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The prediction market platform Kalshi lost its preliminary injunction to block enforcement by Nevada regulators on the eve of Thanksgiving and is currently seeking to continue blocking state regulatory actions during the appeal in court. The court's lifting of the injunction means that Kalshi faces potential legal risks if it continues to operate in Nevada. Similar to Polymarket, Kalshi offers prediction contracts covering sports, politics, crypto, and traditional markets, believing that obtaining a CFTC license allows it to operate in all 50 states, but some state regulators—especially in Nevada—disagree.After the lifting of the injunction, Nevada regulators stated that they would not immediately initiate enforcement actions until the court decides whether to approve a stay of enforcement, but this does not equate to an administrative exemption granted by the court. The court has required state regulators to respond to Kalshi's application by December 8, and Kalshi may submit a reply by December 12.Reports indicate that as Kalshi engages in negotiations with regulators in multiple states, the platform's trading volume has rapidly increased, and its valuation has risen to $11 billion in a funding round led by Sequoia. Certuity predicts that the prediction market size could reach $95.5 billion by 2035. Nevada regulators have accused Kalshi of "continuing to engage in illegal activities" without a state gaming license and emphasized that both Crypto.com and Robinhood have agreed to suspend local operations during the appeal. Crypto.com did not receive extended injunction protection, and its prediction market operations in Nevada have been suspended.

According to The Defiant, a court in the Cayman Islands issued an injunction this week to prevent Maple Finance from launching its yield-bearing Bitcoin product syrupBTC, highlighting the gap between DeFi products and traditional legal frameworks. Core Foundation accused Maple of breaching an exclusivity agreement by using information obtained during their collaboration on IstBTC to create a competing product, syrupBTC.Maple manages over $3 billion in assets and denies any wrongdoing, stating that syrupBTC was developed independently and that it will return 85% of the principal to BTC Yield lenders, with the remaining 15% to be released after the legal dispute is resolved.Experts point out that this case shows that even decentralized blockchain products must comply with real-world contracts and laws. Block Street CEO Hedy Wang stated: off-chain contracts are still important; DeFi is not a lawless territory. Axelar legal advisor Jason Rozovsky emphasized that assets should be stored in a bankruptcy-remote manner to protect user rights.

Core Foundation announced that the Grand Court of the Cayman Islands found that Maple Finance has "serious issues to be examined" regarding the alleged violation of confidentiality obligations and exclusive cooperation terms during the joint development of lstBTC.Core Foundation stated that since the beginning of their collaboration in early 2025, they have invested substantial resources in technology development, marketing, and product subsidies. However, Maple Finance has since been accused of using related confidential information to develop competing products, violating the 24-month exclusive cooperation agreement between the two parties. Regarding Maple Finance's announcement of the need to impair assets in the Bitcoin Yield product, Core Foundation pointed out that it remains unclear why Maple Finance is unable to return the lenders' bitcoins and emphasized that its actions reflect significant doubts about Maple Finance's business operations.

ZCash research expert c-node posted, "MPC, tFHE, and TEEs can build privacy applications that cannot be achieved with ZK, but the privacy strength is weaker. It is recommended to prioritize the use of pure ZK for payments, transfers, and voting."Vitalik Buterin replied, "ZK itself cannot provide coercion resistance, and in scenarios like voting, it still requires the combination of trusted parties, MPC, FHE, or TEE to achieve that feature. We can enhance system security through layered architectures like ZK + FHE; even if FHE is compromised, all privacy attributes except coercion resistance can still be retained. I suspect a similar situation applies to almost all other cryptographic application scenarios beyond zero-knowledge proofs."

Binance Alpha announced that it will launch the project Junction (JCT) on November 10 at 18:00 (Beijing time) and open Alpha trading. Users holding at least 235 Alpha points can claim an airdrop of 16,000 JCT tokens in advance, on a first-come, first-served basis. If the prize pool is not fully distributed within the specified time, the point threshold for claiming will automatically decrease by 5 points every 5 minutes.The official reminder states that claiming the reward will consume 15 Alpha points, and users must complete the confirmation on the Alpha event page within 24 hours, otherwise it will be considered a waiver of the claim.

ChainCatcher news, according to social media information, Ripple Labs CEO Brad Garlinghouse announced that Ripple will abandon its cross-appeal in the case against the SEC, and Ripple will completely turn the page on this chapter, focusing on the most important thing—building the Internet of Value, the overall situation is set.ChainCatcher news, according to previous reports, U.S. District Judge Analisa Torres in the Southern District of New York has twice rejected the SEC's and Ripple's settlement request yesterday. The request aimed to reduce the fine to $50 million and lift the permanent injunction, but the judge believes that Ripple still has the potential to violate the law again, and the injunction must be maintained.

ChainCatcher news, according to Cointelegraph, the U.S. Securities and Exchange Commission (SEC) and Ripple have jointly filed a request with the Manhattan District Court to lift the injunction in their lawsuit and to address the $125 million civil penalty held in escrow.According to the proposal, $50 million will be paid to the SEC, and the remaining funds will be returned to Ripple.

ChainCatcher news, according to Forbes business reporter Eleanor Terrett, the lawsuit between the U.S. Securities and Exchange Commission (SEC) and Ripple is in its final stages and may conclude soon.According to two insiders, the delay in reaching an agreement is due to Ripple's legal team negotiating the terms of last August's district court ruling, hoping to secure more favorable conditions.The ruling imposed a $125 million fine on Ripple and permanently prohibited it from selling XRP to institutional investors. Insiders indicate that Ripple believes if the new leadership at the SEC is clearing the enforcement records for all previously investigated cryptocurrency companies, then why should Ripple still be penalized. Accepting Judge Torres's ruling would essentially mean Ripple acknowledges wrongdoing, while now the SEC itself seems uncertain whether any violations occurred.

ChainCatcher news, according to Jinshi reports, court documents show: The U.S. court dismissed the preliminary injunction requested by Musk in the lawsuit against OpenAI.

ChainCatcher news, Coinbase's Chief Legal Officer paulgrewal.eth posted on the X platform that Coinbase has just won a writ of mandamus petition in the Third Circuit Court. The court rejected the U.S. Securities and Exchange Commission (SEC)'s order dismissing its rulemaking petition, which means the SEC must reconsider Coinbase's request and provide more substantial reasons for why they refuse to establish clear rules regarding cryptocurrencies.The judge stated, "The SEC's order is conclusory, lacking in reasoning, and therefore arbitrary and capricious. We partially grant Coinbase's petition and remand it to the SEC for a more comprehensive explanation."

ChainCatcher news, according to TechCrunch, Musk's lawyers have filed for a preliminary injunction against OpenAI, several of its co-founders, and its investors and close partner Microsoft to prevent OpenAI and other designated defendants from engaging in anti-competitive behavior. Musk is one of the co-founders of OpenAI and left the company in 2018 due to disagreements over its direction.The motion for the injunction was submitted late Friday in the U.S. District Court for the Northern District of California, accusing OpenAI, its CEO Sam Altman, President Greg Brockman, Microsoft, LinkedIn co-founder and former OpenAI board member Reid Hoffman, and former OpenAI board member and Microsoft Vice President Dee Templeton of engaging in various illegal activities and seeking to stop these activities. The allegations include:Preventing investors from supporting OpenAI's competitors, such as Musk's own AI company xAI;Benefiting from "improperly obtained competitive sensitive information" through the relationship between OpenAI and Microsoft;Transforming OpenAI's governance structure into a for-profit entity and "transferring any significant assets, including intellectual property owned, held, or controlled by OpenAI, its subsidiaries, or affiliates";Causing OpenAI to conduct business with organizations that have "significant economic interests" in any of the defendants.Musk's lawyers claim that if the injunction is not granted, it will result in "irreparable harm."

ChainCatcher news, Chen Yaowen, Chief Digital Officer and Financial Technology Innovation Director of the A-share listed company Sifang Jingchuang, stated in an interview that Hong Kong can play a pivotal role in tokenization and the subsequent secondary market in the future, by building a solid financial infrastructure. Sifang Jingchuang can develop more non-local token issuance under the compliance regulations of Hong Kong.Chen Yaowen added that currently, Sifang Jingchuang has developed solutions in the field of virtual asset applications that are integrated with banking applications and connected to banking systems such as East Asia Bank, which can facilitate tokenization operations. This will enable the banking industry to accelerate the adoption of related technologies for handling the issuance, custody, and payment of security token offerings (STO).

ChainCatcher news, according to South Korean media reports, the Seoul Central District Court has rejected the temporary injunction application filed by Wemade's subsidiary Wemix PTE regarding the delisting of WEMIX by crypto trading platforms such as Upbit. Members of the Korea Digital Asset Trading Platform Association (DAXA) will announce the date for the delisting of WEMIX and will proceed with the delisting.ChainCatcher previously reported that on November 24, the Korea Digital Asset Trading Platform Association (DAXA) decided to stop trading support for the blockchain gaming platform Token WEMIX under South Korean gaming giant Wemade to protect investors. As a result, several South Korean exchanges, including Bithumb and Upbit, announced the delisting of WEMIX. (Source link)