Weekly Review and Next Week Outlook | SoftBank plans to invest up to $3 billion in OpenAI's data center; The $1 billion Ethereum DAT plan led by Li Lin is shelved; Grab collaborates with StraitsX to promote stablecoin settlement.

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FFAI's strategic investment QLGN has been renamed AIxCrypto and will launch stock tokenization RWA business.

Faraday Future (FFAI) strategic investment Nasdaq company QLGN has been renamed AIxCrypto (AIXC) and announced a new strategy with three major business directions. AIXC will engage in real-world asset (RWA) and stock tokenization business, with the first proposed project being the tokenization of FFAI Class A common stock, intending to purchase approximately $5 million worth of FFAI stock through independent third-party evaluation; any tokenization arrangement will be subject to further assessment and the signing of a final agreement, with market attention on whether it can provide FFAI with a lower-cost Web3 financing path.

Kalshi completes $1 billion financing, valuation rises to $11 billion

Prediction market platform Kalshi announced the completion of $1 billion in financing, with the company's valuation soaring to approximately $11 billion. This round of financing was led by Sequoia Capital and CapitalG, with familiar faces such as Andreessen Horowitz, Paradigm, Anthos Capital, and Neo also participating.

Kalshi is a platform regulated by the U.S. Commodity Futures Trading Commission (CFTC), offering users the ability to trade "event contracts" related to real-world events (such as economic, political, sports, etc.).

SoftBank plans to invest up to $3 billion in OpenAI data center factory

SoftBank Group plans to invest up to $3 billion in an electric vehicle factory located in Lordstown, Ohio, to transform the factory into a manufacturing base for equipment for OpenAI's new data center. Once the renovation is complete, the factory will produce modular data center units, which are pre-assembled and can be quickly deployed to serve data centers in places like Milam County, Texas.

Metaplanet raises $150 million to promote Bitcoin treasury expansion

Japanese Bitcoin treasury company Metaplanet announced the issuance of $150 million in Class B perpetual preferred stock, with a fixed annual dividend rate of 4.9%. The financing structure is divided into Class A "MARS" preferred stock and Class B "Mercury" preferred stock, with Class B shares providing stable income and long-term upside potential linked to Bitcoin value. Metaplanet plans to use the raised funds primarily to continue increasing its Bitcoin holdings to strengthen its corporate treasury strategy.

Third-quarter revenue exceeds expectations, Bullish receives upgrade to "Buy" from Deutsche Bank

Bullish achieved a significant profit turnaround in the third quarter. The company reported digital asset sales of $41.6 billion, although down from $54.2 billion in the same period last year. During the same period, the company's adjusted revenue reached $76.5 million, a significant increase from approximately $44.6 million in the same period last year. The company's adjusted EBITDA also reached $28.6 million, far exceeding last year's $7.7 million.

NVIDIA's third-quarter performance is strong, driven by AI ecosystem growth

NVIDIA reported that its revenue for the third quarter of fiscal year 2026 reached $57 billion, a year-on-year increase of 62% and a quarter-on-quarter increase of approximately 22%. Among them, the data center segment's revenue reached $51.2 billion, a year-on-year increase of about 66%, becoming the core driver of performance growth. The company's gross margin remained at 73.4%, with profitability continuing to improve. Looking ahead to the fourth quarter, NVIDIA expects revenue to reach approximately $65 billion, continuing to lead the peak demand for AI chips and infrastructure.

21Shares officially launches Solana ETF with an initial asset size of $100 million

Swiss digital asset management company 21Shares has officially issued its first U.S.-listed Solana ETF, with the product code TSOL and a fee rate of only 21 basis points. It is reported that the ETF attracted $100 million in assets under management on its first day of listing.

Li Lin's $1 billion Ethereum DAT plan suspended, about $200 million returned to investors

The Ethereum Digital Asset Trust (DAT) plan, led by Huobi Exchange founder Li Lin, Distribution Capital founding partner Shen Bo, HashKey Group chairman Xiao Feng, and Meitu founder Cai Wensheng, which aimed to raise approximately $1 billion, has been announced as suspended. It was reported that the plan originally intended to raise about $1 billion through the acquisition of a Nasdaq shell company, with Avenir investing about $200 million and other Asian institutions about $500 million. However, due to significant market fluctuations on October 11 that led to a sharp decline in Ethereum and related crypto assets, and increased market risk, the project chose to return approximately $200 million already raised to investors and will not proceed for now.

Cloud infrastructure giant Cloudflare experiences global network outage for about 3 hours, multiple platforms affected raises market concerns

Cloudflare's network services experienced a major failure globally, causing large-scale "500" errors or inaccessibility on internet platforms including ChatGPT, X, Spotify, as well as gaming and financial services. The company stated that it was not due to a cyber attack, but rather due to an automatically generated configuration file in its Bot Management system that expanded abnormally, leading to a chain failure across the network servers.

Grab partners with StraitsX to build Web3 payment network, advancing stablecoin settlement

Grab signed a memorandum of understanding with Singapore stablecoin issuer StraitsX on November 18 to jointly explore building Web3 payment infrastructure in Asia. The two parties plan to integrate Web3 wallets into the Grab app, allowing users to hold and use stablecoins. At the same time, a stablecoin settlement network will be established to provide merchants with compliant, secure, and efficient clearing and settlement solutions.

SGX to launch Bitcoin and Ethereum perpetual futures on November 24, locking in institutional crypto demand

The Singapore Exchange (SGX) announced that its derivatives department will officially launch Bitcoin (BTC) and Ethereum (ETH) perpetual futures on November 24, open only to qualified investors, institutions, and professional investors. The contracts have no expiration date and use a funding rate mechanism to align futures prices with the underlying cryptocurrency index prices, reducing basis risk. The product will be based on the iEdge CoinDesk cryptocurrency index, providing participants with regulated, exchange-cleared perpetual derivatives.

Token Unlocking

MMX will release 7.64 million MMX tokens on November 24, accounting for approximately 0.37% of the current circulating supply.

Newton Protocol will release 6.25 million NEWT tokens on November 24, accounting for approximately 1.89% of the current circulating supply.

SoSoValue will release 4.16 million SOSO tokens on November 24, accounting for approximately 1.61% of the current circulating supply.

Nillion will release 10.84 million NIL tokens on November 24, accounting for approximately 4% of the current circulating supply.

Gamer Arena will release 1.17 million GAU tokens on November 25, accounting for approximately 0.27% of the current circulating supply.

GT Protocol will release 1.05 million GTAI tokens on November 25, accounting for approximately 1.67% of the current circulating supply.

Humanity will release 62.5 million H tokens on November 25, accounting for approximately 2.92% of the current circulating supply.

Slash Vision Labs will release 4.81 million SVL tokens on November 25, accounting for approximately 0.06% of the current circulating supply.

Tribal Token will release 14.42 million TRIBL tokens on November 25, accounting for approximately 1.84% of the current circulating supply.

WiFi Map will release 4.17 million WIFI tokens on November 25, accounting for approximately 0.53% of the current circulating supply.

Venom will release 59.26 million VENOM tokens on November 25, accounting for approximately 2.18% of the current circulating supply.

AltLayer will release 240.1 million ALT tokens on November 25, accounting for approximately 5.1% of the current circulating supply.

Particle Network will release 6.78 million PARTI tokens on November 25, accounting for approximately 1.6% of the current circulating supply.

Plasma will release 88.89 million XPL tokens on November 25, accounting for approximately 4.74% of the current circulating supply.

IOTA will release 12.37 million XPL tokens on November 26, accounting for approximately 0.33% of the current circulating supply.

Mira will release 6.32 million MIRA tokens on November 26, accounting for approximately 3.17% of the current circulating supply.

Sahara AI will release 84.27 million SAHARA tokens on November 26, accounting for approximately 3.47% of the current circulating supply.

Huma Finance will release 167.92 million HUMA tokens on November 26, accounting for approximately 8.42% of the current circulating supply.

Blast will release 875 million BLAST tokens on November 26, accounting for approximately 2.59% of the current circulating supply.

Dexalot will release 6.879 million ALOT tokens on November 26, accounting for approximately 0.13% of the current circulating supply.

Numbers Protocol will release 4.49 million NUM tokens on November 27, accounting for approximately 0.6% of the current circulating supply.

Yield Guild Games will release 10.68 million YGG tokens on November 27, accounting for approximately 1.23% of the current circulating supply.

Aurora will release 1.46 million AURORA tokens on November 28, accounting for approximately 0.31% of the current circulating supply.

Fracton Protocol will release 277.78 thousand FT tokens on November 28, accounting for approximately 0.28% of the current circulating supply.

Nyan Heroes will release 3.22 million NYAN tokens on November 28, accounting for approximately 1.73% of the current circulating supply.

SingularityNET will release 6.63 million AGIX tokens on November 28, accounting for approximately 0.43% of the current circulating supply.

Wormhole will release 50.41 million W tokens on November 28, accounting for approximately 1.01% of the current circulating supply.

Sophon will release 25.13 million SOPH tokens on November 28, accounting for approximately 0.99% of the current circulating supply.

Jupiter will release 53.47 million JUP tokens on November 28, accounting for approximately 1.69% of the current circulating supply.

Games for a Living will release 24.25 million GFAL tokens on November 29, accounting for approximately 0.39% of the current circulating supply.

Staika will release 1.57 million STIK tokens on November 29, accounting for approximately 2.44% of the current circulating supply.

Hyperliquid will release 9.92 million HYPE tokens on November 29, accounting for approximately 2.66% of the current circulating supply.

Treehouse will release 11.25 million TREE tokens on November 29, accounting for approximately 5.77% of the current circulating supply.

BIM [OLD] will release 34,370 BIM tokens on November 30, accounting for approximately 0.12% of the current circulating supply.

Celo will release 1.86 million CELO tokens on November 30, accounting for approximately 0.32% of the current circulating supply.

Echelon Prime will release 441,310 PRIME tokens on November 30, accounting for approximately 0.85% of the current circulating supply.

FLOCK will release 2.46 million FLOCK tokens on November 30, accounting for approximately 0.95% of the current circulating supply.

Zora will release 16.667 million ZORA tokens on November 30, accounting for approximately 4.35% of the current circulating supply.

Optimism will release 31.34 million OP tokens on November 30, accounting for approximately 1.68% of the current circulating supply.

Cypher will release 769,230 CYPR tokens on November 30, accounting for approximately 0.88% of the current circulating supply.

Related: Bitcoin (BTC) drops to $86,000, approaching the strong liquidation threshold, yet presents an excellent "golden pit."

Original text: “This Week in Review and Next Week Outlook | SoftBank Plans to Invest Up to $3 Billion in OpenAI Data Center; Li Lin's $1 Billion Ethereum DAT Plan Halted; Grab Partners with StraitsX to Advance Stablecoin Settlement”

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