US OCC confirms: Banks can engage in risk-free principal cryptocurrency trading: The Office of the Comptroller of the Currency (OCC) has issued an interpretive letter 1188, clarifying that national banks have the authority to engage in risk-free principal cryptocurrency asset trading. Banks act as intermediaries, conducting offsetting transactions simultaneously with customers, without holding cryptocurrency inventory, similar to a brokerage role, and must comply with safe and sound operation requirements.
The EU finalizes capital market reforms for 2027, with cryptocurrencies included under ESMA regulation: The EU Commissioner for Financial Services has announced plans to launch a capital market integration reform in 2027, transforming the European Securities and Markets Authority (ESMA) into a centralized regulatory body, with cryptocurrency companies falling under its jurisdiction. The reform requires approval from the European Parliament and Council, with some member states opposed. The European Central Bank will announce a proposal to simplify bank regulation on Thursday.
Bitwise BITW listed on the New York Stock Exchange, first crypto index fund upgraded to ETP: Bitwise announced that its Bitwise 10 Crypto Index Fund (BITW) has been upgraded to an exchange-traded product (ETP) and is listed on the NYSE Arca, with a fund size of approximately $1.25 billion. The fund launched in 2017, tracking the top 10 crypto assets index and rebalancing monthly, with current holdings of Bitcoin at 74.34% and Ethereum at 15.55%, allocating 90% of the positions to BTC, ETH, and other regulator-approved assets.
MetaMask launches perpetual contracts, supporting long and short trades for US stocks and 150 tokens: The MetaMask wallet has officially launched perpetual contract functionality on its mobile app, supported by Hyperliquid protocol technology. Users can recharge using any EVM-compatible chain token and trade multiple US stocks and over 150 tokens directly, without needing centralized exchanges or additional DApp connections, with positions opening in seconds.
Securitize hires former PayPal executive to prepare for SPAC listing, valued at $1.25 billion: Asset tokenization company Securitize has appointed former PayPal head of digital asset legal Jerome Roche as general counsel, preparing for a Nasdaq listing through a SPAC under Cantor Fitzgerald, with the code set as SECZ, valued at $1.25 billion. The company is the issuer of the BlackRock on-chain treasury fund BUIDL and plans to tokenize its own equity.
Circle collaborates with Aleo to launch the privacy stablecoin USDCx: Circle announced a partnership with the Aleo blockchain to launch the privacy-enhanced stablecoin USDCx, achieving "bank-grade privacy" protection where transaction data is not visible to the public while maintaining compliance records for regulatory review, balancing privacy and compliance needs.
Standard Chartered halves Bitcoin price target to $100,000 for 2025: Standard Chartered released a report, lowering its Bitcoin price prediction for the end of 2025 from $200,000 to $100,000, while the long-term target of $500,000 has been postponed from 2028 to 2030. Analysts pointed out that the reason for the downgrade is the termination of aggressive purchases by companies like MicroStrategy, and the speed of ETF adoption by institutions is slower than expected. Future price increases will rely on ETF purchases, with the current quarter's ETF inflow down to 50,000 BTC, the lowest since inception.
Singapore Exchange perpetual futures trading volume reaches $250 million in two weeks: The Bitcoin and Ethereum perpetual futures launched by the Singapore Exchange (SGX) have accumulated a trading volume of $250 million in two weeks. President Michael Syn stated that most of the funds are new liquidity, primarily used by institutions for spot-futures arbitrage, adopting conservative margin management to avoid high leverage liquidations, aiming to create a benchmark contract for the Asian trading session.
RWA platform Real Finance secures $29 million in funding: The Real Finance tokenization network for real-world assets has completed $29 million in funding, with Nimbus Capital committing $25 million and Magnus Capital participating. The funds will be used to expand compliance and operational infrastructure, develop a full-stack RWA platform, and lower the adoption threshold for institutions.
Ethereum Foundation associated address transfers 5748 ETH to Kraken: On-chain monitoring shows that an address associated with the Ethereum Foundation transferred 5748 ETH to the Kraken exchange, worth approximately $17.89 million, raising market concerns about short-term liquidity.
Bitcoin mining company IREN issues $2.3 billion convertible bonds to complete refinancing: Bitcoin mining company IREN completed the issuance of $2.3 billion in convertible senior notes and repurchased $544.3 million of existing convertible bonds. The newly issued notes include $1 billion maturing in 2032 (coupon rate 0.25%), $1 billion maturing in 2033 (coupon rate 1%), and $300 million in overallotment, hedging equity dilution risk through capped call transactions.
Two giants speak out: Bitcoin cycle may break, ETH bullish sentiment is strong: ARK Invest founder Cathie Wood stated that the four-year cycle of Bitcoin may be broken, and the current point may have reached the lowest point of this cycle. Liquid Capital founder Yi Lihua stated that ETH has broken $3300, and they remain optimistic about future trends, emphasizing the need for investment to balance mindset and understanding.
Polymarket CEO admits: operating at a loss, prioritizing market share: Polymarket's CEO stated in an interview that the platform is currently operating at a loss, and the core strategy is to prioritize expanding market share. The platform does not charge transaction fees, and the profits from user trading price differences are distributed to liquidity providers rather than retained by the platform.
Hassett: The Federal Reserve has room for significant rate cuts, exceeding 25 basis points is feasible: Hassett, a leading candidate for the next Federal Reserve Chair and chair of the White House Council of Economic Advisers, stated that data shows the current Federal Reserve has ample room for significant rate cuts, with the extent possibly exceeding 25 basis points. Trump stated that rapid rate cuts are a "litmus test" for the chair candidate, and Hassett emphasized that he will adhere to independent judgment.
Trump starts final round of interviews for Federal Reserve Chair this week, has a preferred candidate: Trump announced the start of the final round of interviews for the Federal Reserve Chair this week, meeting with multiple candidates and has identified a preferred candidate. Hassett is the frontrunner, and will interview former Federal Reserve Governor Kevin Walsh on Wednesday, with other candidates including Federal Reserve governors Waller and Bowman. The Invesco group warns that if the independence of the new chair is questioned, the Federal Reserve may need to restart QE.
CME data: 87.6% probability of a 25 basis point rate cut by the Federal Reserve in December: CME's "FedWatch" indicates an 87.6% probability of a 25 basis point rate cut by the Federal Reserve in December, with a 12.4% probability of maintaining interest rates; the probability of a cumulative 25 basis point cut in January next year is 69.3%, with a 21.3% probability of a 50 basis point cut.
