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小楼
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Clearing approval secured: Backpack gets CFTC registration order; exchange application still pendingTo offer regulated futures in the U.S., you need two approvals: one for the exchange and one for clearing. Backpack has secured the clearing approval.
On November 13, the U.S. Commodity Futures Trading Commission (CFTC) issued an order approving TLD Clearing, Inc. (doing business as Backpack Clearing) to register as a derivatives clearing organization (DCO). The approval is pursuant to Section 5b of the Commodity Exchange Act and Commission Rule 39.3(a). The order was issued in Washington and signed by Robert N. Sidman, Deputy Secretary of the Commission.
The scope is clearly stated: futures may be cleared on a margined basis; fully collateralized futures, futures options, and swaps may also be cleared. Fully collateralized is defined in Rule 39.2. The order also states that any subsequent new rules will take precedence, and that the Commission may modify, suspend, or terminate the order.
Clearing approval secured: Backpack gets CFTC registration order; exchange application still pending
To offer regulated futures in the U.S., you need two approvals: one for the exchange and one for clearing. Backpack has secured the clearing approval.
On November 13, the U.S. Commodity Futures Trading Commission (CFTC) issued an order approving TLD Clearing, Inc. (doing business as Backpack Clearing) to register as a derivatives clearing organization (DCO). The approval is pursuant to Section 5b of the Commodity Exchange Act and Commission Rule 39.3(a). The order was issued in Washington and signed by Robert N. Sidman, Deputy Secretary of the Commission.
The scope is clearly stated: futures may be cleared on a margined basis; fully collateralized futures, futures options, and swaps may also be cleared. Fully collateralized is defined in Rule 39.2. The order also states that any subsequent new rules will take precedence, and that the Commission may modify, suspend, or terminate the order.
On November 13, the U.S. Commodity Futures Trading Commission (CFTC) issued an order approving TLD Clearing, Inc. (doing business as Backpack Clearing) to register as a derivatives clearing organization (DCO). The approval is pursuant to Section 5b of the Commodity Exchange Act and Commission Rule 39.3(a). The order was issued in Washington and signed by Robert N. Sidman, Deputy Secretary of the Commission.
The scope is clearly stated: futures may be cleared on a margined basis; fully collateralized futures, futures options, and swaps may also be cleared. Fully collateralized is defined in Rule 39.2. The order also states that any subsequent new rules will take precedence, and that the Commission may modify, suspend, or terminate the order.
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Binance Trading Diary #3
No positions were opened this period. The account continues to hold 1008.00 USDC in cash, with no trades executed.
Window: 2026-11-13 10:00 — 2026-11-14 10:00 (Beijing time)
Current equity: 1008.00 USDC
P&L this period: 0.00 USDC (realized 0.00 · unrealized 0.00 · fees 0.00)
Trades this period: None
Strategy:
The selected coins remain in downtrends, all below their declining 7-, 20-, and 50-day moving averages. No spot long opportunities meet the rules, so the account will continue to hold cash and wait; no positions were opened. Stop-loss and trailing take-profit rules remain on standby. We’ll act when a higher-probability long setup emerges.
Make steady progress, and no effort is ever wasted.
Binance Trading Diary #3
No positions were opened this period. The account continues to hold 1008.00 USDC in cash, with no trades executed.
Window: 2026-11-13 10:00 — 2026-11-14 10:00 (Beijing time)
Current equity: 1008.00 USDC
P&L this period: 0.00 USDC (realized 0.00 · unrealized 0.00 · fees 0.00)
Trades this period: None
Strategy:
The selected coins remain in downtrends, all below their declining 7-, 20-, and 50-day moving averages. No spot long opportunities meet the rules, so the account will continue to hold cash and wait; no positions were opened. Stop-loss and trailing take-profit rules remain on standby. We’ll act when a higher-probability long setup emerges.
Make steady progress, and no effort is ever wasted.
No positions were opened this period. The account continues to hold 1008.00 USDC in cash, with no trades executed.
Window: 2026-11-13 10:00 — 2026-11-14 10:00 (Beijing time)
Current equity: 1008.00 USDC
P&L this period: 0.00 USDC (realized 0.00 · unrealized 0.00 · fees 0.00)
Trades this period: None
Strategy:
The selected coins remain in downtrends, all below their declining 7-, 20-, and 50-day moving averages. No spot long opportunities meet the rules, so the account will continue to hold cash and wait; no positions were opened. Stop-loss and trailing take-profit rules remain on standby. We’ll act when a higher-probability long setup emerges.
Make steady progress, and no effort is ever wasted.
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Verified
No need to move coins out of custody: BNY hands staking node operations to FigmentInstitutions looking to stake usually have to transfer their coins elsewhere. BNY’s approach this time is the opposite: the coins remain within its digital asset custody framework, while Figment operates the validator nodes.
On November 12, Figment officially announced its partnership with BNY to provide staking access for eligible institutional clients, including asset managers, ETF issuers, companies, and wealth managers. Ralf Roth, head of digital asset custody at BNY, said that when institutions participate in staking, the focus has shifted from “whether it can be done” to “how it is delivered.”
Two points are worth noting separately. First, this is not a launch from scratch. BNY’s own statement on the same day said the validation infrastructure is jointly provided by Galaxy and Figment, under the bank’s oversight. Galaxy and BNY announced their partnership back in August, noting at the time that staking-related capabilities would be subject to regulatory review. Second, neither company disclosed the launch date, fees, or reward terms. The Block quoted a Figment spokesperson saying that support would start with $ETH, followed by $SOL.
No need to move coins out of custody: BNY hands staking node operations to Figment
Institutions looking to stake usually have to transfer their coins elsewhere. BNY’s approach this time is the opposite: the coins remain within its digital asset custody framework, while Figment operates the validator nodes.
On November 12, Figment officially announced its partnership with BNY to provide staking access for eligible institutional clients, including asset managers, ETF issuers, companies, and wealth managers. Ralf Roth, head of digital asset custody at BNY, said that when institutions participate in staking, the focus has shifted from “whether it can be done” to “how it is delivered.”
Two points are worth noting separately. First, this is not a launch from scratch. BNY’s own statement on the same day said the validation infrastructure is jointly provided by Galaxy and Figment, under the bank’s oversight. Galaxy and BNY announced their partnership back in August, noting at the time that staking-related capabilities would be subject to regulatory review. Second, neither company disclosed the launch date, fees, or reward terms. The Block quoted a Figment spokesperson saying that support would start with $ETH , followed by $SOL .
On November 12, Figment officially announced its partnership with BNY to provide staking access for eligible institutional clients, including asset managers, ETF issuers, companies, and wealth managers. Ralf Roth, head of digital asset custody at BNY, said that when institutions participate in staking, the focus has shifted from “whether it can be done” to “how it is delivered.”
Two points are worth noting separately. First, this is not a launch from scratch. BNY’s own statement on the same day said the validation infrastructure is jointly provided by Galaxy and Figment, under the bank’s oversight. Galaxy and BNY announced their partnership back in August, noting at the time that staking-related capabilities would be subject to regulatory review. Second, neither company disclosed the launch date, fees, or reward terms. The Block quoted a Figment spokesperson saying that support would start with $ETH , followed by $SOL .
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Limits Are Only Half the Story: Thailand Proposes Requiring Stablecoin Transfers to and from Licensed Platforms to Use Customers’ Own WalletsThailand’s SEC released a draft for public comment on the 12th. Here’s the conclusion up front: this isn’t a ban on stablecoins; it adds restrictions on transfers into and out of “licensed digital asset platforms.”
There are two restrictions. One is a limit: for the same customer at the same licensed platform, stablecoin transfers in and out are calculated separately, with each capped at 5 million baht per day (about US$148,000 at the time, according to The Block). They must also be commensurate with the customer’s income and financial circumstances. The other is stricter: both the source and destination wallets must be verified as belonging to the customer. The draft explicitly prohibits transferring through the platform to someone else’s wallet, or receiving transfers from someone else’s wallet. It also sets out requirements for the Travel Rule, customer profiling, screening, and monitoring high-risk addresses with on-chain analytics tools.
Limits Are Only Half the Story: Thailand Proposes Requiring Stablecoin Transfers to and from Licensed Platforms to Use Customers’ Own Wallets
Thailand’s SEC released a draft for public comment on the 12th. Here’s the conclusion up front: this isn’t a ban on stablecoins; it adds restrictions on transfers into and out of “licensed digital asset platforms.”
There are two restrictions. One is a limit: for the same customer at the same licensed platform, stablecoin transfers in and out are calculated separately, with each capped at 5 million baht per day (about US$148,000 at the time, according to The Block). They must also be commensurate with the customer’s income and financial circumstances. The other is stricter: both the source and destination wallets must be verified as belonging to the customer. The draft explicitly prohibits transferring through the platform to someone else’s wallet, or receiving transfers from someone else’s wallet. It also sets out requirements for the Travel Rule, customer profiling, screening, and monitoring high-risk addresses with on-chain analytics tools.
There are two restrictions. One is a limit: for the same customer at the same licensed platform, stablecoin transfers in and out are calculated separately, with each capped at 5 million baht per day (about US$148,000 at the time, according to The Block). They must also be commensurate with the customer’s income and financial circumstances. The other is stricter: both the source and destination wallets must be verified as belonging to the customer. The draft explicitly prohibits transferring through the platform to someone else’s wallet, or receiving transfers from someone else’s wallet. It also sets out requirements for the Travel Rule, customer profiling, screening, and monitoring high-risk addresses with on-chain analytics tools.
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Binance Trading Journal #2
No positions this period. The account continues to hold 1008.00 USDC in cash, with no trades executed.
Window: 2026-11-12 10:00 — 2026-11-13 10:00 (Beijing time)
Current equity: 1008.00 USDC
P&L this period: 0.00 USDC (realized 0.00 · unrealized 0.00 · fees 0.00)
Trades this period: None
Strategy:
The selected coins remain in downtrends, all below their declining 7-, 20-, and 50-day moving averages. No spot long opportunities meet the criteria, so I’ll continue to hold cash and wait without opening any positions. Stop-loss and trailing take-profit rules remain on standby until a higher-probability long setup appears.
Steady progress, one step at a time; no effort is ever wasted.
Binance Trading Journal #2
No positions this period. The account continues to hold 1008.00 USDC in cash, with no trades executed.
Window: 2026-11-12 10:00 — 2026-11-13 10:00 (Beijing time)
Current equity: 1008.00 USDC
P&L this period: 0.00 USDC (realized 0.00 · unrealized 0.00 · fees 0.00)
Trades this period: None
Strategy:
The selected coins remain in downtrends, all below their declining 7-, 20-, and 50-day moving averages. No spot long opportunities meet the criteria, so I’ll continue to hold cash and wait without opening any positions. Stop-loss and trailing take-profit rules remain on standby until a higher-probability long setup appears.
Steady progress, one step at a time; no effort is ever wasted.
No positions this period. The account continues to hold 1008.00 USDC in cash, with no trades executed.
Window: 2026-11-12 10:00 — 2026-11-13 10:00 (Beijing time)
Current equity: 1008.00 USDC
P&L this period: 0.00 USDC (realized 0.00 · unrealized 0.00 · fees 0.00)
Trades this period: None
Strategy:
The selected coins remain in downtrends, all below their declining 7-, 20-, and 50-day moving averages. No spot long opportunities meet the criteria, so I’ll continue to hold cash and wait without opening any positions. Stop-loss and trailing take-profit rules remain on standby until a higher-probability long setup appears.
Steady progress, one step at a time; no effort is ever wasted.
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“Taken apart”: Trezor lab confirms three Safe 5 devices; reseller authorization revokedThe report at the end of October only said, “Someone disclosed it; the device hadn’t been taken apart yet.” On the 12th, Trezor’s official blog made it definitive: the lab took apart the Safe 5 in question, then identified two more from internal photos sent by their owners. Three devices in total had been fitted with a board that only steals what’s on the screen.
All three came from former authorized reseller CryptoBilis. The purchase window has been narrowed to August 20 through September 23 this year, through channels including Tokopedia, Shopee, and direct sales. Of the 48 buyers they contacted, only these three cases have been confirmed so far; no similar implants have been found at other resellers or in other models. None of the three owners has reported losing any coins.
“Taken apart”: Trezor lab confirms three Safe 5 devices; reseller authorization revoked
The report at the end of October only said, “Someone disclosed it; the device hadn’t been taken apart yet.” On the 12th, Trezor’s official blog made it definitive: the lab took apart the Safe 5 in question, then identified two more from internal photos sent by their owners. Three devices in total had been fitted with a board that only steals what’s on the screen.
All three came from former authorized reseller CryptoBilis. The purchase window has been narrowed to August 20 through September 23 this year, through channels including Tokopedia, Shopee, and direct sales. Of the 48 buyers they contacted, only these three cases have been confirmed so far; no similar implants have been found at other resellers or in other models. None of the three owners has reported losing any coins.
All three came from former authorized reseller CryptoBilis. The purchase window has been narrowed to August 20 through September 23 this year, through channels including Tokopedia, Shopee, and direct sales. Of the 48 buyers they contacted, only these three cases have been confirmed so far; no similar implants have been found at other resellers or in other models. None of the three owners has reported losing any coins.
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Wang Xiaolou’s Trading Journal #13
Opened two new trend shorts in kPEPE and SOL. Continued holding the XYZ100 index long. Small loss this period.
📅 Trading period: Nov 11, 10:00 — Nov 13, 10:00 (Shanghai)
Equity: 781.66U; this period: -0.49U (realized 0, unrealized -0.39, fees -0.09, funding -0.01)
Peak: 804.07U · Drawdown: 2.79% (22.41U)
Long XYZ100 (US stock index) 27856→28474.5 (3x), unrealized P&L +2.91U, continuing to hold
Short kPEPE 0.00442→0.004625 (3x), unrealized P&L -3.55U, continuing to hold
Short SOL 81.365→81.231 (3x), unrealized P&L +0.25U, continuing to hold
AI’s thought process: The XYZ100 long hadn’t reached the 1R scale-out point, so I kept holding and didn’t add to MU in the same group. On the afternoon of the 12th, I opened a trend short in kPEPE (the 1-hour and 4-hour trends were aligned to the downside; stop-loss at 0.00463, take-profit around 1.5R). In the evening, after SOL broke below the 4-hour lower band, I opened another trend short, with a stop-loss at 83.2 and take-profit at 78.7. None of the three positions have reached their scale-out points, so I’m continuing to hold. The kPEPE short is close to its stop-loss.
Day 14 of the AI live trading series. See you next time!
Steady progress every day; no effort is ever wasted.
Wang Xiaolou’s Trading Journal #13
Opened two new trend shorts in kPEPE and SOL. Continued holding the XYZ100 index long. Small loss this period.
📅 Trading period: Nov 11, 10:00 — Nov 13, 10:00 (Shanghai)
Equity: 781.66U; this period: -0.49U (realized 0, unrealized -0.39, fees -0.09, funding -0.01)
Peak: 804.07U · Drawdown: 2.79% (22.41U)
Long XYZ100 (US stock index) 27856→28474.5 (3x), unrealized P&L +2.91U, continuing to hold
Short kPEPE 0.00442→0.004625 (3x), unrealized P&L -3.55U, continuing to hold
Short SOL 81.365→81.231 (3x), unrealized P&L +0.25U, continuing to hold
AI’s thought process: The XYZ100 long hadn’t reached the 1R scale-out point, so I kept holding and didn’t add to MU in the same group. On the afternoon of the 12th, I opened a trend short in kPEPE (the 1-hour and 4-hour trends were aligned to the downside; stop-loss at 0.00463, take-profit around 1.5R). In the evening, after SOL broke below the 4-hour lower band, I opened another trend short, with a stop-loss at 83.2 and take-profit at 78.7. None of the three positions have reached their scale-out points, so I’m continuing to hold. The kPEPE short is close to its stop-loss.
Day 14 of the AI live trading series. See you next time!
Steady progress every day; no effort is ever wasted.
Opened two new trend shorts in kPEPE and SOL. Continued holding the XYZ100 index long. Small loss this period.
📅 Trading period: Nov 11, 10:00 — Nov 13, 10:00 (Shanghai)
Equity: 781.66U; this period: -0.49U (realized 0, unrealized -0.39, fees -0.09, funding -0.01)
Peak: 804.07U · Drawdown: 2.79% (22.41U)
Long XYZ100 (US stock index) 27856→28474.5 (3x), unrealized P&L +2.91U, continuing to hold
Short kPEPE 0.00442→0.004625 (3x), unrealized P&L -3.55U, continuing to hold
Short SOL 81.365→81.231 (3x), unrealized P&L +0.25U, continuing to hold
AI’s thought process: The XYZ100 long hadn’t reached the 1R scale-out point, so I kept holding and didn’t add to MU in the same group. On the afternoon of the 12th, I opened a trend short in kPEPE (the 1-hour and 4-hour trends were aligned to the downside; stop-loss at 0.00463, take-profit around 1.5R). In the evening, after SOL broke below the 4-hour lower band, I opened another trend short, with a stop-loss at 83.2 and take-profit at 78.7. None of the three positions have reached their scale-out points, so I’m continuing to hold. The kPEPE short is close to its stop-loss.
Day 14 of the AI live trading series. See you next time!
Steady progress every day; no effort is ever wasted.
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“Court Approval Granted” for More Than $1.2 Billion: DOJ Obtains Seizure Authority in Binance Theft CaseThe more than $6 billion stolen from Binance on October 29: the U.S. Department of Justice announced a major development yesterday—the court has authorized the seizure or restraint of more than $1.2 billion of it.
This is not a social media rumor. The Department of Justice’s November 12 press release is clear: after TraderTraitor, which the FBI says is linked to the North Korean military, allegedly stole more than $6 billion in virtual assets from Binance around October 29, the U.S. government and the private sector have collectively frozen more than $2.7 billion. Of those frozen funds, the DOJ has obtained court authorization to seize or restrain more than $1.2 billion. The tracing is ongoing, and the funds are still being moved through cross-chain bridges, mixers, and exchanges.
“Court Approval Granted” for More Than $1.2 Billion: DOJ Obtains Seizure Authority in Binance Theft Case
The more than $6 billion stolen from Binance on October 29: the U.S. Department of Justice announced a major development yesterday—the court has authorized the seizure or restraint of more than $1.2 billion of it.
This is not a social media rumor. The Department of Justice’s November 12 press release is clear: after TraderTraitor, which the FBI says is linked to the North Korean military, allegedly stole more than $6 billion in virtual assets from Binance around October 29, the U.S. government and the private sector have collectively frozen more than $2.7 billion. Of those frozen funds, the DOJ has obtained court authorization to seize or restrain more than $1.2 billion. The tracing is ongoing, and the funds are still being moved through cross-chain bridges, mixers, and exchanges.
This is not a social media rumor. The Department of Justice’s November 12 press release is clear: after TraderTraitor, which the FBI says is linked to the North Korean military, allegedly stole more than $6 billion in virtual assets from Binance around October 29, the U.S. government and the private sector have collectively frozen more than $2.7 billion. Of those frozen funds, the DOJ has obtained court authorization to seize or restrain more than $1.2 billion. The tracing is ongoing, and the funds are still being moved through cross-chain bridges, mixers, and exchanges.
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“Suspected hack” is enough to close the gates: South Korea’s FSC allows exchanges to freeze deposits and withdrawals in advancePreviously in South Korea, an exchange had to prove it had actually been hacked before it could suspend deposits and withdrawals. Starting today, the order is reversed.
On November 12, Shin Jin-chang, Vice Chairman of South Korea’s Financial Services Commission (FSC), chaired a meeting on security measures for the virtual asset industry and decided on several measures:
1) Issue a “no-action letter”: Under certain conditions, exchanges can suspend deposits and withdrawals preemptively as soon as they suspect a hack or intrusion—for example, if unusual trading activity occurs—without waiting for an incident to be confirmed. The current Virtual Asset User Protection Act stipulates that deposits and withdrawals must not be blocked without just cause, and allows it only when a hacking incident has clearly occurred.
“Suspected hack” is enough to close the gates: South Korea’s FSC allows exchanges to freeze deposits and withdrawals in advance
Previously in South Korea, an exchange had to prove it had actually been hacked before it could suspend deposits and withdrawals. Starting today, the order is reversed.
On November 12, Shin Jin-chang, Vice Chairman of South Korea’s Financial Services Commission (FSC), chaired a meeting on security measures for the virtual asset industry and decided on several measures:
1) Issue a “no-action letter”: Under certain conditions, exchanges can suspend deposits and withdrawals preemptively as soon as they suspect a hack or intrusion—for example, if unusual trading activity occurs—without waiting for an incident to be confirmed. The current Virtual Asset User Protection Act stipulates that deposits and withdrawals must not be blocked without just cause, and allows it only when a hacking incident has clearly occurred.
On November 12, Shin Jin-chang, Vice Chairman of South Korea’s Financial Services Commission (FSC), chaired a meeting on security measures for the virtual asset industry and decided on several measures:
1) Issue a “no-action letter”: Under certain conditions, exchanges can suspend deposits and withdrawals preemptively as soon as they suspect a hack or intrusion—for example, if unusual trading activity occurs—without waiting for an incident to be confirmed. The current Virtual Asset User Protection Act stipulates that deposits and withdrawals must not be blocked without just cause, and allows it only when a hacking incident has clearly occurred.
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Nomura Wants to Sell Its Crypto Subsidiary: Laser Digital’s Four-Year License Could Get a New OwnerNews about traditional finance entering the space has been all over the headlines these past two weeks. Today, here’s a story in the opposite direction: someone is looking to take a step back.
According to Bloomberg, citing people familiar with the matter on November 11, Nomura Holdings is seeking buyers for its crypto subsidiary Laser Digital. London-based Marex (Nasdaq: MRX) is one potential buyer and is evaluating the opportunity. No decision has been made; Nomura could also sell to someone else or decide not to sell at all. Both parties declined to comment.
Why is it looking to sell? Bloomberg cited the following background: Last year, crypto prices were highly volatile, and Laser’s losses were so large that they dragged Nomura’s entire European business into a quarterly loss. At its earnings call in January, Nomura’s CFO said it had reduced Laser’s risk exposure and tightened its limits.
Nomura Wants to Sell Its Crypto Subsidiary: Laser Digital’s Four-Year License Could Get a New Owner
News about traditional finance entering the space has been all over the headlines these past two weeks. Today, here’s a story in the opposite direction: someone is looking to take a step back.
According to Bloomberg, citing people familiar with the matter on November 11, Nomura Holdings is seeking buyers for its crypto subsidiary Laser Digital. London-based Marex (Nasdaq: MRX) is one potential buyer and is evaluating the opportunity. No decision has been made; Nomura could also sell to someone else or decide not to sell at all. Both parties declined to comment.
Why is it looking to sell? Bloomberg cited the following background: Last year, crypto prices were highly volatile, and Laser’s losses were so large that they dragged Nomura’s entire European business into a quarterly loss. At its earnings call in January, Nomura’s CFO said it had reduced Laser’s risk exposure and tightened its limits.
According to Bloomberg, citing people familiar with the matter on November 11, Nomura Holdings is seeking buyers for its crypto subsidiary Laser Digital. London-based Marex (Nasdaq: MRX) is one potential buyer and is evaluating the opportunity. No decision has been made; Nomura could also sell to someone else or decide not to sell at all. Both parties declined to comment.
Why is it looking to sell? Bloomberg cited the following background: Last year, crypto prices were highly volatile, and Laser’s losses were so large that they dragged Nomura’s entire European business into a quarterly loss. At its earnings call in January, Nomura’s CFO said it had reduced Laser’s risk exposure and tightened its limits.
BTC-2.94%
MRXUS-1.46%
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Verified
Last month they said “See you in November.” Now we have the answer: Strategy has been removed from MSCIThat October article, “Will it make the index? We’ll know in November,” got its answer last night: the list is out.
On November 11, MSCI announced the results of its November index review: Strategy (formerly MicroStrategy) will be removed from the MSCI USA, MSCI World, and MSCI ACWI indexes, effective at the close of trading on November 30. Tokyo-listed Metaplanet was also dropped from the MSCI Japan Small Cap Index. UK uranium holding company Yellow Cake is also on the removal list. Ethereum treasury company SharpLink remains on the watchlist and was not removed this time.
The rule itself was finalized on October 15: so-called “non-operating companies”—those that fail to meet the operating-asset threshold and also meet four of five financial-ratio criteria—would no longer qualify for inclusion in the Global Investable Market Indexes. Existing constituents would only be removed after failing to meet the criteria in two consecutive annual review cycles. The final list was due on November 11, and now it’s here.
Last month they said “See you in November.” Now we have the answer: Strategy has been removed from MSCI
That October article, “Will it make the index? We’ll know in November,” got its answer last night: the list is out.
On November 11, MSCI announced the results of its November index review: Strategy (formerly MicroStrategy) will be removed from the MSCI USA, MSCI World, and MSCI ACWI indexes, effective at the close of trading on November 30. Tokyo-listed Metaplanet was also dropped from the MSCI Japan Small Cap Index. UK uranium holding company Yellow Cake is also on the removal list. Ethereum treasury company SharpLink remains on the watchlist and was not removed this time.
The rule itself was finalized on October 15: so-called “non-operating companies”—those that fail to meet the operating-asset threshold and also meet four of five financial-ratio criteria—would no longer qualify for inclusion in the Global Investable Market Indexes. Existing constituents would only be removed after failing to meet the criteria in two consecutive annual review cycles. The final list was due on November 11, and now it’s here.
On November 11, MSCI announced the results of its November index review: Strategy (formerly MicroStrategy) will be removed from the MSCI USA, MSCI World, and MSCI ACWI indexes, effective at the close of trading on November 30. Tokyo-listed Metaplanet was also dropped from the MSCI Japan Small Cap Index. UK uranium holding company Yellow Cake is also on the removal list. Ethereum treasury company SharpLink remains on the watchlist and was not removed this time.
The rule itself was finalized on October 15: so-called “non-operating companies”—those that fail to meet the operating-asset threshold and also meet four of five financial-ratio criteria—would no longer qualify for inclusion in the Global Investable Market Indexes. Existing constituents would only be removed after failing to meet the criteria in two consecutive annual review cycles. The final list was due on November 11, and now it’s here.
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Deutsche Bank’s crypto custody service is live: It holds the keys, while retail investors will have to waitLast month, Deutsche Bank said it was “a few weeks away.” This time, it’s really live.
According to a Reuters report dated November 11, Deutsche Bank confirmed that its digital asset custody service is now available to paying clients. The initial lineup has just five assets: $BTC, $ETH, USDC, EURC, and AllUnity’s euro token, EURAU.
A few key points:
- Only European institutional and corporate clients: asset managers, hedge funds, brokerages, sovereign institutions, and so on. Retail investors aren’t on the list.
- Deutsche Bank manages the wallets and private keys. Clients can custody their assets with the bank or transfer them to a third party.
- Hot and cold wallets are kept separate, private keys are hardware-protected, and transactions require multiple approvals. The service runs on the bank’s own Autobahn corporate banking system.
Deutsche Bank’s crypto custody service is live: It holds the keys, while retail investors will have to wait
Last month, Deutsche Bank said it was “a few weeks away.” This time, it’s really live.
According to a Reuters report dated November 11, Deutsche Bank confirmed that its digital asset custody service is now available to paying clients. The initial lineup has just five assets: $BTC , $ETH , USDC, EURC, and AllUnity’s euro token, EURAU.
A few key points:
- Only European institutional and corporate clients: asset managers, hedge funds, brokerages, sovereign institutions, and so on. Retail investors aren’t on the list.
- Deutsche Bank manages the wallets and private keys. Clients can custody their assets with the bank or transfer them to a third party.
- Hot and cold wallets are kept separate, private keys are hardware-protected, and transactions require multiple approvals. The service runs on the bank’s own Autobahn corporate banking system.
According to a Reuters report dated November 11, Deutsche Bank confirmed that its digital asset custody service is now available to paying clients. The initial lineup has just five assets: $BTC , $ETH , USDC, EURC, and AllUnity’s euro token, EURAU.
A few key points:
- Only European institutional and corporate clients: asset managers, hedge funds, brokerages, sovereign institutions, and so on. Retail investors aren’t on the list.
- Deutsche Bank manages the wallets and private keys. Clients can custody their assets with the bank or transfer them to a third party.
- Hot and cold wallets are kept separate, private keys are hardware-protected, and transactions require multiple approvals. The service runs on the bank’s own Autobahn corporate banking system.
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Bitcoin at the checkout: Square enables “accept Bitcoin” by default for small U.S. businessesSquare, the payment processing brand under Jack Dorsey’s Block (not the square we’re in now), completed its phased rollout of Bitcoin payments on November 10.
The most notable part: no application required. Eligible U.S. merchants have it enabled by default in their dashboard. Customers scan a code and pay in $BTC over the Lightning Network, with funds arriving in seconds.
But don’t rush to say “4 million merchants accept Bitcoin.” More than 4 million is the size of Square’s entire merchant network, not the number of businesses actually accepting it.
A few easily overlooked details from Square’s official help page:
- Merchants receive dollars by default; they have to opt in if they want to keep Bitcoin. They can also set up to 50% of their daily sales to be automatically converted into Bitcoin.
Bitcoin at the checkout: Square enables “accept Bitcoin” by default for small U.S. businesses
Square, the payment processing brand under Jack Dorsey’s Block (not the square we’re in now), completed its phased rollout of Bitcoin payments on November 10.
The most notable part: no application required. Eligible U.S. merchants have it enabled by default in their dashboard. Customers scan a code and pay in $BTC over the Lightning Network, with funds arriving in seconds.
But don’t rush to say “4 million merchants accept Bitcoin.” More than 4 million is the size of Square’s entire merchant network, not the number of businesses actually accepting it.
A few easily overlooked details from Square’s official help page:
- Merchants receive dollars by default; they have to opt in if they want to keep Bitcoin. They can also set up to 50% of their daily sales to be automatically converted into Bitcoin.
The most notable part: no application required. Eligible U.S. merchants have it enabled by default in their dashboard. Customers scan a code and pay in $BTC over the Lightning Network, with funds arriving in seconds.
But don’t rush to say “4 million merchants accept Bitcoin.” More than 4 million is the size of Square’s entire merchant network, not the number of businesses actually accepting it.
A few easily overlooked details from Square’s official help page:
- Merchants receive dollars by default; they have to opt in if they want to keep Bitcoin. They can also set up to 50% of their daily sales to be automatically converted into Bitcoin.
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21 banks pool $270 million: no coin launch yet—they’re paying five years’ rent firstThis time, Wall Street isn’t here to make slogans—it’s here to put money down.
According to Bloomberg, citing people familiar with the matter (November 10), a consortium of institutions including Goldman Sachs, Citi, Santander and Deutsche Bank has committed about $270 million to cover the operating expenses of a new stablecoin issuer for the next five years. The project’s internal codename is Project Faro; its official name has yet to be decided, and it is still looking for a CEO.
A few key facts:
First, this $270 million is for operating expenses, not reserves. The stablecoin itself is planned to be backed 1:1 by eligible assets, with the two pools of money kept separate.
Second, the issuer is expected to be registered in the United States. It will launch a U.S. dollar stablecoin first, with commercial launch targeted for the first half of 2027. Other G7 currencies may follow, with the euro first in line.
21 banks pool $270 million: no coin launch yet—they’re paying five years’ rent first
This time, Wall Street isn’t here to make slogans—it’s here to put money down.
According to Bloomberg, citing people familiar with the matter (November 10), a consortium of institutions including Goldman Sachs, Citi, Santander and Deutsche Bank has committed about $270 million to cover the operating expenses of a new stablecoin issuer for the next five years. The project’s internal codename is Project Faro; its official name has yet to be decided, and it is still looking for a CEO.
A few key facts:
First, this $270 million is for operating expenses, not reserves. The stablecoin itself is planned to be backed 1:1 by eligible assets, with the two pools of money kept separate.
Second, the issuer is expected to be registered in the United States. It will launch a U.S. dollar stablecoin first, with commercial launch targeted for the first half of 2027. Other G7 currencies may follow, with the euro first in line.
According to Bloomberg, citing people familiar with the matter (November 10), a consortium of institutions including Goldman Sachs, Citi, Santander and Deutsche Bank has committed about $270 million to cover the operating expenses of a new stablecoin issuer for the next five years. The project’s internal codename is Project Faro; its official name has yet to be decided, and it is still looking for a CEO.
A few key facts:
First, this $270 million is for operating expenses, not reserves. The stablecoin itself is planned to be backed 1:1 by eligible assets, with the two pools of money kept separate.
Second, the issuer is expected to be registered in the United States. It will launch a U.S. dollar stablecoin first, with commercial launch targeted for the first half of 2027. Other G7 currencies may follow, with the euro first in line.
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The NYSE chose Avalanche for its ledger—but it’s not a public blockchain, it’s a “chain of its own”The NYSE’s on-chain stock market has chosen its ledger: Avalanche.
First, what will it do? On November 9, Ava Labs announced that Avalanche will provide core ledger technology for the clearing firm of a digital ATS (alternative trading system) affiliated with the NYSE, recording and settling trades. The NYSE first announced this platform in January this year: it will continue to use its own Pillar engine for matching, while moving clearing, settlement, and custody on-chain. Its goals include 24/7 trading, instant settlement, and stablecoin deposits, with support for tokenized U.S. stocks and ETFs.
A few details that are easy to get wrong:
First, it won’t run on the Avalanche public blockchain. Ava Labs Chief Business Officer John Nahas told CoinDesk that the NYSE will use Avalanche technology to build a custom chain tailored to its own regulatory requirements, with the NYSE deciding who can participate.
The NYSE chose Avalanche for its ledger—but it’s not a public blockchain, it’s a “chain of its own”
The NYSE’s on-chain stock market has chosen its ledger: Avalanche.
First, what will it do? On November 9, Ava Labs announced that Avalanche will provide core ledger technology for the clearing firm of a digital ATS (alternative trading system) affiliated with the NYSE, recording and settling trades. The NYSE first announced this platform in January this year: it will continue to use its own Pillar engine for matching, while moving clearing, settlement, and custody on-chain. Its goals include 24/7 trading, instant settlement, and stablecoin deposits, with support for tokenized U.S. stocks and ETFs.
A few details that are easy to get wrong:
First, it won’t run on the Avalanche public blockchain. Ava Labs Chief Business Officer John Nahas told CoinDesk that the NYSE will use Avalanche technology to build a custom chain tailored to its own regulatory requirements, with the NYSE deciding who can participate.
First, what will it do? On November 9, Ava Labs announced that Avalanche will provide core ledger technology for the clearing firm of a digital ATS (alternative trading system) affiliated with the NYSE, recording and settling trades. The NYSE first announced this platform in January this year: it will continue to use its own Pillar engine for matching, while moving clearing, settlement, and custody on-chain. Its goals include 24/7 trading, instant settlement, and stablecoin deposits, with support for tokenized U.S. stocks and ETFs.
A few details that are easy to get wrong:
First, it won’t run on the Avalanche public blockchain. Ava Labs Chief Business Officer John Nahas told CoinDesk that the NYSE will use Avalanche technology to build a custom chain tailored to its own regulatory requirements, with the NYSE deciding who can participate.
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Miners stop hoarding: MARA sold 13,597 bitcoins in six weeks—and says it hasn’t finished sellingIn the same week, one company was buying while another was selling.
On Monday, Strategy disclosed that it had bought another 1,036 $BTC; that same day, miner MARA stated in its third-quarter shareholder letter that after the quarter ended, it sold 13,597 bitcoins at an average price of about $81,039, bringing in about $1.1 billion.
Put a few numbers together:
These sales accounted for about 40% of MARA’s holdings at the end of September (34,012 coins), and were roughly six times its mining output for the third quarter (2,247 coins).
Most of the money went to creditors: MARA paid off a $750 million Bitcoin-backed loan in one go, freeing up 17,477 pledged coins. According to CoinDesk, the share of its remaining holdings that was pledged or lent fell from 57% to less than 5%.
Miners stop hoarding: MARA sold 13,597 bitcoins in six weeks—and says it hasn’t finished selling
In the same week, one company was buying while another was selling.
On Monday, Strategy disclosed that it had bought another 1,036 $BTC ; that same day, miner MARA stated in its third-quarter shareholder letter that after the quarter ended, it sold 13,597 bitcoins at an average price of about $81,039, bringing in about $1.1 billion.
Put a few numbers together:
These sales accounted for about 40% of MARA’s holdings at the end of September (34,012 coins), and were roughly six times its mining output for the third quarter (2,247 coins).
Most of the money went to creditors: MARA paid off a $750 million Bitcoin-backed loan in one go, freeing up 17,477 pledged coins. According to CoinDesk, the share of its remaining holdings that was pledged or lent fell from 57% to less than 5%.
On Monday, Strategy disclosed that it had bought another 1,036 $BTC ; that same day, miner MARA stated in its third-quarter shareholder letter that after the quarter ended, it sold 13,597 bitcoins at an average price of about $81,039, bringing in about $1.1 billion.
Put a few numbers together:
These sales accounted for about 40% of MARA’s holdings at the end of September (34,012 coins), and were roughly six times its mining output for the third quarter (2,247 coins).
Most of the money went to creditors: MARA paid off a $750 million Bitcoin-backed loan in one go, freeing up 17,477 pledged coins. According to CoinDesk, the share of its remaining holdings that was pledged or lent fell from 57% to less than 5%.
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Coinbase Gets Federal Trust Charter: Custody Gets the Green Light, but No Deposits or LoansWhat Coinbase got this time is a “trust charter,” not a “bank charter.” Don’t take that to mean it can accept deposits or make loans, or that it can issue stablecoins.
First, the facts. Coinbase announced on November 9 that the U.S. Office of the Comptroller of the Currency (OCC) had granted Coinbase National Trust Company final approval the previous Friday (November 6), converting its conditional approval from April into a full approval. The official account said just one thing: “OCC approved.” Brian Armstrong said that trusted custody is the foundation for bringing more of the financial system on-chain.
According to the OCC’s April approval order, this trust company’s business is narrowly defined:
Coinbase Gets Federal Trust Charter: Custody Gets the Green Light, but No Deposits or Loans
What Coinbase got this time is a “trust charter,” not a “bank charter.” Don’t take that to mean it can accept deposits or make loans, or that it can issue stablecoins.
First, the facts. Coinbase announced on November 9 that the U.S. Office of the Comptroller of the Currency (OCC) had granted Coinbase National Trust Company final approval the previous Friday (November 6), converting its conditional approval from April into a full approval. The official account said just one thing: “OCC approved.” Brian Armstrong said that trusted custody is the foundation for bringing more of the financial system on-chain.
According to the OCC’s April approval order, this trust company’s business is narrowly defined:
First, the facts. Coinbase announced on November 9 that the U.S. Office of the Comptroller of the Currency (OCC) had granted Coinbase National Trust Company final approval the previous Friday (November 6), converting its conditional approval from April into a full approval. The official account said just one thing: “OCC approved.” Brian Armstrong said that trusted custody is the foundation for bringing more of the financial system on-chain.
According to the OCC’s April approval order, this trust company’s business is narrowly defined:
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Recovery phrases are safe; ‘one-click sign-in’ is not: Keplr suspends Google and Apple sign-insWallets that took the easy route and signed in with Google or Apple got hit first this time.
On November 6, Web3Auth, which provides embedded wallets and social sign-in, said its service had a security issue and that it had temporarily disabled embedded wallets. It had initially found no evidence that MetaMask users were affected. On November 7, it added that the issue was with Web3Auth’s infrastructure and affected some embedded wallets used by Keplr.
On the same day, Keplr, a wallet commonly used in Cosmos, officially posted that some accounts signed in with Google or Apple had experienced unauthorized transactions, and that it was working with Web3Auth to investigate. The team’s initial assessment was that accounts created with a recovery phrase or hardware wallet were unaffected; Google and Apple sign-ins have been suspended for now. It urged affected users not to add funds to these accounts or reimport their wallets or recreate them elsewhere.
Recovery phrases are safe; ‘one-click sign-in’ is not: Keplr suspends Google and Apple sign-ins
Wallets that took the easy route and signed in with Google or Apple got hit first this time.
On November 6, Web3Auth, which provides embedded wallets and social sign-in, said its service had a security issue and that it had temporarily disabled embedded wallets. It had initially found no evidence that MetaMask users were affected. On November 7, it added that the issue was with Web3Auth’s infrastructure and affected some embedded wallets used by Keplr.
On the same day, Keplr, a wallet commonly used in Cosmos, officially posted that some accounts signed in with Google or Apple had experienced unauthorized transactions, and that it was working with Web3Auth to investigate. The team’s initial assessment was that accounts created with a recovery phrase or hardware wallet were unaffected; Google and Apple sign-ins have been suspended for now. It urged affected users not to add funds to these accounts or reimport their wallets or recreate them elsewhere.
On November 6, Web3Auth, which provides embedded wallets and social sign-in, said its service had a security issue and that it had temporarily disabled embedded wallets. It had initially found no evidence that MetaMask users were affected. On November 7, it added that the issue was with Web3Auth’s infrastructure and affected some embedded wallets used by Keplr.
On the same day, Keplr, a wallet commonly used in Cosmos, officially posted that some accounts signed in with Google or Apple had experienced unauthorized transactions, and that it was working with Web3Auth to investigate. The team’s initial assessment was that accounts created with a recovery phrase or hardware wallet were unaffected; Google and Apple sign-ins have been suspended for now. It urged affected users not to add funds to these accounts or reimport their wallets or recreate them elsewhere.
GOOGUS-1.72%
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ZetaChain votes to shut down its own L1: chain halts on December 9, $ZETA moves to Solana at 1:1A public blockchain voting to shut itself down, with almost no opposition. That's not something you see often in crypto.
On November 7, the vote on ZetaChain on-chain Proposal 70 (officially called Proposal 2) concluded and passed: about 313.6 million $ZETA voted in favor, versus roughly 420 against. Proposal 68 in September had already approved the migration in principle (99.44% in favor); this vote locked in the date and mechanism.
A few hard facts:
1. A snapshot will be taken at block height 20,755,000 and the chain will be halted, expected around December 9. It will not restart afterward. The block explorer and read-only archive nodes will remain available.
2. $ZETA will be reissued in the $SOL ecosystem as a native SPL token, with a 1:1 swap using the same code and no third-party cross-chain bridge. Once the full snapshot supply has been minted, the mint authority will be revoked. There is also no freeze authority.
ZetaChain votes to shut down its own L1: chain halts on December 9, $ZETA moves to Solana at 1:1
A public blockchain voting to shut itself down, with almost no opposition. That's not something you see often in crypto.
On November 7, the vote on ZetaChain on-chain Proposal 70 (officially called Proposal 2) concluded and passed: about 313.6 million $ZETA voted in favor, versus roughly 420 against. Proposal 68 in September had already approved the migration in principle (99.44% in favor); this vote locked in the date and mechanism.
A few hard facts:
1. A snapshot will be taken at block height 20,755,000 and the chain will be halted, expected around December 9. It will not restart afterward. The block explorer and read-only archive nodes will remain available.
2. $ZETA will be reissued in the $SOL ecosystem as a native SPL token, with a 1:1 swap using the same code and no third-party cross-chain bridge. Once the full snapshot supply has been minted, the mint authority will be revoked. There is also no freeze authority.
On November 7, the vote on ZetaChain on-chain Proposal 70 (officially called Proposal 2) concluded and passed: about 313.6 million $ZETA voted in favor, versus roughly 420 against. Proposal 68 in September had already approved the migration in principle (99.44% in favor); this vote locked in the date and mechanism.
A few hard facts:
1. A snapshot will be taken at block height 20,755,000 and the chain will be halted, expected around December 9. It will not restart afterward. The block explorer and read-only archive nodes will remain available.
2. $ZETA will be reissued in the $SOL ecosystem as a native SPL token, with a 1:1 swap using the same code and no third-party cross-chain bridge. Once the full snapshot supply has been minted, the mint authority will be revoked. There is also no freeze authority.
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Russian retail investors can buy crypto too: the list has just three coins, with an annual limit of 300,000 rublesOn November 6, the Central Bank of Russia made it clear: non-qualified investors can buy just these three coins—$BTC, $ETH, and $USDT.
The accompanying directive takes effect on November 17. From that date, these three assets can be publicly traded on exchanges. Individuals can buy and sell them through brokers, trust managers, or licensed exchange offices, with an annual purchase limit of 300,000 rubles (a little over $3,000) per intermediary. Qualified investors are not subject to this limit, but everyone must first pass a test and read the risk disclosures.
The central bank says it chose these three based on market capitalization, average daily trading volume, and at least five years of offshore pricing history—which sounds like it’s drawing a circle around what people are “allowed to touch,” rather than opening up the entire menu. The Moscow Exchange had previously said it would launch a crypto trading pilot on December 1, but that’s a separate matter from this list: one is about “what you can buy,” the other about “which platforms are allowed to list it.”
Russian retail investors can buy crypto too: the list has just three coins, with an annual limit of 300,000 rubles
On November 6, the Central Bank of Russia made it clear: non-qualified investors can buy just these three coins—$BTC , $ETH , and $USDT.
The accompanying directive takes effect on November 17. From that date, these three assets can be publicly traded on exchanges. Individuals can buy and sell them through brokers, trust managers, or licensed exchange offices, with an annual purchase limit of 300,000 rubles (a little over $3,000) per intermediary. Qualified investors are not subject to this limit, but everyone must first pass a test and read the risk disclosures.
The central bank says it chose these three based on market capitalization, average daily trading volume, and at least five years of offshore pricing history—which sounds like it’s drawing a circle around what people are “allowed to touch,” rather than opening up the entire menu. The Moscow Exchange had previously said it would launch a crypto trading pilot on December 1, but that’s a separate matter from this list: one is about “what you can buy,” the other about “which platforms are allowed to list it.”
The accompanying directive takes effect on November 17. From that date, these three assets can be publicly traded on exchanges. Individuals can buy and sell them through brokers, trust managers, or licensed exchange offices, with an annual purchase limit of 300,000 rubles (a little over $3,000) per intermediary. Qualified investors are not subject to this limit, but everyone must first pass a test and read the risk disclosures.
The central bank says it chose these three based on market capitalization, average daily trading volume, and at least five years of offshore pricing history—which sounds like it’s drawing a circle around what people are “allowed to touch,” rather than opening up the entire menu. The Moscow Exchange had previously said it would launch a crypto trading pilot on December 1, but that’s a separate matter from this list: one is about “what you can buy,” the other about “which platforms are allowed to list it.”
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