Tech Headlines

1. TopNod Wallet Supports Ondo's Tokenized Stocks and ETFs on Ethereum

https://x.com/OndoFinance/status/1993154020303683834

TopNod self-custodial wallet now supports Ondo's tokenized stocks and ETFs on Ethereum, helping global users bring traditional assets on-chain.

2. Ethereum Co-Founder Vitalik Proposed That Ethereum Will Implement a Targeted Gas Adjustment Strategy in the Future

https://www.techflowpost.com/newsletter/detail_106658.html

Ethereum co-founder Vitalik Buterin stated today on social media that Ethereum will continue to grow in the future but will adopt a more targeted scaling strategy. He proposed potential measures including increasing the block gas limit by 5x while simultaneously raising the gas cost of less efficient operations by 5x. Potential targets for adjustment include the SSTORE operation when creating new storage, precompiles (excluding those related to elliptic curves), calls to large contracts, complex arithmetic operations, and minor adjustments to calldata costs. Vitalik noted that over the past year, Ethereum’s block gas limit has already doubled to 60M, and this is only the beginning of future improvements. The relevant gas repricing EIP is currently under development for the upcoming "Glamsterdam" or "H*" upgrade.

3. Upbit Exchange Suffered a 54 Billion KRW Attack on the Solana Network and Will Bear All Customer Losses

https://www.jinse.cn/lives/488990.html

On November 27, Jinse Finance reported that Upbit, South Korea's largest cryptocurrency exchange by trading volume, disclosed it suffered a 54 billion KRW (USD 36 million) attack on the Solana network, and Upbit will bear all customer losses.

Industry Dynamics

1. The People's Bank of China Has Defined Stablecoins for the First Time, and Industry Analysts Note This Will Not Affect Hong Kong's Related Stablecoin Arrangements

https://www.bbtnews.com.cn/2025/1130/577206.shtml

At a recent meeting of the coordination mechanism for cracking down on virtual currency trading and speculation, convened by the People's Bank of China, financial regulators defined stablecoins for the first time, explicitly stating that stablecoins are a form of virtual currency and currently cannot effectively meet requirements related to customer identification, anti-money laundering, and other compliance measures. They highlighted the risks of stablecoins being used for illicit activities such as money laundering, fundraising fraud, and unauthorized cross-border fund transfers, and reiterated the need to continue cracking down on illegal financial activities related to virtual currencies. However, industry insiders believe this meeting will not affect Hong Kong’s related stablecoin arrangements, although stablecoin speculation in mainland China will be severely cracked down on. Furthermore, the room for imagination regarding future stablecoin deployments in Hong Kong by mainland-based entities will be drastically narrowed, with applications likely limited primarily to practical use cases such as cross-border payments and supply chain finance.

2. Sony Bank Will Issue a U.S. Dollar Stablecoin in the U.S. in Fiscal Year 2026

https://asia.nikkei.com/spotlight/cryptocurrencies/sony-bank-to-issue-dollar-pegged-stablecoin-in-us

According to Nikkei, Sony Bank will launch a U.S. dollar-pegged stablecoin in the U.S. as early as fiscal year 2026 and plans to use it for payments for gaming and anime content within its ecosystem.

3. U.S. Bank Is Testing the Issuance of a Custom Stablecoin on the Stellar Network

https://www.crowdfundinsider.com/2025/11/255657-nexos-chief-banking-officer-explains-how-to-bring-real-world-utility-to-digital-assets-sector/

On November 29, Jinse Finance reported, citing crowdfundinsider, that U.S. Bank, PwC, and the Stellar Development Foundation (SDF) announced that U.S. Bank is testing the issuance of a custom stablecoin on the Stellar network.

4. Nasdaq's Head of Crypto: Pledged to "Advance as Soon as Possible" Tokenized Stocks

https://cointelegraph.com/news/nasdaq-stock-exchange-tokenization-plans-sec-approval-priority

Matt Savarese, Head of Digital Asset Strategy at Nasdaq, stated that the exchange has made SEC approval of its tokenized stock proposal a top priority and will "advance it as quickly as possible"; the team now needs to focus on evaluating public feedback.

In-Depth Analysis

1. The "Trojan Horse" in Ethereum's Fusaka Upgrade: How to Turn Billions of Smartphones into Hardware Wallets?

https://www.panewslab.com/zh/articles/b53c3937-b633-4539-bbe5-c7fabe1a5e1d

Ethereum's Fusaka upgrade, via the EIP-7951 precompile, natively supports secp256r1 curve signature verification used by mainstream secure enclaves (such as iPhone's Secure Enclave and Android's TrustZone), drastically reducing verification costs from hundreds of thousands of gas to just 6,900 gas. This eliminates the harsh trade-off users previously faced between "self-custodial security" and "user experience." Billions of existing smartphones can now become hardware wallets, lowering the barrier to entry for new users—they can complete transactions with just biometric authentication, without needing to understand complex concepts like private keys, helping Ethereum achieve mass adoption.