Price manipulation attacks resulted in $42 million in losses across 51 separate incidents during 2025, according to CertiK Alert. The November 12 incident involving Popcat on Hyperliquid demonstrated coordinated manipulation tactics, triggering $63 million in liquidations through artificial buy walls and sudden order withdrawals. CertiK recorded 19 incidents in Q4 alone, approaching Q2's peak of 20 cases.

Tether has deployed approximately $1.5 billion in commodity trade financing across oil, cotton, wheat, and agricultural markets. CEO Paolo Ardoino announced on November 14 the company's plan to expand lending operations using both U.S. dollars and USDT. The initiative is backed by nearly $200 billion in reserves including U.S. Treasury bills and gold.

Publicly traded companies building digital asset treasuries are increasingly accepting in-kind token deposits instead of purchasing assets on open markets. The approach enables firms to raise capital while establishing valuations for illiquid tokens, but exposes equity investors to heightened volatility from newly launched, untested assets. This strategy diverges from established Bitcoin treasury models, which typically raise funds through conventional financing before acquiring liquid market positions.

The European Commission is proposing to transfer direct supervisory authority over all cryptocurrency companies in the EU to the European Securities and Markets Authority (ESMA). The move would replace the current Markets in Crypto-Assets (MiCA) framework, which relies on national regulators for authorization and oversight. Industry representatives have warned that reopening MiCA could introduce legal uncertainty and delay the authorization process.

Coinbase has challenged banking associations seeking to broaden the GENIUS Act's interest prohibition to cover merchant discounts and third-party rewards linked to stablecoin payments. Chief Policy Officer Faryar Shirzad said on November 13, 2025, that Congress intended the Act to ban only issuer-paid interest, not benefits from external parties. The American Bankers Association and 52 state groups had urged Treasury on November 4, 2025, to treat any economic benefit tied to stablecoin holdings as prohibited interest.

Cryptocurrency markets posted sharp declines over 24 hours, with Bitcoin falling 5.8% and Ethereum dropping 9.4%. The S&P 500 declined approximately 1.8% during the same period as investors repositioned amid rising interest rate expectations and pressure on technology stocks. Total crypto market capitalization contracted 6%, moving from approximately $3.4 trillion to $3.2 trillion, according to market data.

Grayscale filed its IPO registration with the U.S. Securities and Exchange Commission on November 14, 2024, reporting a net loss of $318.7 million and a 20% revenue decline for the first nine months of 2024. The digital asset manager oversees approximately $35 billion across more than 40 investment products. The company plans to list on the New York Stock Exchange under the ticker GRAY.

The Crypto Fear & Greed Index fell to 15 out of 100 this week, reaching extreme fear levels last seen in February and comparable to sentiment when Bitcoin traded at $18,000 in 2022, according to Santiment. The market intelligence platform suggests this capitulation phase could set up a contrarian rally as retail traders exit positions while long-term holders accumulate. Bitcoin currently trades around $101,700, with Ethereum near $3,400.