Weekly Preview | The UK Supreme Court holds a hearing on the disposal of 60,000 Bitcoins in the case of Qian Zhimin; Ethereum Devconnect opens.

News Preview:

• Coinbase has launched an end-to-end token sales platform and will hold its first public sale of Monad tokens from November 17 to 22;
• The UK High Court will hold another hearing on November 17 regarding the disposal of 60,000 bitcoins in the case of Qian Zhimin;
• Ethereum Devconnect will be held on November 17 in Buenos Aires, Argentina;
• The American Accounting Standards Board will discuss on November 19 whether to add an accounting treatment item for “cryptocurrency transfers”;
• OKX will delist the spot trading pairs BAL, PERP, FLM, DEP, NC, and LOOKS from November 19 to 22;
• The Federal Reserve will release the minutes of its monetary policy meeting at 3 AM Beijing time on November 20.

November 17

Policy Regulation:

The UK High Court will hold another hearing on November 17 regarding the disposal of 60,000 Bitcoins in the case of Qian Zhimin.

According to Caixin, the main suspect in the laundering case involving 60,000 Bitcoins, Qian Zhimin, purchased Bitcoin at an average price of 2815 yuan per coin (, with the statistical caliber unknown ). By the time of her sentencing in the UK, the price of Bitcoin had inflated 266 times to 750,000 yuan per coin. Regarding the disposal of the assets involved that have been frozen in the UK, the UK side has not yet made substantial progress towards returning or sharing them with Chinese authorities. The Tianjin Public Security Bureau’s Hedong Branch, which is investigating the Lantian Ge Rui case, also announced on October 30 that the public security organs are still continuing to carry out cross-border cooperation with UK law enforcement agencies to pursue fugitives and recover stolen funds, making every effort to recover losses for the investors involved. On November 17, 2025, the UK High Court will hold another hearing on the disposal of the 60,000 Bitcoins.

Exchange:

Coinbase: The Monad token sale will commence on November 17

Coinbase announced the launch of an end-to-end token sale platform and will hold its first public sale (Monad token) from November 17 to 22. The platform employs a “bottom-up” allocation algorithm, prioritizing small requests and limiting the concentration of large holders; it sets a one-week request window, after which allocations will be determined uniformly; users who sell quickly within 30 days will have their quotas reduced in subsequent sales. Issuers and related parties are prohibited from OTC and secondary market sales for six months, with any exceptions requiring Coinbase's approval and locking until six months later. There are no fees for user participation, and issuers raise funds and pay proportional fees in USDC. U.S. retail users are participating widely for the first time since 2018.

Project Updates:

Acurast plans to launch its mainnet and issue the ACU token on November 17th

Acurast announced a financing of $11 million and plans to launch its mainnet on November 17 while simultaneously issuing the ACU token. The project claims to achieve verifiable, confidential, and tamper-proof computing on consumer-grade smartphones, and to prove that only manufacturer-certified devices are allowed access through hardware keys. Its network data shows that nearly 150,000 phones have joined, processing approximately 494 million transactions and deploying around 94,200 services. Investors include Ethereum co-founder and Polkadot founder Gavin Wood, among others. In response to security concerns, the project stated that devices without valid certification cannot obtain effective and credible proof, and thus are denied access.

Cango will transition to a direct listing on the NYSE on November 17

Bitcoin mining company Cango announced plans to transition to a direct listing on the New York Stock Exchange on November 17, 2025. Previously, Cango went public in the United States for the first time in July 2018 via an IPO, using the ADR (American Depositary Receipt) format. Cango stated that it will prioritize optimizing its Bitcoin mining operations to improve uptime and operational energy efficiency. The company is also actively seeking to enter the field of high-performance computing in artificial intelligence.

YouTube will strengthen enforcement against gambling and violent content related to digital goods and NFTs starting from November 17.

The YouTube support page shows that starting from November 17, the platform will expand its enforcement scope regarding “online gambling” related content, including digital items with monetary value (such as game skins, props, NFTs) under its control; content related to “social casinos” will be uniformly restricted to 18+; there will be new age restrictions for game content that features realistic characters, highlights and continuously showcases torture or large-scale violence against non-combatants. Previously uploaded videos that violate these rules but were uploaded before the aforementioned date will either be removed or age-restricted, but will not count as warnings.

Community Activities:

Ethereum Devconnect will be held on November 17 in Buenos Aires, Argentina

The Ethereum Foundation announced on its official blog that the next Devconnect will be held in Buenos Aires, Argentina from November 17 to 22, 2025.

Token Unlock:

ZKsync (ZK) will unlock approximately 173 million tokens at 4 PM Beijing time on November 17, which is 3.37% of the current circulating supply, valued at around 9 million USD.

ApeCoin (APE) will unlock approximately 15.6 million tokens at 8:30 PM Beijing time on November 17, which is 1.66% of the current circulating supply, valued at about 5.5 million USD.

November 18

Exchange:

Binance Alpha plans to launch Datagram Network (DGRAM) on November 18

Binance announced that Binance Alpha plans to launch Datagram Network (DGRAM) on November 18. Eligible users can go to the Alpha Events page to claim the airdrop using Binance Alpha points after trading opens. More details will be announced soon.

Project Updates:

WLFI Treasury Company Alt5 Sigma will release its financial report on November 18

The CEO of the publicly listed company ALT5 Sigma, Peter Tassiopoulos, who adopted the WLFI financial strategy, has been suspended by the board and removed from his paid position. Jonathan Hugh has been appointed as interim CEO, effective immediately. This management change comes as the company's stock price has fallen nearly 20% over the past week, with InvestingPro data showing that the company's stock is down 83% from its 52-week high of $10.95. The company’s next financial report is scheduled to be released on November 18.

November 19

Policy Regulation:

The American Accounting Standards Board will discuss whether to add an accounting treatment project for “cryptocurrency transfers” on November 19.

The Financial Accounting Standards Board (FASB) will hold a meeting on November 19 to discuss whether to establish relevant standards for how companies should report cryptocurrency transfer transactions in their financial statements. The board plans to focus on whether to add a project related to the accounting treatment of crypto asset transfers to its technical agenda. At that time, the board will discuss various possible implementation paths, including expanding the scope of the standards released in 2023, clarifying the guidance for the termination recognition of crypto asset transfers, or taking both measures simultaneously. It is worth mentioning that this meeting comes just weeks after FASB added a technical project regarding the classification of stablecoins.

The Central Bank of Brazil will discuss the topic of Bitcoin reserves at the Central Bank's autumn meeting from November 19 to 21.

The Central Bank of Brazil (BCB) will send six officials to participate in the Central Bank Autumn Meeting held in Rio de Janeiro from November 19 to 21, 2025. One of the topics planned for discussion at the meeting is the cryptocurrencies and Bitcoin reserves held by the central bank, as well as Central Bank Digital Currency (CBDC). The Central Bank of Brazil is discussing the creation of the Drex digital currency in the country, which aims to complement the Pix digital currency.

Exchange:

Binance will delist the RUNEUSD Coin-Margined Perpetual Contract on November 19

Binance contracts will automatically liquidate the RUNEUSD coin-margined perpetual contract on November 19, 2025, at 17:00 (UTC+8), and the aforementioned perpetual contract trading pair will be delisted after the liquidation.

Binance will stop supporting the deposit of Galxe (GAL) tokens on the Ethereum network (ERC20) on November 19

Binance will stop supporting the deposit of Galxe (GAL) tokens on the Ethereum network (ERC20) on November 19, 2025, at 11:00 (UTC+8). After this time, Galxe (GAL) tokens deposited via the Ethereum network (ERC20) will not be credited to users' accounts, which may result in asset loss.

OKX will delist the BAL, PERP, FLM, DEP, NC, and LOOKS spot trading pairs from November 19 to 22

OKX announced that it will delist the spot trading pairs BAL, PERP, FLM, DEP, NC, LOOKS from November 19 to November 22. Previously, OKX had suspended the deposit operations for the above-mentioned tokens on November 12, 2025, at 4:00 (UTC+8).

Token Unlock:

YZY (YZY) will unlock approximately 37.5 million tokens at 1:00 PM Beijing time on November 19, accounting for 12.50% of the current circulating supply, valued at approximately $14.1 million.

November 20

Policy Regulation:

The Federal Reserve will release the minutes of its monetary policy meeting at 3 a.m. Beijing time.

Project Updates:

Phala Network: The Polkadot parachain slot will expire on November 20 and will be migrated to Ethereum L2

Decentralized off-chain computing infrastructure Phala Network stated that due to the expiration of Phala's Polkadot parachain slot on November 20, 2025, a proposal has been submitted to terminate the parachain and fully migrate to Ethereum L2, in line with Intel's roadmap (TDX + GPU confidential computing) and the broader EVM ecosystem.

Capx AI airdrop claim window will last until November 20

The AI project Capx AI has released an airdrop update, stating that the TGE will go live on November 4th. However, due to technical issues on the Uniswap front end, the airdrop claim has been temporarily delayed, which is unrelated to the contract or tokens, and all funds are 100% secure. The Uniswap team eventually confirmed that the exact reason was part of a broader indexing limitation concerning Arbitrum's native USDC. Capx AI updated that the airdrop claim window will open on November 7th at 11:00 and close on November 20th at 7:59.

Token Unlock:

LayerZero (ZRO) will unlock approximately 25.71 million tokens at 7 PM Beijing time on November 20, which is 7.29% of the current circulating supply, worth about $38.3 million.

KAITO (KAITO) will unlock approximately 8.35 million tokens at 8 PM Beijing time on November 20, which accounts for 2.97% of the current circulating supply, valued at approximately 6.4 million USD.

November 21

Not available

November 22

Not available

November 23

Not available