Days after rebranding from the MegaETH Foundation, the organization behind the Ethereum L2 is restructuring around first-party products, co-founder Shuyao Kong confirmed on X.

The cuts mainly hit early chain development, wallet development and ecosystem support. The core founders and engineering team stay, and $30M from the existing treasury is set aside for new products, starting with a public AI inference marketplace planned for December 2026.

MegaETH TVL has fallen from a peak above $245M in May 2026 to roughly $12M.

The MEGA token listed on April 30, 2026. The pivot gives the network a product the team controls directly, but a smaller team and reduced ecosystem support may make it harder to attract outside builders.

The jurisdiction fight over event contracts has turned personal. Speaking at the Cantor Convergence conference, CFTC Chair Michael Selig called state suits against prediction market platforms "really egregious", saying states are bringing criminal charges to "lock up founders and CEOs" of companies offering lawful products under a federal regime.

The CFTC is fighting roughly a dozen states and cities over whether contracts on Kalshi, Polymarket and similar platforms are illegal gambling. On Thursday, the Justice Department and the CFTC sued Arkansas Attorney General Tim Griffin to block his action against Kalshi, while Louisiana filed a lawsuit targeting Kalshi, Polymarket, Robinhood and Coinbase.

Selig wants the dispute taken to the Supreme Court instead of being fought state by state, to settle the CFTC's claim of exclusive jurisdiction over prediction markets.

Until a ruling arrives, platforms and their executives remain exposed to parallel state enforcement, including criminal cases such as the Utah charges against Kalshi and its co-founders.

Japan's largest Bitcoin treasury company used its third-quarter results to reset expectations: the board lowered the full-year revenue target from ¥16 billion (about $100M) to ¥6.5 billion (about $41M), and operating profit guidance from ¥11.4 billion to ¥3 billion.

For January to September, Metaplanet booked a net loss of ¥27.2 billion (about $170M), against a ¥13.5 billion profit a year earlier. Revenue still rose 30.5% and operating profit 26.5%, but a ¥8 billion Bitcoin valuation loss and a ¥19.2 billion loss on Bitcoin sold in Q3 pushed the bottom line into the red.

The company sold 10,000 BTC in Q3, then bought back more, ending September with 44,000 BTC.

Metaplanet tied the cut to its mNAV staying below 1.0x, which blocked share issuance at the planned scale and slowed BTC buying. Proceeds from ¥52 billion in October convertible bonds will go to share buybacks first, while the company says its Bitcoin strategy is unchanged.

Ethena's consumer app, which already pays up to 6% APY on dollar balances and offers a Visa virtual card, now lets users send money to anyone by username instead of a wallet address.

Transfers between Ethena Pay users are free and instant, with no borders or limits. The app is live on iOS, and the card can be added to Apple Pay, with Google Pay listed as coming soon.

Ethena says its infrastructure has paid out $750M+ in rewards to holders and processed $30B+ in mints and redemptions with zero loss of user funds.

Username payments put the app closer to fintech peers like Revolut and Wise, which Ethena benchmarks its yield against. Balances still depend on Ethena's synthetic dollar model, so returns are variable rather than guaranteed.

The Tether-backed bitcoin treasury company disclosed its third-quarter results in an SEC filing, with net income of $1.087 billion coming almost entirely from $1.093 billion in fair-value gains on its bitcoin.

Twenty One Capital held 43,514 BTC as of Sept. 30, plus $102.8 million in cash. About 16,116 BTC collateralize $486.5 million in convertible notes.

Operations remain small: the quarter showed a $4.8 million operating loss, and the nine-month result is still a $186.5 million net loss after bitcoin's decline. CEO Rapha Zagury said the firm is evaluating bitcoin mining, lending, treasury and energy businesses, and would consider buybacks if shares trade below the value of its assets.

The company launched in April last year with backing from Tether, Bitfinex and SoftBank. Tether bought out SoftBank's stake in May, and XXI shares fell 19.5% over the past month versus a 16.1% drop in bitcoin.

Two addresses dating to 2010, each holding 50 BTC from the original block reward era, woke up within minutes of each other on November 13 after 16.2 years of inactivity.

The two sends landed just over two minutes apart, and a later transaction combined coins from both transfers into a single address. Whale Alert valued each 50 BTC holding at about $3.44M at the moment of activation.

When the coins were mined, the full 100 BTC was worth roughly $6. Today it is worth about $6.9M.

The owner has not been identified. The move follows a month of other early-era coins returning to activity, including larger reactivations in October.

Orochi Network, a zero-knowledge data infrastructure project that positions itself as a verifiable data layer for RWA, now has a derivatives market on a major exchange. Bybit opened the OROCHIUSDT perpetual contract in its Innovation Zone on November 13.

The USDT-margined contract supports up to 50x leverage, settles funding every 4 hours with a 0.5% cap and trades 24/7. Bybit added the MEET48 (IDOLUSDT) perpetual in the same batch, with up to 20x leverage.

Orochi Network's ON token has a market cap of about $12.6M against a fully diluted valuation near $61M, with roughly 21% of its 700M supply in circulation.

Innovation Zone contracts carry higher trading fees than Bybit's standard perpetuals, and the exchange can change leverage and margin parameters after launch. The listing is derivatives only: Bybit has no OROCHI spot pair.

Payward, the company behind the Kraken exchange, laid out its third-quarter numbers in a shareholder letter, showing a sharp drop in profitability from a year ago as trading activity cooled.

Adjusted EBITDA fell 67% year over year to $60M, while total platform margin, the metric that now replaces adjusted revenue, slipped 12% to $487M.

Trading volume declined 30% to $353B. Against the prior quarter the picture improved: platform margin rose 12% and adjusted EBITDA jumped 163%.

The user base kept growing despite weaker volumes, with funded accounts (those holding a balance above zero) up 37% year over year to 7.1 million.

Community members began reporting that attackers were unstaking their OM without consent after first draining liquid balances. MANTRA suspended all new unbonding transactions for seven days while it contains an exploit tied to Web3Auth and Keplr wallets that exposed users' private keys.

Several wallets linked to the attackers have already been frozen through Governance Proposal 41. MANTRA is working with Web3Auth and Keplr on recovery.

The pause does not cover unbonding requests already in progress: users inside the 8-day unbonding window must redelegate before it ends, or attackers can claim and move the tokens.

MANTRA plans to reassess the freeze after seven days and may extend it or add further pauses depending on how the situation develops.

The Indian exchange first froze its custody accounts on November 6, yet outgoing transactions later appeared from one of its ETH addresses at BitGo. A 13 November update to its incident report says the transfers were signed and broadcast on-chain directly, without BitGo's platform or involvement.

BitGo's investigation found that the November 6 freeze worked as intended. Unocoin believes the backup mechanism of BitGo multisig wallets, which lets a client recover funds if BitGo itself goes offline, was exploited instead. The exchange has not disclosed the amount lost or a root cause.

More than 90% of customer crypto is held in cold storage, the exchange says.

Unocoin suspended all services on November 9 after further unauthorized activity and is rebuilding its server infrastructure from scratch, a process it expects to take 4 to 5 working days. The breach shows how a compromised client environment can bypass a custodian's account freeze.