Latest Crypto News | Bitcoin, Ethereum and Altcoin Updates

Italy’s financial regulator Consob has set a firm December 30 deadline for virtual asset service providers (VASPs) operating under Italy’s OAM registration to apply for authorisation under the EU Markets in Crypto-Assets (MiCA) regime. Firms must submit applications to be licensed as crypto-asset service providers (CASPs) by that date. Applicants may continue serving clients while applications are processed, but the transition ends on June 30, 2026, by which time authorities must reach a decision. VASPs that fail to apply must stop services by Dec. 30, return user funds and crypto assets, close contracts, post clear public notices and directly inform customers whether they will comply or exit. Consob warns investors to verify their provider’s plans and to request fund returns if they receive no communication. Italy’s implementing decree uses MiCA’s national flexibility to replace a simple registration model with a stricter authorisation regime, raising governance, transparency and control requirements for platforms. Traders should monitor platform announcements, possible market exits and asset withdrawals — moves that could cause short-term liquidity shifts and exchange flows. Primary SEO keywords: MiCA, Italy regulation, VASP compliance; secondary keywords: CASP authorisation, platform exits, asset withdrawals.

Texas has become the first U.S. state to allocate public funds to Bitcoin under the 2025 Texas Strategic Bitcoin Reserve Act. The law authorizes up to $10 million for the state’s Bitcoin reserve. The Texas Treasury Safekeeping Trust reportedly deployed roughly $5 million to buy BlackRock’s iShares Bitcoin Trust (IBIT) and the legislature authorized the remaining $5 million for direct, self-custodied BTC holdings. The purchase occurred amid ETF outflows, institutional caution and stalled federal crypto legislation. Supporters, including Governor Greg Abbott and the Texas Blockchain Council, describe the move as a long-term diversification and inflation-hedge strategy; critics warn of added volatility and political risk when public funds hold digital assets. The IBIT stake is small relative to Texas’s broader public-asset allocations, signaling a cautious, exploratory position rather than a major treasury reallocation. Traders should note the symbolic significance: state-level adoption may encourage further institutional ETF demand and policy experimentation, but the immediate price impact on BTC is limited given the modest position size. Key SEO keywords: Bitcoin, BTC, Texas, IBIT, Bitcoin Reserve, state treasury, self-custody.

Bitwise CIO Matt Hougan says fears that MicroStrategy will be forced to liquidate its Bitcoin are misplaced. In a December 2025 memo, Hougan notes MicroStrategy holds roughly 650,000 BTC with an average cost basis near $74,436 while Bitcoin trades above $92,000, providing a significant unrealized NAV buffer. The company raised about $1.4 billion in recent at‑the‑market share sales and has no principal debt due until 2027; annual interest and operating needs near $800 million can be covered by current cash reserves for roughly 18 months. CEO comments about a hypothetical last‑resort sale if liabilities exceeded assets and funding dried up were clarified by Hougan as not reflecting present conditions. Remaining risks include index reclassification guidance (MSCI) for firms with large crypto exposures and the firm’s use of convertible notes and leverage, which can amplify equity volatility. For traders: MicroStrategy’s BTC position remains profitable versus its cost basis, MSTR stock will likely stay sensitive to BTC price moves and equity-market sentiment, but immediate forced‑sale risk appears limited given cash on hand and deferred maturities.

Former Signature Bank executives Scott Shay and Jeffrey Wallis have launched N3XT, a Wyoming-chartered Special Purpose Depository Institution (SPDI) positioned as a blockchain-native bank for institutional clients requiring 24/7 instant USD settlement. N3XT will not engage in traditional lending; it says every deposit is backed one-to-one with cash or short-term U.S. Treasuries and will publish daily reserve reports. The bank will run on a private blockchain supporting programmable payments and interoperability with stablecoins and other digital assets, targeting crypto firms, FX desks, shipping and logistics businesses. Backers include Paradigm, HACK VC and Winklevoss Capital. N3XT is onboarding crypto customers now and emphasizes full liquidity of client funds to avoid risks that contributed to the 2023 collapses of Signature, Silvergate and SVB. Separately, former Binance.US CEO Brian Shroder’s 1Money launched a stablecoin orchestration platform and is building a zero-gas layer-1 payments chain; it raised $20M seed funding in 2025 and holds multiple U.S. money-transmitter licenses as it scales regulated stablecoin custody and payments services. Key SEO keywords: N3XT, blockchain bank, SPDI, stablecoins, reserves, instant USD settlement.

Grayscale launched its Chainlink exchange-traded product (ETP) GLNK on NYSE Arca and drew about $42 million of inflows on its first trading day, lifting assets under management to roughly $64 million. Early sessions showed roughly $13 million in GLNK intraday trading volume, tight bid-ask spreads and solid liquidity. The debut coincided with heightened activity in Chainlink’s native token: LINK’s spot price rose more than 6% and trading volume across exchanges jumped about 180%. Analysts noted the strong opening as evidence that regulated ETP wrappers can attract both institutional and retail capital to longer-tail crypto assets. The reports also flagged a Bitwise Chainlink product (CLNK) registered administratively at DTCC, which—pending exchange listings and approvals—could broaden regulated access and distribution. Key trading takeaways: $42M day-one inflows, ~ $64M AUM post-debut, ~ $13M early GLNK volume, LINK price +~6%, LINK exchange volume +~180%; tight spreads imply manageable slippage for ETP trades; potential future listings (e.g., CLNK) may add distribution and liquidity over time.

Grayscale launched a spot Chainlink (LINK) ETF on Dec. 3, recording $13m in first‑day trading volume and $42m of inflows. Bloomberg analysts called the debut a strong showing for longer‑tail altcoin ETFs, and Grayscale CEO Peter Mintzberg said it reflected broader market demand. Bitwise has also filed for a competing spot LINK ETF, potentially expanding institutional access. On‑chain metrics showed LINK futures open interest rose from about $194m to nearly $240m after the launch, indicating increased speculative activity. LINK’s price jumped roughly 8.6% on the announcement and extended a weekly recovery of over 20% (from around $12 to $15) before easing to about $14.4 — still roughly 47% below a recent $27 peak. Traders should watch ETF inflows, futures open interest and the critical $15–$16 resistance zone; reclaiming and holding $16 would improve odds of testing $20, but Glassnode data notes ~53m LINK were acquired near $16, which could create overhead sell pressure. The launch underscores rising institutional demand for altcoin exposure and may support further upside if inflows persist and on‑chain/tokenization use cases continue to gain traction.

The Australian Bitcoin Industry Body (ABIB) has lodged a formal complaint against the Australian Broadcasting Corporation (ABC), alleging a recent column mischaracterised Bitcoin as useful only for illicit activity, contained factual errors, and breached ABC editorial standards. ABIB says the coverage overstated criminal use and volatility while omitting legitimate use cases (for example grid balancing and humanitarian transfers) and rising institutional adoption. The complaint, published on December 3, 2025, requests corrections, a public response within 60 days and consultation with subject-matter experts; ABIB says it may escalate the matter to Australia’s communications regulator if ABC does not satisfy the request. The dispute arrives as Australia advances major crypto legislation — notably the Corporations Amendment (Digital Assets Framework) Bill 2025 — which would formalise rules for entities that hold crypto for clients and strengthen consumer protections. For traders: this is mainly a reputational and regulatory-story development for Bitcoin (BTC). It may influence sentiment locally in Australia and affect media framing ahead of new rules, but it does not directly change fundamentals of BTC network supply or demand. Watch for follow-up coverage, regulator engagement, or legal escalation that could shift local retail sentiment or news-driven volatility.

The UK’s Property (Digital Assets, etc.) Act has come into force, statutorily classifying crypto‑tokens, stablecoins and NFTs as legal property and replacing prior case‑by‑case judicial rulings. The law grants owners enforceable rights — ownership, inheritance, recovery of stolen assets and defined treatment in insolvency — and removes legal uncertainty that stalled institutional product launches and tokenized offerings (an effective ~18‑month freeze for large funds). Policymakers present the move as part of a broader push toward regulated crypto markets and greater institutional participation, aligning with international efforts such as the EU’s MiCA framework. Industry groups welcomed the change as improving custody clarity, reducing legal risk for tokenized products and encouraging market stability and innovation. For traders, the immediate effects are clearer custody and probate processes, lower legal/custodial risk premiums, and a higher likelihood of renewed institutional flows — factors that can support tighter spreads, higher liquidity and more competitive custodial pricing over time. Primary keywords: UK crypto law, digital assets, crypto regulation. Secondary/semantic keywords: property rights, custody, institutional adoption, tokenization, stablecoins, NFTs.

US-listed spot Bitcoin ETFs saw combined trading volume of about $5.6 billion today, driven chiefly by BlackRock’s iShares Bitcoin Trust (IBIT) and materially supported by Fidelity’s Wise Origin Bitcoin Fund (FBTC). IBIT alone recorded more than $1.8 billion within its first two hours of trading, highlighting strong initial demand from institutional and retail investors for regulated, ETF-based Bitcoin exposure. The surge in volume reinforces the role of familiar ETF wrappers in channeling institutional flows into BTC and suggests growing market adoption of spot Bitcoin ETFs amid continued price volatility. For traders, elevated ETF activity can increase liquidity, widen participation from large asset managers, and potentially amplify price moves in BTC in both the short and medium term. Primary keywords: spot Bitcoin ETF, IBIT, FBTC, trading volume, Bitcoin (BTC).

Grayscale has converted its Chainlink Trust into the market’s first Chainlink (LINK) spot ETF, which began trading on NYSE Arca under the ticker GLINK after SEC approval. The move follows Grayscale’s recent rollouts of other converted crypto spot ETFs and comes amid broader industry shifts: Bloomberg reported Vanguard will allow ETFs and mutual funds that primarily hold crypto to be purchased on its platform (moving from sell-only), increasing retail and institutional access. The ETF uses the same cash-creation/redemption model seen in recent Bitcoin and Ethereum spot ETFs; in-kind transactions may be possible pending regulatory allowances. The Bank of New York Mellon is listed as transfer agent/administrator. Separately, Chainlink’s protocol adoption — including real-estate tokenization projects using on-chain title data, automated borrowing and auctions, and LINK-based rewards backed by a strategic reserve — is advancing from pilots to production, potentially strengthening demand for LINK. For traders: GLINK listing and expanded brokerage access raise potential liquidity and institutional flows into LINK, likely increasing trading volume and volatility in the near term; monitor ETF inflows, creation/redemption activity, and on-chain staking or protocol adoption signals for directional cues.

CoinShares has formally withdrawn its U.S. spot ETF registration filings for XRP, Solana (staking) and Litecoin and will pivot away from single‑asset crypto ETFs toward crypto equities, thematic baskets and multi‑asset active strategies. The withdrawals—signed by the firm’s CFO and filed with the SEC—follow successful U.S. launches of XRP and Solana‑related spot ETFs by larger incumbents (Grayscale, Bitwise, Canary Capital, REX‑Osprey) that captured substantial inflows and left the U.S. ETF market highly competitive with thin sustainable margins. CEO Jean‑Marie Mognetti cited intensified competition and the risk of margin‑eroding price wars as reasons to avoid entering crowded single‑asset spots. CoinShares plans to focus on higher‑margin products and bespoke strategies over the next 12–18 months, including thematic crypto baskets, equity‑exposure products and active strategies blending crypto with traditional assets. The firm is also preparing for a planned $1.2 billion Nasdaq listing via a SPAC merger, which likely informed the strategic shift. Market reaction to the news was modest: SOL and LTC saw intraday declines of roughly 2%, while XRP fell under 0.5%; CoinShares still manages about $10 billion AUM and retains a strong European presence with a leading Solana ETP on Frankfurt. For traders: expect reduced direct US ETF competition from CoinShares (which may slightly reduce new selling pressure from an additional entrant), short‑term negative sentiment risk for SOL and LTC, and a longer‑term reallocation of institutional flow toward thematic, equity‑linked and multi‑asset crypto products that could alter demand patterns for specific tokens.

Ethereum developers have scheduled the Fusaka hard fork for mainnet on December 3, 2025 (slot 13,164,544). Fusaka bundles 12 EIPs that coordinate changes across the consensus and execution layers to improve interoperability with Layer‑2 networks, speed cross‑layer transactions, raise Layer‑2 throughput and reduce gas/execution costs. A key feature, PeerDAS, lets validators verify portions of data instead of whole blobs, cutting bandwidth and validation costs and benefiting validators, rollups and users. The upgrade has already deployed successfully on the Hoodi testnet and was confirmed at the All Core Developers Consensus Layer (ACDC) meeting. For traders, Fusaka targets higher Layer‑2 capacity and lower transaction costs for users, which may increase on‑chain activity and demand for ETH for gas over time. Monitor upgrade progress, testnet results and any client updates or replay protection guidance ahead of the December activation.

Ethereum will deploy the Fusaka upgrade to mainnet on Dec. 3, 2025. Fusaka bundles 12 EIPs across consensus and execution layers with the headline feature PeerDAS (EIP-7594), which enables peer data-availability sampling so validators can verify rollup blob data without downloading full blobs. That lowers per-node bandwidth and storage needs and allows higher blob capacity and repeated smaller Blob Parameter Only (BPO) forks (EIP-7892) to increase layer‑2 throughput. Execution-layer changes raise effective block gas targets, cap single-transaction gas (EIP-7825), limit block size to 10 MB (EIP-7934), and adjust heavy precompiles (EIP-7823, EIP-7883) to protect node verifiability. UX and developer additions include deterministic proposer lookahead (EIP-7917), a secp256r1 precompile for passkey support (EIP-7951), a count-leading-zeros opcode (EIP-7939), and extended history expiry (EIP-7642) to speed sync and reduce storage. Analysts estimate Fusaka plus initial BPO changes could cut L2 data fees roughly 40%–60%, benefiting high-throughput use cases such as DeFi, gaming and social rollups. Node operators should see lower download/storage requirements but may face higher upload bandwidth as blob capacity grows, which could favor well‑provisioned validators unless client-level mitigations limit centralization. Institutional observers (e.g., Fidelity Digital Assets) view Fusaka as a strategically coherent step on Ethereum’s roadmap. For traders: Fusaka is a structural, mid‑to‑long‑term scaling milestone likely to increase on‑chain activity on layer‑2s and change fee dynamics, but it is not an immediate price catalyst for ETH. Key keywords: Fusaka, PeerDAS, Ethereum upgrade, layer‑2 throughput, EIP, blob, BPO.

The UK has adopted the OECD-derived Crypto-Asset Reporting Framework (CARF) in the 2025 Budget, forcing crypto platforms serving UK customers to collect user IDs, tax numbers and transaction histories from 1 January 2026. Exchanges must submit detailed annual reports to HMRC starting in 2027. CARF expands reporting to cover cross-border and domestic crypto transactions and is designed to improve enforcement of existing capital gains tax rules; HMRC estimates it will raise about £315 million (~$417 million) by April 2030. Non-compliance risks fines (up to £300 per unreported customer) and penalties for inadequate record-keeping. The framework does not by itself create new taxes on staking or lending, but DeFi taxation remains under consultation, with proposals such as a “no gain, no loss” rule that defers capital gains tax until disposal. Industry feedback is mixed: firms warn of costly data and KYC upgrades, longer audits, and added burdens on stablecoin providers; some welcome DeFi clarity. Traders should verify tax details with exchanges before 2026, expect platforms to upgrade reporting systems and possibly pass compliance costs to users via fees, and prepare for stronger HMRC scrutiny once reporting begins in 2027. Key keywords: UK crypto reporting, CARF, HMRC, crypto tax reporting, DeFi taxation.

Bhutan’s government staked 320 ETH (≈$970,000) through institutional staking provider Figment, confirming increased state-level involvement in Ethereum. The move follows a national digital identity (NDI) migration that began in October, shifting resident credentials from Polygon to Ethereum; the Ethereum Foundation and Bhutanese officials expect full migration for roughly 800,000 residents by early 2026. Separately, Bhutan has accumulated sizeable Bitcoin reserves via hydropower-powered mining since 2019, holding roughly 6,154–6,371 BTC (reports vary). The government is also promoting crypto adoption for payments and tourism, with a Binance-supported merchant program claiming nearly 1,000 onboarded businesses. Key entities: Figment, Ethereum (ETH), Ethereum Foundation, Vitalik Buterin, and Prime Minister Tshering Tobgay. For traders: the on-chain 320 ETH stake signals sovereign participation in ETH staking markets and institutional demand; the NDI migration increases on-chain activity and potential long-term utility demand for Ethereum, while Bhutan’s BTC reserves underscore a diversified national crypto strategy.

Grayscale Investments filed an S-3 registration statement with the U.S. Securities and Exchange Commission to convert its Grayscale Zcash Trust into a spot Zcash (ZEC) exchange-traded fund that would list on NYSE Arca under the ticker ZCSH. If approved, this would likely be the first regulated spot ETF for a privacy-focused cryptocurrency. Grayscale framed the move as meeting growing demand for privacy-preserving assets and noted ZEC’s recent surge in market interest and price (the later report cites a roughly 1,147% rally over three months and year-to-date gains above 1,000%). The trust currently holds substantial assets under management, and Grayscale’s legal team cited Zcash’s privacy technology (shielded transactions and zk-SNARKs) as a key rationale. The filing follows Grayscale’s prior conversions of other crypto trusts into spot ETFs and arrives amid renewed market attention on privacy coins after ZEC’s comeback in 2025. Trading implications for crypto traders: potential new institutional access and inflows to ZEC via an ETF wrapper, higher liquidity and tighter spreads, greater mainstream visibility, and a possible rise in regulatory scrutiny. Primary SEO keywords: Zcash, ZEC, Zcash ETF, Grayscale, spot ETF.

Singapore’s Monetary Authority (MAS) is accelerating institution-led tokenization via coordinated pilots and new rules due in 2026. Building on Project Guardian and recent SGD Testnet trials (including DBS, OCBC, UOB, JPMorgan and Standard Chartered), MAS will run a 2026 CBDC pilot to settle tokenized government bills and has launched Project BLOOM and Project Orchid to test tokenized bank liabilities, regulated stablecoins and wholesale CBDC settlements on permissioned ledgers. MAS prioritizes wholesale CBDC and regulated bank participation over retail speculative platforms, enforcing AML/KYC, full-reserve backing and rapid redemption for stablecoins pegged to SGD, USD or EUR. The forthcoming stablecoin regime will require issuers to hold high-quality liquid assets and clear redemption mechanisms. MAS is also pursuing cross-border interoperability — including MOUs and joint experiments with Deutsche Bundesbank, Bank of England and Bank of Thailand — to standardize international digital settlements and reduce fragmentation. For traders: expect reduced systemic risk from unregulated stablecoins, greater on‑chain settlement efficiency for institutional flows, and tighter regulatory scrutiny that may limit retail trading products but boost trust in regulated tokenized assets.

Monad’s mainnet has launched, triggering a sharp rally in its native token MON and drawing significant market attention. Early price action included an initial dip from the sale price followed by a roughly 40% surge as exchanges listed MON (Coinbase, Kraken, Gemini) and major DeFi projects deployed or announced integrations (Uniswap, Curve, Stargate, Wormhole) and MetaMask support arrived. A high-profile week-long Coinbase sale drew ~86,000 participants and $269m in commitments; an anti-flip rule for early buyers helped temper immediate sell pressure. Traders saw heavy volume, notable volatility and thin order books around the genesis event. Key short-term catalysts are continued exchange listings, token unlocks or vesting schedules, marketing pushes and on-chain activity from ecosystem launches and validator announcements. Analysts warn of typical post-mainnet risks: concentrated liquidity, listing-driven pump-and-dump patterns, rapid profit-taking by early holders and competition with established L1s (notably comparisons to Solana’s throughput and low fees). For traders, the event presents momentum-driven short-term trading opportunities but elevated risk — watch exchange listing timelines, unlock/vesting schedules, large holder addresses, order-book depth and on-chain deployment metrics for signals. Long-term upside depends on sustained developer traction, real-world dApp activity, decentralization of validators and token distribution.

South Korea’s Dunamu, parent of Upbit, and Naver Financial have agreed to merge in a share-swap deal, pending board approvals by November 27. Upbit’s 24-hour trading volume hit $2.1 billion, trailing Bullish’s $2.2 billion, underscoring the exchange’s liquidity ahead of the IPO. The merger paves the way for a Nasdaq IPO, giving U.S. investors direct access to South Korea’s dynamic crypto market. Regulators must clear the deal to address monopoly concerns over combining a payments provider and an exchange. Post-merger, Naver Financial plans to launch a won-backed stablecoin under new domestic crypto regulations. This Nasdaq IPO follows several crypto firms such as Bullish and Gemini going public in the U.S., and could attract institutional capital while integrating South Korean crypto assets into global markets.

Japan’s Financial Services Agency will require all licensed crypto exchanges to maintain dedicated crypto liability reserves starting in 2026. These reserves must cover losses from hacks, fraud or unauthorized withdrawals and will be calculated based on trading volume and past security breaches. Approved insurance policies may offset reserve requirements, easing the cash burden. The amendment to the Payment Services Act adds to existing cold-storage rules, with detailed formulas and enforcement to be set by a Financial System Council working group. The FSA will also mandate segregation of customer assets and a framework for asset return during bankruptcies. Simultaneously, cryptocurrencies will be reclassified as financial instruments under the Financial Instruments and Exchange Act to align regulation with securities firms. While smaller exchanges may face higher costs and tighter liquidity, major operators that already hold reserves or policies stand to gain from increased market confidence and stability.

Franklin Templeton launched its SEC-approved XRP ETF (XRPZ) on NYSE Arca on November 24, offering regulated exposure to XRP. The XRP ETF holds physical XRP tokens in a grantor trust, with daily NAV based on the CME CF reference rate. On debut, strong demand drove 768,000 shares in trading volume, as XRP jumped 8.25%. Initial inflows of $62.6 million boosted total XRP ETF assets to $628.6 million, reflecting growing institutional flows. Partners include Coinbase as custodian and BNY Mellon as administrator. Traders should monitor ETF inflows and regulatory developments in the digital asset market for insights into market liquidity and XRP adoption trends.

21Shares has expanded its suite of crypto ETPs on Nasdaq Stockholm by launching six new products. The initial wave included ETPs for Aave, Cardano, Chainlink and Polkadot, plus two index-based baskets, following a Solana (SOL) ETF debut. A subsequent launch introduced single-asset ETPs tracking Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Polkadot (DOT), Avalanche (AVAX) and Cardano (ADA). These additions raise 21Shares’ total crypto ETP offerings on the Swedish exchange to 16, complementing listings on SIX Swiss Exchange, Xetra and Amsterdam Euronext. The move meets rising demand from Nordic institutions for regulated, exchange-listed digital assets. With about half of its $8 billion AUM held in US ETFs co-issued with Ark Invest, 21Shares aims to boost liquidity, trading volumes and market access. The launch highlights growing institutional flows and aligns with broader European adoption amid new spot XRP ETFs in the US.

On November 21, a malformed delegation transaction exploited a long-standing bug in Cardano’s protocol, triggering an unexpected Cardano chain split and creating two incompatible ledgers. Staking pool operators were urged by IOHK and the Intersect group to update their core nodes to the latest version, which restored consensus without any double-spend losses. The pseudonymous developer “Homer J” admitted using AI-generated code and bypassing the testnet, prompting founder Charles Hoskinson to refer the incident to the FBI as a potential criminal act. ADA prices tumbled by 16% before recovering, underlining how a Cardano chain split can impact market stability and trader strategies. The incident also led to the resignation of an Input Output Global employee over legal concerns about routine pen testing, raising questions about governance and network resilience in blockchain ecosystems.

Animoca Brands fund management approval has been granted in-principle by the Abu Dhabi Financial Services Regulatory Authority (FSRA). This follows the October in-principle crypto brokerage licence from Dubai’s Virtual Assets Regulatory Authority (VARA). Under the new framework, the Hong Kong-based firm can manage collective investment funds for institutional clients and centralise its portfolio of over 600 web3 gaming, digital rights and infrastructure investments. The dual approvals reflect the UAE’s push to grow as a regulated digital assets hub. Animoca Brands is also advancing tokenisation, including a limited partnership fund on the XRP Ledger. Chairman Yat Siu will speak at the 2025 Global Blockchain Show in Abu Dhabi. This Animoca Brands fund management approval provides institutional crypto investors with a clear regulatory pathway in the Middle East.

Bitkub, Thailand’s largest crypto exchange, plans a Hong Kong IPO by 2026 to raise about $200 million. The move follows a paused SET listing and a 2025 Thai market slump, with new IPOs down over 12% and the main index off by 10%. Bitkub dominates over 80% of local trading volume, hitting $60.75 million in 24-hour volume. Hong Kong’s clear crypto regulation from the SFC and HKMA, stablecoin legislation, and unified global order books make the Hong Kong IPO appealing. Traders expect the Bitkub IPO to enhance exchange liquidity and market access. Raised capital will fund regional expansion and product development.

Grayscale has secured NYSE Arca approval to convert its Dogecoin (DOGE) and XRP trusts into spot ETFs, set to begin trading Monday under tickers GDOG and GXRP. Under the Securities Exchange Act of 1934 and recent SEC guidance, issuers can list once they meet listing standards without additional sign-off. These new spot ETFs join Grayscale’s Bitcoin, Ethereum and Solana offerings, offering institutional and retail investors lower investment thresholds, enhanced liquidity and regulated DOGE ETF and XRP ETF exposure. Bloomberg analyst Eric Balchunas confirmed the approvals and noted a Chainlink (LINK) spot ETF may follow soon, marking ongoing expansion of U.S. crypto spot ETFs.

Tenaga Nasional Bhd (TNB) has lost over RM4.6 billion ($1.1 B) since 2020 to electricity theft by illegal crypto mining. A parliamentary filing shows nearly 14,000 sites bypassed or tampered with meters to power Bitcoin rigs undetected. Joint raids by TNB, police, regulators, and the MACC hit over 13,800 premises, seizing thousands of machines, including 120 rigs in Sarawak. TNB has logged 1,699 complaints, installed smart meters at substations, and plans AI analytics for real-time monitoring. Offenders face fines up to RM100,000 and five years in jail. Electricity theft now equals about 3% of TNB’s revenue, threatening Malaysia’s power grid stability. Industry groups call for mining-specific tariffs, licensing, and renewable energy models, forecasting RM700 million in investment, 4,000 jobs, and RM150 million in annual taxes from legalised crypto mining.

Ethereum fell below $2,800 on OKX on November 21, sliding 5.30% intraday to $2,799.01. On November 24, ETH again dipped under $2,800, trading at $2,799.95 after a 1.29% intraday decline. These pullbacks underscore renewed bearish pressure and ongoing market volatility. Traders should watch key support at $2,700 and monitor liquidity and on-chain metrics for recovery signals or further downside.

Trading odds for a Fed rate cut in December have jumped to around 67–69%, according to Polymarket and CME FedWatch. Traders now assign roughly a 67% chance of a 25-basis-point cut at the December 9–10 FOMC meeting. The probability of holding rates steady has fallen to about 30%, while odds of a 50-basis-point cut are minimal at 2% and near-zero for a rate hike. This shift in Fed rate cut expectations reflects market reactions to moderating inflation data and recent Fed comments. Boston Fed President Susan Collins urged caution, noting that policy is “in the right place” and calling for more data before easing. She may dissent if the FOMC moves too quickly. Crypto traders should watch upcoming CPI and employment figures. These key economic releases will drive Fed rate cut odds and could increase market volatility. Lower interest rates may boost liquidity and support risk assets, including cryptocurrencies.