Harvard University expanded its Bitcoin ETF holdings by 257% in the third quarter, making the iShares Bitcoin Trust its largest disclosed position with $442.8 million as of September 30.

According to Matt Hougan, Bitwise CIO, Harvard simultaneously increased its gold ETF holdings by 99% to $235 million, allocating to Bitcoin at a 2-to-1 ratio relative to gold.

The $443 million position represents approximately 0.75% of Harvard’s $57 billion endowment, ranking the institution among the top 20 largest holders of the BlackRock-managed fund.

Timing Proves Problematic as Bitcoin Tumbles

Harvard’s aggressive Bitcoin accumulation came right before a sharp market correction that has erased substantial value from its cryptocurrency holdings.

Bitcoin has dropped more than 20% since the third quarter ended, falling from $114,000 to around $92,000.

The timing suggests Harvard could face a 14% loss on its third-quarter purchases in the best-case scenario, assuming shares were bought at July’s low point, which represents an $89 million paper loss on the recent position alone.

While the losses remain a fraction of Harvard’s massive endowment, the university’s annualized returns have lagged behind some Ivy League peers over the past decade, according to WSJ.

Harvard posted an 8.2% return ranking ninth out of 10 elite schools in a Markov Processes International comparison. For the year ending June 30, Harvard reported an 11.9% gain but trailed MIT’s 14.8% and Stanford’s 14.3%.

Stanford finance professor Joshua Rauh explained in an interview with The Harvard Crimson that “investors often seem to view both bitcoin and gold as hedges against a collapse of the international monetary system in general, and against a loss of the US dollar in particular.”

However, he cautioned that “the extent to which either actually protects investors from these forces is uncertain and scenario-dependent.“

Academic Skepticism Meets Institutional Validation

Harvard’s substantial Bitcoin allocation stands in stark contrast to earlier predictions from its own economics faculty.

Kenneth Rogoff, a Harvard professor and former IMF chief economist, stated in 2018 that Bitcoin would more likely trade at $100 than $100,000 within a decade.

“I think bitcoin will be worth a tiny fraction of what it is now if we’re headed out 10 years from now,” Rogoff told CNBC, arguing that removing money laundering and tax evasion would leave Bitcoin with “very small” transaction uses.

Rogoff recently acknowledged his misjudgment in his new book “Our Dollar, Your Problem,” writing, “I was far too optimistic about the US coming to its senses about sensible cryptocurrency regulation.”

He added that he “did not anticipate a situation where regulators, and especially the regulator in chief, would be able to brazenly hold hundreds of millions (if not billions) of dollars in cryptocurrencies seemingly without consequence given the blatant conflict of interest.“

Despite growing institutional adoption, criticism of Harvard’s Bitcoin investment has intensified.

MarketWatch columnist Brett Arends called the investment an “environmental catastrophe,” noting that Bitcoin’s global computing network uses more energy than Thailand or Poland annually.

Meanwhile, Stanford professor Darrell Duffie also expressed surprise at the investment, stating, “Bitcoin does not pay dividends and has limited uses as a payment instrument.“

Bitcoin’s Path Forward Remains Uncertain

Bitcoin is struggling to find direction amid ETF outflows and weakening market sentiment, creating uncertainty about whether it can reclaim the $100,000 threshold.

More than $2.7 billion has left Bitcoin ETF products over the past five weeks.

Speaking with Cryptonews, Arthur Azizov, Founder and Investor at B2 Ventures, described the current situation as “a market that has lost its anchor at the exact moment it needed stability.“

He noted a disconnect with traditional markets, pointing out that “the S&P 500 is up more than 16% this year, while Bitcoin is down about 3%.“

Azizov identified key resistance levels ahead, explaining that “a large share of Bitcoin is currently held at a loss, so each move toward $96,000–$100,000 meets selling from holders who want to exit at break-even.”

He added that approximately $3.35 billion in Bitcoin options expire around a $91,000 area of interest, making traders cautious.

“Only a strong move above $100,000 could flip the script, restore confidence, and open the way toward $120,000+ level,” Azizov stated.

“If that fails, a deeper pullback to the broad $82,000–$88,000 zone may be needed to attempt to break the $100k ceiling once again.“

The post Harvard Bets Big on Bitcoin With $443M Stake, Outpacing Gold 2-to-1 appeared first on Cryptonews.

British Columbia has secured a landmark victory under its unexplained wealth order (UWO) regime, after the province successfully seized more than $1 million in cash, gold and luxury items tied to QuadrigaCX co-founder Michael Patryn.

The Supreme Court of British Columbia granted the forfeiture after Patryn chose not to contest the action, clearing the way for authorities to liquidate 45 gold bars, multiple high-end watches and roughly $250,000 in cash originally seized during an RCMP investigation.

The order marks one of the most significant applications of the province’s new anti–money laundering tools.

Gold Bars, Rolexes and a .45 Pistol Found in Patryn’s Safety Deposit Box

Court filings show the seized items were discovered in a CIBC safety deposit box in Vancouver in 2021, including three one-kilogram gold bars and 42 smaller bars.

Officers also recovered Rolex and Chanel watches, rings, jewelry, identification documents, and even a Ruger 1911 .45-caliber pistol with loaded magazines.

At current prices, the gold alone is valued at more than $800,000.

The civil forfeiture office alleged the assets were purchased using QuadrigaCX customer funds, money that investigators say was misappropriated during the years leading up to the exchange’s infamous collapse.

The unexplained wealth order required Patryn to demonstrate legitimate sources for the assets, but while he initially challenged the investigation on constitutional grounds, he ultimately withdrew his response and did not appear when the province sought judgment.

QuadrigaCX, once Canada’s largest cryptocurrency exchange, imploded in 2019 after CEO Gerald Cotten died in India and it emerged that more than $169 million in customer assets were missing.

Regulators later concluded that the platform had effectively become a Ponzi scheme by 2016, with new deposits used to fulfill withdrawal requests while Cotten allegedly siphoned funds to finance personal expenses.

Patryn’s Criminal Past Resurfaces in QuadrigaCX Forfeiture Case

Investigators have long alleged that Patryn, also known by several aliases including Omar Dhanani, played a central role in the exchange’s operations and benefited from client funds.

His criminal history was cited in the forfeiture filings. In 2005, under the name Omar Dhanani, he was convicted in the US for operating an online identity-theft and money-laundering service and later deported to Canada.

The province’s win now triggers a separate review to determine whether any of the recovered assets can be directed to compensate QuadrigaCX creditors.

Claimants received just 13 cents on the dollar when bankruptcy proceedings concluded in May 2023.

Patryn’s current whereabouts remain uncertain, though the civil forfeiture suit lists his last known location as Thailand.

In 2023, QuadrigaCX announced plans to start the “interim distribution” of funds to creditors, despite only a fraction of the missing funds being recovered.

The post British Columbia Seizes $1M in Cash and Gold Linked to QuadrigaCX Co-Founder appeared first on Cryptonews.

Argentina’s central bank is reportedly weighing a move that could redraw the country’s crypto landscape, drafting rules that would let traditional banks offer trading and custody services for digital assets after years of leaving that business to exchanges and fintech platforms.

Local outlet La Nacion reported Friday that the officials are working on a regulation that would open the door for lenders to handle cryptocurrencies directly, although they have not committed to a timetable or disclosed key details.

One exchange operating in the country believes the measure could win approval around April 2026, signalling a relatively near-term shift if the process stays on track.

The idea has circulated quietly for months among exchanges, people close to regulators and a handful of bankers. It fits with a broader push inside government circles to ease restrictions on crypto use and bring part of the activity that already happens at scale into the formal financial system.

Crypto Demand Surges As Argentines Seek Stability Amid Inflation

For Argentina, the stakes are higher than in most markets. Years of inflation and currency controls have pushed savers toward dollars and digital assets, and crypto has become a parallel store of value for many households.

By one estimate, Argentines are now six times more likely to use crypto on a daily basis than residents of the average Latin American country.

Allowing banks to trade and hold crypto on behalf of clients could give that demand a new channel. Analysts say regulated lenders can offer familiar on-ramps, clearer disclosures and more robust compliance checks, which together may make digital assets feel less like a grey market product and more like a standard investment option.

The real impact, they caution, will depend on how the central bank draws the lines on issues such as custody standards, capital treatment and which tokens qualify.

Libra Scandal Casts A Long Shadow Over Argentina’s Crypto Debate

The debate is unfolding in the long shadow of the Libra meme coin scandal, a blow that shook confidence in Argentina’s crypto scene and raised uncomfortable questions about political promotion of speculative tokens.

That episode erupted in Feb. 2025 when President Javier Milei, known for his libertarian economic agenda and enthusiasm for digital assets, posted on X endorsing the Solana-based Libra token as a tool for “market-driven innovation” and economic liberation from the peso.

The coin’s price raced from fractions of a cent to more than $4.50 within hours of his post, lifting its fully diluted valuation to around $4.6b before collapsing more than 96% in what investigators described as a classic rug pull by its creators at Kelsier Ventures.

Thousands of investors, many of them everyday Argentines who took the president’s message as a green light, were left holding the bag, with losses estimated between $100m and $251m.

Argentina’s central bank has swung between tolerance and crackdowns in the past, at one point barring unregulated crypto services in the banking system, and any turn toward openness would mark a significant change in stance.

For now, officials appear to be testing whether they can bring a fast growing market into the tent without importing too much of its volatility into the traditional financial system.

The post Argentina Weighs Allowing Traditional Banks To Trade Cryptocurrencies appeared first on Cryptonews.

Key takeaways

• ETH is up 3% in the last 24 hours and is now trading above $3,100.
• Whales are optimistic of a price surge in the near term.

Whales open bullish positions on Ether

Ether, the second-largest cryptocurrency by market cap, is up 3% in the last 24 hours and is now trading above $3,100 per coin. The rally comes as the broader cryptocurrency market recovered from the slight dip on Sunday.

In addition to that, Ethereum whales are opening long positions as they are optimistic that Ether’s price will surge higher in the near to medium term. The whales are optimistic of a price surge thanks to the upcoming Fed rate decision on Wednesday, with the apex bank expected to reduce its borrowing benchmark by 25 basis points. 

Data obtained from Lookonchain reveals that three whales have opened long positions, totaling 136,433 ETH, worth about $425.98 million.

One whale, BitcoinOG (1011short), has a long position of $169 million in ETH, while Anti-CZ opened another position worth $194 million. The third whale, pension-usdt.eth, opened a long position of 20,000 ETH, worth approximately $62.5 million at current rates.

In addition to these three, other whales have also opened long positions on Ether, with many of them predicting that the cryptocurrency’s price could rally to $4k in the near to medium term. 

Furthermore, BitMine continues to add more Ether tokens to its treasury. Last week, the company added $199 million more ETH, bringing its total holdings to 3.73 million ETH ($13.3 billion), making it the largest corporate holder of ETH. 

Ether could surge to $4k amid growing demand

The ETH/USD 4-hour chart has flipped bullish and efficient as Ether has reclaimed the $3,100 mark at press time, ETYH is trading above $4,100, and could rally higher if the bullish trend continues.

The momentum indicators are bullish, suggesting that buyers are currently in control. The RSI of 62 shows that ETH is currently bullish and could enter the overbought region if the recovery continues. The MACD lines are also within the positive territory, reinforcing the bullish bias.

If the recovery continues, ETH could surge past Thursday’s high at $3,240 with a decisive close, with the next resistance level at the 200-day EMA at $3,459. However, failure to overcome the $3,240 resistance could see Ether drop below $3,000 and retest the November 21 low of $2,623.

The post Ethereum price forecast: Ether eyes $4k as whales open long positions appeared first on CoinJournal.

• Mono Protocol and Nexchain lead 2025 crypto presales as investors seek early-stage value.
• Mono’s cross-chain design boosts speed, reliability, and interest as its presale tops $3.85 million.
• Nexchain’s clear roadmap and revenue-share model keep it a top pick among crypto presales.

Macro conditions remain uncertain, and many investors are looking toward early blockchain opportunities for clearer direction.

This shift has pushed more attention toward the crypto presale market, where early pricing and strong fundamentals often create interest during unstable periods.

As a result, several presale crypto projects now appear more frequently on radar lists for 2025.

Mono Protocol and Nexchain are two names gaining consistent visibility within cryptocurrency presales as buyers search for the next potential big presale crypto with real utility across Web3 and DeFi.

Mono Protocol’s cross-chain advantage in a growing crypto presale market

Mono Protocol sits at the center of rising attention within the crypto presale space as early buyers look for the next potential big presale crypto with clear execution.

It is powered by Privy, which brings secure and smooth user authentication into Mono’s unified cross-chain experience.

Privy handles privacy-focused onboarding while Mono manages the rest of the flow.

Users interact with one balance, one transaction path, and consistent execution across supported networks.

This structure allows Mono to support Web3 applications without unnecessary friction.

It removes the layered complexity that often slows user adoption, helping developers build products that operate reliably.

Mono handles routing, chain logic, and transaction management behind the scenes.

Developers can focus on building instead of patching together cross-chain infrastructure.

Its performance targets focus on three main areas.

Speed increases up to 40% faster than traditional cross-chain paths while keeping security intact.

Reliability is strengthened through guaranteed execution that prevents failed or reverted transactions.

Costs are reduced because routing avoids frontrunning, unnecessary price impact, and value loss.

Mono continues to widen interest across crypto presales. The presale ICO has raised $3.85M and is now in Stage 20 at a $0.0575 price.

With a planned launch value of $0.500, early participation positions it among top presale crypto discussions for 2025.

Nexchain’s steady progress keeps it on top presale crypto lists

Nexchain remains a consistent part of the crypto presale list due to its structured rollout and ongoing updates.

Its current presale crypto stage is priced at $0.116, with a confirmed listing value of $0.3.

This difference draws interest from buyers who track the best presale crypto 2025 entries across blockchain ecosystems.

The project has raised $12.3M so far, adding to its visibility in cryptocurrency presales moving into 2026.

Its roadmap continues to roll out new features that support stability and long-term planning.

Nexchain also distributes 10% of gas fee revenue to participants who store their NEX in a non-custodial wallet.

Distribution adjusts based on real network activity, giving holders a clear view of how value moves through the chain.

Many crypto presale projects highlight different reward systems, yet Nexchain’s model focuses on transparent delivery tied directly to system usage.

This clarity keeps it within top presale crypto observations for investors who follow Web3 growth sectors.

Weekly Mono rewards strengthen engagement across Web3 communities

Mono Protocol continues to build its presence in the presale ICO market through consistent engagement.

This week’s community quest highlights a straightforward structure that encourages ongoing participation.

Buyers complete the task by purchasing $300 of MONO, promoting Mono Protocol through social channels, and claiming a 50% promo code for their next purchase.

This path invites users to interact with the platform while reinforcing activity across the ongoing crypto presale phase.

The Rewards Hub remains the center of these actions. It collects social quests, referral tasks, and presale challenges in one place.

Each completed action contributes to a more connected user experience within the Web3 environment.

This approach aligns with Mono’s goal of reducing friction and creating simple pathways across DeFi networks.

Many cryptocurrency presales struggle with user retention, but Mono structures its flow to keep the process clear and easy to follow.

The weekly reward keeps users active while showcasing the broader movement surrounding one of the top presale crypto entries of 2025.

Conclusion: Early blockchain plays gain traction as investors reposition

Investor attention is shifting toward early blockchain opportunities as uncertainty continues to influence broader markets.

This has increased visibility for the crypto presale category, where early pricing and structured execution often guide decision-making.

Mono Protocol and Nexchain both offer clear development paths that keep them active on 2025 radar lists.

As Web3 adoption expands, these early-stage presale ICO projects remain part of ongoing conversations around blockchain growth and next potential big presale crypto observations across the year.

Learn more about Mono Protocol:

Website: https://monoprotocol.com/

X: https://x.com/mono_protocol

Telegram: https://t.me/monoprotocol_official

LinkedIn: https://www.linkedin.com/company/monoprotocol/

The post Macro uncertainty pushes investors toward early-stage Blockchain plays: Mono Protocol joins Nexchain on 2025 presale radars appeared first on CoinJournal.

• The BNB token traded to highs of $910 with a slight bounce.
• Binance has secured full licensing as a digital assets platform in Abu Dhabi.
• Momentum could help bulls push the BNB price to above $1,000.

BNB price saw a slight uptick early Monday, retesting highs of $910.

This came as Binance, the world’s leading digital asset exchange, revealed it had achieved a landmark regulatory approval.

The token’s price increased by about 2% to $912 and looked poised for further gains as the broader market targeted fresh momentum.

As Binance celebrates its milestone, could the native token reclaim the coveted $1,000 mark?

Binance secures full license status in the UAE

One of the top crypto news stories today is from Binance, the leading crypto exchange by volume.

The exchange announced it had become the first global digital asset trading platform to secure full license status in Abu Dhabi.

Specifically, Binance has secured a comprehensive suite of licenses from the Financial Services Regulatory Authority (FSRA).

The licenses are issued under the regulatory purview of the Abu Dhabi Global Market (ADGM).

The milestone encompasses approvals for spot trading, derivatives, clearing, custody, and broker-dealer services, Binance said in a blog post. According to details, the licenses take effect on January 5, 2026.

“Achieving regulatory status through ADGM’s respected framework reflects our deep commitment to compliance, transparency, and user protection,” said Binance co-chief executive officer Richard Teng.

He added:

“ADGM is one of the most respected financial regulators globally, and holding an FSRA license under their gold standard framework shows that Binance meets the highest international standards for compliance, governance, risk management, and consumer protection.”

This regulatory milestone positions the UAE as a burgeoning hub for compliant cryptocurrency activities, enhancing Binance’s credibility amid growing institutional interest.

BNB price gains amid volume surge

As noted, the positive regulatory news has catalyzed a slight uptick in BNB’s price.

On December 8, 2025, BNB traded to highs of $910, up nearly 2% as bulls pushed from lows of $872.

The 24-hour gains in the token’s price came amid a substantial trading volume of $1.93 billion, up more than 38% in the time frame.

BNB price recently rose above $926 as Bitcoin and top altcoins retested key resistance levels.

Gains came after the altcoin tested support near $800 on Dec. 1.

However, a strong bounce over the next two days allowed buyers to break above $900.

The token is eyeing a third straight green candle on the daily chart, and the next target will be $1,000.

Analysts say BNB could see fresh momentum, with the anticipated boost in institutional trust following the ADGM license approval key to this.

The token plays a major role as a foundational asset within the BNB Chain ecosystem, including for transactions and governance.

Overall traction amid regulatory clarity adds to its potential for growth.

The post Binance hits major regulatory milestone in Abu Dhabi; BNB price gains appeared first on CoinJournal.

• AllScale (allscale.io) today announced the completion of a $5 million Seed round led by YZi Labs.
• The company is also an official ecosystem partner of BNB Chain.
• The company is also backed by early investors, including Amber Group and Draper Dragon.

New York, United States, December 8, 2025 — AllScale (allscale.io), the pioneering self-custody financial platform for global microbusinesses, today announced the completion of a $5 million Seed round led by YZi Labs (through EASY Residency Season 2), Informed Ventures, and Generative Ventures, with participation from other prominent institutional investors.

The company is also an official ecosystem partner of BNB Chain.

Building the “super individual” economy with a veteran team

AllScale is defining a new category of digital finance: a platform where anyone from anywhere can send or receive stablecoin payments in minutes without a traditional bank account or complex crypto keys.

The company’s mission is to provide the underlying payment infrastructure for the next generation of “super individuals” and small and medium-sized businesses (SMBs).

The company was founded by a team of veterans with deep expertise in distributed systems, compliance, payments, and growth.

AllScale’s founding members bring extensive experience from Binance, OKX, Kraken, Block, Capital One, TikTok, Amazon, Dell, HP, and more.

The company is also backed by early investors, including Amber Group and Draper Dragon.

Their shared vision is to build financial tools that match the speed, accessibility, and scalability of the AI era.

“Our investment is driven by early indicators of strong product-market fit, supported by organic traction and solid retention metrics,” stated YZi Labs in its announcement regarding the EASY Residency Season 2 cohort.

“AllScale is well-positioned to capture market share by combining the speed and transparency of stablecoins with a user experience aligned to the operational and compliance needs of modern businesses.”

Serving global microbusinesses as a non-custodial platform

Existing traditional payment platforms often impose high fees, long settlement times, and strict account reviews that exclude crypto-native or cross-border companies.

AllScale addresses these challenges through proprietary infrastructure that enables instant stablecoin transactions, secure self-custody wallets, and professional invoicing tools.

By leveraging account abstraction and LLM-enabled financial copilots, AllScale empowers SMBs to access stablecoin-based invoicing, checkout, and payouts across borders.

The goal is to make blockchain technology invisible, helping businesses complete the “last mile” of stablecoin adoption seamlessly.

“We believe stablecoins unlock new borderless financial services for SMBs, the world’s most underserved segment,” noted David Yin, Partner at Informed Ventures.

“A stablecoin-powered non-custodial neobank finally gives these SMBs the speed, control, and access to advanced financial products that were previously reserved for large enterprises. AllScale has the right team and experience to deliver this.”

A new financial layer for the AI and freelance economy

With over 1.4 billion adults still unbanked and millions of freelancers facing payment barriers, AllScale provides a critical solution for cross-border income and commercial activity.

The platform has already established partnerships with Africa’s leading freelancer communities, and plans to expand to Latin America next quarter.

AllScale’s approach combines blockchain transparency with a consumer-friendly interface. Its passkey-based wallet eliminates the complexity of seed phrases while maintaining full user control.

Furthermore, its multi-chain “paymaster” sponsorship architecture ensures low latency and zero gas costs for global transactions.

AllScale’s wallet is currently integrated into BNB Chain and other high-efficiency Layer 2 networks.

“AllScale is redefining the standard for crypto-native banking, demonstrating a rare depth of technical excellence and regulatory clarity,” said Will Wang, Partner at Generative Ventures.

“We’re excited to partner with the team as they bring the next generation of digital banking to a global audience.”

About AllScale

AllScale is a self-custody stablecoin neobank enabling instant, secure, and borderless payments for global microbusinesses including content creators and freelancers.

By using account abstraction and LLM-enabled financial copilots, AllScale empowers SMBs to access stablecoin-based invoicing, checkout, and payout across borders. Useful links

Website: https://www.allscale.io/

X: https://x.com/allscaleio

LinkedIn: https://www.linkedin.com/company/allscaleinc/

Media contact

Leo Wang

Director at AllScale

hi@allscale.io

The post AllScale raises $5M seed led by YZi Labs to build world’s first self-custody stablecoin neobank appeared first on CoinJournal.

XRP’s price has continued to chop, trading sideways, which has impacted the price of the U.S. spot ETFs that provide exposure to the altcoin. Canary Capital’s XRP fund has crashed 20% since its launch, although this fund remains the largest by assets under management (AuM). 

XRP’s Sideways Price Action Leads To Spot ETF Crash

The XRP price has continued to trade within a tight range, just above the psychological $2 level, sparking bearish sentiment among investors. The altcoin is down over 10% in the last month, around the time the first spot XRP ETF, Canary’s fund, launched. This bearish price action has notably contributed to a price crash for Canary’s XRPC fund. 

TradingView data shows that Canary’s XRP ETF is down 20% since its launch on November 13. XRPC also dropped almost 10% last week amid choppy price action. Canary’s fund has also likely crashed due to increased competition from three other spot funds that launched after it. This has led to a slowdown in its inflows since these funds launched. 

Meanwhile, these funds track the spot XRP price, which also explains Canary’s XRPC crash. XRP has mirrored Bitcoin’s price action amid concerns that the crypto market may already be in a bear market. XRP whales also look to be bearish at the moment, as Santiment data shows a drop in whale transactions from a recent high recorded in November. 

However, despite this bearish sentiment, with the crypto market currently in a state of fear, the XRP ETFs have continued to record daily net inflows. SoSo Value data show that these funds have been on a 16-day net inflow streak since Canary’s XRP fund launched on November 13, and they have yet to record a net outflow day. 

Canary’s XRP ETF, which has suffered a 20% price crash, is currently the largest spot XRP fund with $364 million in assets under management. Grayscale’s GXRP is second with $211 million, while Bitwise and Franklin Templeton are third and fourth. As a group, these XRP funds are about to hit $1 billion in assets under management, with $861 million in total net assets. 

Some Positives For The Altcoin

Santiment data show that XRP exchange outflows have outweighed inflows in recent times. This is a positive as it indicates that more investors are accumulating than selling. Exchange outflows typically represent moves for long-term holding, especially in anticipation of higher prices. 

In an X post, Santiment mentioned that the XRP Ledger is seeing a fascinating trend of whale and shark wallets shrinking in number but continuing to grow in coins held. The on-chain analytics platform noted that there are 20.6% fewer 100 million XRP wallets, but that these wallets, as a group, still own a 7-year high 48 billion coins. As such, the existing 100 million XRP wallets are doubling down on their accumulation efforts and making up for the shrinking number of wallets. 

At the time of writing, the altcoin’s price is trading at around $2.07, up in the last 24 hours, according to data from CoinMarketCap.

According to former BitMEX CEO Arthur Hayes, battles over the US debt ceiling create clear cash swings that move markets. When the Treasury spends down its main checking account — the Treasury General Account, or TGA — new dollars enter the system and lift risky assets.

Later, when the Treasury refills the TGA by selling debt, cash is pulled back out and pressure returns to stocks and crypto, he said.

Hayes points to 2023 as a clear example, when a large pool of funds at the Fed’s reverse repo facility — about $2.5 trillion — was available to be drawn back into markets.

Market Metrics And Recent Moves

Traders can see the effects in price action. Bitcoin’s recent fall toward the $80,000 area followed a stretch of tighter liquidity, and the rebound to above $91,000 has many investors asking whether the sell-off marked a cycle low.

The crypto market gained ground Monday, with total capitalization rising to a little over $3 trillion, up 1.2% in the last 24 hours. Bitcoin climbed to $92,120, a 1.50% increase on the day and almost 6.5% higher over the week.

Ethereum traded around $3,160 after a 4% daily rise and an 11% weekly jump. Reports have disclosed that these moves come as traders watch big-dollar flows tied to US Treasury operations and central bank balance sheet moves.

Smaller gains in the last day sit against larger weekly returns for several top tokens, showing that swings remain wide but that buying interest has reappeared.

Why 2025 Looks Different

Based on reports, Hayes says 2025 is not the same as 2023. The reverse repo balances that helped fuel the earlier rally are largely gone, and liquidity tightened by almost $1 trillion between July and late 2025 as the Treasury issued debt and the Fed ran quantitative tightening.

That drought of available cash was a headwind for risk assets and helped push prices lower. The mechanics are simple: less cash chasing assets tends to reduce bids and widen price drops.

The liquidity story is not limited to crypto. Stocks, gold, and property responded to the same flow shifts during the prior cycle.

Hayes estimates that about $2.5 trillion of liquidity was effectively redeployed from Fed facilities into markets in 2023, amplifying gains across asset classes. When that source was absent in 2025, selling pressure intensified and volatility rose.

Hayes says the environment has shifted in a positive way. The Fed has put quantitative tightening on hold, liquidity pressure in the Treasury market is calming down, the TGA is close to where officials want it, and banks are starting to open up their lending taps again.

He views the slide toward $80,000 as the cycle low and expects upward pressure as cash conditions improve. According to his view, these factors together create the environment for renewed upside.

Featured image from Unsplash, chart from TradingView

Michael A. Gayed, portfolio manager at Toroso Investments and publisher of macro research service The Lead-Lag Report, has put the XRP community on alert after a series of posts teasing a major related initiative.

Gayed Teases Yen-XRP Strategy

Gayed, a CFA charterholder known for his bearish, risk-focused market commentary, first flagged the cryptocurrency on December 4, posting: “Might do something related to XRP.” A day later he tied that tease directly to his broader macro outlook, writing: “You know how I always say we’re fucked? It’s time to find a way to profit from it. Might involve the Yen. And XRP.”

On December 6, he indicated that his interest in the token would not be a one-off remark, stating: “Going to do a long form post on XRP shortly.” In a separate message the same day he warned followers, “Might get annoying as fuck about XRP,” and urged them: “Put your notifications on for my account.”

The tone shifted further on December 7 from exploration to concrete signaling. Responding to speculation that he was chasing social metrics, Gayed insisted: “It’s not engagement farming. I’m working on something big. Big hint will be revealed this Thursday.” Without specifying whether he is referring to research, a trading strategy, or a product, he made clear that the token will be central to whatever he is preparing.

In a final note to close out that sequence, Gayed addressed the community directly: “Goodnight XRP army. I wrote this song. It’s yours now.” The song, shared with his followers, has since been circulated by prominent accounts, cementing his outreach to one of crypto’s most vocal retail bases.

Goodnight XRP army.

I wrote this song.

It’s yours now. pic.twitter.com/7EPjl65Twh

— Michael A. Gayed, CFA (@leadlagreport) December 7, 2025

What makes this notable is not just the content of the posts, but who is posting them. Gayed operates at the intersection of traditional asset management, ETF work and cross-asset macro research. His Lead-Lag framework is built around intermarket signals and risk regimes, and he has repeatedly warned of underpriced systemic risk in global markets.

Against that backdrop, the line “Might involve the Yen. And XRP” suggests he is working on a structured macro thesis that somehow connects currency dislocations, his negative outlook and the token. However, he has not yet disclosed any specific trade structure, allocation decision or product plan.

As of now, the verifiable facts are limited: Gayed has promised a long-form analysis, has stated he is “working on something big,” has explicitly rejected the idea that this is “engagement farming,” and has linked the token and the yen to his long-standing message that markets are in a precarious state. The exact nature, timing and market impact of his planned initiative remain unknown.

Until he publishes the promised long-form piece or a formal announcement, holders and broader market participants only know one thing for sure: a high-profile macro and ETF strategist has decided to make XRP a central theme of his upcoming work—and he wants everyone watching when he does.

At press time, XRP traded at $2.089.

Jameson Lopp’s wrench attack data shows physical assaults on crypto holders surging in 2025, forcing a reckoning over whether self‑custody is worth the physical risk.

Bitcoin led the $716 million of inflows to crypto ETPs last week, while Chainlink saw record gains, accounting for more than 50% of its AUM.

Cardano founder Charles Hoskinson has shared new insights into the development and rollout of the ecosystem’s privacy-focused project, Midnight. Following the launch of Midnight’s native token, NIGHT, on Cardano, Hoskinson featured on the Gokhshtein News Network to outline the project’s technical roadmap, phased deployment strategy, and the ecosystem growth expected to follow.

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Cardano tests key resistance levels with significant liquidation data showing pressure on long positions. Cardano (ADA) is currently trading at $0.4316, reflecting a 3.3% gain over the past 24 hours.

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A well-known market commentator has shared three reasons XRP failed to deliver the pump many expected in 2025. XRP entered 2025 with huge expectations after a remarkable stretch in late 2024.

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Bitcoin is testing key resistance levels after breaking the 20-day SMA, with analysts expecting potential upside momentum. Currently, Bitcoin is trading at $91,747, reflecting a 2.7% gain over the last 24 hours.

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The prospect that Cardano could be the next token to repeat the explosive move seen with XRP is gaining momentum among proponents. Remarkably, analyst JD is one of those sharing this narrative.

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