JPYC CEO Says Japan Bank Outages Will Boost Yen Stablecoin Demand
JPYC Inc. CEO Noritaka Okabe argues that as Japanese banks face more service disruptions, demand for the regulated yen-pegged stablecoin JPYC will climb. His remarks came shortly after GMO Aozora Net Bank suspended part of its banking API services after detecting unauthorized communications, following a major cybersecurity incident at parent GMO Internet Group last month involving ransomware demands. JPYC registered as a funds transfer service provider with Japanese authorities in October 2025. The push reflects growing interest in stablecoin alternatives as traditional banking infrastructure shows strain.
Korean Opposition Lawmaker Calls for Scrapping Crypto Income Tax Entirely
South Korean opposition lawmaker Song Eon-seok says the country should abolish its planned crypto income tax rather than merely delaying it by two years. He argues that taxing crypto gains while exempting domestic stock gains would create confusion and burden investors, especially given the difficulty of identifying overseas transaction data and original purchase prices. Korea had planned to impose a 22% tax on crypto asset gains starting January 1, 2027, but the government and ruling party earlier this month proposed pushing it to 2029 — which would mark the fourth postponement of the crypto tax plan.
Anthropic Targets $3–3.5 Billion from Japanese Investors in IPO Push
Anthropic has formally added the Japanese market to its funding plan as its IPO roadshow begins, seeking $3 billion to $3.5 billion from Japanese investors. Filings with Japan's Ministry of Finance show the AI company plans to sell 38.5 million to 50 million shares to Japanese buyers at a reference price of $70 to $78 per share. Anthropic disclosed an IPO plan to sell shares worth up to $64.4 billion in total, implying a valuation of roughly $1 trillion based on outstanding shares, or about $1.4 trillion on a fully diluted basis.
Baidu Releases ERNIE 5.5 Flash Preview, Weights to Be Open-Sourced by Nov 25
Baidu's Wenxin large model team has released ERNIE 5.5 Flash Preview, the first post-trained version built on its previously released Base model. The model has 280 billion total parameters with 14 billion active parameters and supports 1 million token context, with competitive benchmark scores in programming, 3D modeling, knowledge work, and content creation while maintaining fast decoding speeds. The model API is already live on the Qianfan platform, with weights slated to be open-sourced before November 25.
Alibaba's Qwen Code 1.0 Merges Qoder Harness into Open-Source Release
Alibaba has launched Qwen Code 1.0, integrating the Harness capabilities refined in its Qoder coding agent into the Qwen Code framework and releasing them together as Qwen Code 1.0 Preview. The system starts with an in-process memory event bus and evolves toward distributed architecture, layering access, scheduling, and execution while separating inference orchestration from tool execution — what Alibaba describes as a "hand-brain separation" design. The release targets developers seeking an embeddable agent runtime foundation.
Qwen4-Max Preview Goes Live on Alibaba Token Plan
A new generation of Alibaba's Qwen large language model is set for release, with the Qwen4-Max preview version debuting on the Alibaba Token Plan. The new model has already been integrated into Qwen Office, Qoder, the Qwen app, and QwenStudio. Alibaba has been aggressively iterating its open-weight model family, with the Qwen series targeting developers and enterprises across China and international markets.
Tron Inc. Reports Q3 Net Profit of $14.9 Million, Up 22% Year-on-Year
Tron Inc., the Nasdaq-listed TRX treasury company, posted third-quarter net profit of $14.9 million, up about 22% from $12.2 million a year earlier. Net profit for the first three quarters reached $39.4 million, up roughly 203% year-on-year. Digital asset investments grew to $257.8 million as of September 30, with total assets of $275.2 million. Third-quarter staking revenue climbed about 41% to roughly $3.18 million, and the company was elected one of TRON network's 27 super representatives in October.
TON Strategy Swings to $24 Million Quarterly Loss on GRAM Price Decline
Nasdaq-listed TON Strategy reported third-quarter revenue of $13.1 million, primarily from GRAM staking rewards, down from $15 million in the prior quarter as GRAM prices weakened. The company swung to a net loss of approximately $24 million, driven by $27.2 million in unrealized losses on its GRAM holdings. As of September 30, TON Strategy held about 235.1 million GRAM, with roughly 232.9 million staked, digital asset fair value of about $348.5 million, and annualized staking yield around 16%. The company also repurchased about 1.8 million shares for roughly $5.7 million during the quarter.
China's Shandong Police Bust Extortion Ring Using Crypto to Launder Funds
Police in Dezhou, Shandong province have dismantled a cross-province online extortion ring that posed as environmental inspectors and journalists, using drones to film livestock farms and posting negative videos to pressure farmers into paying for content removal. The gang collected payments through QR codes and third-party payment platforms, which then settled with money-laundering groups via virtual currency. Authorities say the group committed 268 offenses across 22 cities in five provinces — Shandong, Henan, Hebei, Jiangsu, and Anhui — over two months, involving more than 800,000 yuan (about $114,000). A total of 23 people were arrested, with over 2 million yuan in assets seized or frozen.
Sui Ecosystem Hardware Wallet Project Suiball Shuts Down and Refunds Users
Suiball, a hardware wallet project built for the Sui ecosystem, is shutting down and refunding user pre-orders after the Sui Foundation determined that hardware wallet support was too risky following a spate of recent hardware wallet attacks in the industry. The device had completed development and entered manufacturing, with initial shipments planned. Roughly 80% of pre-orders were made on-chain and will be refunded via USDC airdropped to soulbound pre-order NFT holders within a week; credit card purchasers will provide Sui wallet addresses for a second airdrop round. The project will officially close once all refunds are complete.
Machibigbrother Loses on 31 Bored Ape Sales as NFT Market Stays Weak
Celebrity trader Machibigbrother — known in the crypto community as Jeff Huang — sold 31 Bored Ape Yacht Club NFTs over the past week for 231 ETH (about $506,000), but recorded losses across all transactions. His remaining holdings have shrunk to just 75 Bored Apes. The sales reflect ongoing weakness in blue-chip NFT markets as traders continue to reduce exposure to the once-dominant PFP category.
Ownership Address Transfers 7,655 BTC Between Wallets in $566 Million Move
Whale Alert flagged a transfer of 7,655 BTC — valued at approximately $566 million at the time — between unknown wallets. The large on-chain movement comes amid a broader market slump that saw Bitcoin trading below $74,000 and ETH under $2,100. While the identity of the wallets remains unclear, the transaction highlights continued large-scale repositioning by major holders during the current drawdown. Further on-chain tracking has not yet linked these addresses to known exchange or institutional wallets.
