The crypto market saw no shortage of drama this week. From a surprise chain split on Cardano to a nearly impossible Bitcoin mining win and a major sanctions crackdown in the UK, here are the top stories you need to know.
🔵 Cardano Hit by Chain Split After Malformed Transaction
Cardano’s network experienced an unexpected chain split triggered by a malformed delegation transaction that exploited a software flaw.
- Newer node versions accepted the faulty transaction
- Older versions rejected it, causing the network to diverge
- ADA price dipped following the incident
- The user responsible publicly apologized
Governance group Intersect confirmed the issue and said work is underway to prevent similar mismatches.
🟠 Solo Miner Defies Odds, Mines $265K Bitcoin Block With Just 6 TH/s
In an astonishing stroke of luck, a solo miner using only 6 terahashes per second a fraction of modern mining power successfully mined a full Bitcoin block on Friday.
He earned:
- 3.146 BTC block reward
- Additional fees, totaling nearly $265,000
To put this in perspective: most mining operations run in exahashes, making this event a statistical miracle.
🇬🇧 UK Sanctions Operation Hits 128 Arrests, Seizes $32.6M
Operation Destabilise, the UK’s multi-agency crackdown on Russian sanctions evasion, has reached:
- 128 arrests
- $32.6 million seized in cash and crypto
The operation continues to widen after reporting 84 arrests and $25.5M seized in December 2024.
🟡 Coinbase Buys Meme-Coin Trading App Vector
Coinbase has acquired Vector, a social meme-coin trading platform specializing in community-driven token markets.
Vector’s tech will be absorbed into Coinbase’s DEX trading features, signaling the exchange’s deepening interest in retail-driven token trading.
📈 Kalshi Valuation Explodes to $11 Billion
Prediction market platform Kalshi has reportedly raised $1 billion in an undisclosed funding round, boosting its valuation to $11 billion.
This comes just weeks after its prior round:
- October: $300M raised at a $5B valuation
- Now: valuation more than doubles
Kalshi is quickly positioning itself as a major player in regulated real-money markets.
🏢 Metaplanet Introduces “Mars” and “Mercury” Preference Shares
Japan’s largest corporate Bitcoin holder, Metaplanet, is restructuring its capital with two new preference share classes:
- Mars shares
- Mercury shares
These will serve as new funding tools while maintaining dividend payouts, according to filings.
🐶 Leveraged Dogecoin ETF Goes Live on Nasdaq
21Shares has launched the 2X Long Dogecoin ETF (TXXD), offering twice DOGE’s daily performance, minus fees.
This marks another major step toward meme coins entering traditional financial products.
⚖️ Samourai Wallet Co-Founder Sentenced to Prison
William Lonergan Hill, co-founder of Samourai Wallet, received:
- 4 years imprisonment
- 3 years supervised release
- $250,000 fine
Advocates argue the case may set a worrying precedent for software developers building privacy-preserving tools.
🏨 Saudi Developer Plans Tokenized Trump-Branded Hotel
Dar Global aims to tokenize up to 70% of the financing for its upcoming Trump-branded Maldives luxury resort.
The blockchain-based tokenization model will target U.S. retail investors.
🟢 Kraken Raises $800M Ahead of 2026 Public Listing
Crypto exchange Kraken completed an $800 million funding round, led by:
- Jane Street
- DRW Venture Capital
- Oppenheimer
- Tribe Capital
- HSG
Co-CEO Arjun Sethi’s family office also participated, giving Kraken strong momentum heading into its planned 2026 IPO.
🟣 Revolut Adds Polygon for Crypto Payments
Fintech giant Revolut has integrated the Polygon (POL) network to power:
- Crypto remittances
- Stablecoin payments
Since December, transactions via Polygon have already topped $690 million.
📉 DappRadar to Shut Down After Financial Struggles
Analytics platform DappRadar announced it will shut down due to financial unsustainability, despite being a pivotal tool for:
- NFT market tracking
- DeFi analytics
- On-chain activity insights across multiple blockchains
The team stated all alternatives were explored before making the decision.
🟠 Strategy Adds 8,178 BTC, Now Holds 649,870 Bitcoin
The treasury firm acquired 8,178 BTC for $835.6M, raising its total holdings to:
- 649,870 BTC
- Purchased at an average price of $74,433
Year-to-date yield: 27.8% through Nov. 16.
