Cryptoccino — Thursday 12 November 2026

Nvidia perps crash as board reportedly moves to oust Jensen Huang. Perpetual futures on NVDA fell between 7% and 10% across venues including Hyperliquid after the Wall Street Journal reported Nvidia’s board hired Wachtell Lipton to investigate the CEO’s ties to an alleged Chinese spy and is weighing a leadership change. Analyst Dan Weiss pegs Nvidia’s fair value at roughly $300 per share with Huang and $225 without him, a gap that clarifies the market’s specific CEO premium. House Republicans have separately called for Huang to testify, and Nvidia shed an estimated $430 billion in market cap over two sessions. theblock decrypt coindesk cryptobriefing

Strategy and Metaplanet removed from MSCI global equity benchmarks. MSCI’s November rebalance dropped both Bitcoin treasury vehicles from its indices, a move that could mechanically force passive fund managers to sell. Strategy had publicly argued the exclusion would undermine MSCI’s neutrality, but the index provider proceeded regardless. The removal adds another supply-side overhang to an already thin bid. theblock bloomberg_crypto

Bitcoin faces the statistical prospect of back-to-back annual losses. If current prices hold, 2026 would mark the first time in the asset’s 18-year history that BTC has posted consecutive calendar-year declines. Options traders are adjusting positioning accordingly, with put skew elevated into year-end. The nuance, as several analysts note, is that the annual framing depends heavily on where exactly the year opened. decrypt theblock

Bitmine posts a $6.3 billion annual net loss as ether tumbles 44%. The bitcoin treasury company’s headline loss reflects the scale of ETH’s drawdown over the period, underscoring how leveraged treasury strategies amplify sector-wide moves in both directions. The figure will likely feature in the ongoing debate about whether altcoin treasury vehicles carry a different risk profile to their BTC equivalents. theblock

OKXICE sets 23 November launch for tokenised securities venue under SEC innovation exemption. The joint venture will open with more than 70 assets, led primarily by crypto-native names including Coinbase, Circle, Robinhood and Strategy, after 67 companies formally objected to having their shares listed. The backlash from traditional equities issuers has effectively made this a crypto-company showcase at launch, narrowing the addressable market considerably. See also the Bloomberg overview of the broader industry push on tokenised stock trading. theblock decrypt coindesk bloomberg_crypto

Deutsche Bank’s digital asset custody service goes live after five years of build. The service now holds Bitcoin, Ethereum and three stablecoins for institutional and corporate clients in Europe, and was accompanied by an asset management partnership covering tokenised funds and crypto ETCs. Five years from announcement to launch is a long runway, and Deutsche’s entry into custody puts another major bank’s balance sheet behind the infrastructure layer. The timing, into a fear-driven market, is notable. theblock decrypt

Kraken’s xStocks platform crosses $1.1 billion in assets after adding 200 UK and EU shares. The expansion takes the tokenised equities product past 1,500 assets in total, though the newly added UK-listed tokens remain unavailable to investors based in the UK itself, a regulatory quirk that limits practical utility for the most obvious audience. The platform’s AUM growth is real but the access patchwork remains a friction point. coindesk decrypt

Nomura’s Laser Digital structures a $100 million tokenised Saudi SME credit vault on BNB Chain. The vehicle, advised by Laser Digital for ZIG Finance, targets private credit exposure to Saudi small and mid-sized enterprises and is structured on BNB Chain rather than a permissioned ledger. It is an early signal of Gulf-focused real-world asset deals routing through public chains rather than bespoke infrastructure. Minimum ticket sizes and accreditation requirements were not disclosed. theblock

Bitcoin Core discloses three patched vulnerabilities, one rated high-severity. The most serious bug could prevent a miner from constructing valid block templates, effectively stalling mining operations, though it did not risk coin theft. A second flaw allowed nodes operating over Tor to be deceived into trusting connections from arbitrary peers, potentially compromising network topology assumptions. All three have been patched in current releases. theblock coindesk decrypt

Across Protocol recovers its domain after a social engineering attack on Namecheap. Attackers used social engineering to take control of the crosschain bridge’s official domain via its registrar, a vector that bypasses smart contract security entirely. Systems have been restored, though the incident is a reminder that DNS and registrar hygiene sit outside most protocol security audits. theblock

Qilin ransomware administrator identified as a 36-year-old in St. Petersburg. KrebsOnSecurity’s investigation traces the operator of the world’s most active ransomware affiliate programme to a specific individual through a decade of operational security slip-ups. Qilin claimed at least 365 victim organisations in the past three months. The group is not crypto-specific but ransomware payments flow primarily through crypto rails. krebsonsecurity

SEC enters the jurisdictional fight over perpetual derivatives on individual stocks. The commission is challenging whether the CFTC should have approved perps on single-name equities, a product that has grown rapidly on crypto-native venues. The turf dispute has direct implications for platforms like Hyperliquid and Coinbase’s international perps books, which have been adding equity underlyings. The outcome will determine which regulator writes the rulebook for one of the fastest-growing product categories in the space. theblock

Senators Warren and Merkley raise ethics concerns over a White House aide’s prediction market trades. The senators are demanding White House answers after its teleprompter operator was accused of using advance knowledge of administration announcements to place winning bets on prediction markets. The case creates a live test of whether insider-information rules extend to decentralised prediction venues, a question regulators have so far declined to answer clearly. theblock

SEC enforcement filings fell 24% in fiscal 2026, with crypto cases among the remaining actions. The commission filed 348 total enforcement actions, down from 456 the prior year, as the administration’s lighter-touch posture filters through to case volume. Crypto-related matters that did proceed included an alleged Bitcoin mining fraud and an FTX auditor settlement. The decline in filings does not necessarily signal reduced scrutiny, only reduced litigation appetite. cointelegraph_regulation

ECB warns digital euro could slip past its 2029 target if EU legislators keep stalling. Executive Board member Piero Cipollone told EU lawmakers that the technical build timeline is tight and cannot absorb extended legislative delays. The digital euro has already been deprioritised in several member-state agendas as CBDC scepticism grows. Any slip in the rollout date would leave the ECB further behind the Fed and People’s Bank on retail CBDC deployment. cointelegraph_regulation

What else is grinding?

• Suiet, a self-custodial wallet on Sui, is shutting down on 14 November as the ecosystem’s DeFi TVL has dropped more than 22% over the past month. cointelegraph_defi cryptobriefing
• Ripple’s bank-lending product has moved another step closer to deployment on the XRP Ledger, though no launch date has been confirmed. coindesk
• Apex Group, overseeing $3.5 trillion in assets under administration, has joined the Hedera Governing Council to explore tokenisation and settlement use cases. theblock
• DogeOS says a DeFi and app layer for Dogecoin is very close to launch, adding games, financial services and native token utility to the network. theblock
• FSB told Turkey to tighten crypto oversight and establish stablecoin-specific rules, citing gaps in enforcement and cross-border regulatory cooperation. cointelegraph_regulation
• A UK fraudster who orchestrated a £2 million crypto theft scheme from his prison cell has been sentenced to eight years. theblock decrypt

Last sip. Four consecutive days of ETF outflows, $14 billion in stablecoin supply gone, and the market’s most important chip company in leadership freefall — the floor, if there is one, has not shown itself yet.