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Global exchanges are pressing the SEC to scale back broad exemptions for crypto firms offering tokenized stocks, arguing that current proposals risk weakening investor protections. The World Federation of Exchanges, representing major venues such as Nasdaq, Cboe, and CME Group, warned that many platforms market tokenized stocks as equivalent to traditional equities without meeting regulatory standards. The group supports limited exemptive relief but insists it should only be granted when necessary to ensure fair competition and when it clearly aligns with public interest and investor safeguards.
Their warning arrives as the SEC considers a sandbox-style framework that would allow crypto platforms to test tokenized stock offerings under temporary, supervised relief. The initiative follows previous scrutiny of U.S. attempts to launch blockchain-based equities and reflects ongoing debates about how digital asset markets should be regulated. Industry voices say a focused framework could expand global access to U.S. equities, but only if crypto platforms meet the same expectations as traditional exchanges to prevent the emergence of uneven protections. Source
Web3 neobanks merge the convenience of modern app-based banking with the speed and flexibility of blockchain networks. They aim to solve long-standing pain points in traditional finance, from slow cross-border transfers to fragmented accounts for globally active users. By centreing their services on self-custody and stablecoins, these platforms allow balances to move across networks in seconds, support multiple currencies, and integrate DeFi features such as yield strategies, lending and crosschain swaps directly into a user’s wallet. This setup appeals to remote workers, creators and traders who earn, invest and spend in different currencies and expect always-on access to global liquidity and digital assets.
Projects such as THORWallet show how this model works in practice by blending a regulated multicurrency bank account with a self-custodial wallet and DeFi interface. Users can hold several fiat currencies, spend through a globally accepted debit card, make IBAN and SEPA transfers, swap major crypto assets without intermediaries and move USDC across networks with minimal friction. Instant peer-to-peer transfers for both fiat and crypto complete the loop, making onchain and offchain balances feel unified. As adoption grows, this approach could give individuals more control over their money while bridging traditional banking rails with open blockchain liquidity and becoming a preferred method for moving value across borders. Source
Privacy tokens are rallying even as the broader crypto market loses more than a trillion dollars in value, with Zcash leading gains in a sector facing mounting regulatory pressure. ZEC has surged several hundred percent since late summer, briefly overtaking Monero as the largest privacy coin, while search interest on major exchanges has spiked. Analysts attribute the move to a mix of structural and narrative factors, from declining issuance and upcoming upgrades to thin liquidity, optimistic projections and concerns about increasing onchain surveillance. This surge is happening in a niche that represents only about 1 percent of total crypto market value and that remains highly sensitive to shifts in regulation, exchange support and market depth.
The broader backdrop is defined by tightening global AML standards, new EU rules that will phase out privacy coins from licensed platforms, and a steady wave of delistings that has already pushed trading toward smaller venues. Enforcement actions involving mixers and privacy tools have heightened uncertainty as courts and regulators debate where infrastructure ends and money transmission begins, encouraging compliance teams to over-correct by restricting deposits and listings. Reduced liquidity can amplify both rallies and downturns, leaving large holders with fewer exit options. As analysts debate whether the current move reflects a protest against surveillance or a late-cycle speculative burst, privacy tokens remain caught between demand for financial privacy and increasingly strict global controls. Source
Solana meme coin BONK is now available as a regulated exchange traded product on Switzerland’s SIX Swiss Exchange, giving retail and institutional investors access through standard brokerage platforms. Issued by Bitcoin Capital, a subsidiary of FiCAS AG, the new product leverages Switzerland’s established regulatory framework for crypto ETPs. Bitcoin Capital, known for launching the first actively managed Bitcoin ETP in 2020, expects that regulated access will strengthen investor confidence and liquidity. The firm also anticipates more BONK-linked products next year as European digital asset infrastructure continues to mature.
The listing comes amid growing demand for regulated meme coin exposure, with BONK ranking as the seventh-largest meme coin by market value. It follows a broader wave of meme coin products entering major markets, especially in the United States, where Dogecoin-focused ETFs and leveraged products have recently gained traction. REX Shares has also filed for a BONK ETF, while 21Shares and Bitwise have expanded their Dogecoin offerings. BONK’s move onto SIX signals that meme coins are increasingly becoming part of mainstream tradable products as investor appetite widens across both crypto-native and traditional financial platforms. Source
Around the world, persistently high inflation has pushed individuals and businesses to turn toward crypto as a hedge against unstable local currencies. While global inflation has cooled from its early-2020s peak, several countries continue to face severe price pressures. In Bolivia, rising inflation and dwindling foreign reserves have driven both retail and government-level crypto usage, including stores pricing goods in USDt and new rules allowing banks to offer crypto custody. Venezuela’s inflation remains among the highest globally, fuelling widespread reliance on stablecoins and large inflows of digital assets. Argentina and Turkey, despite recent efforts to reduce inflation, still struggle with high rates that encourage savers to store value in crypto, even as government approaches vary widely.
In Iran and Nigeria, crypto adoption continues to rise amid economic strain, sanctions, currency restrictions and long-standing inflation challenges. Iran uses crypto both as a tool for everyday investors and as a workaround for international sanctions, while Nigeria’s large and digitally savvy population has embraced stablecoins due to difficulties accessing foreign currency. Across these regions, crypto offers faster cross-border transfers, protection from local currency depreciation and a parallel financial system that users increasingly rely on when traditional mechanisms fall short. Source
Two Balancer community members proposed a plan to distribute eight million dollars recovered by white-hat hackers and internal rescuers after the one hundred sixteen million dollar exploit in November. Their framework would reimburse only the liquidity pools that lost funds, allocating payouts on a pro-rata basis according to each holder’s Balancer Pool Tokens. Payments would be made in-kind, so users receive the same assets they originally lost, avoiding token price discrepancies. The remaining nearly twenty million dollars recovered separately by StakeWise will be handled outside this proposal for its own users.
The hack was described as one of the most sophisticated attacks of 2025, raising further concerns about the effectiveness of security audits, despite Balancer undergoing eleven prior reviews by leading firms. A post-mortem revealed that the attacker exploited a rounding function in EXACT_OUT swaps within Stable Pools, manipulating values to round up instead of down and pairing the flaw with a batched swap technique to drain funds. The incident renewed debate over code audit reliability and the evolving risks facing decentralized finance platforms. Source
A Chrome extension called Crypto Copilot has been quietly stealing SOL from users by adding a hidden transfer instruction to every Raydium swap since last June. Security firm Socket found that the extension extracts at least 0.0013 SOL or 0.05% of the trade amount per transaction, routing the funds to an attacker-controlled wallet. The code is heavily obfuscated, the fee behaviour is undisclosed, and the extension remains live on the Chrome Web Store despite months of activity. The attack works by presenting users with what appears to be a normal Raydium swap, while secretly executing a second, concealed instruction that diverts SOL to the attacker.
The mechanism scales with trade size and has so far gathered only small amounts, suggesting limited adoption rather than low risk. Investigators also found that the extension’s main domain is inactive, and its backend domain is misspelled and nonfunctional, even though it collects wallet data. Socket has requested a takedown and urged users to avoid closed-source browser extensions requiring signing permissions, verify all transaction instructions, and move assets to clean wallets if affected. The case highlights broader concerns as new strains of malware continue targeting crypto users across platforms and exploiting trusted developer tools. Source
Amundi has introduced its first tokenized share class for a euro money market fund, giving investors the option to choose between the traditional structure and an onchain version recorded on Ethereum. Developed with CACEIS, the rollout uses blockchain-based order processing, investor wallets, and a digital subscription and redemption system. The companies say tokenization streamlines operations, expands investor access, and enables continuous trading. The fund invests in short-term, high-quality euro-denominated debt, including money-market instruments and overnight repurchase agreements with European sovereigns, and Amundi manages about 2.3 trillion euros in assets.
The launch comes amid rapid expansion of tokenized money market funds, particularly those backed by US Treasurys from firms like BlackRock and Franklin Templeton, which together manage billions in onchain assets across multiple blockchains. Their platforms are increasingly integrating with networks designed for institutional finance, such as Canton. A recent bulletin from the Bank for International Settlements highlighted the sector’s surge to nine billion dollars in value by October, while cautioning that tokenized Treasury portfolios used as collateral could introduce new operational and liquidity risks to the broader financial system. Source
Markethive’s upcoming Entrepreneur One Exchange introduces a dedicated marketplace where members can buy, sell, or auction E1 accounts with real-time reporting, flexible pricing options, and multiple transaction methods. The platform centralizes entrepreneurial activity by combining tools, resources, and commerce in a single location, while shifting all future E1 acquisitions to the new E1 Store once launched. Sellers can use auctions or fixed-price listings, buyers can negotiate through Make an Offer, and all transactions use Markethive Credits initially. The system includes automated bidding, seller transfer fees, detailed vault tracking, customizable notifications, unique listing links, and a Wanted section that allows buyers to specify what type of E1 account they seek. A key metric for evaluating listings is the number of months left to earn the next 0.1 ILP, which helps buyers assess the remaining commitment and reward timeline tied to each account.
The exchange rollout coincides with new payment plan flexibility for E1 subscriptions, offering monthly or discounted yearly options while allowing sellers to list multiple accounts simultaneously. As launch approaches, suspended accounts will have a 30-day reinstatement window before removal, and the engineering team is finalizing development and stress-testing the platform. The project reflects Markethive’s broader goal of creating decentralized revenue-generating tools for its community and enhancing financial empowerment through shared economic participation. Weekly Sunday development meetings provide live demonstrations and updates, enabling members to stay engaged as the E1 Exchange enters its final stages before release. Source
Monad’s token fell sharply as early holders took profits and order book data signaled selling pressure outweighing demand. The price slipped 15 percent to 0.03 after briefly reaching 0.04, though it remains significantly above its launch level. Imbalances in the bid-ask depth and a drop in cumulative volume delta indicate new short positions are adding to the decline. Despite long-term optimism around Monad’s high-throughput design, investors are seeking tangible developer activity and ecosystem growth before reassessing the asset.
The downturn followed a spoofing incident in which bad actors generated fake token transfers that appeared legitimate on explorers, prompting warnings from the project’s CTO. This security concern emerged even as the network posted strong activity with about 150,000 users, 4.7 million transactions, and rising stablecoin inflows driven by cross-chain integrations. The contrast between strong usage metrics and weak price performance highlights ongoing risk-off sentiment in the crypto market. Source
JPMorgan plans to launch leveraged Bitcoin-backed notes that amplify gains or losses by 1.5 times through December 2028, sparking criticism from the Bitcoin community and supporters of Strategy, the largest corporate holder of Bitcoin. Critics argue that the bank’s product positions it as a competitor to crypto treasury companies, potentially creating incentives to undermine firms like Strategy in order to promote its own structured investments. Some advocates claim the product could trigger margin calls on Bitcoin-backed loans, increasing sell pressure on corporate Bitcoin holdings in declining markets.
The backlash intensified after MSCI proposed a rule change excluding crypto treasury companies with 50 percent or more of their assets in cryptocurrencies from its indexes starting in January. This shift could reduce passive capital inflows to these companies, pressuring them to liquidate holdings to maintain index eligibility, which might depress asset prices further. Bitcoin supporters are calling for boycotts of JPMorgan, urging people to close accounts and sell shares, framing the bank’s actions as part of a broader effort to disadvantage Bitcoin-focused corporate investors. Source
Balancer has proposed a plan to return roughly $8 million in recovered assets to affected liquidity providers after a $128 million exploit drained funds from its V2 pools across multiple blockchains. The framework focuses on pool-specific reimbursements based on snapshot holdings prior to the first exploit transaction and includes a 10 percent bounty for whitehat rescuers, capped at $1 million per operation. About $28 million of the stolen funds were salvaged through a combination of whitehat interventions, internal rescues, and third-party actions, with StakeWise handling separate repayments to its users.
The proposal emphasizes a non-socialized distribution, meaning recovered funds are returned only to the users of the specific affected pools. Six whitehat actors, including a lead anonymous rescuer, recovered approximately $3.9 million across multiple networks, while Balancer’s internal team, in collaboration with security firm Certora, rescued an additional $4.1 million from vulnerable pools. A claiming mechanism will require users to digitally consent to terms releasing Balancer and affiliated entities from liabilities, with a 180-day claim period after which unclaimed assets are subject to governance decisions. Source
Animoca Brands is broadening its investment strategy beyond gaming to include stablecoins, decentralized physical infrastructure networks (DePIN), artificial intelligence, and decentralized finance, according to chief strategy officer Keyvan Peymani. While gaming remains the largest segment in its portfolio of over 600 companies, the company aims to identify “game-changing” projects across emerging crypto sectors. Animoca intends to leverage opportunities in these areas to become a market leader and facilitate broader retail participation in the Web3 ecosystem, focusing on both utility and innovative applications of digital assets.
Despite its expansion into new verticals, Animoca continues to prioritize gaming, emphasizing the potential for players to retain assets beyond individual games within the Web3 environment. The company is also preparing for a Nasdaq listing in 2026 through a reverse merger with AI-focused fintech Currenc Group. Animoca’s growth strategy aligns with a broader surge in crypto venture funding, which saw a 290 percent quarter-on-quarter increase in the third quarter of 2025, highlighting strong institutional and retail interest in established crypto ventures. Source
Decentralized exchange (DEX) trading volumes have surged in 2025, driven largely by memecoin speculation and increased activity on platforms like PancakeSwap. The ratio of spot trading on DEXs versus centralized exchanges (CEXs) reached an all-time high of 37.4 percent in June before settling around 21 percent by November, remaining well above historical levels and suggesting a growing market share for DEXs. From May to October, DEX spot volumes reached $419 billion in October despite broader market corrections, indicating a gradual shift in preference toward on-chain trading and the resilience of decentralized platforms in capturing liquidity.
Futures trading on DEXs has also climbed, with the DEX to CEX perpetuals ratio hitting a record 11.7 percent in November. Perpetual DEXs experienced a tenfold increase in year-on-year volume, reaching $903 billion in October, fueled by emerging platforms such as Hyperliquid, Lighter, and edgeX, some offering incentives to attract traders. Hyperliquid alone recorded $2.74 trillion in perpetuals volume for the year, rivaling major CEXs, though analysts note it remains uncertain whether these levels will persist once incentive programs end. Source
South Korea’s Upbit exchange reported a breach of its Solana hot wallet that resulted in roughly $36 million being stolen, prompting the operator Dunamu to freeze affected wallets, move funds offline, and pledge full reimbursement to users. Authorities in Seoul suspect North Korea’s Lazarus Group is behind the theft and are preparing an on-site investigation of the exchange. The breach affected only hot wallets, with cold wallets remaining secure, while blockchain security firms are monitoring fund flows to determine potential links to Lazarus-related laundering networks.
The Lazarus Group has a long history of high-profile crypto attacks, including previous exploits of exchanges and decentralized finance protocols, often using malware, social engineering, and sophisticated laundering methods. Analysts note that the scale and speed of withdrawals from Upbit resemble patterns from previous Lazarus operations, though definitive evidence has yet to be confirmed. South Korean regulators and security firms continue to trace the stolen funds, while Upbit works to contain the incident and safeguard remaining assets. Source
Ethereum will activate the Fusaka upgrade on mainnet on December 3, 2025, marking its second major hard fork of the year after Pectra in May. Fusaka’s main goal is to scale rollup data throughput and reduce bandwidth and storage requirements for validators through PeerDAS, a peer data availability sampling mechanism. Alongside this, the upgrade introduces Blob Parameter Only (BPO) forks, new gas and block size limits, and history expiry improvements, allowing Ethereum to increase capacity in repeated steps rather than one-off jumps. Fusaka also adds several usability and developer-focused improvements, including deterministic proposer scheduling, native support for P-256 signatures for passkeys, and a count-leading-zeros opcode to simplify zero-knowledge proof computations.
For layer-2 networks, Fusaka lowers data costs and expands capacity, potentially reducing L2 fees by 40 to 60 percent for high-throughput applications like DeFi, gaming, and social platforms. Validators benefit from reduced storage and download requirements, though infrastructure providers may see higher bandwidth needs as blob capacity grows. ETH holders could experience increased settlement throughput and adjusted fee markets, while institutions gain a more predictable and scalable environment for staking and validator operations. Fusaka also lays the groundwork for future upgrades, such as Glamsterdam, moving Ethereum toward a modular stack capable of 100,000 transactions per second without sacrificing decentralization. Source
The UK has proposed a new tax framework for decentralized finance (DeFi) users that defers capital gains taxes until the underlying tokens are sold, effectively adopting a “no gain, no loss” approach. Under the proposal, deposits into lending platforms, liquidity pools, or similar arrangements would not trigger immediate capital gains taxation. Taxable gains or losses would only be calculated when liquidity tokens are redeemed, based on the amount of tokens returned compared to the original contribution. Industry participants have welcomed the move as aligning tax treatment with the economic reality of DeFi interactions and providing clarity for users borrowing stablecoins or providing liquidity.
While the proposal has been met with positive reactions from platforms like Aave and professionals in the crypto sector, it is not yet finalized. HM Revenue and Customs (HMRC) continues to consult stakeholders to assess the viability and scope of the approach, considering compliance and coverage across various DeFi transactions. Initial feedback included 32 formal responses from exchanges, venture capital firms, trade associations, and individuals, reflecting broad industry engagement as the UK seeks to create a clearer regulatory and tax framework for crypto lending and liquidity activities. Source
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
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