Alex Gluchowski, founder of ZKsync, unveiled a tokenomics redesign on November 4, 2025, aiming to transform the ZK token beyond its governance function. The proposal centers on using network revenue to execute token buybacks and burns, creating deflationary pressure. Revenue will also fund staking rewards and ecosystem development, directly tying token value to network performance.

Suilend has paused all deposits and withdrawals in its Elixir Isolated Market and contacted the Elixir team demanding immediate loan repayment. The move follows Stream Finance's disclosure of approximately $93 million in losses through an external fund manager. Elixir maintains it holds full redemption rights at $1 with Stream for its lending position.

Small Bitcoin holders have sharply reduced exchange activity, with daily deposits from wallets holding less than 0.1 BTC falling from approximately 552 BTC in early 2023 to 92 BTC currently, according to CryptoQuant data. The shift follows the January 2024 launch of spot Bitcoin ETFs, which provided regulated exposure channels that reduced direct exchange interaction. ETF flows and corporate treasury purchases have become the primary drivers of network demand, replacing traditional retail trading activity.

Decentralized perpetual futures platforms recorded over $1.3 trillion in trading volume during October, the first time on-chain exchanges exceeded the trillion-dollar mark in a single month. The figure nearly doubled September's $738 billion, with open interest reaching approximately $17.9 billion, data show.

The Electric Coin Company released its fourth-quarter 2025 roadmap on October 31, detailing priorities for privacy enhancements and technical improvements. The announcement comes as ZEC trades near $422, reaching an eight-year high and pushing the token's market capitalization above $7 billion.

Tether International reported net profit exceeding $10 billion for the first nine months of 2025, with total reserves reaching $181.2 billion against $174.4 billion in liabilities. The stablecoin issuer holds $135 billion in U.S. Treasuries, $12.9 billion in gold, and $9.9 billion in Bitcoin. Independent accounting firm BDO confirmed the accuracy of Tether's financial figures in an attestation report.

S&P Global Ratings assigned Strategy Inc., formerly MicroStrategy, a B- issuer credit rating, citing concerns over the company's Bitcoin-focused business model. Strategy holds 640,808 Bitcoins valued at approximately $74 billion, making it the largest corporate Bitcoin holder globally. The rating agency highlighted currency mismatch between the firm's Bitcoin assets and its U.S. dollar-denominated debt obligations as a primary risk factor. Strategy maintains roughly $8 billion in outstanding convertible debt and owes more than $640 million annually in preferred dividends.