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Odaily Planet Daily reports that DeFiance Capital CEO Arthur Cheong posted on X this morning, stating that the product design and market structure of crypto derivatives (especially perpetual contracts) remain the biggest structural problems facing the industry. Without improvement, it will be difficult to support the industry's sustainable growth. Wintermute founder Evgeny Gaevoy responded that traditional finance has long since solved these shortcomings, so the real problem lies not in the design of perpetual contracts, but in centralized and pseudo-decentralized exchanges that combine the functions of execution brokers, central limit order books (CLOBs), and custodians.

Odaily Planet Daily reports that the public sale of Monad (MON) tokens on the Coinbase platform began at 10 PM Beijing time on November 18th. Scott Shapiro, Coinbase's Product Director, stated that the subscription rate reached 45% approximately six hours after the sale started, with nearly half of the subscription amount completed within the first half hour. As of now, the Monad public sale has raised approximately $90.05 million, representing about 48% of the planned total issuance. The public sale aimed to raise approximately 187 million USDC, with a maximum bid of 100,000 USDC and a minimum bid of 100 USDC. (The Block)

CoinVoice has learned that Hourglass announced on its X platform that the second phase of the Stable pre-deposit program's excess refund program is now open, and users can apply for refunds through the Merkl platform. Furthermore, Hourglass stated that the first $1,000 of each deposit in the second phase will be fully accepted, with approximately 45% of the amount exceeding $1,000 being included in the deposit, and the remaining 55% being refunded. Previously, it was learned that over 24,000 wallets (with a total deposit of approximately $1.74 billion) successfully passed the initial wallet screening for the second phase of the Stable pre-deposit program.

According to a BusinessWire report on November 18th, Swiss crypto bank AMINA (Hong Kong) Limited has received a Type 1 license upgrade from the Hong Kong Securities and Futures Commission (SFC), becoming the first international banking group to offer cryptocurrency spot trading and asset custody services to professional investors in Hong Kong. The services cover 24/7 trading, custody, and crypto asset deposits and withdrawals to whitelisted addresses. Initially, it supports 13 crypto assets (including BTC, ETH, USDC, USDT, and mainstream DeFi tokens) and utilizes SOC1/2 Type 2 level infrastructure. AMINA stated that it will subsequently expand to private equity fund management, structured products, derivatives, and RWA tokenization, targeting institutional, corporate, and high-net-worth clients.