pro

A banking alliance composed of 21 institutions has committed approximately $270 million to the dollar stablecoin project Project Faro. Goldman Sachs, Citigroup, Santander, and Deutsche Bank are reportedly involved, with the project planned to launch in 2027, operated by a U.S. registered issuer.The fintech company SoFi has expanded its dollar stablecoin SoFiUSD to Polygon, having previously supported Ethereum and Solana. SoFi has also launched a tokenized deposit product SoFi Earn, with an annual yield of 4.4%, which can be converted to SoFiUSD. The federally chartered crypto bank Anchorage Digital's tokens can now settle transactions on the Visa network, with the first project involving Western Union's USDPT.Mastercard has launched stablecoin-related tools and payment features for AI agents, while Circle plans to pilot USDC settlement through Latin American bank channels from Colombia. The GENIUS Act was signed in 2025 to establish a U.S. regulatory framework for dollar stablecoins. Project Faro currently has no tokens, CEO, or final name; Tether and Circle still hold about 85% of the dollar stablecoin market, which is approximately $290 billion.

U.S. Senator Cynthia Lummis stated that Democrats previously requested the establishment of a mandatory SEC review mechanism, requiring cryptocurrency projects to submit relevant information and complete certification with the SEC before offering products to the public. The "CLARITY Act" has included this requirement, but Democrats ultimately voted against the bill.Lummis believes this indicates that Democrats oppose measures aimed at protecting consumers.

According to on-chain data, the rollover trader AguilaTrades has just reduced his position by 500 BTC long contracts, realizing a profit of $752,700. He currently still holds 1,500 BTC long contracts with 40x leverage, with a position value of approximately $97.41 million and an unrealized profit of $1.94 million.

According to on-chain analyst @ai_9684xtpa, trader 58bro.eth is suspected of selling 6,914.08 ETH, expected to incur a loss of $1.207 million.He previously withdrew 10,500.57 ETH from OKX at an average price of $1,978.26 during the drop from November 13 to 14, worth $20.77 million; however, after that, the price continued to decline. In the past 11 hours, he has deposited ETH worth $12.47 million into the exchange in three batches. If sold, the assets would shrink by 8.82%, with the remaining portion still showing an unrealized loss of $522,000.

According to CoinDesk, several figures in the U.S. cryptocurrency industry expect that during the last few weeks of the current congressional session (the "lame duck" period from the end of the election until the next Congress begins on January 3), it will be difficult to push forward any substantial progress on cryptocurrency legislation.Cody Carbone, CEO of the Digital Chamber of Commerce, stated that hopes for further progress on the CLARITY Act are low, as lawmakers seem to have gradually shifted their attention to other matters. With the Democrats gaining more control in the new Congress after the midterm elections, the Republicans have limited time left, and the Democrats lack the motivation to make significant compromises at this time.There are still a few issues that may receive attention, including cryptocurrency tax rules, granting the Commodity Futures Trading Commission (CFTC) more regulatory authority over the cryptocurrency spot market, and expediting data center construction permits. Among these, the bipartisan bill related to data center permits has passed preliminary procedures in the Senate, but some Bitcoin mining companies have disagreements regarding potential requirements to bear the costs of grid expansion and higher energy expenses.Kristin Smith, head of the Blockchain Association, stated that with limited time left in this Congress and many items on the agenda, the most important regulatory rules for the U.S. cryptocurrency industry are still being set by the Securities and Exchange Commission (SEC) and the CFTC.

On-chain analyst Psyche stated that the market maker Wintermute has spent approximately $824,000 in the past 30 days on the Gossip Priority auction for trading flow on Hyperliquid, which translates to an annualized expenditure of about $10 million.This mechanism will go live in April 2026, with auctions held every 3 minutes, offering a total of 3 priority seats. The highest seat can receive unexecuted trading data about 60 milliseconds earlier than participants without priority. Wintermute primarily bids for Seat 0, winning about 74.7% of the relevant auction rounds in October. On-chain data shows that Wintermute, Selini Capital, and another unnamed market maker collectively contributed about 99% of the auction expenditure.However, the approximately $229.7 million in account profits accumulated by Wintermute since 2024 cannot be directly attributed to trading priority. The auction mechanism will not be launched until April 2026, while Wintermute had already accumulated about $204 million in profits prior to that; in the approximately 7 months after the launch, account profits were about $25.6 million, with auction expenditures for the seats around $3.58 million during the same period.The relevant accounts also hold a large number of perpetual contract hedge positions, so the cumulative profit and loss includes various sources of income from years of market making, directional trading, and inventory hedging, with trading priority only providing potential marginal improvements to market-making operations.It is noteworthy that Wintermute has significantly reduced its bidding since November 11, with daily expenditures dropping from about $30,000 to around $10,000, concentrating bids in the hours following the opening of the U.S. stock market. The core value of Gossip Priority lies in allowing market makers to see pending orders earlier, enabling them to cancel or adjust quotes ahead of time, similar to the Last Look mechanism in traditional financial markets.This means that large market orders from ordinary traders may face speed competition among market makers, and smaller market makers may be at a disadvantage due to the lack of priority. However, the ownership of the relevant wallets relies on third-party labels and is not officially disclosed by Wintermute.

According to Bitcoin News monitoring, approximately 64,000 Bitcoin mining machines have reportedly been hijacked, involving 13 EH/s of computing power. The mining machine's computing power was redirected to the OCEAN mining pool, with earnings designated to be paid to a Bitcoin address controlled by the attackers. The attack reportedly began around 8 PM Central Time.The OCEAN dashboard showed that its computing power once approached 50 EH/s, before falling back to about 40 EH/s. CoreX Hosting was the first to raise the alarm, stating that the mining machines were switched to other mining pools without authorization. An affected operator claimed that their entire mining farm was hijacked and pointed out that Luxor's Commander mining management software was the source of this security incident; other operators reported that similar unauthorized changes to mining pools had occurred a few days prior.CoreX subsequently stated that the attack appeared to be over, with the hijacked computing power dropping from 13 EH/s to about 100 PH/s. The attackers reportedly failed to mine any Bitcoin blocks during the hijacking, thus not receiving any block rewards; affected miners permanently lost the opportunity to earn Bitcoin during the attack. The full scope of the impact of this security incident, as well as whether Luxor Commander was compromised, has yet to be independently confirmed.

Google's security team Project Zero announced the implementation of a new "Full X" vulnerability disclosure policy: vulnerabilities will be made public X days after being reported to the vendor. The new policy will be executed as "Full 90" starting today, shortened to 60 days on February 2, 2027, and further shortened to 30 days on January 3, 2028.The previous "90+30" policy has been canceled, and special terms such as grace periods and variant rules have also been removed. There are only three exceptions remaining: vulnerabilities that have been exploited in the wild, vulnerabilities whose details have been disclosed by others, and vulnerabilities that the vendor actively requests to be made public. Project Zero stated that AI has significantly accelerated the speed of vulnerability discovery and exploitation, and the number of vulnerabilities discovered has also increased significantly.

According to Coinglass data, in the past 7 days, CEX platforms had a net inflow of 12,593.71 BTC, with Binance platform inflowing 8,668.22, Coinbase Pro platform outflowing 3,494.91, and Kraken platform inflowing 4,418.39.

According to monitoring by Lookonchain, a giant whale previously made a profit of about 6.32 million dollars from 10 consecutive trades, then closed out ETH long positions, incurring a loss of about 10.5 million dollars, wiping out previous gains and resulting in a cumulative loss of about 4.17 million dollars.The giant whale then opened a 10x leveraged long position of approximately 383,300 SOL, valued at about 26.97 million dollars.

According to monitoring by Lookonchain, a certain address previously had an unrealized profit of 68.26 million dollars, but it has not been closed; currently, the unrealized profit has dropped to 27.59 million dollars and is close to liquidation.In the past two days, the address deposited 8.3 million USDC into Hyperliquid to avoid liquidation, with the new liquidation price set at 58.47 dollars.

According to Onchain Lens monitoring, SOL has fallen below 70 dollars. A certain whale deposited 162,560 SOL into Binance after unstaking, worth approximately 11.56 million dollars.In the past 5 days, this whale has deposited about 435,000 SOL into Binance, worth approximately 32.96 million dollars; currently, it still holds 180,950 SOL, worth approximately 12.75 million dollars.

According to the market intelligence platform Liquid247.xyz, Hyperliquid has placed approximately 87.52 buy orders for perpetual BTC at a price of $65,078, with a nominal value of about $5.696 million, retracting about 0.00% from the mid-price of approximately $65,079 at that time.The total near-end buy orders amount to approximately $11.5199 million, while sell orders are about $1.5328 million, resulting in a net buy of approximately $9.9871 million, accounting for 76.51% of the total depth.

According to The Defiant, Aave's Chief Strategy and Business Development Officer Luigi D'Onorio DeMeo stated that the amount of loans liquidated by Aave was approximately 18 million USD the previous day and about 21 million USD on that day, totaling approximately 39 million USD over the two days.The report mentioned that when the collateral assets of borrowers are insufficient to support the loans, positions may be liquidated; the liquidation amount itself does not equate to the losses of Aave lenders.

According to MLM monitoring, excluding forced liquidation transactions, the whale Technorevenant became the largest HYPE seller in the Hyperliquid spot market over the past 24 hours, selling a total of 175,819 HYPE and cashing out approximately 10.98 million USD, of which 6.85 million USD was used to repay its USDC loan on HyperCore, reducing its loan liquidation price to 49.30 USD.It is worth noting that Technorevenant's main selling operations were concentrated at the peak of HYPE perpetual contract liquidation scale and when the price reached a temporary low.

According to token unlocking data from the crypto asset data platform RootData, MultiBank (MBG) will unlock approximately 25 million tokens at 8:00 AM Beijing time on November 22, worth about 2.52 million USD.

According to the token unlocking data from the crypto asset data platform RootData, Sentient (SENT) will unlock approximately 31.844 million tokens at 0:00 Beijing time on November 22, worth about 5.32 million USD.

According to the token unlocking data from the crypto asset data platform RootData, 0G (0G) will unlock approximately 20.95 million tokens at 0:00 Beijing time on November 22, with a value of about 2.96 million USD.

According to Hyperbot monitoring, a certain address opened and closed positions multiple times between November 15, 01:51 and 10:17, liquidating a total of approximately 96.58 million USD in BTC long positions and ultimately establishing a BTC short position of about 3.5 million USD; snapshots of the positions before and after show a transition from BTC long positions to short positions.Currently, it holds approximately 3.54 million USD in BTC short positions, while the value of the long positions in the previous snapshot was about 15.06 million USD.

According to on-chain analyst Yu Jin's monitoring, a giant whale closed approximately 24,500 ETH long positions, incurring a loss of about 10.49 million dollars. The opening price of this position was around 2207.5 dollars, and the closing price was approximately 1783.3 dollars.The giant whale then opened a SOL long position, with an opening price of about 70.5 dollars and a position value of approximately 27 million dollars.