JPMorgan has accelerated its tokenization bid for real-world assets (RWA) through the Solana (SOL) blockchain. The behemoth bank announced on Thursday that it successfully facilitated a debt issuance for Galaxy Digital Holdings on Solana. According to the announcement, JPMorgan arranged the first U.S. Commercial Paper (USCP) issuance for Galaxy Digital. The debt issuance was settled …
Bitcoin is trading in a world where headlines still scream “bull” or “bear” while the underlying structure quietly refuses to play along. After spiking to an all-time high in the $124,000–$126,000 zone in early October and then shedding roughly a third of its value into November, BTC now sits in the low-$90,000s, still dominant but clearly winded. Into that confusion steps pseudonymous renowned crypto industry veteran plur daddy (@plur_daddy) who suggests the market may be in neither regime at all. “Because of the 4 year cycle, all crypto market participants are primed to view the market as either in a bull or bear phase,” he wrote on X. “What if, as a part of the market maturing, we are simply in an extended consolidation window where overhead supply is being absorbed?” It is a simple framing shift with fairly big implications. He points to gold, which “chopped between $1,650–2,050 from April 2020 to March 2024,” and argues it is “logical to assume that as BTC evolves, it will exhibit more gold-like behaviors.” In other words: not dead, not euphoric, just… stuck in a fat, liquidity-soaked range where supply changes hands from weak to strong for longer than traders raised on clean halving cycles are emotionally prepared to tolerate. Related Reading: Standard Chartered Cuts 2026 Bitcoin Price Prediction By 50% The range dynamics are already visible at the top end. According to plur, “sellers emerged aggressively whenever price entered the $120k range.” He notes there are “strong arguments” those sellers were driven by the four-year cycle meme, but “equally good arguments” they were reacting to more prosaic considerations: age, price, liquidity, thesis change, and “emerging tail risks.” If BTC revisits that zone, he thinks it is “rational for people to front run that, which helps reinforce the range.” Classic reflexivity: people remembering the last top create the next one. On the downside, he is not in the doom camp. “This also dovetails with my intuitive feeling that the lows may be in, or at the least not significantly lower than what we have seen, but upside also being capped,” he wrote, adding that liquidity conditions are “poised to moderately improve,” creating room for a bounce – just not necessarily a new regime. Or as he put it with some restraint, he’d “be cautious about betting on regime change.” Bitcoin Market Puzzled: QE Or Not QE? That “moderate improvement” is not theoretical. Yesterday’s FOMC meeting delivered a 25-basis-point rate cut, taking the Fed funds target to 3.50–3.75%, alongside a surprise announcement: roughly $40 billion a month in “reserve management purchases” (RMPs) of short-dated Treasuries, starting December 12 and guided to remain elevated for several months. The official line is that this is a technical step to keep reserves “ample” and repo markets functioning, not a new round of QE. Macro voices on X are, unsurprisingly, not unified on that distinction. Plur Daddy added via X: “This is different from QE because the main way that QE works is through pulling duration out of the market, forcing market participants to move up the risk curve. However, they snuck in there that they may buy up to 3 year treasury notes, which means some duration will be getting taken out. This is more bullish than expected, and helps bridge market liquidity into the new year.” Miad Kasravi (@ZFXtrading) insists, “FED is NOT doing QE. Just expanding balance sheet via Money-market displacement,” arguing that when the Fed buys bills, the prior holder gets cash that “has to go somewhere” and “some of it seeps into credit, equities, crypto.” Related Reading: Wall Street Giant Bernstein Predicts Bitcoin Price To Hit $1 Million By 2033 LondonCryptoClub takes the gloves off. In his view, the Fed is “basically going to print money to keep funding this deficit for as long and as large as needed,” adding that “the debasement trade is on autopilot mode.” He backs Lyn Alden’s earlier remark that “it’s money printing. Whether it’s QE or not is more semantics. Fed won’t call it QE since it’s not duration and it’s not for economic stimulus.” Lyn Alden nails it Markets are going to tie themselves up arguing over the semantics and overcomplicating it Yet they’re printing money and monetising the deficit It’s all the same thing. Admittedly, this is QE-lite…for now at least Believe it or not, market participants… https://t.co/cf7QLogWom — LondonCryptoClub (@LDNCryptoClub) December 10, 2025 Peter Schiff, predictably but not entirely irrationally, commented via X: “QE by any other name is still inflation. The Fed just announced it will be buying T-bills “on an ongoing basis.” Given that long-term rates will rise on this inflationary policy shift, it won’t be long before the Fed expands and extends QE5 to longer-dated maturities. Got gold?” So The Takeaway Is? As Plur notes, these operations expand bank reserves and ease repo stress; the Fed will primarily buy T-bills, but “they may buy up to 3 year treasury notes, which means some duration will be getting taken out.” That edges the program closer to “QE-lite” than pure plumbing. It is supportive for risk assets and it arrives precisely during the year-end liquidity doldrums, with further balance-sheet expansion mechanisms waiting in the wings. For Bitcoin, the uncomfortable answer right now is that both things can be true: the “debasement trade” is structurally alive, while price action behaves like a large, semi-institutional asset digesting a brutal rally and a fresh macro shock. Another six to eighteen months of rangebound churn, as plur suggests, “wouldn’t be strange at all.” Whether you label that bull, bear, or just purgatory is mostly a narrative choice. Markets, frankly, will trade it the same either way. At press time, BTC traded at $90,060. Featured image created with DALL.E, chart from TradingView.com
The partnership gives Sei direct mobile distribution across key crypto markets and includes plans to pilot stablecoin payments in 2026.
Spot ETH ETF inflows resumed, while demand for taker volume improved. Will Ether’s futures markets follow the trend and kickstart a rally toward new all-time highs?
The tokenized commercial bond is one of the earliest transactions of its kind in the budding sector of onchain debt and credit instruments.
The CFTC withdraws outdated crypto delivery guidance to support digital asset reform and streamline regulations for evolving markets.
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Coinbase tapped Chainlink services for $7 billion bridge, but broader crypto weakness weighed on price.
The CFTC is withdrawing "outdated and overly complex guidance," related to delivery of digital assets, according to acting Chair Pham.
XRP ETF inflows have continued for 19 straight days, signaling ongoing investor interest since US XRP-focused ETFs launched.
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Do Kwon faces sentencing in U.S. federal court on Dec. 11, 2025. Prosecutors sought a 12-year term and the defense asked for no more than five, with Judge Paul A. Engelmayer presiding and South Korea charges still pending. The proceeding follows a June 2024 final judgment in the SEC’s civil case that imposed about $4.47 […]
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In what are likely her final days at the agency, the acting chairman checked another box from President Donald Trump's crypto agenda.
The updated protocol, x402 V2, allows developers to combine payments, enable secure wallet access, and add new features via a clean, modular design.
District Judge Paul Engelmeyer offered the Terraform Labs co-founder the chance to postpone his sentencing date, in light of hundreds of victim impact statements shared with the court in the past 24 hours.
Ethereum (ETH) price has gradually signaled bullish sentiment in the last few days. As the fear of further crypto capitulation subsided in the recent past, the large-cap altcoin, with a fully diluted valuation of about $388 billion at press time, has recorded three consecutive weekly green candlesticks. What’s Next for Ethereum Price? Following the gradual …
The latest analysis circulating is that the Canadian fintech analysts are becoming increasingly bullish on XRP, pointing to a surge in real-world utility that could reshape the digital payments landscape. The financial institutions have continued to adopt blockchain-based settlement systems. This growing utility has led several Canadian researchers to issue an explosive new forecast. How XRP’s Real-world Utility Is Expanding Faster Than Market Valuations Canada’s fintech landscape is shifting, and XRP is rapidly emerging as one of its most influential digital assets. According to a video shared by crypto analyst Skipper_xrp, a Canadian news article highlighted that XRP could become the most compelling fintech play in the entire crypto sector and that it could reach as high as $2,000 by 2027. Related Reading: XRP Price About $1,000 Is A Necessity, Analyst Claims It is worth noting that XRP is no longer just a speculative asset in Canada. It’s now being viewed by Canadian analysts and market observers as a tangible fintech tool powering real change in cross-border payment, with a clear path to becoming a cornerstone of modern finance by 2027. The article also predicts that XRP could become the strongest fintech play in crypto. Skipper_xrp added that RACO, which is known as the beloved raccoon-themed token, has quickly become one of the most talked-about projects and is making a splash on the XRP Ledger. While RACO is gaining traction as more users adopt it for transactions, it is emerging as a standout choice within the XRPL ecosystem. Furthermore, the RACO tokens are now officially available for community members to get early access and be part of the project’s growth. Why The Financial Institutions Can Now Offer XRP Access With Confidence In a major regulatory breakthrough of the Ripple Ledger, analyst Skipper_xrp has also stated that the US Office of the Comptroller of the Currency (OCC) has confirmed that the national banks are now legally permitted to conduct riskless principal transactions in crypto-assets. This riskless principal activity will open the door for the token to be used in these regulated operations and give banks a compliant way to facilitate XRP-based trades and payments. Related Reading: Here’s Why XRP Positions Itself As Treasury-Grade Rail For Institutions Moving Trillions Furthermore, with the OCC’s confirmation, US national banks can now act as intermediaries for XRP transactions in a fully regulated manner without taking any market risk. This makes it easier for institutional and retail clients to access and use XRP through trusted, regulated financial institutions. According to Skipper_xrp, this ruling provides regulatory clarity and gives XRP a competitive edge in the US market, making it the perfect asset for banks to integrate into their service offerings. Such a move could power increased adoption and liquidity for the asset. Featured image from Adobe Stock, chart from Tradingview.com
In the prolonged process of the Senate, two key officials have faced a series of procedural steps on their way to a final vote, possibly early next week.
Caliber's LINK staking could enhance Chainlink's infrastructure, potentially boosting network reliability and shareholder returns.
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JPMorgan created the Solana-based USCP token to facilitate sales of short-term corporate debt, beginning with Galaxy.
Ava Labs President John Wu and Skybridge founder Anthony Scaramucci discuss the Clarity Act and further institutional adoption of crypto.
Galaxy’s onchain debt deal, where JP Morgan acted as arranger, was settled in USDC stablecoin and backed by Coinbase and Franklin Templeton.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Senators could vote on Michael Selig's nomination to head the CFTC, which, if successful, is expected to lead to the departure of acting Chair Caroline Pham.
XRP is going through the week under a renewed wave of speculation as two separate developments, a MoonPay purchase that revived a long-running community meme and the Cboe approval of a new spot ETF, pushed the token back into the spotlight. Related Reading: More Eurozone Countries Will Buy Bitcoin, Says Coinbase’s Institutional Chief Together, these events have fueled debate about whether XRP is on the cusp of new institutional momentum or simply caught in another cycle of community-driven enthusiasm. XRP's price trends to the downside on the daily chart. Source: XRPUSD on Tradingview Community Signals Collide With Market Memes A routine Apple Pay purchase posted by MoonPay, showing a buy of exactly 589 XRP, triggered renewed excitement across XRP circles. The figure “589” has carried symbolic weight since 2018, when an anonymous user promoted the number as a future price target. Its reappearance, coming shortly after the Solana Foundation also posted “589” without context, set off widespread speculation about potential hidden messaging or coordinated marketing. The resurgence of the meme also comes amid new discussions around XRP’s long-term value. Several analysts, including the anonymous educator X Finance Bull, argue that the shift toward tokenized financial markets could significantly increase demand for XRPL-based settlement. SEC Chair Paul Atkins recently reinforced the idea that U.S. markets will move fully on-chain within a few years, a statement that many in the XRP community interpreted as validation of XRPL’s positioning in enterprise-grade infrastructure. Still, XRP’s price action remains under pressure. After a Federal Reserve rate cut accompanied by a hawkish outlook, ETF inflows slowed sharply, and XRP slipped below key moving averages, trading near the critical $2 support zone. Cboe Clears XRP’s Next ETF, And Institutional Interest Builds While community narratives dominated social media, regulatory progress offered a more tangible catalyst. The Cboe BZX Exchange approved the listing of the 21Shares XRP ETF (TOXR), moving it closer to launch. The fund carries a 0.3% fee, uses a multi-custodian security model, and has been seeded with 100 million XRP, roughly $226 million, from Ripple Markets. The approval comes as XRP-focused ETFs gain traction in the U.S., with at least four funds now active and inflows exceeding $900 million in recent weeks. Analysts note that institutional engagement has grown since regulators formally recognized that secondary-market XRP transactions do not constitute securities trades. Momentum around the ETF space intensified further after FalconX acquired 21Shares, giving the issuer expanded access to institutional distribution, market-making, and liquidity infrastructure. Market observers say the merger could accelerate capital inflows if TOXR begins trading in the coming days. Analysts Split on Outlook as XRP Holds Key Levels Despite the renewed attention, analysts remain divided. EGRAG Crypto maintains a bullish long-term view, citing consolidation patterns reminiscent of XRP’s previous accumulation phases. Others caution that expectations, particularly around community-driven targets, remain far ahead of current fundamentals. Broader adoption through RippleNet, expanding partnerships, and growing interest in XRP-based products such as ETFs and stablecoins continue to strengthen XRP’s institutional narrative. Still, macro uncertainty, legislative delays in the U.S., and competition in the digital-asset payments space present ongoing challenges. Related Reading: Forget Bitcoin’s Old Cycle—A New Institutional Era Has Begun: Cathie Wood As both cultural and regulatory forces converge, XRP finds itself influenced by two very different engines, market infrastructure gradually opening new pathways for institutional capital, and a community whose symbolic narratives continue to shape sentiment. Cover image from ChatGPT, XRPUSD chart from Tradingview
dYdX launched Solana spot trading and opened access to U.S. users, offering zero fees in December as it expands beyond derivatives.
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J.P. Morgan enables commercial paper tokenization on Solana using Coinbase's platform, streamlining US debt issuance with blockchain.
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Bitcoin price breakouts continue to be rejected at $94,000, even as traders’ long-term view of US monetary policy and the crypto market turns bullish.
OpenAI launched GPT 5.2 with Instant Thinking and Pro models delivering major gains in reasoning and professional workflows.
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The Bank of Mexico's new stability report flags liquidity, contagion and regulatory-arbitrage risks as crypto adoption accelerates in Latin America.
The exchange is adding new USD1 trading pairs and replaces BUSD collateral with the token.
More Bitcoin now sits outside exchanges, and courts cannot move those coins without keys. That custody shift is colliding with family law. Exchange balances hover near multi-year lows at roughly 14–15% of circulating supply, about 2.7–2.8 million BTC. The rest sits with institutions in vaulted custody or in personal wallets where a 12–24 word seed […]
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