[Google Adjusts Ad Tech Services to Address EU Antitrust Penalty] U.S. company Google announced it will adjust its advertising technology services in response to the antitrust penalty decision made by the EU, aiming to avoid the risk of being forced to split in the European market.
**[Gate Research Institute Report: October Web3 Financing Reaches $5.12 Billion, Up 104.8% Month-on-Month]** Gate Research Institute released the report *"Panoramic Analysis of Web3 Financing in October 2025"*, revealing that the Web3 financing market in October completed 130 transactions, totaling $5.12 billion, a month-on-month increase of 104.8%, marking the second-highest level in the past year. Strategic round financing accounted for over 70%, primarily driven by the explosion of prediction markets and the accelerated integration of CeFi and TradFi. Polymarket led with $2 billion in strategic financing, while the DeFi sector secured $2.15 billion in funding. In the stablecoin infrastructure field, Tempo completed a $500 million Series A financing. Financing amounts were concentrated in the $3–10 million range, accounting for over one-third, while small-scale financing accounted for only 5.9%. Capital flowed toward mature teams and actionable solutions, signaling the industry’s entry into a new cycle of steady growth.
**[BitMEX Research: Strategy's Debt Instrument Design is Unique and Will Not Lead to Forced Bitcoin Sell-offs]** On November 15, BitMEX Research published an analysis of Strategy's $3 billion debt instrument, Stretch. Stretch maintains price stability by adjusting the dividend rate monthly. Strategy can abandon the price stability target and reduce the dividend by up to 25 basis points per month. The current dividend rate of 10.5% may drop to zero within three and a half years, with payment costs decreasing as the dividend rate declines. Dividend payments remain sustainable and affordable. BitMEX Research pointed out that Strategy's innovative debt instrument design will not lead to forced Bitcoin sell-offs, causing a price spiral or bankruptcy. Michael Saylor has utilized this innovative mechanism to raise funds for the company. Regardless of Bitcoin's price or capital flows, Strategy can remain stable.
[Balancer Hacker Begins Transferring ETH to Tornado Cash] On November 15, Onchain Lens monitoring showed that the Balancer hacker has started transferring ETH to Tornado Cash.
[Hourglass Stable Deposit Phase 2 Concludes, Over $1.1 Billion Allocated] Hourglass announced that the second phase of the Stable deposit campaign has concluded, with over 10,000 verified wallets contributing more than $1.1 billion in eligible deposits. The second phase utilized a proportional allocation mechanism, offering a minimum guaranteed quota of $1,000. The first $1,000 of each deposit was allocated at a 100% ratio, while the portion exceeding this amount was allocated proportionally. The allocated funds are expected to be returned by the end of the year. Currently, the funds are being transferred to the Anchorage custody platform, with $500 million to be allocated through top-tier investment banks. Further announcements will be released in due course.
[Stanley Huang's 25x Leveraged ETH Long Position Faces $1.825 Million Unrealized Loss] On-chain data shows that Stanley Huang (Machi) holds a 25x leveraged ETH long position with a liquidation price of $3,042.95 and a mark price of $3,186.7, currently facing an unrealized loss of $1.825 million. Additionally, a whale who opened long positions before ETH's sharp drop has two positions with a total value of $47.14 million. Among them, the address 0x958...a0605 closed its position three hours ago, incurring a loss of $2.735 million, while another address is currently facing an unrealized loss of $1.464 million.