchains, viewing Solana as undervalued relative to Ethereum.

Despite the inflows, Solana’s price remains tethered to the broader market, trading near $160. However, the sustained institutional demand creates a bullish divergence; if Bitcoin stabilizes, SOL is positioned to outperform due to this underlying buy pressure absorption.

Andrew Tate Liquidated: Influencer Loses Entire Crypto Portfolio on Hyperliquid

Controversial influencer Andrew Tate has reportedly lost his entire crypto trading portfolio on the decentralized exchange Hyperliquid. On-chain analysis reveals that Tate deposited over $727,000 and utilized high leverage, resulting in total liquidation as the market moved against his positions.

Even his referral commissions were wiped out in the event.

While Tate’s financial loss is personal, the event serves as a high-profile warning to retail investors about the dangers of high-leverage trading in volatile markets.

It also highlights the transparent nature of DeFi, where celebrity wallets can be tracked and audited in real-time, removing the veil of invincibility often projected by social media figures.

BlackRock Files for Staked Ethereum Trust, Signaling Yield Product Push

BlackRock has registered a new Delaware statutory trust for a ‘Staked Ethereum’ product.

This indicates the asset manager is preparing to launch an ETF or trust that passes staking rewards directly to investors—a feature currently absent from approved US Spot Ethereum ETFs due to SEC restrictions.

If approved, a staked ETH product would fundamentally change the value proposition of holding Ethereum via traditional finance rails, allowing institutions to capture the ~3-4% native yield.

This could drive a second wave of institutional capital into Ethereum, which has lagged behind Bitcoin in year-to-date performance.

Vitalik Buterin Warns of Quantum Threat to Ethereum by 2028

Ethereum co-founder Vitalik Buterin has issued a stark warning that quantum computing could compromise Ethereum’s current cryptographic security as early as 2028.

He urged the developer community to accelerate the transition to quantum-resistant cryptography within the next four years to avoid a catastrophic network failure.

This forward-looking concern has sparked debate about the long-term security of all blockchain networks. While a solution is theoretically possible via hard forks, the timeline pressure adds another layer of complexity to Ethereum’s already crowded roadmap.

Investors should expect ‘Quantum Resistance’ to become a major narrative and development focus in the coming cycle.

US Banks Greenlit to Hold Crypto for Operational Purposes

The Office of the Comptroller of the Currency (OCC) has issued an interpretive letter confirming that national banks may hold cryptocurrency on their balance sheets for specific operational purposes, such as paying for blockchain gas fees or testing network applications.

This follows a request from an unnamed national bank seeking clarity on Web3 interactions.

While limited in scope, this regulatory green light is a critical step toward full integration of crypto into the US banking system.

It allows banks to directly interact with blockchain protocols rather than relying solely on third-party custodians, paving the way for more sophisticated bank-offered blockchain services in the future.

New Hampshire Launching First Bitcoin-Collateralized Municipal Bond

In a historic first for municipal finance, New Hampshire has approved a $100 million municipal bond fully collateralized by Bitcoin. The bond structure requires 160% over-collateralization and includes strict liquidation triggers if the collateral value falls below 130%.

This financial instrument allows the state to raise capital without selling its digital assets, effectively leveraging its crypto holdings for infrastructure development.

If successful, this model could be replicated by other municipalities and states, creating a new massive use case for Bitcoin as a pristine collateral asset in public finance.

Tether Invests in Parfin to Expand USDT Infrastructure in Latin America

Stablecoin giant Tether has made a strategic investment in Parfin, a Web3 infrastructure provider, to accelerate the adoption of USDT in Latin America.

The investment aims to build out on-chain settlement tools that allow institutions in the region to use USDT for cross-border trade and payments seamlessly.

Latin America is already a stronghold for stablecoin usage due to local currency volatility.

By strengthening the institutional rails, Tether is moving to cement USDT as the de facto settlement currency for the region’s B2B economy, further distancing itself from competitors like USDC in emerging markets.

UK SFO Makes First Major Crypto Arrests in $28M Basis Markets Fraud

The UK’s Serious Fraud Office (SFO) has arrested two individuals connected to the ‘Basis Markets’ scheme, an alleged rug pull that defrauded investors of $28 million. The project, which promised high-yield returns via an NFT-based hedge fund, collapsed in 2023.

These arrests mark the SFO’s first major enforcement action specifically targeting a DeFi/NFT fraud.

The crackdown signals that UK authorities are closing the net on historical crypto crimes.

For the market, this is a positive maturation signal, as effective enforcement against bad actors is a prerequisite for broader public trust and the entry of regulated capital.

Cloudflare Outage Exposes Centralization Risks in ‘Decentralized’ Finance

A massive outage at Cloudflare has knocked multiple major crypto exchanges and DeFi front-ends offline, exposing the industry’s reliance on centralized Web2 infrastructure.

While the underlying blockchains remained functional, users were unable to access them via standard interfaces, causing panic and halted trading.

Industry leaders, including the founder of Binance and EthStorage, seized the moment to call for true end-to-end decentralization, including front-end hosting and DNS.

The event serves as a reality check that while ledgers are decentralized, the access points for 99% of users remain vulnerable to single points of failure.

Dogecoin ETF Launched by 21Shares Amidst Meme Coin Volatility

21Shares has launched a new ETF tracking Dogecoin, further legitimizing the original meme coin as an investable asset class. The fund also offers a 2x leveraged version, catering to high-risk traders.

This launch comes as Dogecoin faces significant price volatility, with technicals pointing to a potential downtrend.

The approval and launch of a DOGE ETF highlight the disconnect between regulatory acceptance and asset utility. While purists scoff, the product acknowledges the massive retail demand for meme coins.

However, inflows have been mixed, suggesting that the ‘institutional appetite’ for Dogecoin may be overestimated compared to Bitcoin or Solana.

Google Integrates Polymarket Data to Display Prediction Market Odds

Google has begun integrating real-time data from prediction market platform Polymarket into its search results. Users searching for election odds, sports outcomes, or major global events will now see blockchain-based probability data alongside traditional news sources.

This integration is a massive mainstream validation for crypto-based prediction markets, which have seen explosive growth in 2025.

It introduces millions of general users to the concept of ‘truth markets’ powered by blockchain, potentially driving significant user acquisition for Polymarket and increasing demand for the USDC used to settle these markets.

World App Pilots USDC Payroll Deposits for Global Workforce

World App has launched a pilot program issuing virtual bank account numbers that allow users to receive direct payroll deposits in fiat, which are automatically converted to USDC.

This feature aims to serve gig workers and freelancers in regions with unstable banking infrastructure.

This development attacks a core friction point in crypto adoption: the on-ramp. By integrating directly with the traditional payroll system, World App is effectively bypassing the need for users to actively ‘buy’ crypto, instead allowing them to ‘earn’ it directly.

This could significantly accelerate the velocity of stablecoins in developing economies.

Cardano Predicted to Fall Out of Top 20 by 2026, Says Nansen CEO

Alex Svanevik, CEO of analytics firm Nansen, has predicted that Cardano (ADA) will drop out of the top 20 cryptocurrencies by market cap in 2026.

He cites the rapid rise of newer, higher-performance chains like Monad and Hyperliquid, as well as the resurgence of privacy coins like Zcash, as catalysts for ADA’s displacement.

The prediction has sparked heated debate in the community. While Cardano maintains a loyal retail following, on-chain metrics show it lagging in TVL and stablecoin volume compared to Solana and Base.

For investors, this highlights the risk of holding ‘legacy’ L1s that fail to capture new DeFi or Memecoin narratives.

Shiba Inu Burn Rate Explodes 23,000% as Price Struggles

Shiba Inu (SHIB) has witnessed a staggering 23,864% increase in its token burn rate over the last 24 hours, with millions of tokens permanently removed from circulation.

Despite this deflationary mechanism firing on all cylinders, the token price remains suppressed amid the broader market correction.

The disconnect between burn metrics and price action suggests that macro market forces currently outweigh ecosystem mechanics.

However, the massive spike in burns indicates increased network utility and strong community engagement, which could act as a coiled spring for price appreciation once the broader market sentiment improves.

Metaplanet Issuing $135M in Preferred Shares to Buy More Bitcoin

Japanese investment firm Metaplanet is doubling down on its ‘MicroStrategy of Asia’ playbook, announcing a plan to raise ¥21.25 billion ($135 million) through the issuance of new Class B perpetual preferred shares.

The proceeds will be used exclusively to purchase more Bitcoin for the corporate treasury.

Metaplanet’s aggressive accumulation despite yen volatility and a slumping Bitcoin price demonstrates extreme conviction. For the market, this introduces a consistent, price-insensitive buyer in the Asian trading session, helping to absorb selling pressure from miners and short-term speculators.

Singapore Retail Investors Prefer Trust Over Low Fees: Survey

A new survey of Singaporean retail crypto investors reveals a maturing market that prioritizes regulatory compliance and platform trust over low trading fees.

The data indicates a shift toward long-term holding strategies and a preference for licensed local exchanges over offshore platforms.

This trend is a positive indicator for regulated exchanges like Coinbase and specialized local entities.

It suggests that the ‘wild west’ era of crypto is fading in major financial hubs, replaced by a more conservative, wealth-preservation mindset that aligns with institutional adoption patterns.

Bitcoin Core Codebase Cleared in First Independent Security Audit

The first-ever independent third-party audit of the Bitcoin Core codebase, conducted by cybersecurity firm Quarkslab, has concluded with no serious vulnerabilities found. Reviewers praised the code’s maturity, depth of testing, and security standards.

In an industry often plagued by smart contract exploits and hacks, this clean bill of health for the foundational layer of the crypto economy is a crucial confidence booster.

It reinforces Bitcoin’s value proposition as the most secure and robust decentralized network in existence, a key selling point for risk-averse institutional allocators.

Ark Invest Buys the Dip: Loads Up on Circle, Bullish, and BitMine

Cathie Wood’s ARK Invest has used the recent correction in crypto equities to add over $39 million to its positions in Circle, Bullish, and BitMine.

This counter-cyclical buying signals ARK’s continued long-term conviction in the digital asset sector despite short-term stock price weakness.

ARK’s strategy often serves as a bellwether for growth-focused funds. By accumulating infrastructure and mining plays rather than just the assets themselves, ARK is betting on the broader industrialization of crypto.

The investment in Circle specifically highlights a bet on the continued dominance of stablecoins in the global financial plumbing.

Monad vs. MegaETH: The Battle for High-Performance L1 Dominance Heats Up

The race to build the fastest EVM-compatible blockchain is intensifying, with Monad and MegaETH emerging as the frontrunners. Both projects are attracting significant VC capital and developer attention, positioning themselves as ‘Solana Killers’ that offer Ethereum compatibility with Solana-like speeds.

For investors, this rivalry represents the next major narrative in the L1 wars. As these chains move closer to mainnet launches, liquidity is expected to fracture from existing L2s.

The winner of this technical arms race could capture a significant portion of the high-frequency trading and gaming market share currently held by Solana.

Cipher Mining Inks Massive Power Deal, Shares Jump 13%

Bitcoin miner Cipher Mining has signed a new 10-year High-Performance Computing (HPC) deal with Fluidstack, securing 56 MW of capacity and $830 million in contracted revenue. The deal includes expanded backing from tech giants utilizing the capacity for AI compute.

Shares of Cipher rose 13% on the news.

This deal exemplifies the ‘Miner-to-AI’ pivot that is reshaping the mining sector. By diversifying revenue streams away from pure Bitcoin mining, companies like Cipher are insulating themselves from halving economics and Bitcoin price volatility.

This hybrid model is increasingly becoming the standard for investable mining stocks.

Polymarket Rumored to Seek $12 Billion Valuation, Potential IPO

Reports indicate that prediction market leader Polymarket is seeking to raise new capital at a staggering $12 billion valuation. Furthermore, rumors are swirling about a potential IPO, following in the footsteps of Kraken and Coinbase.

The platform has seen exponential growth driven by election cycles and sports betting.

A $12 billion valuation would make Polymarket one of the most valuable crypto-native apps in existence, validating the ‘information markets’ thesis. However, regulatory clouds still loom, as the CFTC has historically been hostile toward prediction markets.

The outcome of their capital raise will be a litmus test for VC appetite in regulatory-grey verticals.

Nano-Cap ‘Record Financial’ Brings Music Royalties to Avalanche Blockchain

Record Financial is launching a platform on the Avalanche blockchain to modernize music royalty payments. The project aims to enable real-time, transparent payouts to artists and labels, replacing the opaque and slow legacy systems.

The initiative has reportedly gained traction with several mid-sized labels.

While a smaller project, this represents a concrete Real World Asset (RWA) use case. Music royalties are an uncorrelated asset class yielding steady cash flow, making them attractive for on-chain tokenization.

Success here could provide a blueprint for tokenizing other intellectual property rights on Avalanche.

Uniswap Token Surges 20% on Fee Switch Governance Proposal

The Uniswap (UNI) token rallied 20% following the introduction of a serious governance proposal to activate the ‘fee switch.’ This mechanism would distribute a portion of protocol trading fees to token stakers, effectively turning UNI from a governance token into a yield-bearing asset.

This is the ‘Holy Grail’ event for DeFi investors.

If passed, it would set a precedent for other DeFi protocols to monetize their success and return value to holders, potentially triggering a sector-wide repricing of DeFi governance tokens based on cash-flow models rather than just speculation.

Berachain Restarts Network Following Balancer Exploit Fallout

The buzzy new Layer-1 Berachain has successfully restarted its network after a 24-hour emergency halt. The stoppage was triggered by a cascading exploit in a Balancer liquidity pool that affected pegged assets on the chain.

No user funds were lost on Berachain itself, but the event highlighted cross-chain contagion risks.

For a chain in its early growth phase, the swift response is a positive sign of technical competence, but the reliance on forked DeFi primitives (like Balancer) remains a risk vector.

Investors will be watching to see if Total Value Locked (TVL) returns to the chain post-restart.

Tornado Cash Co-Founder Roman Storm Faces Retrial Uncertainty

Advocacy groups are urging President Trump to intervene in the retrial of Tornado Cash co-founder Roman Storm. Already convicted on one charge, Storm faces double jeopardy on remaining counts.

The case is viewed as a bellwether for the right to write privacy code.

The outcome of this legal battle has immense implications for open-source developers. A pardon or dismissal would be a massive victory for crypto privacy advocates, while a conviction would chill development of anonymity tools in the U.S. jurisdiction.

China State-Backed Hackers Allegedly Used Anthropic’s AI for Cyberattacks

Disturbing reports have surfaced alleging that Chinese state-sponsored hacking groups utilized Anthropic’s ‘Claude’ AI model to assist in code generation for a major cyberattack affecting 30 companies. While not exclusively crypto-focused, the attack targeted several fintech and blockchain firms.

This intersection of AI and cyber-warfare is a growing threat to the crypto ecosystem. It suggests that hackers are becoming more efficient by leveraging LLMs to find zero-day exploits.

This escalates the arms race between security auditors and black-hat actors, making AI-driven security audits (like the one for Bitcoin Core) even more critical.

Jack Dorsey’s Square Adds Bitcoin Payments for 4 Million Merchants

Block (formerly Square), led by Bitcoin maximalist Jack Dorsey, has rolled out a feature allowing its 4 million merchant network to accept Bitcoin payments seamlessly. The system auto-converts BTC to fiat at the point of sale, shielding merchants from volatility.

This is a massive scale-up for Bitcoin’s utility as a medium of exchange. Unlike niche crypto payment processors, Square has deep penetration in the SME market.

This integration could normalize ‘Pay with Bitcoin’ at coffee shops and retail stores across the US, driving actual transactional demand for the asset.

Kaspa (KAS) Volatility Spikes as Investors Eye XRP Tundra

Layer-1 project Kaspa (KAS) is experiencing heightened volatility, dropping 60% from its highs as momentum fades.

Investors appear to be rotating out of ‘fair launch’ PoW coins and into established ecosystem plays like XRP, specifically focusing on the new ‘XRP Tundra’ DeFi initiatives.

Kaspa’s struggle highlights the difficulty of sustaining a high valuation based purely on ‘tech’ without a vibrant DeFi or stablecoin ecosystem. The rotation suggests capital is seeking yield and utility rather than just pure speculation on blockDAG technology.

US Treasury Updates Guidance on ETF Staking

The US Treasury and IRS have issued new guidance that simplifies the tax reporting requirements for ETFs that stake underlying crypto assets.

This regulatory clarification removes a major barrier for issuers like BlackRock and Fidelity to include staking in their spot ETF products.

This is a bullish regulatory tailwind. By clearing up the tax ambiguity, the government has effectively paved the way for ‘Total Return’ crypto ETFs.

This makes the asset class significantly more attractive to pension funds and endowments that require yield to meet their obligations.

Ledger Rumored to be Considering New York IPO

Hardware wallet manufacturer Ledger is reportedly exploring a public listing in New York within the next 12 months. The move comes as demand for self-custody solutions remains high following the collapse of various centralized entities in previous years.

A Ledger IPO would offer public market investors a ‘picks and shovels’ play on the crypto industry. Unlike exchanges (coin price exposure) or miners (energy/hardware risk), Ledger represents a bet on the secular trend of digital asset ownership and security.

Base Blockchain AI Agent ‘Jessexbt’ Launched to Guide Users

Jesse Pollak, lead of Coinbase’s Base network, has introduced ‘Jessexbt,’ an AI-powered agent designed to help users navigate the Base ecosystem. The bot can answer questions about protocols, bridge funds, and identify potential scams.

This represents the convergence of Crypto and AI Agents. By lowering the barrier to entry with natural language interfaces, Base is attempting to solve the UX nightmare that plagues DeFi.

If successful, AI agents could become the primary interface for blockchain interaction, replacing clunky wallets and dApp front-ends.

FTSE Russell to Publish Index Data on Chainlink

Global index provider FTSE Russell has partnered with Chainlink to publish its financial index data directly onto blockchains. This allows DeFi protocols to access trusted, institutional-grade market data for stocks, forex, and commodities.

This is a massive win for the Real World Asset (RWA) narrative. High-quality oracles are the prerequisite for tokenized stocks and commodities.

FTSE Russell’s entry signals that traditional finance is preparing the plumbing to move trillions of dollars of assets on-chain.

Bitcoin Miner Fees Hit 12-Month Low, Squeezing Margins

Transaction fees on the Bitcoin network have fallen to a 12-month low, significantly impacting miner revenue. With the block subsidy halved, miners are increasingly reliant on fees. The current low-fee environment is putting immense pressure on less efficient mining operations.

This revenue squeeze is driving consolidation in the mining sector (e.g., Cipher’s AI pivot, BitMine’s struggles).

Without a resurgence in Ordinals or Runes activity to boost block space demand, we may see a capitulation of smaller miners, which could temporarily impact the network hashrate.

MEXC Taps Hacken for Monthly Proof-of-Reserves Audits

Crypto exchange MEXC has partnered with security auditor Hacken to publish monthly, independently verified Proof-of-Reserves (PoR) reports. This move aims to boost transparency and user trust in the wake of regulatory scrutiny on offshore exchanges.

While PoR has become an industry standard, the frequency and independence of the audits matter.

MEXC’s move to monthly third-party verification sets a high bar for accountability among Tier-2 exchanges, potentially forcing competitors to follow suit or risk losing user confidence.