Crypto sees ETF outflows and a US$981M JPMorgan stake, while AI faces Huang’s exit, a lawsuit to freeze capabilities, and data centre limits.
What’s up, Pasar Crew?
This week’s stories turn on trust and control: crypto grapples with exploits, steady ETF outflows, and regulatory scrutiny even as banks quietly build exposure, while AI faces a leadership shock, legal challenges and rising political pushback against the infrastructure behind it.
In crypto, an attacker drained US$3.76M from Kava Lend, and Bitcoin ETFs shed US$1.07B for a second straight week. Metaplanet swung to a US$170M nine-month loss, MEGA cut 20% of its staff, and JPMorgan was shown to hold US$981M in crypto-linked assets. Two dormant 2010 Bitcoin wallets also moved US$6.9M.
In AI, Nvidia shares fell after Jensen Huang’s sudden resignation, and four nonprofits sued OpenAI, Anthropic, Google, Meta and SpaceX to freeze AI capabilities. Sen. Josh Hawley urged a data centre moratorium, while OpenAI launched ChatGPT Wallet so agents can buy with card payments.
Get up to speed with the latest in Web3 and AI with this week’s Pasar Pulse.
Crypto and Web3
Kava Lend Loses US$3.76M in Exploit
An attacker drained about 55.2M KAVA from Kava Lend by inflating the value of deposits in a dormant BUSD market and borrowing against them. Kava said it was not an infinite mint and was contained within Kava Lend.
Metaplanet Swings to US$170M Nine-Month Loss
Metaplanet booked a net loss of ¥27.16B (SGD$0.22B) versus a ¥13.53B (SGD$0.11B) profit a year earlier, including a ¥19.17B (SGD$0.15B) loss on selling 10,000 BTC to show it could raise cash. It then bought 11,000 BTC, lifting holdings to 44,000.
MEGA Cuts 20% of Staff in Restructuring
MEGA, formerly MegaETH, laid off 20% of its workforce as it shifts direction, co-founder Shuyao Kong said. The foundation rebranded this week and committed US$30M to new products, including AI inference.
2010 Bitcoin Wallets Wake, Move US$6.9M
Two addresses dormant since 2010 each moved 50 BTC on Friday, about US$6.9M combined, per Whale Alert. The coins were mined in September 2010, when each 50 BTC reward was worth about US$3.
Hoskinson Says Cardano Roadmap Is Complete
Charles Hoskinson said on a YouTube livestream that Cardano’s ‘roadmap is complete’ and that everything he said would be built has been, as ADA sits 94% below its 2021 high. He said the network no longer relies on him.
UK Faces FATF Crypto Test in 2027
A RUSI task force warns the UK will be judged on crypto enforcement in FATF’s 2027 evaluation, with its mandatory crypto regime not in force until 25 October 2027. The City of London Police say 66% of UK investment fraud involves crypto.
JPMorgan Holds US$981M in Crypto Exposure
A 13F filing shows JPMorgan held about US$981M across spot Bitcoin ETFs, Strategy and Coinbase on 30 September, after raising its Strategy stake 36% to 848,932 shares. Robinhood and miners likely push the total past US$1B.
Bitcoin ETFs Shed US$1.07B for Second Week
US spot Bitcoin ETFs lost US$1.07B last week, after US$1.28B the week before, the most since the fortnight ending 5 June. All five trading days saw outflows.
Artificial Intelligence (AI)
Microsoft Restores 365 After 24-Hour Outage
Microsoft restored Microsoft 365 services after a global outage disrupted Outlook, Teams and Copilot for more than 24 hours, blaming a network capacity upgrade rather than a cyberattack or AI agents. Government emails in Japan, Singapore, and the US were affected.
Four Nonprofits Sue to Freeze AI Capabilities
Public Citizen and three other nonprofits sued OpenAI, Anthropic, Google, Meta, and SpaceX in San Francisco, seeking to bar systems more capable than their most advanced models as of 12 November 2026. Existing products would not necessarily be shut down.
OpenAI Launches ChatGPT Wallet for Agents
ChatGPT Wallet lets OpenAI’s AI agents buy products with American Express, Mastercard, and Visa cards using payment tokens, without seeing the actual card number. It is limited to US ChatGPT Pro users aged 18 or older.
Hawley Urges Data Centre Moratorium
US Republican Senator Josh Hawley called for a nationwide data centre moratorium, one of five priorities for Senate Republicans in the six weeks before Democrats take control. His office wants a pause until taxpayers get guarantees of no rate increases.
Nvidia Dips as CEO Jensen Huang Resigns
Nvidia shares fell 4.59% to US$165.75 on Thursday afternoon, after an initial drop of more than 14%, following Huang’s immediate resignation as CEO, president and board member. CFO Colette Kress is interim CEO, and AMD rose 5.79%.
Near AI Discloses Breach of 100 Users
An attacker exploited a remote code execution flaw in SGLang to access names and emails of about 100 Near AI users and data from 18 AI agents. The company disclosed the breach in a 9 November report.
UCSB Uses AI to Improve Bionic Eyes
UC Santa Barbara researchers used deep learning to design stimulation patterns for electrodes temporarily implanted in the visual cortex, improving control of neural activity and predicting visual sensations. The proof-of-concept study appears in Neuron.
Caine Prize Clears Winner of AI Claims
The Caine Prize concluded after a month-long investigation that Simbarashe Kundizeza’s winning story, The Blue Fighter, was human-written, following an Atlantic article citing AI-detection software. The £10,000 prize will be awarded before year-end.
That’s all for this week’s Pasar Pulse. Want more insights? Stay tuned to our site or subscribe via email!
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