Yield-bearing stablecoins recorded $1 billion in outflows over the past week, marking the sector's largest weekly redemption since the Terra-Luna collapse in May 2022, according to Stablewatch. Stream Finance's xUSD was liquidated entirely following a $93 million loss in underlying fund assets. Coinshift's csUSDL saw its total value locked plunge 95% to $1.92 million, while Elixir's deUSD and sdeUSD both experienced simultaneous liquidity crises.

A wallet associated with SharpLink, Ethereum's second-largest holder, deposited 4,363.5 ETH valued at approximately $14.47 million to OKX on November 7, Onchain Lens data show. The transaction represents a significant movement from one of the network's major institutional holders to the centralized exchange platform.

Ethereum-based lending protocol Compound paused several v3 Comet markets, including USDC, USDS, and USDT markets, following a proposal by DeFi research firm Gauntlet that passed. Withdrawals for USDC and USDS lending markets resumed on Nov. 6, with Compound stating it will gradually restore markets while ensuring system security. The pause responds to a liquidity crisis affecting Elixir's deUSD and sdeUSD tokens, both listed as collateral across the markets, following Stream Finance's Nov. 4 disclosure of a $93 million loss in fund assets, with Elixir bearing $68 million in exposure.

Filecoin (FIL) perpetual contract funding rates on major centralized exchanges surged to sharply negative levels on November 7, with Binance reporting -1.005%, Coinglass data show. FIL traded at $2.184, up 61.2% over 24 hours, HTX market information show. Total FIL contract liquidations reached $6.2 million in the past day, including $4.02 million in short positions, while network-wide open interest stood at $218 million, rising 118% over 24 hours.

A trader closed approximately $10 million in 25x leveraged ETH long positions at a $2.29 million loss and withdrew remaining collateral of around $2.17 million over the past 24 hours, Hyperinsight data show. Huang Licheng re-entered Hyperliquid with about $500,000 on Wednesday evening, establishing 25x leveraged ETH longs; after multiple liquidations, he added collateral 8 hours ago and currently holds approximately $10 million in ETH long positions with an entry price of $3,334.35 and liquidation price of $3,204.10. Separately, Tether increased its Bitcoin holdings by 961 BTC valued at $97.34 million, bringing total holdings to 87,290 BTC worth $8.84 billion.

Bitcoin and Ethereum options valued at over $5 billion are set to expire on Nov. 7, Deribit data show. Bitcoin options have a max pain point near $108,000 with a Put Call Ratio of 0.83, with open interest concentrated around $100,000 puts and $120,000-$125,000 calls. Ethereum options show a max pain point approaching $3,800 with a Put Call Ratio of 0.9, with open interest centered on $3,500 puts and $4,200 calls.

Keonne Rodriguez, co-founder of cryptocurrency mixer Samourai Wallet, was sentenced Thursday to five years in prison by U.S. District Judge Denise Cote, Bloomberg reports. Rodriguez pleaded guilty to conspiracy to operate an unlicensed money-transmitting business and received the maximum term for the charge. The case involved hundreds of millions of dollars linked to illicit darknet transactions and fraudulent schemes.

The market capitalization of USDe, a stablecoin issued by Ethena Labs, fell to $8.95 billion as of November 7, DefiLlama data show. This represents a decline of approximately 45% from its peak of around $16 billion in early October. On October 11, USDe experienced a severe de-pegging event during a broader cryptocurrency market downturn, trading as low as $0.65 on certain decentralized exchanges.

A whale holding 1,231.98 BTC in short contracts valued at $124 million has recorded an unrealized profit of $12.99 million, on-chain analyst Ai Yi reports. The position, with an average entry price of $111,499.3, was built through multiple additions between Oct. 24 and 28. This marks the address's fourth consecutive Bitcoin short trade since early 2025.