🔮 Coinbase Prediction Markets, Kraken IPO, Bitcoin Miner Fees

Good afternoon,

Happy hump day! Let’s dive right in. Coinbase is reportedly building a prediction markets platform with Kalshi, while Kraken preps for an IPO following an $800M funding round. Meanwhile, Bitcoin miner fees drop to yearly lows, U.S. Senate lawmakers push for a December vote on crypto market structure, and the Clarity Act faces delays into 2026 amid partisan tensions.

Let’s unpack it all below 👇

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News Roundup

Artificial Intelligence

• Chutes Champions Decentralized AI After Cloudflare Outage (TAO Daily)

Decentralized, Centralized, & Traditional Finance

• Block Taps Demand for Instant Credit as Cash App Borrow Surges (The Block)

• Paxos Labs and LayerZero Unveil USDG0 to Expand Stablecoin Access Across DeFi (The Defiant)

• Sky Commits $2.5B to Obex-Backed DeFi Yield Projects (The Block)

• Marshall Islands Launches UBI Program via Digital Wallet Despite IMF Warnings (Cointelegraph)

• Ondo Wins EU Approval to Offer Tokenized Stocks and ETFs Across Europe (Ondo)

• Ripple Developer Suggests Native XRP Staking Could Be Worth Exploring (DL News)

• Apex to Acquire Globacap to Expand U.S. Tokenization Push (CoinDesk)

• DeFi Lending Hits Record $41B, Led by Plasma, Aave, and Maple (DL News)

• Naver Eyes Dunamu Acquisition to Boost Digital Finance Ambitions (The Korea Times)

• Robinhood to Make Tokenized Stocks Permissionless for DeFi Users via Arbitrum Stylus (Cryptopolitan)

• HSBC Expands Tokenized Deposits to US and UAE Amid Stablecoin Arms Race (Cointelelgraph)

• South Korea to Let Big Tech Issue Stablecoins Amid Growing Bank Rivalry (DL News)

Exchanges

• Kraken Raises $800M Amid IPO Buzz, Secures $20B Valuation with Citadel Backing (Decrypt)

• Coinbase Developing Prediction Markets Platform Backed by Kalshi, Researcher Finds (Cointelegraph)

• Bullish Turns Q3 Profit on Options and U.S. Spot Trading Surge (CoinDesk)

• Kraken Files for IPO After $800M Raise, Eyes Global Expansion (Decrypt)

• Aster Launches ‘Machi Mode’ to Reward Liquidations as Machi Tops Rekt Leaderboard (Cointelegraph)

Exchange-Traded Funds

• Ark Invest Boosts Crypto Equity Holdings with New Coinbase, Circle, and Bullish Buys (The Block)

• On Nov. 18, U.S. Bitcoin spot ETFs recorded $373 million in net outflows.

• U.S. Ethereum spot ETFs posted $74.22 million in net outflows on Nov. 18.

• On Nov. 18, U.S. Solana spot ETFs saw a $30.09 million net inflow.

• Solana ETF Momentum Grows as 21Shares Joins the Race (The Block)

• BlackRock’s Bitcoin ETF Suffers Record $523M Outflow Amid Market Slump (Decrypt)

Infrastructure

• Vitalik Buterin Calls for Ethereum to Ossify as Network Matures (DL News)

• Cloudflare Blames Bot System Bug for Outage That Disrupted 20% of the Internet (Cointelegraph)

• Taurus Integrates Kaiko Data Feeds to Boost Crypto Infrastructure for Global Banks (The Block)

• New G-Knot Crypto Wallet Uses Finger Vein Scanning, No Passwords Needed (Decrypt)

• Ethereum's Fusaka Upgrade: PeerDAS and Blobs Explained Simply (Cointelegraph)

Markets

• Institutions Lean Into Crypto Despite Market Decline (Cointelegraph)

• Ether Hits Buy Zone, But Traders Stay Cautious (Cointelegraph)

• Bitcoin Jumps 4% as Stocks Slide, But Weak Institutional Demand Clouds Rally (Cointelegraph)

• Solana Bounces From $130 With Signs of Strength as ETF Inflows and Demand Rebound (Cointelegraph)

• Bitcoin’s 4-Year Cycle Faces Scrutiny as Analysts Debate Market Reset (Cointelegraph)

• Bitcoin Recovery Likely as Liquidity Improves, Though US Macro Risks Linger (Cointelegraph)

• Bitcoin Holds Above $90K as Retail Selling Deepens, Options Market Prices in Year-End Risk (The Block)

• Zcash Surges as Privacy Demand Grows and Naval Backs It as “Insurance Against Bitcoin” (Wu Blockchain)

• Bitcoin’s Drop Below $90K Hammers East Asian Crypto Stocks (DL News)

Meme Coins

• Pump’s ‘Mayhem Mode’ Fails to Lift Token Launches or Revenue (The Block)

Mining

• Canaan Shares Soar 20% as Q3 Revenue Doubles on Surging Bitcoin Miner Demand (Cointelegraph)

• Illegal Crypto Mining Costs Malaysia Over $1B in Stolen Power Since 2020 (SCMP)

• Bitcoin Miner Fees Hit Yearly Low, Highlighting Long-Term Subsidy Dependence (The Block)

• Bitcoin Miners Face Power and Software Squeeze Heading Into 2026 (Decrypt)

Politics & Regulation

• OCC Clears Banks to Hold Crypto for Operational Use (OCC)

• Senators Urge Probe into WLFI Over North Korea & Russia Ties (The Defiant)

• Rep. Brandon Gill Discloses Latest Bitcoin Buy, Now Holds Up to $2.6M in BTC (Decrypt)

• New Hampshire Approves First Bitcoin-Backed Municipal Bond (Crypto in America)

• Senate Banking Chair Targets December Vote on Crypto Market Structure Bill (The Block)

• US, UK Pushback Forces Basel to Reconsider Harsh Crypto Capital Rules (Cointelegraph)

• CFTC Chair Hails Trump’s “Golden Age of Crypto” Amid Bitcoin Turbulence (DL News)

• Senate Advances Trump’s FDIC Pick Travis Hill Amid Crypto Policy Shift (The Block)

• Kenya's Crypto Law Faces Stress Test as Bitcoin ATMs Appear in Malls (Cointelegraph)

• Clarity Act Delayed to 2026 as Tim Scott Blames Democrats for Blocking Crypto Growth (DL News)

Token Generation Events

• Monad Addresses Slowing Coinbase Token Sale as Undersubscription Risk Rises (The Block)

Treasuries & Reserves

• US Unlikely to Build Bitcoin Reserve Until Other Nations Move First, Says Mike Alfred (Cointelegraph)

• Winklevoss-Backed Cypherpunk Adds $18M Zcash as Holdings Top $150M (CoinDesk)

• AlphaTON Shifts to Active Strategy as TON Bets Expand Amid mNAV Drop (The Block)

Venture Capital

• Revolut Alumni Raise $35M to Expand Crypto Neobank Deblock into Germany (DL News)

Other News

• Who Really Drives the Santa Rally: Retail Traders or Institutional Whales? (Cointelegraph)

• ‘Shrek’ Alias Pleads Guilty in $263M Crypto Laundering Case (Decrypt)

• Hawk Tuah’s Haliey Welch Named in Meme Coin Lawsuit Over Token Collapse (Decrypt)

• Saylor Dismisses Claims Wall Street Entry Hurt Bitcoin as Volatility Declines (Cointelegraph)

• WLFI Case Could Set Precedent for Targeting Platforms Like Hyperliquid (ZachXBT)

• Bitizenship Launches Bitcoin-Based Investor Visa in Italy (Bitcoin Magazine)

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