Category: crypto

Texas has acquired $5 million of BlackRock’s iShares Bitcoin Trust as part of a $10 million initiative to create a state-level bitcoin reserve, potentially making it the first U.S. state to do so. Guidelines and custodian selection are being finalized for direct bitcoin holdings, with other states like Michigan, Wisconsin, New Hampshire, and Arizona also…

Users reported fake ERC-20 token transfers on Monad’s mainnet shortly after its launch. The spoofed transfers are not moving funds but are designed to look legitimate. Despite the scam tactics, no assets have been lost, and the network continues to see strong demand following the MON token airdrop.

U.S. Bancorp is testing stablecoin payments and custody services on the Stellar blockchain. The bank views stablecoins as a way to move money on a blockchain and is exploring use cases and customer interest. Other major U.S. banks like Citi, Goldman Sachs, and Bank of America are also exploring stablecoin initiatives.

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.