Caroline Pham, acting chair of the Commodity Futures Trading Commission, confirmed November 9 that the agency is negotiating with regulated exchanges to launch leveraged spot cryptocurrency trading. The initiative targets early December and would enable investors to trade digital assets with margin and financing on supervised platforms. Pham verified the development by responding to a social media report, marking a shift from current U.S. regulations that limit leveraged trading primarily to derivatives.

Hyperliquid has launched a borrowing and lending module on its Hypercore testnet, enabling users to borrow, supply, and withdraw assets directly onchain. The BorrowLendingProtocol (BLP) currently supports USDC and PURR during testing. The development follows Hyperliquid's October performance of $303 billion in trading volume, leading perpetual decentralized exchanges.

A major Zcash holder deposited $6.27 million into Hyperliquid and executed a long position worth $12.12 million, securing $1.25 million in profit after closing the trade. ZEC traded at $574.92, down 4.42% in 24 hours, following a peak of $744 three days earlier. Open Interest rose 9.77% to $939.31 million, reflecting increased derivatives activity.

Dogecoin encountered selling pressure at the $0.18 level after declining 31% over the past month, according to CoinMarketCap. The memecoin fell 2.67% in 24 hours, with Open Interest dropping 3.66% during the same period. Technical indicators point to continued bearish momentum as traders maintain a short-term negative sentiment.

Solana is showing early recovery signals after weeks of volatility, with the TD Sequential indicator flashing a buy signal on the daily chart near $150 support. Solana-linked ETFs accumulated over $300 million in inflows shortly after launch, contrasting with outflows from Bitcoin and Ethereum products. The development follows launches of Bitwise's Solana Staking ETF and Grayscale's Solana Trust, which analysts described as placing Solana in the same regulatory category as Bitcoin and Ethereum.

Shares of companies holding Bitcoin and Ether as treasury assets have declined sharply following recent cryptocurrency price drops. Strategy, formerly MicroStrategy, saw its market capitalization fall from approximately $128 billion in July to around $70 billion. Peter Thiel-backed firms BitMine and ETHZilla dropped over 30% and 23% respectively in the past month, according to market data.

Digital Asset Treasury Companies allocated $42.7 billion to cryptocurrency purchases in 2025, with $22.6 billion deployed in Q3 alone, data show. Bitcoin-focused entities accounted for $30.0 billion of total spending, while Ethereum treasuries spent $7.9 billion, according to CoinShares analysis.

Ethereum reclaimed the $3,500 level with a 3.7% gain in the past 24 hours. More than $56 million in ETH derivative positions were liquidated, with short sellers accounting for approximately $43 million. Open interest has climbed to multi-month highs, indicating renewed trader participation in the market.