By Shikha Singh
Pakistan Moves To Regulate Cryptocurrency, CBDCs as Legal Tender.
The State Bank of Pakistan (SBP) proposed a package of policy amendments on Nov. 4 that could legalize digital assets, including cryptocurrencies, as legal tender in the country. The proposal includes allowing state banks to issue digital currency, potentially paving the way for a central bank digital currency (CBDC)—a digital rupee. It also permits state banks to process digital payments, facilitating blockchain-based transactions and cryptocurrency trading.
The proposal still requires government approval, but if passed, it could mark a significant shift in Pakistan’s stance on cryptocurrency. The Monetary Policy Committee (MPC) had previously opposed crypto adoption, but a leadership change in March 2024 led to a more favorable outlook.
Hamster Kombat’s Player Base Plummets 85% After 3 Months.
Hamster Kombat, a tap-to-earn game on Telegram, has seen a sharp decline in both player interest and market performance. As of November 2024, the game’s monthly active users have dropped to 41 million, down from a peak of 300 million in July.
This represents a loss of 260 million players in just three months, following issues like a delayed airdrop and internal conflicts. The HMSTR token has also seen a significant drop of over 70%, falling from $0.008 in September to $0.0023.
In addition, the Hamster Kombat Telegram channel has been losing 150,000 to 200,000 subscribers daily, and the search interest for the game has plummeted. Despite plans to integrate NFTs into the game’s second season, this has failed to reignite player interest.
Michigan Pension Fund Maintains Bitcoin ETF Investment, Adds Ether ETFs.
The State of Michigan Retirement System has increased its exposure to Ether by acquiring 460,000 shares each of the Grayscale Ethereum Trust and Ethereum Mini Trust, according to a Nov. 4 SEC filing.
This adds to its earlier investment in the ARK 21Shares Bitcoin ETF, bringing the total value of its Bitcoin and Ether holdings to around $18 million.
Michigan’s pension fund is part of a growing trend where government entities, including those in South Korea and Florida, are exploring cryptocurrency investments for retirement funds.
Mt. Gox Moves $2.2 bn Worth Of Bitcoin To Unmarked Wallets: Arkham.
Mt. Gox transferred 32,371 BTC worth $2.19 billion to unmarked wallets on Monday, the largest move in months.
This involved the transfer of 30,371 BTC to one wallet, followed by a subsequent move of 2,000 BTC to a cold wallet. It’s unclear if this transfer is part of the exchange’s ongoing repayment process to creditors, though similar moves have preceded payouts via exchanges like Bitstamp and Kraken. Mt. Gox has postponed its repayment deadline to October 2025.
Japan’s SBI Expands Singapore’s Tokenization Project with New Pilots.
SBI Digital Markets (SBIDM) has strengthened its involvement in Singapore’s Project Guardian with new pilots to advance tokenized securities.
The company is developing a cross-border framework for tokenized assets and partnering with leading financial institutions to enhance liquidity and reduce costs.
SBIDM’s Fixed Income pilot is creating a network for tokenized asset-backed securities, covering both initial issuance and secondary trading.
a16z Crypto Invests $23 mn in Fairshake PACs for 2026 Midterms.
Andreessen Horowitz (a16z) has pledged over $23 million to Fairshake and its affiliated political action committees (PACs) to support the 2026 midterm elections, with the goal of advancing a practical regulatory framework for the cryptocurrency industry.
The firm is working to build bipartisan support for balanced crypto regulation that protects consumers while encouraging innovation.
This move is part of a broader effort to engage lawmakers from both parties and highlight the potential of the crypto industry under clear, consistent regulations.
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