ETH falls below the $2500 mark

On November 4, Tron founder Justin Sun filed a lawsuit in a U.S. federal court, demanding that World Liberty Financial (WLFI), a project associated with the Trump family, and its lawyers pay $263,800 in sanctions costs. Sun alleges that World Liberty Financial submitted misleading documents in a $45 million investment lawsuit, concealing a UAE affiliate in the company's ownership chain. Justin Sun and two co-plaintiffs allege that World Liberty Financial initially listed Florida as its domicile, only revising its disclosure three months later to include 22 individuals and entities, including those related to the United Arab Emirates, and thus argued that the federal court lacked jurisdiction. Justin Sun plans to reopen the lawsuit in California state court after the sanctions application is resolved. A hearing is scheduled for December 10.

Belong.net's Long Events has launched 16 MCP tools that allow users to pay for event data API calls on the Base chain for 0.005 USDC.

On November 4th, a protocol upgrade proposal appeared on the Scroll DAO forum, suggesting that Scroll be transformed into a dedicated network for permissioned applications focused on privacy-preserving AI, and that SCR be migrated to the Ethereum mainnet. If the proposal is approved, the Scroll Foundation will lead the network upgrade and asset migration. The new network will serve an integrated AI product stack including Compass, Compass API, CENO, USX, and SCR, focusing on privacy-preserving AI interactions, secure credentials, agent workflows, and payment and computing power coordination. The SCR supply and overall token economy will remain unchanged, and it will continue to serve governance functions, with the governance scope planned to extend to USX core parameters and serve as collateral for some high-risk commitments and validators.

668 BTC (approximately $52.45 million) were transferred from Coinbase Institutional to an unknown wallet. At 17:24, 1,086 BTC (approximately $85.08 million) were transferred from an unknown wallet to Coinbase Institutional.

[Hong Kong Legislative Council Passes Crypto Asset Tax Reporting Bill, to be Implemented in 2027] The Hong Kong Legislative Council has passed the "Taxation (Amendment) (Crypto Asset Reporting Framework and Revised Common Reporting Standards) Bill 2026," which will implement the OECD's crypto asset reporting framework in Hong Kong. The framework will be implemented in 2027, requiring relevant service providers to collect specified information for the Hong Kong Inland Revenue Department to exchange with partner jurisdictions from 2028. The revised Common Reporting Standards will come into effect in 2028, and the Inland Revenue Department will automatically exchange financial account information with appropriate partners according to the new standards from 2029.