According to Bloomberg, the Chicago Board Options Exchange (CBOE) will launch Bitcoin and Ethereum continuous futures contracts on December 15, according to Odaily Planet Daily.

According to data from Coinglass, as reported by Odaily Planet Daily, $230 million in positions were liquidated across the network in the past hour, including $211 million in long positions and $19.55 million in short positions.

It's worth noting that the largest single liquidation order in the past 24 hours occurred on the Hyperliquid platform, a BTC-USD trade worth a staggering $96.5116 million. This data indicates that the market experienced significant volatility in a short period, resulting in a major impact on long positions. (Coinglass)

Odaily Planet Daily reports that Ethena Labs recently proposed a new mechanism to support orderly market liquidity and stability by buying back and burning USDe when its price in the secondary market falls significantly below its pegged value. This proposal is a risk management response to the incident on October 10th on the Binance exchange where the price of USDe briefly and severely de-pegged to $0.65.

Core Mechanism

Buyback conditions: Only activated in the event of "severe market dislocations", with an initial price threshold set at USDe price trading at $0.99 or lower.

Funding Source: Buyback using stablecoins (such as USDT) available in USDe's existing reserves.

Funding Amount: It is proposed to use 1.2% of the total USDe reserve assets, which is approximately US$95 million based on the current USDe supply.

Operation method: The buyback will be executed by placing a buy order in the order book of a centralized exchange (CEX), using an off-chain solution, without depositing the reserve assets directly into the exchange.

Instant Burn: Purchased USDe will be burned immediately.

Agreement benefits

The net effect of this mechanism will be:

Increase collateral ratio: Buying USDe for less than $1 allows you to capture price differences, increase protocol reserves, and thus increase the collateral ratio of USDe.

Reduce supply: Destroy USDe to reduce its circulating supply.

Price Support: Provides direct buying support in the secondary market when the market is under pressure, stabilizing the USDe price.

Dealing with Gas Fees: Ethena can use the captured price spreads to cover high gas fees, ensuring arbitrage operations can continue even during network congestion, which is one of the reasons why market makers were restricted on October 10.

Background Review

During the market volatility of October 10th, although Ethena's core minting/redemption functions operated normally and processed over $2 billion in instant redemptions within 24 hours, the USDe/USDT spot price on Binance experienced significant de-pegging due to Binance's lack of direct USDe minting/redemption integration and traders encountering deposit and withdrawal issues on CEXs. This proposal aims to proactively intervene in the secondary market to avoid the **cyclical loop of USDe liquidations** effect caused by similar events and generate net benefits for the protocol.

The risk committee members have received this proposal and will provide further advice. (Ethena Labs Research)

According to data from msx.com, at the opening of the US stock market, the Dow Jones Industrial Average fell 0.23%, the S&P 500 fell 0.38%, and the Nasdaq fell 0.48%. The crypto sector was generally down, with Coinbase down 3.45%, BitMine down 1.42%, and SharpLink down 2.11%.

It is understood that msx.com is a decentralized RWA trading platform that has listed hundreds of RWA tokens, covering US stock and ETF tokens such as AAPL, AMZN, GOOGL, META, MSFT, NFLX, and NVDA.

According to data from SoSoValue, as of November 17, 2025 (Eastern Time), the total net purchase of Bitcoin by global listed companies (excluding mining companies) last week was $847.64 million.

Strategy (formerly MicroStrategy) invested $835.6 million last week to acquire 8,178 bitcoins at a price of $102,171, bringing its total holdings to 649,870 bitcoins.

Metaplanet, a Japanese listed company, did not purchase any Bitcoin last week.

In addition, two other companies purchased Bitcoin last week. Japanese fashion company ANAP bought Bitcoin twice last week, acquiring 3.3996 Bitcoins at $108,510 and 10.8304 Bitcoins at $110,587.6, bringing its total holdings to 1,125.3 Bitcoins. Hong Kong-based genetic testing and health technology company Prenetics invested US$10.57 million this week to purchase 106 Bitcoins, bringing its total holdings to 493.4 Bitcoins.

Bitcoin ecosystem company Metador Technologies has completed its first convertible bond financing, raising a total of $10.5 million to increase its Bitcoin holdings.

As of press time, the total number of Bitcoins held by listed companies worldwide (excluding mining companies) is 893,370, with a current market value of approximately US$83.94 billion, accounting for 4.48% of the circulating market capitalization of Bitcoin.

According to Hyperbot data, as reported by Odaily Planet Daily, "Brother Machi" continues to increase his long position in ETH, with a current holding of 4,500 ETH in perpetual contracts, valued at approximately $14 million, and leveraged at 25x. The average entry price was $3,086.23, the liquidation price was $3,101, and the current mark price is $3,105.

According to an official announcement, OKX will soon launch Horizen (ZEN). The specific schedule is as follows:

1. ZEN deposits will open on November 17, 2025 at 21:00 (UTC+8).

2. ZEN pre-order period: November 18, 2025, 13:00 to 14:00 (UTC+8)

3. ZEN/USDT spot trading opening time: 14:00 on November 18, 2025 (UTC+8)

4. ZEN withdrawals will open on November 18, 2025 at 16:00 (UTC+8).

According to Odaily Planet Daily, Strategy has executed another major acquisition of Bitcoin, purchasing 8,178 bitcoins for approximately $835.6 million, at an average price of approximately $102,171 per bitcoin. As of November 16, Strategy now holds a total of 649,870 bitcoins, acquired for approximately $48.37 billion, with an average cost of approximately $74,433 per bitcoin.

Odaily Planet Daily reports that crypto lending service Aave will launch an app on the Apple App Store offering consumers high-yield returns.

According to Odaily Planet Daily, the Canada Pension Plan Investment Board (CPP), owned by the Canadian government, has just purchased 393,322 shares (worth $80 million) of Strategy $MSTR.

Odaily Planet Daily reports that CoinMarketCap announced the launch of CMC20, the first DeFi-native tradable crypto index token, on its X platform. Based on the BNB Chain, this token aims to provide diversified investment across the top 20 crypto assets. CMC20 was developed in partnership with Reserve Protocol and deployed by Lista DAO, and is now available on PancakeSwap and Trust Wallet.