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Ethereum co-founder Vitalik Buterin said Ethereum plans to strengthen the network’s parallel processing capabilities over the next several years by using advanced technologies including GPUs. In a blog post shared on X, Buterin said the technology would advance to let the network handle multiple tasks at the same time while maintaining decentralization. Buterin added the Ethereum Foundation plans to focus on helping developers improve technical standards, security, privacy and openness, while leaving areas outside the foundation’s expertise for users and the community to explore independently.

A won-denominated stablecoin could create around 36 trillion won ($26.0 billion) in annual economic value, Moon Cheol-woo, a professor at Sungkyunkwan University’s business school, said at a policy seminar in Seoul, according to Munhwa Ilbo. At the seminar on the opportunities and strategy of Korean finance, held at the National Assembly Members’ Office Building in Yeouido on Nov. 5, Moon presented a single-model framework to estimate the economic value of introducing a won stablecoin by applying adoption and effectiveness rates to official baseline statistics across eight use cases. Under a base-case scenario assuming a 10% to 20% adoption rate, the annual economic value was estimated at about 36 trillion won. Under a conservative scenario with a 5% adoption rate, the figure came to 12 trillion won ($8.7 billion), while an optimistic scenario with adoption expanding to 30% put the value at 72 trillion won ($52.0 billion).

France’s lower house rejected the revenue portion of the government’s 2027 budget at first reading on Nov. 4 local time by 458 votes to zero, automatically scrapping previously adopted amendments on virtual asset taxation and self-custody wallet disclosure. With the revenue bill thrown out in full, the government will forward the original draft to the Senate without the crypto-related amendments adopted by lawmakers. Those measures had included taxing gains from crypto-to-stablecoin conversions, requiring disclosure of holdings in self-custody wallets worth more than €100,000 ($108,000), and raising fines fivefold for unreported exchanges to as much as €50,000 ($54,000). The provisions have therefore lost effect at this stage, although they could still be reintroduced during Senate deliberations.

American Bitcoin, a Bitcoin mining company linked to the family of U.S. President Donald Trump, posted net profit of $126 million in the third quarter, reversing from a $57.2 million net loss in the previous quarter, The Block reported. The earnings improvement was mainly driven by about $197.34 million in gains from digital asset revaluation. Mining revenue, however, fell 5.4% from the previous quarter to $63.4 million, while BTC mined declined 4.4% to about 891. American Bitcoin also added about 425 BTC to its holdings during the third quarter, bringing its total holdings to 8,427 BTC as of the end of September.

DDC Enterprise, a Bitcoin treasury company, is seeking an IPO for its first preferred stock, SAVOR (SVOR), with an initial offering price of $20 per share, according to Bitcoin Treasuries. The preferred shares carry a 13.5% annual dividend rate, with dividends paid daily. DDC plans to raise about $24 million through the offering and use the proceeds to repay outstanding convertible notes, fund a reserve account for dividend payments, and buy additional Bitcoin.

South Korean exchange Upbit announced it will conduct server maintenance from 5:00 p.m. to 10:00 p.m. UTC on Nov. 8. Access to all Upbit services will be limited during the maintenance window.

Evernode (XRPN), an XRP accumulation firm also known by the DAT ticker, has registered investor-held shares for potential resale even as its stock has fallen more than 40% since its Nasdaq listing, CryptoSlate reported. The filing means the shares were registered so they can be sold, but the registration itself does not mean a sale will occur. According to an S-1 filed with the U.S. SEC on Oct. 30, local time, the resale registration covers holdings tied to Arlington XRP Capital, Ripple Labs, SBI affiliates and Ripple co-founder Chris Larsen. However, a large portion of those shares remains subject to lock-up restrictions through April next year. Evernode said the registration reflects a contractual obligation rather than a decision to sell. The company listed on Nasdaq on Oct. 12, local time, and the stock closed at $10.59 on Nov. 4, local time, down more than 40% from its intraday high on the first trading day.

Blockchain security firm SlowMist said its analysis of addresses tied to North Korean IT workers sanctioned by the U.S. Treasury’s Office of Foreign Assets Control, or OFAC, found the wallets were closely interconnected. According to SlowMist, Boykov and Obertas each sent about $9.88 million to the same linked Ethereum address, while addresses associated with Obertas also transferred a combined 1.66 million USDT on the Tron network. The firm added that Boykov and Kim Gi-hyeok sent about $4 million and 50,000 DAI, respectively, to the same Bybit deposit address. OFAC had previously sanctioned 10 individuals and one entity linked to a North Korean IT worker network. SlowMist urged companies to strengthen identity verification and access control management, warning that North Korean IT workers could use false identities to gain access to internal systems or sensitive information.

Arkansas has sued prediction market platform Kalshi over allegations it operated illegal gambling services, The Block reported. Arkansas Attorney General Tim Griffin argued Kalshi violated state law by offering services that let users wager money on the outcomes of sports games and other events. Griffin also said the service risked driving excessive betting, financial losses and mental health problems including depression. Kalshi, meanwhile, has argued in earlier litigation that its prediction market products are not gambling but derivatives regulated by the U.S. Commodity Futures Trading Commission, or CFTC. Several other states, including Utah, have also taken legal action against Kalshi.

Cryptocurrency analyst DonAlt said Bitcoin’s price action after the U.S. midterm elections suggests it could make another run at its all-time high, Daily Hodl reported. DonAlt said on X that BTC rebounded after falling to $75,000 on Nov. 4, turning the monthly candle positive. DonAlt added that the move suggests BTC could keep climbing toward its all-time high, while holding the $70,000 support level could allow it to form a higher low than the previous monthly low. DonAlt also said it was encouraging that BTC did not see an additional sharp drop despite the large-scale Binance hack, adding that the pattern resembles the bullish reversal seen after the FTX collapse in 2022.

Bitcoin’s correlation with the U.S. stock market’s S&P 500 index has risen sharply, according to an analysis by crypto analyst Darkfost. In a post on X, Darkfost said the cumulative Z-score between BTC and the S&P 500 currently stands at 98.5, indicating the two have moved together more often in both rallies and declines. Darkfost added the 90-day fluctuation range is running at about 6.3%. Darkfost attributed the shift to broader access through spot ETFs, exchanges, over-the-counter trading and custody services, adding BTC has become a product that financial professionals can access more easily.

Thena, a decentralized exchange on BNB Chain, said on its official X account that the foundation has decided to implement the THE-02 proposal previously approved by the community, and around 32.61 million THE has now been minted. The newly issued tokens amount to 10% of the token’s previous maximum supply. Thena said the tokens will be held in a foundation-operated multisig wallet and used gradually for ecosystem expansion, liquidity support, strategic partnerships, infrastructure development, and operating funds. Voting on the THE-02 proposal took place on the project’s official forum on July 22, and the foundation said on Aug. 7 it would not pursue the additional issuance at the time, citing concerns over token value dilution.

Lawmakers on the People Power Party’s fiscal and economic planning committee urged the government to apologize after it said it would pursue an additional two-year delay to taxation on virtual asset income, according to The Fact. In a statement on Nov. 5, the lawmakers said the Lee Jae-myung administration had pushed to implement the tax without fully resolving the issues involved, while the Democratic Party had declined to take part in reviewing the bill and only recommended a delay to the government shortly before the planned rollout. They added investor confusion had grown as the government and ruling party belatedly shifted responsibility to each other, and said recognizing the need for a delay was welcome but did not erase responsibility for putting off the decision. The government and ruling party should first apologize to investors who faced anxiety because of the policy confusion, the statement said.

Most companies building BTC reserves through debt or share issuance will eventually fail, macro analyst Roberto Rios warned, according to BitcoinTreasuries. Rios said a strategy of buying BTC through new share issuance can be copied by anyone, leaving no competitive edge. He added the approach is not sustainable and said those companies’ market capitalization-to-modified net asset value, or mNAV, will eventually fall to around 1x. A better strategy, Rios said, would be to allocate 30% of corporate profits to BTC purchases and fund those purchases with internal cash flow.

South Korean exchange Bithumb announced the delisting of FET.

South Korea’s Ministry of Economy and Finance said today it will work with the National Assembly to push a two-year delay in the start of taxation on virtual asset income, moving the implementation date to 2029 from 2027. Deputy Prime Minister and Finance Minister Lee Hyeong-il made the remarks at a briefing at 6:00 a.m. UTC today at the Government Complex Seoul. The government also plans to speed up efforts to rationalize the tax system, including securing and linking overseas tax information and introducing a three-year loss carryforward, while accelerating legislation on digital assets to support the ecosystem. In addition, it plans to form a public-private joint working group to discuss tax infrastructure expansion and key policy tasks. The ministry said additional preparation time is needed in light of institutional changes tied to digital asset legislation and the fact that virtual asset information-sharing with the U.S. is set to begin in 2029. Note: We obtained the press release from a community channel earlier today, then published content after verification. We were not aware of the embargo while the release had already spread across multiple communities. After identifying the embargo issue, we immediately removed the content.

South Korean exchange Bithumb announced the addition of Magma Finance (MAGMA) to its KRW trading pair today.

South Korean crypto exchange Upbit announced it will temporarily suspend AKT deposits and withdrawals starting at 9:00 a.m. UTC on Nov. 6 to support the Akash Network upgrade.

The following are the 24-hour long/short ratios for BTC perpetual futures on the world’s three largest crypto futures exchanges by open interest: Overall: 49.56% long, 50.44% short - Binance: 51.88% long, 48.12% short - OKX: 51.78% long, 48.22% short - Bybit: 52.5% long, 47.5% short

South Korean exchange Upbit announced the addition of Collectorcrypt (CARDS) for KRW, BTC and USDT trading at 7:30 a.m. UTC today.

South Korean exchange Bithumb announced it will temporarily suspend AKT deposits and withdrawals starting at 9:00 a.m. UTC on Nov. 6.

Privacy-focused cryptocurrency Zcash will retire Sprout, a legacy privacy pool launched in 2016, through its NU7 network upgrade, CoinDesk reported. About 12,226 ZEC worth roughly $16 million remains in Sprout, and once the upgrade takes effect, use of those assets will be restricted even for holders of the private keys, effectively freezing the funds. The upgrade is aimed at retiring Sprout’s legacy transaction format to reduce software complexity and security risks. Holders of ZEC in the pool need to withdraw their assets before the upgrade. Assuming Zcash’s average block time remains 75 seconds, the NU7 upgrade is expected to take effect at 2:30 a.m. UTC on Nov. 6.

South Korea’s National Policy Committee Chairman Yoo Dong-soo of the ruling Democratic Party said a government bill on a basic law for digital assets, including stablecoin-related measures, will be submitted to the National Assembly in November and handled as quickly as possible afterward, Edaily reported. Asked when South Korea’s Financial Services Commission would submit the government proposal, Yoo said it would be sent to parliament in November and processed as soon as possible after submission. Yoo added the government bill would be released soon and the Democratic Party plans to pass the digital asset basic law as quickly as possible once it is introduced, citing the need to protect South Korea’s monetary sovereignty in the global currency system.

Tron, Tether and Binance have disbanded T3, a joint financial crime response unit, Bloomberg reported. Slow response times and weak coordination among the participating companies were cited as reasons for the shutdown. The companies are also said not to have separately disclosed the unit’s closure. T3 launched in September 2024 and had said it froze $250 million in illicit funds while working with law enforcement agencies.

XRP Ledger fixed a security flaw that, under certain conditions, could have allowed accounts with only token-burning authority to mint new tokens, CoinDesk reported. The vulnerability stemmed from a feature that lets accounts delegate permissions to other accounts. Previously, accounts delegated authority to burn tokens such as stablecoins could in some cases also exercise minting authority, but the update separated the two permissions. The measure applies to assets issued on XRPL, including stablecoins, and is unrelated to XRP itself. No confirmed cases of real-world exploitation have been identified so far.