JPMorgan deploys JPM Coin on the Base public blockchain, marking its first large-scale integration into the public blockchain ecosystem: JPMorgan has deployed its digital deposit token JPM Coin on the Base blockchain under Coinbase, marking the first large-scale integration of this Wall Street giant into the public blockchain ecosystem. JPM Coin is not a stablecoin, but a digital mapping of bank deposits with interest, restricted to whitelist user transfers, and is currently mainly used for collateral in crypto trading and margin payments. JPMorgan emphasizes that the deployment has complete permission control and risk isolation, reflecting the trend of traditional finance moving closer to DeFi.
Forward Industries, a Solana treasury company, has tokenized FWDI stock, making it accessible to the DeFi ecosystem: Forward Industries (FWDI), a Solana treasury company, has issued SEC-registered stock on the Solana blockchain through the Superstate platform, becoming publicly traded equity directly usable in DeFi. The company holds 6.8 million SOL with a net asset value of $832 million, and the tokenized FWDI uses the SPL standard, now supported as collateral for the Kamino lending protocol, enabling stablecoin lending via the Pyth oracle.
David Sacks: Legislation on crypto market structure is 'within reach' and expected to be completed in January: David Sacks, White House crypto and AI advisor, stated that we are currently 'closer than ever' to passing legislation on crypto market structure, hoping to complete this work in January.
ECB President Lagarde: Digital euro reaches an important moment and becomes a priority agenda item: ECB President Lagarde stated that the digital euro is approaching an important moment and has now become a priority for the ECB's governing council and parliament.
NYSE parent company ICE discusses investment in crypto payment company MoonPay: According to insiders, the Intercontinental Exchange (ICE), the parent company of the NYSE, is negotiating to participate in a round of financing for crypto payment company MoonPay, as traditional financial giants continue to increase their stake in the crypto space. About $23 billion in Bitcoin options are set to expire next Friday, with market volatility increasing: Bloomberg reports that about $23 billion in Bitcoin options will expire next Friday, accounting for more than half of the open contracts on the Deribit platform, with current market volatility significantly rising.
The total supply of stablecoins exceeds $304 billion, an annual increase of 33%, with trading volume surpassing Visa and PayPal: Data from Delphi Digital shows that the total supply of stablecoins has grown by 33% this year, exceeding $304 billion; the adjusted monthly trading volume has surpassed that of Visa and PayPal, with application scenarios continuing to expand.
The total market capitalization of gold-backed stablecoins exceeds $4 billion, nearly doubling since the beginning of the year: Market data shows that the total market capitalization of gold-backed stablecoins has surpassed $4 billion, nearly doubling from $1.3 billion at the beginning of 2025. Tether Gold (XAUT) dominates with a market cap of about $2.2 billion, accounting for 50%.
Institutions continue to increase their holdings in crypto assets: BlackRock has shifted to ETH, DBS Bank has received ETH, and Strategy has purchased 223,000 BTC this year: BlackRock transferred 6,952 ETH (approximately $19.86 million) to Coinbase Prime through its Ethereum ETF; DBS Bank received 3,000 ETH (approximately $848,000) from market maker GSR; Strategy has acquired 223,700 BTC this year, valued at $19.45 billion. Bitwise has submitted an S-1 registration statement for a SUI spot ETF to the SEC: Bitwise has formally submitted an S-1 registration statement for a SUI spot ETF to the U.S. SEC, continuing the expansion of the crypto ETF category.
Nasdaq-listed VivoPower plans to spend $300 million to acquire shares in Ripple Labs: Nasdaq-listed VivoPower announced that its digital asset division has been commissioned to acquire $300 million worth of equity in Ripple Labs, estimated to correspond to approximately 450 million XRP at current prices. VivoPower will not invest its own funds, profiting through management fees and performance sharing, aiming for a net return of $75 million within three years.
The DePIN project Fuse Energy on the Solana blockchain has completed a $70 million Series B financing, with a valuation reaching $5 billion: The DePIN project Fuse Energy based on the Solana blockchain has completed a $70 million Series B financing, led by Lowercarbon Capital and Balderton Capital, and the company's valuation has risen to $5 billion.
On-chain data: The number of active Bitcoin wallets hits a one-year low, and Ethereum exchange holdings drop to the lowest since 2016: CryptoQuant data shows that the number of active Bitcoin wallets has fallen to the lowest point in the past year; Ethereum exchange holdings have declined to the lowest level since 2016, reflecting an increase in cautious sentiment among traders and a easing of short-term selling pressure.
The U.S. core CPI rose 2.6% year-on-year in November, the lowest since early 2021: Data from the U.S. Bureau of Labor Statistics shows that the core CPI (excluding food and energy) rose 2.6% year-on-year in November, the lowest growth rate since early 2021; the overall CPI rose 2.7% year-on-year. Due to the government shutdown, October price data is missing, limiting the assessment of month-on-month changes.
Hassett: The CPI report is 'incredibly good', and the Fed has significant room to cut rates: Hassett, director of the White House National Economic Council and a leading candidate for Fed Chair, stated that the November CPI report is 'incredibly surprising', indicating that the U.S. economy is experiencing high growth with low inflation, and wage growth is outpacing prices. He emphasized that the Fed has substantial room to cut rates and needs to significantly enhance policy transparency in the future.
Trump: I am talking to three or four candidates for Fed Chair, endorsing Waller and Bowman: U.S. President Trump revealed that he has interviewed Fed Governor Waller and believes he performed excellently; he is currently in discussions with three or four candidates for Fed Chair and also endorses Fed Governor Bowman, with a final decision on the appointment expected soon.
The market expects the Fed to cut rates by 62 basis points next year, with a 73.4% probability of keeping rates unchanged in January: Pricing in the U.S. interest rate futures market shows that after the CPI data release, the market expects the Fed to cut rates by 62 basis points in 2026. According to CME's 'FedWatch', the probability of keeping rates unchanged in January next year is 73.4%, with a 26.6% probability of a 25 basis point cut; the cumulative probability of a 25 basis point cut in March is 46.8%, and a 50 basis point cut is 11.5%.
The Bank of England cuts interest rates to 3.75%, the lowest level in nearly three years: The Bank of England lowered the key interest rate from 4% to 3.75% on Thursday, close to its lowest point in nearly three years, restarting the interest rate cut process that had been paused since August 2024 (in November). The bank indicated that rates may continue to decline in the coming months but are close to the bottom.$BTC 
