BitMine's aggressive ETH acquisition strategy could significantly influence Ethereum's market dynamics and its role in future financial systems.

The post Tom Lee’s BitMine may have scooped up another 41,946 ETH appeared first on Crypto Briefing.

Aster's token burn and airdrop strategy could enhance scarcity and long-term value, potentially boosting investor confidence and market stability.

The post Aster burns 77.8M tokens and moves 77.8M to locked airdrop wallet appeared first on Crypto Briefing.

Increased Bitcoin investments by lawmakers may signal growing institutional acceptance and influence future regulatory and market dynamics.

The post Rep. Marjorie Taylor Greene increases Bitcoin exposure during market dip appeared first on Crypto Briefing.

CNBC partners with Kalshi to bring real time prediction market data into its coverage, enhancing reporting with market-driven forecasts.

The post Kalshi partners with CNBC to bring real-time prediction markets into financial news appeared first on Crypto Briefing.

Base launches Solana bridge using Chainlink CCIP and Coinbase infrastructure, enabling SOL and SPL tokens to move into Base apps.

The post Base launches Solana bridge to expand cross-chain liquidity powered by Chainlink appeared first on Crypto Briefing.

Bitcoin Magazine

Bitcoin Treasury Twenty One Capital to Start Trading on NYSE Next Week With $4 Billion BTC Treasury

Bitcoin treasury firm Twenty One Capital will start trading on the New York Stock Exchange on December 9. The company will use the ticker symbol XXI.

Twenty One Capital is the result of a merger with Cantor Equity Partners (CEP). CEP shareholders approved the deal, clearing the way for the transaction to close around December 8. The merged entity will operate under the Twenty One Capital name.

The company will launch with about 43,514 BTC. At current prices, that is roughly $4 billion. This will make Twenty One Capital the largest BTC treasury company listed on the NYSE. Globally, it will be the second-largest corporate BTC holder after Strategy.

The firm was first announced in April as a joint venture between Tether, Bitfinex, SoftBank, and Cantor Fitzgerald. The name refers to Bitcoin’s total supply of 21 million coins, of which about 19.95 million have been mined.

Jack Mallers, CEO and co-founder of Twenty One Capital, posted on X, “Game on. See you at the NYSE on Tuesday.”

In July, the company added 5,800 BTC from Tether to its treasury. Combined with initial holdings, Twenty One Capital will hold more than 43,000 BTC at launch. The firm plans to continue growing its BTC holdings as part of its core strategy.

Pre-merger, Cantor Equity Partners raised $585 million through Private Investment in Public Equity (PIPE) financing. Twenty One Capital also sold $100 million in convertible notes. Part of these funds were used to increase the Bitcoin treasury.

Direct bitcoin exposure on Wall Street

Twenty One Capital’s model focuses on giving investors direct exposure to BTC through its corporate balance sheet. The company will introduce a metric called Bitcoin Per Share.

It shows the amount of BTC held per share. The measure relies on on-chain proof-of-reserves. This gives investors a verifiable reference to track Bitcoin holdings in real time.

The company aims to differentiate itself from other digital asset treasury firms. While competitors like Strategy and Metaplanet operate multiple businesses, Twenty One Capital is designed to focus solely on Bitcoin accumulation and related services.

Tether and Bitfinex remain majority shareholders and support the firm’s public listing. Cantor Fitzgerald provides expertise in investment banking and capital markets. 

CEP offered the SPAC vehicle to complete the merger and bring the company to the NYSE.

Upon its debut, Twenty One Capital will become a key player in publicly listed BTC treasuries. Its treasury, trading structure, and Bitcoin Per Share metric aim to provide a new model for investors seeking exposure to BTC.

The company plans to expand services connected to Bitcoin, including payments and infrastructure. CEO Jack Mallers has said his main goal is to increase Bitcoin per share, reinforcing shareholder value.

Shares of Twenty One Capital are expected to start trading on December 9 under the ticker XXI, one day after the merger closes. 

This post Bitcoin Treasury Twenty One Capital to Start Trading on NYSE Next Week With $4 Billion BTC Treasury first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Italy Launches Review of Crypto Safeguards Due to Rising Risks

Italy’s Economy Ministry has ordered a detailed review of current protections against crypto risks, officials said on Thursday. 

The review will focus on safeguards for both direct and indirect investments in crypto-assets by retail investors, regulators added.

The decision came during a meeting of the Committee for Macroprudential Policies. The committee includes the heads of the Bank of Italy, market watchdog Consob, insurance and pension regulators, and the Treasury’s director general, according to Reuters reporting. 

Committee members warned that risks from crypto-assets could rise. Growing connections between crypto and the wider financial system, along with inconsistent international regulations, could heighten vulnerabilities, they said.

The committee said Italy’s economic and financial conditions remain generally stable. At the same time, global uncertainty continues to pose challenges for financial stability.

The review will examine how existing rules protect investors and the financial system. Officials said they aim to identify gaps and recommend measures to strengthen safeguards, per Reuters. 

Italy has increasingly monitored digital assets in recent years. Authorities have raised concerns over investor protection, market integrity, and potential spillovers into the broader financial system. The new review signals a more cautious approach to crypto adoption in the country.

Italy’s cold-shoulder to crypto

Last year, Italy proposed a steep tax hike on crypto trades, aiming to raise the rate on digital asset gains from 26% to 42% as part of its October budget plan.

The measure was designed to boost public finances but quickly drew criticism from the crypto industry, which warned that such an aggressive increase would damage the country’s competitiveness — especially with the EU preparing to roll out its Markets in Crypto-Assets (MiCA) framework later this year.

The government backed down from its proposal after sharp criticism from Italy’s crypto industry. Under the revised budget plan, the capital-gains tax on digital asset trades is now expected to rise to 33% starting in the 2026 financial year, per reports. 

Last week, Bitizenship launched BTC Italia and The Bitcoin Dolce Visa, a Bitcoin-aligned pathway for obtaining Italy’s Investor Visa through a €250,000 startup investment.

The Milan-based venture operates as an “Innovative Startup” focused on Bitcoin Layer-2 yield generation and treasury management, giving applicants exposure to a Bitcoin-native business while staying within Italy’s regulatory framework.

The initiative comes as Italy posts strong economic performance, including record exports, a €46 billion trade surplus, stabilizing public debt, and a stock market that has doubled since 2020. With capital-market reforms on the horizon and competitive tax incentives, the country has become an increasingly attractive destination for foreign investors.

Under the program, applicants receive visa approval before committing funds. BTC Italia maintains its treasury in Bitcoin, uses non-custodial Layer-2 staking for operations, and offers redemption windows every 24 months.

This post Italy Launches Review of Crypto Safeguards Due to Rising Risks first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

2012 Video Resurfaces of Coinbase CEO Brian Armstrong Pitching What Became America’s Largest Bitcoin Exchange

A video has surfaced showing Coinbase CEO Brian Armstrong rehearsing a pitch in 2012, years before the company became the largest Bitcoin exchange in the U.S.

In the recording, Armstrong lays out a simple argument: Bitcoin is a digital currency that can move money instantly anywhere in the world. But it’s hard to use. Tools were clunky, backups were tricky, and users could easily lose their funds. 

Coinbase, he said, would fix that. The platform would act as a hosted wallet, letting anyone access their money from any device without worrying about security or backups.

Armstrong compares his plan to what iTunes did for music. He emphasizes the early growth: sign-ups and transactions increasing “20 % a day,” and $65,000 in Bitcoin payments were processed in just five weeks.

The pitch is short, under three minutes, and candid. Armstrong discussed fees, competition, and the potential of Bitcoin as a global payment system. It’s a glimpse at the early vision of a company few outside crypto had heard of.

Coinbase: Don’t get ‘left behind’

It’s safe to say that Armstrong’s idea was a success. More than a decade later, Coinbase is the top U.S. exchange, handling billions in Bitcoin transactions and shaping how Americans interact with digital assets. 

That scrappy 2012 rehearsal captures the first hints of a company that would grow into a crypto powerhouse.

Just yesterday, Armstrong sat beside BlackRock CEO Larry Fink and said that all major U.S. banks that ignore stablecoins risk being “left behind.” 

Speaking at the New York Times DealBook Summit, Armstrong said that several top banks are running pilot programs with Coinbase for stablecoins, crypto custody, and trading.

Armstrong acknowledged a split within traditional finance: some institutions’ lobbying arms resist crypto, while innovation teams explore it. 

“This is the classic innovator’s dilemma,” he said, noting banks must choose between embracing or fighting new technology. On concerns about capital flowing to stablecoins, Armstrong said banks are mainly focused on protecting profit margins.

Fink, once a bitcoin skeptic, said he now sees a “huge use case” for Bitcoin and worries the U.S. is falling behind in stablecoin innovation. 

Armstrong has championed crypto to the U.S. government. He has lobbied and pushed for clearer regulations for the crypto industry.

Armstrong supported legislation like the CLARITY Act to set legal clarity. He launched grassroots efforts, including Stand With Crypto. He has also spent millions on campaigns through PACs like Fair Shake. 

This post 2012 Video Resurfaces of Coinbase CEO Brian Armstrong Pitching What Became America’s Largest Bitcoin Exchange first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Jack Mallers’ Twenty One Capital Wins Approval for CEP Merger, Poised for Public Debut on Nasdaq

Twenty One Capital, Inc. (“Twenty One”) led by CEO Jack Mallers and Cantor Equity Partners, Inc. (“CEP”) announced on the 3rd of December that their shareholders approved the combination of the two businesses, meaning that Twenty One is set to go public very soon.  

The vote is expected to have received a lot of attention from retail shareholders, as the  Mallers announced it on their podcast to more than 43 thousand subscribers and their X with half a million followers.  The vote took place at the Extraordinary General Meeting of CEP’s shareholders, who approved the previously announced proposed business combination between the parties as well as all other proposals related to the Business Combination.

“The final voting results for the Meeting will be included in a Current Report on Form 8-K to be filed with the Securities and Exchange Commission by CEP,” according to a press release published by the company. 

Subject to the satisfaction of other closing conditions described in the CEP’s definitive proxy statement and Twenty One’s final prospectus, the consummation of the related transactions should take place in the coming days, leading to Twenty One Capital, Inc. and its Class A common stock to start trading on the NYSE with the symbol “XXI” on December 9th, 2025.

The company is expected to exit its “quiet period” after this point and make a series of announcements about the future of the business. XXI announced earlier this year that it had received investment from Tether and Softbank, leading to the purchase of 42,000 bitcoins, which will position it as one of the largest public owners of the asset and is expected to unlock new financial service offers for Strike customers, Jack’s growing Bitcoin financial services app, and Cash App competitor. 

You can read the full press release on the vote here for full disclaimers and details.

This post Jack Mallers’ Twenty One Capital Wins Approval for CEP Merger, Poised for Public Debut on Nasdaq first appeared on Bitcoin Magazine and is written by Juan Galt.

Bitcoin Magazine

CFTC Opens Door for Spot Bitcoin and Crypto Trading in U.S. Markets

The CFTC is opening the door for federally regulated spot crypto trading in the U.S. for the first time, with Bitnomial’s exchange opening up next week. 

Acting Chairman Caroline Pham announced that listed spot crypto products will trade on CFTC-registered exchanges, marking a major milestone in the effort to bring digital asset trading to the United States and under full federal oversight.

The announcement coincides with the launch of Bitnomial, Inc., a U.S.-based derivatives exchange, which will operate the first-ever leveraged retail spot crypto exchange under CFTC regulation. 

Bitnomial’s Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) will allow both retail and institutional traders to trade spot, perpetuals, futures, and options on a single platform. 

Unified portfolio margining and net settlement eliminate redundant margin requirements, boosting capital efficiency and reducing counterparty risk.

“Leveraged spot crypto trading is now available under the same regulatory framework as U.S. perpetuals, futures, and options,” said Luke Hoersten, founder and CEO of Bitnomial. “Broker intermediation and Clearinghouse net settlement provide the capital efficiency traders need. We’re bringing leveraged spot crypto trading back to the U.S. with CFTC oversight.”

Pham emphasized that the new framework gives Americans a safer alternative to offshore platforms, which have often been described as the “wild west.” 

Speaking on Fox News, she highlighted the collapse of FTX as a cautionary tale, noting that many investors lost out due to a lack of regulatory protections.

 “Not only do we want Americans to come back home to trade where they have the protections they deserve, but this also encourages U.S. companies to invest, build, and hire here,” Pham told Fox Business.

Under the new system, all orders—retail and institutional—will receive equal treatment. There is no preferential routing, no informational advantage, and equal access to liquidity, a structure long sought by industry participants.

For brokers and institutions, the move resolves longstanding compliance challenges related to state money transmitter rules, finally providing access to a federally regulated spot market.

The launch represents the culmination of Pham’s pro-innovation leadership at the CFTC. By recognizing that retail commodity transactions can be offered on a DCM and cleared through a DCO, the agency has created a compliant pathway for domestic leveraged spot crypto trading. 

United States as a global crypto leader

This approach aligns with broader goals to make the U.S. a global hub for digital asset markets while maintaining investor protections. The convergence of spot, perpetuals, futures, and options on a single platform also transforms capital efficiency for traders.

 Rather than maintaining fully collateralized positions across multiple venues, they can now offset risk across all product types on one exchange.

The Bitnomial platform is scheduled to go live the week of December 8, 2025. Pham called it a “historic milestone” for U.S. crypto markets and a key step in establishing the country as a leader in digital asset innovation. 

CFTC greenlights Polymarket

Earlier this week, Polymarket, the crypto-based prediction market platform, launched a U.S.-focused app today after receiving CFTC approval, ending nearly four years of restrictions on American users.

Polymarket bypassed the traditional multi-year CFTC registration by acquiring QCEX, a registered platform, for $112 million, and received a no-action letter in September to resume U.S. operations.

The platform upgraded its systems to meet CFTC requirements, including enhanced surveillance, clearing procedures, and regulatory reporting. 

It now supports direct Bitcoin deposits alongside stablecoins and has attracted potential investor interest, including a possible $2 billion investment from Intercontinental Exchange.

The CFTC was created in 1974 to regulate derivatives markets like futures, options, and swaps. Its mission is to oversee markets, prevent abuses, and protect customer funds. The agency monitors exchanges, trading platforms, and intermediaries, while its Division of Enforcement investigates violations.

This post CFTC Opens Door for Spot Bitcoin and Crypto Trading in U.S. Markets first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

On Dec. 3, CryptoQuant CEO Ki Young Ju made the feared call that “most Bitcoin on-chain indicators are bearish.”

He added, “Without macro liquidity, we enter a bear cycle.”

The CEO was explicit. He tied his argument to his firm’s composite on-chain dashboards and a global-liquidity framework, framing the November drawdown not as a healthy correction but as the opening act of a new secular downtrend.

The question is whether on-chain data and the liquidity backdrop actually support a bear cycle thesis, or whether Ki is reading stress signals in a bull market as the start of crypto winter.

The case for a new bear cycle

CryptoQuant’s metrics, such as Bull Score, MVRV, miner flows, and stablecoin liquidity, signal a new bear-market cycle. The numbers compare with the first quarter of 2022, which Glassnode also reported on Dec. 3.

Additionally, high realized losses, declining liquidity, and a break below short-term holder cost basis add to the stressful scenario.

Starting with MVRV (market value to realized value), which is a ratio that compares Bitcoin’s market cap to its realized cap and weights each coin by the price at which it last moved on-chain.

When MVRV pushes above 3.5, the market is historically in euphoria territory. When it falls below 1.0, the market is trading below its aggregate cost basis and is typically at a bear market bottom.

As of press time, MVRV sits around 1.8-2.0. That is well off euphoric highs but also well above the sub-1.0 levels that marked the bottoms in 2018, 2020, and 2022.

The bear cycle camp reads this as a market that has cooled but has not yet reached the deep value zone. If MVRV compresses toward 1.0, that would confirm a classic bear trajectory.

The SOPR (spent output profit ratio) tells a similar story. SOPR measures whether on-chain coins are being sold at a profit or a loss.

When SOPR is above 1.0, the average coin sold is profitable. When it drops below 1.0, the average coin is underwater.

November’s sell-off pushed SOPR below 1.0 for the first time since summer, signaling that short-term holders were realizing losses.

The depth and duration have some analysts comparing it to early 2022, when SOPR stayed suppressed for months.

The RHODL (realized cap HODL) waves break down Bitcoin’s realized cap by age cohorts. When long-term holders start spending at elevated rates, it typically signals a top.

Recent RHODL data show long-term holder supply has been declining since mid-year, a pattern consistent with distribution into strength.

The November correction accelerated that trend, with older cohorts moving coins on-chain at prices above $90,000.

Miner flows add another layer. Miners are structurally long Bitcoin and tend to hold during bull markets. When miner outflows spike, it signals stress.

CryptoQuant’s miner reserve data shows reserves have been declining since October, and miner wallet balances hit multi-year lows in late November.

Finally, stablecoin liquidity. The bear cycle camp points to declining stablecoin supply on exchanges as a sign that dry powder is leaving the system. The total stablecoin market cap has been flat to down since mid-November.

Without fresh fiat-backed liquidity ready to buy dips, Bitcoin lacks fuel for another leg up.

The middle ground: deep correction, not secular bear

Others see the same stress but stop short of calling a completed cycle top.

SOPR, realized-price bands, and MVRV are no longer in an euphoric zone. Yet, historically, classical bear market bottoms occur much closer to the aggregate realized price than today’s levels.

Additionally, ETF outflows and reduced stablecoin liquidity helped drive the worst two-month drawdown since mid-2022. Yet, Glassnode’s MVRV Z-Score is still not in oversold territory, and whale accumulation around $90,000 suggests the market is at an inflection point rather than clearly in a new secular downtrend.

This camp acknowledges the indicators have cooled but argues the market is still structurally different from prior bear cycles. Bitcoin has not broken its aggregate realized price, which sits around $50,000 to $55,000.

Derivatives open interest reset from $46 billion to $28 billion, flushing out overleveraged longs and setting the stage for a cleaner rally if liquidity improves.

The bull market reset thesis

A Glassnode-based roundup framed the late-November drop into the low-$80,000s as “2025’s strongest BTC buy zone,” noting dense realized-price clusters where long-term holders re-added exposure after forced liquidations and derivatives open interest washed out.

Trakx’s Nov. 28 monthly review says November’s slide “looks like a normal bull cycle pullback, not a new bear market,” arguing that as long as global liquidity continues to rise, the broader digital-asset bull trend should remain intact.

Additionally, open interest has reset, and ETF inflows resumed with a modest $50 million aggregated net inflow for December as of Dec. 3.

In this backdrop, a growing stablecoin supply could support a push back through the $93,000 to $96,000 resistance zone if the Fed delivers.

Global net liquidity: the missing variable

This is where Ki’s call hinges. He argues that “without macro liquidity, we enter a bear cycle,” explicitly tying on-chain stress to a deteriorating liquidity backdrop.

A Sahm Capital piece on Nov. 25 stressed that, unlike prior cycles, global net liquidity has been falling for years under the weight of inflation, rate hikes, and quantitative tightening, which has “suppressed money flow and upside potential throughout this cycle.”

I/O Fund’s Beth Kindig wrote this week that their model shows global liquidity stalling and “setting up for a reversal,” a pattern they say historically aligns with major Bitcoin tops and suggests we are in the final leg of the multi-year bull rather than the early innings.

On the other side, Bitwise’s early-December outlook argues that global liquidity growth “remains robust” and that valuations show “no evidence of a blow-off phase,” explicitly using that to reject a full bear-market transition.

Glassnode’s new institutional note for the fourth quarter with Fasanara adds a more neutral take: Bitcoin has retraced as global liquidity tightens, but the report focuses on shifting market structure rather than declaring a definitive macro top.

The verdict: conditional bear, not confirmed

The on-chain data shows stress. MVRV has cooled, SOPR has dipped below 1.0, long-term holders have distributed, miners have sold reserves, and stablecoin liquidity has stalled.

Those are all consistent with the opening phase of a bear market.

But they are also consistent with a deep correction within a bull market, especially one in which leverage was high and ETF flows were volatile.

The key difference is what happens next with liquidity.

If global net liquidity continues to contract and the Fed holds rates higher for longer, Ki’s bear cycle thesis gains weight. If liquidity stabilizes or rebounds and ETF inflows resume, the bull reset camp wins.

Right now, the data suggests Bitcoin is at an inflection point, not a confirmed top. The on-chain indicators are flashing yellow, not red. And the liquidity backdrop is contested, with credible voices on both sides.

The post Bitcoin on-chain data just flashed critical bearish signal that CryptoQuant warns marks a verified cycle top appeared first on CryptoSlate.

The year is 2075. The judge does not ask for a deed. She asks for a transaction ID.

The landlord’s lawyer queues up a Bitcoin transaction from fifteen years earlier that moved a token representing the property.

The tenant’s lawyer concedes the transaction exists, yet claims the signature was obtained under duress.

Everyone in the courtroom accepts what the chain records, but no one agrees on what the record means.

That scene captures a question that is moving from thought experiment to institutional design problem: at what point does a monetary network stop being treated mainly as money and start functioning as a default record of who owned what, and when?

For now, courts still lean on familiar tools.

Chain of title for land runs through registries, index books, PDF databases, and sworn testimonies. Corporate ownership flows through transfer agents, company ledgers, and filings with agencies. Contracts live in filing cabinets, cloud folders, and email threads.

These systems rest on people and offices, not consensus algorithms, and they work until they do not.

Fire, war, regime change, data loss, and quiet fraud all create gaps. According to the World Bank, billions of people lack formal proof of land rights, which leaves them exposed when authorities or rivals dispute an unwritten history.

According to Transparency International, corruption involving public records remains common in many states, including basic acts such as inserting or deleting entries in registries.

Legal systems are built to cope with such fragility, through doctrines on evidence, presumptions, and appeals, yet every workaround carries cost and delay.

Bitcoin’s pitch: an evidence trail that doesn’t depend on institutions staying honest

Bitcoin introduced an alternative way to preserve a history of events, one that does not assume a single office or country will remain honest or functional.

Every roughly ten minutes, miners assemble a block of transactions, compete to prove work on a hash puzzle, and broadcast the winning block to a network of nodes.

Each block commits to the previous one through a hash link, so the longest chain of valid work becomes an ordered list of events that is very hard to rewrite without repeating that work.

The result is a timechain: a public, replicated log where each entry has a position, a timestamp window, and an economic cost to alter. Per the original Bitcoin white paper, proof-of-work turns the chain into a record of “what happened when” that any node can verify. Even if some nodes shut down or some jurisdictions ban miners, other nodes can preserve the ledger and its ordering.

Inside that ledger, Bitcoin’s unspent transaction output model, or UTXO set, defines who can move which coins. Every transaction consumes old outputs and creates new ones. Ownership of a coin, in protocol terms, means the ability to produce a valid signature that spends a given output under its locking script. That graph of spending forms a perfect chain of title for satoshis, from coinbase transactions to the present.

That same structure can be used to mark other claims. Colored coins, inscriptions, and various token layers embed references to external rights inside Bitcoin transactions.

A satoshi can come to stand for a share in a company, a document hash, or a pointer to a land parcel held in a separate database. The timechain then becomes a permanent index of when those markers moved between keys, whether or not any court noticed at the time.

Bitcoin, however, only guarantees certain things. It shows that, at a particular block height, a set of digital signatures passed verification under known rules. It shows that the network accepted it as valid and that later blocks were built on that acceptance.

It does not know who held the hardware wallet. It does not know whether a person signed freely, signed under duress, lost a key, or used malware.

Courts care about that gap. Legal ownership rests on identity, capacity, intent, and consent. When judges admit a PDF contract or a bank ledger, they do not treat those records as automatic proof of rightful ownership. They treat them as evidence that can be challenged with testimony, other records, and context. A Bitcoin entry fits that pattern. It is part of the story, not the whole story.

Even so, Bitcoin is already being used in formal disputes.

United States cases involving Silk Road, ransomware, theft, and exchange failures have relied on blockchain analysis to trace funds and to prove that certain payments occurred, with judges accepting block explorers and expert testimony as a way to ground facts about transfers — see Silk Road seizure, Colonial Pipeline ransom recovery, and Bitfinex arrests & recovery.

According to the Law Library of Congress, courts and lawmakers in several jurisdictions, including Vermont and Arizona, have granted blockchain records (not only Bitcoin) a presumption of authenticity or legal recognition for some purposes.

Further, the Supreme People’s Court of China has authorized internet courts to accept blockchain entries as evidence when parties can show how the data was stored and verified.

A short timeline of turning a blockchain entry from curiosity into courtroom material already exists.

Each entry, on its own, is modest.

Together, they show a pattern in which courts treat blockchains as a trustworthy factual substrate for digital events, then embed that substrate within older doctrines.

Bitcoin was built as a way to move value without trust in a bank, yet in practice, it also operates as a way to anchor facts without trust in a clerk.

From timestamped proof to default registry

The question is when that anchoring crosses a threshold from a rare exhibit to a default record. The shift is less about ideology and more about convenience and cost.

A judge reaches for a standard source when it is easier to access and harder to argue with than the alternative.

For locally recorded assets inside a stable jurisdiction, that will remain the land office or corporate registry for a long time. For cross-border claims, long time horizons and fragile states, the calculus looks different.

Imagine a real estate portfolio spanning five countries, where registries vary in quality and political risk.

A fund can maintain its own internal ledger and sign periodic snapshots, yet it still faces disputes over which version of that ledger should prevail in court.

If, instead, it embeds hashes of its ownership tree into Bitcoin every quarter, any shareholder, regulator, or counterparty can verify that a particular position existed at a specific block height. A future litigant might argue about how to interpret that snapshot, yet they cannot say that it never existed.

Something similar already happens for documents. According to public documentation from OpenTimestamps and related projects, users can include file hashes in a Bitcoin transaction and later prove that the files were created before a given block.

Human rights groups and journalists have used related methods, such as the Starling Lab framework, to timestamp photos and reports, thereby creating a resilient trail when traditional archives are censored or confiscated.

In those cases, Bitcoin acts as a neutral notary that no single regime can silence.

Moving from timestamp to title is a larger leap.

Property law involves competing claims, public notice, and state-backed enforcement. Even if every deed in a country were mirrored on Bitcoin, courts would still need a rule for conflicts between the chain and the paper registry.

A legislature could state that the on-chain token is legally controlling, that it is only evidence alongside the official roll, or that it has no effect at all. Until a jurisdiction writes these rules in detail, Bitcoin-based titles will remain in a gray zone.

There are, however, environments where that gray zone becomes an advantage.

In a failed state where the land office burned or where officials routinely overwrite past records, parties may prefer any external anchor that a foreign court will take seriously.

If a regional arbitration panel or an international tribunal begins to treat old Bitcoin entries as the cleanest account of who controlled which claims at which dates, that practice could pull local courts along over time.

The ledger becomes the default not because someone declared it so, but because nothing else is more durable or more widely checkable.

That is also true inside corporations. Many firms already push internal logs to append-only storage so that auditors can see when orders changed, who approved transfers, and how inventory moved.

Anchoring periodic Merkle roots of those logs to Bitcoin raises the bar: it forces any would-be fraudster to fight the entire history of the chain if they want to hide edits after the fact.

Regulators who grow comfortable reading those anchors will face pressure to treat them as baseline evidence in enforcement actions.

A global evidence ledger would not serve everyone equally.

Long-term savers, whistleblowers, and dissidents gain from a record that survives regime changes and server failures. Tax authorities gain from the ability to reconstruct years of transactions from a shared public database. Authoritarian governments gain from new tools to monitor flows and identify networks that treat pseudonymous records as a thin cover. Privacy advocates, defense lawyers, and citizens who want the option to move on from past mistakes face a ledger that never forgets.

Legal systems will have to confront a deeper challenge as they lean on infrastructure they do not control.

A judge can order a registrar to correct a wrongful entry or expunge a file. No court can order miners and nodes worldwide to delete a block.

Remedies will need to act at the edges: ordering a bank to treat a specific output as tainted, ordering a company to reverse a token transfer on a side ledger, granting damages rather than rewriting the past.

Jurisdictions will diverge in how much weight they give the same transaction ID. One court may treat it as conclusive proof of ownership at a date. Another may treat it as a single data point that can be overcome by testimony of theft or coercion.

Forks and bugs expose another layer of fragility.

Bitcoin’s history already includes rare moments when the community stepped in to change what the chain “really” was.

In 2010, an integer overflow bug created an invalid amount of new coins, and developers released a patch that led nodes to reorganize the chain and forget those outputs.

In 2013, a database glitch caused a temporary split that nodes later healed by agreeing on which side to follow (see BIP-50 post-mortem).

According to developer mailing list archives, these events were treated as emergency responses, not routine governance, yet they show that immutability is both code and social coordination.

Future forks could be more contentious. The 2017 split that created Bitcoin Cash showed how communities can diverge over block size and treat different chains as the real continuation of a project.

For most users, market prices and protocol support settled the matter.

For courts, the question is more subtle: which chain holds the authoritative record for a tokenized share or deed that was originally anchored before the split.

Legislatures may need to define how to pick an authoritative chain for evidence purposes, possibly by reference to hash rate, node count, or named software clients.

Lawyers will adapt by hedging.

Parties who treat Bitcoin as an evidence anchor can mirror the identical hashes onto other public chains or trusted timestamping services, keep notarized paper copies, and write contracts that specify which chain controls in case of a split.

Judges can accept blockchain entries while still requiring corroboration. Nothing requires a binary choice between on-chain and off-chain records.

The turning point, when Bitcoin functions less as a curiosity and more as infrastructure that courts quietly rely on, will not arrive with a single statute or landmark case.

It will arrive when line judges, registrars, and in-house counsel find that checking the timechain for a transaction or a document hash has become routine, that overturning that record is more complex than living with it, and that litigants expect those checks as part of due diligence.

Back in the courtroom, the eviction case ends with a written opinion that cites the transaction ID as proof that a digital claim moved at a particular block height, then spends far more pages working through whether that move reflected valid consent under local law.

The judge does not need to declare Bitcoin the world’s archive. By citing it without ceremony, the court treats the chain as one more institutional record in a world where many records have drifted out of human hands, into a ledger that keeps track of who claimed what and when.

The post Bitcoin is quietly becoming the ultimate expert witness, forcing judges to accept a new standard of truth appeared first on CryptoSlate.

Grayscale’s conversion of its legacy Chainlink trust into the GLNK exchange-traded product on Dec. 2 did more than simply add another ticker to the NYSE Arca board.

With roughly $13 million in day-one trading volume, $41 million in immediate inflows, and assets climbing to approximately $64 million within the first 48 hours, GLNK entered the market distinct from the speculative alt-coin listings that characterized much of the previous cycle.

Instead, it arrived as the first US financial product offering direct exposure to the Oracle infrastructure layer. This layer functions as the digital plumbing required to make blockchain networks usable for real-world finance.

However, beneath the strong headline flows a complex wager. By packaging a utility token into a regulated equity wrapper, Grayscale has forced institutional investors to confront a difficult question: Does the inevitable growth of tokenized finance actually necessitate an increase in the price of the LINK token?

GLNK is structured under NYSE Arca Rule 8.201-E as a physically backed commodity product, holding LINK as its sole asset. It debuted with a temporary 0% fee, which is a standard seeding mechanism for this year’s ETF launches, before a scheduled shift to 0.35% once the vehicle reaches early March or $1 billion in assets.

This aggressive pricing strategy, undercutting legacy trusts that often charged upward of 2 percent, positions the product to attract allocators who view blockchain not as a casino, but as a software upgrade for global markets.

The tokenization thesis

GLNK’s launch came at a time when tokenization had transitioned from a back-end experiment to a boardroom priority.

A recent op-ed by BlackRock’s Larry Fink and Rob Goldstein in The Economist framed tokenized settlement as the inevitable next evolution in market infrastructure.

This aligns with forecasts from BCG and ADDX, which place the total value of tokenized private assets at nearly $16 trillion by 2030, and Citi’s revised base case, which projects up to $1.9 trillion in stablecoin circulation by the end of the decade.

In this macroeconomic backdrop, GLNK pitches itself less as a bet on a cryptocurrency and more as a picks-and-shovels play on the migration of financial data onto public networks.

Zach Pandl, Grayscale’s head of research, said:

“I believe Chainlink will make the tokenization vision a reality.”

Chainlink’s network, which reports securing over $100 billion in total value and maintains a dominant 70% market share in decentralized finance (DeFi), is the theoretical beneficiary of this migration.

Major financial institutions are currently using Oracle blockchain’s Cross-Chain Interoperability Protocol (CCIP) to transfer value between private bank ledgers and public blockchains.

Yet a critical disconnect persists between the technology’s adoption and the token’s economics, as sophisticated allocators are wary of the “velocity problem.”

While banks may use Chainlink’s infrastructure for data attestation or proof-of-reserves, it is not guaranteed that these institutions will hold LINK on their balance sheets. If transaction fees are paid in fiat or if the token is acquired and immediately burned for service, the velocity of money could suppress price appreciation even as usage explodes.

Furthermore, the threat of private innovation looms. For context, JPMorgan’s Onyx and other proprietary bank chains may develop internal Oracle solutions that bypass public middleware entirely.

GLNK’s flows, therefore, are not just a measure of enthusiasm for crypto; they are a market-readable gauge of investor confidence that public, decentralized middleware will become the standard over private, walled gardens.

The mechanics of access

For Registered Investment Advisors (RIAs) and multi-asset managers, participating in this infrastructure thesis has historically been operationally impossible.

Historically, these firms have stayed away from on-chain crypto interactions and private key management due to the complexities of the emerging industry.

GLNK effectively solves the access problem. With Coinbase Custody providing segregated, auditable cold storage and NYSE Arca providing daily liquidity, the product transforms an on-chain thesis into a broker-dealer compatible line item.

However, this convenience introduces a significant “cost of carry” that defines the product’s risk profile.

Unlike Ethereum or Solana, where the native asset generates yield through staking-based consensus, GLNK does not currently pass staking rewards through to investors.

In the native crypto market, LINK holders can stake their tokens to secure the network and earn a return, currently acting as a hedge against inflation. Inside the ETF wrapper, that yield is stripped away.

In a macroeconomic environment where the risk-free rate remains material, holding a non-yielding asset that charges a management fee (eventually 0.35%) creates a distinct drag on performance.

Investors are essentially paying a premium for regulatory safety. This dynamic mirrors the early days of gold ETFs, where investors accepted storage costs for the ease of access.

Still, it places a heavier burden on the underlying asset’s capital appreciation.

For GLNK to be a viable portfolio component, the appreciation of the LINK token must outpace not only the management fee but also the opportunity cost of holding yielding treasuries or staking-enabled crypto assets.

Moreover, the regulatory architecture underpinning GLNK may prove to be its most durable feature.

The use of NYSE Arca Rule 8.201-E, typically reserved for physically backed commodity ETPs, provides a level of consistency that market makers favor. It simplifies the creation and redemption process, allowing authorized participants to hedge their books efficiently and keep spreads tight.

This structure also clarifies the competitive landscape.

While other oracle networks like the Solana-based Pyth offer similar technological utility, they lack the regulated bridge that Chainlink has now established.

By clearing the regulatory hurdles first, Grayscale has created a moat. For an institutional allocator, the difference between “technologically superior” and “regulatorily accessible” is often the difference between passing and investing.

What does the future hold for GLNK

Despite these structural headwinds, the early market response suggests a hunger for thematic diversification.

Industry stakeholders have described the initial trading volume as robust for a single-asset debut, specifically noting that on a market-cap-adjusted basis, GLNK outperformed several other 2025 alt-coin listings.

This contrasts with the subdued launch of the Dogecoin ETP, highlighting an emerging institutional preference: capital is flowing toward infrastructure linked to real economic integrations, rather than tokens driven primarily by retail sentiment or meme mechanics.

Considering this, CryptoSlate’s analysis, based on comparable thematic ETF launches, suggests a base-case scenario in which GLNK accumulates between $150 million and $300 million in assets under management (AUM) by mid-2026.

This projection assumes a “spillover rate” where a small fraction of capital allocated to Bitcoin and Ethereum products rotates into high-conviction infrastructure plays during quarterly rebalancing cycles.

A bull case, potentially reaching $400 million to $600 million, relies on a successful narrative conversion. However, this would require tangible announcements from major financial institutions that move from CCIP pilots to full commercial production using the LINK token.

Conversely, a bear scenario of $75 million to $125 million remains plausible if the “private chain” thesis gains traction, or if diversified multi-asset crypto indices begin to absorb the demand for oracle exposure, rendering single-asset products less attractive.

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Ethereum completed its Fusaka upgrade on Dec. 3, marking one of the network’s most essential steps toward long-term scalability.

The upgrade builds on a series of changes since the 2022 Merge and follows the earlier Dencun and Pectra releases, which lowered Layer 2 fees and increased blob capacity.

Fusaka goes further by restructuring how Ethereum confirms that data is available, widening the channel through which Layer 2 networks like Arbitrum, Optimism, and Base post their compressed transaction batches.

It does this through a new system called PeerDAS, which allows Ethereum to verify large volumes of transaction data without requiring every node to download it.

Buterin says Fusaka is ‘incomplete’

However, Ethereum co-founder Vitalik Buterin cautioned that Fusaka should not be viewed as a completed version of sharding, the network’s long-term scaling plan.

Buterin noted that PeerDAS represents the first working implementation of data sharding. However, he noted that several critical components remain unfinished.

According to him, Ethereum can now make more data available, and at lower cost, but the full system envisioned over the past decade still requires work across multiple layers of the protocol.

Considering this, Buterin highlighted three gaps in Fusaka’s sharding.

First, Ethereum’s base layer still processes transactions sequentially, meaning execution throughput has not increased alongside the new data capacity.

Secondly, block builders, specialized actors who assemble transactions into blocks, continue to download full data payloads even though validators no longer need to, which creates a centralization risk as data volumes grow.

Lastly, Ethereum still uses a single global mempool, forcing every node to process the same pending transactions and limiting the network’s scalability.

His message essentially frames Fusaka as the foundation for the next development cycle. He stated:

“The next two years will give us time to refine the PeerDAS mechanism, carefully increase its scale while we continue to ensure its stability, use it to scale L2s, and then when ZK-EVMs are mature, turn it inwards to scale ethereum L1 gas as well.”

Glamsterdam becomes the next focal point

The most immediate successor to Fusaka is the Glamsterdam upgrade, targeted for 2026.

If Fusaka expands Ethereum’s data bandwidth, Glamsterdam seeks to ensure that the network can handle the operational load that comes with it.

The headline feature is enshrined proposer-builder separation, known as ePBS. This change shifts block construction into the protocol itself, reducing Ethereum’s dependence on a handful of external block builders who currently dominate the market.

As data volumes rise under Fusaka, those builders would gain even more influence. ePBS is meant to prevent that outcome by formalizing how builders bid for blocks and how validators participate in the process.

Running alongside ePBS is a complementary feature called block-level access lists. These lists require builders to specify which parts of Ethereum’s state a block will touch before execution begins.

Client teams say this allows software to schedule tasks more efficiently and lays the groundwork for future parallelization. This would be an essential step as the network prepares for heavier computational loads.

Together, ePBS and access lists form the core of Glamsterdam’s market and performance reforms. They are viewed as structural prerequisites for operating a high-capacity data system without sacrificing decentralization.

Other planned Ethereum upgrades

Beyond Glamsterdam lies another roadmap milestone, the Verge, centered on Verkle trees.

This system restructures how Ethereum stores and verifies the network’s state.

Instead of requiring full nodes to store the entire state locally, Verkle trees enable them to verify blocks with compact proofs, significantly reducing storage requirements. Notably, this was partially addressed in Fusaka.

For node operators and validators, this aligns with one of Ethereum’s core priorities: ensuring that running a node remains accessible without enterprise-grade hardware.

This work matters because Fusaka’s success increases the amount of data Ethereum can ingest. Still, without changes to state management, the cost of keeping up with the chain could eventually climb.

The Verge aims to ensure the opposite, and that Ethereum becomes easier to run even as it processes more data.

From thereon, Ethereum would focus on updates to the Purge, a long-term effort to remove accumulated historical data and retire technical debt, making the protocol lighter and easier to operate.

Beyond those changes is the Splurge, a collection of upgrades designed to refine the user and developer experience.

This would be achieved through improvements to account abstraction, new approaches to MEV mitigation, and ongoing cryptographic enhancements

A global settlement layer

Taken together, these updates form successive stages of the same ambition:

“Ethereum is positioning itself as a global settlement layer capable of supporting millions of transactions per second through its Layer 2 ecosystem while maintaining the security guarantees of its base chain.”

Long-time ecosystem figures increasingly echo that framing. Joseph Lubin, an Ethereum co-founder, noted:

“The world economy will be built on Ethereum.”

Lubin pointed to the network’s nearly decade-long uninterrupted operation and its role in settling more than $25 trillion in value last year.

He also noted that Ethereum currently hosts the largest share of stablecoins, tokenized assets, and real-world asset issuances, and that ETH itself has become a productive asset through staking, restaking, and DeFi infrastructure.

His remarks capture the broader thesis behind the current roadmap: a settlement platform that can run continuously, absorb global financial activity, and remain open to any participant who wants to validate or transact.

That future depends on three outcomes, according to CoinGecko. The network must remain scalable, enabling rollups to process large volumes of activity at predictable costs. It must remain secure, relying on thousands of independent validators whose ability to participate is not restricted by hardware demands.  And it must remain decentralized, ensuring that anyone can run a node or validator without specialized equipment.

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Vanguard’s reversal this week closed the last major holdout. The firm opened its brokerage to third-party crypto ETFs and mutual funds tied to BTC, ETH, XRP, and SOL, while still refusing to launch its own crypto funds or touch memecoin products.

That shift matters because Vanguard was the last major, brand-name US asset manager with a blanket ban on Bitcoin exposure through listed products.

Fidelity has its own spot BTC ETF and in-app retail crypto trading. Schwab offers spot Bitcoin funds and options on spot BTC ETFs and is preparing for full spot crypto trading by 2026.

Bank of America, Morgan Stanley, Wells Fargo, and UBS now all offer spot Bitcoin ETFs in their wealth channels, with BofA even telling advisers to consider a 1% to 4% crypto allocation.

Among the national, mass-market platforms you’d name in the same breath as Vanguard, the debate has moved from “allow it or not?” to “how much, to which clients and in what wrapper?”

There are no Vanguard-style outright bans left at the big names. What remains are soft speed bumps, structural barriers embedded in how products are packaged, who’s allowed to use them, and which defaults get applied when advisers or algorithms make allocation decisions.

These soft bans don’t appear as policy statements, but they keep trillions in US retirement and insurance funds at arm’s length from Bitcoin.

The 401(k) menu problem: policy shifted, platforms didn’t

One barrier lives in workplace retirement plans. The Department of Labor rescinded its 2022 “extreme care” warning and returned to a neutral stance on crypto in 401(k)s, but that didn’t flip the menus to pro-Bitcoin.

Most plan sponsors still don’t offer spot BTC ETFs as a standard option. Barron’s notes that even after the policy shift, Bitcoin ETFs remain “rarely available in standard 401(k) plans.” Fidelity’s Digital Assets Account lets employers add bitcoin to a 401(k), but only if the employer opts in, and allocations are capped.

For most salaried workers, retirement savings are still walled off from direct Bitcoin exposure unless there’s a brokerage window and a willing sponsor.

The mechanics work like this: a benefits consultant proposes a menu of 15 to 25 funds covering large-cap, small-cap, international equity, bonds, and target-date strategies.

Spot BTC ETFs are technically eligible, but including one means the plan fiduciary must affirmatively determine that bitcoin serves participants’ interests and document that decision in writing.

Legal counsel and consultants are still telling fiduciaries that crypto in 401(k)s is high-risk and should be approached cautiously, even though the DOL no longer singles it out.

The result is a status quo bias: unless someone at the sponsor company actively pushes for a bitcoin option, the menu defaults to the same equity and fixed-income lineup that’s been in place for years.

That creates a structural mismatch. Retail investors who use Robinhood or Coinbase can buy Bitcoin freely in taxable accounts. The same people, when they contribute to a 401(k), are typically locked into a menu that maxes out at a “growth” target-date fund with zero crypto exposure.

The policy environment has shifted to neutral, but the infrastructure consisting of plan menus, record-keeper integrations, and fiduciary appetite hasn’t caught up.

Risk-tier gates and wealth minimums: who gets access

Another soft barrier is risk-tier gatekeeping at big wealth platforms. Morgan Stanley only recently dropped its requirement that clients be “aggressive” investors with at least $1.5 million before they could access crypto funds. As of October, it’s opening crypto funds and ETFs to all its wealth clients, including retirement accounts.

Merrill Lynch still restricts spot Bitcoin ETFs to “eligible” ultra-high-net-worth clients, defined as roughly $10 million in assets. UBS offers spot BTC ETFs only to “eligible” wealth clients rather than every retail account.

Bank of America has gone the furthest in normalizing crypto allocations, telling advisers to add 1% to 4% to their crypto allocations across Merrill and the private bank. However, that guidance is still framed for wealth clients who already have advisers and sizable portfolios.

In practice, that means the self-directed Robinhood-style crowd can buy Bitcoin ETFs freely, while many “mass affluent” households in legacy advice channels only get crypto if their adviser is comfortable and their risk score is high enough.

The distinction isn’t just about net worth, but it’s about which distribution channel investors are in.
If users self-custody or trade through a discount brokerage, Bitcoin is one click away. If investors are in a managed account at a wirehouse, they need an adviser override and a risk tolerance that clears internal compliance hurdles.

The tiers also create bifurcation within the same firm. At Morgan Stanley, a self-directed E*TRADE client can buy BlackRock’s IBIT without restriction. In contrast, a wealth-management client at the same firm needed an aggressive risk rating and $1.5 million by October.

At Merrill, retail clients in the self-directed CMA can access spot bitcoin ETFs. Still, Edge clients with smaller balances are steered toward thematic equity funds or Bitcoin-proxy stocks like Coinbase and Strategy.

Product design and default allocations: the robo nudge

Robo-advisors act as a quiet filter. Betterment and Wealthfront both now support Bitcoin and Ethereum ETFs, but they’re typically offered as a small satellite sleeve rather than a core holding.

Betterment’s “Crypto ETF portfolio” is explicitly pitched as offering “limited exposure” via BTC and ETH ETFs, typically accounting for a low single-digit percentage of the overall portfolio.

Wealthfront treats Bitcoin and Ethereum ETFs as optional holdings and only recently shifted new flows toward mainstream tickers like IBIT and ETHA. The default portfolios are still stock-and-bond heavy.

The upshot is that a typical hands-off robo client ends up with little or no bitcoin unless they actively override the default allocation.

This matters because robo-advisors are built around defaults. Most clients accept the recommended portfolio without customization.

If the algorithm allocates 2% to a crypto sleeve and 98% to equities and bonds, that’s what the client gets. If the default is zero crypto unless the client affirmatively opts in, most clients will have zero crypto.

Product type is another partial barrier. At firms like Charles Schwab, customers can research and buy crypto ETPs and thematic equity ETFs, but direct spot trading of Bitcoin is still “not currently available.”

Schwab says it plans to add spot crypto trading once the regulatory environment settles, with management guiding to a launch sometime around 2026. That’s fine if investors are happy with IBIT or other ETFs, but it’s still a structural nudge away from self-custody and toward wrapped exposure.

Insurance and annuity channels: the slowest lane

Insurance and annuity channels are another slow lane. SECURE 2.0 and related tax guidance are nudging insurers to use ETFs in variable annuity separate accounts. However, industry and law-firm commentary still frames this mostly in terms of traditional stock and bond ETFs, not Bitcoin.

Major variable annuity platforms aren’t advertising spot Bitcoin ETFs as standard subaccounts. Menus are still dominated by equity, fixed-income, and target-date strategies.

That effectively keeps trillions in insurance-wrapped retirement money out of BTC for now, even though nothing technically stops insurers from adding a Bitcoin ETF sleeve.

Variable annuities pool client premiums and allocate them across subaccounts that track mutual funds or ETFs. The insurer chooses which funds to make available, and the client picks from that menu.

Adding a Bitcoin ETF subaccount requires the insurance company to negotiate fees with the ETF issuer, clear internal compliance, and decide that offering crypto exposure serves policyholders’ interests and won’t trigger regulatory blowback.

Most insurers haven’t made that call yet, so the menu defaults to the same equity and bond subaccounts that have been available for decades.

The cultural and compliance layer

Finally, there’s the cultural and compliance layer. Even with the DOL’s reversal, benefits lawyers and consultants are still telling plan fiduciaries that crypto in 401(k)s is legally high-risk and should be approached with extreme caution.

Barron’s and MarketWatch both note that many advisors still view Bitcoin as speculative and suggest allocations of only 1% to 3%, even where ETFs are available, which effectively serves as a de facto soft cap.

Some platforms remain structurally biased toward indirect exposure: Schwab’s crypto education emphasizes ETPs and thematic stocks, not direct coins, steering conservative clients toward “picks and shovels” or diversified funds rather than owning BTC itself.

This is the layer that doesn’t show up in product availability grids but determines what actually happens in practice.

A fiduciary can add a Bitcoin ETF to a 401(k) menu, but if the benefits consultant tells the board that doing so will invite scrutiny and increase litigation risk, the board will choose not to.

An adviser can recommend a 5% Bitcoin allocation, but if the compliance desk flags it as outside the client’s risk tolerance band, the allocation is trimmed to 1% or removed entirely.

The end state is a market where Bitcoin is technically available everywhere but practically available only to clients who know to ask for it, have the risk tolerance to clear compliance gates, and are using platforms that treat crypto as a core asset class rather than a speculative add-on.

The big outright bans are gone. What’s left is a soft infrastructure of defaults, gates, and nudges that keeps most US retirement money in the same equity-and-bond allocations it’s always had.

The post Every major firm now finally allows Bitcoin, yet an “invisible” compliance layer is quietly blocking your access appeared first on CryptoSlate.

When you see nearly two hundred million dollars walk out of spot bitcoin ETFs in a single day, it tells you sentiment isn’t falling apart but shifting gears. Flows like these often show up when traders are repositioning ahead of a macro trigger rather than abandoning the asset. Let’s break it down in a clean, reader-friendly way.

What Triggered the Largest Outflow in Two Weeks?

U.S. spot bitcoin ETFs reported $194.6 million in net outflows on Thursday, a sharp jump from the modest $14.9 million seen the day before. This was the biggest single-day exit since Nov 20, and it landed in the middle of a volatile trading week. The pressure came mainly from the big players. BlackRock’s IBIT bled $112.9 million, while Fidelity’s FBTC saw $54.2 million head out the door. VanEck’s HODL, Grayscale’s GBTC, and Bitwise’s BITB also logged steady redemptions.

This wasn’t just about flows. Trading volume across the ETF ecosystem slipped to 3.1 billion dollars, down from 4.2 billion on Wednesday and more than 5 billion on Tuesday. Lower volume during large outflows usually points to a rotation rather than panic selling.

How Market Structure Played Into It

Nick Ruck of LVRG Research explained that this wave was tied to basis trading unwinds. When the spread between futures and spot prices shrinks below breakeven, arbitrage traders have no incentive to hold their positions. They exit, and those exits ripple through ETF balances. The spread compression this week, paired with sharp intraday swings, forced major unwind activity.

At the same time, traders are holding their breath ahead of the next inflation print and the Federal Reserve’s December 10 rate decision. A 25-basis-point cut is the baseline expectation. If the Fed signals more easing ahead, sentiment could stabilize quickly.

What’s Happening on the Bitcoin Price Side?

Bitcoin slipped about 1.4 percent in the past 24 hours, trading near 91,989 dollars early Friday. It briefly dipped toward the 84,000 zone earlier in the week but clawed its way back. This price action reflects a market feeling out its floor while ETF outflows temporarily weigh on momentum.

Despite the noise, on-chain signals remain interesting. Timothy Misir from BRN pointed out that exchange balances have fallen to 1.8 million BTC, the lowest level since 2017. When supply thins on exchanges, it usually means more long-term holders are tucking coins away. He added that accumulation is steady and the price is holding above the True Market Mean. The missing piece is a decisive jump into the 96,000 to 106,000 trading band, which would confirm a new leg up.

Ethereum ETFs Didn’t Escape the Pressure Either

It wasn’t just bitcoin products facing withdrawals. Spot Ethereum ETFs saw 41.6 million dollars in net outflows on Thursday after enjoying 140.2 million in inflows the previous day. Grayscale’s ETHE led the retreat with 30.9 million in redemptions.

The contrast in back-to-back flows suggests traders are still calibrating how much exposure they want heading into December’s macro catalysts.

The Bottom Line

These Spot Bitcoin ETFs outflows aren’t a sign of structural weakness. They’re a snapshot of a market adjusting positions ahead of bigger economic signals. Bitcoin’s supply continues tightening, the floor is holding, and traders are still looking for that clean breakout into higher ranges. If the Fed confirms a softer stance next week, the narrative can flip fast.

Bitcoin ($BTC) is showing strong signs of recovery after a sharp pullback to the mid-$80,000 region. The attached chart clearly shows a clean bounce around $85K, followed by a strong V-shaped reversal back toward the $92–93K area. Momentum has stabilized, and buyers stepped in precisely where the market expected a reaction, confirming that dip-buyers remain in control.

BTC/USD 1-hour chart - TradingView

But beyond the technicals, three massive macro catalysts flashed bullish signals across the market. From political demand to historic liquidity injections, everything points toward higher BTC prices in the coming days and weeks.

Here are the Top 3 Reasons Why Bitcoin Should Go Up Next.

1. Bitcoin Rebounded Strongly From Key Support

The chart shows Bitcoin dipping toward the critical $85K support zone, touching the lower boundary before buyers aggressively absorbed the move. The green arrow marks a strong accumulation candle, followed by consistent upward momentum.

Key technical observations:

• Stoch RSI hit oversold, confirming a textbook bounce.
• Price formed a V-reversal, one of BTC’s signature bottoming patterns.
• The $92K–93K range is stabilizing as a new short-term support.

As long as BTC holds above this zone, upside continuation toward $95K–98K remains likely, with a potential retest of the all-time high shortly after.

2. Major Buyers: Trump-Backed America Bitcoin & Global Sentiment Shift

One of the most viral catalysts this week:
The Trump-family-backed America Bitcoin initiative reportedly bought $34 million worth of BTC.

Whether symbolic or strategic, this type of political-tier purchase:

• Signals confidence in BTC as a long-term reserve asset
• Boosts public and market trust
• Fuels the narrative of Bitcoin becoming an American strategic asset

And it doesn’t end there.

A widely shared post highlighted that the “world’s highest IQ holder” publicly said Bitcoin will hit a new all-time high this month.
While sentiment-based catalysts alone don’t move markets, they amplify optimism, and in crypto, optimism often accelerates liquidity inflows.

Together, these two narratives create a macro-scale demand boost at the perfect moment when BTC is rebounding.

3. Massive Liquidity Injection: U.S. Treasury’s $12.5B Buyback + Global Stimulus

This is the most important reason of all.

The U.S. Treasury just conducted the largest debt buyback in U.S. history — $12.5 billion.
This is direct liquidity injected into the financial system, and historically:

• Liquidity ↑
• Risk assets ↑
• Bitcoin ↑↑↑

It gets even more bullish:

✔ FED rate cut expected next week: A lower interest rate = cheaper money = more risk-on exposure.
✔ New “bullish” FED Chair announcement: Markets love predictable, pro-liquidity leadership.
✔ U.S. & Japan have confirmed new stimulus checks: Stimulus money → risk assets → crypto flows.

In other words:

Liquidity support = Bitcoin rocket fuel

BTC thrives in environments where governments inject money, buy debt, and cut rates.
This is exactly the type of macro backdrop that previously sent Bitcoin into explosive rallies.

Fusaka isn’t just another routine Ethereum upgrade. It marks a shift in tempo, attitude, and ambition. For years, Ethereum moved at a slow but steady pace, delivering one major network upgrade annually. Now the chain is shifting gears. With Fusaka’s rollout, Ethereum is formally stepping into a twice-a-year hard-fork rhythm, and the impact of that change goes far beyond technical housekeeping. It signals a maturing ecosystem that wants to scale faster, offer better UX, and meet the increasing demands of a global onchain economy.

Why Fusaka Matters Right Now

Fusaka went live on mainnet at epoch 411392, around 21:50 UTC on Wednesday, becoming Ethereum’s seventeenth major upgrade. That alone is noteworthy given that Pectra shipped only seven months ago. More importantly, this upgrade proves the Ethereum Foundation, despite its leadership transitions this year, can actually deliver on a faster cadence.

Until now, Ethereum stuck to a near-annual schedule following the Merge in 2022. Shapella hit in April 2023. Dencun followed in March 2024. Pectra arrived in May 2025. Fusaka breaks that pattern. And according to Consensys, this twice-a-year schedule is the new normal.

Fusaka also stands out because of its sheer size. The release includes nine core EIPs plus four supporting proposals, making it one of the most comprehensive upgrades ever pushed to mainnet.

What PeerDAS Changes About Ethereum

The biggest headline here is PeerDAS, short for Peer Data Availability Sampling. This is the most significant shift to Ethereum’s data model since blobs were introduced in Dencun back in 2024.

PeerDAS lets validators sample sections of blob data instead of downloading entire blobs. That sounds subtle, but it rewires how data availability works.

What this really means is simpler: Layer 2 rollups get a massive efficiency boost. More blob throughput becomes possible without overloading individual nodes. As storage requirements scale, L2 fees can fall. Ethereum stays secure at L1, and rollups get room to breathe.

Fusaka pairs PeerDAS with the new Blob Parameter Only mechanism, which will steadily increase blob throughput over the coming weeks. Targets will rise to 14 blobs per block, with a maximum of 21 by early January. Engineers expect this to expand capacity by as much as eight-times.

Fusaka also introduces a blob base fee minimum to counter problems seen after Dencun, where fees collapsed to near zero in quiet periods. When L2 activity rises, a proportional fee system kicks in, helping stabilize the economics of rollups and creating more predictable fee burns for ETH.

The Quiet but Important Backend Improvements

Not every upgrade needs flashy user-facing features. Fusaka leans heavily into cleaning up under-the-hood mechanics that keep the chain resilient and usable at scale.

One change raises Ethereum’s gas limit cap rules to prevent a single transaction from hogging excessive block space. This helps mitigate denial-of-service risks and keeps block production stable.

Another major step is native support for the secp256r1 elliptic curve. This paves the way for device-level signing and passkey functionality, expanding Ethereum’s compatibility with modern hardware security ecosystems.

Developers also added the Count Leading Zeros Opcode via EIP-7939. This obscure-sounding tweak helps improve performance for zero-knowledge systems and offers potential defensive advantages against future quantum-computing risks. It’s not the kind of thing users notice in a wallet, but it’s essential groundwork for Ethereum’s long-term survival.

Setting the Stage for Faster, Bigger Upgrades

Fusaka signals a philosophical shift: Ethereum doesn’t want to move cautiously anymore. It wants to move confidently.

The upgrade may not include the large-scale UX shifts or staking revisions seen in Pectra, but its backend enhancements unlock scaling gains unseen since the Merge in 2022. This is the infrastructure work that future features will stand on.

Researchers are already mapping out Glamsterdam, the next major upgrade expected in 2026. If Fusaka is any indication, the pipeline ahead will be more aggressive, more iterative, and designed to keep Ethereum competitive in a world where L2 ecosystems grow faster than ever. Ethereum isn’t just evolving. It’s accelerating. Fusaka is the first real proof.

The debut of Grayscale’s Chainlink Trust ETF (GLNK) on NYSE Arca has sent a wave of optimism through the crypto market, giving Chainlink price its biggest mainstream visibility since the bull run of 2021. For the first time, U.S. investors can gain regulated ETF exposure to LINK — a project that has quietly evolved into the backbone of blockchain data infrastructure. The question now dominating the market: can Chainlink price ride this momentum all the way to $50?

ETF Catalyst Sparks Renewed Investor Interest

Grayscale’s GLNK launch represents a milestone both for Chainlink and the broader oracle sector. The ETF conversion from a private trust to a publicly traded product signals regulatory maturity and investor confidence. According to Grayscale, trading volume during its first day reached over 1.17 million shares — far beyond initial expectations — showing strong institutional and retail interest right from the opening bell.

The timing couldn’t be better. After months of sluggish price action, LINK’s entry into the ETF spotlight places it alongside recent listings for DOGE and XRP, both of which saw short-term rallies post-launch. The renewed visibility positions Chainlink as a key player in the data-layer narrative — a sector gaining traction as DeFi, tokenized assets, and AI-linked blockchain applications demand trusted oracle networks.

Chainlink Price Prediction: Chart Shows a Potential Trend Reversal

On the daily chart, Chainlink price has broken above the 20-day moving average and pushed through the midline of its Bollinger Bands, signaling the early stages of a bullish reversal. The Heikin Ashi candles have turned decisively green, confirming buying momentum after a long downtrend that extended from $21 to $12 between September and November.

The price now sits around $14.60, testing resistance near the upper Bollinger Band and the 50-day moving average. A clean breakout above this zone could target $16.80 in the short term, with further resistance at $18.50 and $21.20 — the latter representing a key psychological level where previous breakdowns occurred.

If momentum persists, Fibonacci extension levels suggest a path toward $25–$30, where the next heavy supply zone lies. Sustained volume and ETF-driven inflows could push LINK price into a mid-cycle rally, possibly setting the stage for the $50 narrative over the coming quarters.

Fundamentals Support the Long-Term Bull Case

Beyond the chart, Chainlink’s fundamentals are stronger than ever. The network now secures tens of billions in smart contract value across multiple chains and continues expanding through its Cross-Chain Interoperability Protocol (CCIP). CCIP adoption by major players like Swift, ANZ, and BNY Mellon has positioned Chainlink as the bridge between traditional finance and blockchain ecosystems.

The new ETF adds another layer — legitimizing LINK as an institutional-grade asset. It’s a direct endorsement that Chainlink is no longer just a DeFi component but part of critical blockchain infrastructure. This combination of regulatory access and real-world integration gives LINK price a multi-dimensional growth story heading into 2026.

Chainlink Price Prediction: Can LINK Price Really Hit $50?

Reaching $50 won’t happen overnight. It would require a sustained bull market, renewed on-chain activity, and consistent ETF inflows. However, with LINK trading around $14–$15, a move to $50 would represent a 230% gain — ambitious, but not impossible. Historically, Chainlink has delivered such runs during periods of strong fundamental catalysts and network expansion.

If the ETF continues attracting liquidity, and macro conditions improve (with Bitcoin stabilizing above $80,000 and DeFi volumes rebounding), LINK could enter a steady climb that mirrors its 2020–2021 trajectory. Under an optimistic scenario, $25–$30 could arrive within months, followed by an extended rally toward $50 in 2026 for $LINK.

Bottom Line

Chainlink’s ETF debut has reintroduced one of crypto’s most essential projects to mainstream investors. The technical chart hints at early signs of recovery, while the fundamental and institutional backdrop provides solid support for a longer-term rally.

If the current momentum holds and adoption accelerates through CCIP and ETF inflows, $Chainlink may finally have the runway it needs to reclaim its former highs — and possibly make $50 more than just a hopeful number.

Macro Context: Liquidity Wave Hits the Market

🇺🇸 The U.S. Treasury just bought back $12.5 BILLION of its own debt — the largest buyback ever recorded.

Why this matters:

• Debt buybacks = liquidity support
• Liquidity support = risk assets pump
• Risk assets pump = crypto rallies

This fresh injection of liquidity follows:

• Expectations of QE returning
• Market pricing in rate cuts
• A flood of money supporting the bond market
• Global central banks, including Japan, introducing competing stimulus plans

Even the only risk factor — a potential Bank of Japan rate hike — is softened by Japan’s $185B stimulus package announced simultaneously.

All of this sets a bullish tone for Q1–Q2 2026, and crypto is already reacting.

Ethereum Price Analysis: Strong Reversal from Support

$Ethereum bounced cleanly from the key support zone around $2,730, forming a strong V-shaped recovery.

ETH/USD 1-hour chart - TradingView

Key Observations From the Chart:

1. ETH broke back above the $3,200 resistance

$ETH is now consolidating right on this level — a strong sign that buyers are defending the breakout rather than taking profits.

2. Momentum is cooling, but still bullish

The Stoch RSI shows a pullback from overbought conditions, which usually happens after a powerful leg up. This isn’t bearish — it often precedes the next wave.

3. Structure remains strongly bullish

• Higher lows
• Higher highs
• Clean reclaim of major EMAs
• Strong correlation with BTC upward momentum

The $3,200 level is now the line to watch.

ETH Price Prediction: What Comes Next?

Upside Targets (Bullish Scenario)

With liquidity expanding and BTC holding above $90K:

1. $3,350 – Minor resistance: A retest of this zone is likely if BTC stays stable.

2. $3,500 – Major target: This is the next significant resistance level on the chart — marked previously as a local top. A break above $3,500 opens the door to:

3. $3,800 – Extension target: This would require strong BTC momentum and sustained liquidity inflows.

Downside Targets (If Market Pulls Back)

Should ETH lose the $3,200 area:

1. $3,050 – Local support: Likely to be tested if momentum cools.

2. $2,900 – Strong support: The level where buyers previously stepped in aggressively.

3. $2,730 – Major support zone: This is ETH’s resilience line — losing it would weaken the trend.

At the moment, none of these downside levels are being threatened.

How Bitcoin’s Return Above $90,000 Boosted ETH

Ethereum tends to perform strongly after Bitcoin stabilizes from a correction. Over the past 48 hours:

• Bitcoin reclaimed $90,000
• Market fear disappeared
• Liquidity injections from the U.S. Treasury boosted confidence
• Risk assets across equities and crypto rebounded

With BTC regaining dominance and momentum, ETH traders rotated back into the market.

Historically:

BTC stability + macro liquidity = ETH acceleration

This is exactly what we’re seeing now.

Regulators launch probe months after Italy's central bank warned that crypto's mainstream integration poses systemic financial dangers.

The EU Commission’s probe excludes Italy, where the country's competition authority is already pursuing separate proceedings against Meta.

Markets are hedging a Fed misstep, driving gold and silver higher while Bitcoin lags as traders reassess risk.

A federal judge rejected OpenAI’s bid to limit discovery, directing the company to produce de-identified user logs central to the case.

Stablecoins have the potential to broaden individuals’ access to financial services, but that may come at the cost of central banks, per IMF.

Despite the negative performance on the market, XRP is still feeling good in terms of fundamental metrics.

The crypto market meets Friday with SpaceX moving $100 million in BTC to Coinbase, a stablecoin exploit draining USPD and a fresh Cloudflare failure knocking Coinbase and Upbit offline as the Bitcoin price slips again.

Ripple CTO David Schwartz finally opened his XRPL Hub to the public, posting uptime stats, peer data and traffic charts, turning a quiet internal moment into the most-talked-about setup in the XRP community today.

The market is not seeing enough inflows to enter a proper recovery: unfortunately, SHIB is not being exceptional in the current setup.

The two cryptocurrency giants have finally met in person for the first time. .

TLDR:

• Coinbase powers over 80 percent of crypto ETF custody and trading in the current market
• Private companies staying private longer creates demand for blockchain-based capital formation
• Armstrong identifies Ethereum, Solana, and Base as networks positioned to host tokenized assets
• Coinbase manages half a trillion in assets it plans to use for tokenized product distribution

Coinbase CEO Brian Armstrong delivered a bold forecast for the future of finance during a recent interview. He argued that the entire financial system will eventually operate on blockchain networks. 

Armstrong pointed to shifting market dynamics and regulatory burdens as catalysts for this transformation. His remarks come as Coinbase expands its tokenization infrastructure to capture the emerging on-chain capital markets.

Tokenization Emerges as Core Growth Strategy

Armstrong highlighted how private companies now stay private longer due to regulatory complexity. 

Sarbanes-Oxley compliance costs have made public listings less attractive for many firms. This trend creates growing demand for alternative capital formation methods. The Coinbase chief sees blockchain technology as the natural solution to modernize fundraising mechanisms.

The exchange already holds a dominant position in crypto infrastructure. 

Coinbase provides custody and trading services for over 80 percent of cryptocurrency ETFs. This existing footprint positions the company to lead as traditional assets migrate to blockchain rails. 

Armstrong emphasized that tokenization will extend beyond digital currencies to include stocks and private equity.

The CEO drew parallels between tokenization and blockchain’s impact on payments. Crypto networks already revolutionized how value transfers across borders. 

Armstrong believes the same technological shift will reshape capital markets. Companies will tokenize shares to raise funds more efficiently than through traditional channels.

Coinbase plans to market tokenized products directly to its customer base. The platform manages roughly half a trillion dollars in retail and institutional assets. 

Armstrong wants to distribute tokenized funds and securities through these existing channels. This strategy would create new revenue streams while deepening client relationships.

Ethereum and Solana Stand to Gain Most

Armstrong identified specific blockchain networks as primary beneficiaries of financial tokenization. 

Ethereum and Solana emerged as his top picks alongside Coinbase’s proprietary Base network. These platforms offer the speed and liquidity needed to support large-scale asset tokenization. Developer activity on these chains provides the technical foundation for tokenized markets.

The CEO noted that successful tokenization requires permission from asset issuers. 

Coinbase will work directly with companies and fund managers to bring their products on-chain. This partnership approach contrasts with competing visions of fully decentralized finance. Armstrong sees collaboration with traditional finance as essential for mainstream adoption.

His comments suggest Coinbase views itself as a bridge rather than a competitor to established financial institutions. The company already partners with major asset managers on crypto ETF products. 

Armstrong expects similar relationships will emerge as stocks and funds move to blockchain networks. The exchange aims to provide infrastructure while traditional players maintain client relationships.

Market observers will watch whether Armstrong’s timeline proves accurate. Tokenization has gained traction in pilot programs and smaller markets. Scaling to encompass global capital markets remains an enormous technical challenge. 

Coinbase’s heavy investment signals confidence that blockchain infrastructure is ready for that transition.

The post Coinbase CEO Armstrong Predicts Financial System Will Move On-Chain appeared first on Blockonomi.

TLDR

• The CFTC has approved spot crypto trading on regulated U.S. exchanges for the first time in history.
• This decision marks a significant step in advancing the U.S. vision to become the global leader in crypto markets.
• CFTC-registered futures exchanges will now allow spot crypto products to be traded under regulated conditions.
• Acting Chairman Caroline Pham emphasized the importance of offering Americans safe and regulated crypto markets.
• Bitnomial, a regulated exchange, will launch the first-ever leveraged retail spot crypto exchange under CFTC rules.

The U.S. Commodity Futures Trading Commission (CFTC) has approved the first-ever spot crypto trading on regulated exchanges. This decision marks a major development in the U.S. crypto landscape, following months of public consultations and expert discussions. The approval paves the way for listed spot crypto products to trade on federally regulated markets.

CFTC Announces Historic Approval for Spot Crypto Trading

The CFTC’s Acting Chairman Caroline Pham announced the approval, which allows spot crypto products to trade on CFTC-registered futures exchanges. She highlighted that this is a crucial step in advancing the vision to make the U.S. the global leader in cryptocurrency markets.

“This milestone reflects our efforts to enhance market integrity and offer secure trading environments,” Pham stated.

Pham emphasized the commission’s role in regulating the crypto space as the U.S. government works to maintain leadership in the global digital asset market.

“Americans need access to safe, regulated markets, especially after recent issues with offshore exchanges,” she added.

This move follows a long-standing effort to establish comprehensive rules for crypto markets under the Trump administration’s vision.

The approval implements the recommendations of the Trump administration’s Working Group on Digital Asset Markets. The CFTC’s decision aligns with the plan to create a regulated environment that supports both retail and institutional traders. This step follows extensive consultations with stakeholders and input from regulators and CFTC staff.

The launch of “Crypto Sprint” also played a key role in advancing public dialogue about the future of crypto regulations. The CFTC engaged in detailed discussions with the industry to create a balanced regulatory framework. These efforts aim to ensure that the U.S. remains competitive in the crypto space while protecting consumers.

Bitnomial to Launch First Leveraged Retail Spot Crypto Exchange

In line with the CFTC’s announcement, Bitnomial, a regulated exchange, will launch the first-ever leveraged retail spot crypto exchange. This exchange will operate under the CFTC’s regulatory framework and offer both retail and institutional traders a chance to participate in spot crypto markets. The platform will feature net settlement and portfolio margining across spot, futures, and options.

Luke Hoersten, Bitnomial’s CEO, praised the new platform, stating,

“This marks the beginning of leveraged spot crypto trading in a regulated U.S. environment.”

He emphasized that this approach eliminates counterparty risks, enhancing capital efficiency for traders. The exchange will allow traders to access a fully regulated market under the same standards applied to U.S. futures and options.

The CFTC’s role in this approval underscores the agency’s commitment to ensuring market integrity. The commission has long worked toward establishing a regulatory framework that aligns with U.S. standards. This approval is a testament to the CFTC’s ability to adapt to the growing demand for digital asset regulation.

With the introduction of spot crypto products, the CFTC continues to shape the future of U.S. crypto markets. The decision also highlights the importance of regulatory oversight as the crypto industry matures. The agency’s focus remains on safeguarding traders and ensuring fair competition in the market.

The post CFTC Approves Spot Crypto Trading on Regulated U.S. Exchanges appeared first on Blockonomi.

TLDR:

• XRP price trades at $2.06 with $3.17 billion in daily volume after declining 6.16% over seven days
• The $2.04 Fibonacci support level serves as a critical decision point for near-term direction
• Bulls target $2.41 resistance break while bears eye potential drop to $1.64 macro support
• Trading activity remains elevated as market participants position ahead of key technical test

XRP has dropped to $2.06 after sliding nearly 7% over the past week. 

The digital asset now approaches a critical support zone at $2.04 that could determine its next major move. Trading volume remains robust at over $3.1 billion in 24 hours despite the recent price weakness. 

Market participants are closely monitoring this level as it represents a key technical threshold.

XRP Price Action Shows Weakness After Brief Recovery

The cryptocurrency has given back recent gains after bouncing from lower levels earlier in the correction phase. 

XRP declined 4.89% in the last 24 hours according to data from CoinGecko. The token briefly showed strength following a bounce off a local retracement level but has since turned lower.

The $2.04 mark represents a macro Fibonacci retracement level that previously acted as strong support during this correction. 

XRP broke above this zone with conviction but now needs to prove it can hold as buyers step in. A failure to maintain this level would signal continued weakness in the near term.

The digital asset traded as high as $2.41 in recent sessions before sellers regained control. 

Bears have pressured the price back toward major support zones. Volume data suggests active participation from both buyers and sellers at current levels.

Two Potential Paths Emerge For XRP

Technical analysis from trader CasiTrades outlines two distinct scenarios based on how XRP responds at $2.04. 

The first scenario involves a successful defense of this support level followed by a move above $2.41 resistance. Such a sequence would open the door for a rally toward $2.65 and potentially higher targets between $7 and $10.

The alternative path sees XRP losing the $2.04 support and declining toward $1.64. 

This deeper retracement would complete a full macro correction to the 0.618 Fibonacci level. Many traders view such a move as a final shakeout before a stronger upward trend develops.

Current price action suggests the market is testing resolve at these key levels. Buyers need to defend $2.04 to prevent further downside pressure. A clean break below this zone would likely trigger additional selling as stop losses get hit.

The next few trading sessions will prove critical for XRP’s medium-term trajectory. Market structure remains uncertain as both bulls and bears position for the next major move.

The post XRP Price Dips: $2.04 Support Key as Expert Outlines Two Possible Paths appeared first on Blockonomi.

TLDR

• Ophelia Snyder, co-founder of 21Shares, doubts Bitcoin will replicate its early 2025 price gains in 2026.
• Snyder attributes the uncertainty to ongoing market volatility, which may not resolve in the short term.
• Bitcoin often sees renewed inflows into ETFs in January, but current market sentiment is low.
• Bitcoin reached a peak of $125,100 in October 2025 but entered a downtrend after a $19 billion market liquidation event.
• Snyder remains optimistic about Bitcoin’s long-term potential, citing growing interest in Bitcoin ETFs and government adoption.

21Shares co-founder Ophelia Snyder recently shared her insights on the outlook for Bitcoin as 2026 approaches. She expressed doubts that Bitcoin will replicate the price surge seen earlier in 2025. According to Snyder, the current market volatility is unlikely to resolve quickly, making such a performance challenging. She added that Bitcoin’s future performance will largely depend on broader market sentiment in the coming months.

Snyder highlighted that January often brings renewed inflows into Bitcoin exchange-traded funds (ETFs) as investors make adjustments to their portfolios. Historically, this has fueled upward movement in Bitcoin price, as new investment capital enters the market. However, Snyder remains uncertain about Bitcoin’s potential to repeat its early 2025 price gains due to the present low levels of positive sentiment.

Bitcoin’s Price Action in 2025 and the January Effect

In January 2025, Bitcoin reached a peak of $109,000, just before the inauguration of former U.S. President Donald Trump. Traders had hoped that Trump’s crypto-related policies would boost Bitcoin’s value. Shortly after, Bitcoin hit its highest value of the year, reaching $125,100 on October 5. However, the market shifted after the $19 billion crypto market liquidation event on October 10.

Following this event, Bitcoin entered a downtrend, and many market participants adjusted their short-term expectations. Although Bitcoin price dipped nearly 10% in the last 30 days, Snyder remains cautiously optimistic about its long-term prospects. She attributes the recent correction to broader market conditions rather than crypto-specific issues, pointing out that a risk-off sentiment has affected multiple asset classes.

Factors Driving Long-Term Optimism for Bitcoin

Despite the short-term challenges, Snyder maintains a long-term bullish outlook for Bitcoin. She pointed to the increasing adoption of Bitcoin ETFs on major platforms as a key factor that could propel the cryptocurrency higher. Additionally, Snyder believes that the growing interest in digital assets as a store of value, alongside government adoption, could further fuel Bitcoin’s demand.

On the other hand, some risks could hinder Bitcoin’s growth. These include sustained strength in gold, which could draw traditional investors away from Bitcoin. A continued risk-off sentiment in broader financial markets could also dampen Bitcoin’s appeal. Still, Snyder sees the current price dip as a temporary reaction rather than a permanent trend.

Despite the uncertainty surrounding short-term movements, some industry experts remain more optimistic. BitMine chairman Tom Lee has forecasted that Bitcoin will reach a new high before January 2026. Historically, Bitcoin has shown positive returns in January, with an average gain of 3.81% since 2013. Whether this trend will hold in 2026 remains to be seen, but the year-end outlook is mixed.

The post Bitcoin Price Likely to Fall Short of January 2025 High, Says Snyder appeared first on Blockonomi.

TLDR

• Changpeng Zhao plans to expand Binance’s operations in the US following his presidential pardon.
• Zhao expresses his intention to help make the US the global capital of cryptocurrency.
• Binance US, despite regulatory challenges, remains operational as a smaller business.
• Zhao praises the US for its leadership in crypto regulatory efforts and policy development.
• The recent passing of the GENIUS Act and the development of the CLARITY Act are seen as key steps for crypto growth.

Changpeng Zhao, the founder of cryptocurrency exchange Binance, plans to push the US towards becoming a global crypto hub. During the Binance Blockchain Week in Dubai on December 3-4, Zhao shared his vision for expanding the company’s operations in the US. His comments come after receiving a pardon from President Donald Trump, which he believes clears the way for Binance’s growth in the region.

Changpeng Zhao Appreciates Presidential Pardon, Eyes US Expansion

Changpeng Zhao expressed his gratitude for the pardon he received from President Trump. In a press conference at the event, Zhao said, “I’m very appreciative of the pardon from Trump.” This development, according to Zhao, enables Binance to freely operate across borders, including in the United States. He emphasized his intention to help make America the “capital of crypto.”

Zhao explained that the United States had once been a challenging market for Binance, especially during the Biden administration. Binance had attempted to withdraw from the US market in the past, halting investments and scaling down operations. However, with the pardon, Zhao views the US as an emerging land for Binance and aims to reverse the company’s previous retreat.

Binance’s US Operations and Regulatory Challenges

Binance US, the company’s American arm, launched in September 2019 to serve US residents. Despite its launch, Binance US has remained a small business, operating under significant regulatory pressure. In 2023, the Securities and Exchange Commission (SEC) filed a lawsuit against Binance US, resulting in the company losing access to banking services and some state licenses.

Despite these challenges, Zhao still views the US as a crucial market. He pointed out that the US is home to many technology and blockchain professionals, which is vital for the industry’s future. Zhao acknowledged that large crypto players like Binance are not technically based in the US, but he expressed his desire to bring these businesses back to American soil.

Zhao highlighted the need for clearer regulations to foster the growth of cryptocurrencies. He mentioned working with more than a dozen countries to help shape and implement digital asset regulations. Zhao also praised the US for taking the lead in developing regulatory frameworks, even if progress is still in its early stages.

He pointed to the recent passing of the GENIUS Act, which addresses stablecoins, and the ongoing development of the CLARITY Act, which aims to define digital assets. Zhao expressed confidence that these regulatory changes would pave the way for better integration of crypto businesses with traditional financial systems, which is necessary for broader adoption.

Zhao’s Legal Struggles and His Commitment to the Industry

Changpeng Zhao also addressed his past legal troubles, including a prison sentence in April 2024. He served four months after pleading guilty to violating US money laundering laws. Despite this, Zhao maintained that no harm was caused to users or the broader crypto community.

Zhao remarked, “I went through a lot of challenges… but I know no one got hurt.” He assured that his actions did not involve fraud or harm to users, giving him peace of mind. His experience has not deterred him from pushing forward with Binance’s growth, especially in the US market.

Changpeng Zhao’s recent statements at the Binance Blockchain Week mark a renewed commitment to expanding Binance’s influence in the United States. With the pardon, Zhao sees the US as a key market for future growth and innovation.

The post Changpeng Zhao Vows to Make US Crypto Hub After Trump Pardon appeared first on Blockonomi.

Although most of the cryptocurrency market has turned red today after BTC’s failed breakout attempt at $94,000, Ripple’s native token has dropped the most, which is somewhat surprising given the impressive inflows into the spot XRP ETFs in the US.

However, other developments around the overall XRP ecosystem might have increased the immediate selling pressure. One of them is the behavior of whales, which have continued to dispose of large quantities of the token.

Although they offloaded more than 1.4 billion coins in the span of roughly a month, as reported in early November, they have not changed their tune and continue to do so. The latest selling spree came earlier this week, in which 140,000,000 tokens were “sold or redistributed,” according to Ali Martinez.

Another plausible reason could be the reduced demand for the spot XRP ETFs. As reported earlier this week, the financial vehicles linked to Ripple’s token outperformed the counterparties for BTC, ETH, and SOL since their inception in mid-November but the amount of inflows has been gradually declining.

They are still in the green as their impressive streak continues, but the total net inflows for December 4 was just $12.84 million, which is nowhere near the records of $243 million (November 14), $164 million (November 24), and $118 million (November 20).

The latest rejection at $2.20 and the subsequent retracement to the current levels of $2.07 have turned the crowd’s sentiment as well. Santiment noted earlier that the social media FUD surrounding XRP has reached its most intense level since October.

However, this could actually be a bullish sign for the asset as the last time this happened its price skyrocketed by more than 20% in the span of just a few days.

For now, though, XRP remains almost 10% down YTD, even though the company behind it has turned 2025 into its best year on record.

The post Why Is Ripple’s (XRP) Price Down Today? appeared first on CryptoPotato.

Negative comments about Ripple’s XRP token across social media have reached their highest point in over a month. This wave of doubt has hit at a time when the asset’s price is struggling, and is down roughly 31% over the last two months, despite strong institutional demand for its new spot ETFs.

Historical data suggests such extreme pessimism has often come right before short-term price jumps for the token.

Market Sentiment Reaches a Potential Turning Point

According to the latest data collected by social analytics platform Santiment, social media fear, uncertainty, and doubt (FUD) surrounding XRP has hit its most intense level since October.

The firm’s methodology tracks the ratio of bullish to bearish comments across platforms like X, Reddit, and Telegram, and it noted that the last time a similar level of negative sentiment was observed was on November 21.

Following that date, XRP’s price jumped 22% over the next three days before the advance stopped. This pattern matches a known market principle where prices sometimes move opposite to prevailing crowd psychology, setting the stage for a potential counter-trend bounce.

This gloomy social mood also contrasts sharply with positive on-chain and institutional signals, with recent data showing the XRP Ledger’s Velocity metric, which tracks how frequently the token changes hands, reaching a yearly high. Analysts say that this means there’s a major increase in economic activity and liquidity on the network.

Furthermore, as reported previously, U.S. spot XRP ETFs have seen net inflows for 13 consecutive trading days since their mid-November launch, attracting nearly $900 million in total. These funds have outperformed their Bitcoin and Ethereum counterparts over the same period.

A Technical and Historical Perspective

From a chart perspective, analysts are watching a key resistance level around $2.28. According to them, a sustained break above this price could open a path toward $2.75. The asset is currently trading around $2.09, having fallen over 4% in the past 24 hours and nearly 8% over the last month.

Some technical observers have also pointed to similarities between the current setup and patterns seen in 2016-2017, before XRP’s historic bull run. They noted that momentum indicators like the Stochastic RSI on weekly charts are in oversold territory, a condition that has sometimes marked the end of recent downturns.

Whether the current negative sentiment acts as a contrarian catalyst or simply reflects deeper issues remains the key question. The asset is trading more than 40% below its all-time high of $3.65, set in July 2025.

The post XRP Social Metrics Hit October Lows: Why Is That Bullish for Ripple’s Price? appeared first on CryptoPotato.

[PRESS RELEASE – Dubai, United Arab Emirates, December 5th, 2025]

Decentralized AI infrastructure startup closes seed and strategic rounds as it accelerates toward mainnet launch.

DeepNode, a decentralized artificial intelligence network aiming to democratize AI development, has successfully raised $5 million across two funding rounds: a $2 million seed round at a $25 million valuation and a subsequent $3 million strategic round at a $75 million valuation.​

The funding represents a significant milestone for the project, which is positioning itself as the infrastructure for “open intelligence”, a network where AI developers, compute providers, and validators can collaborate and earn rewards without relying on centralized tech giants.​

Community-First Seed Round

DeepNode’s seed round included participation from community members, with support from key network validators such as WildSageLabs from RoundTable21 and Rizzo from DNA, as well as infrastructure partner Gateway.FM.

What makes this raise truly special is that it was driven by our community. The validators, miners, and early adopters pushing decentralized AI forward – the company stated in its announcement on X.

The approach signals DeepNode’s commitment to building what it calls a “community-first” ecosystem, where those who will actually operate the network infrastructure have early ownership stakes.​

Strategic Round Brings Global Infrastructure Investors

The strategic round was led by a consortium of Web3 and AI infrastructure investors, including Blockchain Founders Fund, Side Door Ventures, TBV, IOBC Capital, Fomo Ventures, and Nestoris. These investors bring expertise spanning enterprise integrations, operational scaling, and go-to-market support.​

For the DeepNode team, the strategic backing represents more than capital; it’s validation of the decentralized intelligence thesis. The investors have track records in Web3 infrastructure and understand how decentralized systems can reshape industries and digital economies.​​

Building the Multi-Tool for AI

DeepNode differentiates itself from other decentralized AI projects through what it calls a “multi-tool” approach. Rather than focusing solely on large language models or a single use case, the platform is designed to handle any predictive or decision-making task across multiple industries. From healthcare diagnostics to fraud detection to crypto trading and more.​

The network operates using a novel Proof-of-Work Relevance (PoWR) consensus mechanism that rewards AI contributions based on actual utility rather than just computational output. Models compete and evolve based on real-world performance, with contributors earning emissions for valuable work.​

Infrastructure Development and Long-Term Planning

DeepNode is building on Base, an Ethereum Layer-2 network, to leverage Ethereum’s security while maintaining transaction costs below $0.01. The company plans to launch its mainnet by the end of Q1 2026, with foundation-supported domains already in development across multiple verticals.

The combined funding will support DeepNode’s multi-year roadmap to develop an open intelligence network. According to the team, the network aims to enable builders to retain intellectual property rights, allow contributors to earn based on performance, and provide enterprises with private participation options while leveraging shared network effects.

Backed by a mix of ecosystem participants and strategic investors, DeepNode is pursuing a model of AI development that emphasizes collaboration, transparency, and contributor ownership.

About DeepNode

DeepNode is the infrastructure for open intelligence. A decentralized AI network where developers, validators, and compute providers collaborate, own their IP, and earn rewards for providing real-world utility via Proof-of-Work Relevance (PoWR). Built on Base for low-cost scalability, mainnet launches in 2026, powering predictions across healthcare, finance, trading, and beyond.

The post DeepNode Secures $5 Million Across Seed & Strategic Rounds to Build Open Intelligence Network appeared first on CryptoPotato.

Lee echoed his comments from an earlier interview, opining that there is no longer a four-year cycle and Bitcoin will make new highs in early 2026, speaking at this week’s Binance blockchain conference in Dubai on Thursday.

He added that BTC will mirror the performance of the S&P 500 US stock index next year and predicted a price high of $300,000. If that’s the case, “I think Ethereum is lights out,” he said before adding a more outlandish price prediction.

“In the next year it [ETH] could be over $20,000.”

Tom Lee at Binance Blockchain Week: 2026 Outlook

– S&P breakout
– Bitcoin $300k
– Ethereum $20k

Supercycle is loading.. $BTC $ETH $BMNR pic.twitter.com/KGVvDZrnve

— SamAlτcoin.eth (@SAMALTCOIN_ETH) December 4, 2025

The Bigger The Base, The Bigger The Breakout

Lee also reiterated the notion that Wall Street is starting to tokenize securities, and most of this is being done on Ethereum. The network currently has more than 70% market share of real-world asset tokenization value when layer-2s and EVM platforms are included, according to RWA.xyz.

He also pointed out that Ether has been rangebound for five years, but it has begun to break out. The bigger the base, the bigger the breakout, he said, explaining why he turned BitMine into an ETH treasury company.

“I think Ethereum is going to become the future of finance, the payment rails of the future, and if it gets to 0.25 relative to Bitcoin, that’s $62,000. Ethereum at $3,000 is grossly undervalued.”

Tom Lee says the setup for Ethereum is simple:

“The bigger the base, the bigger the breakout”

ETH spent years building the same kind of base it had before the move from $90 → $4,866

If the pattern repeats, the next leg could be far larger than people expect

(Shared at… pic.twitter.com/aMBWwLyZ0J

— Tom Lee Tracker (Not actually Tom) (@TomLeeTracker) December 4, 2025

BitMine is putting its money where its mouth is with another Ether purchase, bringing the number of buys to four this week alone, according to Lookonchain on Friday.

The firm scooped another 41,946 ETH worth $131 million on Thursday, it reported. Although the buys have not been officially confirmed, BitMine appears to have purchased more than $350 million worth of the asset this week.

Is ETH Ready For a Pump?

Analyst ‘Sykodelic’ echoed the bullish sentiment, stating on Thursday that “ETH looks ready to push much higher.”

“In the last five years, every single time the 1-day RSI has gone from overbought down to oversold, and then broken the trend, it has pumped a minimum of 45%. That takes us to $4,300.”

Ether was trading at $3,170 during the Friday morning Asian session after failing to break resistance at $3,200 yesterday.

The asset has gained 13% over the past fortnight, recovering from its double dip below $3,000, and appears to be forming a W-shaped bottom.

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Around 37,000 Bitcoin options contracts will expire on Friday, Dec. 5, and they have a notional value of roughly $3.4 billion. This expiry event is much smaller than recent ones, so there is not likely to be any impact on spot markets, which have stabilized somewhat after Monday’s sell-off and quick recovery.

US government economic data is flowing again, and labor market and employment data look a little gloomy, which is good news for Federal Reserve rate cut expectations next week. The probability of a 0.25% rate cut on December 10 has now increased to 87% according to CME futures.

Bitcoin Options Expiry

This week’s batch of Bitcoin options contracts has a put/call ratio of 0.94, meaning that longs and shorts are almost evenly matched. Max pain is around $91,000, according to Coinglass.

Open interest (OI), or the value or number of Bitcoin options contracts yet to expire, is highest at $100,000, which has $2.7 billion at this strike price on Deribit. There is also almost $2 billion in OI at $80k and $85k targeted by short sellers. Total BTC options OI across all exchanges is at $55 billion, according to Coinglass.

The options market has continued to develop as institutional participation has grown significantly in 2025, reported Levitas on Thursday.

Bitcoin options on Deribit recorded their highest monthly volume in October 2025 at 1.49 million contracts, followed by November at 1.33 million, it stated. Year-to-date Bitcoin options volume stands at 10.27 million contracts, not including December, which is a 36% increase from 2024.

In 2025, the options market has continued to develop as institutional participation has grown significantly.

On Deribit, BTC options recorded their highest monthly volume in October 2025 at 1.49M contracts, followed by November at 1.33M. Year-to-date BTC options volume stands… pic.twitter.com/AlBVIBuO6F

— Laevitas (@laevitas1) December 3, 2025

Earlier this week, crypto options provider Greeks Live said the group shows a cautiously bullish bias “with traders calling bottoms and expecting upside, though sentiment is tempered by frustration over choppy price action and false moves.”

“Key focus remains on whether current levels around $95k-$100k represent the final bottom, with traders watching BTC term structure and put skew showing bearish positioning despite bullish calls.”

In addition to today’s batch of Bitcoin options, around 210,000 Ethereum contracts are also expiring, with a notional value of $667 million, max pain at $3,050, and a put/call ratio of 0.78. Total ETH options OI across all exchanges is around $11.3 billion. This brings Friday’s combined crypto options expiry notional value to around $4 billion.

Spot Market Outlook

Crypto markets have retreated slightly over the past day, with total cap falling 1.7% to $3.23 trillion. Bitcoin has failed to break resistance at $93,000, falling below it at the time of writing. Resistance for Ether remains at $3,200, with the asset trading at $3,177 at the moment.

Altcoins are taking bigger hits with heavier losses for XRP, Solana, and Hyperliquid.

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