November 13 crypto news brings fresh company results, institutional blockchain projects and exchange announcements. Today’s roundup covers 10 announcements and disclosures, including Payward’s quarterly update, Twenty One Capital’s Bitcoin strategy and findings from a three-country settlement trial.
Kraken Parent Reports Quarterly Recovery as Annual Earnings Fall
Payward, the company behind Kraken, reported third-quarter adjusted EBITDA of $60 million, recovering from $23 million in the previous quarter but remaining approximately 66% below its year-earlier result. Its total platform margin reached $487 million, increasing 12% from the second quarter while declining 12% annually. The November 13 update also outlined plans to introduce apps with AI agents early next year, with their actions governed by customer-defined limits.
Three Central Banks Publish Results of Blockchain Settlement Trial
The central banks of the UK, Singapore and Thailand released findings from Project Meridian FX APAC, which tested how conventional payment systems could coordinate transactions with systems using distributed ledgers. A prototype developed by Partior synchronized currency exchanges and tested payment netting to reduce funding requirements. The results support further development, while questions about legal arrangements, oversight and operational responsibilities still need attention before broader deployment.
Twenty One Capital Explores Businesses Beyond Holding Bitcoin
In a shareholder letter published November 13, Twenty One Capital CEO Rapha Zagury said the company was evaluating opportunities in mining, lending, treasury services and energy. He explained that its $1.087 billion third-quarter net income largely reflected changes in Bitcoin’s valuation, while the company’s longer-term objective is to generate cash through operating businesses. Zagury also left open the possibility of share repurchases when the stock trades below its underlying asset value, subject to liquidity and approvals.
Hyperliquid Report Shows Stronger Trading Activity in Q3
Research published November 13 put Hyperliquid’s open derivatives positions at $16.8 billion at September’s close, nearly 80% above the previous quarter’s endpoint. Protocol revenue reached $190.9 million, rising 21.7% quarter over quarter but remaining 36.5% below the year-earlier level. Stock-linked perpetuals contributed to the expansion, generating $153.8 billion in quarterly trading volume across its HIP-3 markets.
ADI Foundation and The Vault Plan Custody Integration
ADI Foundation and The Vault announced a partnership covering institutional custody and research into security against future quantum-computing threats. The proposed integration would add support for ADI Chain assets, including the ADI token and the dirham-backed DDSC stablecoin, within The Vault’s custody platform. The companies will establish a working group to determine the implementation schedule and research priorities.
AlfaR and Asseto Aim to Put Fund Ownership Records on Blockchain
AlfaR Group and Asseto announced a joint platform intended to bring fund registration, subscriptions, transfers and redemptions into a blockchain-based operating system. AlfaR will oversee administration and investor checks, while Asseto supplies the technology for issuing and managing tokenized fund units. Whether blockchain records can serve as the authoritative ownership register will depend on each fund’s documents and applicable legal requirements.
PDAX Details Access to Philippine Government Dollar Bonds
PDAX outlined plans to accept subscriptions for the Philippine government’s third Retail Dollar Bond offering from November 19 to 24, with investments starting at $200. Transactions will use its USD* balance, which represents a selected dollar-denominated stablecoin, while the underlying bond holdings are recorded through the government’s securities registry. The final coupon rate had not been announced in the November 13 update.
Bithumb Sets Exit Dates for MANTRA and RECALL
Bithumb announced that trading in MANTRA and RECALL is scheduled to end on December 14, followed by the withdrawal-support deadline on January 13, 2027. Its review cited concerns about MANTRA’s response to security incidents and unresolved questions surrounding RECALL’s operations and token functionality. The exchange said outstanding orders would be canceled when trading support ends.
Upbit Suspends OSMO Transfers Following Network Disruption
Upbit announced a temporary pause in Osmosis deposits and withdrawals on November 13 after the network stopped producing transaction blocks. The restriction applied to transfers through Osmosis Chain, while customers could continue trading OSMO within the exchange. Upbit said it would announce restoration once it could confirm that transfers could be processed safely.
KuCoin Announces Five More Stock-Linked Perpetual Markets
KuCoin announced perpetual contracts tracking DJT, EBAY, FLEX, RUM and TWST, with trading scheduled for November 13 at 09:00 UTC in supported jurisdictions. The contracts settle in USDT, offer round-the-clock trading and allow leverage of up to 20 times. These products provide derivative exposure to stock prices and confer no ownership of the underlying shares.