Coinbase's expansion into prediction markets and tokenized stocks could significantly reshape on-chain finance and trading dynamics.

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Do Kwon receives 15 years in prison for his role in the Luna crash sentencing, following the $40B collapse of the Terra ecosystem.

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The CFTC withdraws outdated crypto delivery guidance to support digital asset reform and streamline regulations for evolving markets.

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XRP ETF inflows have continued for 19 straight days, signaling ongoing investor interest since US XRP-focused ETFs launched.

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Caliber's LINK staking could enhance Chainlink's infrastructure, potentially boosting network reliability and shareholder returns.

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Bitcoin Magazine

CFTC Scraps ‘Outdated and Overly Complex’ Crypto Guidance as U.S. Regulations Evolve

The Commodity Futures Trading Commission (CFTC) is rolling back legacy policy on digital assets, marking another step in its reorientation toward regulated crypto markets. 

Acting CFTC Chairman Caroline D. Pham said the agency is withdrawing its years-old guidance on the “actual delivery” of virtual currencies, a document that had shaped how firms could custody and settle digital asset transactions since 2020.

The decision clears a path for new guidance that reflects the rise of tokenized markets, recent legislation and the CFTC’s growing oversight of spot crypto trading.

“Eliminating outdated and overly complex guidance that penalizes the crypto industry and stifles innovation is exactly what the Administration has set out to do this year,” Pham said. 

Pham added that the move shows the agency can protect U.S. traders while supporting broader access to regulated markets.

The withdrawn advisory outlined the conditions under which virtual currency could be considered “delivered” in retail commodity transactions. The framework was drafted in an era when regulated digital asset infrastructure was limited and focused on Bitcoin custody and settlement. 

Since then, Congress passed the GENIUS Act, the CFTC opened the door to regulated spot trading, and tokenization has become a core focus across major financial institutions. Staff now views the 2020 advisory as out of step with current market realities.

The withdrawal also advances the CFTC’s effort to implement recommendations from the President’s Working Group on Digital Asset Markets. 

The CFTC’s broader crypto policy turn

The announcement builds on a series of steps taken in early December that signal an effort to bring crypto activity onshore and under federal supervision. 

Earlier this month, the agency launched a pilot program that permits Bitcoin and other crypto to serve as collateral in regulated derivatives markets. The program includes detailed reporting and risk-management requirements for futures commission merchants, along with updated guidance on how tokenized assets fit within existing CFTC rules.

Under the pilot, firms must submit weekly reports that itemize the digital assets held in customer accounts and notify regulators of any material incidents tied to tokenized collateral. 

The structure is meant to provide the CFTC with visibility into operational and custody risks while firms test the use of crypto in margin accounts.

The agency also issued a no-action position for FCMs that accept non-securities digital assets, including payment stablecoins, clarifying how capital and segregation requirements apply. At the same time, staff withdrew restrictions from 2020 that had limited the use of digital assets as collateral.

CFTC’s guidance with U.S. spot crypto markets 

The CFTC also approved federally regulated spot Bitcoin and crypto trading for the first time. Bitnomial, a U.S. derivatives platform, will begin offering spot, perpetuals, futures and options on a single exchange under full CFTC supervision next week. 

The exchange’s structure supports unified margin and net settlement across product types, reducing redundant collateral requirements for traders.

Pham said the expansion of spot trading under CFTC oversight offers U.S. traders a secure alternative to offshore venues and creates an environment where domestic firms can operate without state-by-state uncertainty.

The agency’s shift extends beyond trading. Polymarket, a crypto-based prediction market, secured approval to relaunch in the U.S. after upgrading its compliance systems and acquiring a registered platform. 

The CFTC has said its broader goal is to strengthen oversight of digital markets without blocking the adoption of new technology.

In other news, the CFTC has approved Gemini’s application for a Designated Contract Market license, clearing the way for the exchange to launch a prediction market and potentially expand into crypto futures, options, and perpetual swaps.

Gemini first applied for the license in 2020, well before the recent surge of interest in prediction markets and platforms.

This post CFTC Scraps ‘Outdated and Overly Complex’ Crypto Guidance as U.S. Regulations Evolve first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Bitcoin Price Fights For $90,000 Despite Fed Rate Cuts

The bitcoin price fell on Wednesday night into Thursday, even after the U.S. Federal Reserve lowered interest rates, as Fed Chair Jerome Powell signaled a cautious approach heading into 2026.

On Wednesday, the Fed cut its benchmark rate by 25 basis points to 3.50%–3.75%, a move widely expected by markets. However, the 9–3 split among Federal Open Market Committee (FOMC) members and Powell’s hawkish remarks during the press conference tempered investor enthusiasm for risk assets, including cryptocurrencies. 

One official favored a deeper 50-basis-point cut, while two voted against any reduction.

The Bitcoin price briefly jumped over $94,000 but then dropped below $90,000 and stabilized  around $89,730 at the time of writing. 

Bitfinex analysts shared with Bitcoin Magazine that the Fed’s unexpectedly hawkish tone surprised markets, causing a price reversal and kept risk appetites in check. 

The Fed’s updated “dot plot” shows little consensus for more than a single 25-basis-point cut in 2026, with stronger growth forecasts and shifting tax policy limiting near-term easing.

Timot Lamarre, director of market research at Unchained, wrote to Bitcoin Magazine that “
There is so much to be bullish about in the bitcoin space – from Square facilitating bitcoin payments to large institutions like Vanguard now allowing their clients access to bitcoin ETFs to quantitative tightening coming to an end.”

Lamarre said that bitcoin’s recent price movements show a gap between growing adoption and the price increase that usually comes with higher demand.

Bitcoin price decline and broader market pullback 

Bitcoin price’s recent pullback also reflects broader market concerns. Technology stocks, including Oracle, suffered after disappointing earnings and warnings about slower-than-expected AI-related profits. 

Oracle shares fell 11% in after-hours trading following revenue and profit forecasts below analysts’ expectations.

The Fed’s outlook for 2026 suggests only one additional rate cut, fewer than markets had anticipated. Asian stock markets declined, and U.S. equity futures pointed lower, while European trading remained subdued. 

Standard Chartered recently revised its year-end Bitcoin forecast, lowering its target from $200,000 to $100,000, citing a slowdown in corporate treasury buying and reliance on ETF inflows to support future price gains.

Bernstein analysts recently said that they see a structural shift in Bitcoin’s market cycle, meaning that the traditional four-year pattern has broken. They forecast an elongated bull cycle driven by steady institutional buying, which offsets retail selling, and minimal ETF outflows. 

The bank raised its 2026 price target to $150,000 and expects the cycle to peak near $200,000 in 2027, maintaining a long-term 2033 target of roughly $1 million per BTC. 

Meanwhile, JPMorgan remains bullish over the next year, projecting a gold-linked, volatility-adjusted Bitcoin target of $170,000 within six to twelve months, factoring in market fluctuations and mining costs.

Analysts say Bitcoin’s decline after the Fed announcement reflects a “sell the fact” dynamic. “The market had fully priced in the cut ahead of time,” said Tim Sun, senior researcher at HashKey Group. “Concerns over political and economic developments in 2026, combined with potential inflation from AI-driven capital expenditure, are weighing on risk sentiment.”

Last week, Bitcoin price saw a volatile ride, dipping to $84,000 before bulls pushed it up to $94,000, then dropping slightly below $88,000, and closing the week at $90,429.

The market now faces key support at $87,200 and $84,000, with deeper support zones around $72,000–$68,000 and $57,700. 

Resistance levels stand at $94,000, $101,000, $104,000, and a thick zone between $107,000–$110,000, with momentum likely slowing above $96,000.

Typically, rate cuts lead to bullish momentum, but the market may have already priced in this month’s rate cut. The bitcoin price has fallen roughly 28% since its October all-time high. 

At the time of publishing, the bitcoin price is at $90,114.

This post Bitcoin Price Fights For $90,000 Despite Fed Rate Cuts first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Klarna Partners With Privy to Explore Use of Crypto Wallets

Just weeks after announcing a stablecoin, Swedish fintech giant Klarna is taking another step into crypto. The company has teamed up with Privy, a wallet infrastructure platform owned by Stripe, to explore digital asset solutions for its users.

The partnership will focus on research and development of crypto wallet features, the company said. The two aim to make it easier for everyday users to store, use, and send digital assets. The move builds on the company’s recent launch of KlarnaUSD, a U.S. dollar-backed stablecoin issued on the Tempo blockchain.

“Millions already trust Klarna to manage everyday spending, saving, and shopping,” said Sebastian Siemiatkowski, CEO and co-founder. “That puts us in a unique position to bring crypto into the financial lives of normal people, not just early adopters. With Privy, we plan to build products that feel as intuitive as any other Klarna feature.”

KlarnaUSD was launched with Tempo and Bridge, a Stripe-backed stablecoin infrastructure provider. 

The token is live on Tempo’s testnet and expected to launch on mainnet in 2026. The fintech giant said the stablecoin could reduce global cross-border payment costs, currently estimated at $120 billion annually.

100 million accounts coming to crypto via Klarna

Privy powers over 100 million accounts for more than 1,500 developers. The platform supports crypto-native applications like OpenSea and Hyperliquid. 

Henri Stern, CEO and co-founder of Privy, said the partnership will allow users to hold a wide variety of digital assets, trade safely, and transact with friends anywhere in the world.

“We’re proud to partner with world-class fintechs like Klarna, providing the secure, enterprise-ready infrastructure they need,” Stern said. “Privy aims to be the backbone for any business that wants to harness the exciting capabilities crypto and stablecoins offer.”

The initiative reflects a growing trend. Traditional fintechs are now testing ways to integrate crypto tools into everyday consumer finance. The company said any future wallet or crypto product would require the necessary regulatory approvals before launch.

Venture capital firm a16z estimates that 716 million people globally hold cryptocurrencies. Between 40 million and 70 million transact with crypto each month. That figure grows by roughly 10 million users a year.

Klarna’s push into crypto marks a sharp turn for the company. CEO Siemiatkowski was once a vocal skeptic of digital currencies. 

He said the market’s maturity and Klarna’s global reach now justify this entry. Klarna serves 114 million customers and processes $112 billion in annual gross merchandise volume.

The company plans to explore further crypto initiatives. A blog post on Thursday hinted at a new announcement “in a week or so,” suggesting more developments are coming soon.

This post Klarna Partners With Privy to Explore Use of Crypto Wallets first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Satsuma Technology Sells 579 Bitcoin Ahead of Planned LSE Uplisting

Satsuma Technology (LSE: SATS) sold nearly half its bitcoin treasury and announced major board changes as it prepares for a planned uplisting to the London Stock Exchange’s main market.

The U.K.-based company sold 579 BTC out of its 1,199 BTC holdings, raising about £40 million ($53 million) in net proceeds, according to a Thursday announcement. The move leaves Satsuma with 620 BTC and roughly £90 million in cash.

The sale is designed to ensure the company has enough liquidity to repay £78 million in convertible loan notes due on Dec. 31, 2025. 

Some noteholders have not yet committed to converting their debt into equity once Satsuma publishes its prospectus for the uplisting. The company said it wants to hold sufficient cash in case those conversions do not occur.

Alongside the treasury move, Satsuma proposed appointing Ranald McGregor-Smith as Chair and Clive Carver as Senior Independent Director. Both would join upon completion of the uplisting.

McGregor-Smith spent his career advising FTSE100 and FTSE250 firms and co-founded corporate broker Whitman Howard. He also sits on the board of Sabien Technology Group. Carver, a chartered accountant, has chaired and served as a non-executive director at several listed companies over the past decade and will also chair Satsuma’s Audit Committee.

Current Chair Matt Lodge will step down after the uplisting but remain on the board. Non-executive director Darcy Taylor resigned immediately as part of the restructuring.

CEO Henry K. Elder said the board changes bring stronger PLC governance at a key transition point. He also said the bitcoin sale positions the company for “stability and growth” as it advances its broader strategy.

Satsuma shares edged up to 1.05 pence following the announcement. The stock remains down nearly 30% over the past month.After the sale, Satsuma ranks as the 61st largest publicly traded bitcoin holder.

65% of Bitcoin treasuries in the red 

In November, roughly 65% of corporate Bitcoin treasuries were in unrealized losses after Bitcoin briefly fell below $90,000, per the Bitcoin Treasuries Corporate Adoption Report. 

The report, covering 100+ companies, shows large treasuries like Strategy and Strive dominated net purchases, while early signs of selling emerged, led by Sequans. 

Quarterly accumulation slowed but remains steady, with Q4 2025 on track for ~40,000 BTC added. Mining companies now hold 12% of corporate BTC. 

Public and private treasuries bought over 12,644 BTC in November, bringing total holdings past 4 million BTC. Global diversification and disciplined buying continue despite volatility.

This post Satsuma Technology Sells 579 Bitcoin Ahead of Planned LSE Uplisting first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

65% of Corporate Bitcoin Treasuries Are Underwater: Report

Corporate Bitcoin treasuries faced mark-to-market losses in November, according to an exclusive Corporate Adoption Report from Bitcoin Treasuries. 

The report, covering more than 100 companies, offers a systematic look at how last month’s price drop affected public company holdings.

Bitcoin briefly fell below $90,000 in late November. The decline pushed many 2025 buyers into the red. Of the 100 companies for which cost basis is measurable, about two-thirds now sit on unrealized losses at current prices, per the report.

Despite the volatility, large balance sheets continued to dominate net Bitcoin buying. Strategy, Strive, and a small cohort of high-conviction buyers accounted for most net additions. 

Strategy alone represented roughly 75% of net new buying after sales.

Public Bitcoin treasury equities remain weak versus BTC and broad indices. Still, a minority of companies delivered at least 10% gains over the past 6–12 months. 

Early signs of corporate Bitcoin selling also emerged. At least five companies reduced BTC exposure in November. Sequans led the group, selling roughly one-third of its holdings. While small in aggregate, these moves suggest some management teams are willing to crystallize losses or de-risk when volatility spikes.

Quarterly Bitcoin accumulation is slowing, but not collapsing. Q4 2025 is on track for roughly 40,000 BTC in net additions to public company balance sheets. This is below the last four quarters but broadly in line with Q3 2024, as companies normalize to a slower, more selective accumulation pace.

In November, public and private treasuries purchased, added, or disclosed over 12,644 BTC in November and the total BTC held across all tracked entities surpassed 4 million by month’s end. 

Bitcoin purchases

Big treasuries know for their bitcoin buying continue to dominate purchases. Strategy added 9,062 BTC across three transactions in November, per the report.

Its largest buy, 8,178 BTC, came on Nov. 17. Strategy ended the month with 649,870 BTC, worth about $59 billion. Currently, the company has 660,624 after some December purchases. 

Strive added 1,567 BTC at an average price of $103,315 per BTC in November. The purchase brought its month-end holdings to 7,525 BTC, or $684 million. The company funds its Bitcoin strategy primarily through perpetual preferred equity.

Mining companies remain significant players. Cango and Riot added 508 BTC and 37 BTC, respectively, from mining operations. American Bitcoin added 139 BTC through combined purchase and mining strategies. 

Per the report, mining companies now account for 12% of public company BTC holdings.

Bitcoin selling and rebalancing

Sales were limited but notable. As mentioned earlier, Sequans sold nearly one-third of its holdings, to reduce convertible debt. Hut 8 reduced holdings by 389 BTC. KindlyMD and Genius Group also trimmed exposure.

Some companies added small amounts even amid the downturn. DDC Enterprise Limited picked up 100 BTC during the pullback. 

Metaplanet continued “additional purchase” filings on the Tokyo exchange. ETF flows returned to net inflows after a month of redemptions.

The data suggests a barbell pattern: small distressed sellers versus programmatic buyers and disciplined treasuries. Investors see BTC increasingly used as collateral or for cash flow, rather than just as a speculative asset.

Global trends and future outlook

Corporate Bitcoin holdings are increasingly global. U.S. companies dominate the top 20, but Japan, China, Europe, and other regions are growing. 

Non-U.S. public company holdings rose 3,180 BTC from two months prior, now representing about 9% of all public company BTC. Analysts say this geographic diversification reduces regulatory risk.

Despite November’s volatility, corporate adoption of Bitcoin continues. Large treasuries are still buying aggressively. The quarterly pace of accumulation is slower than earlier in 2025, the report noted, but steady growth persists. 

Those interested in reading the full report can do so below:

This post 65% of Corporate Bitcoin Treasuries Are Underwater: Report first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

The US Congress is closer than ever to defining federal rules for digital assets, yet the question of whether stablecoins can provide yield has slowed the process more than agency turf battles or token classification.

Notably, the House has already advanced the Digital Asset Market Clarity Act, outlining a path for certain tokens to move from securities regulation to CFTC oversight.

At the same time, the US Senate is shaping a parallel package that divides responsibilities between the Agriculture and Banking Committees.

However, despite substantial areas of agreement, negotiators say the issue of stablecoin yield remains the sticking point.

This debate concerns whether payment stablecoins should be able to pass through some portion of short-term Treasury returns to users, either as explicit interest or as promotional rewards offered by affiliated firms.

Democratic lawmakers argue that yield-bearing structures could accelerate deposit outflows from community banks and raise funding costs. At the same time, Republicans contend that limiting yield would protect incumbent institutions at the expense of consumers.

So, what began as a technical rulemaking question has become a broader discussion about the composition of the US deposit base and the potential for digital dollars to compete with traditional bank accounts.

The $6.6 trillion outflow scenario

The conversation shifted in mid-August after the Bank Policy Institute (BPI) highlighted what it described as a gap in the GENIUS Act, the stablecoin law enacted earlier this year.

The statute prohibits issuers from paying interest but does not explicitly prevent exchanges or marketing affiliates from offering rewards linked to the issuer’s reserve assets.

According to BPI, this structure could allow stablecoin operators to deliver cash-equivalent returns without obtaining a banking charter.

To highlight the concern, the group cited government and central bank scenario analyses that estimate as much as $6.6 trillion in deposits could migrate into stablecoins under permissive yield designs.

Analysts familiar with the modeling stress that the figure reflects a stress case rather than a projection, and assumes high substitutability between traditional deposits and tokenized cash.

Even so, the number has shaped the debate. Senate aides say it has become a reference point in discussions over whether rewards programs constitute shadow deposit-taking and whether Congress must adopt anti-evasion language that covers affiliates, partners, and synthetic structures.

The concern is grounded in recent experience. Deposit betas have remained low at many US banks, with checking accounts often paying between 0.01% and 0.5% despite Treasury bill yields above 5% for much of the past year.

The gap reflects the economics of bank funding. Stablecoin operators that hold reserves in short-term government securities could, in theory, offer significantly higher returns while providing near-instant liquidity.

Considering this, policymakers worry that this combination could draw funds away from lenders that support local credit markets.

A narrow legal question

The yield question turns on how Congress defines “interest,” “issuer,” and “affiliate.”

Under the GENIUS Act, issuers must maintain reserves and meet custody and disclosure standards, but cannot pay interest on circulating tokens.

Legal analysts note that an exchange or related entity offering a rewards program could create a structure in which users receive value that is economically similar to interest while remaining outside the statutory definition.

However, banking trade groups have urged lawmakers to clarify that any return flowing from reserve assets, whether distributed directly or through a separate entity, should fall under the interest prohibition.

Meanwhile, crypto industry stakeholders argue that such restrictions would place stablecoins at a competitive disadvantage compared with fintechs, which already offer rewards programs that approximate yield.

They also note that other jurisdictions, including the United Kingdom and the European Union, are creating pathways for tokenized cash instruments with varying approaches to remuneration.

For them, the policy question is how to support digital-dollar innovation while preserving prudential boundaries, not how to eliminate yield from the ecosystem entirely.

However, Democrats counter that the pace of on-chain transfers creates a different dynamic from traditional bank competition.

Stablecoin balances can move quickly across platforms without settlement delays, and rewards structures tied to Treasury income could accelerate flows during market stress. They cite research indicating that deposit displacement from community banks would have the greatest impact on rural lending, small businesses, and agricultural borrowers.

According to a recent Data for Progress poll, 65% of voters believe widespread stablecoin use could hurt local economies, a view reflected across party lines.

Other issues stalling the crypto bill

Meanwhile, stablecoin yield is not the only unresolved issue.

Democrats have proposed adding ethics provisions that restrict officials and their families from issuing or profiting from digital assets while in office, as well as requirements to maintain full commissioner slates at the SEC and CFTC before delegating new oversight authority.

They are also seeking clearer tools to address illicit finance for platforms that facilitate access by US persons, and a definition of decentralization that prevents entities from avoiding compliance obligations by labeling themselves as protocols.

These additions have narrowed the legislative runway. Senate staff say a markup before the recess is now unlikely, raising the possibility that final negotiations will extend into 2026.

In that case, the GENIUS Act’s ambiguity regarding rewards would remain in place, and the SEC and CFTC would continue shaping the digital-asset market through enforcement actions and rulemaking.

The post The $6.6 trillion nightmare scenario that has Senate Democrats trying to kill stablecoin yield immediately appeared first on CryptoSlate.

Belarus expanded platform blocking in December, tightening access to exchanges and reinforcing a High-Tech Park perimeter for residents.

The move fits a wider access playbook across EMEA and APAC that now uses telecom blocklists, app-store removals, and KYC gates to shape who reaches the same BTC and USDT order books.

The practical result is a de facto return of capital controls in a digital wrapper, where passports, IP ranges, and local licenses set the trading venue and the price to exit.

Belarus’s telecom registry, BelGIE, continues to add domains to its restricted resources list used for ISP-level blocking.

Local reports in December flagged fresh blocks on foreign exchange front-ends, on top of a legal arc that confines dealing with persons in Belarus to High-Tech Park operators and restricts P2P activity.

Authorities have targeted unregistered exchangers, while the EU’s latest sanctions bar Belarusians from holding wallets at EU providers as of February 24, 2025.

According to Onlíner’s coverage of those measures, the wallet prohibition removed a common custody escape valve, leaving residents to route through approved HTP operators or migrate to gray rails.

The enforcement tools are straightforward and fast.

DNS and IP blocks route traffic away at the carrier level, app stores remove mobile access, and exchanges raise KYC walls that hard-stop new and existing users by residency.

Russia’s December actions, which added new blocks such as Snapchat and restricted FaceTime, showed how quickly content filters extend across consumer applications, according to Reuters.

The same levers, applied to exchange domains, API gateways, and wallet UIs, produce immediate disconnections for retail and small institutions and force flow into either licensed local venues or unregulated bridges.

The pattern is not confined to Belarus and Russia

India escalated its second wave against offshore platforms on October 1, 2025, when FIU-IND issued notices to 25 VASPs and ordered URL and app blocks for non-registration under AML rules, according to The Economic Times.

The pathway back, register, then pay penalties, then operate under supervision, is already visible.

Binance registered with FIU earlier in 2024 and later paid a ₹188.2 crore penalty, about $2.25 million, according to Reuters.

Thailand made its own perimeter formal on June 28, 2025, coordinating with law enforcement and the Digital Economy ministry to block Bybit, OKX, CoinEx, XT, and 1000X for operating without a local license, according to the Thai SEC.

Indonesia moved supervision from Bappebti to the Financial Services Authority and Bank Indonesia on January 10, 2025, according to OJK’s joint press note, which lays the administrative groundwork for license-gated access and tighter on- and off-ramps.

The market structure impact tracks with these tools

Liquidity concentrates on compliant venues when access narrows, and aggregate depth becomes venue dependent rather than asset dependent.

Kaiko’s 2025 lens shows BTC depth held up on well-regulated exchanges while altcoin market depth fell earlier in the year.

When jurisdictions force exits through URL and app removals, markets typically see short-term dislocations, wider spreads and higher slippage, and premiums on local fiat and stablecoin pairs on surviving ramps until flow re-routes.

Philippines actions that cut access to Binance created similar patterns on withdrawal risk and access to fiat rails.

Belarus is small by global volume, so the global BTC book will not notice a measurable dent from local users alone, yet the local perimeter matters.

A simple scenario can frame the stakes for market makers and retail in access-constrained markets.

Let local users account for share s of taker volume on a venue V. A block reduces local taker flow by α over T equal to two to six weeks, until migration completes, and market depth D responds with elasticity ε around 0.4–0.7 for mid caps.

The near-term depth change is ΔDepth ≈ −ε·α·s.

If s is below 0.5% on majors for Belarus, global books barely move. Local books, including BYN rails and HTP venues, can thin in a way that widens fees and bid-ask spreads, since market makers price the added operational and compliance risk.

For altcoins, the elasticity bite is stronger because maker inventories are smaller and hedging routes through fewer, more fragmented books.

Regional flow data reinforces that access controls and usage can coexist

Chainalysis ranks Europe as the largest crypto region by value received in 2025, with Russia leading EMEA inflows, which lines up with a world where headline blocks and practical usage run in parallel.

APAC shows the fastest adoption trend in the latest index, with India at number one and the United States at number two, according to Chainalysis.

That means Indian URL blocks reach beyond domestic users, because large offshore venues serve global counterparties and liquidity providers that arbitrage across regions.

When those pipes close to a major user base, even temporarily, bridge depth, routing, and hedging costs change for desks outside India.

Three enforcement models are now visible across EMEA and APAC.

There is the full geo-block that routes traffic away at the carrier layer and through app stores, Belarus and Thailand being clear examples.

There is license gating with onshore silos, which Malaysia and Türkiye have used, according to the Securities Commission Malaysia’s digital assets framework, creating market share for domestic regulated exchanges without a total ban.

Then there is the register-to-reenter path used in India, where notices, blocks, registration, and fines strand non-compliant liquidity while pulling volume back to compliant pools over time.

Each model produces a different time profile for spreads and depth, yet they all fragment the global view of the book.

Forward risks in 2026 cluster around updates to the same toolkits

Belarus can add domains to BelGIE and increase pressure on P2P operators, with ministry circulars as triggers.

India can issue more FIU blocks if October notices do not convert to registrations and fines, with MeitY orders pushing enforcement through app stores and ISPs.

Thailand can extend blocks to wallet front-ends and domains that try to route around the existing list, with SEC bulletins marking the cadence.

Pakistan’s policy stance is drifting toward a regulated framework that could introduce licensing with access limits for foreign platforms, while UAE’s VARA has shown a preference for compliance-driven geo-fencing against unlicensed solicitations, according to market coverage, which channels flow rather than switching it off.

Order routing behavior will keep shifting as venues harden KYC perimeters and telecom regulators add blocks.

API and IP geofences push users to VPNs, OTC desks and P2P, and custodial bridges, which reduces transparent price discovery and impairs risk models that depend on consolidated order books.

OTC share rises in places where exchange access narrows, and custody risk migrates to less supervised providers, especially where wallet access through EU-domiciled services is closed to specific nationalities.

The Belarus two-wall system, HTP perimeter plus an EU wallet ban by residency, raises the chance that users adopt gray custodianship that lacks robust client asset protections.

For traders and treasurers, the durable playbook is to map venue access by jurisdiction, segment hedging across licensed pools with stable rails, and expect repeated basis shocks on regional pairs after enforcement steps.

Kaiko’s exchange ranking work can anchor venue selection and depth snapshots, while Chainalysis regional flow data can frame how fast volumes re-route after ISP and app changes.

Altcoin pairs need explicit buffers on slippage and working capital, since those books compress first when local takers vanish.

For teams with regional customers, serve inventories from onshore venues where possible and keep settlement rails redundant to avoid block-order downtime.

The access wall is moving, and the price impact is already visible at the edges

Compliance is turning into a market share strategy in APAC, registration and fines buy supervised resumption in India, and license gates carve liquidity silos in EMEA without switching off crypto activity.

Belarus’s December blocks show how fast a country can redraw the perimeter for who sees which book and at what cost.

Europe’s share of value received holds even as controls tighten in parts of EMEA, while APAC’s adoption profile makes any Indian perimeter step feed back into global liquidity management.

Depth now clusters on a smaller set of compliant venues, a feature that will shape hedging and inventory routing as jurisdictions toggle between geo-blocks, license gates, and supervised return paths.

“The return of capital controls is stealth, API level, and instantaneous,” a framing borne out by the December wave of general platform blocks in Russia and the exchange blocks rolled out across EMEA and APAC this year.

Compliance is becoming a market share strategy in APAC, with India’s register, pay, and resume model already visible in outcomes for major platforms.

Belarus’s dual wall of HTP perimeter and EU wallet access limits means the cost of custody and exit has changed for its residents, and the change shows up in the market where liquidity sits.

The post Bitcoin liquidity is drying up in specific regions as a new “pay-to-exit” model quietly takes over appeared first on CryptoSlate.

Do Kwon faces sentencing in U.S. federal court on Dec. 11, 2025. Prosecutors sought a 12-year term and the defense asked for no more than five, with Judge Paul A. Engelmayer presiding and South Korea charges still pending.

The proceeding follows a June 2024 final judgment in the SEC’s civil case that imposed about $4.47 billion in disgorgement and penalties on Terraform and Kwon and imposed a lifetime U.S. crypto and securities ban.

The criminal allocution matters less for courtroom theater than for how exchanges, insurers, and filings respond. If the rationale centers on misstatements about algorithmic stability and undisclosed support for the peg, the working presumption for listing and coverage committees becomes that mechanism claims, and any related market-manipulation risk, are chargeable like traditional securities fraud.

The insurance market is the first filter where behavior shifts

Directors and officers underwriting hardened in the early 2020s and recent softening has been flagged as unsustainable as claim severity returns.

Carriers and brokers have told clients that clearer regulatory expectations make risk selection easier, with better governed crypto firms obtaining capacity and speculative models facing exclusions and higher retentions, per Woodruff Sawyer.

A sentence near the government’s request, paired with a judicial record that details deception around peg-recovery mechanics, sets up the 2026 renewal season for explicit algorithmic-stability exclusions in D&O and cyber endorsements and larger self-insured retentions for issuers that rely on endogenous pegs or cross-venue market-maker support.

A shorter outcome that frames the conduct as overconfidence would still pressure pricing but is more likely to produce bespoke warranties about mechanism attestations than broad categorical carve-outs.

Exchanges will translate that risk sorting into listing rules

The European Union’s MiCA regime, with stablecoin provisions operational across 2025, forced delistings and limits for non-authorized stablecoins in the EEA and pushed venues toward licensed e-money token and asset-referenced token issuers with whitepapers, reserve controls, and safeguarding, as reflected in EU venue actions.

MiCA has also created a migration toward euro-denominated liquidity and formal reserve disclosure.

In Hong Kong, policymakers have opened the aperture for depth, including order-book sharing and staking under strict criteria, signaling a compete-on-compliance approach where disclosure of on-chain mechanics and off-chain dependencies becomes part of gatekeeping.

In the United States, SEC CorpFin staff in 2025 pressed for disclosure that covers mechanism-level risks for crypto offerings and ETPs, including valuation, liquidity, technology, legal exposure, insurance, and governance, per Debevoise.

A sentencing rationale that emphasizes misrepresentations around stability will push reviewers to ask for more specificity on peg mechanics, the role of external liquidity providers, and the conditions under which a mechanism can fail.

The practical response for listing committees is to make mechanism truth tests and kill-switch documentation routine. Committees can require attestations that explain how a peg is maintained, spell out any dependency on centralized market makers or credit lines, and model stress behavior when liquidity disappears.

They can also document halt and delist triggers tied to oracle failures, deviation bands, or gaps in reserve transparency, and they can adopt MiCA-style whitepaper conventions even for non-EU venues to ease cross-passporting later, using ESMA’s machine-readable taxonomy as the format reference.

On the issuer side, whitepapers and public filings that cover material contracts and controls will meet this moment better than narratives.

That means naming market-making agreements, disclosing backstops, describing the board’s oversight of liquidity defense, and aligning risk factors with the SEC’s 2025 push for specific, non-boilerplate mechanism risks.

ESMA’s MiCA whitepaper reporting manual points to inline XBRL and validation rules, which invites programmatic checks by investors and reporters, and will make silent edits or vague mechanism updates harder to slip through.

Insurers will formalize that same diligence in underwriting questions.

Expect requests for board minutes tied to peg defense playbooks and incident response, proof-of-reserve assurance scope that clarifies frequency and what is, and is not, attested, and event models that walk through cross-venue depegs and black-swan liquidity gaps.

Claims-made timing and restitution subrogation will also get attention if regulators impose fines or forfeiture and coordinate recoveries through bankruptcy estates, as the SEC case did.

The net effect is that capacity becomes a gatekeeper: the issuers that can pass D&O questionnaires become the only listable issuers on risk-averse venues in 2026.

Liquidity will follow the rule sets.

In the EU, if USDT constraints persist while licensed EMT and ART pairs expand, EU spot volumes will continue to mix toward regulated pairs and euro-stablecoins, as seen in exchange actions like Kraken’s.

A study cited in December 2025 found euro-stablecoin market cap roughly doubled year over year after MiCA, reflecting regulatory-led liquidity migration.

Retail access norms are converging. Hong Kong’s framework for retail participation through licensed platforms, with suitability tests and knowledge checks and the potential for staking and derivatives under guardrails, provides a template regulators can export across APAC in 2026, per the Securities and Futures Commission.

In the United States, the disclosure lens is shifting from general risk to mechanism-specific risk, which affects how broker-dealers and advisors think about suitability and how exchanges construct product-level disclosures on listing pages. The cultural shift is away from code as a shield and toward mechanism claims as representations that can be audited, insured, and, if false, prosecuted.

The legal narrative that emerges from this sentencing joins the SEC’s civil order to create a two-track deterrent. The civil side can end a business model through disgorgement and injunctions, as the SEC’s 2024 judgment and lifetime bans demonstrate.

The criminal side can remove liberty and color future intent.

That combination changes who acts early. Listing committees will shut down edge-case designs that cannot survive third-party verification of stability.

Underwriters will either price the risk with exclusions and high retentions or decline, and that decision will precede any regulator’s order. The reputational cost for self-healing tokenomics that lack independent validation rises because the story is no longer experimental code that failed, it is misstatement about market support framed as classic manipulation in a familiar legal arena, according to Reuters.

The next phase has a few measurable tripwires.

The language the court uses on Dec. 11, 2025, especially around algorithmic claims, undisclosed market-maker support, and victim impact, will be quoted in underwriting notes and listing memos.

Renewal season in the first half of 2026 will reveal how exclusion wording and retention ladders change for issuers with peg-like mechanics. ESMA updates to the MiCA taxonomy and validation checks in 2025 and 2026 will determine how machine-readable whitepapers evolve, which will shape how investors and media monitor edits to mechanism language.

In parallel, full implementation of GENIUS Act will set whether U.S. disclosures align with MiCA by mandate or by market practice.

To frame the scale of movement that committees and carriers are modeling, the underwriting elasticity around sentencing outcomes can be reduced to two ranges.

A base case near eight to twelve years maps to rate increases of about 10–20% at 2026 renewal for unprofitable crypto issuers, with retentions up 25–50% where peg-like mechanics exist, and more frequent algorithmic-risk exclusions, grounded in a view of an unsustainably soft phase and broker commentary about differentiation.

A lenient case at five years or less implies single-digit premium increases and a preference for warranties and attestations over blanket exclusions. For liquidity, the European mix continues to bend toward EMT and ART pairs if non-authorized stablecoins remain constrained into the first half of 2026, and euro-stablecoin share could take another step up if MiCA’s enforcement stays consistent.

One caution remains on custody. Time served in Montenegro or South Korea proceedings could affect the effective term and transfer sequencing, with coverage noting the judge’s interest in ensuring any sentence is actually served.

Those caveats do not change the next moves for the private gatekeepers. Listings will ask issuers to show exactly how stability works and when it fails, insurers will ask boards to prove they have modeled those failures, and disclosures will force mechanism-level specificity that turns marketing into representations that can be tested. That is the coda the market will take from this case.

The post How Do Kwon’s jail sentence forces a brutal “truth test” that many algorithmic tokens will instantly fail appeared first on CryptoSlate.

More Bitcoin now sits outside exchanges, and courts cannot move those coins without keys.

That custody shift is colliding with family law. Exchange balances hover near multi-year lows at roughly 14–15% of circulating supply, about 2.7–2.8 million BTC.

The rest sits with institutions in vaulted custody or in personal wallets where a 12–24 word seed phrase confers control. In divorce, the legal system can divide what it can prove exists or compel to appear, yet self-custody alters those mechanics.

Courts can order disclosure, and refusal risks contempt or adverse financial awards, but a judge cannot broadcast a Bitcoin transaction without the private keys.

How courts are adapting to crypto’s self-custody reality

Law is moving to recognize what the technology already made possible. In England and Wales, the Property (Digital Assets etc) Act 2025 received Royal Assent, codifying that certain digital assets can attract property rights.

The Law Commission’s “data objects” concept underpins that shift. Recognition matters for injunctions, tracing, and title, yet it does not conjure keys.

UK courts have already granted proprietary injunctions over crypto in fraud contexts, as Norton Rose Fulbright documents, and that toolkit is now available in more routine disputes where assets are found.

Family lawyers in the UK and US, including firms like Kabir Family Law, describe playbooks that start with bank and tax records, move to exchange subpoenas, fold in on-chain heuristics and device logs, and end with lifestyle evidence when the ledger is silent.

Ownership is no longer fringe. The UK Financial Conduct Authority reported about 12% of UK adults held crypto as of August 2024, roughly 7 million people, according to the FCA.

Trade press and private surveys placed adoption higher in 2025, which is directionally useful but not a hard anchor. Even if many holdings are small, the marginal spouse most motivated to conceal will prefer self-custody that evades intermediaries.

For courts, detectability and seizability have split. The analytics stack now rented by subpoenas is more robust when funds touch a KYC platform.

Hardening perimeters and the regulatory outlook

Chainalysis’ mid-year 2025 readout put theft over $2.1 billion and tracked a pivot toward stablecoins in illicit finance, demonstrating how chain data can map flows and counterparties once an exchange or broker is in the path.

That capacity raises detection probability, yet it does not unlock a cold wallet stored offline.

Regulators are tightening the perimeter that can be tightened. In the European Union, MiCA and the Travel Rule staged in through 2024 and January 2025 standardize originator and beneficiary data when transfers pass through crypto-asset service providers.

The United Kingdom has advanced plans to bring exchanges and dealers into formal authorization, adding a supervisory lens to the platforms that most often interact with consumers.

In the United States, broker reporting for DeFi was nullified in April 2025 and broader IRS crypto reporting does not begin until 2026, leaving a patchwork in the near term. These measures harden ramps, not keys.

Two custody modes explain the enforcement gap. Custodial accounts put an intermediary between a person and their coins, so courts can freeze and garnish with platform cooperation.

Self-custody flips that model

A seed phrase deterministically generates keys that unlock transactions, and whoever holds that phrase holds spend power.

Orders to disclose remain binding, and non-compliance can be punished, yet a refusal does not yield immediate recovery. That is the practical difference family barristers have to underwrite in settlement advice today.

The market structure makes the legal math more probabilistic. Exchange balances at multi-year lows point to more wealth that is key-controlled, not platform-controlled.

ETF growth has concentrated another slice in professional custody with multi-party controls. Price targets may rise or fall, but the custody migration is independent of directional calls.

If the off-exchange share of Bitcoin rises a further 2–4 percentage points by end-2026, which would be consistent with recent drawdowns, contested cases involving crypto-active spouses will see a higher incidence of non-compliance and negotiated discounts that price the risk that coins do not return.

Practitioners are already adapting

Typical discovery now runs through bank statements, tax returns for capital-gains traces, exchange subpoenas for KYC files, IP and device logs, and deposit or withdrawal histories, then into on-chain cluster analysis, as described by NJCPA and other practitioner sources.

Where smoke appears but keys do not, judges can draw adverse inferences and reweight other assets, or award maintenance and fees to offset concealment. That mirrors offshore cash dynamics, with the twist that Bitcoin compresses offshore-like control into a memorized phrase that leaves fewer paper trails.

Joint-custody solutions are entering family toolkits. Multisignature wallets, for example 2-of-3 setups, allow shared control by two spouses and a neutral third party.

Commercial providers like Casa, Unchained, and Nunchuk market inheritance and recovery flows, which give solicitors a template for prenups and postnups that route marital acquisitions into a jointly controlled wallet with an executor or law firm as the neutral signer.

The logic is simple: make “ours” a policy embedded in the signing threshold, then have the neutral party act only to execute lawful orders, facilitate agreed distributions, or rotate keys if one is compromised. A small adoption share would still cover hundreds of thousands of UK and US households by 2027, based on the FCA baseline.

Courts and policymakers are also leaning on intermediaries for sanctions enforcement. OFAC has sanctioned exchanges and mixers that enabled illicit flows, the U.S. Treasury noted, and those actions ripple into exchange compliance teams that answer subpoenas faster and with richer metadata.

As that perimeter hardens, expect more evidence sourced from platforms, shorter timelines from subpoena to production, and stricter penalties for non-disclosure.

None of that produces keys for purely self-custodied assets, which is why adverse awards, fee shifting, and contempt become the primary deterrents rather than guaranteed division by transfer.

Some pushbacks deserve a clear response

“Most people keep coins on exchanges” is less accurate with balances below 15% on platforms and with institutional custody growth. “Forensics will make hiding rare” is true only when funds touch a broker or CASP.

“Offshore accounts already let people cheat” is an incomplete analogy because self-custody removes the bank. The 2025 UK Act shows law treating digital assets as property, yet practical control rides on cryptography. Courts can punish non-disclosure, they cannot sign a Bitcoin transaction.

What happens next splits across four paths that practitioners and clients should price. First, keys beat courts, in the sense that a higher off-exchange share raises the rate at which non-cooperation turns into contempt or discounts rather than immediate recovery.

Second, platforms extend the perimeter, as EU and UK rules, and US tax reporting in 2026, raise visibility whenever coins touch a broker. Third, joint-custody norms emerge, with prenups and wills adopting multisig and escrowed key shards so that families can share control and assure inheritance without putting seed phrases in the public record.

Fourth, the forensics arms race continues, improving detection at the ramps while leaving air-gapped storage opaque unless someone cooperates.

The policy lens remains cross-border. Capital controls and sanctions gain leverage through intermediaries, and MiCA’s and the Travel Rule’s data standards create a more uniform paper trail inside the regulated sector.

None of those measures reduces a person’s ability to move value through self-custody across borders. That is why courts will continue to rely on remedies that change incentives, not transactions, and why family solicitors will continue to ask for logs, receipts, and OSINT when the ledger is quiet.

If there is a single line that captures the moment, it is that regulation hardens ramps, not keys.

For divorce courts, that means settlements that assume coins can be found where they touch a platform, and remedies that assume they cannot be moved when they do not.

The keys will decide what can be split.

The post Bitcoin is now the ultimate “divorce loophole” because courts physically cannot seize the keys appeared first on CryptoSlate.

The most unusual trend in the crypto market this month is not Bitcoin’s price action, but the mechanics of XRP exchange-traded fund (ETF) flows.

For 18 consecutive trading sessions, the four products have absorbed steady demand, accumulating roughly $954 million in inflows without a single outflow since launch.

The streak stands out amid the volatile crypto market, where Bitcoin and Ethereum ETFs have seen significant redemptions.

It also signals the emergence of a buyer base that behaves very differently from the traders who typically govern XRP’s liquidity cycles.

The off-chain holder

Earlier this week, Ripple CEO Brad Garlinghouse described this new cohort of investors as “off-chain crypto holders,” a label that captures investors who want volatility exposure without the operational demands of exchanges or self-custody.

These are users who buy XRP the same way they purchase exposure to the S&P 500. This means that this cohort purchases the funds through regulated wrappers, custodial intermediaries, and tax-advantaged accounts.

This group cannot be attributed to any single brokerage’s policy change, and certainly not to recent decisions by firms like Vanguard, whose adjustments are too recent to have influenced the multi-week flow streak.

Instead, the shift reflects a broader, slower development: digital assets are becoming more accessible inside the conventional brokerage stack. As more platforms treat crypto ETFs as standard portfolio ingredients, capital is arriving from investors with lower sensitivity to daily price movements.

That helps explain the XRP ETF complex’s “perfect game” of inflows. Traditional ETF buyers, who are allocators inside 401(k) programs, advisers managing multi-asset portfolios, and individual investors using automated model strategies, tend to contribute steadily and sell sparingly.

Once XRP is sitting in a retirement account or as part of a monthly contribution plan, short-term news flow typically does not trigger redemptions.

So, for the first time in XRP’s history, a large share of demand is coming from buyers who have little interest in timing volatility.

Two markets, two behaviors

The steady inflows, however, disguise a deeper tension. If nearly $1 billion has entered XRP ETFs in less than a month, why is the asset trading around $2.09, roughly 20% down over the last 30 days?

In a vacuum, these flows might have forced the price sharply higher. However, the fact that XRP remains range-bound suggests ETF demand is being met by sellers elsewhere.

Derivatives markets help clarify the picture. Binance perpetual futures have shown persistent sell-side aggression, with CryptoQuant data putting the Taker Sell Ratio at 0.53, the highest level since mid-November.

That reading indicates more market-sell orders than buys, signaling that traders are hitting bids rather than waiting for better levels.

At the same time, Glassnode data shows futures open interest has collapsed from 1.7 billion XRP in early October to about 0.7 billion XRP, a 59% drawdown.

Notably, the token’s funding rates have also compressed sharply. Its seven-day moving average has fallen from roughly 0.01% to 0.001%, marking a clear cooling of XRP’s speculative appetite.

Together, these data points describe a market in retreat on the speculative side. The October deleveraging flushed out a large share of leveraged longs, and the subdued funding environment indicates little urgency to rebuild aggressive upside positions.

Against that backdrop, the ETF bid is functioning less as a catalyst and more as a buffer by absorbing supply that might otherwise have driven the price materially lower.

The stability around $2 suggests the two markets are offsetting one another: passive inflows countering active, exchange-driven outflows.

This dual structure is new for XRP. Historically, its price was almost entirely a function of crypto-native behavior, such as exchange flows, derivatives positioning, and sentiment cycles.

However, the arrival of ETF buyers has created a second center of gravity, one governed by slower-moving mandates rather than speculative timing.

A decoupled XRP Ledger

While Wall Street capital circulates through ETF shares, the XRP Ledger (XRPL) is undergoing its own adjustments.

CryptoSlate previously reported that XRPL’s network velocity, the rate at which tokens move between wallets, hit a yearly high of 0.0324 on Dec. 2, suggesting heightened transactional turnover.

Yet Glassnode data shows that total fees paid on the network have fallen by about 89% since February, from 5,900 XRP per day to roughly 650 XRP.

This combination of rising velocity and falling fees is typical of an environment in which liquidity providers, automated market makers, or exchange-linked actors are efficiently repositioning assets rather than conducting high-value settlement.

It reflects the widening gap between financial demand, as expressed through ETFs, and operational demand, as expressed on-chain. The ledger remains active, but the price discovery mechanism is increasingly anchored in off-chain, regulated markets rather than native utility.

Notably, the ETF’s expanding lineup of issuers reinforces that trend. Canary Capital, Bitwise, Grayscale, Franklin Templeton, and, most recently, 21Shares have turned XRP into one of the most competitive ETF verticals of the year.

Each new listing deepens the asset’s presence inside traditional brokerage workflows, increasing the share of demand coming from investors who may never interact with the underlying network.

What do we learn from this?

What is emerging is a dual-track market.

On one track is the passive allocator, which is steady, rules-based, and primarily insensitive to volatility. On the other hand is the crypto-native trader who is responsive to funding dynamics, leverage conditions, and tactical flows.

XRP’s unprecedented string of ETF inflows, paired with a sharp contraction in derivative positioning, shows the two groups moving in opposite directions.

For now, the inflows are strong enough to counter the unwind in speculative interest. However, the question is how long that balance can hold. Should ETF flows moderate or derivatives selling accelerate, the equilibrium now anchoring the asset could fracture.

Until then, XRP offers a rare case study of what happens when Main Street retirement accounts and crypto-native volatility collide.

The post XRP ETFs absorbed nearly $1 billion in 18 days, yet the price is flashing a major warning signal appeared first on CryptoSlate.

The Federal Reserve just announced its third rate cut of the year, lowering the benchmark range to 3.5%–3.75%. While stocks reacted positively, edging near record highs, $Bitcoin plunged below $90,000 with a wave of liquidations hitting the market.

The mixed reaction highlights a deeper uncertainty: Is the Fed’s shift enough to support a sustained crypto rebound—or will sticky inflation and slow job growth keep markets volatile?

What the Fed Announced, And Why It Matters for Crypto

The Fed delivered:

• A 25 bps cut (now 3.5%–3.75%)
• Third rate cut this year
• Unemployment rising
• Job gains collapsing to just 20,000 (adjusted)
• Sticky goods inflation driven by tariffs
• Only one more cut expected in 2026
• $40B Treasury bill purchases starting Dec 12 to support liquidity

Why this matters for Bitcoin

Rate cuts normally support risk assets. But this time, the messaging is mixed:

• Inflation remains “sticky”, especially goods inflation
• The labour market is slowing sharply
• Liquidity injections are small compared to past easing cycles
• Powell’s tone was cautious, not bullish

That’s why Bitcoin dumped below $90,000, triggering heavy long liquidations.

This is not a rejection of crypto—it's a recalibration of expectations. Markets hoped for a more aggressive easing cycle, but Powell confirmed this will be a slow, defensive, controlled pivot, not a 2020-style liquidity flood.

How the Rate Cut Impacts Crypto Short-Term

1. Bitcoin volatility spikes

$BTC fell to $90,210 (-2.63% weekly), confirming the market expected more from the Fed.
Rate cuts reduce borrowing costs, but sticky inflation limits the Fed’s ability to ease aggressively.

Result:
➡️ Short-term downside risk
➡️ High volatility
➡️ More liquidations likely around 88K–90K levels

2. Ethereum reacts worse than Bitcoin

$ETH is down 4.03% in 24h, sitting near $3,192.

Why?
ETH is more sensitive to macro tightening because:

• It relies strongly on liquidity inflows
• Altcoins historically underperform BTC in macro uncertainty
• Investors rotate to BTC during risk-off phases

Unless liquidity improves, ETH may continue lagging.

3. XRP, SOL, ADA: Altcoins take a deeper hit

Other altcoins show noticeable drops:

• $XRP: $2.00 (-5.86% weekly)
• $Solana: $131.15 (-8.00% weekly)
• $Cardano: $0.4165 (-6.59% weekly)

Altcoins always absorb the biggest impact when liquidity is uncertain.

Combine macro uncertainty + elevated funding rates + aggressive leverage → capitulation pockets.

Gemini just unlocked a major regulatory milestone that could reshape how Americans trade future events and digital asset derivatives. With the Commodity Futures Trading Commission granting Gemini a Designated Contract Market license, the exchange is now cleared to launch its own prediction market and potentially expand into futures, options, and perpetual swaps. What this really means is simple: Gemini is stepping onto a bigger stage and signaling that prediction markets might be the next explosive frontier in finance.

What Exactly Has Gemini Been Approved To Do?

The CFTC’s approval gives Gemini the legal green light to operate a regulated futures marketplace under U.S. law. The platform, called Gemini Titan, will start with classic binary event contracts built around straightforward yes-or-no outcomes. Think election results, market events, and economic indicators.

Over time, the license allows Gemini to widen its scope into full-fledged derivatives offerings: crypto futures, options, and perps. That puts Gemini in the same regulatory class as long-standing futures exchanges, but with a modern twist aimed at blockchain-native markets.

A Long Application Finally Pays Off

This wasn’t an overnight win. Gemini first filed for a DCM license back in March 2020, years before prediction markets became a mainstream talking point. At that time, the purpose wasn’t explicit, and few could have predicted how quickly the sector would heat up.

Now, after a long and complex regulatory journey, the timing could not be better. Prediction platforms like Kalshi and Polymarket have been posting record volumes, driven by last year’s election cycle and the surge of political speculation following President Donald Trump’s return to office. October and November were the biggest months in their history, and this momentum is still accelerating.

Why the CFTC’s Stance Has Shifted

For years, the CFTC treated prediction markets with caution. Polymarket was punished for operating unregistered markets, and Kalshi faced resistance when attempting to list political contracts. That changed once Kalshi won a legal battle that forced regulators to reconsider their position.

Under Acting Chair Caroline Pham, the agency has moved toward a more business-friendly, innovation-focused approach. Cameron Winklevoss made this point clearly, praising Pham for embracing a vision where prediction markets can grow to the size of traditional financial markets.

The shift isn’t just philosophical. Trump’s administration has shown enthusiastic support for prediction markets, even planning a Truth Social-branded marketplace in partnership with Crypto.com. The alignment between political appetite and regulatory openness is setting the tone for rapid expansion across the industry.

How Gemini Fits Into the Broader Market Landscape

Gemini isn’t alone. Crypto.com is powering multiple branded prediction platforms, while Coinbase appears to be quietly experimenting with prediction-market code inside its wallet. Even retail giant Robinhood plays a major role in the ecosystem, at times accounting for more than half of Kalshi’s volume.

But Gemini’s position is unique for two reasons. First, it enters the space with full CFTC approval from day one, giving it a regulatory advantage. Second, the exchange already has a track record of compliance-heavy operations, which could attract institutional users who prefer regulated venues.

The backstory also includes some friction. The Winklevoss twins publicly expressed concerns about Trump’s earlier nominee for CFTC chair, Brian Quintenz, citing conflicts linked to his roles at a16z and Kalshi. That tension highlights how politically charged the prediction market sector has become.

What This Means for the Future

If Gemini executes this well, Titan could become a major gateway for traders looking to speculate on everything from politics to economics to crypto volatility. A future where binary events sit alongside Bitcoin futures and ETH perps on the same platform suddenly feels possible.

Prediction markets are no longer a fringe experiment. They are moving into regulated territory, backed by major exchanges, and gaining political support at the highest levels. Gemini’s approval might be the clearest signal yet that these markets are ready for prime time.

Bitcoin price has been hovering around the 90,000 USD mark after the Federal Reserve announced its third consecutive rate cut, lowering the key interest rate to the 3.5–3.75% range. While the move was intended to boost hiring amid a slowing job market, the policy split inside the Fed hints at uncertainty that’s spilling into financial markets—including crypto. Traders are now trying to decide whether this cut sets up a new bullish cycle for Bitcoin or if it signals deeper economic stagnation ahead.

Bitcoin Price Prediction: Is Bitcoin Losing Momentum?

The daily chart shows BTC price trading near 90,944 USD, with the Bollinger Bands starting to tighten—an early sign of a potential volatility breakout. The candles are hovering just below the midline (SMA 20), and price action has repeatedly failed to close above 94,000 USD. This suggests the short-term trend remains mildly bearish unless bulls reclaim the upper band near 94,100 USD.

The 20-day simple moving average is acting as dynamic resistance, and the recent sequence of small-bodied candles shows indecision. Volume has also thinned out, hinting that traders are waiting for macro clarity before committing to new positions.

Fed’s Rate Cut: A Double-Edged Sword for Bitcoin Price Prediction

Typically, lower interest rates weaken the dollar and push investors toward risk assets like Bitcoin price. However, this particular rate cut comes with a warning sign: the Fed is divided, and some policymakers fear “stagflation”—slow growth combined with high inflation. That environment often benefits hard assets in the long term, but in the short run, it can trigger caution in leveraged markets.

If markets interpret this cut as the last one in the cycle, it may dampen speculative appetite and slow down crypto inflows. Bitcoin’s muted reaction so far shows investors are not convinced the easing will translate into sustained liquidity growth.

What the Chart Signals Next

The Bollinger Band base lies around 85,400 USD, forming a critical support zone. A break below that could open the door to 82,000 USD and potentially 78,000 USD if bearish momentum intensifies. On the upside, a daily close above 94,200 USD would mark a bullish breakout from the current compression range, setting up targets near 98,000–100,000 USD.

Momentum indicators suggest mild recovery potential but no strong reversal yet. The structure resembles an accumulation zone—BTC price is building a floor, but the conviction is missing. Historically, similar setups have preceded both sharp rallies and sudden breakdowns, depending on how macro catalysts play out.

Short-Term vs Long-Term Outlook

In the near term, Bitcoin price may remain range-bound between 85,000 and 95,000 USD. Traders should watch for confirmation candles above or below this range to determine the next directional move. Longer term, the macro backdrop—rate cuts, slower growth, and lingering inflation—still supports Bitcoin’s role as a hedge. But without a clear bullish trigger, it might consolidate before attempting any decisive rally toward new highs.

Bitcoin Price Prediction: Consolidation Before a Potential Breakout

If $BTC price manages to hold above 89,500 USD through the week, it could attempt a move back toward 95,000–97,000 USD. Failure to sustain above that level may invite renewed selling, dragging price toward 83,000 USD support. Overall, the structure points to short-term consolidation with a medium-term bullish bias—especially if inflation stabilizes and the Fed hints at more easing early next year.

When a company like SpaceX quietly shifts almost a billion dollars worth of bitcoin around the blockchain, people notice. And when that same company is gearing up for what could become the biggest IPO in history, every onchain movement suddenly feels like a clue. Let’s break down what’s happening, why SpaceX is reorganising its crypto treasury now, and how this ties into the company’s reported 2026 listing plans.

Why Did SpaceX Move Another $95 Million in Bitcoin?

SpaceX moved 1,021 BTC on Wednesday, worth about $94.5 million, sending the funds to two fresh, unlabeled addresses. The split was simple: 614 BTC to one, 407 BTC to the other. This wasn’t a one-off event. It was the second transfer this month and the ninth this year, bringing total movements to around 8,910 BTC, or roughly $924 million.

Onchain analysts believe this isn’t a sell-off but a custody upgrade. Here’s what that really means: SpaceX appears to be migrating funds from older bitcoin address formats that start with 1 to more modern, secure formats like bc1q and bc1p. These updates improve efficiency, reduce fees, and align with institutional standards. Some transfers also show consolidation between newer formats, suggesting a long-overdue clean-up of their crypto treasury.

The transfer flowed through Coinbase Prime, signaling that institutional custody partners are involved and the process is deliberate, structured, and compliant. In other words, this isn’t Musk panic-moving coins. It’s housekeeping at scale.

What Does This Say About SpaceX’s Actual Bitcoin Holdings?

There’s been confusion around how much BTC SpaceX actually holds. Arkham Intelligence identified 8,285 BTC linked to the company in March 2024. Today, Arkham’s dashboard shows 3,991 BTC. But that drop doesn't necessarily mean SpaceX sold half its stash.

Most likely, recently moved coins haven’t yet been labelled or linked back to SpaceX by Arkham’s algorithms. Blockchain intelligence platforms often lag recognition when funds jump to fresh wallets. Meanwhile, Bitcoin Treasuries still lists the full 8,285 BTC figure, reinforcing the idea that labeling delays are skewing the picture.

This wouldn’t be the first time Elon Musk’s companies reshuffled their crypto exposure. Tesla reduced its bitcoin position in 2022 during the chaos caused by Terra-Luna, FTX, and the broader liquidity crunch. SpaceX reportedly trimmed about 70 percent of its holdings around the same time. Since then, both companies have kept their remaining bitcoin quiet and untouched, at least publicly.

Why the Timing Matters: SpaceX Is Preparing a Massive IPO

These onchain movements aren’t happening in a vacuum. Bloomberg reported that SpaceX is preparing for a 2026 IPO that could raise over $30 billion at a staggering $1.5 trillion valuation. That target would put SpaceX near the level Saudi Aramco hit during its record-breaking 2019 offering.

A listing of this scale demands immaculate financial housekeeping. Every asset, every subsidiary, every balance-sheet line item needs to be clean, transparent, and easy for regulators and institutional investors to review. Treasury consolidation fits neatly into that picture. Legacy addresses and scattered wallets don’t.

Sources say SpaceX is eyeing a mid-to-late 2026 debut, although market conditions could push the listing into 2027. Either way, the preparation phase has clearly begun, and reorganising large digital asset positions is exactly the kind of move companies make when gearing up for extensive auditing and disclosure.

What This Really Means for the Market

SpaceX remains one of the most influential private companies in the world, and Elon Musk’s crypto-related decisions often ripple far beyond their immediate context. These transfers aren’t signals of a sell-off. They’re signs of maturing treasury management.

If SpaceX wants to walk into public markets with a trillion-dollar valuation, restructuring its bitcoin storage is a small but essential step. And given the scale of the IPO plans, investors will likely interpret these moves as preparation rather than hesitation.

In short, the bitcoin shifts tell us less about Musk’s crypto conviction and more about how close SpaceX is getting to a historic, generational listing.

The crypto market is entering a critical momentum phase. Bitcoin remains steady above $92,000, Ethereum just broke out of a long 14-month downtrend, and over $1.5 billion worth of BTC shorts are at risk of liquidation if Bitcoin touches $95,076. At the same time, major political and institutional players in the U.S. are openly accumulating Bitcoin, adding a new layer of confidence to the market’s long-term outlook.

Combined, these signals suggest that the crypto market may be preparing for a powerful upside move — one that could reshape Bitcoin dominance, fuel an Ethereum-led rotation, and set the stage for the next altcoin cycle.

1. Political and Corporate Buying Signals a Strong Shift

Eric Trump’s “America Bitcoin” Buys 416 BTC Worth $38 Million

Eric Trump’s Bitcoin-focused entity has acquired 416 BTC, marking one of the clearest indications that U.S. political figures are preparing for a Bitcoin-driven financial future.

What this signals:

• Political capital is entering Bitcoin.
• Long-term institutional-style positioning.
• Increasing likelihood of pro-Bitcoin U.S. policy direction.

Vivek Ramaswamy’s ‘Strive’ Targets $500 Million for Bitcoin Purchases

Vivek Ramaswamy is raising half a billion dollars to buy additional Bitcoin — a move aligned with the growing political embrace of digital assets.

Market implications:

• Strengthened institutional demand.
• Rising scarcity as large buyers accumulate.
• Higher confidence in Bitcoin’s long-term trajectory.

Amazon Announces $35 Billion Investment in India

While not directly connected to crypto, Amazon’s massive Indian expansion reinforces global tech-sector growth — historically correlated with risk-on market phases such as crypto rallies.

2. Ethereum Breakout Points Toward Altseason

ETH Dominance Breaks a 14-Month Downtrend

Ethereum has finally broken out of a bearish structure that lasted more than a year. The last time this happened, ETH rallied more than 100% in under two months.

Why this matters:

• ETH strength typically precedes altcoin rallies.
• Traders rotate from BTC profits into ETH and high-cap alts.
• Market sentiment shifts toward higher-risk assets.

Ethereum already surged above $3,300, reinforcing the bullish setup.

3. A $1.5B Bitcoin Short Squeeze Is Approaching

More than $1.5 billion in Bitcoin shorts will be liquidated if BTC surpasses $95,076. With Bitcoin currently near $92,000, only a modest push could trigger an enormous cascade.

Potential outcomes:

• A sharp vertical move toward $100,000.
• Liquidity injection as shorts are forced to buy.
• Altcoins accelerating as volatility increases.

This is one of the most significant short-squeeze setups of the year.

4. Market Overview — Stability Setting Up Expansion

Bitcoin (BTC): ~$92,000 (+1.58%)

Steady consolidation with strong demand behind it.

Ethereum (ETH): ~$3,312 (+5.63%)

Breakout leader and strongest large-cap performer.

Solana (SOL): $137 (+2.6%)

Gradual upward trend as risk appetite rises.

ADA, DOGE, TRX:

All showing coordinated upward movement — typical of early rotation.

XRP:

Slight pullback around $2 after recent ETF-driven inflows.

HYPE:

Outperforming with +2.7%, benefiting from increased derivatives activity.

Overall sentiment:

• Risk appetite is improving.
• Liquidity is returning across sectors.
• Market rotation from BTC → ETH → Altcoins has already begun.

5. What Traders Should Watch Next

Bitcoin Retesting $95,000

This level determines whether the $1.5B short squeeze will ignite.

Ethereum Maintaining Its Breakout

Holding above $3,300 confirms the start of altseason conditions.

Continued Political and Institutional Accumulation

Market confidence grows as high-profile buyers enter the space.

Altcoin Volume Expansion

Rising liquidity in ETH, SOL, LINK, and HYPE supports the next rotation wave.

The crypto market is flashing multiple bullish signals at once: political buyers accumulating Bitcoin, Ethereum breaking a long-term downtrend, and a massive short squeeze level just above current prices. With BTC stable above $92,000 and ETH gaining strong momentum, the stage is set for the next market phase — one that could push Bitcoin toward six figures and ignite broad altcoin acceleration.

Google's Disco builds custom apps from your open tabs, hinting at a post-search future.

Terraform Labs founder Do Kwon was sentenced to 15 years in prison, following the $40 billion collapse of UST and Luna in May 2022.

Save the Children introduced a Bitcoin fund aimed at speeding cash assistance during emergencies and expanding its use of crypto tools.

Top markets on Myriad this week include predictions on Ethereum's next move, if Bitcoin is headed back to $100K, and Solana’s next milestone.

World Liberty Financial’s USD1 stablecoin is now a part of Binance’s core infrastructure, the President Trump-backed crypto project said.

The market is taking a turn in the wrong direction after Ethereum fails to deliver a proper recovery pattern and, generally, it is unlikely to get better around here.

Ripple will be hosting back-to-back Swell events in New York.

Crypto market today: SHIB sees major exchange outflow; XRP forms key price support; ETH whales wakening.

This year has been extremely disappointing for the leading cryptocurrency..

Large XRP transfer stirs attention as crypto market resumes downtrend.

In a market searching for the next breakout star, GeeFi is delivering undeniable momentum with its blockbuster presale. Phase 1 was an absolute triumph, selling out 10 million tokens and raising $500,000 in just over a week. This explosive energy has only accelerated, with total funds raised now soaring past the $1 million mark, supported by a dedicated community of over 2,400 investors. 

As a fully decentralized ecosystem committed to user ownership, GeeFi is resonating with smart money. The excitement is so palpable that analysts are predicting the upcoming Phase 3 will sell out in under 10 days, fueled by strong rumors of imminent major exchange listings.

The Superior Choice for Real-World Utility

While Ripple (XRP) trades around $2.06, facing resistance at $2.22 and finding support at $2.02, savvy investors are shifting focus to high-growth opportunities like GeeFi. The GeeFi ecosystem is a comprehensive, non-custodial suite of financial tools built for the modern crypto user. At its core is the GeeFi Wallet, a secure mobile application that gives users absolute control over their private keys, offering a level of security that centralized exchanges cannot match. The app is already live on Android, with an iOS version currently in development to serve an even broader audience.

The ecosystem extends far beyond secure storage. It features an integrated Decentralized Exchange (DEX) that supports over 14 networks, facilitating seamless cross-chain swaps and bridging. Furthermore, the highly anticipated GeeFi Crypto Card is set to bridge the gap between digital assets and the real world, enabling users to spend their crypto globally via VISA and Mastercard networks. Developed by the GeeFi Team since 2023, this platform is built on tangible, ready-to-use utility rather than empty promises.

An Unprecedented Presale Opportunity

The GeeFi presale is strategically designed to reward early adopters with exceptional returns. Currently in Phase 2, tokens are available at the incredibly low price of $0.06. This entry point is driving a buying frenzy, as the confirmed listing price of $0.40 guarantees presale investors a 667% return immediately upon launch. 

The potential for wealth generation is immense: a $1,200 investment today could balloon to $40,000 if the token hits a conservative $2 valuation, delivering a staggering 3,233% ROI. With Phase 2 already over 80% sold out, having raised an additional $750,000 from 13 million tokens sold, the window of opportunity is closing fast.

Earn More with Industry-Leading Staking Rewards

GeeFi provides some of the most competitive and sustainable yields in the crypto market, creating a powerful incentive for long-term holding. Investors can earn a massive 55% APR by locking their GEE tokens for 12 months. For those who prefer more liquidity, the platform offers flexible terms, including 22% APR for three months and 15% APR for one month. In a standout move, GeeFi even offers up to 10% APR for staking with no lock-up period, allowing users to earn passive income while keeping their funds instantly accessible.

The rewards extend beyond staking. GeeFi’s lucrative referral program offers a 5% bonus in GEE tokens for every purchase made through a user’s unique referral link. This community-driven growth model rewards early supporters who help expand the ecosystem.

The 100x Gem You Cannot Afford to Miss

Every bull cycle produces a few projects that redefine the market, and all indicators suggest GeeFi is poised to be one of them. Its incredible presale velocity in a choppy market is a clear signal of its immense potential. Market analysts are calling it a 100x gem, recognizing its powerful combination of a finished product, a clear roadmap, and unparalleled ROI potential. 

The presale is your last chance to secure a position at a ground-floor price before the token hits major exchanges and its value explodes. With Phase 2 selling out rapidly, the fear of missing out is real. Don’t let this opportunity pass you by.

Learn More

Website – geefi.io

Buy $GEE Token – hub.geefi.io/buy

Whitepaper – docs.geefi.io

Telegram Chat – @geefichat

Twitter/X – @GeeFiOfficial

Discord – discord.com/invite/geefi

Download App – geefi.io/download

CoinMarketCap – coinmarketcap.com/currencies/geefi/

The post Ripple (XRP) Down Another 3.2% in 24H, yet GeeFi’s (GEE) Presale Reaches $750K Only in Phase 2 appeared first on Blockonomi.

TLDR

• The CFTC withdrew outdated crypto market regulations to better align with current market practices.
• New regulations will aim to improve market safety and enhance access to crypto trading.
• The CFTC has launched the Crypto Sprint initiative to gather public feedback for the new rules.
• The Presidential Working Group recommended clearer regulations for better consumer protection.
• The CFTC has taken steps to adapt to the evolving crypto market, including approving spot crypto trading.

The U.S. Commodity Futures Trading Commission (CFTC) has withdrawn outdated crypto market regulations. The move aims to align the agency’s guidance with the evolving crypto market. The CFTC also plans to introduce new rules for better market oversight.

CFTC Acts to Update Crypto Market Rules

The CFTC has announced the removal of old guidance regarding crypto assets. The agency stated that the previous rules no longer reflect current market practices. Caroline Pham, the acting CFTC Chairman, emphasized that this decision allows for safer market access.

By removing the outdated rules, the CFTC opens the door for new, more relevant regulations. The agency intends to craft guidelines that better match the dynamic nature of the crypto market. The CFTC also welcomes public input through its Crypto Sprint initiative, allowing industry feedback.

Pham described the withdrawal as proof of the agency’s commitment to keeping up with the rapidly changing market. The CFTC has stressed that these adjustments will enhance the safety and accessibility of the crypto market in the U.S. By aligning its rules with current practices, the agency aims to support both innovation and consumer protection.

CFTC Signals Shift Toward Clearer Crypto Market Regulations

The withdrawal of old crypto market rules comes after recommendations from the Presidential Working Group on Digital Asset Markets. The group advised regulators to offer more transparent and consistent consumer protection measures. Industry stakeholders have long expressed concerns about the ambiguity of existing regulations.

The CFTC’s move to scrap outdated rules is seen as an effort to meet these demands. The agency has been under pressure to establish a clearer regulatory framework for crypto markets. Many market players argued that the previous rules were too vague and hindered innovation.

The CFTC’s decision also signals its readiness to adapt to a fast-evolving market. In recent months, the agency has taken steps to approve spot crypto trading in the U.S. The new regulations, once introduced, aim to ensure both security and market access while encouraging growth.

The post CFTC Takes Action to Revise Outdated Crypto Rules and Enhance Oversight appeared first on Blockonomi.

TLDR

• U.S. Senate nears confirmation vote for Mike Selig (CFTC) and Travis Hill (FDIC), expected next week.
• The Senate passed a procedural vote 52-47, bringing both nominees closer to final approval.
• Selig has experience with crypto at the SEC and is set to oversee CFTC’s role in crypto regulation.
• Hill has supported crypto-friendly policies as interim FDIC Chairman, aiming for inclusive crypto banking regulations.
• Both agencies, CFTC and FDIC, are crucial for U.S. crypto oversight, with Selig and Hill bringing continuity and leadership.

The U.S. Senate has taken another step toward confirming two key officials who will lead agencies overseeing the crypto sector. Mike Selig is nominated for Chairman of the Commodity Futures Trading Commission (CFTC), and Travis Hill is up for Chairman of the Federal Deposit Insurance Corporation (FDIC). The confirmation votes for both are expected next week after the Senate approved a resolution for the final vote.

Procedural Vote Nears Final Decision for CFTC, FDIC Nominees

On Thursday, the Senate passed a procedural vote with a 52-47 majority. This vote brings Selig and Hill closer to final confirmation. The final vote is expected early next week, according to a spokeswoman for Senate Majority Whip John Barrasso.

Mike Selig’s confirmation would fill the vacant CFTC Chairman position. He has worked on crypto-related matters at the Securities and Exchange Commission (SEC). Selig is poised to oversee the CFTC’s role in regulating the crypto market, which may expand with future legislation.

Travis Hill has been serving as the interim FDIC Chairman. His confirmation would solidify his position in leading the FDIC. Hill has supported crypto-friendly banking policies, aiming to create a more inclusive regulatory environment for digital assets.

Crypto Oversight Role for CFTC and FDIC

Both the CFTC and FDIC play critical roles in overseeing the U.S. crypto sector. The CFTC is expected to take a leading role in crypto regulation. The agency has already taken steps, such as allowing Bitcoin, ETH, and USDC to be used as collateral.

The FDIC’s role, under Hill’s leadership, is focused on ensuring financial institutions can provide banking services to crypto firms. Hill’s interim leadership has already shown favor for crypto-friendly policies, benefiting digital asset-related businesses. His official confirmation would finalize these efforts.

Selig’s appointment would also bring continuity to the CFTC’s approach to crypto. The agency has been making strides to adapt to the growing crypto sector. Selig’s experience in crypto matters could lead to further proactive measures for oversight.

The post Selig and Hill Near Final Confirmation for CFTC and FDIC Positions in Crypto Regulation appeared first on Blockonomi.

TLDR

• JPMorgan arranged a commercial paper issuance for Galaxy Digital using Solana blockchain.
• The debt issuance was settled in USDC stablecoin, marking a significant blockchain use case.
• Coinbase and Franklin Templeton participated as investors, highlighting institutional interest.
• The deal represents a shift toward tokenizing real-world financial assets on blockchain.
• The tokenized asset market could reach $18.9 trillion by 2033, according to BCG and Ripple projections.

JPMorgan has arranged a groundbreaking commercial paper issuance for Galaxy Digital using the Solana blockchain. This marks one of the first of its kind in the U.S. and is settled using USDC, a stablecoin issued by Circle.

JPMorgan’s Role in the Galaxy Digital Issuance

According to a report by Bloomberg, JPMorgan served as the arranger for Galaxy Digital’s commercial paper issuance, which is a short-term debt instrument used by companies to raise working capital. The deal was structured on the Solana blockchain, offering a more efficient and faster settlement process compared to traditional systems.

Coinbase and Franklin Templeton both invested in the debt issuance, underscoring the increased institutional interest in blockchain technology for traditional financial instruments. Galaxy’s investment banking arm handled the structuring of the issuance, while JPMorgan took charge of the settlement process.

Coinbase acted as both an investor and wallet provider for the transaction. Franklin Templeton, a major player in investment funds, also took part in the deal. This collaboration between leading institutions sets a strong precedent for blockchain-based debt transactions in the future.

Tokenization of Real-World Assets Gaining Momentum

The use of blockchain technology for tokenizing real-world assets (RWA) like debt instruments has been growing rapidly. Tokenization promises several benefits, including faster settlement times and reduced transaction costs.

According to a report by BCG and Ripple, the tokenized asset market could reach $18.9 trillion by 2033. JPMorgan’s involvement in this transaction further solidifies its position as a leader in blockchain innovation within the financial sector.

As it was reported by Blockonomi, the bank previously launched JPM Coin and developed its Onyx blockchain unit, which has executed several blockchain-based transactions. As blockchain adoption in finance continues to rise, the tokenization of assets is expected to gain more traction, with institutions like JPMorgan leading the charge.

The post JPMorgan Facilitates First U.S. Blockchain Debt Deal for Galaxy Digital appeared first on Blockonomi.

TLDR:

• Ethereum’s Net Taker Volume is forming higher lows, suggesting aggressive selling exhaustion across major exchanges.
• Current taker flow behavior resembles early 2025, when ETH bottomed before a multi-month expansion phase.
• Binance data shows Net Taker Volume improving from deep negative levels, indicating strengthening buyer activity.
• A positive flip in Net Taker Volume within weeks could align with past setups that preceded new ETH all-time highs.

Ethereum’s Net Taker Volume is showing early signs of bottoming as the metric forms a series of higher lows, pointing to weakening aggressive sell pressure. 

Market activity over the last three months indicates that sellers are losing control, even though the indicator remains in negative territory. This structure mirrors the earlier phase of 2025, when Ethereum began recovering from deep selling before staging a strong rally.

During that period, Net Taker Volume gradually moved upward inside the negative zone and eventually crossed into positive territory by April. 

Once that shift occurred, Ethereum advanced more than three times from its January lows and later recorded a new all-time high. Current data suggests a similar foundation may be forming as the market continues to absorb remaining sell flows.

Buyer Activity Begins to Strengthen Within Negative Territory

Ethereum’s Net Taker Volume has been recovering consistently since the September low, signaling that the intensity of aggressive selling is fading. 

The 30-day moving average is climbing steadily, forming a structure that typically precedes a directional shift. If the current pace holds, a potential positive reading may surface in roughly one month.

Market analyst maartunn observed the same trend, noting that Binance taker flows have improved from roughly –$500 million during late October to –$138 million. 

The comment marks a clear change in trader behavior, even with ETH still trading near lower levels. This suggests that taker buyers are gradually reclaiming ground after months of sustained selling.

Net Taker Volume measures the balance between aggressive buyers and sellers. Traders using taker orders prioritize immediate execution rather than waiting for bids or offers.

As the metric moves upward, it reflects growing participation on the buy side, which often precedes a shift in momentum.

Historical Patterns Increase Market Attention

The current setup resembles the early 2025 structure when Ethereum began forming rising lows in Net Taker Volume before flipping positive. 

That transition signaled the start of one of its strongest upward phases, ultimately resulting in a major breakout. Traders are watching whether the same behavior unfolds again as selling pressure continues to ease.

Since the heavy wave of sell flows in September, the market has absorbed activity for nearly three months. 

This absorption phase has created a more stable environment, reducing the downward force that dominated earlier. Each incremental rise in the indicator supports the case for a potential shift in directional bias.

If Net Taker Volume enters positive territory in the coming weeks, historical precedent suggests the market could be approaching another expansion phase. 

Previous cycles show that this shift often aligns with the beginning of an advance toward new high levels, making the next month crucial for Ethereum’s trajectory.

The post ETH Net Taker Volume Shows Signs of Bottoming: Could History Repeat Itself? appeared first on Blockonomi.

Gemini Space Station announced on Wednesday that its affiliate Gemini Titan secured approval from the US Commodity Futures Trading Commission (CFTC) to operate a Designated Contract Market (DCM).

The decision opens the door for the exchange to begin offering regulated prediction markets in the United States.

Gemini Titan Debuts in Prediction Markets

The launch marks Gemini’s first entry into the fast-growing event-contracts sector, where traders buy and sell binary “yes or no” positions tied to future outcomes. Gemini, which first filed for a DCM license in March 2020, had not previously disclosed that the application would form the basis of a standalone prediction-market platform.

US customers will initially access the contracts through Gemini’s website using existing USD balances, and mobile access is expected to follow. The move places Gemini in a competitive field led by Kalshi and Polymarket, platforms that saw trading volumes surge during last year’s US election cycle and continue climbing since President Donald Trump took office.

The sector has been shaped by years of cautious CFTC oversight, including enforcement actions such as the earlier ban on Polymarket and tight restrictions on political-themed markets. A recent legal win by Kalshi against the CFTC over event-contract listings has widened the regulatory pathway for platforms seeking to expand into categories such as sports and economic forecasting.

Gemini’s CEO, Tyler Winklevoss, thanked Trump for “ending the Biden Administration’s war” on the sector and added that “it’s incredibly refreshing and invigorating to have a President and a financial regulator who are pro crypto, pro innovation, and pro America.”

Meanwhile, the exchange’s President Cameron Winklevoss said,

“Prediction markets have the potential to be as big or bigger than traditional capital markets. Acting Chairman Pham understands this vision and its importance. Unlike her predecessor, Acting Chairman Pham has positioned the CFTC as a pro-business, pro-innovation regulator that will allow America to lead in these new and exciting markets.”

The official press release also revealed that Gemini Titan may later broaden its derivatives offerings to include crypto futures, options, and perpetual contracts, products widely traded in Asia but historically limited in the United States due to regulatory hurdles.

CFTC Warms Up to Prediction Markets

Prediction markets are gaining momentum in Washington as the CFTC, now led by Acting Chair Caroline Pham under Trump’s second term, has taken a more welcoming approach to the sector. In October, CryptoPotato reported that Trump Media and Technology Group said it would launch a prediction market inside Truth Social through an exclusive partnership with Crypto.com.

The new feature, called Truth Predict, will let users trade contracts on elections, inflation moves, commodity prices, and sports results. Crypto.com CEO Kris Marszalek said the industry could grow into a “multi-deca-billion-dollar” market.

The post Gemini’s Tyler Winklevoss Thanks Trump for Ending the Biden Administration’s War on Crypto After DCM License appeared first on CryptoPotato.

SpaceX and BlackRock recently shifted more than $296 million in Bitcoin (BTC) to Coinbase Prime, according to on-chain trackers at Lookonchain.

The large transfers landed just hours before the U.S. Federal Reserve confirmed a 25-basis-point rate cut, adding fresh tension to an already shaky market.

The timing has drawn traders into a debate over whether these moves signal strategic custody changes or preparations to sell amid heightened volatility.

Fresh Transfers Raise Questions as Fed Decision Hits Markets

According to Lookonchain, SpaceX moved another 1,021 BTC, worth around $94 million, to a Coinbase Prime-linked address on December 10, continuing a pattern of weekly transfers near the $100 million mark over the past two months. The firm had shifted 1,083 BTC five days earlier, following a series of similar transactions stretching back to October.

BlackRock made an even larger move, depositing 2,196 BTC valued at about $203 million to Coinbase Prime within the same 24-hour window. Social media reaction split quickly. Some market watchers, like Ted Pillows, worried that it signaled “more selling,” while others, such as 0xNobler, accused the asset manager of applying pressure ahead of the Fed announcement.

At the same time, several bullish accounts highlighted that BlackRock’s ETF bought roughly $191 million in Bitcoin and $55 million in Ethereum (ETH), adding to the confusion about whether the firm is accumulating or trimming exposure.

The SpaceX transfers also came amid intense speculation about the company’s future. As reported by Bloomberg, SpaceX is seen as a potential candidate for a historic initial public offering, with chatter about a Starlink spinoff and a staggering private valuation estimated at up to $1.5 trillion.

Market Backdrop, Price Action, and What Comes Next

The timing of these transfers has amplified market unease. They occurred just as the price of BTC experienced notable volatility, dropping from a brief spike above $94,500 on December 10 to around $90,000 at press time.

Price ranges remain wide: BTC moved between $89,000 and $94,000 in the past 24 hours and between $88,000 and $94,000 across the past week, reflecting the unsettled atmosphere around monetary policy expectations.

Furthermore, over the past month, the asset has fallen by more than 14%, lagging behind ETH and several top altcoins that saw stronger rebounds earlier in the week.

Despite the turbulence, market structure may be steadier than headlines suggest. Coinbase Institutional recently noted that speculative positioning has cooled from summer levels, which they believe could support a more stable trend as December progresses.

For now, the core question remains whether SpaceX and BlackRock’s transfers represent routine storage adjustments or preparations for liquidity events during an uncertain macro window. With BTC down more than 28% from its October all-time high and Fed policy still shaping sentiment, traders are watching the next wallet movements closely.

The post SpaceX, BlackRock Shift $296M in Bitcoin: Sell-Off Signal Ahead? appeared first on CryptoPotato.

Coinbase has begun expanding its native support for Solana, introducing Solana-based DEX trading directly inside its app.

The move gives the exchange’s 100 million users immediate access to every token launched on Solana without waiting for listings, and it marks one of Coinbase’s most aggressive steps yet into permissionless markets, positioning Solana as a top priority in its broader product strategy.

Coinbase Brings Full Solana Token Access to Its App

During a presentation at the Solana Breakpoint 2025, Andrew, a protocol specialist at Coinbase, explained that the company wants to make the fast-growing Solana ecosystem easily reachable for everyday users.

“Millions of assets are launching on-chain every day, and we think these should be accessible to all of our users,” he said.

According to him, Coinbase has now integrated DEX trading natively, allowing its app to support “the same easy-to-use interface… now allowing you to trade any token on Solana.”

He added that users can pay with USDC, cash, bank accounts, or debit cards, while builders no longer need a formal listing as long as their tokens have enough liquidity.

“For our users, this means they get early access to millions of tokens,” he added. “For issuers and builders… you can be accessible to the millions of users on Coinbase without getting listed.”

The Solana Foundation amplified the announcement on X, writing that “every Solana token will be available instantly to trade by 100 million users on Coinbase,” framing the development as a major expansion of the network’s reach.

At the same time, Solana highlighted the launch of Phoenix Perpetuals by Ellipsis Labs, adding to the momentum around Solana-native trading infrastructure.

Market Reaction

Despite the upbeat news cycle, SOL’s price has lost ground over the past month. At the time of writing, the token was trading around $131 after sliding roughly 6% in the last 24 hours and nearly 9% over the week.

The decline extends to a deeper 20% drop across 30 days, part of a wider slowdown that has pulled SOL down by about 40% from a year ago. Still, the trading volume remains high at more than $7.4 billion in the past day, reflecting active participation even during the pullback.

The broader context still matters. Solana is coming off a period of strong ecosystem expansion that includes rising institutional interest, with Invesco Galaxy’s Solana ETF reportedly close to launch, and growing traction for new DeFi tools.

The news is also encouraging for Coinbase, especially after reports nearly a month ago revealed the collapse of its planned $2 billion acquisition of stablecoin startup BVNK. Giving its estimated 100 million users instant access to every Solana token marks a significant step for both companies and sets the stage for heavier competition across on-chain trading platforms.

The post Coinbase Launches Solana DEX Trading for 100M Users appeared first on CryptoPotato.

Ripple has one of the strongest communities in the crypto industry, while XRP boasts a huge army of dedicated holders worldwide. As such, predictions related to the asset always spark considerable interest.

So we asked four of the most popular AI-powered chatbots to forecast XRP’s most likely price on the final day of 2025.

Increase of 20%?

As of this writing, XRP trades just north of $2, meaning a 7% decline on a weekly scale. According to ChatGPT, the asset has been trading in a broad consolidation band in the past months, where the lower boundary is held up by persistent long-term holders, while the upper one is defined by “extremely heavy resistance around the $3 region.”

The chatbot predicted that XRP could soar by 20% to $2.40 on New Year’s Eve, and this target sits right at the midpoint of the most commonly projected range of $2-$3.

“It reflects moderate upside without assuming a breakout through heavy resistance near $3.00. It aligns with the current state of the market: cautious optimism, but no mania,” ChatGPT added.

The chatbot envisioned a scenario where XRP pumps above $3 by the end of 2025, but such a rally would heavily depend on factors like overall market resurgence or a sudden wave of positive sentiment around Ripple and institutional adoption.

Grok shared a much similar forecast. The chatbot, integrated within the social media platform X, envisioned the rise to $2.42 on New Year’s Eve and claimed a more substantial jump could occur if Bitcoin reclaims $100,000.

How About Lower Targets?

Perplexity was slightly less bullish, expecting XRP’s valuation to reach $2.34 on the last day of the year. At the same time, the chatbot made an important disclaimer that predicting the exact price of a certain cryptocurrency is highly speculative, and investors should not rely on that but instead conduct thorough research before jumping on the bandwagon.

Google’s Gemini could not outline a specific target, simply saying that the chances of a rally to the range of $2.10-$2.20 seem highest. On the contrary, the explosion to a new all-time high by New Year’s Eve appears to be the least probable scenario.

The post What is Ripple’s (XRP) Most Likely Price for New Year’s Eve? 4 AIs Give Their Answers appeared first on CryptoPotato.

Solana’s lending markets have seen rapid growth as the network continues to expand its on-chain finance capabilities, according to a report by RedStone.

The report found that Solana has maintained 100% uptime for 12 months, delivered transaction finality in roughly 400 milliseconds at a median cost of $0.001, and reached $35.9 billion in peak daily DEX volume.

Inside Solana’s $3.6B Lending Market

Total value locked (TVL) in Solana’s lending markets reached $3.6 billion as of December 2025, up from $2.7 billion a year earlier. Solana money markets remain highly competitive, with multiple protocols operating and market leadership shifting rapidly.

Among leading platforms, Kamino Lend reported $3.5 billion in TVL after its May 2025 upgrade, introducing a Market Layer and curator-managed Vault Layer. Jupiter Lend, launched in August 2025, reached $1.65 billion in TVL within months, offering isolated vaults with rehypothecation, high loan-to-value ratios, and low liquidation penalties. The report noted that individual protocol TVLs can sum higher than the total network lending TVL because double-counting is removed when borrowed capital flows between protocols.

Meanwhile, Drift’s v3 upgrade combined derivatives trading with integrated lending functions, and achieved sub-400 millisecond execution for most market orders, while Loopscale operates an order-book lending platform with $124.9 million in TVL and $40 million in active loans.

SAVE (formerly Solend) and marginfi also remained active but held smaller market shares.

RWA And Institutional Capital Targets Solana

The next wave of growth on Solana is centered on tokenized real-world assets and institutional capital deployment. According to the report, several major issuers have launched or expanded tokenized products on the network, including Securitize, BlackRock’s BUIDL fund, VanEck’s VBILL, Apollo’s ACRED, Ondo, and Backed Finance.

Meanwhile, Keel, an on-chain capital allocator linked to Sky Protocol, has already outlined a deployment roadmap of up to $2.5 billion across lending markets, stablecoin liquidity, and tokenized real-world assets. RedStone noted that Gauntlet, which serves as a curator and risk manager, oversees more than $140 million across Kamino and Drift vaults and manages strategies linked to the CASH vault, a fiat-backed stablecoin issued by Phantom, Bridge, and Stripe.

The report said these developments reflect increasing involvement from institutional participants operating through curated vaults, structured allocations, and tokenized asset products across the Solana ecosystem.

The post Solana Lending TVL Soars to $3.6B as New Protocols Battle for Market Dominance appeared first on CryptoPotato.