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A recent analysis shed light on another correlation between the world’s largest cryptocurrency and stablecoin by market capitalization. Blockchain analytics provider Glassnode reported a “strong negative correlation” between Bitcoin’s and USDt’s activity over the last two years. In a Wednesday X post, Glassnode shared a comparison between Bitcoin’s (BTC) price and net flows of USDt (USDT) to exchanges starting in December 2023. According to the analysis, net outflows of USDT from exchanges coincided with increases in the price of BTC. “During euphoric phases, USDT typically flows out at –$100M to –$200M/day as investors lock in profits,” said Glassnode. “At the $126K peak [in October], net outflows reached >$220M (30D-SMA); A clear profit-taking signal now easing as flows turn positive again.” Read more
On-chain money market funds have grown nearly tenfold since 2023, but the Bank for International Settlements warns their adoption brings new liquidity and contagion risks. Tokenized money market funds are emerging as one of the most important yield-bearing assets on public blockchains, offering money-market returns and securities-level protections that stablecoins can’t provide, according to a new report from the Bank for International Settlements (BIS). According to the bulletin, tokenized money market funds now hold nearly $9 billion in assets, up from about $770 million at the end of 2023. The BIS warned that as these tokenized Treasury portfolios become a key source of collateral in the crypto ecosystem, they also bring new operational and liquidity risks. Tokenized money market funds are blockchain-based representations of traditional money market portfolios, providing investors with onchain access to short-term, interest-bearing assets, such as US Treasurys. Read more
Binance’s latest move targets demand from traditional wealth clients and asset managers taking their first steps into the crypto space. Binance has launched a concierge-style service designed for family offices, asset managers, and private funds taking their first steps into the crypto space. According to the exchange on Wednesday, the new service offers personalized onboarding with dedicated managers, support for over 100 fiat currencies, and access to tailored structured products. The service also includes credit lines, institutional-grade custody through partnered custodians, and real-time analytics and reporting tools designed to give professional investors clear visibility into their portfolios. Read more
Bitcoin’s momentum is restrained by uncertainty in interest rate policy, inflation expectations, the pending MSCI decision on crypto-focused firms, and stress in BTC derivatives. Key takeaways: Bitcoin derivatives and cautious interest rate expectations keep sentiment restrained, yet improving liquidity conditions bolster upside potential. Regulatory easing and MSCI’s review of BTC-heavy firms could lift risk appetite, supporting a more constructive medium-term outlook for Bitcoin. Read more
S&P Global Ratings downgraded Tether’s USDt to its lowest stability rating, raising concerns over its dollar peg. Tether classified the report as “misleading.” S&P Global Ratings has downgraded Tether’s USDt to the lowest score on its stablecoin stability scale, questioning the token’s ability to maintain its dollar peg. The “weak” assessment was due to several factors, including Tether backing USDt (USDT) with “higher-risk” assets such as Bitcoin (BTC), gold, loans, and corporate bonds that are subject to higher volatility, according to S&P Global. The report read: Tether is headquartered in El Salvador and is regulated according to the National Commission of Digital Assets (CNAD), which has looser requirements for reserve assets backing stablecoins, S&P said. Read more
Bitcoin and select altcoins have started a recovery, but higher levels are likely to attract solid selling by the bears. Is $100,000 BTC's next stop? Key points: Bitcoin has been facing selling near $89,000, but the bulls have not given up much ground, suggesting a rally to $93,500. Several major altcoins have started a recovery, but they are likely to face selling at higher levels. Read more
The fund, which could be listed on NYSE Arca, would the first ETF tied to a privacy coin, following several other listings from Grayscale and asset managers. Grayscale is aiming to convert its Zcash Trust into a spot exchange-traded fund in a move that could mark one of the first investment vehicles linked to a privacy coin. In a Wednesday filing with the US Securities and Exchange Commission, Grayscale submitted a Form S-3 registration statement, signaling its intention to convert its fund tied to Zcash (ZEC) into a spot ETF. The move followed Grayscale’s launch of other spot ETFs linked to cryptocurrencies, including Bitcoin (BTC), Ether (ETH), and Dogecoin (DOGE), and XRP (XRP). The simplified form with the regulator could allow Grayscale to list the Zcash ETF on the NYSE Arca. According to data from Nansen, the price of ZEC increased by more than 50% in the past 30 days and by 1,050% in the past 12 months, reaching $519.62 at the time of publication. Read more
The deal for FTX-linked MIAXdx puts Robinhood and Susquehanna in direct competition with Kalshi and Polymarket as interest in prediction markets heats up. A company with ties to the defunct cryptocurrency exchange FTX is being acquired by Robinhood Markets and Susquehanna International Group as part of a push into prediction markets. According to a Reuters report on Tuesday, Robinhood and Susquehanna will acquire a 90% stake in LedgerX, one of the few solvent companies tied to FTX following its bankruptcy filing in 2022. The move came just hours after Robinhood announced the launch of a futures and derivatives platform with options for prediction markets. Robinhood initially reported the acquisition of a majority stake in MIAXdx, an exchange and clearinghouse licensed by the US Commodity Futures Trading Commission. MIAXdx, previously known as LedgerX, was acquired by Miami International Holdings (MIAX) for $50 million in 2023 amid FTX’s bankruptcy. MIAX will retain a 10% stake in the firm, according to Reute...
Fiat currency inflation, US dollar shortages, and global competition are prompting the government to integrate cryptocurrencies. The government of Bolivia will integrate cryptocurrencies and stablecoins into the financial system in a push to modernize the country’s economy, Bolivia’s economic minister, Jose Gabriel Espinoza, announced on Tuesday. Banks will be allowed to custody crypto on behalf of clients, enabling digital currencies to function as a legal tender for savings accounts, credit products, and loans, according to Reuters. “You can’t control crypto globally, so you have to recognize it and use it to your advantage,” Espinoza said. Read more
The SEC’s 2025 agenda proposes clearer rules, safer market practices and stronger oversight for the crypto ecosystem, potentially influencing regulations worldwide. For years, US crypto firms operated under overlapping rules from the SEC, CFTC, FTC and FinCEN. The revised 2025 plan signals Washington’s intent to build a more flexible and structured framework tailored to digital assets. The SEC is moving toward a model centered on innovation, capital formation, market efficiency and investor protection. This marks an acknowledgment that crypto requires dedicated rules rather than adaptations of older regulations. The plan may lead to exemptions, safe harbors, DLT-specific transfer agent rules and crypto market structure amendments. These steps could help integrate digital assets into traditional market infrastructure. Read more
Bitcoin faces downside risks as a bear flag breakdown targets $77,400, while tensions between Strategy and MSCI can add new pressure on the BTC price. Bitcoin (BTC) is showing fresh downside risks as a deepening standoff between corporate Bitcoin holder Strategy (MSTR) and global index provider MSCI collides with a weakening technical structure. Key takeaways: BTC risks a slide toward $77.4K if the bear flag breaks down. Read more
Kevin Hassett, a White House economic adviser, has reportedly emerged as a leader among the Trump administration’s short list to replace Jerome Powell. US President Donald Trump is slated to choose a new Federal Reserve chair by Christmas, and the frontrunner, Kevin Hassett, could be a boon for the crypto industry. Hassett is a White House economic adviser who has reportedly emerged as a strong candidate for the Fed chair position. He is the director of the National Economic Council and oversaw the digital asset working group directed by the White House earlier this year. Trump has been trying to increase his administration’s control over the Federal Reserve, the country’s central bank, thereby expanding the White House’s influence over monetary policy. Read more
Bitcoin fielded new predictions of a short squeeze as price kept up pressure on key resistance at $88,000, while US stocks went higher. Bitcoin (BTC) hovered near $87,000 at the Wednesday Wall Street open as analysts eyed short liquidations. Key points: Bitcoin liquidity conditions analysis predicts a return toward $90,000 next. Read more
Despite Ether’s drop below $3,000, data suggested that ETH price could see a sustained recovery over the next few weeks, as long as the $2,800 support level held. Ether (ETH) price is up 11% since plunging below the $3,000 mark on Nov. 22, reclaiming key support levels. Analysts say that increased demand from institutions, coupled with the end of quantitative tightening, could lead to a recovery toward $3,600 next. Key takeaways: Ethereum demand is recovering along with ETF inflows. Read more
Learn how falling inflation influences Bitcoin’s identity, investor sentiment and price patterns while highlighting consistent trends across past macro cycles. Inflation sits at the center of modern economic cycles. When inflation is high, central banks raise interest rates, reduce liquidity and push investors toward safer assets. When inflation falls, liquidity usually improves, risk appetite returns and markets start to focus on future growth. In this environment, Bitcoin (BTC) serves two distinct purposes: Read more
Santiago Roel Santos argues that crypto lacks true network effects and is overpriced as a result, but other experts counter that L1 network effects are present. Santiago Roel Santos, founder and CEO of crypto investment company Inversion Capital, said cryptocurrencies are not subject to positive network effects, but other experts disagree. In a recent Substack post, Santos wrote that “crypto is priced for network effects it doesn’t have.” He also pointed to the network effect valuation system, Metcalfe’s Law, saying that it “doesn’t justify crypto’s valuation” and instead “exposes it.” Santos claimed that many of crypto’s network effects are adverse, due to congestion, such as higher fees, a worse user experience, and slower transactions. “Facebook didn’t get worse when it added 10 million users,“ he said. Read more
Sam Altman-backed digital ID project World halts Thai operations after authorities cite violations of the WLD token exchange and the Personal Data Protection Act. Authorities in Thailand have officially requested World, a Sam Altman-backed digital identity project, to suspend operations and delete all user identification data. Thailand’s Economic and Social Development Board, the country’s strategic planning agency, has ordered World to delete iris scans of 1.2 million local users, according to a statement by the Ministry of Digital Economy and Society (MDES) on Monday. The order detailed that World’s iris scanning in exchange for its Worldcoin (WLD) token violated Thailand’s Personal Data Protection Act, which governs the collection, use and disclosure of personal data. Read more
A car accident left Trevor Koverko with brain injuries. But his fortunes turned around when Vitalik handed him the Ethereum white paper. Not everyone can say they were there when history was being made. But former ice hockey star Trevor Koverko, on the mend from a serious car accident, witnessed it firsthand in his hometown. I was at a meet-up in Toronto and this guy named Vitalik was handing out documents, which turned out to be the Ethereum whitepaper. We had a cluster of really important high-profile people that came out of that time in Toronto. Vitalik, Joe Lubin and Charles Hoskinson, for example. In Canada, ice hockey is its own kind of subculture. Koverko had fallen in love with the sport at a young age, and by the time he was a teen, he was competing at the semi-pro level and moved away from home, playing to crowds of 10,000. Read more
Polygon’s co-founder said even small merchants and drivers recognized MATIC, but many struggle to locate POL since the token’s rebrand. Polygon co-founder Sandeep Nailwal spurred public discussion about the project’s token branding, asking the community if the network should consider reverting its ticker from POL to MATIC. On Wednesday, Nailwal said that while he personally thinks that they should stick to POL, he continues to hear feedback that the original MATIC ticker had stronger recognition, especially among retail users who are now confused about the asset’s whereabouts. “The counter-argument I keep getting is: the guy in the Philippines running a sari-sari store, or an Uber driver in Dubai, knew MATIC… and now he has no idea where it went,” he wrote. Read more
Strategy said it has a 70-year dividend runway even after Bitcoin’s slide, rolling out a new credit rating metric to ease fears over DAT liquidation risks. Michael Saylor’s Strategy is attempting to calm investor concerns about its balance sheet after the recent Bitcoin market downturn and a sharp pullback in digital asset treasury (DAT) stocks. Strategy, the world’s largest corporate Bitcoin (BTC) holder, has rolled out a new credit rating dashboard based on the company’s preferred stock notional value, and claims to have another 70 years’ worth of dividend payment runway to service its debt, even if Bitcoin’s price remains flat. “If $BTC drops to our $74K average cost basis, we still have 5.9x assets to convertible debt, which we refer to as the BTC Rating of our debt. At $25K BTC, it would be 2.0x,” said Strategy in a Tuesday X post. Read more5759 items