Securitize secured regulatory approval from Spain's CNMV on Wednesday to operate a trading and settlement system under the EU's DLT Pilot Regime. The firm will build its European infrastructure on Avalanche, with the first issuance planned for early 2026.

S&P Global Ratings assigned Tether's USDT stablecoin its weakest stability assessment of 5, citing increased allocation to riskier reserve assets. Bitcoin holdings now represent approximately 5.6% of USDT's circulating supply, exceeding the 3.9% reserve buffer reported in Tether's third-quarter attestation. The agency warned that a significant bitcoin price decline could leave USDT undercollateralized, particularly if combined with losses from other high-risk assets.

Texas completed a $5 million purchase of BlackRock's IBIT on November 20, marking the first deployment from its Strategic Bitcoin Reserve, according to the Texas Blockchain Council. The reserve operates under the Texas Treasury Safekeeping Trust Company with a $10 million budget authorized by Governor Greg Abbott in June through Senate Bill 21.

MegaETH's USDm stablecoin pre-deposit launch on Tuesday faced multiple technical disruptions, including a bridge outage and a multisig configuration error. The misconfigured 4-of-4 signature threshold allowed premature execution of a cap-increase transaction, causing deposits to reopen 34 minutes early and surpass $400 million before the team stabilized operations. MegaETH has since canceled plans to raise the cap to $1 billion and will offer a withdrawal option to affected users.

Monad's MON token traded at $0.0365 on Monday, up 46% from its $0.025 sale price after rebounding from an early decline. Coinbase's inaugural token sale platform drew nearly 86,000 participants from over 70 countries, raising $269 million against a $187.5 million target.

Short interest in BlackRock's spot bitcoin ETF has dropped to levels last seen in April, data show. The decline reflects traders closing bearish positions during the current market downturn. IBIT's short interest fell from approximately 2% of shares outstanding to a fraction of that level, according to Bloomberg Intelligence analyst Eric Balchunas.

Institutional allocators are viewing the current cryptocurrency market decline as potential entry opportunities, according to market analysts. Bitcoin has experienced significant selling pressure, with more than $2 billion in leveraged positions liquidated within 24 hours. Analysts note fundamental differences from previous market cycles, including broader institutional ownership and regulatory progress, though further downside remains possible.

MegaETH will open pre-deposits for its USDm stablecoin on November 25, with a $250 million cap on a first-come basis. The stablecoin uses Ethena's USDtb infrastructure to generate yield that will offset sequencer costs. Participation is restricted to users who completed KYC during the project's token sale, which drew over $1.39 billion in bids.

Cipher Mining has signed a 10-year agreement with Fluidstack to lease its entire 300-megawatt Barber Lake campus in West Texas. The deal adds 39 MW of critical IT load and represents approximately $830 million in initial-term revenue. The miner is simultaneously pursuing a $333 million senior secured note offering to fund continued construction.