According to Lookonchain monitoring, on November 20th, whale 0x0ddf closed its long positions in ETH and BTC, incurring a loss of approximately $6.2 million, and subsequently turned bearish, opening a short position of 20,000 ETH with 2x leverage, worth $60.4 million.

Huoxun Finance News, November 20th – GemW, a global on-chain trading platform, officially launched a dedicated xStocks zone for US stock tokens, supporting on-chain trading of popular US stock tokens such as NVDAx and TSLAx. This provides users with a direct channel between on-chain and traditional financial assets, enabling 24/7 on-chain trading of US stocks and bringing a new tokenized investment experience. Through xStocks, GemW is pioneering the RWA (Retail Asset Provider) sector, providing non-US users with a convenient access to US stock token liquidity, strengthening the platform's differentiated advantage in the on-chain trading field. xStocks is an innovative asset form that tokenizes well-known US stocks, representing on-chain equity mapping of the corresponding underlying assets and does not imply holding the underlying stock assets. xStocks is based on public chains such as Solana, with licensed custodians holding the corresponding stocks or ETFs at a 1:1 ratio, ensuring transparent and compliant value. Disclaimer: This article is for marketing and informational purposes only and does not constitute investment advice or an invitation. Tokenized assets carry high risks; participation requires caution. GemW and its affiliates make no commitments or guarantees regarding the future performance of any digital assets, tokens, or underlying assets. GemW platform services are not available to users in the United States and other restricted jurisdictions.

Huoxun Finance News, November 20th - According to Zhitong Finance, International Business Digital Technology (01782.HK) announced that on November 20, 2025, the company plans to place up to 28 million placement shares through a placement agent at HK$3.60 per placement share, representing a discount of approximately 8.86% to the closing price of HK$3.95 per share as quoted on the Stock Exchange on the date of the placement agreement. The maximum net proceeds from the placement are expected to be HK$99.72 million, of which approximately 65.18% will be used to develop three new technologies, which are expected to enable the Company to provide innovative products and services to customers in the APM business unit, and are expected to be fully utilized by December 31, 2027; approximately 20.06% will be used to support the Company in the timely and orderly deployment of its virtual asset services business in overseas markets after obtaining the necessary final regulatory approvals and when expansion opportunities arise, and are expected to be fully utilized by December 31, 2027; and approximately 14.76% will be used for the Group's general working capital, and are expected to be fully utilized by December 31, 2027.

Huoxun Finance reported on November 20th that, according to a research report released by 10xResearch on Thursday, BitMine, the world's largest corporate Ethereum holder, is currently losing $1,000 per ETH relative to its average cost, with its total Ethereum holdings accumulating a floating loss of $3.7 billion. The report states that the declining net asset value (NAV) of corporate crypto treasuries makes it difficult to attract new retail investors, while many existing shareholders are effectively "trapped" unless they sell at a significantly lower price. When the premium inevitably falls to zero, investors find themselves trapped in this structure, unable to exit without suffering substantial losses. Unlike ETFs, digital asset treasuries (DATs) "are layered with complex, opaque, and often hedge fund-like fee structures that subtly erode returns." According to Bitminetracker data, BitMine's basic mNAV is 0.77, and its diluted mNAV is 0.92. BitMine holds approximately 3.56 million ETH, worth about $10.7 billion, representing 2.94% of the total Ethereum supply. The company's average cost base is $4,051 per ETH. Other digital asset treasury companies also saw significant declines in their mNAV, including Strategy, Bitmine, Metaplanet, Sharplink Gaming, Upexi, and DeFi Development Corp.

Huoxun Finance News, November 20th - According to its official WeChat account, the Hong Kong Securities and Futures Commission (SFC) warned the public to be wary of suspicious investment products named "GoldpayToken (GPT)" and "GoldReceipt (GR)". These products involve digital tokens linked to physical gold. These investment products have not been approved by the SFC for sale to the Hong Kong public. The SFC noted that information about these products can be accessed by the Hong Kong public through their related websites, social media accounts, and related mobile applications.