🦙 Llama News Round-Up 12 Nov - 19 Nov

News 📰

> Kalshi selects Coinbase Custody for USDC safeguarding.> China accuses USA of playing role in $13m Bitcoin theft.

Layer 1 & 2 ⛓️

DeFi 🏦

Reads 📚

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79 countries ranked. Four pillars measured. One definitive look at how crypto is reshaping the world.

> See where your country stands and who’s leading the next wave of adoption. Read the full report here.

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> Singapore leads world in crypto adoption: Bybit report

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> The State of DeFi report is here.

In collaboration with DefiLlama and DL News, this report provides a comprehensive, data-led read on DeFi in 2025 and the forces shaping its next chapter.

https://assets.dlnews.com/dlresearch/State-of-DeFi-2025.pdf

Together with DL Research and DL News, we've published the State of DeFi report, a data-led analysis of how DeFi behaved in 2025 and the trends shaping 2026.

> Check out the full report here.> Now available to DefiLlama Pro subscribers.

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🎄🦙 Happy holidays from the llamas 🦙🎄

Thanks for reading, sharing, and being part of the conversation. See you in 2026!

**DefiLlama 2025 Wrapped**e the largest open-source DeFi data aggregator.

→ This year we added 1,205 protocols to reach 6,697 total across 496 chains.

→ Our contributors shipped relentlessly. 9,139 PRs merged from 1,269 unique contributors. **We couldn't do it without you.**

→ LlamaSwap processed over $50 Billion in volume this year.

Onward to 2026!

TVL in all of DeFi is up over 200X in the past 6 years and over 6X in the past 5 years.

> Track the full breakdown here on our DAT dashboard.> 🦙 Introducing a suite of new features for LlamaAI.eports are enhanced from earlier versions and incorporate analysis from DefiLlama data, 𝕏 community sentiment, recent news, technical analysis, prediction market odds, and more.

**Trading indicators & candlestick charts**arts are now available on LlamaAI.

**Investment forecasts**e ability to construct investment forecasts based on your prompt.

**Save LlamaAI charts to Pro dashboards**rts to save them to a Pro dashboards.

**Image upload** got eyes! Now you can upload images and LlamaAI will analyze them, while incorporating DefiLlama data.

> 🔗 7-day free trials are now available for DefiLlama Pro.

These automatically include a legend, chart title, and are formatted to 16:9 for easy sharing.

> If you haven't checked out our Pro dashboard library recently, now is the perfect time to.

It includes 100s of community-created dashboards and now features a Trending section so you can see what other people are researching.

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> Inside BlockDAG’s $442m crypto maze of missing miners, unpaid employees, and breached contracts> The DefiLlama API is ideal for vibe coding crypto apps:> We asked LlamaAI to compare top Layer 1s by ecosystems, metrics, and recent updates.

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**Join our X Space on January 27 at 10AM ET (3PM UTC) as we break down the State of DeFi report.**

https://x.com/i/spaces/1ZkKzZenjjDKv?s=20

> Income Statement flow visualizations are now available on DefiLlama Pro custom dashboards.> The @ llama X account is going to share insights generated by LlamaAI.> Protocol income statements are now available on DefiLlama Pro dashboards.> Introducing the DefiLlama SDK for Python.> DefiLlama has acquired Bulletin, one of the few platforms providing structured valuation and OTC data for private crypto companies.y has the most comprehensive onchain fundamentals data. With Bulletin, we’re extending that transparency to private markets, giving investors real comparables across public tokens, protocols, and private companies.

DeFi data just became model-ready.

> Introducing Query Builder for DefiLlama Sheets.

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Onchain stocks have grown ~25x in a year, nearing $1b in value as institutional rails, exchanges, and regulators align and intersect.

Institutional-grade platforms, multi-chain settlement, and late-2025 regulatory breakthroughs are reshaping how global investors access public markets onchain.

> 🔗 Read the full report here.

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> Elon Musk’s xAi dives into crypto, tradfi amid $1tn merger with SpaceX> Introducing the new DefiLlama RWA dashboard.sferability

* Redeemability

* KYC requirements

* Self custody options

* Asset class

DeFi Active TVL represents the proportion of an asset that’s actually being used in DeFi and not sitting idle, to clearly gauge whether they’re productive.

Join us tomorrow on X at 11am EST for a discussion about RWAs and tokenization.

https://x.com/i/spaces/1gqGvrjdvbjGB?s=20

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> **Within **"Katana: Bringing ve(3,3) to the Chain Level,"iquidity wars

This is ve(3,3), extended to the base layer.

➰Emissions attract liquidity.

➰Liquidity deepens execution.

➰Execution generates fees.

➰Fees flow back to aligned voters.

➰Rewards compound into more locked KAT.

> 🌐Check out the full report here.> Our Yield Dashboard just got smarter.oefficient of variation). This measures whether a yield is consistent or inflated by short-term spikes.

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**Yield used to move capital.**

> 🔖In “Curation as an Infrastructure Layer,” we examine how kpk positions curation as the next structural layer of DeFi.ith aggregate TVL across curated strategies peaking **near $10 billion.**

**In that lies the foundation of kpk's understanding of curation.**

> 📖Check out the full report here.

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