Crypto Today: November 11, 2026

Each fact links to the outlet that reported it: check the original before relying on it. Not investment advice.

Wall Street’s rails into crypto kept widening on Nov. 10-11, with Coinbase’s federal trust charter taking effect, Deutsche Bank opening crypto custody and OKX-ICE setting a tokenized stock launch. Meanwhile, markets stayed weak: stablecoin supply shrank sharply, Bitcoin ETFs kept losing money, and prediction markets took legal hits.

The simple explanation

Big financial firms keep building official channels for crypto. Coinbase got a federal licence to safekeep crypto for clients, and Deutsche Bank, a major German bank, began holding bitcoin and ether for corporate customers. A new venue will also trade tokenized stocks (digital versions of company shares) from Nov. 23.

At the same time, money is leaving crypto. Stablecoins, tokens meant to track the dollar and used as trading cash, shrank by $14.2 billion in a month, and Bitcoin funds sold on stock exchanges lost $1.6 billion this month. A judge also ruled against a sports-betting prediction market, so the legal fight over who regulates such sites goes on.

Markets snapshot

• BTC: $73,912.00 (+0.5% over 24 hours)
• ETH: $2,058.16 (+0.7% over 24 hours)
• SOL: $83.54 (+1.0% over 24 hours)

Prices as of Wednesday, November 11, 2026.

Institutions & ETFs

Coinbase’s national trust charter takes effect

Coinbase’s new federal trust company is cleared to provide crypto custody under US federal supervision. Its client accounts will migrate from the New York trust company over time.

• The OCC gave preliminary approval to the charter on April 2. (CryptoSlate)
• The OCC’s register lists Nov. 6 as the effective date, and a final conditional approval letter of the same date says preopening requirements were met and authorizes opening on Nov. 9. (CryptoSlate)
• Coinbase announced final approval on Nov. 9. (CryptoSlate)
• The OCC approved moving accounts and assets from Coinbase Custody Trust Company in New York under a Sept. 1 agreement, with an exemption from certain bank-affiliate transaction limits. (CryptoSlate)
• For the first three years, significant business deviations need 60 days’ notice and OCC non-objection. The bank must hold at least $60 million of tier 1 capital, liquid-asset buffers and a 180-day operating-expense reserve. (CryptoSlate)
• Coinbase’s announcement gave no completed-transfer figures or client schedule. (CryptoSlate)

Context: The OCC (Office of the Comptroller of the Currency) is the US regulator of national banks. A trust company holds assets for clients under fiduciary duties, but this one is uninsured and limited in scope. The November conditions replace those set in April.

Why it matters: Custody moves under a single federal framework with fiduciary duties, which may make it easier for institutions to use Coinbase. The tight business limits mean it is not a full bank.

Watch next: Progress of the account migration from the New York trust company; no dates have been given.

Deutsche Bank opens Bitcoin, Ether and stablecoin custody to institutional clients

Deutsche Bank has started holding crypto for paying institutional and corporate clients, supporting bitcoin, ether and three stablecoins. It also signed a preliminary agreement with its fund arm on digital assets.

• The bank said on Wednesday, Nov. 11, that the service is live, per Reuters via Unchained. (Unchained, The Block)
• ESMA’s interim MiCA register lists Deutsche Bank AG with an entry dated Oct. 12, with BaFin as supervisor, covering custody and transfer, passported across 30 countries. (Unchained)
• Supported tokens are bitcoin, ether, USDC, EURC and EURAU. The bank manages clients’ wallets and private keys. (Unchained, Cointelegraph)
• The service is not for retail clients. (Unchained)
• A memorandum of understanding with Deutsche Asset Management (formerly DWS) aims to explore collaboration on digital assets, covering tokenized funds, crypto ETCs and stablecoins. (Unchained, The Block)
• Decrypt describes the launch as following a five-year buildup. (Decrypt)

Context: MiCA is the EU’s crypto rulebook, and Article 60 lets licensed banks offer crypto services by notifying their regulator. EURAU is a euro stablecoin from AllUnity, a venture involving DWS, Galaxy and Flow Traders.

Why it matters: A major European bank offering regulated custody gives institutions another mainstream option across the EU and nearby countries.

Disputed or unconfirmed: The September announcement named Corporate Bank and Investment Bank clients, but the product page mentions only the Corporate Bank; the bank hasn’t said whether this is a change.

Watch next: Disclosure of client numbers and pricing, neither of which has been published.

Companies & Industry

OKX-ICE sets Nov. 23 launch for tokenized stock venue after 67 companies opt out

The OKX-ICE joint venture will open its tokenized securities venue on Nov. 23 with more than 70 assets, led by crypto-linked companies, after 67 companies objected to being listed. It operates under a new SEC innovation exemption.

• The joint venture announced on Wednesday, Nov. 11, that trading starts Nov. 23. (The Block, CoinDesk)
• It will list more than 70 assets, including Coinbase, Circle, Robinhood and Strategy. (Decrypt)
• The list includes Strategy’s common and preferred shares and 59 Direxion ETFs. (CoinDesk)
• The lineup leans on crypto companies after 67 companies objected to having their shares listed. (Decrypt, Cointelegraph)
• The launch tests a new SEC exemption, while Nasdaq pursues its own tokenized stock plans and has warned that trading across platforms could fragment liquidity. (Cointelegraph)

Context: Tokenized stocks are blockchain-based representations of shares. ICE (Intercontinental Exchange) owns the New York Stock Exchange, and OKX is a crypto exchange. Background: the articles do not detail the exemption’s terms.

Why it matters: Large issuers pushing back shows tokenized trading can proceed without every company’s consent, but the launch list is skewed toward crypto-friendly firms. Competing venues could split liquidity.

Watch next: The Nov. 23 launch.

Regulation & Policy

Prediction markets suffer legal setbacks: Novig loses injunction bid and CFTC warns Kalshi

A federal judge found Novig’s sports contracts are not swaps, letting New York enforce gambling law, and criticized the CFTC. Separately, the CFTC reportedly warned Kalshi of imminent charges.

• On Tuesday, Nov. 10, Judge Colleen McMahon denied Novig’s preliminary injunction against New York’s attorney general and gaming regulators. (Unchained, The Block)
• She found the contracts are not swaps under the Commodity Exchange Act, because the law targets hedging of price risk rather than recreational betting. (Unchained)
• She wrote that the CFTC’s two October rules are inherently contradictory, and said an Aug. 11 CFTC order for Kalshi smacked of a collusive effort to create a preemption claim. (Unchained, The Defiant)
• She called Novig’s claim that it couldn’t obey both state and federal law ridiculous, noting it could seek a New York license and geofence. (Unchained)
• Novig filed a notice of interlocutory appeal the same day. (Unchained)
• Politico reported that the CFTC warned Kalshi of imminent charges over contract notification. (Cointelegraph)
• Kalshi says the issue involves procedural errors affecting a handful of contracts, many not live. (Cointelegraph)

Context: Kalshi and Novig run exchanges where users trade on event outcomes, including sports. The CFTC is the federal derivatives regulator. States argue these are gambling needing state licenses. The ruling is at an early, preliminary stage.

Why it matters: It strengthens states’ hand in the fight over who regulates sports event contracts and undercuts the federal-preemption argument.

Disputed or unconfirmed: The Kalshi charge warning comes via Politico, and Kalshi characterizes the issue as minor procedural errors.

Watch next: The Second Circuit merits panel on the same question, and any formal CFTC charges against Kalshi.

Stablecoins & Payments

Stablecoin supply falls $14.2 billion as Bitcoin ETFs lose $1.6 billion in November

Stablecoin supply shrank $14.2 billion in 30 days, the sharpest contraction since 2022, while US spot Bitcoin ETFs have lost $1.6 billion this month. Bitcoin held near $74,000.

• Stablecoin supply fell $14.2 billion in 30 days, the largest contraction since the 2022 bear market (Decrypt dates it to June 2022). (The Block, Decrypt)
• USDT and USDC supply fell nearly $11 billion over the past month, while gold-backed tokens held steady. (The Block)
• US spot Bitcoin ETFs have lost $1.6 billion in November, while stock funds drew billions. (Cointelegraph)
• ETF outflows extended to a fourth day and liquidations jumped. (CoinDesk)
• A hot Tuesday inflation reading lifted the odds of a US rate increase to around 90%. (CoinDesk)
• Bitcoin was near $74,000, and the market snapshot shows it down 7.9% over seven days. (CoinDesk)

Context: Stablecoins are tokens pegged to a currency, used as trading cash in crypto, so shrinking supply suggests less money available to buy. Spot Bitcoin ETFs are stock-market funds holding actual bitcoin.

Why it matters: Falling stablecoin supply and ETF outflows both point to money leaving crypto while stock funds attract buyers.

Watch next: Whether ETF outflows continue and the next rate decision.

Quick hits

• Attackers used social engineering at Namecheap to seize Across’s domain on Nov. 10; GoPlus estimated $350,000 in losses (not confirmed by Across), and Across says affected users will be made whole. (Unchained)
• Bitcoin Core disclosed three previously patched vulnerabilities, including a high-severity bug affecting block template creation. (The Block)
• Bitmine reported a $6.31 billion net loss for fiscal 2026 and said its internal controls over financial reporting are still not effective. (Unchained)
• Tom Emmer, a crypto ally, was elected House GOP minority whip after Democrats won the midterms. (Cointelegraph)
• Russia’s central bank said exchanges may begin organized crypto trading from Nov. 22 once it approves their rules, ahead of Moscow Exchange’s planned Dec. 1 bitcoin launch. (Bitcoin Magazine)
• Nomura is exploring a sale of its crypto unit Laser Digital, per Bloomberg. (Cointelegraph)