The crypto world changes fast, and it’s easy to fall behind. That’s why each week StealthEX and CryptoDaily point out the biggest things happening in the market. We look at the news that matters, the price moves everyone talks about, and the trends you should know. Just simple updates you can understand in a minute. Ready to jump into this week’s highlights? Let’s get started.
China’s Bitcoin mining scene is quietly growing again. The country banned the practice in 2021, but new data shows miners never fully left. Reports now point to China holding roughly 14% of global mining power as of late October, putting it back in third place worldwide. Cheap electricity is pulling miners back, along with a boom in local data centers that need constant energy use.
Hardware makers feel the shift, too. Canaan, one of the world’s biggest mining rig producers, has seen sales in China surge over the past two years. Company filings show a sharp jump in revenue from domestic buyers as mining becomes more attractive during Bitcoin’s price rise. Some distributors claim Chinese demand now accounts for more than half their quarterly totals.
Miners in regions like Xinjiang say the setup is simple. Power is cheap. Energy that cannot be exported gets consumed on-site, and mining offers a profitable use case. New projects are being built quietly, with operators choosing remote areas where electricity flows freely.
China has not officially changed its stance on mining or trading crypto. Yet activity on the ground tells a different story. Analysts estimate that 15% to 20% of global mining might already be happening inside the country. The line between enforcement and tolerance appears to be shifting.
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Vanguard has taken a major turn by allowing clients to trade cryptocurrency ETFs and mutual funds through its brokerage platform. The move surprised many long-time customers, as the firm spent years distancing itself from digital assets. Now it’s adjusting to growing interest from investors who want regulated access to crypto markets.
Leaders at the company say the change is practical. Crypto funds have shown they can handle sharp market swings while maintaining liquidity. Operations around these products matured, and internal systems can now support them without disruption. Investor preferences also shifted, pushing the firm to rethink its stance.
The rise of spot Bitcoin ETFs played a major role. These products gathered billions within months, proving that investors wanted simple exposure without managing wallets or private keys. BlackRock’s Bitcoin trust alone drew tens of billions, showing strong long-term appetite despite recent pullbacks.
Vanguard’s new CEO, Salim Ramji, is seen as a driving force behind the update. He supported blockchain initiatives in previous roles and is bringing a more modern approach to the firm’s strategy. Customers can now trade select funds linked to Bitcoin, Ethereum, XRP, and Solana as long as they meet regulatory standards.
Vanguard still avoids launching its own crypto products. It continues to block higher-risk tokens, especially those linked to speculative meme-driven assets. The company says the goal is simple: give investors access to tools they already want without straying from its core principles.
Tether is rapidly expanding its presence in the global commodities market. The company behind USDT has become the largest non-government holder of gold, a shift that shows how deeply it is tying its operations to traditional assets. Analysts say the move comes at a time when markets face constant uncertainty, and many investors seek stronger protection against volatility.
Research from Jefferies shows Tether controlled around 116 metric tons of gold at the end of Q3 2025. These reserves back its gold token, XAUT, but also reinforce the balance sheet supporting USDT. The company added more than 26 tons in the third quarter alone. That amount represented a notable share of global demand and even surpassed many central bank purchases during the same period.
Tether is not stopping at reserve accumulation. It has invested more than $300 million in mining royalty and streaming companies. It also hired experienced metals traders, signaling a long-term plan that goes beyond passive ownership. Analysts believe the company aims to secure supply, hedge risk, and strengthen its position across the metal sector.
Gold prices remain active. The metal trades around $4,190 per ounce. Market observers expect renewed interest as uncertainty rises. Tether appears to be preparing for that environment through deeper integration with the commodity space.
A major technical failure shut down CME Group’s electronic markets after a cooling system malfunction hit a key CyrusOne data center. The incident forced CME to halt trading on many of its most active futures contracts, including energy products, equities, foreign exchange, and interest-rate instruments. Quotes stopped updating without warning, leaving traders unable to place or adjust orders.
The disruption happened during a light post-holiday trading window. Liquidity was already thin, which made the sudden outage even more noticeable. Brokers worldwide saw frozen price feeds. Some desks switched to backup systems, while others suspended services entirely. Models struggled to fill pricing gaps, and spreads widened as firms attempted to manage risk.
CME dispatched teams to restore systems and later confirmed the cause as a cooling failure at the data center supplying infrastructure for its Globex platform. The exchange promised to provide pre-open timing once stability returned. Markets resumed under contingency rules, but many institutions monitored activity closely.
Large brokers also faced serious interruptions. Firms in Japan and Europe reported problems receiving updated futures data. Major benchmarks like WTI crude and the 10-year Treasury showed no fresh prices for hours. Analysts said outages of this scale are rare but not impossible in interconnected electronic markets.
The timing limited broader damage, yet the event reminded traders how dependent global markets are on a small number of data centers. Technical failures, even brief ones, can ripple through the world within seconds.
South Korean regulators are deepening their investigation into the recent attack on Upbit as signs increasingly point to the Lazarus Group. Officials see clear links between this breach and the 2019 incident that cost the exchange more than 340,000 ETH. Investigators say the techniques used in both cases share the same style and operational pattern.
Upbit halted deposits and withdrawals after detecting unusual activity involving Solana-based assets. The exchange first estimated losses at around 54 billion won. After further review, the figure was adjusted to about 44.5 billion won. The funds were taken from a hot wallet using what authorities believe were compromised administrator credentials.
A government official told local media that the attackers likely impersonated system admins rather than breaking directly into servers. This allowed them to authorize transfers without raising immediate alarms. Analysts say this is a known method used by Lazarus, reinforcing suspicions about its involvement.
Blockchain trackers noticed the stolen assets moving quickly. The attackers swapped Solana for USDC and bridged funds to Ethereum before dispersing them through several wallets. The laundering pattern, including mixing tools, closely resembles previous North Korea-linked operations.
The timing raised eyebrows. The hack occurred the same day Dunamu, Upbit’s parent company, confirmed a major merger with Naver Financial. Some experts believe the date was chosen deliberately to attract attention. Investigators continue to follow the on-chain trail as Upbit works to restore full operations.
The FDIC is preparing to release its first major rule proposals for stablecoins under the GENIUS Act. Acting Chairman Travis Hill outlined the timeline in remarks submitted ahead of a congressional hearing. The agency plans to introduce an application framework before the end of December, followed by prudential standards early next year.
The upcoming application framework will explain how stablecoin issuers can seek federal supervision. It will outline the documents, reviews, and requirements needed to enter the regulated system. This step aims to formalize how payment-focused stablecoins gain recognition under U.S. law.
The second proposal will focus on operational rules for issuers. These include capital levels, liquidity expectations, and risk controls. The goal is to ensure that supervised stablecoin operators can handle market stress, protect reserves, and maintain consistent redemption processes.
Final rules are not expected until late 2025, as both proposals will be open for public comment. The FDIC says the framework is designed to protect consumers while giving the industry clearer guidance.
Stablecoin issuers like USDC and USDT will need to decide whether to seek recognition under the new structure. Exchanges listing stablecoins may also face adjustments as regulated tokens gain priority. The GENIUS Act does not grant deposit insurance, but it places issuers in a stricter oversight environment that resembles traditional finance.
This article is not supposed to provide financial advice. Digital assets are risky. Be sure to do your own research and consult your financial advisor before investing.
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