KLEA Crypto Daily: Thursday, November 06, 2025

Published: November 7, 2025 – 00:03 UTC

Here’s a look back at the key stories from November 06, 2025.

Tether and Kraneshares Forge Alliance to Drive Global Tokenization Efforts

Hadron by Tether partners with Kraneshares and Bitfinex Securities to accelerate the development and adoption of tokenized securities internationally.

Stream Finance Collapse Forces Elixir to Retire deUSD Stablecoin

Elixir discontinues its deUSD synthetic dollar following Stream Finance's collapse, with redemptions reaching 80% and remaining balances redeemable for USDC.

Cathie Wood Revises Bitcoin Price Target to $1.2 Million by 2030

Ark Invest CEO Cathie Wood has adjusted her bullish Bitcoin forecast, lowering her 2030 price target from $1.5 million to $1.2 million. Despite the revision, Wood maintains a positive long-term outlook on Bitcoin, attributing the adjustment to the rapid rise of stablecoins.

USDX Stablecoin Plunges 40% as Delta-Neutral Hedge Fails

Stable Labs’ USDX stablecoin experienced a sharp drop below $0.60 after losing its peg to the U.S. dollar, raising concerns among decentralized finance platforms exposed to it. The token's delta-neutral hedging strategies on exchanges have come into question following the significant decline.

Coinbase Challenges U.S. Treasury Over Stablecoin Yield Ban

Coinbase Global Inc. has contested U.S. Treasury plans for a blanket ban on stablecoin yield, arguing that it exceeds the Treasury's mandate under the GENIUS Act. Coinbase urged the Treasury to restrict the yield ban only to stablecoin issuers to avoid hindering innovation and stablecoin adoption.

Galaxy Research Reports Over $104B in Dormant Bitcoin Moves

Galaxy Research has revealed that more than $104 billion worth of long-held Bitcoin has changed hands since 2024, sparking discussions on whether early adopters are exiting the market or engaging in routine trading activity. The data shows a significant increase in activity among long-term holders amid Bitcoin's recent pullback.

Justin Sun Delivers Keynote at Chainlink’s SmartCon 2025 as TRON DAO Featured as Gold Sponsor

TRON DAO proudly served as Gold Sponsor of SmartCon 2025, where Sam Elfarra from TRON DAO participated in a high-profile panel discussion on blockchain technologies.

$100B in Old Bitcoin Moved, Raising ‘OG’ Versus ‘Trader’ Debate

Over $100 billion in old Bitcoin has moved, sparking a debate on whether OGs or traders are behind the market sell-off.

Galaxy Digital Comes Back to Earth After Optimistic Bitcoin Prediction

Crypto investment firm Galaxy Digital has revised its Bitcoin price forecast for 2025, lowering its target to $120,000 from $180,000. This shift reflects a cautious stance due to weak market momentum and challenges like reduced inflows of exchange-traded funds and flattening retail activity.

Liquidity Headwinds Drag On Bitcoin

Fundstrat’s Tom Lee warns that Bitcoin remains highly sensitive to liquidity conditions and broader market risk sentiment due to macro headwinds, such as the U.S. government shutdown and a hawkish Federal Reserve stance, impacting digital assets.

New Book Arabian Crypto Reveals How the UAE Built a $Trillion-Dollar Digital Asset Hub

Arabian Crypto: UAE sheds light on the United Arab Emirates' transformation into a vibrant crypto capital, showcasing the individuals behind the country's success in becoming a global blockchain enterprise and Web3 innovation hub.

Cross-Market Trading Volume Hits Record $5 Billion in October on CROSSx

Crossover Markets reports a record-breaking $5 billion in trading volume for October 2025 on CROSSx, the world's first execution-only cryptocurrency platform. The platform executed 1.39 million trades, showcasing significant growth and institutional participation.

Coinbase Urges Treasury to Keep GENIUS Act Rules Aligned with Congressional Intent

Coinbase is advocating for the Treasury to maintain alignment with the congressional intent of the GENIUS Act rules, emphasizing the importance of regulatory consistency.

Bank of England Calls for Closer U.S.–U.K. Cooperation on Crypto Regulation

The Bank of England is pushing for enhanced coordination between the U.S. and the U.K. in cryptocurrency regulation, particularly focusing on stablecoin oversight, as both countries evolve their regulatory frameworks.

Ripple Completes $500 Million Funding Round, Valuation Reaches $40 Billion

Ripple has finalized a $500 million funding round led by Fortress Investment Group, Citadel Securities, Pantera Capital, and Galaxy Digital, boosting its valuation to $40 billion. This significant investment underscores growing confidence in Ripple's digital asset infrastructure.

Franklin Templeton Launches Hong Kong’s First Tokenized Fund

Franklin Templeton has introduced Hong Kong's inaugural tokenized money market fund, the Franklin OnChain U.S. Government Money Fund. This move represents a milestone in regulated digital asset products in the region, offering professional and institutional investors access to short-term U.S. government securities through an end-to-end tokenized structure.

Bitcoin Drops to $100K Support Level Amid Dollar Strength

Bitcoin experienced a significant drop to the key $100k support level due to a stronger dollar and uncertainty surrounding Fed policies. This led to U.S. spot Bitcoin ETFs witnessing substantial net outflows and over $1 billion in long liquidations.

Ripple CEO Champions XRP Amid Record Growth and Strategic Investments

Ripple CEO Brad Garlinghouse is doubling down on XRP, highlighting a breakthrough year with record growth, a $500 million strategic investment, and increasing XRP momentum. This underscores the rapid ascent of crypto as a driving force in global finance.

Source: KLEA News