🔓 Upbit Hacked, Monad Slumps, Meme Coins Fade

Upbit reels from $30M Solana wallet hack, Monad slides more than 15%, meme coin activity on Solana hits a two-year low, and more.

Author

Bernadette Winston
November 28, 2025

In partnership with

Good afternoon,

Markets are showing renewed optimism as Bitcoin climbs back above $91K, fueled by growing bets on a December Fed rate cut. Meanwhile, Upbit reels from a $30 million Solana hot-wallet breach but vows full reimbursement to those impacted, and the newly launched Monad token slips amid sell pressure and spoofed transfers. Plus, Solana's meme coin trading drops to its lowest share in nearly two years.

Let’s unpack all this and more! 👇

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News Roundup

Decentralized, Centralized, & Traditional Finance

  • UAE Unveils sweeping Crypto Banking Reforms (CoinDesk)

  • Securitize Wins EU Approval to Launch Tokenized Securities Platform on Avalanche (CoinDesk)

  • Xapo Bank Expands Bitcoin Credit Fund for Yield-Focused BTC Holders (The Block)

  • Tether Rebukes S&P After USDT Peg Stability Downgrade (Decrypt)

  • Nasdaq ISE Seeks Major Expansion of IBIT Options Limits (CoinDesk)

  • Ripple’s RLUSD Wins ADGM Approval as Accepted Fiat-Referenced Token (Ripple)

  • Animoca Bets on Altcoin Upside as It Prepares for Public Listing (Cointelegraph)

  • Visa Taps Aquanow to Expand Stablecoin Settlement Capabilities (Reuters)

  • Bitcoiners Slam JPMorgan Over Leveraged BTC Notes and Index Policy Fallout (Cointelegraph)

  • Balancer Proposes $8M Reimbursement Plan After $128M Exploit (Decrypt)

  • Polygon Exec Says Stablecoins Entering a ‘Super Cycle’ (Fintech Times)

  • Amundi Tokenizes €5B Money Market Fund on Ethereum (Cryptopolitan)

  • Uzbekistan Approves Stablecoin Payments in 2026 Sandbox Program (Cointelegraph)

Exchanges

  • Hyperliquid Faces Backlash for Reassigning Pixelmon’s MON Ticker (The Defiant)

  • Global Exchanges Warn SEC Against Broad Crypto Exemptions, Tokenized Stocks (Decrypt)

  • Upbit Suffers $30M Solana Hot-Wallet Breach, Pledges Full Reimbursement (Upbit)

  • Binance Lists APRO and Launches 20M AT HODLer Airdrop (Binance)

  • Authorities Probe Possible Lazarus Group Involvement in Upbit Hack (Yonhap)

  • Global Futures Resume After 11-Hour CME Outage (Reuters)

  • Upbit Audit Finds Wallet Flaw After $30M Hack (The Block)

  • KuCoin EU Secures MiCA License in Austria for EEA-Wide Expansion (CoinDesk)

Exchange-Traded Products

  • Franklin Templeton Eyes Diversified Crypto ETFs After XRP Fund Debut (The Block)

  • Ark Invest Scoops Up More Coinbase Shares (The Block)

  • On Nov. 26, Ethereum Leads ETF Inflows as Market Sees Mixed Activity Across Assets (SoSoValue)

  • Bonk Debuts Regulated ETP on Switzerland’s SIX Exchange (Decrypt)

  • Solana ETFs See First Outflow With $8.1M Withdrawal (Decrypt)

  • XRP ETFs Spur Bullish Outlook as Inflows Outpace Bitcoin and Ethereum (DL News)

Infrastructure

  • Ethereum Lifts Block Gas Limit to 60M Ahead of Fusaka Upgrade (The Block)

  • Vitalik Backs Encrypted Messaging with Major ETH Donations (Vitalik Buterin)

  • Naver–Upbit Merger Sparks $7B Push Into AI-Blockchain Finance Infra (The Block)

  • Crypto Developers Face Growing Tension Between Privacy Tools and AML Rules (Cointelelgraph)

  • Trust Wallet Adds Apple Pay & Google Pay for Instant Crypto Purchases (Trust Wallet)

  • MegaETH to Refund All Pre-Deposit Funds After Botched Launch (The Block)

  • Malicious Chrome Extension Steals Small Cuts From Solana Trades (Cointelegraph)

Markets

  • Bitcoin Climbs Back Above $90K After Sharp Market Slump (Decrypt)

  • Fed Beige Book Shows Stable Economy Amid Cooling Labor and Consumer Demand (FRB)

  • Tether’s Gold Buying Spree Puts Its Reserves on Par With Some Central Banks (Cointelegraph)

  • Bitcoin Rebounds Above $91K as Traders Bet on December Rate Cut (The Block)

  • Inflation Keeps Driving Global Crypto Adoption Despite Cooling Rates (Cointelegraph)

  • Robinhood’s New Prediction Market Threatens Kalshi (DL News)

  • Kalshi’s Valuation Doubles as Investors Bet on a Prediction-Market Duopoly (The Block)

  • Monad Token Falls 15% as Profit-Taking and Spoofed Transfers Weigh on Price (Decrypt)

  • Koreans Pump Altcoins After Upbit’s $36M Hack Halts Arbitrage (Cointelegraph)

  • Monero Jumps as Zcash Drops in Privacy-Token Rotation (Decrypt)

  • Ukrainian War-Tracking Tool Protests Polymarket Integration (DL News)

Meme Coins

  • Solana Meme Trading Hits Lowest Share in Nearly Two Years (Blockworks)

Mining

  • Russia Uses AI to Crack Down on Illegal Bitcoin Mining (DL News)

  • Crypto Mining Stocks Rally as Bitcoin and Ethereum Rebound (Decrypt)

Politics & Regulation

  • SEC’s Revised 2025 Plan Aims to Streamline Crypto Rules and Reduce Uncertainty (Cointelegraph)

  • Australia Introduces New Consumer-Protection Law for Crypto Platforms (Decrypt)

  • US Probes Chinese AI Espionage, AI and Data Firms to Testify (Decrypt)

  • Interpol Labels Global Scam-Compound Networks a Transnational Crypto Crime Threat (Decrypt)

  • Switzerland Pushes Back Crypto Tax Data Sharing to 2027 (Cointelegraph)

  • South Korea Expands Crypto AML Rules to Sub-$680 Transfers (Cointelegraph)

  • Turkmenistan Passes Law to Legalize and Regulate Digital Assets (Reuters)

  • U.S. House Democrats Allege Trump Used Presidency to Build Multi-Billion-Dollar Crypto Empire (House)

  • UK to Enforce Strict Crypto Tax Reporting Starting January 2026 (CoinDesk)

Token Generation Events

  • Infinex Launches Sonar Token Sale Ahead of 2026 INX TGE (The Block)

Treasuries

  • Strategy Stock Falls Below Value of Its Bitcoin Holdings (DL News)

  • BitMine Purchases 14,618 ETH but Ethereum Price Remains Stagnant (Coinpedia)

Other News

  • Devconnect Draws 16,000 Ethereum Devotees as Vitalik Champions Privacy and Stability (DL News)

  • UK Budget Spurs Mixed Crypto Reactions Amid Push for Tougher Oversight (The Block)

  • Tether Exits Uruguay Over Energy Costs and Tariff Barriers (El Observador)

  • SpaceX Moves $105M in Bitcoin to New Wallets (The Block)

  • Justin Sun Details New Progress in $456M TUSD Fraud Case Following Global Asset Freeze (Coinpedia)

  • Do Kwon Asks U.S. Judge to Cap Sentence at Five Years as He Faces 40-Year Term in South Korea (Cointelegraph)

  • BNB Chain Names Nina Rong as Executive Director of Growth (Chainwire)

  • Crypto Firms Pledge HK$32M After Major Tai Po, Hong Kong Fire (Binance)

  • Crypto Holiday Gift Guide 2025 (Decrypt)

  • Animoca to Expand Into Stablecoins, AI, and DePIN for 2026 (Cointelegraph)

  • Two South Korean Police Officers Indicted in $186M Crypto-Laundering Scheme (Decrypt)

Check This Out!

According to Adam Tehc, Solana memecoin launchpad volume dropped to its lowest level last week, and now it’s down 78% year-to-date.

Source: Adam Tehc

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