
Are you curious about the latest in the crypto world? Here’s a rundown of today’s key trends and events affecting Bitcoin prices, blockchain technology, DeFi, NFTs, Web3, and crypto regulations.
EU MiCA rules pose ‘systemic’ banking risks for stablecoins

According to Paulo Ardoino, Europe’s forthcoming regulatory framework may pose substantial challenges for stablecoin issuers, potentially affecting the stability of the broader cryptocurrency industry.
The Markets in Crypto-Assets Regulation (MiCA), the first extensive regulatory framework for the crypto sector, is scheduled to be fully implemented on December 30. Under MiCA, stablecoin issuers must maintain at least 60% of their reserve assets in European banks.
Ardoino, CEO of Tether—the issuer of USDt, the world’s largest stablecoin with a market capitalization exceeding $120 billion—warns that, given banks' capacity to loan out up to 90% of their reserves, this requirement may introduce “systemic risks” for stablecoin issuers.
B2C2 and OpenPayd Partner for Fiat Transactions in Crypto Trade Settlements
B2C2, an institutional liquidity provider for digital assets, has announced a partnership with OpenPayd to integrate its embedded finance tools into B2C2’s instant settlement network. The collaboration is designed to streamline fiat currency transactions for B2C2 clients' trade settlement processes.
B2C2, backed by Japan's SBI Holdings, offers institutional liquidity across diverse market conditions. OpenPayd, a Banking-as-a-Service (BaaS) platform, delivers global payment solutions to reduce barriers in traditional banking. Massimo Di Placido, Group CFO at B2C2, highlighted the need for “greater agility, speed, and 24/7 functionality” in today’s digital financial landscape—qualities often lacking in conventional banking models. He emphasized that partnering with OpenPayd allows B2C2 to “bridge the gap between traditional and digital markets,” enabling institutional clients to move fiat currencies as quickly and seamlessly as digital assets.
In addition to this partnership, B2C2 has bolstered its executive team by appointing Cactus Raazi as CEO of its U.S. division, headquartered in New Jersey. Raazi will report to Group CEO Thomas Restout, as reported by *Finance Magnates*.
OpenPayd’s integration also simplifies onboarding for B2C2’s clients, providing multi-currency accounts and instant third-party payments. Iana Dimitrova, CEO of OpenPayd, noted that B2C2’s commitment to a streamlined trade execution and settlement experience makes it a leader in the digital asset sector.
Arthur Hayes' Maelstrom Hedges U.S. Election Uncertainty With Staked USDe; Holds Large BTC, ETH Bullish Bets
With the U.S. election just a week away, financial markets are bracing for an event marked by "high uncertainty."
Arthur Hayes, Chief Investment Officer of the digital asset fund Maelstrom and co-founder of BitMEX, is managing election-related risk by holding Ethena Lab’s USDe stablecoin while also maintaining substantial bullish positions in Bitcoin (BTC), Ether (ETH), and other cryptocurrencies.
"Given the uncertainty, Maelstrom has allocated 5% of the fund to staked USDe (Ethena USD), which earns approximately 13%. We continue to hold large long positions in Bitcoin, Ether, and other tokens," Hayes stated in an email to CoinDesk.
Ethena’s USDe is a synthetic dollar that uses collateralized stablecoin and a hedged cash-and-carry arbitrage strategy to maintain its $1 price peg. Yield is generated through a funding fee from shorting perpetual futures linked to BTC and ETH as part of this arbitrage strategy. By staking USDe, investors acquire sUSDe, a reward-bearing token that provides access to protocol rewards.
Maelstrom’s investment in this delta-neutral product serves as a hedge against potential price volatility in the days surrounding the election on November 5 and the results expected on November 8.
Maelstrom, managed by the family office of Arthur Hayes, is an investment fund focused on digital assets. Its objective is to build a portfolio of infrastructure companies that will support the next wave of trustless decentralization. In addition to managing the fund, Hayes authors the influential monthly newsletter *Crypto Trader Digest*.
Hong Kong Stock Exchange to introduce price indices for Bitcoin and ether next month
Hong Kong Exchanges and Clearing Ltd. (HKEX) announced today its plans to launch a series of cryptocurrency price indexes designed to provide “a reliable benchmark for a fast-emerging asset class.”
The “HKEX Virtual Asset Index Series” will be introduced on November 15, offering a unified reference price for digital assets such as Bitcoin and Ether within the Asian time zone. The series will include separate reference indexes for Bitcoin and Ether and individual reference rates for each.
“We are pleased to launch the HKEX Virtual Asset Index Series to meet the region’s rising demand for this quickly growing asset class,” stated Bonnie Y Chan, CEO of HKEX. “By offering transparent and reliable real-time benchmarks, we aim to empower investors with the data they need to make informed decisions, which will support the virtual asset ecosystem and strengthen Hong Kong’s position as an international financial hub.”
HKEX explained that these indexes will use the 24-hour volume-weighted reference spot prices for Bitcoin and Ether, drawing data from leading cryptocurrency exchanges, denominating in U.S. dollars.
This index series will be managed by CCData, a UK-based benchmark administrator, and will adhere to EU benchmark regulations.
Bolivia continues crypto momentum as bank launches USDT custody
Crypto adoption is advancing in Bolivia as a prominent bank has introduced a custody service for the stablecoin Tether (USDt).
Banco Bisa, a major Bolivian bank, announced a new service allowing clients to buy, sell, and transfer USDt, facilitating the storage of digital assets, sending funds to family members, and making cross-border payments.

Yvette Espinoza of the Autoridad de Supervisión del Sistema Financiero (ASFI), Bolivia’s financial regulatory authority, endorsed this service, stating that it provides a secure environment for crypto transactions within the country’s regulatory framework. According to ASFI, this approach reduces risks associated with unregulated crypto interactions.
Franco Urquidi, Banco Bisa’s Vice President of Business, noted that the bank’s clients would be verified, ensuring their transactions are conducted safely and with “peace of mind.”
In 2014, Bolivia banned cryptocurrencies, prohibiting any currency not issued or regulated by the Bolivian government. This included Bitcoin, as the central bank aimed to protect the nation’s currency and citizens from potential losses associated with unregulated digital currencies.
However, in 2024, Bolivia began reversing its stance on digital assets. On June 28, the country lifted its ban on Bitcoin and crypto payments, enabling financial institutions to engage in digital asset transactions.
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