Elon Musk announced that Grok5, developed by his company xAI, will challenge the strongest team in League of Legends (LOL) in 2026. To ensure fairness, Musk has set two major restrictions: the AI can only read the screen through a camera, with vision limited to the human 20/20 standard; reaction speed and hand speed are locked at normal human levels. Lee Sang-hyeok (Faker), who recently won the T1 LOL 2025 World Championship, has accepted the challenge.

The cryptocurrency market is witnessing a strong rebound, with Bitcoin breaking through the $90,000 mark, reaching a high of $90,460, narrowing the decline from the historical peak at the beginning of October to 28%; Ethereum is also rising, with its price returning above $3,000, reaching a high of $3,030. The recovery of these two leader assets is attributed to multiple factors: a broad rally in risk assets, increased expectations of Fed rate cuts, and the favorable technical outlook ahead of the Ethereum Fusaka upgrade. The sentiment in the derivatives market has significantly shifted, with a surge in demand for Bitcoin call options and continuous inflows into Ethereum spot ETFs for four days, reflecting the return of institutional funds and the restoration of market confidence. Although liquidity is thin during the Thanksgiving holiday, analysts believe this round of rise may mark the end of the prolonged dumping tide lasting several weeks.

Ethereum co-founder Vitalik Buterin publicly stated that he donated approximately $760,000 worth of Ether to two emerging encrypted communication applications that are pushing the boundaries of digital privacy, namely Session and SimpleX Chat. He mentioned that encrypted messaging applications like Signal are crucial for protecting digital privacy, and the next step in this field should be permissionless account creation and metadata privacy.

Australia strengthens regulation of Crypto Assets exchanges and custodial service providers, legislating a commitment to impose stricter oversight and severe penalties for misconduct in asset protection. Treasurer Jim Chalmers and Financial Services Minister Daniel Mulino introduced the "2025 Corporations Amendment (Digital Assets Framework) Bill," requiring Australian Crypto Assets companies to hold an Australian Financial Services License (AFSL) and comply with the regulations of the Australian Securities and Investments Commission (ASIC).

The Grayscale Spot DOGE ETF was officially listed on the New York Stock Exchange Arca zone, with a first-day volume of only about $1.4 million, far below analysts' previous strong performance predictions. This ETF has set a management fee of 0.35%, but has achieved a zero-fee rate through a temporary exemption, a strategy aimed at attracting initial capital inflows, which has not been able to reverse the market's lukewarm response. Compared to the recently launched XRP and Solana ETFs, the DOGE ETF's debut appears relatively lackluster, reflecting the unique challenges of meme assets in institutional products, as well as the impact of intensified market competition on capital diversion.

The stablecoin giant Tether has halted its large-scale crypto mining operations in Uruguay, valued at 500 million USD, citing high energy costs and a lack of a tariff framework. The company has laid off 30 employees in Uruguay, down from a total of 38. The immediate trigger for Tether's cessation of operations stemmed from an overdue electricity bill totaling nearly 5 million USD, leading the national power supplier UTE to cut off power in late July.

The official core team of Pi Network announced a strategic cooperation and investment agreement with the game development platform CiDi Games, aimed at developing lightweight games integrated with Pi Token for tens of millions of Pioneer users. This investment utilizes the $100 million ecological fund from Pi Network Ventures, positioning games as a core pillar of the ecosystem, enhancing the practical value of the Token by increasing user daily engagement. This cooperation marks a key step for Pi Network's transition from mobile Mining to a comprehensive ecological platform, and brings a new development paradigm to the encryption gaming track.

Switzerland will delay the automatic exchange of Crypto Assets account information with foreign tax authorities until at least 2027. The Federal Council has also approved Switzerland's participation in the amendments to international tax information exchange regulations, which are updates to existing laws, with both amendments set to take effect in early 2026. Switzerland plans to exchange Crypto Assets tax data with 74 jurisdictions, but the United States, China, and Saudi Arabia are not included.

The Nevada-based blockchain infrastructure company Alt5 Sigma experienced a sudden executive shakeup after being involved in a crypto assets project associated with Trump, announcing the firing of acting CEO Jonathan Hugh and COO Ron Pitters. This personnel upheaval comes shortly after the company's $1.5 billion WLFI token acquisition agreement signed in August, which stipulates that Trump-related entities could receive 75% of the token sale proceeds, with potential earnings exceeding $500 million. The company is also facing legal challenges from a money laundering case in Rwanda, where its subsidiary and major shareholder Andre Beauchesne have been found guilty by local courts, raising alarms about the compliance risks of crypto projects associated with political figures.

The Federal Council of Switzerland recently officially approved the amendment to the tax information exchange regulations, incorporating Crypto Assets into the global reporting standard framework. However, the automatic data sharing plan originally scheduled for implementation in 2026 will be postponed to the earliest start in 2027. The new regulations require Crypto Assets service providers to fulfill sign up, reporting, and due diligence obligations, which are currently suspended due to an undecided partner list. This delay reflects the challenges faced by major global economies in coordinating tax transparency for Crypto Assets, and it provides the industry with a longer compliance adaptation period, which may affect international investors' expectations regarding Crypto Assets tax compliance.

Hive Digital Technologies has launched a new market-priced stock sale plan this week, which will allow the company to sell up to $300 million in stock over the next period, thereby increasing financial flexibility after announcing record quarterly results last week. Despite the company's aggressive expansion, Hive's stock price has fallen to around $3.10, a decline of more than 53% from its peak in October.

Ripple's USD stablecoin RLUSD has received regulatory approval from the Abu Dhabi Global Market (ADGM), marking a key step in its Compliance strategy in the Middle East. This recognition not only provides a legitimate channel for RLUSD in institutional applications and cross-border payment scenarios but also opens up new strategic pathways for Ripple in the global stablecoin competition. The article delves into the ecological expansion of RLUSD, its reserve model, market potential, and the impact on XRP prices and the layout of the global Payment Network.

NVIDIA is facing unprecedented scrutiny. As the world's leading AI infrastructure provider, the company's performance not only reflects its own situation but is also seen as a barometer for the health of the entire AI industry. CEO Jen-Hsun Huang has rarely admitted in an internal meeting that the company is facing a "no-win dilemma": outstanding performance would be accused of fueling the AI bubble, while poor performance would be seen as evidence of the bubble bursting.

The German payment giant Wirecard AG collapsed in June 2020, revealing about 1.9 billion euros (approximately 2.19 billion dollars) in fraudulent Asian trust accounts, and investigations now identify billionaire Calvin Ayre as a key figure in this fraud case. Funds flowed into Ayre's gambling business through multiple international shell companies, while Ayre is a major backer of Bitcoin SV (BSV). This incident highlights the regulatory risks at the intersection of crypto assets and TradFi. Despite the exposure of the incident, BSV's price remained stable, trading at 20.91 dollars at the time of writing, with a slight pump of 1.37% over the past 24 hours. The market's reaction to the associated risks has been limited, but industry experts warn that such fraud could affect investors' trust in emerging assets.

The stablecoin giant Tether has officially ceased its $500 million Bitcoin mining operation in Uruguay, primarily due to high energy costs and the lack of a predictable tariff framework. The project actually only invested $100 million and was forced to shut down due to a $5 million electricity bill default, resulting in the layoff of 30 employees. This incident highlights the extreme sensitivity of crypto mining to energy prices and may affect Tether's strategic goal of controlling 1% of the global Bitcoin network. Industry analysts point out that the focus of mining is quickly shifting to low-cost regions like Paraguay and El Salvador.

The 2008 Nobel Prize in Economics winner Paul Krugman pointed out that Bitcoin has evolved into a "Trump trade," with its fate deeply tied to Trump's political influence. He stated that Bitcoin has fallen approximately 25% since late October, which is a direct reflection of the decline in Trump's political power in the financial markets.

Bloomberg reported on November 26 that China's real estate market is bracing for a potentially more severe crisis involving China Vanke Co., Ltd. Once the largest developer in China, Vanke has now become a bellwether for measuring the country's difficult efforts to rein in the real estate predicament. This week, the trading price of its dollar bonds maturing in 2027 fell to a "distressed price" of below 44 cents, the lowest level since January of this year.

The Central Bank of Russia (CBR) recently announced a draft regulation allowing mutual funds to allocate up to 10% of their investment portfolios to Crypto Assets-related derivation, opening new channels for accredited investors to invest in digital assets. This move marks a shift in Russia's cryptocurrency regulation from comprehensive crackdown to selective opening, aiming to build a controlled financial framework while maintaining a strict ban on everyday payments. Industry analysis indicates that Russia is incorporating Crypto Assets into its geopolitical strategy to respond to the international sanctions environment, but ordinary citizens are still excluded.

The price of Ethereum recently fell below the key psychological support of 3000 USD, triggering holders to accumulate nearly 4 billion USD in assets on a large scale. Meanwhile, the technical charts have shown a death cross signal for the first time in nine months, indicating a weakening short-term momentum. Analysts point out that ETH needs to quickly reclaim the 3000 USD level to dismantle the bearish structure; otherwise, it may enter a further consolidation phase. Market participants are closely monitoring on-chain data and changes in the macro environment to assess the sustainability of this buy the dip behavior.

XION will be listed on WEEX on November 26, 2025. This is an L1 Blockchain specifically designed to address the barriers to mass adoption of Web3. XION is built on Cosmos and integrates complex functionalities into the protocol through a universal abstraction layer, eliminating thresholds such as Gas fees. Credit cards can be used to purchase on-chain goods directly without the need to download a Wallet or hold native Tokens, covering approximately 6 billion credit card holders worldwide.