[A16z Suggests U.S. Treasury Exclude Decentralized Stablecoins from GENIUS Act Regulations] A16z Crypto has sent a letter to U.S. Treasury Secretary Scott Bessent, recommending that the Treasury explicitly define stablecoins in its regulatory guidelines and exclude decentralized stablecoins from the regulatory scope of the GENIUS Act. A16z pointed out that decentralized stablecoins like Ethereum-collateralized LUSD, which are issued through autonomous smart contracts without centralized entity control, should not be considered as issued by an 'individual.' They suggest referencing the decentralization determination framework outlined in the 2025 Digital Asset Market Structure Clarity Act. Additionally, A16z called for the modernization of anti-money laundering (AML) and KYC rules while avoiding stifling innovation. Regulatory head Michele Korver stated that decentralized digital identities, combined with zero-knowledge proofs and multi-party computation technologies, can protect privacy and enhance national security.

[OKX to Delist BAL, PERP, and Other Spot Trading Pairs] OKX has announced the delisting of spot trading pairs related to BAL, PERP, FLM, DEP, NC, and LOOKS. The specific delisting schedule is as follows: - BAL/USDⓈ, PERP/USDⓈ, FLM/USDⓈ, DEP/USDⓈ, NC/USDⓈ, LOOKS/USDⓈ: November 19, 2025, 16:00-18:00 (UTC+8) - BAL/USDT, PERP/USDT, FLM/USDT, DEP/USDT, NC/USDT, LOOKS/USDT: November 22, 2025, 16:00-18:00 (UTC+8) Deposits for the related tokens were suspended on November 12, 2025, at 16:00 (UTC+8), and withdrawals will cease on February 12, 2026, at 16:00 (UTC+8). Users are advised to manage their assets and cancel orders in advance to avoid automatic order cancellations by the system.

[Visa Launches Stablecoin Payment Pilot, Supporting Instant Cross-Border Settlements with USDC] Visa has announced the launch of a stablecoin payment pilot program, allowing creators, freelancers, and businesses to receive payments in USDC issued by Circle via Visa Direct, enabling instant cross-border settlements. During the pilot phase, businesses in the U.S. can make payments in fiat currency, while recipients can choose to directly receive USDC, with funds arriving in almost minutes. Recipients must have a stablecoin wallet that meets Visa standards and pass KYC/AML verification. Currently, only USDC is supported, with plans to expand to more partners by the second half of 2026. Since 2020, Visa has facilitated over $140 billion in crypto and stablecoin transactions and launched more than 130 card programs linked to stablecoins.

[Bitunix Analyst: Cooling AI Investment May Affect Capital Flows in the Crypto Market] On November 12, Michael Burry, the prototype of 'The Big Short,' and legendary short-seller Jim Chanos warned that the AI investment frenzy might be entering the late bubble stage. They pointed out that the massive capital expenditures by mega-cap tech companies on AI servers and chips could lead to depreciation pressures and issues of overestimated profitability. A Goldman Sachs report suggests that the current AI trading trend may replay the turning point of the 1990s boom. Bitunix analysts believe that the cooling of the AI craze could drive capital from overvalued tech giants to crypto assets, though an overall contraction in risk appetite might lead to short-term volatility. BTC is operating within the $102,000 to $108,000 range, and the crypto market may attract both hedging and speculative liquidity.

[Morgan Stanley Strategist Says Bitcoin Enters 'Autumn Phase' of Four-Year Cycle] Morgan Stanley strategist Denny Galindo stated that the crypto market has entered the 'autumn phase' of Bitcoin's four-year cycle and advised investors to lock in profits before a possible 'winter' arrives. Galindo pointed out that Bitcoin's price cycle follows a stable rhythm of 'three rises and one fall,' emphasizing that the current period is a 'harvest season.' Investors should consider taking profits early to prepare for a potential crypto winter.