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The Singapore-based firm StraitX partners with Thailand’s KBank to launch real-time QR payments using the XSGD stablecoin by mid-2026.
Former NRL player Trent Merrin was arrested over an alleged $91,000 cryptocurrency theft, while investigators linked DWF Labs to a $44 million hack allegedly linked to North Korea.
Franklin Templeton updates its XRP ETF filing amid Bitcoin ETF outflows, while mining giant Canaan raises $72 million from top investors.
The global cryptocurrency market witnessed major developments on November 5, 2025, including new fintech collaborations, cybercrime, and shifting institutional investments. Whether it’s Singapore’s growing stablecoin ecosystem, high-profile crypto theft cases or renewed regulatory scrutiny, our Crypto News Today has some interesting updates for the readers.
StraitsX, based in Singapore, announced it will launch a stablecoin payment network connecting Singapore, Thailand, Taiwan, and Japan by mid-2026. This represents a significant step forward in the integration of cross-border digital currencies in Asia.
In the first phase, StraitsX has collaborated with Thailand's KBank to facilitate interoperability between Thailand's PromptPay and Singapore's SGQR systems through QR code payments.
The XSGD stablecoin will serve as the settlement currency, enabling real-time payments and providing transparent foreign exchange conversion.
Thai tourists visiting Singapore will be able to pay using KBank’s Q Wallet, with instant merchant settlement in Singapore dollars via GrabPay and PayNow-enabled terminals.
In Australia, former NRL player Trent Merrin was arrested and charged over the alleged theft of $91,000 (AUD 140,000) in cryptocurrency.
Police raided Merrin’s Barrack Point residence, seizing multiple electronic devices for forensic examination following a year-long investigation.
Authorities allege Merrin used deceptive methods to transfer funds from a 29-year-old victim’s crypto account into his own.
He has been charged with dishonestly obtaining a financial advantage by deception and was released on conditional bail. His court appearance is scheduled for December 3 at Port Kembla Local Court.
Market-making firm DWF Labs is facing scrutiny after on-chain investigators linked it to a 2022 cyberattack allegedly carried out by North Korea’s AppleJeus group, resulting in a $44 million loss.
According to blockchain analysts, hackers breached a DWF-linked address (0x3d67fd…) and drained large amounts of USDC and USDT stablecoins between September 22 and 23, 2022.
The stolen funds were laundered through the Ren Protocol bridge and converted into Bitcoin, a method consistent with prior North Korean operations.
On-chain analyst ZachXBT accused DWF of concealing the breach, though the firm has yet to issue a public statement.
In an update to its S-1 filing for an XRP exchange-traded fund (ETF), US asset management giant Franklin Templeton, with more than $1.5 trillion in assets under management, has made amendments that shorten the Section 8(a) language, allowing the SEC to accelerate or delay its approval process.
This follows a similar trend to that of Bitwise and Canary Capital filings, signaling growing momentum for a regulated XRP ETF market. Analysts view the revisions as a sign of the SEC's readiness for approval.
Despite the favorable developments with ETFs, XRP's price remains weak, down more than 14% in the past week due to a broader market correction.
Its near-term price action will depend on ETF inflow data and overall investor interest in spot-focused crypto products.
Also Read: XRP Hits $2.50: Key Moment for Bulls Before Possible $10 Rally
According to Sosovalue, Bitcoin spot ETFs saw $577.74 million in net outflows on November 4, marking the fifth consecutive day of withdrawals.
Fidelity’s FBTC had the largest daily outflow of $356.58 million, Ark Invest and 21Shares’ ARKB recorded the second largest at $128.07 million.
Despite this, total Bitcoin ETF assets remain robust at $134.53 billion, representing 6.69% of Bitcoin’s total market cap.
Also Read: Bitcoin Price Holds Around $104,600 as ETF Outflows Hit $799 Million
Chinese Bitcoin mining manufacturer Canaan Inc. announced it raised $72 million from major institutional investors, including Brevan Howard’s BH Digital, Galaxy Digital, and Weiss Asset Management.
The investment executed through the sale of 63.7 million American Depositary Shares (ADS) at $1.131 per share will be used to strengthen the company’s balance sheet and invest in computing and energy infrastructure.
Canaan CEO Zhang Nangeng said the funding underscores investor confidence in the firm’s technological leadership.
The company also announced partnerships with a Japanese utility provider for a power grid stability project and a US mining client for 50,000 Avalon A15 Pro rigs to be delivered by year-end.
1. What is StraitsX planning for 2026?
StraitsX aims to connect Singapore, Thailand, Taiwan, and Japan through a stablecoin-based payment network using its XSGD token for real-time settlements.
2. Why was former rugby star Trent Merrin arrested?
Merrin faces charges of fraudulently transferring $91,000 worth of crypto from a victim’s account and is set to appear in court on December 3.
3. How is DWF Labs connected to North Korea’s AppleJeus group?
On-chain data linked a $44 million 2022 hack to DWF’s wallet, allegedly drained by AppleJeus hackers who laundered the funds via the Ren Protocol.
4. What does Franklin Templeton’s XRP ETF update mean?
The S-1 amendment signals progress toward SEC approval, joining similar filings by Bitwise and Canary Capital amid rising institutional interest in XRP ETFs.
5. How is the Bitcoin ETF market performing?
Bitcoin spot ETFs recorded five straight days of outflows totaling $577.74 million, led by Fidelity’s FBTC and Ark’s ARKB, despite maintaining strong total assets at $134.53 billion.
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