Amid plummeting NFT volumes and deep staff cuts, the firm is shifting focus, and in doing so plans to launch a native token called SEA via its independent foundation in Q1 2026, with 50 % of the supply going to the community and half of initial revenue earmarked for token buy-backs to build value.
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Analysts suggest the move may be part of an internal restructuring or security update rather than a sell-off, as there’s no evidence of the coins being sent to exchanges.
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Developers can already use SDKs in TypeScript, Go, and Rust to build apps. The project’s goal is to bring programmable, full-stack financial infrastructure to Bitcoin.
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The organization cited market conditions as the main reason behind the decision, marking the end of its direct involvement with the network.
Despite the shutdown, the Kadena blockchain will remain operational, as it is a fully decentralized proof-of-work network maintained by independent miners and developers.
The team confirmed a new node binary will be released soon to ensure uninterrupted operation without company oversight.
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🇬🇧JUST IN: The UK's Financial Conduct Authority (FCA) has filed a lawsuit against cryptocurrency exchange HTX, formerly known as Huobi, accusing it of unlawfully promoting crypto services to UK consumers without the necessary authorization. HTX, which is linked to Chinese entrepreneur Justin Sun, is included on the FCA’s warning list of firms that operate in the UK without proper licensing.
The regulatory action highlights the FCA’s ongoing commitment to protecting consumers and ensuring the integrity of financial markets in the UK, particularly in the rapidly growing cryptocurrency sector.
While the FCA pursues legal measures, HTX has not yet issued a response or comment on the case. This move reflects increased scrutiny by UK authorities over overseas crypto platforms targeting domestic investors.
The regulatory action highlights the FCA’s ongoing commitment to protecting consumers and ensuring the integrity of financial markets in the UK, particularly in the rapidly growing cryptocurrency sector.
While the FCA pursues legal measures, HTX has not yet issued a response or comment on the case. This move reflects increased scrutiny by UK authorities over overseas crypto platforms targeting domestic investors.
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President Donald Trump has granted a presidential pardon to Binance founder Changpeng Zhao, who pleaded guilty in 2023 to enabling money laundering through the cryptocurrency exchange.
White House Press Secretary Karoline Leavitt said in a statement that the President “exercised his constitutional authority” in pardoning Zhao, describing his prosecution by the Biden Administration as part of its “war on cryptocurrency.”
Zhao resigned as Binance CEO as part of a $4.3 billion settlement with the U.S. Department of Justice and was sentenced in April 2024 to four months in prison, despite prosecutors seeking a three-year term.
The pardon follows Trump’s recent commutation of former Representative George Santos’s 87-month prison sentence for wire fraud and identity theft.
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🇺🇸JUST IN: Trump Nominates Michael Selig to Lead CFTC, Pledging U.S. Crypto Leadership
President Donald Trump has nominated Michael Selig, a former SEC legal advisor and digital asset policy expert, to serve as the next Chairman of the Commodity Futures Trading Commission (CFTC).
Selig, known for his crypto-friendly views, said he aims to make the United States the “capital of digital assets,” promoting innovation while ensuring market stability. His nomination signals the Trump administration’s push toward a clearer and more supportive cryptocurrency regulatory framework.
If confirmed by the Senate, Selig would guide the CFTC at a pivotal time, as the agency’s oversight of Bitcoin, Ethereum, and other digital assets expands. Analysts expect his leadership to strengthen cooperation between the CFTC and SEC and enhance confidence in the U.S. crypto market.
President Donald Trump has nominated Michael Selig, a former SEC legal advisor and digital asset policy expert, to serve as the next Chairman of the Commodity Futures Trading Commission (CFTC).
Selig, known for his crypto-friendly views, said he aims to make the United States the “capital of digital assets,” promoting innovation while ensuring market stability. His nomination signals the Trump administration’s push toward a clearer and more supportive cryptocurrency regulatory framework.
If confirmed by the Senate, Selig would guide the CFTC at a pivotal time, as the agency’s oversight of Bitcoin, Ethereum, and other digital assets expands. Analysts expect his leadership to strengthen cooperation between the CFTC and SEC and enhance confidence in the U.S. crypto market.
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🇯🇵JUST IN: Japanese Startup Launches World’s First Yen-Pegged Stablecoin
Tokyo-based fintech startup JPYC Inc. has launched JPYC, the world’s first stablecoin fully pegged to the Japanese yen. Backed by domestic savings and Japanese government bonds, JPYC aims to enable fast, low-cost payments in Japan and potentially cross-border.
Initial deployment is reported on Ethereum, Avalanche, and Polygon, though official confirmation is pending. The launch marks a major step for digital yen adoption under Japan’s regulatory framework.
Tokyo-based fintech startup JPYC Inc. has launched JPYC, the world’s first stablecoin fully pegged to the Japanese yen. Backed by domestic savings and Japanese government bonds, JPYC aims to enable fast, low-cost payments in Japan and potentially cross-border.
Initial deployment is reported on Ethereum, Avalanche, and Polygon, though official confirmation is pending. The launch marks a major step for digital yen adoption under Japan’s regulatory framework.
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This partnership will integrate Pudgy Penguins characters into the Kung Fu Panda universe, marking a high-profile crossover between the NFT world and mainstream entertainment.
The collaboration is expected to expand Pudgy Penguins’ intellectual property into mainstream media, potentially including themed NFTs, merchandise, and appearances in future content. Analysts say this aligns with Pudgy Penguins’ broader strategy to develop a Disney-style IP empire, leveraging the global popularity of Kung Fu Panda to reach wider audiences.
On-chain data shows growing investor confidence, with increased activity from whales. Technical analysis indicates PENGU is trading above its 200-day moving average, signaling strong market interest.
This partnership highlights the ongoing trend of NFT projects moving beyond digital collectibles into mainstream cultural and entertainment brands, bridging the gap between blockchain assets and popular media.
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🇺🇸JUST IN: Fed Signals Caution After Rate Cut
The U.S. Federal Reserve lowered its benchmark interest rate to a range of 3.75%–4.00%, while striking a cautious tone on the outlook for further monetary easing.
Fed Chair Jerome Powell emphasized that another rate cut in December is not guaranteed, noting that future decisions will depend on incoming economic data and inflation trends.
In its policy statement, the Fed highlighted moderate economic growth, signs of softening in the labor market, and inflation still above target levels. The central bank reiterated its commitment to restoring price stability but signaled a more measured pace of policy adjustments.
Following the announcement, the U.S. dollar strengthened, and markets began pricing in expectations that the Fed may slow the pace of rate reductions in the coming months.
The U.S. Federal Reserve lowered its benchmark interest rate to a range of 3.75%–4.00%, while striking a cautious tone on the outlook for further monetary easing.
Fed Chair Jerome Powell emphasized that another rate cut in December is not guaranteed, noting that future decisions will depend on incoming economic data and inflation trends.
In its policy statement, the Fed highlighted moderate economic growth, signs of softening in the labor market, and inflation still above target levels. The central bank reiterated its commitment to restoring price stability but signaled a more measured pace of policy adjustments.
Following the announcement, the U.S. dollar strengthened, and markets began pricing in expectations that the Fed may slow the pace of rate reductions in the coming months.
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JUST IN: French semiconductor manufacturer Sequans Communications sold around 970 BTC worth approximately $98 million from its 3,234 BTC reserves to pay off part of its debt. The sale was made to repay convertible bonds issued in July.
The company’s CEO described the move as a tactical decision aimed at increasing shareholder value and reducing debt, emphasizing that their belief in Bitcoin remains unchanged. Following the sale, the company’s debt ratio dropped from 55% to 39%, while its BTC holdings decreased to 2,264. This step stands out as one of the first examples among companies holding crypto asset reserves.
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The company’s CEO described the move as a tactical decision aimed at increasing shareholder value and reducing debt, emphasizing that their belief in Bitcoin remains unchanged. Following the sale, the company’s debt ratio dropped from 55% to 39%, while its BTC holdings decreased to 2,264. This step stands out as one of the first examples among companies holding crypto asset reserves.
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JUST IN: BlackRock has reportedly transferred around 34,777 ETH to Coinbase Prime as part of a large-scale institutional move. This transaction doesn’t necessarily signal a sell-off it’s more likely related to portfolio rebalancing or liquidity preparation for investment products. Still, such activity highlights BlackRock’s ongoing presence and growing interest in the crypto market, reinforcing that institutional participation remains strong in the digital asset space.
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JUST IN: Tether has announced a partnership with Da Nang City in Vietnam to develop blockchain-based governance solutions at the local government level.
The collaboration aims to support initiatives such as asset tokenization and payment digitalization. As part of the deal, Tether will also work with local universities to organize educational programs that enhance skills in blockchain and AI. This move highlights Tether’s strategy to expand beyond stablecoin issuance and contribute to public sector infrastructure.
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The collaboration aims to support initiatives such as asset tokenization and payment digitalization. As part of the deal, Tether will also work with local universities to organize educational programs that enhance skills in blockchain and AI. This move highlights Tether’s strategy to expand beyond stablecoin issuance and contribute to public sector infrastructure.
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JUST IN: SAPIEN (SPN) Hits All-Time High After Binance Listing!
SAPIEN (SPN) surged to a new all-time high after its Binance HODLer Airdrop and spot market listing.
Binance distributed 15 million SPN tokens to BNB holders between October 20–22, 2025, and the token officially started trading on November 6 with pairs including SPN/USDT, SPN/USDC, SPN/BNB, and SPN/TRY.
Following the launch, SPN’s price spiked over 100%, reflecting strong market interest, though analysts warn of potential short-term corrections due to high volatility. Sapien is a Web3 protocol on Base (Coinbase’s Layer-2 network) that rewards users for providing verified human data to power AI systems.
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SAPIEN (SPN) surged to a new all-time high after its Binance HODLer Airdrop and spot market listing.
Binance distributed 15 million SPN tokens to BNB holders between October 20–22, 2025, and the token officially started trading on November 6 with pairs including SPN/USDT, SPN/USDC, SPN/BNB, and SPN/TRY.
Following the launch, SPN’s price spiked over 100%, reflecting strong market interest, though analysts warn of potential short-term corrections due to high volatility. Sapien is a Web3 protocol on Base (Coinbase’s Layer-2 network) that rewards users for providing verified human data to power AI systems.
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🇺🇸JUST IN: New York in Transition: Mamdani’s Victory and the Crypto Community’s Response
Zohran Mamdani, New York City’s newly elected mayor and a democratic socialist, has sparked mixed reactions within the crypto community. Some investors express concern that his administration could introduce tighter regulations on digital assets — including potential taxes on crypto mining and measures to protect small investors from volatility.
However, many industry observers believe the impact will be limited, noting that city-level authority over financial regulation is relatively constrained. As one analyst put it, “New York will be fine.” The city remains a global financial hub and a key location for blockchain and fintech innovation.
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Zohran Mamdani, New York City’s newly elected mayor and a democratic socialist, has sparked mixed reactions within the crypto community. Some investors express concern that his administration could introduce tighter regulations on digital assets — including potential taxes on crypto mining and measures to protect small investors from volatility.
However, many industry observers believe the impact will be limited, noting that city-level authority over financial regulation is relatively constrained. As one analyst put it, “New York will be fine.” The city remains a global financial hub and a key location for blockchain and fintech innovation.
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