Morning Crypto Wrap — 11 November 2026

Executive brief

Digital asset markets are under renewed defensive pressure as macroeconomic headwinds dampen broader risk appetite. While traditional equities staged an AI-led recovery, Bitcoin remains subdued below the $74,000 threshold following a stronger-than-expected October CPI inflation print of 0.4%. The persistent inflation data has propelled expectations of additional Federal Reserve policy tightening in December, including rising probabilities of a 50-basis-point increase, which pushed the benchmark 10-year Treasury yield back above 5.00%. Cryptocurrency markets experienced substantial leveraged liquidations, with spot exchange-traded funds recording sustained redemptions. Spot Bitcoin funds shed $95,001,233.75 in daily net outflows as institutional capital pulled back, mirrored by four consecutive days of withdrawals. Additional structural selling appeared onchain, highlighted by Bitcoin miner MARA offloading 13,597 BTC to settle debt and fund data centre expansion.

Despite the prevailing macro weakness, institutional integration continues to make notable structural strides across banking and tokenised finance. Germany’s premier lender marked a significant milestone as Deutsche Bank launched crypto custody for enterprise clients, while a consortium of major global banks committed $270m to the Project Faro stablecoin venture. Concurrently, real-world asset tokenisation is gaining momentum: Payward extended Kraken’s xStocks across Europe to surpass $1.1b in assets, and OKXICE scheduled its 24/7 tokenised exchange debut for late November under SEC innovation relief. Meanwhile, Europe’s Spiko tokenised fund reached $2.39 billion in assets under management.

From a risk perspective, the immediate trajectory remains fragile as liquidity conditions deteriorate. The broader contraction in stablecoin supply of $14.2b represents the sharpest drawdown since the 2022 bear market, signalling capital extraction from digital asset ecosystems. Furthermore, derivative desks report mounting caution, with options markets raising odds of a sub-$70,000 price level before Christmas. Unless macroeconomic tightening fears subside, digital asset valuations face persistent downside volatility, even as institutional rails expand.

1) Top 20 news headlines

• OKXICE sets Nov. 23 launch for tokenized securities venue under SEC innovation exemption; the 24/7 blockchain trading venue begins operations on 23 November with more than 70 listed assets.
• Stablecoin supply drops $14.2 billion in largest contraction since 2022 bear market; total stablecoin circulation fell by $14.2b in the sharpest reduction since 2022.
• Deutsche Bank goes live with digital asset custody service, signs asset management deal; corporate and institutional clients can now store and transfer Bitcoin, Ether, and stablecoins under MiCA regulatory permissions secured on 12 October.
• Bitcoin sits out stock rebound as ETF outflows extend to fourth day; Bitcoin held near $74,000 as October inflation lifted expectations for higher interest rates to roughly 90%.
• Kraken’s xStocks adds 200 UK and EU shares as its assets top $1.1 billion; the platform expanded to include more than 200 European equities as total backed assets surpassed $1.1b.
• Global banks commit $270M to stablecoin venture targeting 2027 launch; Goldman Sachs, Citigroup, and BBVA committed $270m to back Project Faro for a planned rollout in the first half of 2027.
• Bitcoin miner MARA sold 13,597 BTC for $1.1 billion in six weeks, plans to sell more; MARA liquidated 13,597 BTC for $1.1b over six weeks to eliminate debt and fund computing infrastructure.
• Bitmine reports $6.3 billion net loss in latest fiscal year, driven by 44% ether decline; the treasury holding firm logged a $6.3b loss after holding 6.07 million ETH amid a 44% decline in token price.
• CoreWeave stock jumps 15% premarket after Q3 revenue beats estimates; the cloud infrastructure firm reported Q3 revenue surged 168% to $3.66b, lifting shares 15% in premarket trading.
• Bitcoin Core discloses three patched security flaws, including high-severity mining bug; developers issued patches covering three vulnerabilities, including a high-severity bug that risked stalling mining nodes.
• Barclays boosts BlackRock Bitcoin ETF stake 48% as banks expand holdings; Barclays raised its position in BlackRock’s spot Bitcoin ETF by 48% to reach $187m in the third quarter.
• SEC enforcement actions fall 24%, crypto cases in spotlight; total SEC enforcement proceedings fell 24% to 348 cases in fiscal 2026, securing $1.1b in aggregate penalties and disgorgement.
• Bitcoin ‘ripe for a squeeze’ as options traders raise odds of sub-$70,000 Christmas; derivatives markets priced elevated downside probability for Bitcoin dropping below $70,000 by late December.
• Zcash falls below $1,000 for first time since September; ZEC fell roughly 15% to breach the $1,000 support level, reaching a low of $963.
• Meet Spiko, the largest tokenized fund in the world you’ve probably never heard about; the Spiko Amundi Overnight Swap Fund recorded $2.39b in total assets under management as of late last month.
• Initia confirms second exploit in 3 weeks, $3.27M stolen in latest attack; attackers exploited cloud credentials to steal $3.27m, leaving $2.16m frozen on the halted chain.
• Crosschain protocol Across restores systems after domain hijack; the crosschain bridge restored frontend controls after an exploit targeting its domain provider resulted in malicious redirect activity.
• Nomura’s Laser Digital helps launch Saudi SME credit vault targeting $100 million on BNB Chain; the investment arm launched an onchain credit vehicle on BNB Chain targeting $100m for Saudi enterprises.
• Plume affiliate lands broker-dealer license to bring real U.S. assets onchain; Kimber Digital Securities received SEC and FINRA broker-dealer approval to distribute tokenised securities to self-custody wallets.
• Pyth Network adds NYSE stock and ETF data to its marketplace; the oracle platform integrated direct price feeds covering NYSE stocks and exchange-traded funds.

2) BTC and ETH ETF flows

3) X trending news

• Stablecoin contraction; aggregate stablecoin supply decreased by $14.2b in the sharpest single contraction since the 2022 bear market.
• Russian crypto trading; the Central Bank of Russia stated domestic exchanges can commence crypto trading starting 17 November.
• OKXICE venue rollout; OKX and Intercontinental Exchange confirmed a 23 November launch for their round-the-clock tokenised securities venue.
• Deutsche Bank custody; Germany’s largest banking institution officially launched its institutional digital asset custody platform.
• Tokenised equity surge; circulating supply of onchain tokenised equities grew by $932m over one week to cross $4.7b.
• Leverage liquidation flush; more than $600,000,000 in leveraged positions were liquidated in four hours as Bitcoin fell under $73,000.
• Banking stablecoin commitment; a consortium of institutions including Goldman Sachs, Citigroup, and Deutsche Bank committed $270m toward a joint stablecoin.