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From Singapore to Dubai, from Solana to Bybit, here are the crypto stories you may have missed this week.
Asia crypto ownership may be near 25%: Report
A joint report by Protocol Theory and CoinDesk stated that further adoption is hindered by the complexity of crypto wallets and exchanges, which are often more difficult to use than traditional digital banking. The findings were based on a survey of 4,020 people with internet access across 10 countries.
Growth is currently spurred by a lack of access to traditional financial services, with 18% in emerging markets using stablecoins. The report stated that clear use cases and supportive regulations are crucial for future growth, as most adults in emerging economies view rules as important for trust.
Dubai court freezes $456 million in stablecoin case
A judge in the Dubai International Financial Centre continued a worldwide freezing injunction against Aria DMCC, prohibiting the firm from moving or disposing of the assets. The order will remain in place until the court issues a further directive.
The case stems from a lawsuit by Techteryx Ltd, the owner of the TrueUSD stablecoin, which alleges its reserve funds were improperly diverted to Aria. Court filings indicate Tron founder Justin Sun, listed as an alleged beneficial owner of Techteryx, filled the gap in the stablecoin’s reserves
Singapore to regulate stablecoins, expand CBDC trials
The Monetary Authority of Singapore will soon prepare draft legislation focused on sound reserve backing and redemption reliability, its managing director said. Chia Der Jiun stated Thursday that robust regulation is critical to underpin stability and prevent runs, noting the “patchy record” of unregulated tokens.
The moves are part of a broader digital asset framework that includes expanding tokenization pilots under Project Guardian, which has tested tokenized assets since 2022. The financial regulator will also publish a guide on tokenizing capital markets products to clarify how they fit under existing rules.
UK jails ‘Crypto Queen’ for 11 years
Qian Zhimin was sentenced to 11 years and eight months for laundering billions stolen from over 120,000 Chinese pensioners. The judge at Southwark Crown Court called her motive “one of pure greed,” noting she masterminded the £4.2 billion (now £5 billion) fraud, which fronted as a health tech and crypto mining company.
Zhimin fled China in 2017 and was found living in a London mansion under a fake identity after an attempt to buy property raised suspicions. A police raid led to the UK’s largest-ever crypto seizure, with tens of thousands of Bitcoin found on hard drives. Victims have reportedly expressed hope that UK authorities will return the funds.
Philippines arrests three in crypto scam
The Bureau of Immigration (BI) said its Fugitive Search Unit apprehended the Chinese nationals at a Manila hotel on November 7. The group allegedly operated their fictitious investment scheme, which targeted investors in Hong Kong, from a hotel room in Sta. Cruz.
Two of the suspects were found to be overstaying, and none of the foreigners could present valid immigration documents, the BI said. They are currently held at a BI facility in Taguig City while awaiting deportation proceedings.
Russians held in UAE crypto couple murder
Roman Novak, 38, and his wife Anna were lured to a meeting in Dubai’s Hatta resort last month with individuals posing as investors, according to reports citing law enforcement. The couple was allegedly extorted for cryptocurrency before being killed and dismembered.
Three Russian suspects, including a 53-year-old former homicide investigator and two former soldiers, were detained in Russia. Novak himself was reportedly under investigation for the alleged theft of over £38 million from crypto investors and had previously served a prison sentence for embezzlement.
Bybit finds 16 blockchains can freeze funds
A report by Bybit’s Lazarus Security Lab identified three types of intervention mechanisms: hardcoded functions, configuration-based settings, and on-chain system contracts. The analysis, which reviewed 166 networks, also found 19 other chains could introduce such features with minor changes.
These functions serve as emergency tools to contain hacks, such as Sui freezing $162 million in stolen assets and BNB Chain containing a $570 million bridge exploit. The study urged projects to be transparent about these safety mechanisms to build user trust.
Solana user activity wanes as memecoin fades
The number of active addresses on the network fell to a 12-month low of 3.3 million, a significant drop from a peak of over 9 million in January. The surge in late 2024 was driven by Solana’s low costs and high speeds, which made it a dominant chain for memecoin launches.
Despite the decline, the token launchpad pump.fun continues to generate over $1 million daily, and the network’s total value locked in DeFi stands at $10 billion. Developers are expanding infrastructure, including new exchanges and real-world asset protocols, to establish more durable foundations.
This article is published on BitPinas: Crypto News Catch Up | Nov. 9 – 15, 2025
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