Kraken Files for US IPO

️ On today's Top Picks:

Crypto News

• ⭐️ Kraken confidentially files for US IPO; raised $200M at a $20B valuation from Citadel Securities; raised $600M at a $15B valuation from several investors in September.

• Coinbase $COIN to host System Update event on December 17th; to announce new products, business updates, & more; researcher Jane Manchun Wong recently found prediction market & stock trading webpages.

• Mt. Gox transfers 10,423 $BTC (~$957M) to fresh Bitcoin address & 185 $BTC (~$17M) to Kraken; recently pushed back creditor repayment deadline by another year to October 2026;

• BlackRock $BLK registers iShares Staked Ethereum $ETH ETF; BlackRock, 21 Shares, Grayscale, & others have previously filed to add staking to their existing Ethereum ETFs.

• Ethereum $ETH $1B DAT proposed by Huobi founder Li Lin, Fenbushi Capital founder Shen Bo, HashKey Group CEO Xiao Feng, & others has been canceled due to market downturn; committed capital has been returned.

• 21 Shares Solana $SOL ETF (TSOL) begins trading; joins Fidelity (FSOL), Bitwise (BSOL), Canary Capital (SOLC), & Grayscale (GSOL) in launching a Solana ETF.

• Bitwise $XRP ETF (XRP) to begin trading on November 20th; joins Canary Capital (XRPC) in launching a XRP ETF.

• Decentralized Infrastructure Network (DIN) launches as an Autonomous Verifiable Service (AVS) on EigenLayer $EIGEN mainnet; represents the first large-scale, slashable decentralized RPC layer.

• Samourai Wallet co-founder William Lonergan Hill sentenced to four years in prison; Samourai Wallet co-founder Keonne Rodriguez was also sentenced to five years in prison in early November.

Alpha

• Jesse Pollak to launch $JESSE token on the Base app; to launch on November 20th at 9 AM PST.

• ⭐️ MegaETH to launch Frontier mainnet beta in early December; also closes $MEGA public sale; to reveal final allocations on November 21st.

• Aztec launches Ignition Chain mainnet; $AZTEC public sale is ongoing; offering 14.95% of supply with a starting floor price of $350M FDV.

• Soneium launches Soneium Score Season 4; users with at least 80 points to be eligible for badge; to launch claim for Season 3 badge soon.

• Lighter teases announcements coming this week; recently raised $68M at a $1.5B valuation led by Ribbit Capital & Founders Fund.

• Paradex distributes 930 BadgerBoxes to top XP holders; contains items of varying rarity from the The MoneyBadgers NFT collection

• Liquid launches Points Season 1; to distribute 100K points weekly; earn points by trading, keeping funds deposited, referring others, & using new features.

• MetaMask launches new MetaMask Rewards boost; swaps into MetaMask USD $mUSD now yield 50% extra points for two weeks.

• Phantom launches Phantom Terminal, a "new platform for pro-level trading on the web"; also launches support for Hyperliquid HyperEVM $HYPE; also launches a limited set of Phantom Cash features for everyone.

• Rainbow to launch $MOG collectible app icon on November 20th; also launches support for Abstract & $B3 networks; to launch $RNBW soon.

• OpenSea unlocks Wave 2 of Treasure Chests; also unlocks Wave 3 starter chests; Wave 3 of Treasure Chests is live until December 15th.

• USDai launches on Base & raises caps by $250M; USDai recently raised an undisclosed amount in funding from Coinbase Ventures.

Airdrops

• GAIB launches $GAIB airdrop eligibility & allocation checker; AID Alpha Spice holders, Fremen Essence NFT holders, & more are eligible; claim on November 20th.

• ⭐️ BOB to launch $BOB airdrop claim on November 20th; BOB Spice (points) holders to be eligible; ~4.15% of BOB supply is allocated to initial airdrop claims & staking bonuses.

• deBridge launches $DBR Season 2 airdrop claim; deBridge Season 2 points holders are eligible; claim closes on December 19th.

• Nansen launches Anichess $CHECK airdrop; Ice, North, & Star tiers are eligible; stake for 1 month to earn 20 Nansen points.

• Irys launches $IRYS airdrop registration & eligibility checker; Irys Genesis NFT holders; Discord & Telegram community members, & more are eligible.

• Owlto Finance teases $OWL token; to potentially launch TGE & airdrop soon.

• Reya announces $REYA tokenomics; 45% of REYA supply is allocated to the Community.

• Espresso announces another path to $ESP airdrop eligibility; Plume top users to be eligible.

Finance News

• US President Trump says he knows who will be the next Federal Reserve Chair & interviews are underway; adds he would "love to get Fed Chair Powell out right now," but "people are holding him back" from firing him.

• US Labor Department cancels October jobs report due to recent government shutdown.

• ⭐️ Nvidia $NVDA reports Q3 FY 2026 earnings; reports $57B (+62% YoY) in revenue, higher than expectations; expects ~$65B in revenue in Q4 FY 2026.

• Bullish $BLSH reports Q3 2025 earnings; reports $18.5M in net income, $76.5M in revenue (+72% YoY), adjusted EBITDA of $28.6M, & more.

• Canaan $CAN reports Q3 2025 earnings; reports $150.4M (+104% YoY) in revenue, $30.6M (+241% YoY) in mining revenue, 1,610 Bitcoin $BTC (~$148M), & 3,950 Ethereum $ETH (~$12M) in its crypto treasury, & more.

• DeFi Dev Corp $DFDV files Form 10-Q for Q3 2025; reports unrealized gain of $74M; currently holds 2,195,926 SOL (~$311M).

• BNB Network Company $BNC buys an additional ~15K $BNB; now holds 515,054 BNB (~$467M) acquired for ~$436M at $851 per BNB.

• Sonnet BioTherapeutics $SONN delays shareholder vote on merger with Rorschach I LLC to form Hyperliquid Strategies; needs 50+% of outstanding shares to vote in favor of the deal.

• ⭐️ Cypherpunk $CYPH buys an additional 29,869 Zcash $ZEC for $18M at an ~$603 per ZEC; now holds 233,644 ZEC (~$157M) acquired at $291M per ZEC.

Security and Exploits

• Cloudflare suffered outage due bot detection system; took down 20% of the internet, including several crypto platforms.

• Security Alliance to launch SEAL Certifications, an open-source security certification program for crypto projects; currently seeking community feedback & working with pilot organization to refine frameworks.

• GANA Payment exploited for ~$3.1M+ on BSC; attacker deposited stolen funds to Tornado.

Token Unlocks

• LayerZero $ZRO / ~$36M / NOV 20th
• Kaito $KAITO / ~$7M / NOV 20th
• SOON $SOON / ~$16M / NOV 23rd
Sourced from Tokenomist

Funding

• Obex raises $37M in funding led by Framework Ventures, LayerZero $ZRO, & Sky $SKY $USDS.

• Deblock raises €30M ($35M) in Series A funding led by Speedinvest, CommerzVentures, & Latitude.

• Wizzwoods $WIZZ raises $10M in Series A funding led by Animoca Brands & Infinity Ventures Crypto.

• 0xbow raises $3.5M in Seed funding led by Starbloom Capital.

• Mu Digital raises $1.5M in Pre-Seed funding from several investors.

• Ledn raises an undisclosed amount in Strategic funding from Tether.

The Degen Farmer