BlackRock is the largest asset manager in the world, with over $13.4 trillion in assets under management, and operates the largest tokenized cash market fund, worth $2.8 billion.

A bill clarifying that property laws apply to crypto was given royal assent in the UK, with advocates hailing the move as giving crypto “a much clearer legal footing.”

This partnership could accelerate institutional adoption of crypto by aligning staking services with traditional finance standards and security.

The post Deutsche Bank-backed Taurus partners with Everstake to enhance institutional crypto staking appeared first on Crypto Briefing.

Tokenization's potential to revolutionize financial systems could reshape market dynamics and investment strategies, impacting global asset management.

The post BlackRock CEO Larry Fink, Brian Armstrong to discuss tokenization at DealBook Summit appeared first on Crypto Briefing.

Arthur Hayes, the BitMEX co-founder, warned late last month that Tether’s shift into Bitcoin and gold could leave the stablecoin exposed if those assets tumble.

According to Hayes, a roughly 30% drop in Tether’s BTC and gold holdings could erase the company’s equity and leave USDT vulnerable.

His comments touched off fresh debate about how much of the company’s true financial strength is visible to the market.

The Tether folks are in the early innings of running a massive interest rate trade. How I read this audit is they think the Fed will cut rates which crushes their interest income. In response, they are buying gold and $BTC that should in theory moon as the price of money falls.… pic.twitter.com/ZGhQRP4SVF

— Arthur Hayes (@CryptoHayes) November 29, 2025

Tether Is Far Stronger Than It Looks: Former Citi Analyst

A former Citi research lead, who goes by the name “Joseph”, pushed back on Hayes’s scenario. Based on reports, Joseph said public attestations only show the assets that directly back outstanding USDT and do not capture the full corporate balance sheet.

I spent 100’s of hours writing research on tether for @Citi. @CryptoHayes missed a few key points.

1) 𝐓𝐡𝐞𝐢𝐫 𝐝𝐢𝐬𝐜𝐥𝐨𝐬𝐞𝐝 𝐚𝐬𝐬𝐞𝐭𝐬 =/ 𝐚𝐥𝐥 𝐜𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐚𝐬𝐬𝐞𝐭𝐬

When tether generates $ they have a separate equity balance sheet which they don’t… https://t.co/pHSRr245Up

— Joseph (@JosephA140) November 30, 2025

He told reporters he spent hundreds of hours reviewing filings and market data and estimates Tether’s total equity could be in the $50–$100 billion range — a cushion much larger than what critics point to when they focus on attested reserves.

Reported Buffers

According to Joseph’s calculations, Tether holds about $120 billion in US Treasuries that are earning roughly 4%, which he says could generate about $10 billion a year in net income.

He also cited other corporate assets that are not part of public reserve snapshots — equity stakes, mining operations, and additional Bitcoin holdings — all of which, he argues, strengthen Tether’s overall capital position.

Paolo Ardoino, Tether’s CEO, has publicly cited roughly $30 billion in “group equity” as part of the firm’s buffer against shocks.

re: Tether FUD

From latest attestation announcement (Q3 2025):

“Tether will continue to maintain a multi-billion-dollar excess reserve buffer and an overall proprietary Group equity approaching $30 billion.”

Tether had (at end of Q3 2025) ~7B in excess equity (on top of the…

— Paolo Ardoino (@paoloardoino) November 30, 2025

Hayes’s point, however, rests on a simple math worry: volatile assets can move fast, and marked declines would reduce the value of reserves.

He framed Tether’s move into Bitcoin and gold as a macro hedge against expected rate cuts, but said that hedge could backfire under a sharp sell-off.

Reports have noted that because attestations focus on backing for USDT supply, they may not reveal how much of the company’s other assets would be available in a crisis — a gap that keeps some investors uneasy.

The clash highlights two facts. One: there are sizable numbers involved — $120 billion in Treasuries, a roughly $30 billion equity figure cited by management, and the $50–$100 billion range estimated by Joseph.

Two: the core issue is disclosure. If Tether’s broader holdings can be marshalled quickly in a stress event, the company may handle big swings. If not, volatility could create trouble for short-term liquidity even if long-term equity is large.

Featured image from Pexels, chart from TradingView

The U.S. Federal Deposit Insurance Corporation (FDIC) is preparing to publish its first formal proposal outlining how stablecoin issuers will operate under the GENIUS Act, according to acting chairman Travis Hill.

The rulemaking package is expected to be submitted to the House Financial Services Committee before the end of December, marking a major step toward implementing the country’s new federal stablecoin framework.

FDIC Nears First Draft of GENIUS Act Stablecoin Rules

The Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act), signed into law in July, created a multi-agency oversight system for payment stablecoins.

Under the law, only licensed issuers are allowed to offer stablecoins to U.S. users, with oversight divided between the FDIC, Federal Reserve, Treasury, and other regulators.

Hill said the FDIC has been developing application procedures and prudential standards that will apply to stablecoin-issuing subsidiaries of FDIC-supervised institutions.

These standards include capital requirements, liquidity expectations, and reserve asset diversification rules designed to ensure issuers can meet redemptions during periods of stress.

The agency also expects to release a separate proposal early next year detailing the financial and operational requirements stablecoin issuers must meet once approved.

Regulators Outline Broader Digital-Asset Responsibilities

Hill noted that the FDIC has taken a cautious but constructive approach toward banks exploring digital-asset services, ensuring activities remain “safe and sound.” Part of the agency’s ongoing work includes responding to recommendations from the President’s Working Group on Digital Asset Markets.

One area receiving particular attention is tokenized deposits, digital representations of bank deposits issued on blockchain networks. Hill confirmed that new guidance is being drafted to clarify how these instruments fit within existing banking rules, reflecting growing industry interest in tokenization for payments and settlement.

Other regulators are advancing their own responsibilities under the GENIUS Act. Federal Reserve Vice Chair for Supervision Michelle Bowman stated that the central bank is collaborating with banking agencies to establish capital, liquidity, and diversification standards for stablecoin issuers.

The U.S. Department of the Treasury has also played a central role in implementing the GENIUS Act.

In September, it released an Advance Notice of Proposed Rulemaking (ANPRM) seeking public feedback on its stablecoin oversight approach. The comment period, which ran through early November, invited input from industry participants, academics, and consumer groups.

The Treasury stated that the consultation aims to strike a balance between innovation and financial stability concerns. Public submissions will help build the final proposals, which will govern non-bank stablecoin issuers and related digital asset activities.

Related Reading: Crypto Crackdown: House GOP Discovers 30 Firms Debanked In Operation Chokepoint 2.0

With the FDIC’s first proposal now nearing completion, federal agencies are entering the next phase of what is expected to be a multi-month rulemaking process. Once draft rules are released, they will undergo public review before final guidelines are adopted and phased in across the stablecoin market.

Cover image from ChatGPT, BTCUSD chart from Tradingview

Bitcoin was launched fifteen years ago. The industry has ballooned into a nearly $4 trillion ecosystem, yet Satoshi’s vision of everyday payments remains largely unfulfilled. The hope for peer-to-peer payments has shifted to stablecoins. But rather than replacing banks, stablecoins risk becoming bank-like infrastructure. Stronger regulation in the U.S. and Europe may push them toward centralized rails rather than open money.

Regulation turning stablecoins into regulated payment networks

In America, the GENIUS Act established a federal framework for payments with stablecoins—who can issue them, how to back them up, and how they’re regulated. In Europe, MiCA regulation (Markets in Crypto-Assets) became applicable in 2024 and set strict requirements for stablecoins under categories like “e-money tokens” and “asset-referenced tokens.”

These regulations foster legitimacy and safety, but at the same time push stablecoin issuers into the world of banks. When issuers need to comply with reserve, audit, KYC, and redemption requirements, the structure and essence of stablecoins shift. They become centralized gateways rather than peer-to-peer money. Over 60% of corporate stablecoin usage is cross-border settlement, not consumer payments. Stablecoins are becoming more institutional tools and fewer tokens for individuals.

The danger: becoming the next SWIFT

What does it mean to “become the next SWIFT”? It means evolving into the go-to rail for institutions; efficient yet opaque, centralized yet indispensable. SWIFT transformed global banking by enabling messaging between banks; it did not democratize banking access. If stablecoins mirror that evolution, they’ll deliver faster rails for existing players rather than empowering the unbanked.

Crypto’s promise was programmable money—cash that moves with logic, autonomy, and user control. But when transactions require issuer permission, compliance tagging, and monitored addresses, the architecture changes. The network becomes compliant infrastructure, not money. That subtle but profound shift may make stablecoins less radical and more reactionary.

A better path to open rails with compliance baked in

The challenge is not regulation; it’s design. To uphold the promise of stablecoins while adhering to regulatory demands, developers and policymakers should embed compliance in the protocol layer, maintain composability across jurisdictions, and preserve non-custodial access. Back in the real world, initiatives like the Blockchain Payments Consortium provide a glimpse of hope that standardizing cross-chain payments is possible without sacrificing openness.

Stablecoins must work for individuals, not just institutions. If they serve only large players and regulated flows, they won’t disrupt—they’ll conform. The design must allow true peer-to-peer movement, selective privacy, and interoperability. Otherwise, the rails will lock us into old hierarchies, just faster.

Stablecoins still hold the potential to rewrite money. But if we allow them to become institutionalized rails built for banks rather than people, we will have replaced one central system with another. The question isn’t whether we regulate—stablecoins will be regulated. It’s whether we design for inclusion and autonomy, or lock in yesterday’s system behind digital wrappers. The future of money depends on which path we choose.

The following is a guest post and opinion from Joël Valenzuela, Director of Marketing and Business Development at Dash.

The post Stablecoins were built to replace banks but on course to becoming one appeared first on CryptoSlate.

XRP spot ETFs have posted one of the most consistent inflow streaks of this quarter, attracting roughly $756 million across eleven consecutive trading sessions since their Nov. 13 launch.

Yet the strength in the ETF demand contrasts with XRP’s price performance.

According to CryptoSlate’s data, the token has fallen about 20% over the same period and currently trades near $2.03.

This divergence has prompted CryptoSlate to examine how XRP’s ownership structure is shifting beneath the surface.

The strong ETF inflows alongside falling prices point to a market absorbing two opposing forces of steady institutional allocation on one side and a broader risk reduction on the other.

Essentially, this pattern reflects a more complex process in which new, regulated demand is entering the ecosystem as existing holders adjust their exposure.

XRP dominates crypto ETFs flow

The inflow profile of XRP products is statistically remarkable, particularly against a backdrop of net redemptions elsewhere.

During the reporting period, Bitcoin ETFs saw over $2 billion in outflows, and Ethereum products recorded nearly $1 billion in withdrawals.

Even high-flying competitors like Solana have managed only about $200 million in cumulative inflows. At the same time, other altcoin ETFs have drawn smaller totals, with Dogecoin, Litecoin, and Hedera products each holding between $2 million and $10 million.

In this context, XRP stands alone for its consistent accumulation, with the four products now holding about 0.6% of the token’s total market capitalization.

Considering this, market participants attribute the demand to the ETF’s operational efficiency. The four XRP funds offer institutional allocators a compliant, low-friction path into the asset, bypassing the custody headaches and exchange risks associated with direct token handling.

However, the fact that these inflows have not translated into upward price pressure suggests that other market segments may be reducing exposure or managing risk amid elevated macro and crypto-specific uncertainty.

This phenomenon is not unprecedented in crypto, but the scale here is distinct.

The selling pressure is likely originating from a combination of early adopters cashing out after years of volatility and potential treasury movements. The ETF boom has essentially created a liquidity bridge, allowing large-scale entities to offload positions without crashing the order book instantly.

Consolidation or centralization risk?

Meanwhile, the ownership data below the surface reinforces the view that the asset is undergoing a radical centralization.

Data from blockchain analysis firm Santiment indicates that the number of “whale” and “shark” wallets holding at least 100 million XRP has plummeted by 20.6% over the past eight weeks.

This pattern of fewer large wallets with more combined assets can be interpreted in different ways.

Some market observers have framed this as “consolidation,” arguing that supply is moving into “stronger hands.”

However, a risk-adjusted view suggests rising centralization risk.

With nearly half of the available supply concentrated in a shrinking cohort of entities, the market’s liquidity profile is becoming increasingly fragile.

This centralization of supply means that future price action is heavily dependent on the decisions of fewer than a few dozen entities. If this group decides to distribute, the resulting liquidity shock could be severe.

Simultaneously, spot exchange balances are thinning as tokens move into the regulated custody solutions required by ETF issuers.

While this theoretically reduces the “float” available for retail trading, it hasn’t triggered a supply shock. Instead, the transfer from exchange to custodian appears to be a one-way street for now, soaking up circulating supply sold by the shrinking whale cohort.

The benchmark race

The inflow streak has renewed discussion about which asset could emerge as the benchmark altcoin for institutional portfolios.

Historically, regulated crypto exposure has centered almost exclusively on Bitcoin and Ethereum, with other assets attracting minimal attention. XRP’s recent flow profile, which has significantly exceeded the cumulative inflows of other altcoin ETFs, has temporarily shifted that dynamic.

Part of the interest stems from developments around Ripple. The firm’s licensing expansion in Singapore and the significant adoption of RLUSD, its dollar-backed stablecoin, give institutions a broader ecosystem to evaluate.

At the same time, Ripple’s acquisitions across custody, brokerage, and treasury management have created a vertically integrated framework that resembles components of traditional financial infrastructure, offering a foundation for regulated participation.

Still, analysts caution that a short inflow streak does not establish a new long-term benchmark.

XRP will need to sustain demand across multiple market phases to maintain its position relative to peers such as Solana, which has gained attention for its growing tokenization activity, and to assets that may attract larger flows once new ETFs launch.

For now, XRP’s performance within the ETF complex reflects early momentum rather than structural dominance.

The flows highlight genuine institutional interest, but the asset’s price behavior reflects the broader challenges large-cap cryptocurrencies face amid macroeconomic uncertainty.

The post How XRP became the top crypto ETF trade despite price slides toward $2 appeared first on CryptoSlate.

The total crypto market cap (TOTAL) recovered by nearly $200 billion over the last 24 hours. Bitcoin (BTC) also jumped from $86,400 to $92,700 in the same duration. Altcoins also followed suit with Sui (SUI) price jumping 23% over the past day.

In the news today:-

• Ethereum will roll out its Fusaka upgrade on December 3, 2025, introducing PeerDAS to significantly boost Layer 2 scalability. This is the network’s second major upgrade of the year, following the Pectra fork that previously triggered a 29% ETH rally.
• US authorities seized a scam-linked web domain tied to Burma’s Tai Chang compound in an effort to disrupt regional fraud networks. The action coincided with a sanctioned Cambodian financial group freezing withdrawals amid rising US and U.K. regulatory pressure.

The Crypto Market Bounces Back

The total crypto market cap jumped by $200 billion in the last 24 hours, reaching $3.10 trillion. TOTAL surged after the US Federal Reserve ended quantitative tightening on Tuesday. This is improving risk sentiment and driving strong inflows into major cryptocurrencies.

TOTAL is now aiming for the $3.16 trillion resistance level, which it must breach to maintain upward momentum. Securing $3.09 trillion as a stable support will be crucial for sustaining this rally and enabling further growth across the market.

Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

If volatility returns and conditions shift again, TOTAL may fall through $3.05 trillion and retrace toward $2.93 trillion or even lower. Such a move would signal weakening demand and temporarily invalidate the bullish outlook.

Bitcoin Breaches Key Barrier

Bitcoin bounced back over the last 24 hours, trading at $92,712 at the time of writing after breaking above the $91,521 barrier for the first time in nearly two weeks. This rebound signals renewed strength as market sentiment improves following days of uncertainty.

BTC will likely extend this uptrend if broader market cues remain supportive. A continued push could drive Bitcoin’s price toward $95,000. Flipping that level into support is essential for sustaining further gains and confirming a stronger recovery structure.

If bullish momentum weakens, Bitcoin’s price could slip back under $91,521 and fall toward $89,800. A drop below that level would signal fading demand and invalidate the short-term bullish outlook, exposing BTC to deeper retracements.

Sui Leads The Altcoins

SUI price is up 23% in the last 24 hours, trading at $1.65 at the time of writing and holding firmly above the $1.60 support level. The altcoin has become one of the day’s strongest performers as buyers return following a volatile week.

The RSI reflects improving momentum and now sits near the neutral 50.0 mark. A decisive move above this level would confirm a shift from bearish to bullish sentiment. This would potentially drive SUI past $1.75 and toward the $2.00 region if demand continues to build.

If bullish momentum weakens and holders move to secure profits, SUI could slip below $1.60 and fall toward $1.49. Losing this support would invalidate the bullish thesis and expose the altcoin to a deeper decline toward $1.31.

The post Why Is The Crypto Market Up Today? appeared first on BeInCrypto.

In the first week of December 2025, Coinbase—the largest US exchange—added five new assets to its listing roadmap. This move signaled a positive shift in recovering demand from US investors.

Additionally, Bithumb listed new altcoins. Although market sentiment remains fearful. However, several indicators show that US investor appetite is improving.

Coinbase and Bithumb Add New Altcoins

In a new announcement, Coinbase revealed that five new assets have been added to its listing roadmap.

The roadmap is a list of tokens that Coinbase is evaluating for potential future listing. Coinbase emphasized that listing depends on support from market makers and the availability of sufficient technical infrastructure. The exchange will announce the trading schedule later.

The newly added altcoins include:

• Humidifi (WET) – the largest decentralized exchange (DEX) on Solana by volume, handling over $1 billion in daily trading.
• zkPass (ZKP) on Ethereum (ERC-20), known for zero-knowledge proof technology that enhances data privacy.
• Plume (PLUME) on Ethereum, an RWAfi (Real World Assets Finance) platform integrating with Circle’s Arc testnet. It aims to connect traditional finance with DeFi.
• Hyperlane (HYPER) on the Base network, enabling cross-chain communication.
• Jupiter (JUPITER) on Solana, the leading DEX aggregator in the Solana ecosystem.

Among them, Humidifi (WET) and zkPass (ZKP) remain largely unlisted on centralized exchanges. The remaining altcoins showed no significant price reactions after the news.

In addition, Korean exchange Bithumb announced two new KRW-traded listings: BOB (Build on Bitcoin) and OriginTrail (TRAC).

BOB is a protocol that combines ZK proofs and BTC staking to create native bridges to Ethereum and Bitcoin (BitVM). OriginTrail is an ecosystem building a trusted knowledge infrastructure for artificial intelligence. After the listing news, BOB gained 24% and TRAC rose more than 13%.

Liquidity Signals Turn Positive Again

These developments came as the Coinbase Premium Index—an indicator measuring the price difference of Bitcoin between Coinbase and other exchanges, representing US investor demand—turned positive again after remaining negative for a full month.

The index stayed negative from November, indicating capital outflows from the US. The early-December reversal suggests that sentiment among both institutional and retail investors in the US is improving. This shift may support inflows not only into Bitcoin but also into other cryptocurrencies.

“Coinbase Bitcoin Premium Index just flipped positive again, showing fresh demand… US liquidity returning & the real move begins soon,” investor Money Ape commented.

At the same time, the stablecoin market recorded strong growth, reinforcing confidence in an overall recovery. According to Lookonchain, Tether minted an additional 1 billion USDT on Tron on December 3. This pushed the stablecoin market cap on Tron above $80.2 billion.

As a result, total stablecoin market capitalization began rising again in early December after declining throughout November. It now stands at more than $306.85 billion, according to DefiLlama.

Leon Waidmann, Head of Research at Onchain Foundation, expects stablecoin market capitalization to reach new all-time highs soon.

Coinbase and Bithumb’s addition of New Altcoins, combined with strengthening US investor demand and surging stablecoin inflows, may trigger an altcoin recovery in December. Some analysts even argue that the Fed ending quantitative tightening (QT) could ignite a multi-year altcoin rally similar to the 2019–2022 period.

The post Coinbase and Bithumb List More Altcoins as Investor Demand Recovers appeared first on BeInCrypto.

Solana started a recovery wave above the $135 zone. SOL price is now consolidating and faces hurdles near the $140 zone.

• SOL price started a decent recovery wave above $132 and $135 against the US Dollar.
• The price is now trading above $135 and the 100-hourly simple moving average.
• There was a break above a key bearish trend line with resistance at $138 on the hourly chart of the SOL/USD pair (data source from Kraken).
• The price could continue to move up if it clears $140 and $142.

Solana Price Jumps 10%

Solana price remained stable and started a decent recovery wave above $130, like Bitcoin and Ethereum. SOL was able to climb above the $135 level.

There was a move above the 61.8% Fib retracement level of the downward move from the $145 swing high to the $123 low. Besides, there was a break above a key bearish trend line with resistance at $138 on the hourly chart of the SOL/USD pair.

Solana is now trading above $135 and the 100-hourly simple moving average. It is also above the 76.4% Fib retracement level of the downward move from the $145 swing high to the $123 low. On the upside, immediate resistance is near the $140 level.

The next major resistance is near the $142 level. The main resistance could be $145. A successful close above the $145 resistance zone could set the pace for another steady increase. The next key resistance is $155. Any more gains might send the price toward the $162 level.

Another Decline In SOL?

If SOL fails to rise above the $140 resistance, it could continue to move down. Initial support on the downside is near the $136 zone and the same trend line. The first major support is near the $134 level.

A break below the $134 level might send the price toward the $128 support zone. If there is a close below the $128 support, the price could decline toward the $120 zone in the near term.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone.

Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level.

Major Support Levels – $136 and $134.

Major Resistance Levels – $140 and $142.

Bitcoin (BTC) began the week dropping nearly 10% from the recent highs and retesting the $84,000 area before bouncing. As price risks more downside with early bear market signals, a market observer suggested that the upcoming weeks will be crucial for BTC’s future path.

Bitcoin Holds Key Weekly Range

Last week, Bitcoin led the brief market recovery, surging from its seven-month low of $80,600 toward the $93,000 area, retesting a key weekly re-accumulation range between these two levels. However, the Sunday correction sent the price back to the range lows, raising concerns about the flagship crypto’s short-term future.

Analyst Rekt Capital highlighted that BTC is stabilizing within its weekly range, holding its position above the $82,000 range low. This area marks the top of an early 2025 liquidity cluster that developed around the 50-Week EMA, where the price has tapped with three downside wicks over the past month.

“Last week’s Weekly Close above the Range Low enabled a relief move toward $93,500,” the analyst explained, “but that level acted as clean resistance,” after Friday’s rejection. To the analyst, maintaining stability around the weekly range lows is important because further downside wicking into the cluster is probable.

However, he noted that the consolidation structure remains intact as long as BTC’s price continues to hold above the range low in the weekly timeframe. Rekt Capital added that Bitcoin continues to trade below a sharply declining Macro Downtrend that “has been dictating resistance throughout this phase of the cycle.”

Per the analysis, “A breakout soon would require reclaiming higher price levels, whereas a later attempt would meet the trendline at lower valuations, narrowing the distance between the current price and resistance.”

“In either case, the Macro Downtrend remains the dominant structural barrier, and Bitcoin’s path forward depends on whether consolidation near the Weekly Range Low can bring price closer to a meaningful test of this sharply descending level,” he continued.

BTC’s Vulnerable Technical Environment Raises Alarms

Rekt Capital also highlighted that BTC remains below the 21-Week EMA and 50-Week EMA, which could pose a problem for its future price action as the distance between these moving averages continues to narrow.

As he detailed, when these EMAs compress and ultimately cross, it tends to precede further downside. Although it usually takes weeks after the crossover for price acceleration to “fully unfold,” it still implies that the crossover risk is increasing.

The two EMAs currently represent potential resistance levels on future relief attempts, with the 50-Week EMA retest “leaving room for a future rejection if price revisits it.”

This position, the analyst explained, places BTC in a “vulnerable technical environment” as “the convergence of the EMAs toward the Macro Downtrend creates a layered zone of resistance that will be difficult to overcome unless price can reclaim one of these moving averages and stabilise above it.”

Until Bitcoin successfully turns one of the EMAs into support, “the structure resembles the early-stage clustering seen in prior cycles where EMAs compressed before a broader bearish continuation,” the analyst concluded.

As of this writing, Bitcoin is trading at $88,294, a 2.3% increase in the daily timeframe.