Huoxun Finance reported on November 27th that, according to DLNews, South Korean financial regulators have urged Bithumb to suspend its Tether (USDT) market service, which allows customers to buy and sell Bitcoin and nine high-market-cap altcoins using USDT. Bithumb stated that the service is still in the testing phase and that it has reached an order book sharing agreement with Australian cryptocurrency exchange Stellar. Due to system maintenance, Bithumb plans to shut down the service on November 28th and restructure to "provide a more stable and advanced trading environment," adding that it will announce the reopening date separately. Some analysts believe this move may stem from regulators' distrust of the exchange's ability to fulfill anti-money laundering obligations, potentially leading to the termination of order book sharing with international partners. Sources revealed that the crypto industry generally believes that after two months of intensive investigation and pressure from financial regulators, Bithumb has effectively abandoned the service. Shortly after Bithumb launched its USDT market service, the Financial Intelligence Unit (FIU) summoned the exchange's CEO, expressing concerns that the service would expose domestic customers to personal data breaches and money laundering risks. According to South Korean media outlet Newsis, Bithumb also underwent an additional on-site inspection by the FIU regarding its order book.

Huoxun Finance News, November 27th - South Korean cryptocurrency exchange Upbit announced that it has suspended deposit and withdrawal services and is conducting a comprehensive review process. Around 04:42 local time on November 27th, 2025, Upbit confirmed that 54 billion Korean won (approximately US$36.81 million) of Solana network-related assets were transferred to an unknown external wallet. The digital assets involved include 2Z, ACS, BONK, DOOD, DRIFT, HUMA, IO, JTO, JUP, LAYER, ME, MEW, MOODENG, ORCA, PENGU, PYTH, RAY, RENDER, SOL, SONIC, SOON, TRUMP, USDC, and W. To protect user assets, Upbit immediately took the following measures: 1. All assets have been transferred to a secure cold wallet to prevent further abnormal transfers; 2. On-chain freezing attempts have been initiated, and cooperation with law enforcement investigations is underway; 3. A comprehensive security check of deposits and withdrawals is being conducted. Upbit stated that it has confirmed the scale of losses caused by the abnormal withdrawals and plans to use all of its assets to make up for the losses, ensuring that users' assets are not affected in any way.

According to SoSoValue data, XRP spot ETFs saw a total net inflow of $21.81 million yesterday (November 26th, Eastern Time). The XRP spot ETF with the largest single-day net inflow was the Bitwise XRP ETF (XRP), with a net inflow of $7.46 million, bringing its historical total net inflow to $163 million. The Canary XRP ETF (XRPC) followed with a net inflow of $5.21 million, bringing its historical total net inflow to $335 million. As of press time, the total net asset value of XRP spot ETFs was $676 million, with an XRP net asset ratio of 0.50%, and a historical cumulative net inflow of $644 million.

Huoxun Finance reported on November 27th that the Lido community released the "GOOSE-3" proposal, aiming to expand its business from a single staking product to a broader DeFi product portfolio. For the 2026 cycle, the proposal sets four main goals: expanding the staking ecosystem, ensuring protocol resilience (Lido Core upgrade), expanding new revenue streams for the DAO—LidoEarn, and exploring vertical expansion and real-world business applications. The proposal also outlines a three-year vision, including: making staking a mature and profitable product line; strengthening sustainability and driving revenue growth through vertical (building end-products) and horizontal (expanding into new assets such as stablecoins); and becoming a major gateway for real-world capital into DeFi. The proposal was submitted to LidoDAO by the LidoLabs Foundation, the Lido Ecosystem Foundation, and the Lido Alliance BORG, all of which are funded by LidoDAO. The proposal states that if adopted, LidoDAO will make this goal a strategic direction by expanding its staking product line, developing end-user products that unlock higher value, broadening its product range, attracting new demand, and diversifying its revenue streams.

According to Odaily Planet Daily, South Korean tech giant Naver and Dunamu, the parent company of South Korea's largest cryptocurrency exchange Upbit, plan to jointly invest 10 trillion won (approximately $6.8 billion) over the next five years to build a new generation of financial infrastructure based on AI and blockchain technologies. Naver Financial, Naver's fintech arm, confirmed on Wednesday that it will acquire Dunamu through a stock swap. This is one of the largest collaborations in South Korea's fintech and crypto sectors, integrating Naver's AI and business capabilities, Naver Financial's payment and financial infrastructure, and Dunamu's digital asset trading and blockchain ecosystem. Dunamu President Oh Kyung-seok stated that the two companies will also jointly work on issuing a stablecoin pegged to the Korean won. Previously, Naver Financial planned to launch a stablecoin wallet service in Busan next month. South Korean President Lee Jae-myung has chosen to promote the establishment of a stablecoin market pegged to the local currency to protect monetary sovereignty. (TheBlock)