Category: crypto

The CFTC is forming the CEO Innovation Council to advise on crypto and prediction market policy, with Selig nominated for chair amid leadership changes. Nominations for the advisory body are open until Dec. 8. Selig advocates for strong regulatory presence in digital asset commodities amid debates over CFTC-SEC jurisdiction.

The U.S. Bureau of Economic Analysis has delayed the release of the initial estimate of third-quarter GDP and other economic reports due to a government shutdown. The lack of timely data leaves policymakers, investors, and markets without crucial insights on economic growth trends, potentially impacting decision-making.

Reliance Global Group has converted their entire crypto treasury into Zcash due to its compliance-ready privacy features. This decision was made after a strategic review led by the Chairman of the Crypto Advisory Board. Zcash’s dual transaction model and performance have led to renewed interest and institutional investment in the token.

Kakaobank is developing a won-pegged stablecoin called “Kakao Coin” and is hiring blockchain talent for backend development. They are also preparing for security token offerings with partnerships in place. South Korea’s new legislation supports STO market growth, with competitors Naver and Dunamu also advancing stablecoin and digital wallet strategies.

The Trump family’s wealth declined by over $1 billion due to losses in cryptocurrency investments. Trump Media & Technology Group and World Liberty Financial suffered major losses. Despite this, Eric Trump sees the downturn as a buying opportunity and remains committed to long-term investments in digital assets.

Bitcoin dominance is approaching resistance, while ETH/BTC is near support, signaling potential capital rotation and altcoin rallies. Historical patterns show that past altcoin seasons began when these indicators aligned, sparking multi-month outperformance for alternative cryptocurrencies. Analysts caution that selling pressure persists, but current chart signals suggest a setup for a potential rally.

$566 million in token unlocks scheduled this week may lead to increased volatility and price pressure in the cryptocurrency markets due to weak demand and reduced liquidity. Three major projects releasing restricted tokens are expected to impact prices, with potential downward pressure if demand does not match the influx of new supply.

Institutional investors withdrew $1.94 billion from crypto funds in a week, marking the third-largest outflow streak since 2018. Bitcoin and Ethereum were hit the hardest, with XRP defying the trend with inflows of $89.3 million. Despite the recent outflows, year-to-date inflows in crypto assets remain positive at $44.4 billion.

Enso will support the launch of the Monad mainnet on November 24, providing developers with tools for creating applications across trading, lending, bridging, stablecoin minting, and more. Enso’s integration with Monad will streamline the process of building on the new Layer-1 blockchain, allowing for immediate access to necessary resources.

Pump.fun co-founder Sapijiju denied allegations of cashing out stablecoin funds, stating that movements flagged by Lookonchain were part of internal treasury management. Some observers criticized the team’s strategy, while others praised their community engagement. Pump.fun’s ICO raised a significant sum, with some controversy surrounding Gate.io’s cancellation of the token’s pre-market listing.