TLDR Crypto 2026-11-13

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The SEC filed an amicus brief backing the CFTC after the Capital Markets Alliance, whose members include Cboe and Citadel Securities, sued to overturn the CFTC's approval of equity perps, claiming it violated the Administrative Procedure Act and that the products belong under SEC jurisdiction. The SEC rejected the picture of a “rogue” CFTC and absent SEC, saying CFTC rule changes are subject to its review and the agencies collaborate often.

Tron, Tether, and Chainalysis have partnered to launch a “Digital Crime Task Force” to identify and disrupt illicit activity involving USDT on Tron, shortening the gap between detection and enforcement by gathering intelligence and working with law enforcement to freeze assets sooner. It replaces the 2024 T3 Financial Crime Unit with TRM Labs, which Bloomberg reported was disbanded over slow response and poor coordination. Chainalysis says AI-enabled scams were 4.5 times more profitable than conventional ones in 2025, with impersonation scams up more than 1,400%. Tether's CEO says it has frozen over $7B tied to illicit activity with 360+ law enforcement agencies in 73 countries. Targets include scams, hacks, terrorist financing, and North Korean attacks.

The market-neutral fund for qualified and professional investors opened November 2 and targets 8-10% net annual returns paid in ETH. It combines native staking with options premiums, cross-venue arbitrage, and derivatives carry, with gains and losses realized in ETH. Average staking yields fell to 2.63% by the end of September, with 43.8M ETH, nearly 36% of supply, staked.

Agentic Works is an open research initiative that publishes AI agent experiments built on Circle's USDC infrastructure. Published experiments range from eight fully autonomous agents making live football match predictions from individual USDC wallets (AW-001) to a human-approved workflow where an agent moved USDC between Arc and Hyperliquid to open and close a $10 BTC position (AW-003). Additional experiments cover an agent self-provisioning a persistent Circle Agent Wallet with no integration work across sessions (AW-002) and USDC transfers sent directly from iMessage (AW-004). Circle ships installable developer skills and open-source starter kits alongside the initiative, though all published work is experimental and not production-ready.

Treasures Swap is a DEX aggregator for tokenized equities that compares pricing across issuers, including Ondo, Dinari, and Backed, on multiple chains. The protocol routes orders to maximize tokenized stock received per USDC, applying the same aggregation model used by 1inch and 0x to the RWA equity vertical. Users connect self-custody wallets directly, removing custodian dependencies. The launch addresses fragmentation in the tokenized stock market, where the same equity may be issued by multiple protocols at varying prices across different chains.

An ethresear.ch opinion post argues Ethereum should replace its fixed slot time, gas limits, and pipeline depth with measurement-driven elastic parameters, drawing an analogy to TCP congestion control's adaptive window mechanism, which scales the same protocol across four orders of magnitude of link speed. Xatu telemetry from 233 instrumented nodes over 100,548 mainnet blocks (October 27–November 9) shows median propagation reaches 95% of nodes in 0.38s, but late-head rates range from 1.7% on company nodes to 11.0% on individual contributor nodes, and 250–260 KiB blocks take 0.61s versus 0.34s for 50–60 KiB blocks. The author maps Ethereum's mempool to TCP's send buffer and orphaned blocks to packet loss, identifying slot time (EIP-7782, EIP-8198), gas-limit votes, and parallel pipelining via Rapidblocks as adaptive knobs, with EIP-8288 mempool aggregation as an elastic interval candidate.

Nomura Holdings is exploring a sale of Laser Digital, its institutional crypto subsidiary, with Marex Group among prospective buyers evaluating a deal, though Nomura may ultimately retain the business. Losses at Laser Digital from crypto market volatility pushed Nomura's European operations into a quarterly loss, prompting management to tighten risk controls across the unit. Founded in 2022, Laser Digital covers institutional crypto trading, asset management, and venture investment, and recently secured a Japanese crypto exchange license alongside conditional approval for a US national trust bank charter. The potential divestiture illustrates the P&L exposure TradFi firms absorb when a crypto subsidiary's drawdowns roll up into the parent's segment results, while Laser Digital's regulatory footprint increases its value to any prospective acquirer.

Lighter, an onchain order-book perps exchange, has launched Guilds, a social layer that lets traders form groups, compete in team-based Duels, and climb community leaderboards. The feature follows perp DEXs like Hyperliquid in stacking gamification onto trading infrastructure to drive retention and community growth.

Polymarket reportedly confirmed to FOX Business on November 11 that the termination email circulating on X since November 4 was real and that it let go of contractors and some full-time staff.

Rain's Agent Vaults lets developers embed white-label AI agent spending accounts into their own apps, retaining brand ownership and customer economics.

Backpack signed a partnership with Minna Bank, a digital bank under regional group FFG, to use Backpack's onchain infrastructure to explore crypto-linked digital banking services in Japan.

Zcash co-founders propose removing 50,000 ZEC, 55% of the grants treasury's holdings, and returning the value through future mining rewards, with community voting opening on November 16