Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.

Grab a coffee because today’s Morning Briefing isn’t just about interest rates. It’s about leverage, funding, and which side of the Pacific really sets the rhythm for risk assets when the policy paths split. As one central bank eases (the US), the other tightens (Japan). The tension between the two is beginning to reshape global liquidity in ways that don’t show up in a single chart or price candle.

Crypto News of the Day: Japan Raises Interest Rates, But the Fed Cuts, Which Side Has A Stronger Impact?

Global markets are at an impasse, amid a rare and consequential policy divergence. On the one hand, the US Federal Reserve has begun cutting interest rates to support slowing growth. In contrast, the Bank of Japan (BOJ) is moving in the opposite direction, raising rates to levels not seen in three decades.

The question facing investors is no longer whether these moves matter, but which one ultimately carries more weight for global liquidity, currencies, and crypto markets.

On December 19, the BOJ raised its policy rate by 25 basis points to 0.75%, the highest level since 1995. This marks another step away from decades of ultra-loose monetary policy. Macro analysts see the move as more than a routine adjustment.

🚨 BREAKING: 🇯🇵 BOJ DELIVERS THE HIKE

Rates raised 25 bps to 0.75%, marking a 30-year high.

Japan’s era of ultra-easy money keeps fading.

This is a major global LIQUIDITY shift… watch yen and risk assets closely. 👀 pic.twitter.com/vfciRH84WJ

— Wise Advice (@wiseadvicesumit) December 19, 2025

Unlike the Federal Reserve’s rate cuts, which are cyclical and designed to smooth economic slowdowns, Japan’s tightening is structural. For nearly 30 years, near-zero Japanese rates anchored one of the world’s most important sources of cheap leverage.

Even modest increases now carry outsized consequences because they disrupt funding strategies deeply embedded across global markets.

The immediate impact was most visible in currency markets. Despite the historic hike, the yen initially weakened as Governor Kazuo Ueda offered limited clarity on the pace of future tightening.

Reuters noted that the currency slipped as the BOJ “stays vague on tightening path.” This highlights how forward guidance, not just the hike itself, remains critical.

Still, analysts argue the real transmission channel lies elsewhere: the yen carry trade, as reported in a recent US Crypto News publication.

As Japanese yields rise and the US–Japan rate gap narrows, borrowing yen to fund higher-yielding positions becomes increasingly expensive.

Fed cut rates, but the message mattered more than the cut. Their dot plot now shows fewer cuts ahead. That flipped expectations from “easy money coming” to “higher for longer.” At the same time, BOJ hike expectations strengthened the yen → yen carry trades started unwinding →… pic.twitter.com/eSaJLWQajg

— Dmytro V7 🇺🇦 (@V7Dmytro) December 16, 2025

This is where the divergence between Tokyo and Washington becomes critical:

• Fed cuts tend to support markets gradually by easing credit conditions.
• BOJ tightening, by contrast, forces immediate repositioning as leverage costs rise.

Crypto markets have historically experienced this impact more quickly than traditional assets. Previous BOJ tightening cycles coincided with sharp Bitcoin drawdowns of 20–30% as liquidity tightened and carry trades unwound.

THE BANK OF JAPAN MIGHT BE BITCOIN’S BIGGEST ENEMY

Japan holds the most US debt.
Every time they hike, Bitcoin bleeds:

March 2024: -23%
July 2024: -30%
Jan 2025: -31%

Next hike: Dec 19
Next move: loading…

If the pattern repeats, $70K is in play. pic.twitter.com/R5916R702I

— Merlijn The Trader (@MerlijnTrader) December 14, 2025

That pattern has made Bitcoin’s recent stability stand out. As of this writing, BTC was trading for $88,035, up by almost 1% in the last 24 hours.

“History shows every prior tightening triggered 20–30% Bitcoin drops as yen carry trades unwound and liquidity tightened. Yet with the hike fully priced in and BTC holding around $85k–$87k, this could be the dip buyers have been waiting for,” wrote analyst Blueblock.

However, resilience at the top of the crypto market does not eliminate risk elsewhere. Altcoins, which are far more sensitive to liquidity conditions, remain exposed if Japanese tightening continues.

Indeed, BOJ officials have openly signaled willingness to keep tightening if wage growth and inflation remain durable. Analysts at ING and Bloomberg have warned that while further hikes may not be imminent, the direction of travel is clear.

The implication for global markets is stark. Fed cuts may provide broad support over time, but Japan’s retreat from ultra-easy policy strikes directly at the foundation of global leverage.If the BOJ continues down this path, its influence on liquidity, currencies, and crypto could outweigh US easing, at least in the near term.

Chart of the Day

Byte-Sized Alpha

Here’s a summary of more US crypto news to follow today:

• What does a 100% accurate historical indicator signal for Bitcoin in December?
• ADA is down 70% in 2025 —But two new sources of demand are emerging for Cardano.
• Is Toncoin undervalued? December data signals potential rebound.
• XRP selling pressure collapses 39%, but this price level still controls the outcome.
• Bitcoin whales moved — But not in the way markets assumed.

Crypto Equities Pre-Market Overview

Company	At the Close of December 18	Pre-Market Overview
Strategy (MSTR)	$158.24	$163.97 (+3.62%)
Coinbase (COIN)	$239.20	$246.00 (+2.84%)
Galaxy Digital Holdings (GLXY)	$22.51	$22.95 (+1.95%)
MARA Holdings (MARA)	$9.69	$9.87 (+1.86%)
Riot Platforms (RIOT)	$13.38	$13.73 (+2.62%)
Core Scientific (CORZ)	$14.56	$15.04 (+3.30%)

The post Japan Tightens, America Eases: Which Central Bank Really Moves Markets Now? | US Crypto News appeared first on BeInCrypto.

The administrator overseeing the wind-down of Terraform Labs has filed a $4 billion lawsuit against high-frequency trading firm Jump Trading. They accuse the market maker of secretly manipulating prices and contributing to the collapse of Do Kwon’s once-dominant crypto ecosystem.

It comes barely a week after the judge issued Do Kwon his sentence, a 15-year term in federal prison for orchestrating a $40 billion crypto fraud.

Terraform Labs Estate Seeks $4 Billion From Jump Trading

The complaint names Jump Trading, co-founder William DiSomma, and former head of its crypto division, Kanav Kariya. It alleges unlawful profiteering tied to the failure of TerraUSD (UST).

Citing court filings, The Wall Street Journal reports that the Terraform Labs estate claims Jump conducted undisclosed, large-scale trading interventions to prop up UST during multiple de-pegging episodes in 2021 and 2022.

Rather than stabilizing the system, the administrator argues these actions created a false sense of market confidence. In turn, this masked structural weaknesses that ultimately made Terra’s collapse more severe.

At the center of the lawsuit is the claim that Jump aggressively purchased UST whenever the algorithmic stablecoin fell below its $1 peg. These purchases allegedly inflated demand artificially, misleading market participants into believing the peg mechanism was functioning as designed.

The estate argues that Jump was not acting as a neutral liquidity provider. Instead, it exploited its market position and inside knowledge to extract profits from the volatility it helped manage.

The filing alleges that Jump earned roughly $1 billion through these strategies, benefiting from preferential token arrangements and trading advantages. Meanwhile, retail investors remained unaware of the behind-the-scenes support.

When Terra ultimately unraveled in May 2022, triggering an estimated $40 billion wipeout across UST and LUNA, the lawsuit claims the earlier illusion of stability magnified the damage.

It is worth mentioning that this is not the first time Jump Trading is linked to manipulation allegations. In October 2024, game developer FractureLabs filed a lawsuit against Jump Trading over crypto manipulation claims

“Jump then systematically liquidated its DIO holdings, generating millions of dollars in revenue for itself,” Bloomberg reported, citing an excerpt in the lawsuit.

Do Kwon’s Sentencing Puts Fresh Spotlight on Jump Trading’s Market Power

The legal action arrives amid renewed headlines of Terra’s collapse. It follows Do Kwon’s recent sentencing to 15 years in prison over fraud charges related to the project.

In the days following that ruling, some market observers publicly speculated that additional institutional players could face legal exposure, with Whale Calls citing Jump Trading.

When jump trading ? https://t.co/yowAZA1DAw

— WhaleCalls (@whalecalls) December 11, 2025

Beyond the immediate allegations, the case highlights Jump Trading’s formidable technological capabilities.

Jump Trading’s Technological Edge and Its Role in the Lawsuit

Jump is widely regarded as one of the most sophisticated high-frequency trading firms globally. Industry reporting has highlighted its willingness to spend vast sums to gain marginal speed advantages, including the acquisition of a microwave tower previously used by NATO to shave milliseconds off transatlantic trade transmission times.

In 2018, Jump also partnered with firms such as Citadel to build the “Go West” undersea fiber-optic cable, connecting Chicago and Tokyo and enabling faster access to global futures markets.

According to commentary from Colin Wu, Jump’s quote data processing capabilities are considered to be on a vastly different scale from those of many competitors. This reflects the asymmetric power that large trading firms can wield in both traditional and crypto markets.

That technological edge now forms part of the broader context of the lawsuit. While the complaint does not allege the use of illegal infrastructure, it argues that Jump’s scale and sophistication amplified the market impact of its UST trades. This raises questions about fairness, disclosure, and market integrity.

If successful, the case could have far-reaching implications. A ruling in favor of the Terraform Labs estate may establish a clearer legal boundary between legitimate market making and manipulation in crypto markets, potentially reshaping how large trading firms operate.

It could also lead to substantial financial penalties, with any recovered funds likely directed toward compensating creditors and victims of the Terra collapse.

Jump Trading has not publicly commented on the lawsuit as of the time of publication, but is expected to mount a vigorous defense.

As discovery continues, the case may offer rare insight into the opaque mechanics of crypto market making. Beyond that, it could mark a watershed moment in the industry’s ongoing reckoning with accountability.

The post $4 Billion Lawsuit Claims Jump Trading Helped Engineer Terraform’s Collapse appeared first on BeInCrypto.

The Bank of Japan (BOJ) raised its policy interest rate by 25 basis points to 0.75% on December 19. It marks its highest level in nearly 30 years, reinforcing the country’s gradual exit from ultra-easy monetary policy.

Yet despite the historic shift and warnings of a global liquidity squeeze, Bitcoin showed little reaction, rising just under 1% and holding in the $87,000 range.

BOJ Just Raised Interest Rates Another 25 Basis Points – Why Did Bitcoin Hold Steady?

The muted response stands in contrast to history. Previous BOJ tightening cycles have often coincided with sharp sell-offs in crypto markets, particularly as yen carry trades unwind and global liquidity tightens.

THE BANK OF JAPAN MIGHT BE BITCOIN’S BIGGEST ENEMY

Japan holds the most US debt.
Every time they hike, Bitcoin bleeds:

March 2024: -23%
July 2024: -30%
Jan 2025: -31%

Next hike: Dec 19
Next move: loading…

If the pattern repeats, $70K is in play. pic.twitter.com/R5916R702I

— Merlijn The Trader (@MerlijnTrader) December 14, 2025

This time, however, traders appeared unfazed, suggesting the move had been fully priced in well ahead of the announcement. Market participants had largely anticipated the decision.

Japan’s rate increase represents a symbolic break from decades of near-zero interest rates that made the yen a cornerstone of global funding markets. Cheap yen borrowing fueled leverage across equities, bonds, and cryptocurrencies.

As Japanese yieds rise and narrow the gap with global rates, those trades become less attractive, potentially forcing investors to unwind risk positions. Still, Bitcoin’s calm reaction suggests markets were prepared.

According to analysts, however, the focus was never the hike itself, but what comes next.

“Markets are pricing in a near-certain 25 basis point hike, marking the highest Japanese policy rate in about 30 years. While the hike itself is largely anticipated, the real focus is on Governor Ueda’s forward guidance during the press conference—signals of future hikes could amplify effects,” wrote analyst Marty Party.

That forward guidance may prove crucial. The BOJ has signaled it remains prepared to raise rates further, potentially to 1% or higher by late 2026, depending on wage growth and sustained inflation.

That outlook keeps pressure on risk assets, even if the initial move failed to trigger volatility.

Bitcoin Holds Firm as Altcoins Face a Prolonged Liquidity Squeeze

Analysts argue that Bitcoin’s resilience could be a bullish sign. Blueblock pointed to historical patterns, noting the divergence from past reactions.

“The BOJ just hiked rates to 0.75%, ending decades of ultra-loose policy and narrowing the gap with global yields. History shows that every prior tightening has triggered 20–30% Bitcoin drops as yen carry trades unwind and liquidity tightens. Yet with the hike fully priced in and BTC holding around $85k–$87k, this could be the dip buyers have been waiting for,” the analyst wrote.

However, not all corners of the crypto market are expected to fare as well. Altcoins, which are typically more sensitive to shifts in liquidity, remain vulnerable if Japanese tightening accelerates.

The prospect of higher rates through 2026 suggests a prolonged headwind rather than a one-off shock.

“BOJ signals it is ready to hike further, potentially 1% or higher by late 2026, depending on wage growth and sustained inflation. NO MERCY FOR ALTCOINS,” commented Money Ape.

Bitcoin’s stability reflects a market that had ample time to prepare for the BOJ’s decision. Whether that resilience holds will depend less on the December hike itself and more on how aggressively Japan continues its path of tightening. It will also hinge on how global liquidity adapts to the end of one of its longest-running monetary backstops.

The post BOJ Raises Interest Rates to 0.75%, But Bitcoin Stands Unshaken—Is the Crypto Calm a Warning or Opportunity? appeared first on BeInCrypto.

Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.

Grab a coffee as BitMine’s bold Ethereum strategy is back in focus with market pressure building and investor nerves fraying. Losses are mounting, the stock is sliding, and yet influential buyers are quietly stepping in, setting up a familiar crypto standoff between conviction and caution.

Crypto News of the Day: Losses Mount at BitMine, Yet Tom Lee and Ark Double Down on Ethereum

BitMine’s aggressive Ethereum treasury strategy is coming under renewed scrutiny as prolonged unrealized losses weigh on investor sentiment and its stock continues to slide.

Shares of BitMine (BMNR), widely described as the world’s largest Ethereum treasury company, have fallen sharply in recent sessions. The stock closed Wednesday at $29.32, down 6.59% on the day and roughly 24% over the past five days,

The reflects market unease around both broader market weakness and BitMine’s mounting unrealized losses on ETH holdings.

Yet even as concerns grow around downside exposure, some of crypto’s most influential bulls are doubling down. This highlights a widening divide over Ethereum’s role in institutional treasury strategies.

Despite the drawdown, BitMine Chairman Tom Lee appears unfazed. On-chain data flagged by Arkham Intelligence indicates that Lee has continued to accumulate Ethereum at scale.

“Tom Lee just bought another $140 million ETH. Two fresh wallets just received $140.58 million ETH from FalconX. Their acquisition behavior matches BitMine’s prior purchase patterns. Tom Lee continues to buy the dip,” wrote Arkham.

The activity reinforces BitMine’s long-standing thesis that Ethereum remains structurally undervalued and is positioned to benefit from regulatory clarity, institutional adoption, and the expansion of on-chain use cases. This holds despite near-term price action telling a different story.

Cathie Wood’s Ark Invest is also signaling conviction. According to trade filings, Ark purchased $10.56 million worth of BitMine shares on Wednesday across three of its exchange-traded funds.

🚨ARK BUYS MORE CRYPTO STOCKS!

Ark Invest bought $10.56M of BitMine, $5.9M of Coinbase, and $8.85M of Bullish on Wednesday.

Cathie Wood says a “real break” in inflation is coming in 2026. pic.twitter.com/lW8AWfuISC

— Coin Bureau (@coinbureau) December 18, 2025

The buy followed an additional $17 million purchase earlier in the week, bringing Ark’s recent accumulation to nearly $28 million.

Ark Expands Crypto Equity Exposure as Treasury Strategies Split

Ark’s buying spree extended beyond BitMine. The firm also added $5.9 million in Coinbase shares and $8.85 million worth of Bullish, leaning into crypto equities that have broadly been trending lower. Coinbase fell 3.33% on Wednesday to $244.19, while Bullish slipped 1.89% to $42.15.

The moves reflect Wood’s broader macro-outlook. The Ark Invest CEO, Cathie Wood, has repeatedly argued that easing inflation and improving liquidity conditions could set the stage for a renewed crypto rally.

BitMine’s leadership mirrors that optimism. The company has continued purchasing ether weekly during the downturn, with Lee previously stating that regulatory and legislative shifts in Washington, combined with rising institutional engagement, mean “the best days for crypto” are still ahead.

Nonetheless, not everyone shares that view. Analyst Samson Mow has taken the opposite approach, opting for a clean break from Ethereum exposure.

“I’ve decided to liquidate all BitMine Ethereum holdings and pivot to a Bitcoin-only treasury strategy,” wrote Mow.

Mow’s decision highlights a growing philosophical split within crypto treasuries: whether diversification into Ethereum represents strategic foresight or unnecessary risk.

For BitMine, that debate is no longer theoretical, and as unrealized losses persist, Lee and Ark’s conviction may not be rewarded soon, unless tides turn. In the same way, Ethereum’s volatility continues to test the limits of institutional patience.

Chart of the Day

Byte-Sized Alpha

Here’s a summary of more US crypto news to follow today:

• Bitfinex Bitcoin whale long positions surge 36%: What does it mean?
• Bitcoin’s 5% whiplash was no accident — Charts reveal the full story.
• Peter Brandt turns bearish on XRP price despite Ripple’s push for multichain expansion.
• The 11th crypto prediction from Bitwise may not survive—James Seyffart warns.  
• Japan’s Bond yields hit 1.98%: BOJ rate shift impacts gold, silver, and Bitcoin.

Crypto Equities Pre-Market Overview

Company	At the Close of December 17	Pre-Market Overview
Strategy (MSTR)	$160.38	$162.80 (+1.51%)
Coinbase (COIN)	$244.19	$250.37 (+2.53%)
Galaxy Digital Holdings (GLXY)	$22.81	$23.11 (+1.31%)
MARA Holdings (MARA)	$9.93	$10.03 (+1.01%)
Riot Platforms (RIOT)	$12.96	$13.07 (+0.85%)
Core Scientific (CORZ)	$13.57	$14.00 (+3.17%)

The post Ethereum Dip Pressures BitMine, but Tom Lee and Ark Keep Buying | US Crypto News appeared first on BeInCrypto.

Large Bitcoin investors on Bitfinex are once again commanding market attention. Analysts tracking leveraged positioning data show that margined Bitcoin long positions held by “whales” have surged sharply, approaching levels last seen in March 2024.

The renewed build-up is occurring even as broader market participation cools, raising questions about what these well-capitalized traders are signaling.

What Does the Record High in Whale Long Positions on Bitfinex Signify?

According to on-chain analyst James Van Straten, Bitfinex whales have continued to add aggressively to their positions.

“Bitfinex whale continues to add to its margin long bitcoin position, approaching March 2024 highs. 36% higher in the past 3 months,” he wrote on X (Twitter).

The data highlights a steady accumulation trend since September, with long exposure expanding during periods of price weakness rather than rallies.

Bitfinex itself appeared to acknowledge the activity, highlighting that large, experienced traders may be positioning with conviction, while smaller participants are reducing risk.

Whale moves 🐳https://t.co/1Zgcof54xV

— Bitfinex (@bitfinex) December 8, 2025

This divergence in behavior is notable. While Bitcoin’s price action has remained choppy in recent weeks, whale accumulation has intensified.

Historically, these Bitfinex long positions have been associated with traders who use leverage tactically. They often scale into positions during drawdowns rather than chasing upside momentum.

According to crypto executive Samson Mow, the current dynamic is a transfer of coins from impatient sellers to long-term holders.

“Bitfinex whales out in force buying from paper hands,” he said, pointing to the contrast between selling pressure from weaker hands and sustained buying by large accounts.

A Contrarian Signal, But Not a Timing Tool

The Bitfinex whale long metric has long been watched as a potential leading indicator in technical analysis. However, its interpretation requires nuance.

These traders have a documented pattern of increasing long exposure during declines and trimming positions into strength. As a result, elevated long positions are often followed, not preceded, by price rallies.

Van Straten cautioned that the signal’s real value lies in watching for reversals rather than absolute levels.

“Short term, once the trend reverses,” he noted, implying that the eventual reduction of these longs may be more informative than their current size.

Not everyone agrees on the reliability of the indicator. Analyst Parabear Nick challenges overly confident interpretations of whale data, dismissing some bullish narratives entirely, amid claims that whale accumulation alone guarantees higher prices.

Indeed, historical data support a more balanced view. Whale long positions have reached extremes at different points in past cycles, sometimes remaining elevated for months before any decisive move in price.

This suggests that while the metric can provide insight into positioning and sentiment, it should be evaluated in conjunction with other indicators, such as open interest, funding rates, and macro liquidity conditions.

The current accumulation comes as open interest across derivatives markets trends lower, signaling reduced participation from retail and short-term traders.

In that context, the concentration of leverage among whales becomes more significant. With fewer speculative participants, large players exert greater influence over marginal price movements.

What remains unclear is timing. Elevated whale longs suggest expectations of higher prices, but not necessarily an imminent breakout.

The key inflection point will come if and when these positions begin to unwind. Historically, such shifts have preceded changes in market regimes.

The post Bitfinex Bitcoin Whale Long Positions Surge 36%: What Does it Mean? appeared first on BeInCrypto.

Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.

Grab a coffee as USDT stablecoin issuer, Tether, pushes to change the way we protect our digital lives. A new approach promises to put control back in your hands, bypassing the cloud and leaving traditional password methods looking increasingly outdated.

Crypto News of the Day: Tether Just Unleashed A Secret Weapon Against Cloud Breaches

Tether has taken a bold step into cybersecurity with the launch of PearPass, a first-of-its-kind peer-to-peer password manager designed to eliminate reliance on cloud storage. The app:

• Keeps all credentials on users’ devices
• Removes centralized servers and intermediaries from the equation
• Gives users full control over their digital security.

The launch comes at a time when billions of login credentials have been leaked in high-profile breaches, exposing users to identity theft, financial loss, and other cyber risks.

Traditional cloud-based password managers, while convenient, have become attractive targets for hackers due to their centralized storage models.

PearPass addresses these vulnerabilities by storing all data locally on users’ devices and enabling encrypted, peer-to-peer synchronization across devices chosen by the user.

“Every major breach proves the same point: if your secrets live in the cloud, they’re not really yours…PearPass removes the single point of failure. No servers, no intermediaries, no back doors. Recovery and synchronization across devices happen peer-to-peer, under your control. This is security that can’t be switched off, seized, or compromised, because it was never in someone else’s hands to begin with,” read an excerpt in Tether’s announcement, citing CEO Paolo Ardoino.

PearPass combines ease of use with advanced security features. It includes a built-in password generator, end-to-end encryption powered by open-source cryptography, and a peer-to-peer architecture that ensures credentials are never exposed to third parties.

Recovery is entirely user-controlled through private keys, eliminating dependency on external systems.

PearPass Sets a New Standard for Decentralized, Open-Source Security

Additionally, PearPass is fully open-source and community-audited, enabling security experts and users to inspect, verify, and contribute to the software.

The platform has also reportedly undergone an independent security audit by Secfault Security, a firm specializing in offensive security and cryptographic analysis. This reinforces its resilience against real-world cyber threats.

Introducing🍐🔒 PearPass — the password manager that keeps your data on your devices.

No servers to hack. No cloud to leak.

Just pure local security.

Follow @Pears_p2p & Download the App https://t.co/gP9FIPn2dW pic.twitter.com/ObIuyfToMo

— Tether (@Tether_to) December 17, 2025

This release reflects Tether’s broader strategy to develop technologies resilient against the pressures of centralization. As governments, corporations, and intermediaries increasingly seek access to private data, PearPass offers a model for systems that remain private, independent, and functional, even under high-threat scenarios.

However, while peer-to-peer avoids cloud risks:

• It can be less convenient for users who frequently switch devices.

Recovery relies entirely on users managing their own keys, which could be risky for non-technical users.

• Experts may question whether the average consumer will adopt a decentralized password manager.

This is at a time when mainstream cloud-based options are more user-friendly and integrated into browsers and mobile platforms.

• Users still need strong device-level security.

While PearPass helps prevent cloud breaches, it cannot protect against local device hacking, malware, or physical theft.

Encrypted peer-to-peer synchronization is promising, but peer networks can introduce latency, synchronization errors, or potential attack vectors if not properly secured.

In as much as PearPass relies on open-source audits and Secfault Security, no system is entirely risk-free. Skeptics may point out that first-of-its-kind peer-to-peer solutions carry unknown risks until widely tested in real-world environments.

Byte-Sized Alpha

Here’s a summary of more US crypto news to follow today:

• Bitcoin trades at the ‘price of belief’: Why $81,500 matters now.
• Solana begins quantum-resistant upgrade as blockchain industry accelerates safety measures.
• Cantor Fitzgerald’s $200 billion Hyperliquid call just reframed the HYPE trade.
• Six weeks of spot ETF inflows couldn’t lift XRP price — On-chain data explains.
• Top 3 price prediction Bitcoin, gold, silver: Could the metals rally signal stress? 
• Binance puts $5 million bounty on fake listing agents as scrutiny intensifies.
• How the UK could make stablecoins a core part of payments in 2026.
• Ethereum price drops below $3,000 amid declining holder conviction.  

Crypto Equities Pre-Market Overview

Company	At the Close of December 16	Pre-Market Overview
Strategy (MSTR)	$167.50	$167.40 (-0.060%)
Coinbase (COIN)	$252.61	$254.00 (+0.51%)
Galaxy Digital Holdings (GLXY)	$24.31	$24.51 (+0.82%)
MARA Holdings (MARA)	$10.69	$10.75 (+0.56%)
Riot Platforms (RIOT)	$13.47	$13.65 (+1.34%)
Core Scientific (CORZ)	$14.73	$15.11 (+2.58%)

The post Tether’s New Move Could Make Cloud Passwords Obsolete | US Crypto News appeared first on BeInCrypto.

Binance has launched a whistleblower reward of up to $5 million as part of a sweeping crackdown on fraudulent third-party “listing agents.”

The exchange warns crypto projects that any individual claiming to influence listings on the exchange is operating illegally.

Binance Offers $5 Million Whistleblower Reward as It Cracks Down on Fake Listing Agents

The announcement, published Wednesday in a transparency update, comes at a sensitive moment for the world’s largest cryptocurrency exchange.

Binance faces heightened scrutiny over its listing practices following alleged insider trading incidents linked to leaked token information.

$year of yellow fruit
0x2fe3731d8b61515aad65757c7cab8042c43a4444
Trades and Price Chart:https://t.co/MOHKDeoL43
"year of yellow fruit" comes from a Binance Futures tweet:
“The year of the yellow fruit and harvest! Plant wisely. Harvest abundantly.”Before this tweet was posted,… pic.twitter.com/1aHMu7TWkw

— Nineteen (@nineteenthvibe) December 7, 2025

In its notice, Binance reiterated that all token listing applications must be submitted exclusively through its official channels, covering Binance Alpha, Futures, and Spot markets.

The exchange stressed that it does not authorize external brokers, consultants, or intermediaries to negotiate, facilitate, or guarantee listings.

“Any party claiming to represent Binance or offering listing-related services in exchange for payment is engaging in fraudulent behavior,” the company said.

Blacklist and Internal Audit Findings

The exchange revealed that an internal audit uncovered repeated cases of individuals and firms misrepresenting themselves as Binance-connected facilitators while soliciting fees from project founders.

As a result, the exchange has blacklisted seven entities and individuals, including:

• BitABC
• Central Research
• May/Dannie
• Andrew Lee
• Suki Yang
• Fiona Lee, and
• Kenny Z

According to Binance, these parties were identified for falsely implying relationships with the exchange or offering paid listing services. The company said legal action would be pursued “where appropriate.”

Blockchain data provider RootData shows that one of the blacklisted groups, Central Research, has previously backed several crypto projects, including Fireverse, Nebula Revelation, AKI Network, Fusionist, and Artyfact.

Of those, only Fusionist (ACE) currently trades on Binance. The exchange did not draw any connection between the blacklist findings and prior listing decisions.

To encourage reporting, Binance said whistleblowers who provide verifiable evidence of fraudulent activity could receive rewards of up to $5 million, depending on the quality and impact of the information submitted.

Binance Tightens Listing Rules Amid Insider Trading Fallout

As part of the update, Binance published a detailed breakdown of how projects progress through its listing ecosystem, from early-stage exposure on Binance Alpha to Futures and eventual Spot listings.

The exchange emphasized that it does not charge fees for listing applications and that all communications must come directly from a project’s core team.

Projects found to have used intermediaries or middlemen will be immediately disqualified from current and future listing reviews, Binance warned. However, teams that proactively report fraudulent agents may receive priority consideration.

The announcement follows Binance’s confirmation earlier this month that an employee leaked confidential listing information related to the “year of the yellow fruit” meme coin. The exchange’s co-CEO, Yi He, had addressed the incident.  

“Currently, the community is engaging in community behavior unrelated to Binance by issuing coins based on Binance’s official Twitter, my statements, or words excerpted from posts. But we cannot stop posting just because someone might come looking for angles,” she said.

Binance also disclosed that it distributed $100,000 in rewards to five whistleblowers who helped expose the misconduct.

Taken together, the blacklist, bounty program, and stricter enforcement signal a broader effort by Binance to rebuild trust around its listing process.

This is at a time when exchanges face increasing pressure to demonstrate transparency, internal controls, and fair market practices.

The post Binance Puts $5 Million Bounty on Fake Listing Agents as Scrutiny Intensifies appeared first on BeInCrypto.

Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.

Grab a coffee as the latest US labor data delivers mixed signals on jobs, wages, and unemployment. Traders are weighing what it all means for risk assets, from equities to Bitcoin, as volatility sets the tone.

Crypto News of the Day: October Jobs Collapse and November Modest Gain Signal Uneven Market

The US Nonfarm Payrolls (NFP) report for October and November 2025 delivered a shock to markets, as it is one of the crucial economic data points this week. It revealed a cooling labor market that could reverberate through both equities and crypto.

According to the US Bureau of Labor Statistics (BLS),October saw a sharp decline of 105,000 jobs, far below the estimated -25,000. This marks a pronounced slowdown in labor market momentum.

Analysts are labeling it an outlier, reflecting disruptions from delayed government data collection and seasonal adjustments.

*US OCT. NONFARM PAYROLLS FALL 105K M/M; EST. -25K

this is all govt and an outlier

— zerohedge (@zerohedge) December 16, 2025

November posted a 64,000 gain, slightly above the 50,000 consensus, but with the unemployment rate climbing to 4.6% from 4.4% in October, higher than the expected 4.5%.

🚨 Just In: November Nonfarm Payrolls rise 64,000, above expectations for 40,000.

The U.S. Unemployment Rate rose from 4.4% to 4.6%, worse than estimates for 4.5%.

What will Jerome Powell do now? pic.twitter.com/kFozsmOsgh

— Jesse Cohen (@JesseCohenInv) December 16, 2025

While November’s rise offers some relief, it highlights the uneven nature of recent US labor market activity.

Fed and Market Implications For Bitcoin and Risk Assets

The data is likely to reinforce dovish narratives for the Federal Reserve. Powell previously cited a weakening labor market as justification for rate cuts, and today’s figures suggest the economy is far from overheated.

Traders may interpret the report as a signal that further easing in 2026 is plausible, which could support risk assets, including Bitcoin, if liquidity expectations remain intact. Bitcoin has been trapped near $90,000, and today’s data could trigger short-term volatility.

A weak October print followed by a modest November recovery may fuel a relief rally toward $95,000 as markets price in potential Fed accommodation.

Conversely, the unexpectedly high unemployment rate could reignite recession fears, creating whipsaw moves in crypto, equities, and FX.

“While markets typically cheer the resolution of uncertainty, this specific data dump is unique. The cooling trend might spark an initial crypto rally on renewed hopes for aggressive Fed cuts in 2026. But if the numbers are too weak, the narrative could quickly pivot from liquidity hopes to recession fears, historically dampening risk appetite across the board,” Jimmy Xue, COO and Co-founder at Axis, told BeInCrypto.

Market participants remain wary. With October’s data representing an outlier and November’s figures collected late, statistical distortions and revisions are possible.

Algorithm-driven trading and lean liquidity could amplify volatility in the near term, making measured positioning critical.

Amid mixed signals, traditional safe havens like gold may continue to attract flows, as the US dollar faces pressure and risk sentiment remains fragile in tech-heavy sectors.

Chart of the Day

Byte-Sized Alpha

Here’s a summary of more US crypto news to follow today:

• Why Scott Bessent is cracking down on Congress’s stock trading.
• The final trade of 2025: What Wall Street’s rotation means for crypto.
• Grayscale predicts 10 key crypto investment themes for 2026 as institutional era begins.
• Trump hints at Samourai Wallet pardon — Another after CZ, Ulbricht
• XRP ETFs log one month of inflows as BTC, ETH funds bleed $4.6 billion.
• Gold nears ATH again as Bitcoin hits historic low—Rotation ahead?
• Markets rethink rate bets as Miran challenges inflation narrative before November CPI release.
•  JPMorgan’s Ethereum push meets a critical chart test — Rebound or breakdown?

Crypto Equities Pre-Market Overview

Company	At the Close of December 15	Pre-Market Overview
Strategy (MSTR)	$162.08	$165.23 (+1.94%)
Coinbase (COIN)	$250.42	$253.61 (+1.27%)
Galaxy Digital Holdings (GLXY)	$24.54	$24.59 (+0.20%)
MARA Holdings (MARA)	$10.70	$10.82 (+1.12%)
Riot Platforms (RIOT)	$13.71	$13.81 (+0.73%)
Core Scientific (CORZ)	$15.28	$15.27 (-0.065%)

The post The Nonfarm Payrolls Surprise That Could Rattle Bitcoin Before Christmas | US Crypto News appeared first on BeInCrypto.

Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.

Grab a coffee, because Wall Street has just sent another signal that crypto’s future is becoming increasingly institutional. As JPMorgan moves a core financial product on-chain, market watchers are wondering whether this is merely experimentation or a deeper shift toward Ethereum as an economic infrastructure.

Crypto News of the Day: JPMorgan Takes Money Markets On-Chain with Ethereum-Powered Fund

JPMorgan Chase has taken another decisive step into blockchain-based finance, launching its first tokenized money market fund on the Ethereum network.

According to reporting by WSJ, the banking giant’s $4 trillion asset-management arm has rolled out the My OnChain Net Yield Fund, or MONY. It is a private money market fund deployed on Ethereum and supported by JPMorgan’s tokenization platform, Kinexys Digital Assets.

The bank will seed the fund with $100 million of its own capital before opening it to outside investors, signaling strong internal conviction in tokenized financial products.

JPMORGAN STEPS FURTHER INTO CRYPTO WITH TOKENIZED MONEY FUND

The banking giant’s $4 trillion asset-management arm is rolling out its first tokenized money-market fund on the Ethereum blockchain. JPMorgan will seed the fund with $100 million of its own capital, and then open it… pic.twitter.com/TTlS5E1MyV

— Evan (@StockMKTNewz) December 15, 2025

MONY is structured for institutional and high-net-worth participation only. It is open to qualified investors, including individuals with at least $5 million in investable assets and institutions with a minimum of $25 million, as well as a $1 million investment minimum.

Investors receive digital tokens representing their fund interests, bringing traditional money-market exposure onto blockchain rails while preserving familiar yield dynamics.

According to the report, JPMorgan executives attribute client demand as the driving force behind the launch.

“There is a massive amount of interest from clients around tokenization,” read an excerpt in the report, citing John Donohue, head of global liquidity at JPMorgan Asset Management.

He added that the firm expects to be a leader in the space by offering blockchain-based equivalents to traditional money-market products.

The launch comes amid accelerating momentum for tokenized assets on Wall Street, following the passage of the GENIUS Act earlier this year.

The legislation established a US regulatory framework for stablecoins and is widely viewed as a catalyst for broader tokenization efforts across funds, bonds, and real-world assets.

Since then, major financial institutions have moved quickly to explore blockchain as core market infrastructure rather than a peripheral experiment.

For Ethereum, JPMorgan’s decision to deploy MONY on its network is being read as a meaningful institutional endorsement. Fundstrat co-founder Tom Lee reacted to the news by calling it “bullish for ETH.”

This is bullish for $ETH https://t.co/LdGMHYKM9P

— Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) December 15, 2025

This comment highlights how products like MONY expand Ethereum’s real-world utility through transaction activity, smart contract execution, and deeper integration into global finance.

Crypto commentators echoed the sentiment, with some arguing that Ethereum’s role as the settlement layer for regulated financial products is becoming increasingly difficult to ignore.

JPMorgan vs. BlackRock: Tokenized Money Market Funds Signal a New Era in Finance

JPMorgan’s move also invites comparisons with BlackRock’s tokenized money market fund, BUIDL, which has grown to roughly $1.83 billion in assets under management, according to public blockchain data.

Like MONY, BUIDL invests in short-term US Treasuries, repurchase agreements, and cash equivalents. However, it follows a multi-chain strategy and is administered through a different tokenization partner.

Together, the two funds highlight a broader trend that traditional finance (TradFi) firms are converging on blockchain to modernize low-risk, yield-bearing products.

More broadly, analysts view tokenization as a means for traditional money market funds to remain competitive with stablecoins, while unlocking new use cases such as on-chain settlement, programmability, and enhanced transferability.

JPMorgan has already experimented with tokenized deposits, private equity funds, and institutional payment tokens, suggesting that MONY is part of a longer-term strategy rather than a standalone pilot.

As regulatory clarity improves and institutional participation deepens, JPMorgan’s Ethereum-based fund reinforces the narrative that blockchain, once seen as niche, is steadily becoming an integral part of the operating system of modern finance.

For Ethereum, that shift may prove to be one of the most consequential signals yet.

Chart of the Day

Byte-Sized Alpha

Here’s a summary of more US crypto news to follow today:

• Russell 2000 sets new highs, rekindling a familiar Bitcoin pattern.
• One critical XRP price level surfaces — Holding it could trigger a 9% bounce.
• Top 3 price predictions: Bitcoin, gold, and silver signal a high-stakes turning point.
• What does the stock–crypto investor divide signal for the future?
• Base creator Jesse Pollak sparks backlash by endorsing Soulja Boy–linked meme token.
• Bitcoin loses whale support? Yet history shows the price can still rise.
• Yuan at 14-month high as Fed-BOJ-PBOC split — crypto impact.
• Coinbase CLO Paul Grewal: NYT’s SEC crypto story admits no impropriety—So why the headline?

Crypto Equities Pre-Market Overview

Company	At the Close of December 12	Pre-Market Overview
Strategy (MSTR)	$176.45	$176.75 (+0.17%)
Coinbase (COIN)	$267.46	$268.40 (+0.35%)
Galaxy Digital Holdings (GLXY)	$26.75	$26.75 (0.00%)
MARA Holdings (MARA)	$11.52	$11.56 (+0.35%)
Riot Platforms (RIOT)	$15.30	$15.31 (+0.065%)
Core Scientific (CORZ)	$16.53	$16.65 (+0.73%)

The post Tom Lee Spots a Big Ethereum Signal in JPMorgan’s Tokenization Push| US Crypto News appeared first on BeInCrypto.

Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.

Grab a coffee as global markets quietly shift with Japan’s bond yields surging and the BoJ hinting at a rate hike. The decades-long yen carry trade, which fueled stocks, crypto, and risk assets, could be unraveling faster than anyone expects.

Crypto News of the Day: Bitcoin Braces as BoJ May End Decades of Cheap Money

Global markets are bracing for a potential macro shock as the Bank of Japan (BoJ) prepares for its December 18–19 monetary policy meeting.

Traders now price a 90% chance of a 25 basis point rate hike, following signals from BoJ Governor Kazuo Ueda and persistent inflation above 2%.

Japan’s 2-year government bond yield has climbed above 1%, its highest since the 2008 Global Financial Crisis, while the 10-year JGB hit a 17-year high, highlighting rising borrowing costs.

Why the Yen Carry Trade Matters

For nearly three decades, the yen carry trade fueled global risk-taking. Investors borrowed yen at ultra-low rates, converted it to dollars, and deployed capital into higher-yielding assets, including US stocks, bonds, and cryptocurrencies like Bitcoin.

When Japan raises rates or the yen strengthens, this trade unwinds violently, forcing rapid asset sales.

The consequences are not hypothetical: in August 2024, a BoJ hike triggered a $600 billion crypto market wipe, including Bitcoin falling to $49,000 and $1.14 billion in liquidations. Analysts warn that a similar scenario could repeat if Japanese yields rise further.

🚨 The BOJ is about to shake crypto markets
🇯🇵Japan's likely rate hike to 80% Dec 18-19 – this threatens the yen carry trade that's been funding $BTC & risk assets for years
Last time they hiked was Aug 2024.

🔥BTC crashed to $49K
$600B wiped from crypto
$1.14B in liquidations…

— PaulBarron (@paulbarron) December 5, 2025

Besides Paul Barron, analyst Great Martis also calls the BoJ hike a potential “canary in the coal mine” for crypto and global markets.

“When the reckless BOJ is forced to raise rates, the yen carry trade will begin to unwind, causing market turmoil. Canary in the coal mine,” Martis wrote in a post.

Meanwhile, early signs of stress are emerging, as hedge funds and institutional investors closely monitor the simultaneous tightening of liquidity in Japan, the US, and China. This rare convergence could accelerate deleveraging.

Nonetheless, counterpoints exist. Analyst Negentropic notes that most leverage has already been flushed since October. In the same tone, Bob Elliot argues the yen carry trade is largely muted.

The Yen Carry Trade Is Dead

Despite a falling FX and low rates, the yen carry trade remains muted. Naked FX borrowing ended with the GFC, with the only thing left a lingering nostalgia for a trade that mattered 20yrs ago.https://t.co/1h7Zlp3KVQ pic.twitter.com/2llIZerTqt

— Bob Elliott (@BobEUnlimited) December 2, 2025

Yet even modest unwinding could pressure highly leveraged crypto positions and risk assets globally.

If QE Is Not the Immediate Solution, What’s Next for Bitcoin and Global Risk Assets?

Nic Puckrin, co-founder of Coin Bureau, emphasizes that quantitative easing (QE) historically follows a crisis, not routine rate adjustments.

The current tightening in Japan, the US, and China suggests that markets may face further drawdowns before any liquidity support arrives. Investors betting on easy money could face sharper-than-expected volatility.

Crypto markets are often the first to absorb funding shocks, making Bitcoin and Ethereum bellwethers for liquidity stress.

With the BoJ’s rate decision looming, traders should monitor:

• JGB yields,
• USD/JPY levels, and
• Leveraged positions.

If Japan continues tightening, global deleveraging could persist into 2026, testing the resilience of both crypto and traditional markets.

The era of free Japanese money appears to be coming to an end. Markets now face a higher-volatility environment, where fundamental value may replace cheap leverage as the main driver of asset prices.

Chart of the Day

Byte-Sized Alpha

Here’s a summary of more US crypto news to follow today:

• Why XRP price refuses to rise despite Ripple’s mega moves.
• Polymarket trader makes $1 million on Google search bets, sparking insider trading fears.
• Bitcoin exchange supply nears 5-year low after $2 billion buy this week.
• IMF warns stablecoins pose financial stability risks as cross-border flows surpass Bitcoin and Ethereum.
• Four reasons December could be the best time to start DCA into altcoins.
• Wolfe Research identifies ‘maximum disagreement’ as key Bitcoin market signal: What this means.
• Yi He to women: “No one goes easy on you in business.”

Crypto Equities Pre-Market Overview

Company
Strategy (MSTR)	$186.01	$184.62 (-0.75%)
Coinbase (COIN)	$274.05	$273.30 (-0.27%)
Galaxy Digital Holdings (GLXY)	$27.57	$27.73 (+0.58%)
MARA Holdings (MARA)	$12.44	$12.37 (-0.57%)
Riot Platforms (RIOT)	$15.59	$15.57 (-0.13%)
Core Scientific (CORZ)	$17.08	$17.09 (+0.059%)

The post Yen Carry Trade Collision: Bank of Japan’s Rate Shock Aims at Bitcoin | US Crypto News appeared first on BeInCrypto.

Central banks purchased a net 53 tonnes of gold in October 2025, a 36% month-over-month surge that brought the monthly total to the highest of the year.

This aggressive gold accumulation reflects growing concerns over macroeconomic uncertainty and a strategic shift away from traditional dollar-denominated assets.

Record Gold Purchases Signal Strategic Shift

According to World Gold Council data, central banks purchased a net 53 tonnes of gold in October alone—the highest monthly demand this year—led by Poland, Brazil, and emerging market economies.

Central banks acquired 254 tonnes year-to-date through October, making 2025 the fourth-highest year for gold accumulation this century. This trend highlights concerns about economic stability and currency diversification.

The National Bank of Poland led the activity, buying 16 tonnes in October. This brought Poland’s reserves to a record 531 tonnes, or about 26% of its total foreign exchange reserves. Brazil also bought 16 tonnes, while Uzbekistan added 9 tonnes and Indonesia acquired 4 tonnes. Turkey, the Czech Republic, and the Kyrgyz Republic expanded by 2 to 3 tonnes each. Meanwhile, Ghana, China, Kazakhstan, and the Philippines increased holdings, and Russia reduced its reserves by 3 tonnes to 2,327 tonnes.

Central banks are ramping up gold purchases:

Global central banks purchased +53 tonnes of gold in October, the most since November 2024.

This marks a +194% jump compared to July, and the 3rd-straight monthly acceleration.

In the first 10 months of the year, central banks have… pic.twitter.com/7pZWyEjjvf

— The Kobeissi Letter (@KobeissiLetter) December 4, 2025

95% of surveyed central banks expect reserves to climb next year. Serbia plans to nearly double its gold reserves to 100 tonnes by 2030, while Madagascar and South Korea are considering similar expansion. The sustained demand remains despite high gold prices, emphasizing gold’s strategic importance in uncertain times.

United States Establishes Bitcoin as National Reserve Asset

The trend is now spilling over into digital assets. As sovereign institutions diversify their reserves, Bitcoin is increasingly entering the conversation as a potential complement to gold.

In the United States, Senator Cynthia Lummis stated that funding for the Strategic Bitcoin Reserve “can start anytime,” citing President Trump’s executive order designating Bitcoin as a national reserve asset. The Treasury currently manages approximately 200,000 BTC—worth roughly $17 billion—under a budget-neutral framework using seized assets.

The House’s 2026 appropriations bill requires a 90-day Treasury study on custody, standards, and AI for sanctions enforcement. It also bans funds for a central bank digital currency. No further Bitcoin purchases are mandated beyond seized assets, leaving future reserve growth open for debate.

VanEck’s economic modeling projects that acquiring one million Bitcoin by 2029 could offset about 18% of the US national debt by 2049. CoinShares analysts suggest the reserve could strengthen technological leadership and offer inflation protection. Chainalysis economists, however, warn that simultaneous accumulation by many nations could affect market stability.

States and Nations Race to Build Bitcoin Reserves

Texas has already taken action. On November 20, it became the first US state to purchase Bitcoin for its treasury, acquiring $10 million through BlackRock’s spot Bitcoin ETF when prices briefly dipped to $87,000. The move signals a growing appetite among state governments to treat Bitcoin as a strategic asset.

The momentum is not limited to America. Taiwan’s legislature has urged the government to audit its Bitcoin holdings and consider adding cryptocurrency to its strategic reserves, with Premier Cho Jung-tai pledging a detailed report by year-end. Lawmakers cited concerns about the island’s heavy reliance on U.S. dollar assets, which account for over 90% of its $602.94 billion in foreign reserves.

Deutsche Bank analysts project that Bitcoin could appear on central bank balance sheets by 2030, coexisting with gold as a complementary hedge against inflation and geopolitical risk. As nations race to secure both traditional and digital safe-haven assets, the global reserve landscape may be on the verge of a historic transformation.

The post Central Banks Are Stockpiling Gold: Bitcoin Could Be Next appeared first on BeInCrypto.

Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.

Grab a coffee and brace for Wall Street’s latest twist: a Bitcoin-native company is about to hit the NYSE. Shareholders have approved a major merger, putting billions in Bitcoin under one roof and signaling a shift in how crypto meets traditional markets.

Crypto News of the Day: Twenty One Capital Gains NYSE Approval

Cantor Equity Partners (CEP) shareholders voted to approve the merger with Twenty One Capital, clearing the final major hurdle for the business combination.

The deal, subject to standard closing conditions, is expected to finalize on December 8, 2025. Following the completion, the merged entity will operate under the Twenty One Capital name and begin trading the next day (December 9).

Strike CEO Jack Mallers will lead the company, which Tether and Bitfinex hold as majority owners. The firm markets itself as the first Bitcoin-native company preparing for a public listing, offering investors a regulated pathway to gain exposure to the cryptocurrency.

“Following the consummation of such transactions, the combined company will operate as Twenty One Capital, Inc., and its shares of Class A common stock are expected to trade on the New York Stock Exchange (“NYSE”) beginning on December 9, 2025, under the symbol XXI,” read an excerpt in the announcement.

Public Equity Exposure to Bitcoin Amid Crypto and Banking Frictions

Twenty One Capital currently holds 43,514 BTC, valued at approximately $4 billion, making it the third-largest Bitcoin holder among publicly traded companies, after Strategy and MARA Holdings.

The firm emphasizes “capital-efficient Bitcoin accumulation” and plans to introduce a “Bitcoin Per Share” metric. This metric would enable shareholders to track Bitcoin holdings in real time with auditable on-chain proof-of-reserves.

“This listing provides a transparent, regulated way for investors to access Bitcoin without directly holding the asset,” the company added.

The NYSE debut also positions Twenty One Capital as a bridge between crypto-native operations and traditional equity markets, potentially reshaping investor access to digital assets.

“…offers investors a new way to gain BTC exposure via the equity markets,” commented Conor Kenny, a popular user on x (Twitter).

The announcement comes amid wider discussions about the banking sector’s relationship with crypto firms. In late November, Jack Mallers revealed that JPMorgan Chase abruptly closed his personal accounts without explanation, fueling fears of “debanking” in the crypto industry.

Tether CEO Paolo Ardoino described the move as an opportunity for crypto executives to operate independently of centralized financial institutions.

I think it's for the best

— Paolo Ardoino 🤖 (@paoloardoino) November 23, 2025

These tensions coincide with broader market scrutiny. JPMorgan is currently monitoring potential MSCI reclassification rules that could impact companies with significant Bitcoin holdings, such as MicroStrategy.

Analysts estimate that index changes could trigger billions in passive fund outflows, potentially as high as $9 billion for MicroStrategy.

As Twenty One Capital prepares to trade under the “XXI” ticker on December 9, market participants will watch for trading volumes, investor appetite, and the reception of the Bitcoin-per-share metric.

The listing could set a precedent for other crypto-native firms seeking regulated market exposure, potentially broadening institutional and retail participation in the Bitcoin economy.

Chart of the Day

Byte-Sized Alpha

Here’s a summary of more US crypto news to follow today:

• Kevin Hassett sparks a crypto–bond market split as Fed race heats up.
• One bullish XRP metric hits a 3-month high — So why can’t the price break out?
• Peter Schiff to CZ: ‘Bitcoin payments? They’re just liquidated bets.’
• Vienna crypto murder shocks Europe as kidnapping wave escalates.
• Citadel Securities turns against DeFi while pouring $500 million into Ripple.
• Three crypto narratives surge in December 2025—Top picks for 2026?
• Tom Lee’s relentless ETH buying puts BMNR stock on a possible 55% breakout path.

Crypto Equities Pre-Market Overview

Strategy (MSTR)	$188.39	$187.82 (-0.30%)
Coinbase (COIN)	$276.92	$275.85 (-0.39%)
Galaxy Digital Holdings (GLXY)	$27.05	$26.93 (-0.44%)
MARA Holdings (MARA)	$12.47	$12.45 (-0.16%)
Riot Platforms (RIOT)	$15.64	$15.57 (-0.45%)
Core Scientific (CORZ)	$16.55	$16.50 (-0.30%)

The post Wall Street Braces as Bitcoin Goes Public for the First Time | US Crypto News appeared first on BeInCrypto.

From Nov. 24 to Dec. 2, 2025, JPMorgan launched leveraged notes tied to BlackRock’s Bitcoin ETF, Vanguard reversed its crypto ban, and Nasdaq quadrupled IBIT options limits. Three moves in nine days created one outcome: Bitcoin’s absorption into traditional finance and institutions.

Analyst Shanaka Anslem Perera describes that this rapid convergence marked a foundational change in how institutional capital accesses digital assets. Leading banks and asset managers expanded crypto offerings, distribution channels, and regulatory frameworks, redefining Bitcoin’s role in global finance.

The November Convergence: Coordinated Infrastructure Expansion

Traditional finance long observed Bitcoin from a distance. By late 2025, however, digital asset infrastructure reached a tipping point. The transformation began with SEC approval of spot Bitcoin ETFs in January 2024, offering a regulated path for institutional investment.

JPMorgan’s Nov. 24 filing detailed leveraged structured notes providing up to 1.5x returns on BlackRock’s iShares Bitcoin Trust ETF through 2028. These securities targeted sophisticated investors seeking amplified exposure while retaining legal protections. Notably, the notes exposed investors to significant downside, risking principal loss if IBIT declined by roughly 40 percent or more.

That same week, Nasdaq announced on Nov. 26 that it would raise IBIT options position limits from 250,000 to 1,000,000 contracts. This acknowledged the growth in both market capitalization and volume, supporting the need for volatility-hedged products for institutional portfolios. As Perera’s structural analysis noted, broader options infrastructure allowed institutions to manage Bitcoin volatility, aligning digital assets with standard risk controls.

On Dec. 2, Vanguard completed the picture. The world’s second-largest asset manager reversed its long-standing opposition and opened Bitcoin and crypto ETFs to clients holding around $11 trillion in assets. Vanguard’s move, made during a market correction, signaled strategic timing rather than speculative chasing.

Retail Capitulation Meets Institutions’ Allocation

This turning point coincided with a wave of retail exits. Bitcoin ETF redemptions soared as individual investors sold amid price drops. Meanwhile, institutional capital took the other side. Abu Dhabi Investment Council and similar sovereign entities increased their Bitcoin allocations as retail sentiment reversed.

Bank of America authorized 15,000 financial advisers to allocate Bitcoin to wealth clients starting Jan. 5, 2026. Advisers recommended a 1 to 4 percent exposure for clients able to stomach volatility, highlighting four ETFs: the Bitwise Bitcoin ETF, the Fidelity Wise Origin Bitcoin Fund, the Grayscale Bitcoin Mini Trust, and the BlackRock iShares Bitcoin Trust. This guidance marked a significant shift for an institution with $2.67 trillion in assets across more than 3,600 branches.

“2024: Vanguard CEO says they will not offer Bitcoin ETFs 2025: Vanguard offers Bitcoin ETFs to 50 million clients Vanguard and JPMorgan have bent the knee,” eOffshoreNomad posted.

Similarly, BlackRock recommended allocating up to 2 percent of portfolios to Bitcoin, citing risk levels comparable to those of the “Magnificent 7” technology stocks. The unified approach across institutions suggested coordinated messaging, if not formal cooperation. Advisers received consistent direction on allocations, risk communication, and client selection from competing firms.

Goldman Sachs took a different approach by acquiring Innovator Capital Management for about $2 billion. This gave Goldman instant distribution and compliance pathways for crypto products, saving years of internal development and providing an established network.

MSCI Index Exclusion: Eliminating Competing Models

While financial institutions expanded ETF infrastructure, other models faced obstacles. On Oct. 10, 2025, MSCI announced a consultation to exclude firms with substantial digital asset treasury holdings from major indices. The preliminary list included Strategy Inc., Metaplanet, and similar companies that pioneered corporate treasury Bitcoin adoption.

The proposal targeted companies in which Bitcoin or other digital assets accounted for an outsized share of the balance sheet. Removal from the MSCI Global Investable Market Indices would force these firms out of passive investment funds and major benchmark-tracking ETFs. The consultation is open until Dec. 31, 2025, with final decisions coming by Jan. 15, 2026.

The timing was notable. Strategy Inc., for example, attracted those wanting Bitcoin exposure without financial intermediaries or ETF fees. But, as MSCI proposed exclusion, major banks introduced new fee-generating ETF options. This created pressure on alternative exposure approaches.

Regulatory clarity accelerated institutional adoption through 2025. Laws such as the GENIUS Act and related orders defined the treatment of digital assets and reduced legal risks for large financial firms. These rules aligned digital assets with existing securities compliance, encouraging institutional entry.

Fee-Based Capture and the End of Alternative Exposure

The nine-day convergence was about more than new products. It firmly established Bitcoin as a fee-earning asset class for traditional finance. Leveraged notes, options, and ETF allocations each bring recurring revenue, while direct treasury and self-custody models now face obstacles such as index exclusions and higher regulatory requirements.

With expanded options, institutions can now manage volatility, making Bitcoin suitable for risk-parity portfolios and mandates with strict limits. The infrastructure shift means Bitcoin now acts as a portfolio component, not just a speculative asset. Yet, this shifts price discovery to derivatives, not spot trading.

The institutional system mirrors other asset classes. Allocations and risk disclosures are harmonized. Licensed advisers guide clients, and products feature standardized fees and messaging. Bitcoin, initially meant to circumvent the system, is now absorbed into the very architecture it once challenged.

The post How Nine Days Redefined Bitcoin Ownership: Absorbed by Institutions appeared first on BeInCrypto.

Crypto markets sold off sharply after Japan’s 10-year government bond yield surged to its highest level since 2008. The move triggered a wave of global de-risking and one of the largest liquidation events in weeks.

The move erased billions of dollars in digital-asset value, highlighting just how exposed crypto remains to macroeconomic liquidity shifts far outside its own ecosystem.

Japan’s Yield Spike: The Yen Carry Trade Unwinds and Crypto Feels It First

The total crypto market cap declined by approximately 5% over the last 24 hours, with Bitcoin and Ethereum prices falling by more than 5%.

According to Coinglass, more than 217,000 traders were liquidated during the downturn, resulting in a loss of almost $640 million in positions.

This illustrates how quickly leverage can evaporate when global rates move violently.

The catalyst came from Tokyo, where the 10-year Japanese government bond yield spiked to 1.84%, a level not seen since April 2008.

BREAKING: Japan's 10Y Government Bond Yield surges to 1.84%, its highest level since April 2008.

This chart is concerning to say the least. pic.twitter.com/fBkMMyBnqy

— The Kobeissi Letter (@KobeissiLetter) December 1, 2025

The prevailing sentiment is that the yield breakout is more than just a technical move. It signals that the decades-long yen carry trade may finally be unwinding.

For nearly 30 years, Japan’s near-zero interest rates allowed investors to borrow cheaply in yen and deploy capital into higher-yielding assets abroad. Such avenues include:

• US Treasuries
• European bonds
• Risk assets like equities and crypto.

Rising yields in Japan threaten to reverse this flow, pulling capital back home and tightening liquidity globally.

“For 30 years, the Yen Carry Trade subsidized global arrogance — zero rates… free leverage… fake growth… entire economies built on borrowed time and borrowed money. Now Japan has reversed the switch. Rates climbed. Yen strengthened. And the world’s favourite ATM just turned into a debt-collector,” wrote data scientist ViPiN on X (Twitter).

When Japanese yields rise, global liquidity contracts, leading to a repricing across the market. This likely explains why Silver (XAG) has not yet experienced its Supercycle, and Bitcoin is dealing with late-cycle volatility.

“Japan is draining liquidity, Bitcoin is absorbing the shock, and Silver is preparing for the repricing of a lifetime,” stated one analyst in a post.

Crypto’s Sell-Off Isn’t Local, It’s a Macro Liquidity Crunch

Shanaka Anslem, an ideologist and popular user on X (Twitter), described the JGB breakout as “the chart that should terrify every portfolio manager.

THE CHART THAT SHOULD TERRIFY EVERY PORTFOLIO MANAGER ON EARTH

Japan’s 10 Year Government Bond Yield just hit 1.84%.

The highest since April 2008.

Up 11.19% in a single session.

You need to understand what this means.

For three decades, Japan was the anchor. Zero rates.… https://t.co/1mpX0HuPdp

— Shanaka Anslem Perera ⚡ (@shanaka86) December 1, 2025

The strategist, who has reportedly witnessed infrastructural breakdowns, currency shocks, and state-level crises, cited:

• Inflation above 3%,
• Higher wage growth, and
• A Bank of Japan that is increasingly losing its ability to suppress yields.

These forces are pushing Japan into a structural shift away from the ultra-loose monetary regime that defined global markets for decades.

“When Japan raises rates, it sucks liquidity out of the global system. The “fuel” that powered the stock market rally is being drained. We can expect volatility in high-growth stocks as this “cheap money” era ends,” added another investor in a post.

The timing of the move is especially significant. The Federal Reserve has just ended its quantitative tightening program, the US faces record Treasury issuance, and interest payments on US debt have crossed the $1 trillion annual mark.

Meanwhile, China, historically one of the largest foreign buyers of US Treasuries, has slowed its accumulation. With Japan now under pressure to repatriate capital, two of America’s most important external funding sources are simultaneously stepping back.

“When the world’s creditor nations stop funding the world’s debtor nations at artificially suppressed rates, the entire post-2008 financial architecture must reprice. Every duration bet. Every leveraged position. Every assumption about perpetually falling rates. This is not a Japanese story. This is the global story. The 30-year bond bull market ended. Most just have not realized it yet,” Shanaka articulated.

Crypto, as one of the highest-beta corners of global markets, tends to react first when liquidity tightens. The scale of the liquidations suggests that leveraged traders were caught offside by the bond volatility, forcing rapid position unwinds across major assets.

Rather than a crypto-specific meltdown, the sell-off reflects a broad revaluation of duration, leverage, and risk as global bond markets reset.

Therefore, traders should probably watch Japan’s bond market as closely as they watch Bitcoin charts. If JGB yields continue to rise, it could tighten global liquidity through the end of the year.

The post Japan’s Bond Shock Slams Crypto: $640 Million Liquidated as 10-Year JGB Hits 17-Year High appeared first on BeInCrypto.

The first week of December 2025 features critical US economic events that will influence monetary policy expectations and Bitcoin’s direction, as traders prepare for potential Federal Reserve (Fed) actions.

Bitcoin investors face a pivotal week as Federal Reserve Chair Jerome Powell speaks on December 1, coinciding with the official end of quantitative tightening (QT). With odds of a rate cut in December now at 86%, significant volatility is expected across risk assets.

Powell’s Speech and End of QT

Fed Chair Jerome Powell is set to address markets on Monday, December 1, at 8:00 pm ET. This date marks not just his highly anticipated speech but also the official end of the Federal Reserve’s quantitative tightening program, an important policy shift announced by the FOMC in October.

“The Committee decided to conclude the reduction of its aggregate securities holdings on December 1,” read an excerpt in the Fed’s October 29 statement.

This decision reflects the presence of ample reserves in the banking system. Powell’s remarks come amid speculation about possible changes in Fed leadership, introducing another layer of market uncertainty.

🚨 BREAKING:

JEROME POWELL WILL GIVE A SPEECH ON DECEMBER 1ST AND QT ENDS THE SAME DAY.

RATE CUT ODDS FOR DECEMBER HAVE NOW SURGED TO 86%.

I WILL KEEP YOU UPDATED ON THE OUTCOME, NOTIS ON.

HUGE VOLATILITY AHEAD. pic.twitter.com/MV7UhJWUWi

— NoLimit (@NoLimitGains) November 30, 2025

Because Powell’s speech takes place just before the Fed’s blackout period ahead of the December policy meeting, it is likely to have outsized importance.

Any hints regarding future rates could trigger immediate market reactions. Ending quantitative tightening signals a shift toward a more accommodative monetary policy, possibly increasing dollar liquidity.

Adding to the uncertainty, reports indicate President Trump has selected Powell’s replacement, though there is no official announcement yet.

This speculation may boost volatility, as markets weigh the prospect of a new chair who could push for faster rate cuts.

ADP Employment

Automatic Data Processing Inc. (ADP), the largest payroll processor in the US, is set to release the ADP Employment Change report for November, which measures the change in the number of people privately employed in the US, at 8:15 am ET on Wednesday. 

The prior November report showed just 42,000 jobs added, according to MarketWatch’s economic calendar. New data will provide key insights into the health of the labor market ahead of the official government jobs numbers.

A strong employment figure could reduce chances of a rate cut and put pressure on Bitcoin and other risk assets. In contrast, weak job growth would reinforce the case for Federal Reserve easing, which typically benefits crypto markets.

The colloquial AI bubble is expected to play a role in the US jobs report this week, even as different industry experts express their sentiment.

For the record, U.S. stocks peaked in October 2007 and the economy entered recession in December 2007. As of now, the S&P 500 peaked in October.

ADP private payroll job creation year to date is at the same level it was at when the GFC recession started.

Is the AI super bubble… pic.twitter.com/yqI4WcjEz2

— Mac10 (@SuburbanDrone) November 30, 2025

Labor statistics are crucial for the Fed’s dual mandate and guide policy decisions.

Initial Jobless Claims

Initial jobless claims arrive on Thursday, December 4, at 8:30 am ET. As a weekly measure of layoffs, this report provides a real-time view of labor market conditions. It determines the number of US citizens who filed for unemployment insurance for the first time last week.

INITIAL JOBLESS CLAIMS REPORT 📉

This week’s initial claims held steady near 220K, close to recent multi-year lows — signaling continued labor market resilience.

Key highlights:

🔴Initial claims remain far below recession-trigger levels, reinforcing the soft-landing narrative.… pic.twitter.com/ggNRWeDo4E

— Zeiierman Trading (@zeiierman) November 26, 2025

Rising claims may indicate economic weakness and support calls for easier monetary policy, while falling claims would suggest resilience and less urgency for rate cuts.

Historically, Bitcoin has been highly sensitive to employment releases since they shape Fed monetary outlooks and liquidity.

Traders often position ahead of these reports, generating increased volatility in both spot and derivatives markets.

PCE Inflation Data

Friday, December 5, brings the PCE (Personal Consumption Expenditures) price index at 8:30 am ET, the Fed’s preferred inflation benchmark.

This report is pivotal, as it tracks progress toward the central bank’s 2% goal. It will be released alongside personal income and spending data, providing a comprehensive view of consumer health.

Investors will focus on both headline and core PCE numbers. A softer reading could confirm the disinflation trend, solidifying expectations for a December rate cut.

Data from the CME Fed Watch Tool shows that interest bettors wager an 87.6% chance of a rate cut in the December 10 meeting, against a 12.4% chance that policymakers will hold steady.

Conversely, persistent inflation would prompt caution from the Fed, possibly disappointing markets looking for aggressive easing.

Consumer sentiment is reported at 10:00 am ET, with the prior value at 51.0 on the economic calendar. This data gauges household views on the economy and spending. Weakening sentiment can signal slowing demand and further support the case for easier monetary policy, which often lifts Bitcoin.

These four key economic releases in a single week create a high-stakes environment for digital asset markets. Bitcoin’s correlation with traditional risk assets means macroeconomic news is likely to drive market direction more than crypto-specific events.

As the first week of December commences, the interplay between jobs data, inflation trends, and the Federal Reserve’s stance will determine Bitcoin’s momentum and response to changing monetary policy signals.

The post 4 US Economic Events to Shake Bitcoin Sentiment in First Week of December 2025 appeared first on BeInCrypto.

Japan’s 2-year government bond yield surged to 1% on December 1, its highest since 2008. Bank of Japan Governor Kazuo Ueda signaled a possible interest rate hike at the December 18-19 monetary policy meeting, sending ripples through global financial markets.

This development could mark the end of three decades of ultra-low interest rates that fueled the yen carry trade. As borrowing costs rise and the yen strengthens, global markets now brace for significant deleveraging across asset classes.

Bond Yields Climb as Rate Hike Expectations Grow

Japan’s bond market moved sharply following Ueda’s recent statements. The 2-year note yield rose by one basis point to 1%. Longer-dated bonds also saw gains: five-year yields rose about four basis points to 1.35%, and 10-year yields climbed to 1.845%, according to Bloomberg data.

During trading, 10-year government bond yields reached 1.850%, their highest level since June 2008. This 17-year high highlights market belief that the BOJ will tighten policy soon. The shift in yields underscores the rapid change in investor sentiment on the central bank’s next move.

Markets responded quickly. The yen gained as much as 0.4% against the dollar, trading at 155.49 on December 1. This reversal from November’s levels reflects growing expectations of higher Japanese interest rates, which are making yen assets newly attractive.

At a business meeting in Nagoya, Ueda stated that reduced uncertainty around the US economy and tariffs bolstered confidence in Japan’s economic and price outlook. He reaffirmed that timely rate changes are key for financial stability and meeting the 2% inflation target.

Inflation and Fiscal Policy Drive Shift Toward Tightening

The government’s expansionary fiscal policy has added to inflation pressures, building a case for monetary tightening. Yen depreciation has lifted import prices, fueling consumer inflation and raising questions about the sustainability of price stability. Governor Ueda highlighted the growing impact of a weaker yen on import costs and warned that expectations could affect core inflation.

Market forecasts now suggest the BOJ’s policy rate could reach 1.4% following three 25-basis-point hikes from the current 0.5% rate. Based on Overnight Indexed Swap rates and 1-year forward rates, expectations are clearly rising. Katsutoshi Inatome of Mitsui Sumitomo Trust said that a hike in December would push future rate estimates even higher.

The BOJ faces a careful balance. While lifting rates tackles inflation and supports the currency, it could disrupt financial flows that have relied on cheap Japanese funding. Ueda emphasized that any hike would be measured in an accommodative manner, not as a sharp break. He added that Japanese policy has revived a system where both wages and prices can rise moderately.

Global Markets React as Yen Carry Trade Nears End

The possible unwinding of the yen carry trade marks a significant change for global finance. For 30 years, investors borrowed yen at low rates to seek higher returns elsewhere, supporting asset prices from US stocks to emerging market bonds. This provided leverage that fueled many market rallies.

As Japanese rates climb, the economics of the carry trade shift. Borrowers who locked in 1% funding with a stable yen now face repayment at 3% and a currency that has appreciated by 10%. This raises the effective borrowing cost to around 13%, making such trades far less attractive. The August 2024 flash crash previewed the turmoil that can occur when carry trade positions unwind quickly.

“For 30 years, the Yen Carry Trade subsidized global arrogance — zero rates… free leverage… fake growth… entire economies built on borrowed time and borrowed money. Now Japan has reversed the switch. Rates climbed. Yen strengthened. And the world’s favourite ATM just turned into a debt-collector.” – AlgoBoffin

The Nikkei 225 fell 1.88% as deleveraging began, and analysts warn that this could start a cycle of forced asset sales. When cheap yen financing vanishes, markets must rely on fundamental strength instead of leverage. The ripples stretch beyond Japan, impacting financial hubs like Wall Street and Shanghai that benefited from yen-driven liquidity.

Cryptocurrency markets are especially vulnerable to tighter global liquidity. Bitcoin and other digital assets respond sharply to changes in funding. Typically, risk assets absorb the first wave of volatility when liquidity dries up, potentially causing swings in crypto valuations.

These **three charts together (Japan 10Y + Silver + Bitcoin)** are telling one of the **clearest macro stories of our lifetime**.

## **1️⃣ Japan 10-Year Yield (The Beginning of the End of “Free Money”)**

For 30+ years, Japan kept interest rates near **zero**.
This created the… pic.twitter.com/JBIOu3SrwS

— ajay patel (@ajaycan) December 1, 2025

Some analysts argue that this transition exposes underlying market dynamics that have been masked by years of loose monetary policy. As liquidity tightens and rates normalize, asset prices may be judged more on intrinsic value than on cheap financing. This shift could benefit some commodities and hard assets, but challenge growth sectors that flourished with ultra-low rates.

The coming weeks are pivotal as the BOJ considers its December decision. Markets are set for tightening, but the exact pace is unknown. Whether Japan chooses gradual or sharper rate increases will shape how quickly and severely global deleveraging unfolds. The era of free Japanese money seems to be ending, ushering in a period of higher volatility and greater scrutiny of market fundamentals worldwide.

The post Yen Carry Crypto Trading Over? Japan Signals Rate Hike appeared first on BeInCrypto.

MicroStrategy Chairman Michael Saylor’s cryptic post, “What if we start adding green dots?” to his well-known Bitcoin accumulation chart, has fueled widespread speculation across crypto circles.

The signal emerges just as CEO Phong Le publicly acknowledged, for the first time, that the company may sell Bitcoin under certain stress conditions. This dual narrative could mark a turning point for the corporate world’s most aggressive Bitcoin treasury strategy.

Decoding the Green Dots Mystery

Saylor’s Sunday post on X displayed the company’s Bitcoin portfolio chart. It outlined 87 purchase events totaling 649,870 BTC, valued at $59.45 billion, with an average cost of $74,433 per Bitcoin. Orange dots mark each acquisition since August 2020, while a dashed green line shows the average purchase price.

What if we start adding green dots? pic.twitter.com/a19bD33KzD

— Michael Saylor (@saylor) November 30, 2025

The crypto community quickly interpreted the green dots as a signal for accelerated Bitcoin purchases. One analyst summarized the bullish case, noting MicroStrategy has capital, conviction, substantial net asset value, and cash flow to support continued acquisitions. However, some offered alternative theories, including the possibility of stock buybacks or asset restructuring.

This ambiguity reflects Saylor’s history of cryptic messages. Supporters view his posts as deliberate signals of strategy, while skeptics question if they are merely for engagement. Still, the timing of this signal, along with financial disclosures, points to more than mere commentary.

First Admission: Bitcoin Sales Remain an Option

In a significant shift from MicroStrategy’s “never sell” philosophy, CEO Phong Le publicly admitted the company may sell Bitcoin if certain crisis conditions arise. MicroStrategy would consider a sale only if two triggers occur: the stock trades below 1x modified Net Asset Value (mNAV) and the company cannot raise new capital through equity or debt.

People don’t realize how big this is:

1. Strategy has capital

2. conviction is unchanged

3. NAV is strong

4. cash flow supports buys

5. demand could spike

"A Saylor signal is never random."

— George (@ScrewiexD) November 30, 2025

Modified Net Asset Value measures the company’s enterprise value divided by its Bitcoin holdings. As of November 30, 2025, the mNAV was near 0.95, close to the threshold. If it drops below 0.9, MicroStrategy could be pressured to liquidate Bitcoin to meet its $750 to $800 million annual preferred share dividend obligations.

The company issued perpetual preferred stock throughout 2025 to fund Bitcoin acquisitions. According to official press releases, the 8.00% Series A Perpetual Strike Preferred Stock requires quarterly dividends starting on March 31, 2025. These ongoing obligations add new liquidity pressure, especially as equity markets become less receptive to new issuances.

This policy change introduces a measurable risk threshold. Analysts now consider MicroStrategy much like a leveraged Bitcoin ETF: benefiting from appreciation in bull markets, but exposed to amplified risks when liquidity tightens.

Bitcoin Price Movement and Strategic Implications

Bitcoin’s recent price movement adds essential context to both Saylor’s message and Le’s admission.

MicroStrategy’s portfolio showed a 22.91% gain ($11.08 billion) as of November 30, 2025, bringing its valuation to $59.45 billion. However, its stock declined by more than 60% from recent highs, revealing a gap between Bitcoin gains and shareholder returns. This gap impacts the mNAV calculation and raises questions about the strategy’s sustainability.

green dots = more btc acquisitions. microstrategy proved treasury strategy works in bull markets. real test is holding through -80% drawdowns without forced liquidation. conviction has a price denominated in shareholder patience

— João Alcantara (@joaonalcantara) November 30, 2025

Some community members acknowledge this tension. One observer commented on X that green dots may suggest more Bitcoin acquisitions, but the key issue is whether MicroStrategy can hold through deep drawdowns without forced liquidation. This underscores the strategy’s challenge: strong in bull markets but unproven in downturns.

According to the company’s third-quarter 2025 financial results, it held roughly 640,808 bitcoins as of October 26, 2025, with an original cost basis of $47.4 billion. The subsequent growth to 649,870 BTC by November 30 highlights ongoing accumulation despite volatility.

The post What Do Saylor’s Green Dots Mean? Secret Trigger? appeared first on BeInCrypto.

A powerful and unusual wave of global capital is rushing into US markets. Foreign investors are buying American equities at a record pace, Treasury demand is reshuffling at a structural level, and domestic inflows are accelerating into year-end.

At the same time, US consumer debt has hit its highest level in history. For crypto and equity investors, the scale and direction of these flows signal a major shift in risk appetite and global macro positioning.

Foreign Investors Drive Record Equity Buying Amid Historic Realignment in Treasury Ownership

Private investors outside the US purchased $646.8 billion in US equities in the 12 months ending September 2025, according to data cited by Yardeni Research.

JUST IN: 🇺🇸 Private investors outside U.S. purchased record $646.8 billion of U.S. equities in the 12 months ending in September 2025 – Yardeni Research. pic.twitter.com/9dPxGJoS3g

— Whale Insider (@WhaleInsider) November 30, 2025

This marks the highest level on record, surpassing the 2021 peak by 66%, with flows doubling since January.

The buying is not limited to US equities. Foreign private-investor purchases of US Treasuries totalled $492.7 billion in the same period. Rolling 12-month non-US buying of Treasuries has remained above $400 billion for four consecutive years, reflecting persistent global demand for dollar-denominated safety.

“Everyone wants US assets,” analysts at the Kobeissi Letter remarked.

The composition of foreign Treasury holders is shifting in ways not seen in decades:

• China’s share of foreign Treasury holdings has fallen to 7.6%, the lowest in 23 years, and down 20% over 14 years.
• The UK’s share has quadrupled to 9.4%, near its highest level on record.
• Japan, still the largest foreign holder, now accounts for 12.9%, down 26 points over the last 21 years.

These shifts suggest a long-term repositioning of sovereign and private capital, a trend with direct implications for interest rates, liquidity, and market volatility.

Something unusual is happening in the US Treasury market:

China’s Treasury holdings as a % of all foreign holdings is down to 7.6%, the lowest in 23 years.

This percentage has declined -20 points over the last 14 years.

As a result, China now ranks as the world’s 3rd-largest… pic.twitter.com/JWJ4bbhbsy

— The Kobeissi Letter (@KobeissiLetter) November 29, 2025

Domestic Investors Also Going Risk-On, But Record Consumer Debt Adds Complexity

US investors have poured an extraordinary $900 billion into equity funds since November 2024, according to JPMorgan data, with half of that total, $450 billion, arriving in just the last five months.

Fixed-income funds added another $400 billion, while all other asset classes combined attracted only $100 billion.

Inflows into US equities have exceeded those into all other asset classes combined, reinforcing the strength of the bid for US risk assets.

While institutional and foreign investors are ramping up their exposure, US households are under growing financial pressure. Total US credit-card debt climbed to $1.233 trillion in Q3 2025, the highest level ever recorded.

JUST IN: 🇺🇸 Total U.S. credit-card debt reaches $1.233 trillion in third quarter of 2025, highest amount since tracking began. pic.twitter.com/sFi2cMhZTg

— Whale Insider (@WhaleInsider) November 30, 2025

This divergence between market optimism and consumer strain raises questions about sustainability, earnings resilience, and the timing of potential policy shifts.

Seasonality and Bullish Projections Lift Sentiment

JP Morgan expects the S&P 500 to reach 8,000 next year, a view reinforced by powerful seasonal tailwinds. This projection comes as markets anticipate the bank’s “everything rally” forecast shared just over a week ago.

S&P 500 could hit 8,000 next year says JP Morgan 🥳📈🤑🫂 pic.twitter.com/l8zYgPAtWS

— Barchart (@Barchart) November 29, 2025

December has historically been the strongest month for US stocks, with the S&P 500 rising 73% of the time since 1928 and delivering an average return of +1.28%.

For both crypto and equity markets, the surge in capital flows toward the US signals rising confidence in American assets, or a lack of attractive alternatives abroad.

Investors will watch to see whether these inflows accelerate in 2026, how Treasury demand shifts as global holdings rebalance, and whether record consumer debt becomes a drag on macroeconomic momentum.

With liquidity building and seasonality strengthening, both traditional markets and digital assets are entering a potentially decisive phase.

The post Foreign Investors Set Record With $646.8 Billion in US Stock Purchases Amid Shifting Global Capital Flows appeared first on BeInCrypto.

MicroStrategy CEO Phong Le has, for the first time, acknowledged that the company could sell its 649,870 BTC holdings under specific crisis conditions.

This marks a significant shift from Chairman Michael Saylor’s long-standing “never sell” philosophy and signals a new chapter for the world’s largest corporate Bitcoin holder.

CEO Phong Le Reveals Hidden Kill-Switch in MicroStrategy’s Bitcoin Strategy

MicroStrategy has confirmed a scenario almost no one thought possible: the potential to sell Bitcoin, its core treasury asset. Speaking on What Bitcoin Did, CEO Phong Le outlined the precise trigger that would force a Bitcoin sale:

• First, the company’s stock must trade below 1x mNAV, meaning the market capitalization falls below the value of its Bitcoin holdings.
• Second, MicroStrategy must be unable to raise new capital through equity or debt issuance. This would mean capital markets are closed or too expensive to access.

JUST IN: Strategy CEO Phong Le says $BTC would only be sold if the company’s stock falls below net asset value and funding options disappear, calling it a financial decision. pic.twitter.com/YpgEIeF3qe

— Whale Insider (@WhaleInsider) November 30, 2025

Le clarified that the board has not planned near-term sales, but confirmed that this option “is in the toolkit” if financial conditions deteriorate.

This is the first explicit acknowledgement, after years of Michael Saylor’s absolutist claim that “we will never sell Bitcoin.” It shows that MicroStrategy does, in fact, have a kill-switch tied directly to liquidity pressure.

Why the 1x mNAV Threshold Matters

mNAV compares MicroStrategy’s market value to the value of its Bitcoin holdings. When mNAV drops below 1, the company becomes worth less than the Bitcoin it owns.

Several analysts, including AB Kuai Dong and Larry Lanzilli, note that the company is now facing a new constraint. The mNAV premium that powered its Bitcoin-accumulation flywheel has nearly vanished for the first time since early 2024.

As of November 30, mNAV hovers near 0.95x, edging uncomfortably close to the 0.9x “danger zone.”

If mNAV falls below 0.9x, MicroStrategy could be pushed toward BTC-funded dividend obligations. Under extreme conditions the firm would be compelled to sell portions of its treasury to maintain shareholder value.

🧵 MicroStrategy CEO Phong Le just confirmed on What Bitcoin Did (Nov 29, 2025):

😯 “If MSTR stock trades <1x mNAV AND we can’t raise fresh capital → we would sell portions of our #Bitcoin as a last-resort move.”

🤔 He called it “mathematically justified” to protect Bitcoin…

— Larry Lanzilli (@lanzilli) November 30, 2025

The pressure stems from $750–$800 million in annual preferred share dividend payments, issued during MicroStrategy’s Bitcoin expansion.

Previously, the company used new equity issuances to cover these costs. With the stock down more than 60% from its highs and market skepticism rising, that avenue is narrowing.

Analysts Warn of a Structural Shift

According to Astryx Research, MicroStrategy has effectively transformed into a “leveraged Bitcoin ETF with a software company attached.” That structure works when BTC rises, but amplifies stress when liquidity tightens or volatility spikes.

Michael Saylor’s Bitcoin Strategy: Genius or Hidden Risk?@saylor and MicroStrategy have done something no public company in history has ever done:

They turned their balance sheet into a leveraged Bitcoin ETF with a software company attached — and it has paid off massively.… pic.twitter.com/KfAMJYWB7y

— Astryx Research (@AstryxHQ) November 30, 2025

SEC filings have long warned about liquidity risk during a deep Bitcoin drawdown. While the firm maintains that it faces no forced liquidation risk due to its convertible debt structure, the CEO’s latest comments confirm a mathematically defined trigger for voluntary sales.

If $BTC drops to our $74K average cost basis, we still have 5.9x assets to convertible debt, which we refer to as the BTC Rating of our debt. At $25K BTC, it would be 2.0x.

— Strategy (@Strategy) November 25, 2025

Why This Matters for Bitcoin Investors

MicroStrategy is the largest corporate BTC holder in the world. Its “HODL forever” stance has been a symbolic pillar of the institutional Bitcoin thesis. Acknowledging a sell condition, even if distant, shifts that narrative toward realism:

• Liquidity can override ideology.
• Market structure matters as much as conviction.
• The Bitcoin cycle now has a new, and measurable, risk threshold: the 0.9x mNAV line.

Investors will watch Monday’s updates closely as analysts track whether mNAV stabilizes or continues slipping toward 0.9x.

Any further weakness in BTC or MSTR stock could intensify scrutiny of MicroStrategy’s balance sheet strategy heading into 2026.

The post MicroStrategy Admits a Bitcoin Sale Is Possible—Here’s When appeared first on BeInCrypto.

A South Korean expert has suggested that the recent Upbit breach may have originated from a high-level mathematical exploit targeting flaws in the exchange’s signature or random-number generation system.

Rather than a conventional wallet compromise, the attack appears to have leveraged subtle nonce-bias patterns embedded in millions of Solana transactions—an approach requiring advanced cryptographic expertise and significant computational resources.

Technical Analysis of the Breach

On Friday, Upbit operator Dunamu’s CEO Kyoungsuk Oh issued a public apology regarding the Upbit incident, acknowledging that the company had discovered a security flaw that allowed an attacker to infer private keys by analyzing a large number of Upbit wallet transactions exposed on the blockchain. His statement, however, raised immediate questions about how private keys could be stolen through transaction data.

The next day, Professor Jaewoo Cho of Hansung University provided insight into the breach, linking it to biased or predictable nonces within Upbit’s internal signing system. Rather than typical ECDSA nonce-reuse flaws, this method exploited subtle statistical patterns in the platform’s cryptography. Cho explained that attackers could examine millions of leaked signatures, infer bias patterns, and ultimately recover private keys.

This perspective aligns with recent studies showing that affinely related ECDSA nonces create a significant risk. A 2025 study on arXiv demonstrated that just two signatures with such related nonces can expose private keys. As a result, private key extraction becomes far easier for attackers who can gather large datasets from exchanges.

The level of technical sophistication suggests an organized group with advanced cryptographic skills conducted this exploit. According to Cho, identifying minimal bias across millions of signatures requires not only mathematical expertise but also extensive computational resources.

In response to the incident, Upbit moved all remaining assets to secure cold wallets and halted digital asset deposits and withdrawals. The exchange has also pledged to restore any losses from its reserves, ensuring immediate damage control.

Extent and Security Implications

Evidence from a Korean researcher indicates that hackers gained access not only to the exchange’s hot wallet but also to individual deposit wallets. This may point to the compromise of sweep-authority keys—or even the private keys themselves—signaling a grave security breach.

Another researcher points out that, if private keys were exposed, Upbit could be forced to comprehensively overhaul its security systems, including its hardware security modules (HSM), multi-party computation (MPC), and wallet structures. This scenario raises questions about internal controls, indicating possible insider involvement and placing Upbit’s reputation at risk. The extent of the attack highlights the need for robust security protocols and strict access controls across major exchanges.

The incident illustrates that even highly engineered systems can conceal mathematical weaknesses. Effective nonce generation must ensure randomness and unpredictability. Detectable bias creates vulnerabilities that attackers can exploit. Organized attackers are increasingly capable of identifying and leveraging these flaws.

Research into ECDSA safeguards stresses that faulty randomness in nonce creation can leak key information. The Upbit case shows how theoretical vulnerabilities can translate into major real-world losses when attackers have the expertise and motivation to exploit them.

Timing and Industry Impact

The attack’s timing has fueled community speculation. It occurred exactly six years after a comparable Upbit breach in 2019, which was attributed to North Korean hackers. Furthermore, the hack coincided with the announcement of a major merger involving Naver Financial and Dunamu, Upbit’s parent company.

Online, some conspiracy theories about coordination or insider knowledge, while others suggest the attack could mask other motives, such as internal embezzlement. Although the clear technical evidence of a complex mathematical exploit points to a highly advanced attack by cybercriminals, critics say the pattern still mirrors longstanding concerns about Korean exchanges:

“Everyone knows these exchanges massacre retail traders by listing questionable tokens and letting them die with no liquidity,” one user wrote. Others noted, “Two overseas altcoin exchanges recently pulled the same stunt and disappeared,” while another accused the company directly: “Is this just internal embezzlement and plugging the hole with company funds?”

The 2019 Upbit case showed that North Korea-aligned entities had previously targeted major exchanges to evade sanctions through cyber theft. Although it’s unclear if the current incident involved state-sponsored actors, the advanced nature of the attack remains concerning.

The post Upbit Hack Stemmed From High-Level Mathematical Exploit, Says Local Expert appeared first on BeInCrypto.