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Laser Digital, the digital-asset subsidiary of Japan’s Nomura Group, is joining a tokenized investment product project tied to Saudi Arabian small and medium-sized enterprise loans, The Block reported. Partner firm ZIG Finance plans to launch "zEMS Vault," an on-chain investment product on BNB Chain, with a goal of raising $100 million. The product will use Saudi SME loans handled through Beehive’s lending infrastructure as the underlying assets, and qualified institutional investors will be able to subscribe or redeem using stablecoins. Laser Digital is set to provide risk management framework design and token-related advisory services.

Bitwise Chief Investment Officer Matt Hougan compared Hyperliquid’s growth strategy to Amazon’s and said HYPE has the potential to develop into a major global financial platform. On the Unchained podcast, Hougan said Amazon started as an online bookstore before expanding into other business areas, and Hyperliquid is similarly broadening its business beyond crypto perpetual futures into real-world assets and prediction markets. About half of Hyperliquid’s current trading volume comes from non-crypto assets such as crude oil, silver, and the S&P 500, he said. Over the past 30 days, its perpetual futures trading volume topped $254 billion, while revenue reached about $69 million over the same period. Hougan said the business diversification could become a long-term growth driver for the platform.

Stablecoin issuer Tether said it has launched QVAC BotPsy, an artificial intelligence model that can run directly on users’ devices. The model was developed based on Alibaba’s Qwen3.5 architecture and links users’ everyday requests to on-device tool execution.

StoneX has maintained a Buy rating and an $18 price target on tokenization platform Securitize, The Block reported. The financial services firm projects Securitize will generate $72.4 million in revenue this year and said the tokenized equities market could become a major growth driver. StoneX said the global equity market is worth about $169 trillion, while only about 0.002% has been tokenized on-chain, indicating substantial room for expansion.

Crypto custody firm BitGo said it will add support for four exchanges to BitGo Link, its integrated management platform for institutional investors: Binance, Bybit, Bitstamp and Deribit. With the additions, the number of exchanges supported by BitGo will expand to 10, including Coinbase, Kraken, Crypto.com, Gate, Bitget and OKX. BitGo Link helps institutional investors view asset balances across multiple exchanges in one place and manage deposits, withdrawals and account access permissions across BitGo wallets and exchange accounts.

Lending protocol Aave said MidasRWA’s mWIN can now be used as collateral on Aave Horizon. mWIN is a tokenized onchain investment product tied to the performance of an actively managed portfolio investing in investment-grade bonds across multiple sectors.

OKX and Intercontinental Exchange, the parent company of the New York Stock Exchange, plan to launch their joint tokenized stock trading platform OKXICE on Nov. 23, Bloomberg reported. The platform plans to offer more than 70 digital assets linked to stocks and ETFs, although some products, including 59 leveraged and inverse ETFs from Direxion, are not expected to be available for trading on the launch date. Meanwhile, 67 companies, including McDonald's, Coca-Cola and JPMorgan, have expressed opposition to the tokenized trading of their shares. Of the 62 companies selected by OKXICE for initial trading, 56 objected, while only six crypto-related companies, including Coinbase, Strategy and Robinhood, have not publicly opposed the plan.

A Solana Research Institute analysis found that if financial market infrastructure shifts to public blockchains, incumbent providers’ annual revenue could fall by as much as $20.3 billion. SRI estimated that of the global FMI market’s $31.5 billion in annual revenue, only $11.2 billion would remain with existing providers after an on-chain transition. The analysis said the trading segment’s entire $13 billion in revenue would be exposed to competition, while about $6.8 billion of the clearing segment’s $10 billion in revenue would likely be retained. It added that the estimate assumes regulators do not take separate measures to protect incumbent providers. SRI said cost savings from the on-chain shift would likely accrue to users and new entrants.

Decentralized exchange GMX said GMX Dollar Vault is now supported as a collateral asset on Morpho. Users can deposit GLV [USDG], borrow USDG against it, and repeat the strategy. GMX said the estimated return on equity for a U.S. dollar-denominated position is around 28% with 2x leverage. Gauntlet will curate the market.

Bloomberg Intelligence macro strategist Mike McGlone said declines could spread across financial markets through year-end as Bitcoin, U.S. equities, and major commodities have each posted peaks in sequence. McGlone said BTC peaked on Oct. 6 last year, the Nasdaq 100 peaked on Oct. 6 this year, and gold, silver, and crude oil also formed highs in the first quarter of this year. McGlone added that a shift in the Federal Reserve’s tightening stance and changes in the political balance of power could increase downward pressure on markets. McGlone also said policy shifts away from measures that had supported energy prices and inflation could accelerate the post-inflation deflation cycle.

Barclays increased its holdings of BlackRock’s spot Bitcoin ETF IBIT by 48% in the third quarter, Cointelegraph reported. According to a 13F filing submitted to the U.S. SEC, Barclays’ IBIT holdings rose to 3.94 million shares worth around $187 million at the end of September, from 2.66 million shares worth $88.5 million at the end of June. Citigroup also disclosed a new position in Fidelity’s spot Bitcoin ETF FBTC worth about $119 million, while expanding its IBIT holdings by 50% to about 521,000 shares.

Dubai-based investment firm Cequire Capital plans to invest $100 million in Web3 startups and cryptocurrencies over the next three years, Crypto Briefing reported. The firm’s five main investment areas are stablecoins and stablechains, AI agent payments, real-world asset tokenization, privacy technology, and quantum-resistant security. It plans to allocate 60% of the total funding to venture investments, 30% to cryptocurrency investments, and 10% to co-investments.

Bitcoin Core has disclosed three security vulnerabilities that were fixed in past patches, The Block reported. One of them was identified as a high-severity flaw that could have prevented affected mining nodes from generating block templates. The other two issues could have caused delays or interruptions in block processing, or mistakenly granted trusted permissions to external connections through the Tor network. All of the vulnerabilities had already been fixed in earlier updates.

CryptoQuant said BTC investor sentiment is worsening. The firm said its analyst consensus index fell from -1.0σ to -1.8σ over the past seven days, entering what it classified as a clear bearish phase. Over the same period, BTC also slipped to around $73,000. CryptoQuant said 88 of 149 analysts who gave clear outlooks over the past seven days were bullish, while 59 were bearish. While bullish views still accounted for about 62%, the firm said overall investor sentiment had weakened significantly versus the typical level seen over the past 90 days. It added that the indicator is classified as being in a clear bearish phase when it falls below -1.5σ, and said ETF outflows, inflation concerns, and Nasdaq weakness are weighing on sentiment.

Bitcoin remained rangebound near $74,000 after falling to as low as $72,700 yesterday, even as U.S. equities recovered, CoinDesk reported. The outlet said AI cloud company CoreWeave posted earnings above market expectations, helping Nasdaq 100 futures rebound 1.7%. By contrast, the CoinDesk Memecoin Index and CoinDesk 80 Index fell 1.2% and 0.3%, respectively. Spot Bitcoin ETFs in the U.S. also continued to see outflows. According to SoSoValue, U.S. spot Bitcoin ETFs recorded net outflows of $95 million yesterday, extending the streak to four consecutive trading days. BlackRock's IBIT saw $78 million in outflows, marking a net outflow streak of eight straight trading days.

Orbs said it has opened a formal governance vote on OIP-10, a proposal to burn a total of 507,546,03 ORBS. The proposal calls for retroactively applying season-by-season burn allocations and carrying out the burns in weekly installments. A final version was prepared after community review and discussion, and if approved, weekly burns will continue until the full allocated amount is destroyed.

Centralized exchange spot trading volume in October fell 9.7% from the previous month to $1.02 trillion, CoinDesk reported. By contrast, CEX derivatives trading volume declined 1.7% to $3.87 trillion, showing relatively greater resilience. As a result, derivatives' share of total CEX trading volume rose 1.5 percentage points to 79.1% from 77.6% a month earlier.

Layer-1 blockchain Polymesh (POLYX) said it has applied version 8.1.3 to its mainnet. All assets on Polymesh now receive EVM addresses, with ERC-20 applied to fungible assets and ERC-721 to NFTs. Existing regulatory compliance requirements continue to apply to all transfers. The update also adds holder-level freezing and NFT approval features.

U.S. House Democrats are preparing a new crypto market structure bill that would expand the U.S. SEC’s oversight authority, Crypto Briefing reported. Democrats plan to pursue the bill in the 120th Congress, which is set to begin in January 2027. The bill is being drafted based on amendments to the "Crypto Investor and Consumer Bill of Rights" proposed by Democratic Rep. Maxine Waters in 2025, according to Crypto Briefing. It is expected to broaden the SEC’s authority over the crypto market and intermediaries while reducing the role of the U.S. CFTC. Lawmakers are also reviewing measures to strengthen customer protections for user fund withdrawals and security incidents at trading platforms.

Solana said it has launched Earn, a Solana-based stablecoin yield service. Users can deposit USDC or USDT and hold USDC+ or USDT+ to earn yield from reserves lent out on Solana. Redemptions are available in a single transaction, and the service is built on Pyth Network technology.

DeFi protocol Hyperwave said on its official X account it will shut down its service on Dec. 16, citing operating cost burdens and regulatory uncertainty. All vaults, including GWAVE, have now been switched to withdrawal-only mode, and users can withdraw assets before operations end.

Crypto investment firm Abraxas Capital is sitting on about $34.98 million in unrealized profit from a ZEC short position on Hyperliquid, EmberCN reported. The gain appears to have widened as ZEC plunged below $1,000 today. Across all open positions tied to two addresses believed to be held by Abraxas Capital, total unrealized profit stands at $118 million.

MSCI is set to make a final decision today on whether to classify Strategy (MSTR) and Metaplanet as non-operating companies and exclude them from major indexes, according to Bitcoin Treasuries.

The Financial Stability Board has urged Turkey to strengthen its regulatory and supervisory framework for cryptocurrencies and stablecoins, The Block reported. In its second peer review of Turkey, the FSB called for improvements in four areas: establishing a dedicated regulatory framework for stablecoins, monitoring financial stability risks, strengthening supervision and enforcement, and improving cross-border cooperation and information sharing.

CryptoQuant contributor Darkfost analyzed that exchange deposits from Bitcoin short-term holders in a loss position reached one of the highest levels in recent months. Of the 48,500 BTC short-term holders sent to exchanges over the past 24 hours, 47,300 BTC was moved at a loss, accounting for about 97.5% of the total, Darkfost said. Since October, BTC has entered a sell-side-dominant phase and undergone a roughly 15% correction. Early in the pullback, profit-taking by short-term holders was the main driver, but loss-position transfers now make up the bulk, according to Darkfost.