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Cryptocurrency News Recap: Key Highlights from the Week

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This week’s cryptocurrency highlights cover pivotal events from major players like Binance and Kalshi, alongside noteworthy innovations from Sony and OpenAI. Let’s dive into the key news stories you might have missed!

CZ and Peter Schiff Clash Over Bitcoin’s Economic Value at Binance Blockchain Week

In a riveting debate during the Binance Blockchain Week, Changpeng Zhao (CZ), the CEO of Binance, engaged with prominent gold advocate Peter Schiff over the economic significance of Bitcoin. Schiff firmly argued that Bitcoin does not generate any tangible economic value and merely serves to facilitate wealth transfer among buyers and sellers.

Schiff cited the creation of approximately 20 million BTC over the last 15 years, claiming that this influx has failed to enhance global economic welfare. He remarked that while current holders might see gains on paper, actual losses could be realized when they finally sell.

In an interesting twist, Bord Tic represented Schiff’s views. As a symbolic rebuttal to his skepticism, he was presented a gold bar on stage. In contrast, CZ and other industry insiders articulated that Schiff’s perspective underestimates Bitcoin’s role as a global settlement network and store of value. They highlighted its use in cross-border payments, increasing institutional adoption, and the development of new financial infrastructures, all emphasizing that Bitcoin contributes far more than mere speculative price actions.

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Kalshi Collaborates with CNN Following $1 Billion Funding Round

Kalshi, a prediction markets platform, has officially become the prediction market partner for CNN after securing an impressive $1 billion in its Series E funding round, pushing the company’s valuation to $11 billion.

This partnership is historic; CNN is the first major news organization to utilize Kalshi’s innovative prediction markets. Under this collaboration, CNN will integrate Kalshi’s real-time probabilities into its broadcasts, featuring a live ticker in the newsroom that supports the reporting of significant political, economic, and cultural events.

The funding was led by Paradigm, with illustrious participation from firms like Sequoia Capital, Andreessen Horowitz, and ARK Invest. Additionally, Kalshi has noticed record trading volumes, reporting $4.54 billion in November alone—a staggering 1,000% increase since 2024, surpassing its competitor Polymarket.

CEO Tarek Mansour emphasized that Kalshi’s platform accurately reflects public sentiment through market pricing rather than speculation. However, the company is under scrutiny as it faces a nationwide class-action lawsuit alleging it operates unlicensed sportsbooks. Despite the legal challenges, Kalshi has not admitted any wrongdoing.

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Binance Launches Junior Crypto Accounts for Young Investors

Binance recently unveiled Binance Junior, a specialized savings account that allows parents to invest in crypto on behalf of their children aged between six and 17 years old.

These sub-accounts give parents complete control, enabling them to link up to five Junior accounts and transfer funds from their primary Binance account or external wallets. Notably, children have restrictions; they can only transfer funds back to their parents or to other Junior accounts, with a daily transfer limit of $400, and are not permitted to trade or withdraw on-chain.

This initiative not only aims to cultivate crypto literacy among the younger generation but also encourages sound financial habits. The funds can earn interest through Binance’s Junior Flexible Simple Earn product, applicable in select regions. Binance describes it as a “family-centric app” designed to prepare the youth for a digitally integrated financial landscape, while industry experts assert that it will help the exchange attract a tech-savvy customer base in the future.

Sony Bank Sets Its Eyes on a U.S. Dollar-Pegged Stablecoin for Entertainment Payments

Sony Bank is gearing up to introduce a U.S. dollar-pegged stablecoin in fiscal 2026, targeting payments for its vast array of games, anime, and subscription services, as reported by Nikkei.

The bank plans to establish a dedicated U.S.-based unit and has partnered with stablecoin issuer Bastion to leverage its infrastructure for this innovative venture. This move aims to minimize transaction costs associated with credit card payments, enhancing Sony’s digital payment ecosystem—particularly for American consumers, who constitute over 30% of the company’s external sales.

This initiative follows the earlier launch of Sony Block Solutions Labs’ Ethereum Layer 2 network, named Soneium, which was developed to support content creators, fans, and communities alike.

Judge Orders OpenAI to Release 20 Million Chat Logs Amid Copyright Dispute

In a significant legal ruling, a federal magistrate judge in Manhattan has ordered OpenAI to produce 20 million anonymized ChatGPT conversation logs to The New York Times and other news publishers. The judge’s decision, which became public this Wednesday, rejected OpenAI’s attempts to withhold this data, affirming its importance as evidence in a pivotal copyright lawsuit.

Publishers involved assert that these logs are essential for demonstrating that OpenAI’s AI model unlawfully reproduces their copyrighted material and challenges OpenAI’s claim of “fair use.” OpenAI expressed strong opposition to the request, warning that sharing such a large volume of user interactions could pose considerable privacy risks and that a staggering 99.99% of the logs would be irrelevant to the case.

However, Judge Ona T. Wang dismissed these privacy concerns, concluding that the existing protective orders and de-identification protocols offered sufficient safeguards. She mandated OpenAI to produce the sanitized records within a week of completing the anonymization process.

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This article is published on BitPinas: Crypto News Catch-Up | Nov. 30 to Dec. 06, 2025

What else is happening in the world of cryptocurrency in the Philippines and beyond?

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