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Metals analyst Jesse Colomb said recent price action may suggest a significant breakout in gold in the near term. He stated that the initial breakout on November 28th points to $5,200 as a new price target.

Gold suggests a significant rise towards $5,200; the Federal Reserve may provide support.
Gold and metals market financial analyst Jesse Colomb believes a major market shift may be brewing, and gold could once again reach record prices.

In his recent analysis of the state of the gold market , Columbus pointed out that $5,200 is the next target for gold, which has already hit new historical highs multiple times this year.

Kolumb stated that the recent price breakout experienced by gold on November 28th is part of the evidence leading to this new price target. He explained that this is the third such move this year, and if prices follow previous behavior, this figure could be reached.

Nevertheless, Columb is more optimistic about the long-term prospects of gold, believing that there are tailwinds that will drive gold to new highs. He recently explained that the gold bull market is still in its early stages.

The Federal Reserve's long-term interest rate expectations could be another catalyst driving hypothetical price increases, as gold typically performs well as a non-yielding asset during periods of low interest rates.

A 25-basis-point rate cut is widely expected, which means that prices may temporarily fall if the Federal Reserve fails to do so.Philip Streibler, chief metals strategist at Chicago-based Blue Line Futures, reflected on this outcome. In an interview with Sputnik, he stated :

The overwhelming expectation for December is that the Federal Reserve will cut interest rates again. If this doesn't happen, the anticipated downward trend could even prevent December from being a winning month.

Even so, most companies predict that gold will continue to rise in 2026 and beyond, as central banks and investors are expected to continue increasing demand for the metal as a hedge against inflation and uncertainty, with no clear alternative.

Frequently Asked Questions
What are financial analyst Jesse Colomb's predictions for gold prices?
Colomb believes gold could reach $5,200 , targeting a record high, which it has already reached multiple times this year.
What is the latest evidence supporting Columbus's price forecast?
He cites the significant price breakout on November 28 as part of the trend, noting that it was the third breakout this year.

What factors might influence gold prices in the near term?
A potential rate cut by the Federal Reserve is expected to boost gold, as it traditionally performs well during periods of low interest rates.
What are the long-term expectations for gold beyond 2026?
Analysts generally predict that gold prices will rise due to continued growth in demand for the metal from central banks and investors as a hedge against inflation and uncertainty.

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Taiwan's Financial Supervisory Commission has developed a comprehensive regulatory framework for the issuance of the first national stablecoin.

Taiwan's Financial Supervisory Commission (FSC) announced that the country's first stablecoin is expected to launch in the second half of 2026, subject to legislative approval. FSC Chairman Peng Chin-lung revealed this timeline at a legislative hearing, explaining that the "Virtual Asset Services Act" must pass through the Legislative Yuan and undergo a six-month implementation period.

The proposed legislation is modeled after the EU's Regulation on the Regulation of Crypto-Asset Markets and initially restricts the issuance of stablecoins to financial institutions. While the draft does not explicitly require financial institutions to issue stablecoins, the Financial Supervisory Commission (FSC) and central banks have agreed to this approach for initial risk management. The legislation will be reviewed by the Cabinet after several meetings that have reached a "high degree of consensus" on the regulatory framework.

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Goldman Sachs announced the acquisition of Innovator Capital Management, a pioneering ETF provider with $28 billion in assets, including a clear-out ETF strategy linked to Bitcoin.

Goldman Sachs has reached an agreement to acquire Innovator Capital Management, a leader in defined outcome exchange-traded funds (ETFs), for approximately $2 billion. The deal, expected to close in the second quarter of 2026, will add 159 defined outcome ETFs to Goldman Sachs Asset Management’s portfolio, including Innovator’s Bitcoin-linked ETF strategy, providing investors with downside protection on cryptocurrency investments.

This acquisition will make Goldman Sachs one of the top ten actively managed ETF providers, with the combined entity managing over 215 ETF strategies and $75 billion in total assets. CEO David Solomon emphasized the strategic importance of this move, highlighting the 47% CAGR of the active ETF market since 2020. Innovator's leadership team, including CEO Bruce Bond, will join Goldman Sachs Asset Management, bringing decades of experience in the ETF industry.

FAQ 🧭
What is the significance of this acquisition? — This transaction adds $28 billion in assets and expands Goldman Sachs' capabilities in innovative ETFs, particularly in investment strategies with clear outcomes and linked to Bitcoin.

How much is this acquisition worth? — The deal is valued at approximately $2 billion and will be paid for in a combination of cash and equity.

When is the acquisition expected to close? — The transaction is expected to close in the second quarter of 2026, subject to regulatory approval.

What unique ETF capabilities does Innovator offer? — Innovator is known for its ETFs with clear results, including innovative Bitcoin-linked products with downside protection.

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Bitcoin plunged on the first day of December, falling from 91K to 86K, driven by a wave of bearish catalysts from Asian markets. Sentiment remains fragile as we enter a crucial month, despite improved US liquidity conditions and rising expectations of interest rate cuts.

BTC price drop and liquidity concerns impact global markets
Bitcoin fell to $86,000 in early Asian trading, almost erasing its recovery during last week's Thanksgiving holiday. The sudden pullback, occurring within hours, highlights BTC's sensitivity to global liquidity signals, particularly those from Asia.

The latest decline began with major market news in Japan and China. Hawkish comments from Bank of Japan Governor Kazuo Ueda prompted traders to sharply increase their expectations for a December rate hike, pushing the yield on Japanese two-year government bonds to 1% and pricing in a 76% probability of policy tightening. Meanwhile, China's non-manufacturing PMI fell into contraction territory for the first time in three years, reigniting concerns about a weakening economic engine in the region.

These developments have prompted traders to reassess whether global liquidity will grow as significantly as expected, even as the U.S. backdrop becomes increasingly favorable for risk assets.

Market jitters intensified when Strategy CEO Phong Le suggested the company might sell its BTC holdings if its share price fell below net asset value and alternative financing avenues dried up. This statement triggered rapid liquidations and a series of forced sell-offs, adding pressure, especially ahead of the possibility that Strategy might be excluded from major Nasdaq indices during its December 12 review.

QCP's December 1st market update indicates that broader macro forces remain constructive for cryptocurrencies. The expectation of a December rate cut on Kalshi has risen to 87%, while the probability of cryptocurrency-supporting economist Kevin Hassett becoming the next Federal Reserve Chairman is 66%. Even spot BTC ETFs have seen a return of net inflows, typically a bullish sign.

However, price action remains stubbornly detached from these tailwinds. A corrective move is possible after BTC rebounded 15% from its 81K low, but the speed of the decline highlights that the market remains dominated by fragile sentiment and liquidity-driven positioning.

Frequently Asked Questions 📊
Why did Bitcoin drop to 86K today?
The rapid decline was triggered by macroeconomic shocks in Asia and a sell-off related to Strategy.
Is the broader macroeconomic environment still supportive?
Yes, liquidity in the United States is improving, and the likelihood of interest rate cuts is increasing.

Does the inflow of ETF funds help BTC?
The return of net inflows into spot ETFs provides a positive sign.
What will determine BTC's next move?
Liquidity trends and Strategy's liquidity will play a key role in the next few trades.

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A cybersecurity breach caused the crypto platform Upbit to suspend transfers and rebuild parts of its wallet infrastructure, while investigators reviewed unusual activity. The exchange assured customers that their assets remained fully protected.

Upbit races to strengthen its systems following security vulnerabilities.
On November 28, South Korean cryptocurrency exchange Upbit issued a statement, announced by Oh Kyung-seok, CEO of Upbit operator Dunamu, stating that the platform had suffered a cyberattack. The exchange suspended deposits and withdrawals of digital assets and began structural modifications to its wallet operations to mitigate the impact of the incident.

"I sincerely apologize for the inconvenience caused to our members by the cyberattack," the manager said in a translated statement. He added:

This vulnerability is a direct result of Upbit's poor security management, and there are no excuses.

"Upbit prioritizes member protection and promises that there will be no loss of member assets," the executive emphasized. The platform has reported the cyberattack to the relevant authorities as required by law and is investigating the cause and scope of the incident.

The exchange stated that unusual activity in a Solana-related wallet on November 27th triggered an immediate internal review. Analysts analyzed blockchain data, identified the issue, and implemented controls. Upbit noted that the team tracked suspicious transactions, froze assets leaving the platform, and continues to assist authorities in accordance with applicable regulations.

“Upbit has identified approximately 44.5 billion won (US$30,311,090) in damaged assets. Members’ total assets are worth approximately 38.6 billion won, of which approximately 2.3 billion won have been frozen. Our own assets are approximately 5.9 billion won,” the CEO explained, adding:

We reiterate that the damaged assets of our members have been fully compensated using assets held by Upbit.

South Korean authorities have launched a formal investigation into the vulnerability, with early indications suggesting a possible link to the Lazarus Group, a cyber hacking group suspected of having ties to North Korea. Executives stated that the company activated emergency protocols, strengthened hosting and internal processes, and conducted a broad review of its security systems. While the incident highlights the risks of centralized platforms, cryptocurrency proponents argue that the transparency of blockchain supports post-incident analysis, and that diversified hosting structures can mitigate the concentration of risk.

Frequently Asked Questions 🧭
What triggered Upbit to suspend deposit and withdrawal services?
Upbit suspended all digital asset flows after detecting unusual activity in wallets associated with Solana, prompting an immediate investigation into the cyberattack and security upgrades.
How much financial loss did this vulnerability cause to Upbit and its customers?
The total value of assets affected by the attack was approximately 44.5 billion Korean won. The exchange stated that it has fully compensated for the loss using Upbit's reserves to protect customer balances.

What corrective measures did Upbit take to restore operational security?
The company activated an emergency protocol, froze suspicious transactions, strengthened its escrow system, and began a structural redesign of its wallet operations.
Why is this incident significant for investors and the broader cryptocurrency market?
This vulnerability highlights the flaws in centralized exchanges—suspected to be linked to Lazarus Group—while underscoring the importance of transparent blockchain value analysis and diversified custody models for risk mitigation.

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American economist Paul Krugman said that the recent decline in Bitcoin reflects the waning political influence of US President Donald Trump.

The link between Bitcoin and pro-crypto politics
American economist and Nobel laureate Paul Krugman has intensified his criticism of Bitcoin (BTC), claiming that the cryptocurrency's recent price movements, including its drop to $80,500 on November 21, have turned it into a "[US President Donald] Trump trade." He believes this decline reflects the weakening of the US leader's dominance within the Republican Party.

Krugman has long been a critic of the Trump administration and has attacked then-presidential candidates for supporting Bitcoin, deeming it "economically useless." He has also questioned whether donations from large tech companies would help candidates who support cryptocurrencies to succeed in the 2024 U.S. election.

Since winning the presidency and taking control of Congress, Republicans have successfully pushed through legislation supporting cryptocurrencies , while the White House has overturned controversial orders from the previous administration targeting the cryptocurrency industry. These political actions are widely seen as helping to push BTC into the mainstream and fueling its record high in October.

Recent price declines and "cultism"
However, since reaching a peak of just over $126,000, the top cryptocurrency has plummeted, at one point trading 35% below its peak. While it has recovered somewhat since then, Bitcoin's annual percentage gain is close to zero at the time of writing. Nevertheless, many BTC proponents still predict a rebound, expecting the cryptocurrency to return to prices above $100,000 by the end of the year.

Interestingly, in a blog post on November 24, Krugman acknowledged that BTC might rebound, but he attributed this potential recovery to its "cult-like" nature rather than fundamentals. He claimed that this cult status allows the cryptocurrency to "recover from setbacks and scandals that would sink any normal investment."

Krugman further argued that Bitcoin is essentially a tool being used by what he calls "financial predators," who are taking advantage of the Trump administration's pro-crypto stance. He cited a specific example: "More broadly, cryptocurrencies, as I've suggested, are increasingly becoming tools for financial predators, and the Trump administration is extremely pro-predator. Ask Changpeng Zhao, the founder of Binance, who was found to have violated U.S. anti-money laundering laws—and then was pardoned by Trump," he wrote.

However, the economist asserted that Trump's political power has "significantly diminished," as evidenced by the "Democratic landslides" in Virginia and New Jersey on November 4, which also limits his ability to continue pushing cryptocurrencies.

Frequently Asked Questions ❓
Why did Paul Krugman call Bitcoin the "Trump trade"? He linked the decline in BTC to Trump's diminishing influence in American politics.

How has Bitcoin performed recently? BTC has fallen from $126,000 to $80,500, wiping out most of its annual gains.

Does Krugman expect Bitcoin to recover? Yes, but he attributes any rebound to "cult-like" rather than fundamentals.

What political factors are influencing Bitcoin in the US? Pro-cryptocurrency laws and Trump's support have driven adoption, but his waning influence may limit momentum.

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U.S. Bank tests custom stablecoin development on Stellar blockchain, highlighting innovative approaches to programmable digital banking infrastructure.

U.S. Bank is conducting a strategic exploration of stablecoin technology using the Stellar network, partnering with PwC and the Stellar Development Foundation (SDF). The initiative focuses on leveraging Stellar’s robust blockchain infrastructure, which offers 99.99% uptime, rapid 3-5 second settlements, and powerful asset control mechanisms critical for regulated financial institutions.

Mike Villano, Senior Vice President at U.S. Bank, emphasized the platform’s key features, particularly its ability to freeze and unwind transactions—a crucial capability for maintaining banking-grade security and compliance. The collaboration represents a significant step towards creating more flexible, efficient digital asset infrastructure for mainstream financial services.

🧭 FAQs
• Which blockchain is U.S. Bank testing? The Stellar network.

• What are Stellar’s key technical capabilities? 99.99% uptime, 3-5 second settlements, and built-in asset control features.

• Who are the partners in this initiative? U.S. Bank, PwC, and the Stellar Development Foundation.

• What is the primary goal of the project? To develop custom stablecoin issuance with robust regulatory and transactional controls.

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Despite limited local access at present, the European Central Bank has stated that the rapid growth of stablecoins poses a concern for financial stability in the eurozone.

The European Central Bank (ECB) released a report on Monday authored by Senne Aerts, Claudia Lambert, and Elisa Reinhold, noting that the global stablecoin market has now exceeded $280 billion in capitalization, primarily dominated by dollar-denominated tokens (USDT and USDC), while euro-denominated stablecoins remain small, at approximately €395 million. The ECB highlighted risks such as decoupling, bank runs, and linkages with traditional finance.

The report warns that large stablecoin reserves—comparable to top money market funds and heavily invested in short-term U.S. Treasury bonds—could trigger a run and spread to bank funding and the U.S. Treasury market, highlighting cross-border regulatory arbitrage as a key vulnerability in the Eurozone. The ECB states that the risks in the Eurozone are currently limited, but calls for close monitoring and stronger global regulatory coordination, referencing the recommendations of MiCAR and the G20/Financial Stability Board.

🧭 Frequently Asked Questions
• What and when did the European Central Bank (ECB) release its report on stablecoins? The ECB released its report on stablecoins on Monday, November 24, 2025.
• How large are stablecoins relative to the crypto market and the Eurozone? Global stablecoins exceed $280 billion, while the supply in euro terms is approximately €395 million.
• What are the main financial stability risks in the Eurozone? Risks include depegging, bank runs, reserve fires, and cross-border regulatory arbitrage affecting Eurozone banks.
• What are the ECB's recommended regulatory steps for the Eurozone? The ECB urged the implementation of MiCAR, greater global alignment, and the adoption of G20/FSB and Basel recommendations.

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While markets initially reacted with uncertainty to Japan’s massive stimulus, the long-term effects of a weak yen and measures to defend it could propel bitcoin to new records, even amid the current uncertain macroeconomic backdrop.

Japanese Yen Weakness Might Unleash Record-Breaking Bitcoin Bull Run
The Facts

The current weakness of the Japanese yen, which hit a 10-month low against the U.S. dollar last week, has raised the possibility of igniting the cryptocurrency market after the downturn experienced over the last two months.

While the market reacted poorly to the approval of a massive stimulus focused on helping the Japanese people overcome inflation, the long-term implications of such a move can revitalize the crypto outlook for 2026.

The injection of fresh funds in Japan might carry the yen to record lows, prompting an intervention from the Bank of Japan financed by the Federal Reserve to defend the currency as it seeks to maintain equilibrium between the yuan, the dollar, and the yen.

This would, consequently, allow the Federal Reserve to escape a dire situation for U.S. industries that would otherwise be compelled to move more of their manufacturing processes offshore.

Arthur Hayes, co-founder of Bitmex, had referred to this process last year, stating that any intervention to stabilize the yen would constitute a catalyst for bitcoin and the cryptocurrency market.

Why It Is Relevant

This stabilization measure will have to be expertly staged, as the Federal Reserve might overplay its hand, weakening the dollar too much. If the dollar nosedives as a result of this move, it risks losing its reserve status.

Nonetheless, this would unwind over an extended timeframe, with Hayes calculating that a yen move towards 200 yen per dollar might spur the beginning of such a trend.

Bitcoin would become a trivial way of hedging against this action by buying any of the U.S.-listed exchange-traded funds (ETFs).

Looking Forward

Hayes seems sure of the outcome of this process, stating that “when something is done about the weak yen, I will mathematically guestimate how flows into the Bitcoin complex will ratchet the price to $1 million and possibly beyond.”

FAQ
What recent economic issue has impacted the Japanese yen?
The Japanese yen recently hit a 10-month low against the U.S. dollar, raising concerns about its long-term stability.
How might the yen’s weakness affect the cryptocurrency market?
Experts suggest that the yen’s decline could revitalize the cryptocurrency market, particularly for Bitcoin, by creating conditions favorable for price increases in 2026.

What role could the Federal Reserve play in stabilizing the yen?
The Federal Reserve may intervene to stabilize the yen, which could relieve pressure on U.S. industries and impact the dollar’s standing as a global reserve currency.
What prediction did Arthur Hayes make regarding bitcoin’s future price?
Arthur Hayes believes that interventions to stabilize the yen could drive bitcoin’s price to $1 million or more, serving as a hedge against potential economic shifts.

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XRP is accelerating its leap into mainstream investment today, as Bitwise's new XRP ETF highlights rising demand for payment layers, expanding tokenization activity, and investors' growing appetite for the practicality of blockchain.

Bitwise XRP ETF makes its debut on the New York Stock Exchange today.
Market enthusiasm surged after crypto asset management firm Bitwise announced that its Bitwise XRP ETF would begin trading today on the New York Stock Exchange under the ticker symbol XRP. The company detailed a 0.34% management fee, a one-month waiver for the first $500 million in assets, and providing investors with spot access to XRP.

Bitwise shared on the social media platform X on November 20:

Today is a big day! We are launching the Bitwise XRP ETF. This is a significant step forward for XRP, the world's third-largest crypto asset, with the goal of reshaping the global payments market.

The asset management firm highlighted XRP's longevity, its multi-billion dollar market value, and its ambition to reshape global payment flows. The firm also emphasized the momentum of tokenization on the XRP Ledger, with US Treasury bonds, digital commercial paper, private credit, and money market funds beginning to emerge. This activity, combined with settlement times of a few seconds and extremely low network fees, has boosted investor interest in payment layer blockchains.

Following Canary Capital's earlier launch of its own XRP ETF, Bitwise Asset Management's XRP ETF has been launched, marking a continued expansion of XRP-based investment products. Other issuers, including Franklin Templeton and 21shares, are also preparing to launch similar products as market interest in XRP-focused exchange-traded funds grows.

Market observers suggest that today's launch could inject new life into regulated crypto investment products, as traders react to the increased issuance of real-world assets on on-chain platforms. XRP's alignment with the $250 trillion cross-border payments sector could attract allocators looking for networks with clear utility. Bitwise notes that its mission is to broaden access to key crypto topics through structured investment instruments.

Frequently Asked Questions ⏰
When will the Bitwise XRP ETF begin trading?
It began trading today on the New York Stock Exchange under the ticker symbol XRP.
What is the fee structure of the Bitwise XRP ETF?
It charges a 0.34% management fee and waives it for the first $500 million of assets.

Why is tokenization on the XRP Ledger attracting attention?
New tokenized assets, including government bonds and private credit, are emerging on the ledger, boosting real-world asset activity.
What makes XRP attractive in the cross-border payments industry?
Its fast settlement speed and low fees meet the needs of massive global payment flows and institutional efficiency.

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The cryptocurrency market experienced a brutal flash crash in the early hours of Nov. 21, driving bitcoin from above $85,000 to a low of $82,032 in minutes. The sell-off caused the total crypto market capitalization to drop below $3 trillion.

Altcoins Decimated
In a brutal flash crash during the early hours of Nov. 21, bitcoin ( BTC) tumbled from just above $85,000 to a low of $82,032 in a matter of minutes, bringing the cryptocurrency within range of pessimistic predictions made by figures like BitMEX founder Arthur Hayes and veteran trader Peter Brandt. Although BTC made an almost immediate recovery, rallying back to $84,000, it remained down nearly 14% over seven days and more than 22% over the last 30 days.

With bearish sentiment seemingly growing, many analysts and bettors on prediction markets are increasingly wagering on the sell-off continuing, with BTC potentially ending the year trading under $80,000.

The flash crash decimated the altcoin market. Ethereum ( ETH) plunged to just above $2,700, marking its lowest point in four months. XRP last traded near $1.80 in the days following U.S. President Donald Trump’s “Liberation Day” tariff announcement, which roiled global markets and drove BTC down to $76,000

BNB, which had recently trended against the market, tumbled to $828 before recovering to trade around $834. The story was similar for many high-cap altcoins, which saw double-digit or near double-digit losses in 24 hours. Overall, the sell-off drove the crypto economy’s total market capitalization below $3 trillion, bringing the cumulative market losses since the start of the week to more than $300 billion.

As expected, the sharp price movement triggered a massive liquidation event, wiping out $1.93 billion in leveraged positions and affecting nearly 400,000 traders. Coinglass data (3:40 a.m. EST) showed BTC accounted for $965 million of the liquidations, with liquidated long positions constituting more than 90% of those losses.

While liquidated longs dominated across most assets, the reverse was true for Zcash (ZEC), where $7.54 million in short positions were liquidated versus $6.96 million in wiped-out longs.

FAQ 💡
What happened to bitcoin on Nov. 21? BTC plunged to $82,032 before rebounding to $84,000.

How did altcoins react worldwide? ETH fell below $2,700, XRP hit $1.84, and BNB dropped to $828.

What was the overall impact? Crypto market cap sank below $3 trillion, losing over $300 billion in a week.

How many traders were affected? Nearly 400,000 traders were liquidated, with $1.93 billion wiped out in positions.

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Growing optimism in Washington has boosted expectations for clarity on U.S. cryptocurrencies, as renewed push from Coinbase CEO Brian Armstrong suggests renewed legislative momentum, with hopes that the law will soon reach the president's desk, promising clearer standards, confidence, and future growth.

Armstrong once again sparked debate in Washington with his bold push for the CLARITY bill.
Legislative momentum is picking up in Washington, and expectations for U.S. cryptocurrency regulations are being reshaped. Coinbase (NASDAQ: COIN) CEO Brian Armstrong shared on social media platform X on November 18 that he has returned to the capital to continue pushing for market structure legislation, noting that a bill on clarity for the digital asset market could soon be on the president's desk.

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Coinbase CEO stated in detail:

Back in Washington to push for market structure legislation. A lot of good progress has been made since my last visit, it's great to see all this. Hopefully, this will be discussed in December, and hopefully it will reach the president's desk soon.

His recent visit followed a trip in October where he engaged extensively with lawmakers, stating, “Over the past two days, I’ve met with 25 senators working toward clarity on market structure. I’m pleased to report that the urgency and momentum are very high!” He also told policymakers, “We appreciate the efforts of senators from both parties to push for clear rules on digital assets during the government shutdown. Building a better financial system requires strong rules to protect consumers and foster innovation in America.”

Armstrong also emphasized on November 18:

"This bill will further unlock cryptocurrency in the United States, establishing clear rules that will benefit all businesses, protect customers, and unleash the power of builders. Let's keep working on it!"

His multiple visits to Washington, D.C., indicate that bipartisan negotiations are entering a decisive phase. Analysts suggest the CLARITY bill could establish domestic rules for exchanges, brokers, and token issuers, reducing uncertainty surrounding custody, settlement, and liquidity. Supporters argue that clear standards can encourage institutional participation and retain American talent, while critics believe clear regulations can strengthen consumer protections. Pro-crypto supporters add that the legislation could modernize capital markets and help maintain U.S. leadership as other jurisdictions advance digital asset frameworks.

FAQ ⏰
What has propelled the CLARITY Act forward?
Policymakers are seeking standardized rules for digital assets to reduce uncertainty and expand institutional participation, which has driven the Act's progress.
What impact might the new crypto market structure rules have on US exchanges?
They could define the operations of exchanges, brokers, and token issuers, and specify custody, settlement, and liquidity requirements.

Why are industry leaders driving on-chain capital formation?
They believe that blockchain-based financing is more efficient, transparent, and fair, benefiting both entrepreneurs and investors.
What role has Washington’s involvement played in advancing crypto legislation?
Frequent meetings with lawmakers and officials reflect growing bipartisan support for clear digital asset regulations.

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Mastercard extends encrypted credentials to self-hosted wallets using Polygon to enable verified username-based aliases.

On November 18, 2025, Mastercard, Polygon Labs, and Mercuryo announced that Mastercard crypto credentials will extend to self-custodied wallets. Polygon was chosen as the initial blockchain network, and Mercuryo will be the first issuer to introduce verified users and create alias-based credentials. This launch introduces human-readable, verified aliases (and optional soul-bound tokens on Polygon) that users can link to their self-custodied wallets to streamline transfers and reduce address duplication errors.

This move introduces a trusted verification layer to the non-custodial environment—improving trust and interoperability while preserving user control—leveraging Polygon Proof-of-Stake's low cost, high throughput, and recent protocol upgrades to meet payment-grade performance. Mastercard's Raj Dhamodharan stated that this makes digital assets "more accessible," while Mercuryo will handle authentication and credential issuance. Availability, issuer onboarding, and specific credential functionality will be rolled out based on partner and local legal requirements.

🧭 Frequently Asked Questions
• Which users can access Mastercard Crypto Aliases on Polygon? — Initial access is through verified users and partners via Mercuryo, gradually expanding to supported jurisdictions.
• Which blockchain supports the verified alias system for self-custodied wallets? — Polygon Proof-of-Stake is the first network selected to support this launch.
• Do users retain full control of their wallets when using verified aliases? — Yes; the alias is linked to the self-custodied wallet while the user retains full control of their private key.
• How does Mastercard Crypto Aliase improve transfers for users in the UK and globally? — It replaces long addresses with verified, human-readable aliases to reduce errors and build trust across jurisdictions.

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Bitcoin and ether ETFs experienced significant outflows, resulting in a combined loss of $1.84 billion over the week. Solana ETFs, however, continued their upward momentum, securing another week of inflows despite broad market weakness.

Another Red Week for BTC and ETH ETFs as Solana Holds Its Winning Streak
Some weeks unfold slowly; others tell the story of a market shifting beneath the surface. November 10–14 delivered the latter, with bitcoin and ether exchange-traded funds (ETFs) facing relentless pressure while solana quietly extended its winning streak. The contrast was striking, especially as major funds saw billions in assets rotate out.

Spot bitcoin ETFs recorded a $1.11 billion net outflow, marking their third consecutive negative week and the second billion-dollar outflow in succession. Ether ETFs saw $729 million pulled from the ecosystem, marking their third-largest weekly exit in history. Meanwhile, solana ETFs stood alone in the green, collecting $46.34 million in fresh inflows.

Bitcoin ETF Flows
Blackrock’s IBIT suffered the heaviest damage of the week, bleeding -$532.41 million as institutional selling concentrated almost entirely in the fund’s massive liquidity pool. Grayscale’s Bitcoin Mini Trust posted a steep -$289.92 million outflow, while its GBTC fund saw a -$112.64 million exit over the week. Fidelity’s FBTC also endured significant weakness, closing the week with -$88.99 million in redemptions.

Bitwise’s BITB wasn’t spared either, finishing the period with -$38.61 million in redemptions, while Invesco’s BTCO faced a tough correction with -$30.80 million in exits. Vaneck’s HODL closed the week with a modest -$8.34 million outflow, while Valkyrie’s BRRR shed -$3.05 million.

Wisdomtree’s BTCW saw a single-day pullback amounting to -$6.03 million, as Franklin’s EZBC also saw net selling pressure, giving up -$5.69 million. Ark & 21Shares’ ARKB, however, saw a slim $1.68 million inflow, a lone bright spot among BTC products. In total, the twelve spot bitcoin ETFs collectively registered -$1.11 billion in redemptions.

Ether ETF Flows

Blackrock’s ETHA was at the center of ether’s losses, surrendering a massive -$421.37 million for the week. Grayscale’s Ether Mini Trust added another -$135.37 million in redemptions, and ETHE contributed further to the downturn with -$121.89 million. Fidelity’s FETH wasn’t spared either, recording $37.30 million in exits across the period.

Bitwise’s ETHW saw a smaller but still meaningful -$4.44 million outflow, Invesco’s QETH saw -$4.42 million in exits, and Vaneck’s ETHV rounded out the week with -$3.78 million in losses. Altogether, the nine ether ETFs combined for a -$729 million weekly outflow, leaving not a single product in the green.

Solana ETF Flows

Solana ETFs once again separated themselves from the broader trend. Bitwise’s BSOL led the charge with a strong $33.97 million inflow, continuing its run as the category’s dominant liquidity magnet. Grayscale’s GSOL added another $12.37 million, marking the newly launched product’s best weekly showing yet. Together, these flows pushed solana to a $46.34 million net weekly inflow, its third straight week of gains.
In a week defined by heavy selling across bitcoin and ether products, solana emerged as the lone bright spot. The sharp divergence underscores a deeper shift in investor behavior: capital isn’t exiting crypto, it’s rotating, concentrating in assets showing momentum and narrative strength.

FAQ📉

Why did bitcoin and ether ETFs post another red week?
BTC and ETH ETFs saw a combined $1.84 billion in outflows as investors continued rotating out of major assets.
Which funds were hit hardest during the sell-off?
Blackrock’s IBIT and ETHA led the week’s withdrawals, accounting for the largest share of redemptions.
How did solana ETFs perform amid the broader weakness?
Solana ETFs secured $46 million in inflows, marking their third consecutive positive week.

What does this divergence signal for the crypto ETF market?
Capital is shifting toward assets with stronger momentum, showing rotation rather than a full market retreat.

[Quid Miner @QuidMiner]

Alibaba’s cross-border e-commerce division said it will launch a new artificial intelligence (AI) subscription feature and explore using JPMorgan Chase’s tokenization technology to build a stablecoin-like tokenization system for B2B payments.

https://t.co/L5z8saQBcF President Kuo Zhang told CNBC that the plan aims to streamline cross-border settlements by using tokenized fiat currency, thereby enabling faster and more unified payments on its global platform. The division also launched Agentic Pay, an AI-powered payment track that Alibaba says will automate settlement steps and dispute resolution through smart contracts, although Alibaba did not provide a specific launch date beyond its desire for rapid deployment.

The plan, initially targeting tokenized US dollars and euros, seeks to leverage JPMorgan Chase’s existing tokenization stack to enable stablecoin-like settlements within the platform for importers, exporters, and manufacturers who rely on Alibaba’s $35 billion business network. Company executives describe the system as a deposit-backed settlement tool rather than a public stablecoin. Details regarding regulatory approvals and partner banks outside of JPMorgan Chase have not yet been disclosed.

Frequently Asked Questions 🧭
What did Alibaba announce on November 14, 2025? — https://t.co/L5z8saQBcF stated that it will add an AI subscription service and leverage JPMorgan Chase's tokenization technology to build a tokenized, stablecoin-like payment system.
How will tokenization be used for cross-border payments? — The system will use tokenized fiat currencies (initially USD and EUR) and AI smart contracts to streamline B2B settlements on Alibaba's global platforms.
Is this a public stablecoin? — Alibaba describes the network as a deposit-backed settlement-like stablecoin, not an open public stablecoin.
When will the payment system launch, and who will be involved? — Alibaba hopes to accelerate deployment and is collaborating with JPMorgan Chase's tokenization technology, but has not given a specific launch date or a complete list of partners.

[Quid Miner @QuidMiner]

Harvard University has expanded its Bitcoin ETFs holdings by 257% according to a recent filing. That is despite the fund witnessing record outflows in the last few days.

Harvard Doubles Down on Bitcoin ETF Holdings
In a filing, Harvard revealed the ownership of 6.81 million shares of BlackRock’s spot Bitcoin ETF, IBIT. As of September 30, this was valued at $442.8 million. This represents a 257% increase from its June holdings of 1.9 million shares.

At the same time, the university also almost doubled its gold-backed ETF exposure. They reported 661,391 shares of GLD valued at $235 million. This is a 99% jump from its previous position.

While the recent price crash made retail investors see losses, Harvard seems to be looking at the long-term potential.

This change comes despite earlier skepticism by Harvard. As far back as 2018, a Harvard economist was predicting that Bitcoin was more likely to collapse to $100 than ever cross $100,000 by 2028. However, the coin has rallied to as high as $120,000 way before the economist’s timeline.

Most importantly, it places Harvard in the top 30 institutional holders of IBIT. Bloomberg analyst Eric Balchunas said that typically, endowments are hesitant to invest via ETF structures. This Harvard allocation sets a tone for other institutions.

Meanwhile, another institution, Al Warda Investments, also saw increase. They boosted their Bitcoin fund holdings to 7.96 million IBIT shares worth $517.6 million. This is a 230% jump since June.Withdrawal Continues In The ETF Market

According to the data from SoSoValue, the BTC products continued with their 3-day streak of outflows. It saw another $492 million in withdrawals during trading yesterday. During trading on Thursday alone, the BTC fund recorded $869.9 million in outflows, which now ranks as the second-largest since their launch.

Source: SoSoValue

This is taking a toll on Bitcoin’s price. In the last 24 hours alone, the crypto decline 1.24% to $96,261. Yesterday, it fell to around $95k before stabilizing.

Nonetheless, it remains bullish on some metrics. Since their inception in early 2024, Bitcoin ETFs have seen more than $60 billion in net inflows. Trading volume also crossed $1.5 trillion. BlackRock’s IBIT alone now controls more than half of the U.S. BTC fund market.

To add to that, Ethereum funds have also witnessed heavy outflows. Essentially, only the Solana ETF and XRP ETF still appear to be creating inflows of funds.

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Federal Reserve Governor Stephen Milan pointed out that stablecoins are an innovative tool that can provide user assistance to regions with limited access to dollar assets. Milan estimates that stablecoins could help meet approximately $3 trillion in foreign demand for dollar assets over the next few years.

Federal Reserve's Milan: Stablecoins could drive global demand for dollar assets
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Federal Reserve Governor Stephen Milan mentioned the opportunity for stablecoins to perpetuate the dollar's dominance internationally, solving problems that cannot be addressed through traditional financial channels.

In his speech as part of the BCVC Summit 2025 , Milan highlighted the innovation that stablecoins bring to both domestic and international jurisdictions.

He acknowledged that stablecoins have increased foreign demand for U.S. Treasury bonds, and explained that one advantage of stablecoins is their ability to be freely traded anywhere in the world.

Milan emphasized that this means "potentially transformative change" for consumers and businesses outside the United States, particularly in emerging markets or economies with payment restrictions.

“Stablecoins could provide financially repressed people with easier access to these global public goods and allow them to evade stringent financial restrictions,” he assessed, estimating that global demand for U.S. assets will grow by $1 trillion to $3 trillion in the coming years.

Finally, he acknowledged that foreign markets are key to the growth and adoption of stablecoins, claiming that these stablecoins help "meet the untapped demand for dollar assets from depositors in regions with limited dollar access." In contrast, the US and other countries already have ample yield-generating instruments.

Why it is important

Milan's statement positions stablecoins as a tool for U.S. monetary expansion, leveraging the status of the U.S. currency as a savings and payment instrument and its limited access in certain regions.

His views align perfectly with the White House's position, which included this use case as official policy in its January executive order, "Strengthening U.S. Leadership in Digital Financial Technologies."

Looking to the future

As Milan commented, demand for stablecoins is expected to continue to grow internationally, serving as a proxy for the US dollar in various countries. However, whether this demand will be as large as he estimates, and its impact on the growth of US debt, remains to be seen.

Frequently Asked Questions
What did Stephen Milan say about the role of stablecoins in the US dollar?
Milan emphasized that stablecoins can perpetuate the dollar's hegemony internationally and provide solutions to problems that traditional financial systems cannot address.
How do stablecoins benefit US Treasury bonds and global markets?
Stablecoins increase foreign demand for US Treasury bonds by allowing them to be freely traded in various jurisdictions, particularly emerging markets.

What impact might stablecoins have on financially repressed consumers?
Milan points out that stablecoins could provide these consumers with easier access to the global financial system, helping them circumvent strict financial restrictions.
How do Milan's views align with U.S. government policy?
His views support the White House's executive order, advocating for stablecoins as a way to strengthen U.S. leadership in digital financial technology.

[Quid Miner @QuidMiner]

At the start of the new week, exchange-traded fund (ETF) activity was relatively subdued, with Bitcoin seeing only $1.15 million in inflows and Ethereum funds remaining unchanged. However, the Solana ETF maintained its growth momentum, adding $6.78 million in investment inflows.

Crypto ETFs had a quiet start, with Solana remaining in the green.
A quiet Monday, November 10th, marked the start of a new week of trading for digital asset ETFs, a stark contrast to the volatility seen at the beginning of November. The Bitcoin ETF barely managed to stay in the green zone, while the Ethereum ETF remained completely flat. Solana continued to see steady inflows, indicating that investors are increasingly optimistic about the growing appeal of the third-largest crypto network.

The Bitcoin ETF recorded a modest inflow of $1.15 million, all from Bitwise's BITB. The other 11 funds saw no trading activity, indicating a cautious start for institutional participants this week. Despite the small inflows, trading volume remained strong at $4.15 billion, and total net assets rose slightly to $141.54 billion.

The Ethereum ETF experienced one of its quietest trading days since its launch. There were no inflows or outflows across the nine funds, indicating a temporary pause in investor activity after several weeks of volatility. Daily trading volume was $1.53 billion, while net assets remained at $23.43 billion.

The Solana ETF has maintained growth for 10 consecutive days.

The focus is once again on Solana ETFs, which continue to perform strongly with sustained capital inflows. Bitwise's BSOL attracted $5.92 million, while Grayscale's GSOL brought in an additional $854,480, totaling $6.78 million. Their combined net assets rose to $598.36 million, with trading volume reaching $39.63 million, further demonstrating investors' growing enthusiasm for Solana exposure.

This could have been a quiet day for Bitcoin and Ethereum, but Solana's ETF prevented the new week from starting uneventfully. The continued green trend suggests that even in a calm market, investor curiosity about the network's momentum hasn't waned.

Frequently Asked Questions
How will crypto ETFs start the new week?
Bitcoin ETFs saw inflows of $1.15 million, Ethereum remained stable, while Solana led the gains.
What drove the Bitcoin ETF flows on Monday?
All the small inflows into Bitcoin came from Bitwise's BITB, indicating cautious institutional activity.

How did the Ethereum ETF perform?
The Ethereum ETF saw no inflows or outflows, marking one of the quietest trading days since its launch.
Why does Solana continue to attract attention?
The Solana ETF attracted $6.78 million in new capital, continuing its trend of continuous investor inflows.

[Quid Miner @QuidMiner]

The Central Bank of Brazil stated that the recent suspension of the blockchain used for Drex is temporary. The bank plans to continue using decentralized technology in the future, including issuing its own currency for transactions related to tokenized settlement.

Central Bank of Brazil: The Drex digital currency project is still underway.
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The Central Bank of Brazil clarified the current status of drex, a multi-year central bank digital currency (CBDC) project that had previously terminated its role as the decentralized platform upon which the first two pilot phases were based.

According to a statement released by local media , the reason is that the third phase of the pilot program will abandon blockchain and instead focus on allowing tokenized assets to be registered as collateral for other transactions.

"The third phase of the drex pilot program will begin next year, focusing on using assets as collateral for credit operations," the bank said.

Nevertheless, the agency emphasized that this abandonment is only temporary, and building a comprehensive platform for using smart contracts in an interoperable and programmable manner remains key to Drex's future.

The bank announced:

The tokenization of assets on the platform and the use of settlement currencies provided by central banks remain the project's ultimate goals.

There is no doubt that issuing some kind of digital currency for settlement is still in the institution's plans and remains part of Drex's roadmap.

Why it is important

Reports that the project has abandoned its retail digital targets, coupled with the banking authorities' statement ignoring Drex's payment capabilities, suggest that at least the institution is shifting its priorities.

Even with these comments, the authenticity of issued digital assets still faces technical challenges, as banks have yet to develop a method that can both maintain transaction privacy and allow regulators to review these activities.

Looking to the future

Brazil remains committed to issuing a digital currency but has failed to provide a launch date, emphasizing the experimental nature of the initiative. While stressing that it remains a priority, the central bank has also hinted that it is still a long way from completion, and its implementation remains uncertain.

Frequently Asked Questions
What recent updates has the Central Bank of Brazil made regarding the Drex project?
The Central Bank clarified that it has ended the decentralized platform of Drex and is now focusing on using tokenized assets as collateral in the next phase.
What will be the focus of the third phase of the Drex pilot project?
The third phase, which will begin next year, will focus on allowing tokenized assets to be used as collateral for credit operations.

Is digital currency still part of the Drex project?
Yes, the central bank reiterated its commitment to developing a comprehensive platform that includes digital currency features and smart contracts as part of the Drex roadmap.
What challenges does the project still face?
Central banks are facing technical issues, mainly concerning maintaining transaction privacy and allowing regulatory oversight, which makes implementation still uncertain.

[Quid Miner @QuidMiner]

The Bank of England's deputy governor pledged that the UK's stablecoin policy would be implemented swiftly, with a temporary holding cap.​

Bank of England Deputy Governor Sarah Breeden stated at a conference in London on November 5, 2025, that the UK will unveil its proposed stablecoin policy on Monday, aiming to get it "as fast as the US," while defending the planned caps of £20,000 for individuals and £10 million for businesses. Breeden indicated that the UK's more cautious stance stems from structural differences in mortgage financing, where mortgages are primarily provided by commercial banks rather than US institutions.

She emphasized that the cap is temporary and designed to protect bank balance sheets and the availability of mortgages to support the transition to wider stablecoin adoption, adding that it will be removed once risks diminish. Breeden called this timing "an excellent opportunity" for coordinated implementation, downplaying concerns that the UK would lag behind the US in generating a push. The proposed rules need to be negotiated and established through UK legal proceedings and may include exemption clauses.

🧭 Frequently Asked Questions
• When and where did Sarah Breeden make these comments? Sarah Breeden spoke at the London conference on November 5, 2025.
• What temporary stablecoin caps has the Bank of England proposed for the UK? The reported temporary caps are £20,000 for individuals and £10 million for businesses.
• Why is the UK taking a more cautious stance than the US? The UK mortgage market relies heavily on commercial bank lending and is more sensitive to stablecoin flows.
• When will the UK stablecoin policy be published and implemented? The Bank of England will publish its proposed policy on Monday, with final rules to be developed through UK regulatory processes.