Market Digest

CW1 Bit.com is winding down its derivatives exchange and asking users to withdraw or migrate to Matrixport. Bitwise has filed for 11 crypto strategy ETFs. On Polymarket, several well-timed Venezuela bets have raised concerns about potential insider trading.

CW52 Lighter nears its token launch amid airdrop speculation and pre-market perps. Aave’s community is debating whether the DAO or Aave Labs should control the protocol’s brand, highlighting governance tensions. Meanwhile, Circle denied a fake site claiming tokenized metals.

CW51 Bitfinex removed maker and taker fees across major products to boost market share. A new stablecoin, $U, launched within the Binance ecosystem on BSC and Ethereum. Meanwhile, the SEC concluded its long-running investigation into Aave without enforcement action.

CW50 Binance launched XAUUSDT gold perpetuals and added TradFi-perps support in its API, signaling broader asset expansion. The exchange also received full authorization from ADGM. Separately, Terraform Labs co-founder Do Kwon was sentenced to 15 years over the Terra collapse.

CW49 Strategy created a $1.44B USD reserve to support dividend and interest payments alongside its Bitcoin holdings. Token launches increasingly adopt on-chain auctions. Meanwhile, Chinese financial associations reiterated that crypto-related business activities are illegal in mainland China.

CW48 S&P downgraded Tether’s USDT to its weakest rating due to exposure to riskier assets and limited reserve transparency. Hyperliquid’s first $300M HYPE unlock is set for Nov 29. Meanwhile, Binance and Perpdex introduced equity trading, enabling tokenized access to major U.S. stocks.

CW47 Bitwise’s André Dragosch identified Bitcoin’s potential bottom between $73K and $84K, based on cost basis levels of major holders. Aave launched a retail yield app offering up to 6.5% returns with balance protection. Meanwhile, a $1B Ethereum DAT project has been suspended amid market weakness.