A federal judge has handed prediction markets platform Kalshi a temporary shield from enforcement after Connecticut regulators accused the company of running unlicensed online gambling.

The ruling pauses state action as the legal fight over Kalshi’s status moves into early 2026.

Connecticut’s Department of Consumer Protection (DCP) issued cease-and-desist notices on Dec. 2 to Kalshi, Robinhood, and Crypto.com, alleging they were offering unlicensed sports wagering through “online sports event contracts.”

Judge Halts Connecticut Action as Kalshi Claims Federal Oversight

A day later, Kalshi sued the agency, arguing that its event contracts fall squarely under federal derivatives law and that the Commodity Futures Trading Commission (CFTC), not individual states, has “exclusive jurisdiction” over its platform.

On Monday, Judge Vernon Oliver ordered the DCP to refrain from taking action while the court reviews Kalshi’s request for temporary relief.

Under the schedule set by the court, the DCP must respond by Jan. 9, Kalshi will submit additional arguments by Jan. 30, and oral arguments are expected in mid-February.

Kalshi, designated by the CFTC as a federally regulated contract market, began offering event-based contracts nationwide earlier this year, including markets tied to sports, weather, and political outcomes.

However, the platform’s expansion has triggered a wave of state-level challenges. Regulators in several states argue that Kalshi’s contracts resemble sports bets and fall under gambling laws.

Kalshi says its products are federally regulated financial instruments, not wagers, and that state crackdowns violate the Commodity Exchange Act.

Connecticut is the latest in a string of regulatory battles. In October, Kalshi sued the New York State Gaming Commission after it issued a similar cease-and-desist order.

Massachusetts’ attorney general took the company to court in September, and Kalshi has filed suits this year against regulators in New Jersey, Nevada, Maryland, and Ohio, accusing each of overstepping their authority.

Kalshi Partners with CNN After $1B Funding Round

As reported, Kalshi has secured a major media breakthrough after signing a partnership with CNN, making the company the network’s official prediction markets partner while closing a $1 billion funding round at an $11 billion valuation.

Under the agreement, Kalshi’s real-time market data will be used inside CNN’s newsroom to support reporting on politics, economics, and major cultural events.

The funding follows a surge in activity across prediction platforms. According to Token Terminal data cited by the company, Kalshi posted record trading volume of $4.54 billion in November, beating October’s $4.49 billion.

Kalshi said weekly volumes are now exceeding $1 billion, representing growth of more than 1,000% since 2024.

Its closest competitor, Polymarket, also recorded a strong November, hitting a monthly total of $3.76 billion after crossing $3 billion in October.

Meanwhile, Mike Novogratz’s Galaxy Digital is in talks with Polymarket and Kalshi about becoming a liquidity provider, as on-chain betting on real-world events draws more attention from both retail traders and Wall Street.

The post Kalshi Wins Temporary Pause Against Connecticut Gambling Order appeared first on Cryptonews.

Rep. Keith Self (R-Texas) on Tuesday introduced an amendment to the massive annual defense bill that would block the creation of a US central bank digital currency.

Self said GOP leaders had previously promised that anti-CBDC language would be included in the legislation, but it was missing from the version released Sunday.

“Promises were broken to include this language in the NDAA,” he wrote on X. “My amendment would fix the bill.”

House Pushes Ahead on Defense Bill as Self Seeks to Block Fed Digital Dollar

House leaders are aiming to pass the defense package on Wednesday afternoon, according to Politico, though negotiations remain fluid.

Self’s proposal, titled the “Anti-CBDC Surveillance State” amendment, would bar the Federal Reserve from developing, testing, or issuing a central bank digital currency, or any similar digital asset under a different name.

It would also prohibit Federal Reserve banks from offering accounts or financial services directly to individuals, a move supporters say is critical to preventing government-controlled consumer banking.

The amendment includes an exception for “dollar-denominated currency that is open, permissionless, and private,” a carve-out aimed at ensuring paper-cash-level privacy protections.

The broader defense bill, formally known as the annual authorization for Pentagon spending and policy, spans more than 3,000 pages and is typically considered one of Congress’s few must-pass measures each year.

The absence of the CBDC language angered conservatives, who saw it as a retreat from earlier commitments.

Self told Fox Business that House Republicans had been promised the amendment authored by Majority Whip Tom Emmer, one of Congress’s most outspoken CBDC critics.

After reviewing the bill, Self said it was clear the provision had been dropped.

“We have to pass an NDAA, because it’s one of the must-pass bills we have in Congress,” he said. “We’ve got to fix it and get it passed.”

CBDC Could Give Government Control Over Americans’ Money

Several Republicans echoed his frustration. Rep. Marjorie Taylor Greene (R-Ga.) said she supports cryptocurrency but opposes any system that could allow the federal government to restrict how Americans use their money.

Rep. Warren Davidson (R-Ohio) warned that a CBDC would “insert the government between you and your money” and said Congress must pass a statutory ban, not rely solely on executive action.

Earlier this year, President Trump signed an executive order barring federal agencies from issuing or promoting any form of CBDC, citing risks to privacy and national sovereignty.

However, House GOP aides told The Hill that negotiations over a separate bipartisan housing package derailed efforts to include a CBDC ban in the defense bill, saying the final language “was not something that was ultimately going to be acceptable to our members.”

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The Solana network’s foundation is weakening as liquidity thins and profitability drops, according to on-chain data.

According to Glassnode, Solana’s 30-day average realized profit-to-loss ratio has remained below 1 since mid-November, a level typically associated with bear-market behavior.

A reading under 1 means traders are realizing losses more often than profits, signalling deteriorating sentiment and reduced liquidity.

Analysts Say Solana Entering “Full Liquidity Reset”

On-chain research group Altcoin Vector described the current environment as a “full liquidity reset,” a pattern that has historically marked the beginning of new liquidity cycles and preceded market bottoms.

If the structure mirrors April’s setup, analysts said liquidity could begin to recover in roughly four weeks, pointing to early January for potential renewed momentum.

Despite the pressure, Solana isn’t without support. Persistent withdrawals from centralized exchanges have steadily reduced available supply, while demand from ETF buyers continues to build.

Spot Solana ETFs recorded $17.72 million in net inflows so far this week, nearly matching last week’s $20.30 million, according to SoSoValue.

Still, the broader environment remains fragile. Elevated leverage across crypto markets has amplified volatility, with CoinGlass reporting $432 million in liquidations over the past 24 hours.

Solana accounted for $15.6 million of that, making it the third-most liquidated asset behind Bitcoin and Ethereum, as the token climbed 3.2% on the day, per CoinGecko.

Analysts say the mid- to long-term outlook for Solana remains slightly constructive, especially if macro uncertainty clears and liquidity returns to the market.

However, in the near term, shrinking profitability, thinning liquidity, and heavy leverage leave the asset vulnerable to sharp swings.

As reported, Pye Finance has revealed a $5 million seed round led by some of the major players in the space. The goal is to turn billions in locked SOL stakes into an active yield market.

Variant and Coinbase Ventures led this round, with participation from Solana Labs, Nascent, Gemini, and others, according to the press release.

Pye says that it’s building bond markets for validators and stakers on Solana (SOL). The platform enables validators to draw and keep stake. They can offer rewards across more than a thousand validators.

Fed Liquidity Boost Could Send Bitcoin “Sharply Higher”

As reported, Bitcoin’s climb above $92,000 has stirred fresh optimism among market watchers who now believe this week’s Federal Reserve meeting could set off a far bigger rally.

Analysts at the London Crypto Club say a liquidity boost from the Fed on Wednesday may act as a powerful catalyst, potentially driving the world’s largest cryptocurrency “sharply higher.”

In their latest note, David Brickell and Chris Mills argue that the central bank is poised to deliver a “dovish surprise,” forecasting that policymakers will inject liquidity through a creative bond-buying mechanism rather than explicit quantitative easing.

“We’re moving into a continued rate-cutting cycle accompanied by balance sheet expansion as the Fed effectively turns on the money printers to monetise the deficit,” they wrote.

Meanwhile, a key on-chain indicator known as “liveliness” is climbing again, even as Bitcoin’s price action remains subdued.

Analysts say the divergence suggests renewed underlying demand, with dormant coins moving at levels not seen in years, a sign that long-term holders may be re-entering the market.

Last week, Bitfinex said the market is showing “seller exhaustion” following a period of heavy deleveraging and panic-driven exits by short-term holders.

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Crypto analysts are watching today’s Federal Reserve meeting closely, but according to Nansen’s Principal Research Analyst Aurelie Barthere, the rate cut itself is no longer the main story.

In a note shared with Cryptonews.com, Barthere said markets have already priced Fed rate cut in, adding that what matters now is Fed Chair Jerome Powell’s tone and the upcoming leadership transition in early 2026.

Fed to Stick to ‘Wait-and-See’ Approach

Barthere expects the Fed to deliver the widely anticipated 25-basis-point cut, noting that policymakers are likely to stress a data-dependent approach given the two-month lag in labor-market figures.

“The Fed is likely to maintain a wait-and-see stance,” she said, adding that she expects the terminal rate projection to remain near 3.0%, reflecting a divided committee.

Beyond today’s decision, Barthere pointed to the delayed announcement of Kevin Hassett as the next Fed Chair, now expected in early 2026, as a potentially bullish development for crypto markets.

A leadership shift toward a more growth-friendly stance could strengthen expectations for further easing next year.

On the technical front, Barthere said Bitcoin faces a critical test at the $91,000 level, where the 20-day EMA converges with a downtrend dating back to October.

She expects BTC to trade around this zone after the FOMC meeting, rather than making a decisive breakout.

The Fed meeting arrives at the end of a turbulent year for the US economy, marked by weakening labor conditions, rising layoffs, and renewed inflation pressure tied to President Donald Trump’s tariff policies.

The central bank is also operating with limited fresh data due to the U.S. government shutdown, which delayed November hiring and inflation releases.

Despite mixed signals, economists overwhelmingly expect another quarter-point cut. The CME FedWatch tool places the odds of a 25-bps move at 89.4%, which would mark the third consecutive reduction and push the federal funds rate into the 3.75%–4% range.

Fed Liquidity Boost Could Send Bitcoin “Sharply Higher,” Analysts Say

As reported, Bitcoin’s climb above $92,000 has stirred fresh optimism among market watchers who now believe this week’s Federal Reserve meeting could set off a far bigger rally.

Analysts at the London Crypto Club say a liquidity boost from the Fed on Wednesday may act as a powerful catalyst, potentially driving the world’s largest cryptocurrency “sharply higher.”

In their latest note, David Brickell and Chris Mills argue that the central bank is poised to deliver a “dovish surprise,” forecasting that policymakers will inject liquidity through a creative bond-buying mechanism rather than explicit quantitative easing.

“We’re moving into a continued rate-cutting cycle accompanied by balance sheet expansion as the Fed effectively turns on the money printers to monetise the deficit,” they wrote.

Meanwhile, a key on-chain indicator known as “liveliness” is climbing again, even as Bitcoin’s price action remains subdued.

Analysts say the divergence suggests renewed underlying demand, with dormant coins moving at levels not seen in years, a sign that long-term holders may be re-entering the market.

Last week, Bitfinex said the market is showing “seller exhaustion” following a period of heavy deleveraging and panic-driven exits by short-term holders.

The post Fed Cut Already Priced In, Powell’s Tone and 2026 Shift Bullish for Crypto: Nansen appeared first on Cryptonews.

Libeara, the blockchain infrastructure platform backed by Standard Chartered’s venture arm SC Ventures, has rolled out a new tokenized gold investment fund in Singapore, bringing one of the world’s oldest safe-haven assets onto digital rails.

The fund, launched in partnership with FundBridge Capital, allows professional investors to gain exposure to gold through blockchain-based tokens issued on Libeara’s ledger.

Each token is designed to correlate to the spot price of gold, offering a digitized alternative to holding the physical metal.

FundBridge Says Tokenized Gold Cuts Costs While Preserving Price Exposure

FundBridge said the structure removes the traditional costs of vaulting and logistics while keeping the price exposure intact.

“FundBridge’s priority is to bridge traditional fund governance with emerging digital infrastructure,” CEO Sue Lynn Lim reportedly told Nikkie.

“We’ve worked closely with our partners to ensure the framework meets the standards of a regulated fund environment while advancing the use of real-world assets on-chain.”

The fund, named MG 999, is available exclusively to institutional and accredited participants. Unlike traditional gold funds, MG 999 does not hold physical bullion.

Instead, the tokens are engineered to mirror gold’s market performance, offering a synthetic exposure mechanism that FundBridge says targets efficiency without compromising regulatory safeguards.

The move extends a broader push by established financial institutions to tokenize real-world assets, bonds, funds, treasuries and now precious metals, as blockchain technology gains ground well beyond the volatile world of cryptocurrencies.

SC Ventures has been steadily expanding its digital-assets footprint in Asia. Alongside Libeara, the bank holds majority stakes in Zodia Custody and Zodia Markets, both focused on institutional digital-asset services.

The latest initiative underscores how traditional finance players are leveraging their reputation to enter a sector that has struggled with trust following multiple industry blowups.

Gold Demand Surges as Institutions Seek Alternatives

The launch also comes during a renewed surge in global gold demand. Central banks have been increasing their bullion reserves this year amid ongoing concerns about the long-term dominance of the US dollar and geopolitical uncertainty.

President Donald Trump’s tariff policies have further stoked demand for safer assets.

Last month, Standard Chartered joined other financial institutions in launching a physically backed gold fund in Singapore, with the bank acting as custodian for bullion stored at the high-security Le Freeport vault near Changi Airport.

That product targets investors seeking exposure to allocated metal rather than tokenized units.

MG 999 also contains a lending component aimed at Singapore’s jewelry sector. Mustafa Gold, a major retailer in the city-state, has been named the fund’s first borrower.

The structure allows Mustafa to secure credit against its gold jewelry inventory while keeping the pieces on display.

“Gold-linked tokens are quite unique and complex,” said Mustafa founder Mustaq Ahmad. “MG 999 lets retailers tap digital innovation and better manage working-capital needs.”

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Circle has secured a major regulatory win in the United Arab Emirates, gaining a Financial Services Permission (FSP) license from the Abu Dhabi Global Market’s Financial Services Regulatory Authority (FSRA).

The approval allows Circle to operate as a fully regulated Money Services Provider within the UAE’s capital market free zone, the company said in a Tuesday’s press release.

Circle Gains Full Regulatory Entry Into UAE’s Fast-Growing Crypto Hub

The license grants Circle the ability to offer regulated payment, settlement, and digital-asset services tied to USDC, giving the company a formal operating presence inside one of the world’s fastest-growing hubs for compliant crypto activity.

The move comes as the UAE continues to position itself as a global center for digital-asset regulation, with ADGM leading efforts to attract firms seeking clear rules for fiat-referenced tokens and tokenized financial services.

As part of its expansion, Circle appointed Dr. Saeeda Jaffar as Managing Director for the Middle East and Africa.

Dr. Jaffar, currently a senior executive at Visa overseeing the GCC region, will join Circle to guide its strategy, build regional partnerships, and push for broader adoption of USDC in business payments and financial infrastructure across the UAE and beyond.

“Regulatory clarity is the foundation of a more open and efficient internet financial system. We are honored to work with the FSRA in ADGM,” Circle co-founder and CEO Jeremy Allaire said.

With the license in hand, Circle plans to expand regulated USDC use in corporate payments, settlement rails and developer infrastructure across the region.

The announcement also follows Dubai’s earlier recognition of USDC and EURC under the DFSA’s crypto token regime, giving Circle regulatory footing across both of the UAE’s major financial zones.

Stablecoins have also surged in mainstream adoption since President Donald Trump signed the GENIUS Act into law in July, establishing a federal framework for their issuance and oversight.

The law’s passage triggered a wave of new stablecoin initiatives from major financial institutions, including Bank of America, Morgan Stanley, and Robinhood.

Tether, Binance Secure Regulatory Approval in ADGM

As reported, Tether’s USDT stablecoin has also secured regulatory recognition as an approved fiat-referenced token across a wide range of blockchains inside the ADGM.

Tether said ADGM now permits licensed institutions in the financial free zone to conduct regulated activities involving USDT across Aptos, Celo, Cosmos, Kaia, Near, Polkadot, Tezos, TON and TRON.

These approvals expand on earlier recognition for USDT on Ethereum, Solana and Avalanche.

On Monday, Binance disclosed that it has also secured full authorization to operate its flagship Binance.com platform under ADGM oversight, a milestone that comes after years of regulatory scrutiny.

Binance will operate through three distinct legal entities in the zone, an exchange, a clearing house and a broker-dealer, reflecting a traditional financial-market structure designed to enable regulated trading, custody, settlement and off-exchange services.

The post Circle Wins Full ADGM License to Expand USDC Across the UAE appeared first on Cryptonews.

Tether’s USDT stablecoin has secured regulatory recognition as an approved fiat-referenced token across a wide range of blockchains inside the Abu Dhabi Global Market (ADGM), marking another step in the UAE’s accelerating push to position itself as a global center for regulated digital assets.

In a statement on Monday, Tether said ADGM now permits licensed institutions in the financial free zone to conduct regulated activities involving USDT across Aptos, Celo, Cosmos, Kaia, Near, Polkadot, Tezos, TON and TRON.

These approvals expand on earlier recognition for USDT on Ethereum, Solana and Avalanche, broadening the stablecoin’s jurisdictional and technical reach across the region.

ADGM Move Validates Stablecoins’ Financial Importance

Paolo Ardoino, Tether’s CEO, said the move underscores the role of stablecoins in the modern financial system.

“Introducing USDT within ADGM’s regulated digital asset framework reinforces the role of stablecoins as essential components of today’s financial landscape,” he said, adding that extending recognition across multiple chains helps strengthen Abu Dhabi’s standing as a hub for compliant digital finance.

ADGM operates as a special economic zone and international financial center with its own legal, regulatory and judicial system.

Its Financial Services Regulatory Authority (FSRA) oversees licensing and supervision for firms active within the jurisdiction.

Under the newly issued recognition, ADGM-licensed entities can support USDT across nearly all major chains where the token circulates, creating a broader multichain foundation for settlement, trading and decentralized-application activity.

The announcement arrives as Abu Dhabi intensifies its campaign to attract global digital-asset firms.

On the same day, Binance disclosed that it has secured full authorization to operate its flagship Binance.com platform under ADGM oversight, a milestone that comes after years of regulatory scrutiny.

Binance will operate through three distinct legal entities in the zone, an exchange, a clearing house and a broker-dealer, reflecting a traditional financial-market structure designed to enable regulated trading, custody, settlement and off-exchange services.

Co-CEO Richard Teng said the approval demonstrates Binance’s adherence to what he described as ADGM’s “gold-standard” regulatory expectations.

Pending final operational steps, Binance.com is slated to begin regulated activity under the ADGM regime on Jan. 5, 2026, reinforcing the UAE capital’s strategy of pairing stringent oversight with an open stance toward digital-asset innovation.

Tether Pushes Back as Arthur Hayes Flags Insolvency Risks

As reported, Tether has faced renewed scrutiny after BitMEX founder Arthur Hayes warned that a 30% decline in the company’s Bitcoin and gold holdings could erase its equity.

However, CoinShares’ James Butterfill rejected the alarm, noting that Tether holds more than $181 billion in reserves against $174.45 billion in liabilities, leaving a surplus of roughly $6.78 billion.

His comments arrive amid broader market unrest tied to volatility in Japanese bonds and weak US labor data.

CEO Paolo Ardoino also directly challenged Hayes’s claims, revealing that Tether Group’s total assets are closer to $215 billion, supported by around $7 billion in excess equity and an additional $23 billion in retained earnings.

He emphasized that Bitcoin and gold make up only 12.6% of reserves, with more than 70% held in short-term US Treasuries.

Ardoino accused critics of misreading the company’s attestation data, pointing to Tether’s roughly $500 million per month in interest income.

The post Tether’s USDT Gains Regulatory Recognition as Fiat-Referenced Token in Abu Dhabi Global Market appeared first on Cryptonews.

Michael Saylor’s Strategy has added another major stack of Bitcoin to its balance sheet as markets attempt to reclaim bullish momentum.

In a Monday post on X, Saylor revealed that Strategy purchased 10,624 BTC for roughly $962.7 million, paying an average price of $90,615 per coin.

The company now holds 660,624 BTC acquired for a total of $49.35 billion at an average price of $74,696 per Bitcoin, according to Strategy’s Form 8-K filing with the US Securities and Exchange Commission.

Strategy Funds Latest Bitcoin Buy With $963M in ATM Share Sales

According to the SEC document, Strategy financed the latest buy through its ongoing at-the-market (ATM) equity offering program, selling 442,536 shares of STRD preferred stock and 5.13 million shares of MSTR common stock between December 1–7, generating $963 million in net proceeds.

The filing shows that all BTC purchased during this period was funded directly from ATM proceeds, continuing a pattern that has now become central to Strategy’s corporate playbook.

Last week, Strategy CEO Phong Le said the company’s newly built $1.44 billion cash reserve is designed to quiet investor anxiety over its ability to withstand a sharp downturn in Bitcoin.

Le said the move followed weeks of speculation about whether the firm could continue meeting its dividend and debt commitments if market conditions worsened.

“We’re very much a part of the crypto ecosystem and Bitcoin ecosystem,” Le said. “Which is why we decided a couple of weeks ago to start raising capital and putting US dollars on our balance sheet to get rid of this FUD.”

The reserve, funded via a stock sale, is intended to secure at least 12 months of dividend payments, with plans to stretch that buffer to 24 months.

Concerns over Strategy’s dividend stability had grown louder in recent weeks as Bitcoin retreated from its highs.

Last week, Le said Strategy would only consider selling Bitcoin if the stock dropped below net asset value and the company lost the ability to raise additional funds.

Strategy has also introduced a new “BTC Credit” dashboard, which it says shows the company holds enough assets to service dividends for more than 70 years.

Bitcoin Eyes Breakout as Analysts Predict Fed “Dovish Surprise” Could Ignite Rally

As reported, Bitcoin’s bounce above $92,000 has revived optimism among traders who believe this week’s Federal Reserve meeting could unlock the next leg of the rally.

Analysts at the London Crypto Club argue that a fresh wave of liquidity from the Fed may act as a powerful catalyst, especially after the market spent two months retracing nearly all of its yearly gains.

In a new note, analysts David Brickell and Chris Mills said they expect a “dovish surprise,” predicting the Fed will inject liquidity through a creative bond-buying mechanism while continuing its rate-cutting cycle.

They argue that expanding the balance sheet to “monetise the deficit” could create a strong macro tailwind for Bitcoin heading into the new year, particularly as traders look for a signal that restores confidence.

The post Billionaire Michael Saylor Adds 10,624 BTC in Latest Purchase – Is the Bull Market Back? appeared first on Cryptonews.

Bitcoin’s climb above $92,000 has stirred fresh optimism among market watchers who now believe this week’s Federal Reserve meeting could set off a far bigger rally.

Analysts at the London Crypto Club say a liquidity boost from the Fed on Wednesday may act as a powerful catalyst, potentially driving the world’s largest cryptocurrency “sharply higher.”

Fed Poised for “Dovish Surprise” as Analysts Warn Liquidity Wave Is Coming

In their latest note, David Brickell and Chris Mills argue that the central bank is poised to deliver a “dovish surprise,” forecasting that policymakers will inject liquidity through a creative bond-buying mechanism rather than explicit quantitative easing.

“We’re moving into a continued rate-cutting cycle accompanied by balance sheet expansion as the Fed effectively turns on the money printers to monetise the deficit,” they wrote.

“That’s a powerful, structural tide to be swimming against in the new year.”

The outlook comes at a tense moment for crypto traders. Bitcoin’s recent break above $92,000 follows two months of turbulence that erased almost all of the year’s gains, leaving investors eager for a clear macro signal that could reset market direction.

The Federal Open Market Committee’s decision dominates this week’s macro calendar.

“Policymakers are expected almost universally to cut rates 25bps for a third time this year,” said Ed Yardeni of Yardeni Research, echoing broad market expectations.

The CME FedWatch tool shows an 86% probability of a quarter-point cut, while prediction market Polymarket places the odds even higher at 94%.

Historically, lower interest rates have benefited risk assets like Bitcoin by reducing the appeal of bonds and increasing the flow of capital into higher-yielding or speculative markets.

Bitcoin Tests Key Fibonacci Support

As reported, Bitcoin is trading at a pivotal level that analysts say could determine whether the market holds its broader uptrend or slips back toward spring lows.

Crypto trader Daan Crypto Trades said the 0.382 Fibonacci retracement zone is the line bulls must defend, warning that a breakdown could send BTC back to April levels near $76,000.

“It’s also pretty much the last major support before testing the April lows again, which would break this high time frame market structure,” he said.

Meanwhile, a key on-chain indicator known as “liveliness” is climbing again, even as Bitcoin’s price action remains subdued.

Analysts say the divergence suggests renewed underlying demand, with dormant coins moving at levels not seen in years, a sign that long-term holders may be re-entering the market.

Last week, Bitfinex said the market is showing “seller exhaustion” following a period of heavy deleveraging and panic-driven exits by short-term holders.

The post Fed Liquidity Move Could Send Bitcoin “Sharply Higher,” Analysts Say 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.

Bitcoin is trading at a pivotal level that analysts say could determine whether the market holds its broader uptrend or slips back toward spring lows.

In a recent post on X, crypto trader Daan Crypto Trades said the 0.382 Fibonacci retracement zone is the line bulls must defend, warning that a breakdown could send BTC back to April levels near $76,000.

“It’s also pretty much the last major support before testing the April lows again, which would break this high time frame market structure,” he said.

Bitcoin Dips Below $88K in Weekend Leverage Flush, Analyst Says

Over the weekend, Bitcoin briefly dipped below $88,000 during another round of leverage washouts before rebounding above $91,500.

Analyst “Bull Theory” described the move as typical low-liquidity weekend manipulation aimed at flushing both longs and shorts.

The market now turns its attention to this week’s Federal Open Market Committee meeting, where a 0.25% rate cut is widely expected.

Still, crypto markets have cooled since the October cut, as Fed Chair Jerome Powell emphasized a data-dependent path rather than a predictable easing cycle.

Markus Thielen of 10x Research noted that traders expect a similar tone this week, cautious and potentially hawkish, keeping pressure on risk assets.

With ETF inflows softening and trading volumes thinning into December, Thielen said upside participation remains limited, while volatility compression leaves BTC more vulnerable to downside moves in the near term.

“Bulls will point to the Treasury General Account rebuild, the end of Quantitative Tightening, and looming rate cuts as a liquidity windfall for Bitcoin,” Thielen wrote.

He added that hypothetical macro tailwinds are “irrelevant if the underlying message lacks conviction and the market structure fails to support a sustained move.”

Nick Ruck of LVRG Research said upcoming U.S. jobs data and inflation figures may prove just as influential.

If they reinforce expectations for continued easing, he believes renewed liquidity inflows could fuel a broader recovery across digital assets.

Bitcoin’s Rising “Liveliness” Metric Signals Hidden Bull-Market Strength

As reported, a key on-chain indicator known as “liveliness” is climbing again, even as Bitcoin’s price action remains subdued.

Analysts say the divergence suggests renewed underlying demand, with dormant coins moving at levels not seen in years, a sign that long-term holders may be re-entering the market.

The indicator’s steady rise points to a major rotation of capital beneath the surface despite cautious sentiment.

Liveliness measures the balance between coins being transacted and those being held, weighted by age. It tends to rise during bull markets as older coins move at higher prices, reflecting fresh inflows and greater conviction.

Last week, Bitfinex said the market is showing “seller exhaustion” following a period of heavy deleveraging and panic-driven exits by short-term holders.

“The combination of extreme deleveraging, capitulation among short-term holders, and early signs of seller exhaustion has created the conditions for a stabilisation phase and a relief bounce,” the firm wrote.

The post Bitcoin Tests Key Fibonacci Support as Analysts Warn of Drop to $76K appeared first on Cryptonews.

Ethereum co-founder Vitalik Buterin has suggested a trustless, onchain futures market for gas to bring greater predictability to Ethereum transaction costs.

In a post on X over the weekend, Buterin said repeated questions about whether Ethereum’s roadmap can guarantee low fees inspired him to outline how such a market could work.

Buterin Says Onchain Gas Futures Could Let Users Lock In Ethereum Fees

Buterin argued that an onchain gas futures system would give users the ability to lock in gas prices for future time windows, offering greater certainty as Ethereum scales.

The concept mirrors traditional futures markets, such as those for commodities, where buyers and sellers agree on a fixed price for a future date to hedge risk or speculate on price movements.

Applied to Ethereum, it would allow users to prepay for a specific amount of gas during a chosen time period, protecting them from unexpected fee spikes.

“People would get a clear signal of expectations for future gas fees, and would even be able to hedge against future gas prices,” Buterin wrote.

He suggested that a market-built signal for future base fees could help traders, developers, and heavy network users plan with far more confidence, especially those managing large volumes of transactions or operating decentralized applications.

Gas costs have eased this year, with basic Ethereum transfers averaging around 0.474 gwei, roughly one cent, according to Etherscan.

However, more complex activity still comes at a higher cost, including token swaps ($0.16), NFT transactions ($0.27), and cross-chain bridging ($0.05).

Despite the overall decline, fee volatility remains a challenge. YCharts data shows average Ethereum fees started 2025 near $1 before falling to $0.30, punctuated by swings as high as $2.60 and as low as $0.18.

Buterin’s proposal aims to smooth these fluctuations by giving users a mechanism to anticipate and manage costs, particularly ahead of high-demand periods.

Ethereum Exchange Balances Hit Record Lows

As reported, Ether held on centralized exchanges has dropped to an all-time low, with balances falling to just 8.7% of total supply, the smallest share since Ethereum launched in 2015.

The decline marks a 43% drop since July, a shift analysts say is tightening liquid supply and setting the stage for a potential market squeeze.

The rapid drawdown is linked to structural changes in how ETH is being used. More tokens are flowing into staking, restaking protocols, layer-2 networks, DeFi collateral loops, digital-asset treasury holdings, and long-term self-custody, all destinations that rarely send ETH back to exchanges.

Research outlet Milk Road said ETH is now in its “tightest supply environment ever,” noting that Bitcoin’s exchange balance remains significantly higher.

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GoTyme Bank, one of the Philippines’ fastest-growing digital banks, has launched crypto trading for its 6.5 million customers through a new partnership with US fintech firm Alpaca.

The rollout allows users to buy and store 11 crypto assets directly inside the GoTyme mobile app, with purchases auto-converted from Philippine pesos to US dollars.

Supported assets include Bitcoin (BTC), Ether (ETH), Solana (SOL), Polkadot (DOT) and several other major altcoins.

GoTyme Targets Beginners With Simple In-App Crypto Trading

While GoTyme has not indicated whether more advanced trading tools will be added later, the bank says the service is intentionally designed for newcomers.

“Our product focuses on simplicity and reliability, designed for people who want to buy crypto confidently without complicated technical analysis or managing multiple apps,” CEO Nate Clarke said.

GoTyme, launched in October 2022 through a joint venture between Singapore’s Tyme Group and the Philippines’ Gokongwei Group, has seen rapid user growth.

The bank promotes a frictionless onboarding process, allowing users to open a bank account and debit card in as little as five minutes, a feature that now extends to crypto access as well.

The digital bank is also setting its sights beyond the Philippines. Clarke recently said GoTyme plans to expand into Vietnam and Indonesia, aiming to capture a larger share of Southeast Asia’s fast-growing digital banking market.

He noted that profitability is not yet a priority. “We are very much still in a growth phase. We are not optimizing for profitability at the moment.

What matters to us is building a growing and engaged customer base,” Clarke told The Digital Banker.

The Philippines continues to be one of the most active crypto markets globally. It ranks ninth on Chainalysis’ 2025 Global Crypto Adoption Index, while local policymakers are considering a proposal to create a national strategic reserve backed by 10,000 BTC.

Philippine Senator Pushes to Put National Budget on Blockchain

As reported, Philippine Senator Bam Aquino is preparing a bill that would place the country’s entire national budget and government financial transactions on a blockchain system, aiming to make public spending fully transparent and easily traceable by citizens.

In August, Aquino said the proposal would allow “every peso” to be logged on-chain, creating what he hopes will become the world’s first fully blockchain-based national budget.

The Philippines is emerging as a testing ground for public-sector blockchain initiatives.

Congressman Miguel Luis Villafuerte recently introduced a separate bill to establish a strategic Bitcoin reserve of up to 10,000 BTC over five years.

According to the bill, the holdings could only be sold under strict conditions, such as retiring sovereign debt, and no more than 10% of the reserve may be liquidated in any two-year period after the minimum holding period expires.

As of November 2024, the Philippines’ debt had risen to ₱16.09 trillion ($285 billion), with domestic obligations accounting for nearly 68% of the total.

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A key on-chain indicator known as Bitcoin “liveliness” is climbing again, a pattern historically associated with bull market activity, raising the possibility that the current cycle still has room to run, according to analysts tracking long-term blockchain metrics.

Technical analyst TXMC said on Sunday that liveliness has been “marching higher despite lower prices,” a divergence that suggests steady underlying demand for spot Bitcoin even as market sentiment remains subdued.

Bitcoin’s Rising “Liveliness” Metric Points to Renewed Bull-Market Demand

The metric, described as an “elegant” long-term gauge of chain activity, measures the ratio of coins being transacted relative to those being held, weighted by their age.

It increases when older coins are spent more frequently, and falls when long-term holders accumulate.

“Liveliness usually rises in bull runs as supply changes hands at higher prices, indicating a flow of newly invested capital,” TXMC explained, noting that the latest upward trend contradicts the muted price action seen in recent weeks.

Glassnode data shows liveliness pushing into a new peak range, breaking out of the corridor it remained stuck in from the 2017 all-time-high through earlier cycles.

Analyst James Check said the current spike in liveliness reflects an unprecedented reactivation of dormant Bitcoin supply, surpassing patterns seen during the 2017 bull run, the first cycle characterized by “widespread participation” and a dramatic parabolic surge.

This time, however, the scale is far larger. While 2017 typically saw transfers measured in the thousands of dollars, Check noted that today’s on-chain value flows often reach into the billions, signaling one of the largest capital rotations Bitcoin has experienced.

“We have seen an extraordinary volume of coin days destroyed,” Check said. “I am of the view we have just watched one of the greatest capital rotations and changing of the guard in Bitcoin history.”

BTC Price Stalls, Analysts Eye Breakout Levels

Bitcoin’s price action remains subdued despite the on-chain strength. BTC briefly dipped below $89,000 early Sunday before recovering to around $89,500, largely unchanged over 24 hours.

Analyst Michaël van de Poppe said the market is stuck in a consolidation band: “Anything between $86,000 and $92,000 is pretty much noise.”

He added that a test of $92,000 could lead to a breakout, while failure could push BTC toward the low $80,000s for a potential double-bottom formation.

“I don’t think we’re far off bottoming for Bitcoin,” van de Poppe said, predicting a stronger rally heading into late Q4 and early Q1.

Last week, Bitfinex said the market is showing “seller exhaustion” following a period of heavy deleveraging and panic-driven exits by short-term holders.

“The combination of extreme deleveraging, capitulation among short-term holders, and early signs of seller exhaustion has created the conditions for a stabilisation phase and a relief bounce,” the firm wrote.

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Ether held on centralized exchanges has fallen to its lowest level in history, fueling speculation that a supply squeeze may be forming beneath the surface of the market.

According to Glassnode, exchange balances dropped to 8.7% of total ETH supply last Thursday, the smallest share recorded since Ethereum’s launch in 2015. Levels remained near that low at 8.8% on Sunday.

ETH Exchange Balances Plunge 43% as Supply Tightens to Record Levels

The sharp decline represents a 43% drop in ETH exchange balances since early July, coinciding with the acceleration of digital asset treasury (DAT) purchases and growing activity across the broader Ethereum ecosystem.

Macro research outlet Milk Road said ETH is “quietly entering its tightest supply environment ever,” noting that Bitcoin’s exchange balance remains significantly higher at 14.7%.

Analysts attributed the shift to structural changes in how ETH is being used. More tokens are flowing into staking, restaking protocols, layer-2 networks, DAT balance sheets, collateralized DeFi positions, and long-term self-custody, destinations that historically do not circulate supply back onto exchanges.

“Sentiment feels heavy right now, but sentiment doesn’t dictate supply,” Milk Road wrote. “When that gap closes, price follows.”

Beyond supply metrics, market technicians are spotting signals that buyers may be gaining control. Analyst Sykodelic highlighted an On-Balance Volume (OBV) breakout above resistance late last week, even as price failed to follow.

The divergence, they said, is a classic sign of “hidden buying strength” that sometimes precedes upward moves.

“This is a sign of buying strength, and typically, the price will follow,” the analyst noted, while cautioning that indicators aren’t guarantees.

They added that overall price action “looks bullish,” suggesting ETH may revisit higher levels before any meaningful retracement.

ETH Holds $3,000 as Momentum Builds

Ether has held above the $3,000 mark for nearly a week but continues to face resistance near $3,200. Over the past 24 hours, ETH has consolidated around $3,050, mirroring the broader market’s indecision.

The ETH/BTC pair also drew attention last week after breaking above a long-standing downtrend, a move some traders see as an early sign of capital rotating back into Ethereum.

Meanwhile, BitMine Immersion Technologies, already the largest corporate holder of Ether, has continued aggressively buying the dip even as top traders position for further declines.

The firm purchased another $199 million in ETH over the past two days, adding to its rapidly expanding reserves.

BitMine now controls $11.3 billion worth of Ether, roughly 3.08% of the total supply, and is closing in on its long-stated goal of reaching 5%.

Last month, Tom Lee said Ether may be entering the early stages of the type of explosive growth cycle that propelled Bitcoin to a 100x rally since 2017.

Lee said the current Ether market resembles Bitcoin’s setup eight years ago, a period marked by deep volatility that ultimately preceded one of the strongest bull cycles in crypto history.

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The euro stablecoin market has staged a sharp rebound in the year since the EU’s Markets in Crypto-Assets Regulation (MiCA) took effect, doubling in size as new rules for issuers came online.

According to Decta’s Euro Stablecoin Trends Report 2025, the sector’s market capitalization has surged from last year’s slump, reversing a 48% contraction and outpacing the broader stablecoin market’s 26% growth rate.

Euro Stablecoins Hit $680M After MiCA

Decta’s report says euro-denominated stablecoins climbed to roughly $500 million by May 2025 following MiCA’s June 2024 rollout, a shift credited to clearer issuer obligations and standardized reserve rules.

Today, the market sits at around $680 million, per CoinGecko. However, the market is still tiny compared with the nearly $300 billion locked in US dollar-backed tokens, a space dominated by USDT and USDC.

Much of the growth came from a handful of standout issuers. Stasis’ EURS posted the strongest expansion, soaring 644% to $283.9 million as of October 2025.

Circle’s EURC and Societe Generale’s EURCV also saw meaningful increases as regulated issuers began to capitalize on MiCA’s clarity around custody, reserves and public disclosures.

Activity on-chain grew alongside market cap. Monthly transaction volume for euro stablecoins jumped nearly ninefold to $3.83 billion after MiCA implementation, the report found.

EURC and EURCV led the surge, with volumes climbing 1,139% and 343%, supported by greater use in cross-border payments, fiat on-ramps and crypto trading pairs, areas previously dominated by dollar stablecoins.

The regulatory shift also appears to be stimulating public interest. Decta recorded sharp spikes in search activity across EU markets, including a 400% jump in Finland and more than tripling in Italy.

Interest rose across smaller economies as well, suggesting broader consumer awareness as euro-denominated tokens begin carving out a clearer role in Europe’s digital-asset landscape.

Poland Remains Last EU State Without MiCA Rules

As reported, Poland’s push to bring its crypto sector in line with the EU’s MiCA framework collapsed after lawmakers failed to overturn President Karol Nawrocki’s veto of a major digital-asset bill.

The vote fell short of the required three-fifths majority, leaving Poland as the only EU member without a national MiCA-style regulatory regime and forcing the government to restart the legislative process.

Prime Minister Donald Tusk had argued that the bill was necessary for national security, warning that unregulated crypto activity had become a channel for money laundering and foreign interference, including covert financing linked to Russia and Belarus.

Authorities have connected these concerns to several recent security incidents, including alleged sabotage plots in Poland reportedly funded through cryptocurrencies.

The veto has intensified political tensions between Nawrocki and Tusk’s pro-EU coalition.

The president rejected the bill on grounds that it overreached EU requirements and posed risks to civil liberties and property rights.

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MetaMask, the most widely used Ethereum wallet, is moving directly into the prediction market arena through a new integration with Polymarket, giving users the ability to trade event outcomes from inside their wallets.

“You can now trade on the future outcome of real world events inside your wallet,” Consensys’ Gabriela Helfet wrote, adding that users will also earn MetaMask Rewards points for every prediction placed.

MetaMask Becomes New Gateway to Polymarket With One-Tap Funding

The integration creates a new on-ramp for Polymarket and introduces “one tap funding,” allowing users to deposit with any token from any EVM-compatible chain.

The move further tightens the link between everyday crypto wallets and decentralized betting platforms, positioning MetaMask as a gateway not only to Web3 apps but also to real-world event speculation.

Polymarket has surged in popularity over the past year, fueled in part by heightened attention during the 2024 US election cycle.

Former President Donald Trump’s embrace of crypto and a more relaxed regulatory climate helped push the platform back into the US market.

The company is now reportedly exploring a valuation of up to $15 billion, following a $2 billion strategic investment from Intercontinental Exchange, the parent of the NYSE.

For MetaMask, the move comes as the wallet expands beyond its Ethereum-focused roots. In October, it launched multichain accounts that support both EVM and non-EVM networks, including Solana.

The wallet is also preparing for the rollout of a native MASK token, as parent company Consensys gears up for a potential IPO.

The move comes as Polymarket is recruiting staff for an internal market-making team that would trade against its own customers, mirroring a controversial feature already used by rival Kalshi that has drawn criticism and legal challenges.

As reported, the New York-based prediction market startup has approached traders, including sports bettors, to join the new unit, people familiar with the matter said, requesting anonymity because the plans remain private.

Prediction Markets Hit $13B in Record Activity

Prediction markets have crossed $13 billion in cumulative trading volume, marking a record high even as broader crypto markets cool.

The surge has drawn in major players across tech and finance, including Fanatics, Coinbase, and MetaMask, all of which have recently launched or expanded event-trading platforms.

Against this backdrop, YZi Labs, the venture firm founded by Binance co-founder Changpeng “CZ” Zhao, has been intensifying its involvement in the sector.

YZi-backed Opinion has emerged as one of the most surprising breakout platforms. Launched on BNB Chain in October, it recorded nearly $1.5 billion in weekly trading volume within its first month, briefly overtaking established names such as Kalshi and Polymarket.

Meanwhile, prediction markets platform Kalshi has secured a major media breakthrough after signing a partnership with CNN, making the company the network’s official prediction markets partner while closing a $1 billion funding round at an $11 billion valuation.

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Strategy CEO Phong Le says the company’s newly built $1.44 billion cash reserve is designed to quiet investor anxiety over its ability to withstand a sharp downturn in Bitcoin.

Speaking on CNBC’s Power Lunch, Le said the move followed weeks of speculation about whether the firm could continue meeting its dividend and debt commitments if market conditions worsened.

“We’re very much a part of the crypto ecosystem and Bitcoin ecosystem,” Le said. “Which is why we decided a couple of weeks ago to start raising capital and putting US dollars on our balance sheet to get rid of this FUD.”

Strategy Builds Cash Buffer to Avoid Selling Bitcoin in Market Slump

The reserve, announced Monday and funded via a stock sale, is intended to secure at least 12 months of dividend payments, with plans to stretch that buffer to 24 months.

The company emphasized that the stock-funded buildup gives Strategy breathing room without having to sell any Bitcoin during a turbulent period for the market.

Concerns over Strategy’s dividend stability had grown louder in recent weeks as Bitcoin retreated from its highs.

Le acknowledged the market chatter but dismissed it as exaggerated. “We weren’t going to have an issue paying dividends, and we weren’t likely going to have to tap into selling our Bitcoin,” he said.

“But there was FUD that was put out there that we wouldn’t be able to meet our dividend obligations, which causes people to pile into a short Bitcoin bet.”

The CEO said raising $1.44 billion in just eight and a half days was intended as a direct response, showing the firm can still attract capital even in a downcycle.

“We did it to address the FUD, and to show people we’re still able to raise money when Bitcoin is under pressure.”

Last week, Le said Strategy would only consider selling Bitcoin if the stock dropped below net asset value and the company lost the ability to raise additional funds.

Strategy has also introduced a new “BTC Credit” dashboard, which it says shows the company holds enough assets to service dividends for more than 70 years.

Strategy Adopts Dual-Reserve Model as BTC Buying Slows

As reported, Strategy has shifted from its long-standing “buy Bitcoin at all costs” approach to a dual-reserve treasury model that pairs long-term BTC holdings with a growing dollar buffer.

The move follows a dramatic slowdown in the firm’s accumulation pace, from 134,000 BTC per month at its 2024 peak to just 9,100 BTC in November, signaling preparation for a potentially prolonged bear market.

Despite the slowdown, the company remains one of the world’s largest Bitcoin holders, with roughly 650,000 BTC on its balance sheet.

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Strive, a Nasdaq-listed firm and the 14th-largest public holder of Bitcoin, is pushing back against MSCI’s plan to remove companies with significant digital-asset exposure from its global indexes.

In a letter addressed to MSCI chairman and CEO Henry Fernandez, the company warned that the proposal, which would exclude firms whose crypto holdings exceed 50% of total assets, risks shutting passive investors out of fast-growing corners of the market.

JPMorgan Warns Strategy Could Lose $2.8B Under MSCI Proposal

JPMorgan analysts recently cautioned that Strategy, a prominent Bitcoin treasury company included in the MSCI World Index, could face as much as $2.8 billion in losses if the exclusion moves forward.

Strategy’s chair, Michael Saylor, has confirmed that discussions with MSCI are ongoing as the company attempts to head off the decision.

Strive CEO Matt Cole argued that the proposal misunderstands the role large Bitcoin-focused firms play in emerging industries, particularly artificial intelligence.

He noted that miners such as MARA Holdings, Riot Platforms, and Hut 8, all potential exclusion targets, are rapidly expanding into AI infrastructure by retooling data centers for high-intensity compute workloads.

“Many analysts argue that the AI race is increasingly limited by access to power, not semiconductors,” Cole wrote, adding that miners are uniquely positioned to meet those needs.

Even as AI revenue increases, he said, companies will continue holding sizable Bitcoin reserves, meaning MSCI’s exclusion would permanently wall off a sector positioned at the intersection of digital assets and next-generation computing.

Cole also pointed to the rising demand for Bitcoin-linked financial products. Firms such as Strategy and Metaplanet function similarly to banks offering structured BTC notes, providing equity-based access to Bitcoin performance without requiring investors to hold the asset directly.

Excluding these treasury companies, he argued, would give traditional financial institutions, including JPMorgan, Morgan Stanley, and Goldman Sachs, an uneven playing field, as index-linked capital would become biased against firms whose business models center on Bitcoin exposure.

Strive Says MSCI’s 50% Rule Would Cause Index “Whiplash”

Strive further challenged the practicality of MSCI’s 50% threshold, noting that tying index eligibility to a volatile asset would cause companies to drift in and out of benchmarks, increasing tracking errors for funds that follow them.

Cole highlighted Trump Media & Technology Group as an example. Despite holding one of the largest public Bitcoin treasuries, it narrowly avoided MSCI’s preliminary exclusion list because its BTC exposure currently sits just under the cutoff.

Instead of a blanket rule, Strive proposed a parallel “ex-digital asset treasury” version of MSCI’s indexes.

This would allow asset managers who wish to avoid crypto-heavy companies to do so, while others could maintain exposure to the full investable universe.

MSCI has not yet indicated whether it will revise its proposal, but industry pressure is mounting as treasury-heavy firms await a final decision.

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BlackRock’s iShares Bitcoin Trust has logged its longest stretch of weekly withdrawals since the fund launched in January 2024, marking a sharp turn in institutional sentiment toward Bitcoin even as prices steady.

Investors pulled more than $2.7 billion from the fund over the five weeks ending Nov. 28, according to data from SoSoValue.

Redemptions continued on Thursday with an additional $113 million, putting the ETF on track for a sixth consecutive week of outflows.

IBIT Faces Reversal as Crypto Wipeout Ends Months of Steady Inflows

IBIT, which manages more than $71 billion in assets, has been the flagship vehicle for traditional investors seeking regulated exposure to Bitcoin.

However, flows have reversed direction since early October, when a violent liquidation across crypto markets triggered a sell-off that erased more than $1 trillion in digital-asset value.

The shift stands in contrast to the steady inflows that helped propel Bitcoin higher earlier in the year.

Last week, speaking in São Paulo, BlackRock business development director Cristiano Castro said the company’s Bitcoin ETFs had become one of its strongest revenue engines, calling their rapid ascent “a big surprise” as investor allocations surged throughout the year.

Castro also downplayed outflow concerns, noting that “ETFs are very liquid and powerful instruments.”

“What we’ve been seeing is perfectly normal; any asset that starts to experience compression usually has this effect, especially in an instrument that is heavily controlled by retail investors,” he added.

Bitcoin has clawed back some losses this week, but analysts say ETF flows paint a clearer picture of institutional caution.

In a recent report, Glassnode wrote that the outflow streak “marks a clear reversal from the persistent inflow regime that supported price earlier in the year, and reflects a cooling of new capital allocation into the asset.”

The firm noted that investor positioning has become more defensive as volatility and funding pressure remain elevated.

Despite the turbulence, Bitcoin traded around $92,000 in London on Friday morning, still down 27% from its October peak.

Spot Chainlink ETF Pulls $41M on First Day

As reported, Grayscale’s first US spot exchange-traded fund tied to Chainlink opened with solid demand, adding another data point to the debate over whether appetite for altcoins can survive a cooling crypto market.

The product ended its debut session with $41 million in net inflows and about $13 million in trading volume.

The figures placed Chainlink among the stronger ETF launches this year and suggested that, at least for some investors, regulated vehicles remain the preferred route into higher-risk digital assets.

The new Chainlink ETF comes amid the rollout of a wave of new altcoin ETFs.

Over the past month, issuers have launched products tied to Solana, XRP, and Dogecoin, with more XRP and Dogecoin funds set to list next week.

The Canary Capital XRP ETF (XRPC) debuted with $58 million in net inflows, the highest opening-day haul for any ETF this year, edging out the Bitwise Solana Staking ETF (BSOL), which launched with $57 million.

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