Crypto Weekly Market Wrap November 24th: Global Crackdowns, ETF Moves, and Market Outflows

The crypto market last week faced turbulence as Bitcoin fell sharply amid rising global uncertainty. Brazil battled a WhatsApp scam targeting digital wallets and bank accounts. Cardano endured a short chain split from a faulty transaction. Meanwhile, Mt. Gox transferred nearly $1 billion in Bitcoin, sparking speculation about creditor repayments. In this article, we will discuss this crypto weekly market wrap of November 24 in deeper details. 

Lawmakers Demand Action on World Liberty Financial

Senators Elizabeth Warren and Jack Reed urged that the DOJ and Treasury probe World Liberty Financial. Their letter was concerned with token sales that were allegedly associated with the adversaries, such as North Korea, Russia, and Iran. This was after a CNBC report that quoted accusations by Accountable.US.

The company, which is associated with Donald Trump, denied the allegations but now faces increased scrutiny. Concerns of money laundering and security risks have added to the political intensity. There have also been questions on compliance practices in politically related crypto ventures.

SEC to Host Crypto Privacy Roundtable in December

The SEC announced a roundtable regarding blockchain monitoring and privacy issues. The December 15 event will involve the participation of regulators as well as industry experts. It seeks to study the compatibility of privacy technology with legal control over illegal funds.

The roundtable will explore challenges like balancing privacy with regulatory needs.

Participants include SEC officials and cryptocurrency executives, ensuring a comprehensive discussion.#CryptoNews #bitcoin pic.twitter.com/FX9gG1Lgi4

— Web3 Academy (@MoonRepublic_io) November 22, 2025

The move follows increased emphasis by the agency on monitoring digital assets. Participants will dwell upon compliance obligations of exchanges, DeFi systems, and stablecoin issuers. The webcast of the session will assist in future policing direction and policy offerings.

Brazil Battles WhatsApp Malware Targeting Financial Apps

Brazilian users encountered an escalating malware attack on WhatsApp known as Eternidade. Researchers identified it as a Trojan that propagates by exploiting accounts and collecting sensitive financial information. The malware silently installs itself once a user clicks on malicious links dispatched by the hijacked contacts.

Eternidade also has a distinct way of accepting commands through logging in to Gmail. This enables attackers to modify instructions without the traditional servers. Gradually, it has become widespread among hackers attacking local banks and crypto consumers.

Cardano Experiences Temporary Blockchain Split

Cardano’s blockchain briefly split because of a bad delegation transaction. The problem touched upon nodes with software of older versions. The newer versions then accepted the transaction, unlike the older ones, forming two chains.

Cardano’s Intersect group confirmed that the bug was caused by a flaw in validation. The user responsible left a note of apology saying that he meant no harm. Co-founder Charles Hoskinson said it was caused by a bullish staking pool operator boycotting the network.

Mt. Gox Transfers $936 Million in Bitcoin

Mt. Gox, a defunct exchange, moved nearly $1 billion in Bitcoin after eight months of silence. The action fueled assumptions about possible payment of creditors. Approximately 10,422 BTC was transferred to an unknown wallet, and 185.5 BTC was sent back to the Mt. Gox wallet.

吴说获悉，据 Arkham 数据，Mt.Gox 冷钱包地址于 12 分钟前向以 “1ANkDML ”开头的地址转出 10422.6 枚 BTC，价值约 9.36 亿美元，目前资金未发生进一步移动。https://t.co/cQNjcPxLHb pic.twitter.com/Tgo736GFxJ

— 吴说区块链 (@wublockchain12) November 18, 2025

The transaction took place in a rehabilitation process that was initially scheduled to terminate in 2023. Delays, however, led to the extension of the repayment deadline to October 2026. Arkham Intelligence uncovered that the platform still retains 34,689 BTC, which is worth more than $3 billion.

India Plans Rupee-Backed ARC Launch by 2026

In early 2026, India announced engagement in launching ARC, which is a digital asset pegged to the rupee. ARC was designed by Polygon and Anq to complement the central bank digital currency of the country. The CBDC will process settlements, whereas ARC will process programmable transfers under the two-tier model.

ARC can only be minted by corporate accounts, and swaps must be authorized. The design will prevent USD-backed stablecoin dependence and increase local financial outlets. Uniswap v4 hooks will be utilized as the means of secure interaction in token activity.

BlackRock Registers Staked ETH ETF in Delaware

On November 19, BlackRock submitted a filing for the iShares Staked Ethereum Trust. The move marks a milestone towards the launch of a staked ETH ETF. This comes after VanEck had previously registered under Lido stETH.

Staking features in ETFs are not yet approved by the SEC. In the past, issuers were compelled to seek to exclude staking elements because of regulatory uncertainty. Such registration indicates an increase in ETH-based investment vehicles.

New Bill Pushes for Bitcoin Tax Payments

A bill to enable payment of federal taxes using Bitcoin was introduced by Representative Warren Davidson. According to the “Bitcoin for America Act“, such payments would not be subject to capital gains tax. BTC proceeds would be deposited in the U.S. Strategic Bitcoin Reserve by the government.

🔥BREAKING: Rep. Warren Davidson just introduced the #Bitcoin for America Act to Congress.

This will:
– Codify the SBR Executive Order and improve custody.
– Allow taxes to be paid in Bitcoin with NO Capital Gains.
– All Bitcoin paid will be held for 20 years minimum. pic.twitter.com/nhRbdguOb4

— Altcoin Daily (@AltcoinDaily) November 20, 2025

Advocates believe that this might contribute to greater digital competitiveness in the world. The estimated number of BTC possessed by the U.S. is currently over 198,000. The bill seeks to streamline crypto taxation and make it more adaptive.

Grayscale Launches DOGE and XRP ETFs

On November 24, Grayscale will launch Dogecoin and XRP ETFs on the NYSE. The dual debut is the first occasion when two significant altcoin ETFs are released simultaneously. The permission was granted in a turbulent market that puts investor appetite in doubt. The step was described by Bloomberg analyst Eric Balchunas as important to altcoin products. The outcome of these funds will be a sign of mainstream interest in regulated crypto investment vehicles.

Kraken Files Confidential IPO With SEC

The Kraken filed IPO documents confidentially with the SEC under Rule 135. The exchange noted that the share pricings and terms are pending review by the SEC. It plans to go public when the conditions are in accordance with its long-term strategy.

The filing by Kraken comes after the investment round that valued the company at $20 billion. Citadel Securities committed $200 million, alongside Jane Street and DRW Venture Capital. The firm trades more than 450 tokens and has recently noted tokenized equities as an emerging growth area.

Malaysia Reports $1.1 Billion Power Loss from Illegal Mining

According to the Energy Ministry of Malaysia, Tenaga Nasional Berhad incurred losses of $1.1 billion as a result of electricity theft. More than 13,800 isolated locations bypassed meters and mined crypto between 2020 and 2025. These operations were against the Electricity Supply Act, even though there were no special mining regulations.

Authorities stated the electricity blackout is an indication of escalating energy issues surrounding cryptos. The government still monitors illicit connections and strengthens meter security. These losses point to an expanding dilemma of energy infrastructure.

Binance Japan Teams Up with PayPay for Crypto Payments

Binance Japan completed integration with PayPay balance service. This enables one to buy crypto through PayPay balances or points. The minimum transaction costs 1,000 yen, and the minimum withdrawal fee is 110 yen.

🚨重要なお知らせ 🚨

🎉本日よりPayPayマネーの連携サービスを開始しました！🎉

✅ PayPayマネーの入金を通じて暗号資産が買える💰PayPayポイントも利用可能✨
✅ 1,000円から24時間365日取引可能⏰🗓️
✅ 出金手数料は一回につき110円📲

PayPayマネーの連携サービス詳細👇https://t.co/5W8htvVZKQ… https://t.co/ISbtlonpfi pic.twitter.com/XNxYk6Vahv

— Binance Japan 🇯🇵 (@_BinanceJapan) November 21, 2025

Earlier on, PayPay formed a partnership with Binance Japan by buying 40% of the shares. The move seeks to advance the use of crypto by means of cashless services. It also shows how Binance is driving into traditional financial services.

Robert Kiyosaki Sells $2.25M in Bitcoin for Investments

Author Robert Kiyosaki disclosed that he sold Bitcoin at $90,000 per coin. He had initially purchased it at a price of $6,000, which has earned a profit of more than $2.25 million. The proceeds will go towards surgery centers and billboards, which are planned to be invested in by Kiyosaki. He estimates a monthly cash inflow of $27,500 out of these investments. Although he sold it, he affirmed that he would invest again in Bitcoin. His moves indicate a tactical asset repositioning without giving up on digital assets.

White House Considers IRS Access to Offshore Crypto Data

A proposed rule would permit the IRS to access U.S. taxpayer data on offshore crypto accounts. The rule was sent to the White House for review. Should it pass, the U.S. would become a part of a worldwide Crypto-Asset Reporting Framework (CARF). With this move, stricter compliance with taxes on overseas digital holdings would be enforced. The IRS would have a means of averting evasion using foreign exchanges. The move also complies with the wider digital property regulation objectives of the administration.

Tether Invests in Parfin for LATAM Blockchain Expansion

Tether announced a strategic investment in a Latin American digital finance platform, Parfin. This is aimed at expanding institutional applications of USDM in the region. The tools supplied by Parfin are those of custody, tokenization, and settlement.

Tether Invests in Parfin to Accelerate Institutional Use Cases of Digital Assets in LATAM
Learn more: https://t.co/a6e0HvlYTt

— Tether (@Tether_to) November 20, 2025

The investment by Tether helps to adopt blockchain-powered finance locally. USDT will become a trade finance settlement asset and a credit market asset. The strategy is viable to institutional concerns and enhances effective infrastructure.

Coinbase Acquires Vector.Fun for On-Chain Trading Tools

Coinbase agreed to acquire Vector.fun to enhance its trading tools. The agreement involves the employment of 13 workers and the shutdown of the apps at Vector. Vector occupies the 0.5% market share and was introduced under the NFT platform Tensor. Coinbase plans to develop on-chain functionality with the technology of Vector. The purchase generated controversy following the TNSR token rising 800% ahead of the announcement. There was speculation by critics that there was insider trading before the deal was revealed.

Strategy Risks Index Removal, May Lose Billions

Under Michael Saylor, Strategy risks are being dropped from important indices such as MSCI and the Nasdaq 100. JPMorgan cautioned that it would trigger a $2.8 billion passive fund drainage through elimination. MSCI may be copied by other index providers. The proposal is focused on companies whose digital assets are more than half of their total assets. According to critics, such firms are similar to funds and not index-eligible companies. January 15, 2026, is the timeframe when the final decision should be expected.

OCC Confirms Banks Can Hold Crypto for Fee Payments

The OCC released a guideline that allowed the banks to store crypto for gas charges. This is permitted by Letter 1186 in the case of licensed blockchain activity. Institutions may also maintain assets required to test the platforms.

The OCC confirmed permissible bank activities related to paying crypto-asset network fees, sometimes referred to as “gas fees.” Read more at https://t.co/fCIhmzWVLP. pic.twitter.com/SZFt4rHwEB

— OCC (@USOCC) November 18, 2025

The OCC imposed safety and compliance in the management of these holdings. This explains why banks are increasingly interested in blockchain services. It also recognizes the practical considerations that are related to crypto infrastructure.

Japanese FSA to Reclassify Crypto with Tax Benefits

Japan’s Financial Services Agency of Japan plans to regulate 105 cryptocurrencies as financial products. The modification will adopt significant tokens such as Bitcoin and Ethereum. It also brings in tax incentives for stock investments. The new policy is planned to be executed in 2026 and will shift the current tax rate of 55%. A flat capital gains tax of 20% could apply to crypto gains in the near future. The FSA also intends to limit insider trading on project disclosures.

Digital Asset Investment Products Market Overview

According to the latest report by CoinShares, digital asset funds lost $1.94 billion last week, extending a four-week streak of outflows. The cumulative losses have reached $4.92 billion in the month. The trend represents a 2.9% decrease in total assets under management, which is among the largest since 2018.

Bitcoin suffered the most losses, with $1.27 billion in outflows, but it recovered by a small margin of $225 million on Friday. Ether came in second, with a loss of $589 million, although it also registered inflows of $57.5 million toward the end of the week. Solana reported a loss of $156 million, further exacerbating its pressure.

Digital asset investment products saw US$1.94bn of outflows last week, bringing the four-week total to US$4.92bn, the third largest outflow run since 2018. Bitcoin saw the majority of outflows totalling US$1.27bn while Ethereum saw outflows totalling US$589m.…

— Wu Blockchain (@WuBlockchain) November 24, 2025

Short Bitcoin products enjoyed good momentum, attracting $19 million last week and $40 million in three weeks. Its assets have grown by 119% due to these inflows, indicating the activity of investor hedging. In contrast, XRP received new investments of $89.3 million. Though the overall pullback was involved, inflows of $258 million on Friday were an indication of improved investor confidence going into the new week.

Bitcoin Price Performance

Bitcoin experienced a rocky performance as the price declined by almost 10%. The flagship asset dropped from highs of $95K to $81K, marking its sharpest monthly decline since 2022. As of this writing, the market cap and trading volume are $1.70 trillion and $67 billion, respectively.

Looking at the technical indicators, BTC continues to decline with the red candlesticks reigning the chart. The Relative Strength Index (RSI) has also dropped to the oversold region, indicating increased selling pressure in the market. Should the current trend dominate, BTC could correct further below the $80K region.