Integrity Ledger — Market Pressures, Cyber Breach Fallout & Global Power Moves | Nov 23, 2025

Welcome to The Integrity Ledger — from surging Thanksgiving prices to SEC backlogs, crypto shakeups, and an alarming Salesforce-linked breach, here’s what’s shaping markets and accountability today.

A new report reveals Thanksgiving staple prices have risen by 10% over the past year, outpacing overall inflation more than threefold. While President Trump claims grocery prices are down based on Walmart's smaller Thanksgiving meal offering, official data shows a 2.7% rise in at-home grocery costs. The price hikes are largely attributed to Trump’s tariffs, affecting items like poultry, pork, and key sides such as onions and cranberry sauce.

The surge in food prices exacerbates the mounting affordability crisis for American families, who are shrinking their holiday purchases. Rising costs of steel, fertilizer, and feed due to tariffs may continue to pressure prices through the holiday season and beyond, posing ongoing challenges for consumers and retailers alike.

Raw Story

The US IPO market is cooling as a government shutdown and a backlog at the SEC delay approvals, pushing many expected 2025 listings into 2026. Recent IPOs have shown limited gains amid investor caution and a tech sector sell-off, with Central Bancompany raising $373 million post-shutdown. Large listings like Medline and BitGo remain possible by year-end despite market headwinds.

The SEC backlog and tech stock pressure are likely to extend IPO delays, affecting investor sentiment and timing for new listings. Investors may seek alternative opportunities as volatility persists, while lawyers and bankers prepare for a surge in filings in early 2026.

The Times Of India

XRP Tundra confirmed ongoing institutional negotiations leading to an accelerated public launch on December 15, 2025. The project will maintain a final retail token allocation priced at $0.01 before shifting to institutional pricing as part of a structured acquisition involving ecosystem funding and multi-exchange onboarding.

The institutional partnership enhances XRP Tundra's development capacity and infrastructure, signaling increased market confidence and scaling potential. Investors have a final retail window at the established price, after which institutional terms will govern pricing and access.

Benzinga

Pi Network’s prolonged mainnet delay has dampened enthusiasm among its 47 million users, leaving its token value uncertain due to lack of exchange listings and liquidity. Meanwhile, Bitcoin Hyper (HYPER), an Ethereum Layer 2 project with a live staking system and active on-chain performance, is attracting traders seeking tangible utility and immediate rewards.

The hold pattern around Pi highlights shifting investor preferences toward projects delivering measurable utility and transparency. Bitcoin Hyper’s instant staking and low transaction costs position it well to capture capital flows favoring scalable, functional blockchain solutions.

OpenPR

Amazon is issuing automatic refunds to millions of U.S. Prime customers after settling with the FTC for $2.5 billion over allegations of enrolling users without clear consent and complicating cancellations. The settlement requires $1.5 billion in customer payments and a $1 billion civil penalty, with refunds up to $51 issued via PayPal, Venmo, or check through December 2025.

This settlement sets a precedent for increased regulatory scrutiny of online subscription practices. It underscores the importance of transparent enrollment and cancellation processes, pressuring other tech firms to comply. Affected customers gain direct financial redress, while companies must improve consent and user controls to avoid similar penalties.

Newsweek

AI applications in mental health are rapidly expanding, yet current state laws offer fragmented and incomplete regulatory coverage. This article presents a twelve-category policy framework designed to guide lawmakers in creating comprehensive and effective regulations for AI-driven mental health guidance, addressing crucial issues such as safety, data privacy, transparency, and enforcement.

Policymakers and regulators can use this framework to avoid legal gaps and inconsistent rules across states, promoting safer and more accountable AI mental health applications. Clear standards in licensing, data protection, and crisis management are vital to protect vulnerable users and foster trust as AI integrates into therapeutic settings.

Forbes

Google confirmed a large-scale supply chain attack compromised Salesforce data of over 200 companies through Gainsight applications. The cybercrime group Scattered Lapsus$ Hunters, including ShinyHunters, claimed responsibility and plans to launch an extortion website targeting the victims. Affected firms like CrowdStrike, Verizon, and DocuSign deny data exposure, while others continue investigating.

This breach highlights ongoing risks in third-party app integrations within enterprise ecosystems and underscores the importance of rigorous supply chain security measures. Organizations using Salesforce and related platforms should review access controls and monitor for unusual activity to mitigate further data exposure.

The Times Of India

Nvidia CEO Jensen Huang stated that the US stock market failed to appreciate the company’s strong Q3 2025 results, citing fears of an AI bubble. The chipmaker reported a 65% year-on-year revenue increase to $31.9 billion, driven primarily by $51.2 billion from its data centre division. Huang described a no-win scenario where a weak quarter would confirm a bubble, while a strong one would supposedly fuel it.

Nvidia’s outlook, including a projected $500 billion semiconductor revenue by end-2026, underscores AI chip demand despite market skepticism. Investors should consider Nvidia’s growth potential carefully amid volatile sentiment surrounding AI valuations.

Mint

PTI leader Taimur Saleem Jhagra condemned judicial corruption and institutional distrust as major barriers to foreign investment in Pakistan. He referenced the IMF’s recent Governance and Corruption Diagnostic Assessment report, which highlights systemic corruption across state institutions and calls for a 15-point reform agenda. The report specifically criticizes the judiciary's inefficiency and political influence over anti-corruption bodies like the National Accountability Bureau.

The IMF findings underline risks deterring foreign investors due to concerns over judicial integrity and political interference in anti-corruption efforts. Addressing these weaknesses is critical for Pakistan to improve investor confidence and stimulate economic growth. Without substantive reforms, persistent corruption may continue to hamper capital inflows and broader institutional trust.

Dawn

India’s health insurance sector suffers losses of Rs 8,000–10,000 crore each year due to fraud and waste, according to a Boston Consulting Group and Medi Assist report. Fraudulent claims, especially in mid-ticket reimbursements between Rs 50,000 and Rs 2.5 lakh, drive up premiums and destabilize insurers while diverting public health funds. The report calls for stronger detection, standardized coding, and AI-powered oversight to combat abuse.

Fraudulent claims inflate costs for insurers and policyholders, increasing out-of-pocket expenses for patients. Implementing AI-driven monitoring and connected data platforms can improve claim verification, enhance insurer stability, and help maintain affordable healthcare access across India.

The Economic Times

At COP30 in Brazil, world governments agreed on a compromise climate deal boosting finance for poor nations to adapt to climate change while omitting fossil fuel mentions due to resistance from oil-exporting nations. The Belem deal aims to triple funds by 2035, highlighting the urgency but leaving fossil fuel phase-out discussions to a side text.

Dawn

Trump’s 28-point plan to end the Ukraine war offers concessions to Russia, including US recognition of Crimea, Luhansk, and Donetsk as de facto Russian, barring Ukraine from NATO, and lifting Russian sanctions. The plan, drafted without consulting Ukraine or Europe, risks emboldening Putin and leaving Europe less secure amid Ukraine's weakened position.

The Indian Express

The U.S., Ukraine, Germany, France, and the UK will hold talks in Geneva to negotiate the new U.S. peace plan for Ukraine, led by Secretary of State Marco Rubio. The plan demands Kyiv concede territory, reject NATO membership, and offer amnesty to Russians, while promising a security guarantee modeled on NATO's Article 5. Ukrainian and European leaders are involved amid shocks and ongoing diplomatic efforts ahead of a Thanksgiving deadline.

Axios

Brazil’s former president Jair Bolsonaro was taken from house arrest into police custody to prevent escape amid his appeal against a 27-year sentence for a failed coup attempt. Supreme Court judge Alexandre de Moraes cited Bolsonaro as a high flight risk after an attempted tampering with his ankle monitor. Bolsonaro’s lawyers warn that imprisonment could pose serious health risks due to his medical conditions.

Bangkok Post

Delhi Police dismantled an ISI-linked international arms smuggling ring, arresting four and seizing 10 high-end pistols, including Turkey-made PX-5.7 and China-made PX-3 models, plus 92 live cartridges. The network used drones for cross-border infiltration, with the bust linked to investigations of the Red Fort blast and Faridabad terror module. This crackdown disrupts sophisticated arms trafficking potentially aimed at regional destabilization.

The Economic Times

Stay sharp, stay ethical, and keep following the money.
— The Integrity Ledger Team