Grayscale has submitted an application to list a Zcash exchange-traded fund on NYSE Arca under ticker ZCSH. ZEC rose from approximately $30 at the start of 2025 to $699 by November, data show. The proposed structure relies on cash creations initially, with Coinbase Custody holding assets and BNY Mellon serving as administrator.

China's central bank has reinforced its prohibition on cryptocurrency operations following a Friday meeting with thirteen government agencies. The PBoC highlighted stablecoins as failing to meet anti-money laundering and customer identification standards. The bank characterized these assets as a threat to national financial security.

Markets delivered a broad rally during Thanksgiving week, with Bitcoin climbing over 7% to surpass $90,000 and the S&P 500 gaining 3.7% in its strongest weekly performance since May, data show. The advance persisted despite a rare Chicago Mercantile Exchange trading halt caused by a data center cooling failure. Federal Reserve rate cut expectations and Alphabet's unveiling of a new AI model fueled gains across stocks, bonds, commodities, and digital assets.

South Korea's Upbit discovered a critical wallet software vulnerability while investigating a $30 million theft. The exchange identified a defect that could potentially expose private keys through blockchain data analysis. Upbit has suspended operations and pledged full reimbursement to affected users, though no direct link between the flaw and the November 26 breach has been confirmed.

Kazakhstan's central bank has designated up to $300 million from its gold and foreign exchange reserves for cryptocurrency investments, Governor Timur Suleimenov said November 29, 2025. The actual allocation could range from $50 million to $250 million, depending on market conditions following recent volatility that saw Bitcoin drop 17% before recovering. The bank will wait for market stabilization before executing purchases.

South Korea will mandate identity checks on all cryptocurrency transactions regardless of amount, eliminating the current 1 million won reporting threshold. The Financial Services Commission announced citizens will be barred from sending funds to foreign exchanges flagged for money-laundering risks. Executives at crypto firms will face enhanced eligibility screenings, including automatic disqualification for prior convictions related to drugs, tax evasion, or other serious offenses.

The Chicago Mercantile Exchange suspended futures trading for approximately 10 hours on Friday following a cooling system malfunction at its Aurora, Illinois data center operated by CyrusOne. The outage affected equities, commodities, currencies, energy, and cryptocurrency markets during the post-Thanksgiving Asia session when U.S. markets were closed and liquidity was thin. CME restored full functionality around 1:30 p.m. UTC.

Cryptocurrency funding reached nearly $25 billion in 2025, representing a surge of over 150% compared to 2024. Centralized exchanges attracted approximately $4.4 billion, followed by prediction markets with $3.2 billion and DeFi platforms with $2.9 billion, data show. The influx signals a marked shift in institutional sentiment toward blockchain and digital-asset ventures.