Crypto volatility isn’t new, but the effects remain jarring. That didn’t stop the industry, as projects continued to churn out solutions.
The headlines:
- According to the OCC, banks can hold crypto tokens for gas fees;
- The Ethereum Foundation pushed boundaries with a new interoperability project;
- Aave Labs unveiled a savings App;
- Blockchain.com opened its Dallas, Texas, office with a new co-CEO;
- Plus, Kraken filed for an IPO (more on that later);
- And much more!
As always, these are your Decentralized Diaries!
Bitcoin is at $85k (as of 11/24/25)
Crypto rainy days continued as Bitcoin hit an $83,323.07 low price then an $88,034.21 high, before settling at $85,971.14.
The altcoins are also down.
Ethereum (ETH) is at $2,804.06, Solana (SOL) is at $129.48, Hyperliquid (HYPE) is at $30.54, Chainlink (LINK) is at $12.46, Avalanche (AVAX) is at $13.32, and Polkadot (DOT) is at $2.25.
Banks Can Hold Tokens to Pay Gas Fees-OCC
According to a letter released by the OCC on November 18, banks can hold certain digital assets to pay gas fees. The regulator referred to Ethereum as an example in the document.
Additionally, the OCC stated that holding a separate wallet can make the gas fee payment process cumbersome.
Ethereum Foundation Announces Interoperability Layer
Things (might) change soon in the DeFi sector, with the Ethereum Foundation unveiling its “Interop Layer.” The new initiative aims to make Ethereum’s Layer 2 ecosystem feel like a single, unified chain.
Furthermore, the Interop Layer is built on the ERC‑4337 account abstraction layer, which was announced during the Devconnect conference in Argentina.
Aave Labs Announces a Neobank App
Boutique DeFi platform Aave Labs introduced a high-yield savings application that combines strong returns with (insurance‑backed) protection for deposits of up to $1 million. The Aave App will enable deposit and withdrawal support for over 12,000 FIs and multiple stablecoins.
Aave plans to offer users a minimum rate of 5% and increase it to 9% with (KYC) updates and referrals.
Polygon Collaborates with Mastercard to Enable Self-Custody Wallets
Mastercard partnered with Polygon Labs to expand the reach of self‑custody wallets. The configuration enhances digital asset management while simultaneously ensuring token security and ease of access.
Additionally, the deployment focuses on integrating Mastercard’s trusted payment infrastructure with Polygon’s blockchain, enabling users to hold and control their own assets without relying on intermediaries.
Blockchain.com Opens Texas Office, Names Co-CEO
Boutique crypto exchange Blockchain.com made its American debut by opening its new headquarters in Dallas, Texas. The move also coincided with the appointment of long-serving executive Lane Kasselman as co-CEO.
Additionally, Blockchain.com Chairman and CEO Peter Smith will continue in his role across the pond in the United Kingdom.
Coinbase Enables Ether-Backed Loans
Premier crypto exchange Coinbase unveiled Ethereum-backed loans. Eligible US-based customers can access the offering.
Additionally, users can borrow up to $1 million in USDC stablecoins without selling their ETH digital assets.
New Hampshire Reveals $100 Million Bitcoin Municipal Bond
The Granite State continued pushing the boundaries of crypto with a Bitcoin-collateralized municipal bond. On November 19, the New Hampshire Business Finance Authority (BFA) unveiled a municipal bond that enables firms to borrow against their Bitcoin holdings.
Furthermore, holders of the $100M municipal conduit bond must post (about) 160% of the bond’s value as collateral. The instrument’s liquidation level will occur only when coverage drops to 130%.
Kraken Files for a Confidential IPO
Boutique crypto exchange Kraken took a critical step towards its public listing. On November 19, the exchange revealed a confidential Form S‑1 filing with the SEC.
Moreover, the filing is subject to a regulatory review.
Bitcoin’s Public Codebase Audit Shows No Security Issues
The recent first-ever third-party Bitcoin core security audit indicated that everything is fine, for now. Cybersecurity firm Quarkslab conducted the four-month operation.
The process resulted in (several) new tools, including a node client and an embedded wallet.
Americans Could Soon Pay Their Federal Taxes in Bitcoin
New legislation by Rep. Warren Davidson (R-Ohio) could allow Federal tax payments in Bitcoin. The proposed Bitcoin for America Act aims to give Americans expanded tax-paying options.
According to the proposed legislation, the national Bitcoin reserves will receive taxed Bitcoin tokens.
Circle’s Hashnote Unveils USYC Money Market Fund Support on BNB Chain
Stablecoin issuer Circle’s institutional arm, Hashnote, launched its USYC tokenized money market fund on BNB Chain. The move brings more than $1.07 billion in yield‑bearing assets into the network’s DeFi ecosystem.
Consequently, eligible non-US investors can either subscribe or redeem their USYC shares instantly.
SEC’s Enforcement Actions Dipped 30%-Cornerstone Research
Enforcement actions under SEC Paul Atkins dropped (slightly), a new report from financial analysis firm Cornerstone Research suggests.
According to the document published on November 19, actions taken against public companies reduced by 30% Year-on-Year. The document highlights the encouraging role financial regulators now play in encouraging innovation.
Anchorage Digital Taps Figure to Enable HYPE Token Staking Support
Boutique crypto bank Anchorage announced the availability of staking for the Hyperliquid (HYPE) token, in partnership with blockchain infrastructure provider Figure. The deployment expands Anchorage’s HYPE token custody services.
Additionally, a November 21 announcement revealed that the staking services will be available via Anchorage’s Porto self-custody wallet.
Canada’s Budget Includes Stablecoin Policy Support
Across the border in Maple Country, Canadian Prime Minister Mark Carney’s first budget passed. The budget document includes a section dedicated to stablecoins.
According to the document, the Bank of Canada will oversee the issuance of stablecoin tokens.
Feds Probe Crypto Miner Bitmain
Chinese Bitcoin mining hardware giant Bitmain is under investigation by US authorities over potential national security risks, Bloomberg reported on November 21. The probe centers on Bitmain’s role as a leading producer of ASIC chips used in Bitcoin mining.
Additionally, regulators are (reportedly) concerned about the company’s influence over critical infrastructure in the digital asset economy.
Former FTX Prosecutor Rejects Immunity Deal Claims for Executive’s Partner
One of the ex-prosecutors of the CEO of bankrupt crypto exchange FTX denied claims that there was a deal not to charge executive Ryan Salame’s partner, Michelle Bond. At a November 20 hearing in the US District Court for the Southern District of New York, Danielle Sassoon denied any expectation of immunity.
Reporting by the Inner City Press revealed that Sassoon stated that she was not in the business of manipulating people into pleading guilty.
Crypto ETFs Continue to Soar
Digital asset ETFs continued to hold sway, with updates. The Fidelity Solana Fund began trading on the NYSE Arca, while Canary Capital launched the Canary Marinade Solana ETF on Nasdaq.
On November 19, in Delaware, BlackRock registered the iShares Staked Ethereum Trust ETF.
