Crypto Markets Update: Key Highlights for November 8, 2025

Key Takeaways:

• US stocks retreat after three weeks of gains.
• Multiple crypto treasury firms under pressure, with significant losses for Bitmine.
• JPMorgan increases its stake in BlackRock's IBIT.
• Hourglass Stable Vaults second phase deposits closed.
• Hong Kong's first financial 'influencer' jailed for unlicensed investment advice.
• Trump Media Group realizes gains from Bitcoin-related securities options.
• Coinbase hints at Launchpad platform launch.

Kazakhstan Crypto Asset Fund Targets $500M - $1B

Kazakhstan plans to establish a national cryptocurrency reserve fund ranging from $500 million to $1 billion, utilizing assets seized and recovered from overseas. The fund will focus on investing in ETFs and shares of companies involved in digital currencies, exercising caution regarding direct cryptocurrency investments.

US Stocks Retreat, Coinbase and Circle Rise

US stocks experienced a downturn at the end of the week, ending a three-week streak of gains. Conversely, Coinbase and Circle shares saw notable increases.

21Shares Files for XRP Spot ETF

21Shares has submitted Form 8(A) to the U.S. Securities and Exchange Commission (SEC) to launch an XRP ETF.

Hong Kong First Financial 'Influencer' Jailed for Unlicensed Investment Advice

A financial influencer in Hong Kong has been sentenced to jail for creating and managing a subscription-based chat group providing investment advice without a license.

Arthur Hayes: ZEC Now Second Largest Liquid Holding in Maelstrom

Arthur Hayes announced that ZEC has become the second-largest liquid holding in the Maelstrom investment portfolio, after Bitcoin.

Study: 25% of Polymarket's Trading Volume May Be Wash Trading

A study suggests that approximately 25% of the trading volume on Polymarket may be attributed to wash trading.

CZ: Surprised by Potential Pardon, No Ties to Trump Family

CZ expressed surprise at the possibility of a pardon and denied any connection to the Trump family.

Strategy Increases Fundraising Size for STRE

Strategy announced an increase in the fundraising size for its perpetual preferred shares STRE.

Lantern Ventures Reportedly Liquidating Funds

Lantern Ventures, a proprietary trading firm founded by some former members of Alameda Research, is reportedly liquidating its funds.

Dupay Announces Service Shutdown

Dupay, a cryptocurrency payment card provider, announced that it will cease operations due to compliance issues and cash flow regulation problems.

Coinbase Adds Aster to Listing Roadmap

Coinbase has added Aster (ASTER) to its asset listing roadmap.

Balancer Asks Hackers to Return Funds

Balancer has requested that hackers return stolen funds in exchange for a bounty.

Pieverse Unveils PIEVERSE Token Economics

Pieverse has unveiled the token economics of its native token, PIEVERSE.

Hourglass: Stable Vaults Second Phase Deposits Closed

Hourglass closed the second phase of Stable Vaults deposits, totaling approximately $1.8 billion in deposits.

Janction (JCT) Listing on Binance Alpha and Binance Futures

Binance Alpha and Binance Futures will list Janction (JCT).

Coinbase Hints at Launchpad Platform Launch

Coinbase has hinted at the launch of a Launchpad platform.

American Bitcoin Increases Bitcoin Holdings

American Bitcoin Corp. has increased its Bitcoin holdings.

Crypto Treasury Firms Under Pressure

Multiple crypto treasury firms are facing pressure, including Bitmine, which is experiencing significant losses.

ZEC Sees Sharp Price Increase

ZEC has experienced a sharp increase in price.

New Wallet Accumulates Large Amount of TRUMP Tokens

A new wallet has accumulated a large amount of TRUMP tokens.

'Carry-on Whale' Closes Bitcoin and ZEC Short Positions

A large trader has closed short positions on Bitcoin and ZEC.

Net Outflows from Ethereum Spot ETFs

Ethereum spot ETFs have experienced net outflows.

Net Outflows from Bitcoin Spot ETFs

Bitcoin spot ETFs have experienced significant net outflows.

Tempo Leads Funding Round for Commonware

Tempo led a funding round for crypto infrastructure company Commonware.

JPMorgan Discloses Stake in BitMine

JPMorgan disclosed a stake in BitMine.

JPMorgan Increases Holdings of BlackRock’s IBIT

JPMorgan increased its holdings of BlackRock's IBIT.

Forbes: Trump's Bitcoin Investment Poorly Timed

A Forbes report suggests that Trump's Bitcoin investment was poorly timed.

Trump Media Realizes Gains from Bitcoin-Related Securities Options

Trump Media realized gains from Bitcoin-related securities options.