Base launches Solana cross-chain bridge, Chainlink CCIP provides support: Coinbase's incubated Ethereum L2 network Base officially launches a cross-chain bridge, supporting cross-chain transfers between Solana and Base ecosystem assets, with security provided by Chainlink's cross-chain interoperability protocol, significantly enhancing interoperability between the two ecosystems.
CFTC acting chair: Spot crypto can be traded on CFTC-registered exchanges: Acting chair Caroline D. Pham of the U.S. Commodity Futures Trading Commission announced that spot cryptocurrency products can be traded on futures exchanges registered with the CFTC. This implementation follows the recommendations of the presidential task force and simultaneously promotes the activation of tokenized collateral and revisions of blockchain technology regulatory rules.
Citadel writes to SEC, calls for stricter regulation on RWA and DeFi: Financial giant Citadel submitted a letter to the SEC, suggesting stricter regulation on tokenized assets (RWA) and decentralized finance (DeFi). The crypto community has expressed opposition, fearing that excessive regulation could stifle innovation in the industry.
BlackRock CEO: Sovereign funds are increasing their Bitcoin holdings at low prices, ETFs becoming primary source of revenue: Larry Fink revealed that several sovereign funds have been continuously increasing their holdings of Bitcoin since it dropped from $126,000, intensifying their buying power in the $80,000 range to build long-term positions. He also disclosed that BlackRock's Bitcoin ETF has become the company's primary source of revenue, significantly contributing to its $13.5 trillion asset management scale.
Vanguard holds $69 million in MetaPlanet stocks: Vanguard Group, managing $11 trillion in assets, has disclosed holdings of 27.2 million shares of MetaPlanet ($MTPLF), valued at approximately $69 million, continuing institutional investment in crypto-related enterprises.
Mizuho maintains buy rating on Strategy, target price $484: Mizuho Financial Group, with assets of $2 trillion, maintains a buy rating on Strategy (formerly MicroStrategy), with a target price of $484, optimistic about the long-term value of its Bitcoin treasury model.
Financial blockchain company Digital Asset secures $50 million in funding: Digital Asset Holdings, focused on the financial sector, has completed a new round of $50 million funding, with participation from institutions such as Bank of New York Mellon, Nasdaq, and S&P Global. Previously, the company had already secured $135 million in funding this year, as Wall Street increases its investment in foundational blockchain technology.
November DeFi perpetual contract trading volume exceeds $1 trillion for the first time: DefiLlama data shows that the trading volume on decentralized perpetual contract exchanges (Perp DEX) exceeded $1 trillion in November, reaching the trillion level for two consecutive months, with the DeFi derivatives market continuing to expand.
XRP ETF has net inflows for 13 consecutive days, on-chain activity reaches new highs: The U.S. spot XRP ETF saw a net inflow of $50.27 million in a single day, totaling $874 million, marking 13 consecutive days of capital inflow. CryptoQuant data indicates that XRP's on-chain activity has reached an all-time high, reflecting a surge in liquidity and trading participation.
Glassnode: 25% of Bitcoin supply is at a loss, beware of bear market risks: Glassnode data shows that currently over 25% of Bitcoin supply is in a loss state, with market structure similar to the beginning of the crypto winter in early 2022. Institutions warn that Bitcoin needs to maintain the range of $96,000 to $106,000 to stabilize market structure and reduce the risk of downward pressure at the end of the year.
USDT OTC price falls below 7.0, inverted with RMB exchange rate: Data from various exchanges shows that the USDT C2C OTC price has dropped below 7.0, lower than the current approximately 7.07 central parity exchange rate of the RMB, creating a rare inversion phenomenon, reflecting changes in market liquidity and exchange rate expectations.
Polymarket forms internal market-making team, competition intensifies: The prediction market Polymarket is recruiting to establish an internal market-making team, aiming to trade with clients on the platform to enhance liquidity. Competitor Kalshi has operated a similar department but faced a class-action lawsuit alleging unfavorable odds for clients, raising concerns about conflicts of interest in the industry.
Binance co-CEO: Zhao Changpeng has retired from the exchange: He Yi publicly stated that Zhao Changpeng has officially retired from Binance and is currently focused on serving as a global ambassador for the cryptocurrency industry, as Binance's management adjustments take effect.
U.S. Treasury debt surpasses $30 trillion, interest expenditures reach $1.2 trillion: The total amount of U.S. Treasury bills, medium-term, and long-term government bonds has first surpassed $30.2 trillion, doubling since 2018, and constitutes a major portion of the national debt of $38.4 trillion. Interest expenditures alone have reached $1.2 trillion, with Citigroup warning that 'interest pressure far exceeds tariff revenue, leading to a debt quicksand.'
Federal Reserve has an 87% probability of a 25 basis point rate cut in December, targeting 3.25%-3.5% in 2026: CME data shows an 87% probability of a 25 basis point rate cut by the Federal Reserve in December. A Reuters survey indicates that 89% of economists expect a rate cut on December 10, with 50% predicting rates will drop to the 3.25%-3.5% range in the first quarter of 2026. White House Council of Economic Advisers Chair Hassett also confirmed that the next meeting is likely to result in a 25 basis point rate cut.
Meta significantly cuts Metaverse budget, plans to reduce by 30%: Zuckerberg plans to cut Meta's Metaverse department budget by 30% for 2026, affecting Horizon Worlds and Quest operations, possibly accompanied by layoffs in January next year. The core reason is that the industry's competition in Metaverse technology has not reached expectations, leading the company to compress non-core investments comprehensively.
