Top News Highlights

  • Six major banks halt sales of 5-year large deposit certificates.
  • Coinbase executives and Marc Andreessen sued for alleged insider trading.
  • Federal Reserve December rate cut probability at 87.6%.
  • Grayscale predicts Bitcoin to reach new all-time high in 2026.
  • Strategy updates FY2025 profit forecast, dependent on Bitcoin price.

Macroeconomic Developments

China's six major banks have stopped selling 5-year large deposit certificates, signaling a shift towards shorter maturities. This decision is driven by declining interest rates and banks' desire to reduce exposure to long-term deposits amid weak credit demand.

Cryptocurrency and Blockchain News

Coinbase is facing a shareholder lawsuit accusing executives and Marc Andreessen of insider trading based on non-public information. In other news, Vanguard will allow crypto ETF trading, marking a shift from its previous conservative stance.

The FDIC plans to release its first stablecoin regulatory draft under the GENIUS Act this month. Additionally, DeepSeek announced V3.2 release with improvements in reasoning and tool-calling capabilities, while Kalshi tokenized thousands of prediction markets on Solana.

Market Analysis

F2Pool data indicates that many older Bitcoin mining machines are now operating at a loss due to increasing network difficulty. However, newer liquid-cooled miners still hold an advantage.

Grayscale predicts that Bitcoin will reach a new all-time high in 2026, questioning the validity of the four-year cycle theory. Strategy is updating its FY2025 profit forecast based on potential Bitcoin prices.

Company News

OKX will delist a number of cryptocurrencies from its platform. The Coinbase 50 Index added six new projects. Coinbase will also list Plasma (XPL) for spot trading.

Key Data

Ethereum spot ETFs saw total net outflows of $79.06 million yesterday. Ethereum's ecosystem network TPS hit an all-time high, largely due to Lighter.

Funding and Acquisition

Gleec acquired Komodo's cross-chain DeFi stack for $23.5 million. Bitstack, a French crypto savings platform, raised $15 million in a Series A funding round.

Institutional Holdings

First Digital, a stablecoin company, plans to go public via SPAC merger. BitMine revealed it holds over 3% of ETH supply, totaling $12.1 billion in assets. Strategy established a $1.44 billion USD reserve for dividend purposes. Strategy also purchased another 130 Bitcoin for $11.7 million. Kazakhstan's central bank plans to invest up to $300 million in crypto assets.


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