Japan's Financial Services Agency announced Nov. 7 support for a joint stablecoin issuance pilot by Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corporation, and Mizuho Bank, CoinDesk reports. The pilot marks the first initiative under the newly established Payment Innovation Project (PIP) designed to advance payment sector innovation. Mitsubishi Corporation will serve as business partner, Progmat will provide issuance infrastructure, and Mitsubishi UFJ Trust and Banking Corporation is expected to handle trust functions.

Multiple Wall Street banks warned that pressure in U.S. money markets may flare up again, potentially prompting faster Federal Reserve intervention to contain a fresh surge in short-term rates, the Financial Times reported on Nov. 7. Short-term funding rates stabilized this week after tensions emerged in key segments of the financial system last month. Deirdre Dunn, head of rates at Citibank and chair of the Treasury Borrowing Advisory Committee, said she does not view this as an isolated anomaly lasting just a few days, while Scott Skyrm, executive vice president at Curvature Securities, noted funding stress is likely to return at least by month-end and year-end. Meghan Swiber, rates strategist at Bank of America, said aggressive Treasury bill issuance at historically high levels could exhaust traditional investor demand, suggesting the Fed may need to step in as a buyer.

Ark Invest purchased 215,709 shares of BitMine stock valued at approximately $8.06 million on November 6, Ark Invest Tracker data show. The acquisition was made by Cathie Wood's investment firm.

Stream Finance suspended deposits and withdrawals on Nov. 3 following a liquidation event that resulted in approximately $93 million in losses on Oct. 11, the platform announced. An external fund manager's position was liquidated during significant market volatility. The incident exposed liquidity risks across multiple DeFi protocols, with Elixir facing $68 million in exposure and Morpho addressing liquidity shortfalls in certain pools, which the protocol's co-founder said were not system vulnerabilities. Yield-bearing stablecoins saw their largest weekly outflow since the Luna collapse, totaling $1 billion, while Ethena Labs' USDe market cap fell below $9 billion, down roughly 45% over the past month.

Yield-bearing stablecoins saw $1 billion in outflows over the past week, the sector's largest weekly redemption since the Terra-Luna collapse in May 2022, Stablewatch data show. Stream Finance's xUSD was liquidated entirely following a $93 million loss in underlying fund assets. Coinshift's csUSDL saw its total value locked drop 95% to $1.92 million, while Elixir's deUSD and sdeUSD both faced liquidity crises.

A wallet associated with SharpLink, Ethereum's second-largest holder, deposited 4,363.5 ETH valued at approximately $14.47 million to OKX on November 7, Onchain Lens data show. The transaction represents a significant movement from one of the network's major institutional holders to the centralized exchange platform.

Ethereum-based lending protocol Compound paused several v3 Comet markets, including USDC, USDS, and USDT markets, following a proposal by DeFi research firm Gauntlet that passed. Withdrawals for USDC and USDS lending markets resumed on Nov. 6, with Compound stating it will gradually restore markets while ensuring system security. The pause responds to a liquidity crisis affecting Elixir's deUSD and sdeUSD tokens, both listed as collateral across the markets, following Stream Finance's Nov. 4 disclosure of a $93 million loss in fund assets, with Elixir bearing $68 million in exposure.

Filecoin (FIL) perpetual contract funding rates on major centralized exchanges surged to sharply negative levels on November 7, with Binance reporting -1.005%, Coinglass data show. FIL traded at $2.184, up 61.2% over 24 hours, HTX market information show. Total FIL contract liquidations reached $6.2 million in the past day, including $4.02 million in short positions, while network-wide open interest stood at $218 million, rising 118% over 24 hours.

A trader closed approximately $10 million in 25x leveraged ETH long positions at a $2.29 million loss and withdrew remaining collateral of around $2.17 million over the past 24 hours, Hyperinsight data show. Huang Licheng re-entered Hyperliquid with about $500,000 on Wednesday evening, establishing 25x leveraged ETH longs; after multiple liquidations, he added collateral 8 hours ago and currently holds approximately $10 million in ETH long positions with an entry price of $3,334.35 and liquidation price of $3,204.10. Separately, Tether increased its Bitcoin holdings by 961 BTC valued at $97.34 million, bringing total holdings to 87,290 BTC worth $8.84 billion.