Crypto News Round-Up — November 2025

Today’s crypto round-up highlights major developments across digital assets and blockchain technology. We cover new stablecoin initiatives, institutional exchange moves, cybersecurity alerts, and central bank innovations. The stories below reflect the latest mainstream interest and ongoing challenges in the crypto space, emphasizing how traditional finance and regulators are engaging with digital currencies.

• BIS Appoints New Head of Digital Currency Hub
• Robinhood and Susquehanna Acquire LedgerX
• Klarna to Launch Dollar-Backed Stablecoin
• SGX to Launch Bitcoin and Ether Futures
• Hackers Embed Malware in Blockchains
• Kraken Files Confidential IPO Plan

BIS Appoints New Head of Digital Currency Hub

The Bank for International Settlements (BIS) has named Tommaso Mancini-Griffoli as the head of its Innovation Hub, overseeing central bank research on digital currencies and related technologies. Mancini-Griffoli, currently a payments expert at the IMF, will take the helm of the BIS’s global innovation center in March. The move comes as the BIS re-evaluates some projects (such as a notable joint venture with Asian central banks) and strengthens its focus on sovereign digital currency tokenization over private stablecoins (Reuters).

Under Mancini-Griffoli, the BIS Hub will continue its work on central bank digital currency (CBDC) prototypes and fintech research. The BIS has been vocal about stablecoin risks and has urged faster progress in tokenizing national currencies. Analysts expect the new leadership to push for greater cooperation among central banks worldwide in setting standards for digital money and blockchain innovation.

Why it matters:

• The appointment underscores global central banks’ commitment to understanding and potentially issuing digital currencies.
• It signals a shift in priorities: private stablecoins face scrutiny as regulators favor sovereign currency tokenization.
• Enhanced international coordination at the BIS could speed adoption of common frameworks for blockchain and CBDC projects.

Robinhood and Susquehanna Acquire LedgerX

Robinhood Markets and trading firm Susquehanna International Group announced they will buy a 90% stake in LedgerX, a U.S. regulated crypto exchange and clearinghouse. LedgerX, formerly part of the defunct FTX group and now run by MIAX, will become part of a new joint venture aimed at offering futures and derivatives products. Robinhood’s move to acquire the regulated exchange is timed with a reported lifting of the ban on election-related betting, opening the door to new prediction market securities (Reuters).

The deal, expected to close in Q1 2026, lets both firms expand into crypto derivatives and prediction markets. Industry developments have seen major players entering this space: Intercontinental Exchange (ICE) invested heavily in Polymarket, and CBOE and CME Group have signaled interest in event-driven contracts. Robinhood and Susquehanna’s plans reflect growing institutional appetite for regulated crypto trading platforms.

Why it matters:

• Securing LedgerX ties Robinhood to regulated crypto futures and prediction markets, a first for the retail platform.
• The move highlights institutional interest in blockchain-based financial products, especially after regulatory barriers like the CFTC’s election betting ban were eased.
• It may pave the way for more mainstream investors to access crypto derivatives through familiar firms, boosting market liquidity and firmness.

Klarna to Launch Dollar-Backed Stablecoin

Swedish fintech Klarna announced plans to issue a U.S. dollar-backed stablecoin called KlarnaUSD. The token will run on Stripe and Paradigm’s blockchain platform Tempo and is currently in testing, with a planned mainnet launch in 2026. Klarna, known for its buy-now-pay-later service, intends the stablecoin for everyday and cross-border payments, aiming to reduce costs and increase speed compared to traditional banking (Reuters).

The launch positions Klarna alongside major payment firms like PayPal and Stripe, which have also entered digital currency offerings. Klarna’s CEO, previously skeptical of crypto, now emphasizes that clear regulations (such as the U.S. GENIUS Act and Europe’s MiCA framework) have made the sector “scalable, secure, and cost-effective.” Market observers note this move as a sign that fintech companies are increasingly treating crypto assets as utilitarian tools rather than speculative products.

Why it matters:

• A leading fintech issuing a stablecoin underscores growing corporate confidence in blockchain payments.
• The step could accelerate crypto adoption by millions of consumers already using Klarna’s platform.
• It reflects how clearer global regulations are enabling mainstream companies to innovate with digital currencies.

SGX to Launch Bitcoin and Ether Futures

Singapore Exchange (SGX) announced it will begin offering perpetual futures contracts for bitcoin and ether starting Nov. 24. The new derivatives will be available to accredited and institutional investors through SGX’s derivatives arm. By listing these perpetual futures, SGX aims to provide Asian investors a regulated avenue to hedge and gain exposure to cryptocurrency volatility while aligning with local compliance standards (Reuters).

The initiative makes SGX one of the first major Asian market operators to launch crypto derivatives, following similar moves by exchanges in Europe and North America. Observers see this as a response to rising demand: Asian banks and funds have been pressing for more crypto products as mainstream asset classes. The SGX move is also in line with recent regulatory comfort, aided by clearer guidelines on digital assets across Asia.

Why it matters:

• By adding bitcoin and ether futures, SGX enables Asia-based institutions to trade crypto in a regulated environment.
• The offering could spur broader crypto adoption in Asian financial markets and boost liquidity.
• It signals confidence from a leading exchange in the long-term viability of crypto derivatives under existing regulations.

Hackers Embed Malware in Blockchains

Cybersecurity researchers have uncovered a novel hacking campaign dubbed “EtherHiding,” in which attackers embed malicious code into blockchain smart contracts. The hidden malware can evade removal and activates when a victim’s wallet interacts with infected contracts. Analysts attribute the technique to North Korean state-sponsored hackers seeking new ways to steal cryptocurrency without detection (Techradar).

Attackers use public blockchain data to insert JavaScript payloads that download backdoors when executed by unwitting users. Because the malicious code resides on-chain, it is publicly visible yet difficult to block. Experts warn that EtherHiding represents a new level of sophistication, blurring the line between blockchain transparency and security. Blockchain projects are urged to audit smart contract code closely and users advised to remain cautious about unknown contract approvals.

Why it matters:

• This exploit shows that malicious actors are developing more creative attack vectors in crypto.
• Embedded malware in smart contracts bypasses traditional removal methods, posing a long-lasting security risk.
• It highlights the importance of security audits and cautious wallet interactions in protecting crypto assets.

Kraken Files Confidential IPO Plan

Major cryptocurrency exchange Kraken has confidentially filed paperwork with U.S. regulators to prepare for an initial public offering, aiming to go public in early 2026. The plan was first reported by Reuters and follows similar moves by other crypto firms seeking to tap public markets. Kraken’s executives believe now is a favorable time as institutional interest in digital asset companies grows (Reuters).

If approved, Kraken would become the latest high-profile crypto firm listed on U.S. exchanges. Investors view such listings as a step toward mainstream finance: they expect improved transparency and stricter oversight. Industry watchers note that Kraken’s IPO would be benchmarked against Coinbase’s performance, as both firms share a large U.S. user base. The filing suggests optimism in the sector, despite recent volatility and regulatory uncertainty.

Why it matters:

• A Kraken IPO would mark continued maturation of the crypto industry and wider investor acceptance.
• Public trading exposes the company to greater scrutiny, potentially increasing trust among risk-averse investors.
• This move reflects that, even amid regulatory challenges, crypto firms see demand from financial markets for access.

Cryptocurrency markets remain highly volatile. This roundup is for informational purposes only and not financial advice. Crypto investing carries significant risk — always do your own research (DYOR) and consider your risk tolerance before trading or investing in digital assets.

Bottom Line

Today’s headlines illustrate the dual nature of the crypto ecosystem: robust institutional engagement and innovation on one side, and persistent security and regulatory challenges on the other. Traditional finance players are embracing digital assets (from fintech stablecoins to new derivatives), but global regulators and cybersecurity experts are cautioning users about potential pitfalls. As the crypto market evolves rapidly, businesses and consumers should stay vigilant. Keep an eye on official guidance and protect your holdings, while remembering that crypto’s high volatility can quickly change market conditions overnight.