South Korean exchange Upbit halted Solana deposits and withdrawals following a hot wallet breach on November 27 that drained approximately $36.8 million in SOL-based tokens. The incident affected one Solana wallet holding assets including SOL, USDC, BONK, and other ecosystem tokens. The platform immediately transferred remaining Solana assets to cold storage and froze roughly $8.2 million in tokens through collaboration with project teams.

South Korean cryptocurrency exchange Upbit suspended all deposit and withdrawal operations on November 27 after detecting an unauthorized transfer of approximately $38.5 million in digital assets. The breach affected multiple Solana-based tokens, including SOL, USDC, BONK, and others. The exchange has pledged to cover all customer losses using its own reserves, with services to resume after completion of security reviews.

Australia's Treasury presented legislation to parliament on Wednesday mandating that certain cryptocurrency service providers obtain financial services licenses. The Corporations Amendment (Digital Assets Framework) Bill 2025 would require digital asset platforms and tokenized custody platforms to hold an Australian Financial Services Licence (AFSL). The bill follows a September consultation period and received its first reading on Wednesday.

Robinhood and Susquehanna International Group secured controlling ownership of LedgerX, a federally licensed derivatives clearinghouse. The acquisition provides Robinhood immediate regulatory approval to operate futures and event-based contracts. The move positions the platform to compete directly with Kalshi, Polymarket, and Coinbase in the expanding prediction markets sector.

Visa announced a partnership with Aquanow on November 27 to enhance payment settlements using stablecoins, targeting financial institutions across Central and Eastern Europe, the Middle East, and Africa. The collaboration aims to accelerate cross-border transactions and reduce costs through blockchain technology integration. Visa's annualized transaction rate using USDC now exceeds $2.5 billion.

South Korea's Upbit halted deposit and withdrawal services following unauthorized transfers of approximately $37 million in Solana-based tokens on Nov. 27. The exchange relocated remaining assets to cold storage and initiated comprehensive security audits across all blockchain networks. Upbit committed to fully compensating affected users from corporate reserves.

S&P Global Ratings downgraded Tether's USDT stability assessment from 'constrained' to 'weak' on Wednesday, citing increased exposure to volatile assets including Bitcoin and transparency concerns. The move has sparked intense debate among China's estimated 20 million underground crypto users who rely heavily on USDT despite the national ban on digital asset trading.

Nasdaq-listed ALT5 Sigma Corporation has seen its share price fall 80% following its August announcement to accumulate World Liberty Financial (WLFI) tokens. The fintech firm, which repositioned itself as a digital asset treasury in 2024, now faces executive departures, potential regulatory scrutiny, and investor backlash. The company had proposed raising $1.5 billion for WLFI token reserves, but the initiative faces mounting challenges from internal instability and governance concerns.