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The waitlist is now open for Conviction, an Asia-focused prediction market platform built on the cross-chain Layer 1 blockchain ZetaChain (ZETA), the project announced on X. The platform supports a multi-chain structure, including Bitcoin, Solana, and EVM-compatible chains, and provides AI-based insights. Users can use cryptocurrency to bet on a variety of outcomes and trade their predictions to earn rewards.

South Korean cryptocurrency exchange Upbit will begin backing up user data to Microsoft Azure data centers in addition to its existing storage on Amazon Web Services (AWS), Herald Business reported exclusively. An Upbit official stated that the move is part of a strategy to enhance operational resilience and ensure business continuity. The exchange aims to safeguard its operations by creating a secondary backup in case of emergencies, such as a fire or earthquake, affecting its primary AWS infrastructure.

The Russian government will reportedly make its cryptocurrency mining ban in two Siberian regions permanent starting next year to address power shortages. This measure expands on existing seasonal mining bans, which are in effect in 10 regions from November to March annually until 2031.

A Bitwise researcher predicts that over 100 new crypto exchange-traded products (ETPs) will launch in 2026 as the U.S. Securities and Exchange Commission (SEC) refines its guidelines for the sector, Cointelegraph reported. Ryan Rasmussen of Bitwise Research stated that the market will see a surge of diverse products, including spot, index, equity-linked, and smart beta ETPs. He noted that this marks a significant shift from the past, when investors had only two or three options. Rasmussen likened the future ETP landscape to a restaurant with an extensive menu, offering dozens or even hundreds of choices.

Younger generations are investing more than three times as much in alternative assets like cryptocurrency compared to traditional financial assets, as they feel it is difficult to access established paths to wealth, Coinbase stated in a post on X. The company added that these generations view cryptocurrency as a key vehicle for future wealth growth, signaling a paradigm shift in asset investment between generations. Coinbase CEO Brian Armstrong explained that the existing financial system has numerous problems, which is driving younger people to turn to alternative assets.

Security token platform Securitize plans to launch on-chain stocks within the next few months, according to The Block. These stocks will grant actual shareholder rights, including receiving dividends and exercising voting rights, and will be recorded on the issuer's shareholder ledger. Securitize stated that while most existing tokenized stocks only offer exposure rather than ownership, its on-chain stocks will be legally recognized shares.

South Korean crypto exchange Coinone announced it will list XPASS at 6:00 a.m. UTC today.

The UK government has launched an independent investigation into foreign interference in domestic politics through financial means, including cryptocurrency, Bloomberg reported. The inquiry was prompted by the case of Reform UK Member of Parliament Nathan Gill, who was sentenced to prison for accepting bribes from Russia. Steve Reed, Secretary of State for Housing, Communities and Local Government, said the investigation will examine the role of cryptocurrency in political financing and interference. He added that the government will also review institutional safeguards to block illicit political funds.

Cumulative issuance of structured notes linked to BlackRock's spot Bitcoin ETF (IBIT) by major Wall Street investment banks has reached $530 million, according to Bloomberg. The trend began after investment bank Jefferies launched the first U.S. structured note based on IBIT in July, with firms like Goldman Sachs, Morgan Stanley, and JPMorgan subsequently releasing similar products. Bloomberg noted that these products are designed to maintain exposure to the asset while reducing risk, signifying Wall Street's growing efforts to integrate cryptocurrencies into the broader capital markets. The development highlights a shift in perception, as Bitcoin—once largely avoided by traditional finance for its high volatility and lack of regulatory oversight—is now being incorporated as an underlying asset in financial instruments for high-net-worth individuals.

The Ethereum-based DeFi protocol Yearn.finance (YFI) V1 has suffered a $300,000 loss due to a hack, according to blockchain security firm PeckShield. The attacker exchanged the stolen funds for 103 ETH, which are now being held in an anonymous address starting with 0x0F21. This incident follows a separate hack earlier this month that resulted in a $9 million loss for the protocol.

CoinMarketCap's Altcoin Season Index has dropped four points from the previous day to a reading of 18. The index compares the price performance of the top 100 coins, excluding stablecoins and wrapped tokens, against Bitcoin over the last 90 days. An "altcoin season" is declared when 75% of these top coins outperform Bitcoin during that period, while the opposite scenario is considered a "Bitcoin season." A score closer to 100 indicates a stronger altcoin season.

The Bank of Canada has announced it will only approve high-quality stablecoins pegged to its fiat currency under regulations scheduled to take effect in 2026. According to Cointelegraph, the measure aims to ensure that stablecoins can function as a reliable monetary instrument.

The Crypto Fear & Greed Index has risen five points from the previous day to 16, though it remains in the extreme fear category, according to data from Alternative. The index measures market sentiment on a scale of 0 to 100, where 0 represents extreme fear and 100 signifies extreme optimism. It is calculated based on several factors, including volatility (25%), trading volume (25%), social media mentions (15%), surveys (15%), Bitcoin's market cap dominance (10%), and Google search volume (10%).

Two new addresses (0x9a93 and 0x611f) suspected of belonging to Bitmain (BMNR) have withdrawn 48,049 ETH, valued at $141.78 million, from FalconX, according to Onchain Lens. The withdrawal follows Bitmain's purchase of $321 million worth of ETH last week.

Crypto bank Anchorage Digital has acquired Hedgey, a company specializing in token distribution and vesting management solutions, The Block reported. The move is part of Anchorage Digital's broader strategy to expand its asset management and stablecoin businesses. Financial terms of the deal were not disclosed. The acquisition follows the company's recent purchase of the crypto asset management platform Securitize For Advisors.

Mysten Labs, the developer of the Sui (SUI) blockchain, has announced the formation of the Blockchain Payment Consortium (BPC) in response to growth in the stablecoin sector. The consortium, which includes other major Layer 1 projects and blockchain firms like Solana (SOL), Polygon (POL), Stellar (XLM), Telegram's The Open Network (TON), and Fireblocks, aims to establish a common framework and industry standards for on-chain payments. The BPC plans to clearly define on-chain transactions and develop standards that protect user privacy while also providing information required by authorities.

Cryptocurrency wallet provider Exodus (EXOD) is partnering with fintech firm MoonPay and stablecoin infrastructure provider M0 to launch a dollar-pegged stablecoin by January of next year, CoinDesk reported. The new stablecoin will serve as a core asset for Exodus's new payment platform, Exodus Pay, which is planned to support self-custody and everyday payments.

The three major U.S. stock indexes closed mixed. The S&P 500 finished down 0.24% and the Dow Jones Industrial Average fell 0.62%, while the Nasdaq Composite edged up 0.23%.

The decline in Bitcoin's price has caused trading volumes on South Korean exchanges to contract significantly compared to three months ago, IT Chosun reported. Average daily trading volume on these exchanges fell from $4.41 billion in August to $2.91 billion in November. This drop in volume, combined with the fall in Bitcoin's price, is expected to directly impact exchange performance. Market analysts predict a potential slowdown in fourth-quarter earnings for major South Korean exchanges, as over 98% of their revenue is generated from trading fees.

Bitcoin has underperformed the stock market due to year-end portfolio rebalancing by asset managers, but this could pave the way for a stronger performance next year, according to K33 Research analyst Vetle Lunde. In an interview with Cointelegraph, Lunde explained that managers at asset management firms have pre-determined portfolio allocations and can adjust their weightings for the upcoming period, potentially allocating funds to BTC. He added that despite Bitcoin's price stabilizing, market participants remain hesitant to take on risk.

Terraform Labs co-founder Do Kwon, who was sentenced to 15 years in a U.S. court, could receive a lighter-than-expected sentence if extradited to South Korea, according to a report from the Beopryul Shinmun. While he could face a sentence of five years to life in prison in South Korea, the legal newspaper noted that Article 7 of the country's Criminal Act allows a judge's discretion to credit time served in a foreign prison toward a domestic sentence. Meanwhile, U.S. prosecutors have reportedly agreed not to oppose Kwon's transfer after he serves half of his term. This raises the possibility that Kwon could be sent to South Korea before completing his full U.S. sentence.

Strategy co-founder Michael Saylor stated on X that quantum computing will strengthen Bitcoin rather than destroy it. He argued that the network would be upgraded, active supply would be migrated, and lost supply would be frozen. Saylor added that this would result in enhanced security and reduced selling volume, ultimately making BTC stronger. He previously commented in June that claims of quantum computers threatening BTC were exaggerated.

Whale Alert reported that 499,884,071 USDT has been transferred from an unknown wallet to Aave. The transaction is valued at about $500 million.

Internal conflict at Aave over governance and revenue distribution is intensifying, The Block reported. In response, an AAVE token holder has posted a "poison pill" proposal on the official forum that would have the Aave DAO absorb the intellectual property and equity of Aave Labs, effectively making it a subsidiary of the DAO. The proposal also calls for all revenue generated by Aave Labs from the Aave brand to be transferred to the DAO treasury. This move follows a recent controversy over allegations that swap fees from Aave's CoW Swap-based interface were being directed to an Aave Labs address rather than the DAO, as CoinNess previously reported.

U.S. Senator Elizabeth Warren, a prominent critic of cryptocurrency, has called for an investigation into PancakeSwap over allegations of a scheme to inflate the price of a coin issued by World Liberty Financial (WLFI). In a letter to the Secretary of the Treasury and the Attorney General, Warren argued that authorities must investigate whether PancakeSwap is connected to improper political influence from the Trump administration, Coindesk reported. She also criticized decentralized finance (DeFi) platforms for processing hundreds of millions of dollars in daily transactions without requiring identity verification.