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Крупный американский банк JPMorgan Chase закрыл очередной банковский счет, принадлежащий участнику криптоиндустрии. На этот раз от банка оказался «отрезан» директор отдела маркетинга децентрализованной платформы ShapeShift Хьюстон Морган (Houston Morgan).

Японская компания Metaplanet сообщила о привлечении еще $130 млн в виде кредита, обеспеченного биткоином, для ускорения покупки актива и реализации стратегий получения дохода.

Swedish fintech firm Klarna has entered the cryptocurrency space with the announcement of a USD stablecoin, set to roll out in 2026.

Klarna To Launch Stablecoin On Tempo Blockchain

As announced in a press release, Klarna has launched its stablecoin on Tempo’s testnet. The stablecoin, called KlarnaUSD, is backed one-to-one by the US Dollar, and will be available to the public in 2026.

Klarna is a global digital bank and payments provider headquartered in Sweden, with the US hosting its largest userbase. The stablecoin debut represents the first venture of the fintech company into digital assets.

KlarnaUSD is built using Bridge’s Open Issuance, a platform that allows businesses to launch and manage their own stablecoins. It runs on Tempo, a blockchain created by payments processor Stripe and crypto investment firm Paradigm that advertises itself as being designed for payments.

Stripe also owns Bridge after its acquisition earlier in the year. “The partnership deepens an already extensive relationship between Klarna and Stripe, which spans payments infrastructure across Klarna’s 26 markets globally,” noted the announcement.

Since the blockchain allows for quick and cheap payments, Klarna believes that stablecoins could be a way to cut down on cross-border transaction fee costs, which are estimated to cost merchants and consumers $120 billion annually.

Stablecoins have been gaining more adoption across the globe, with positive regulation coming from various governments this year. Management consulting firm McKinsey has estimated that transactions related to these fiat-pegged cryptocurrencies now touch $27 trillion a year, and could eclipse legacy payment networks before the decade is over.

Sebastian Siemiatkowski, Klarna co-founder and CEO, said:

With 114 million customers and $112 billion in annual GMV, Klarna has the scale to change payments globally: with Klarna’s scale and Tempo’s infrastructure, we can challenge old networks and make payments faster and cheaper for everyone

Currently, Klarna is prototyping the stablecoin on Tempo’s testnet, but it will not be open publicly until the mainnet launch next year. The move appears to only be a beginning in the cryptocurrency sector for the buy-now-pay-later firm, as the press release has teased the reveal of its next partner in the coming weeks.

In some other news, CryptoQuant community analyst Maartunn has spotted a curious transaction on the Bitcoin blockchain. The move in question induced a spike of 80,472 on the long-term holder SOPR, an indicator that tracks the profit-loss ratio of transfers involving coins from dormant hands (155+ days of holding time).

At the time the transaction occurred, BTC was trading around $84,000. Considering the profit-loss ratio of the move was 80,472, the coins must have had a cost basis close to $1.

Maartunn dug into blockchain data and found that the transfer came from a wallet that originally held 13 BTC mined back in 2013, and has been selling roughly 1 BTC every year since 2018.

BTC Price

Bitcoin recovered above $89,000 on Monday, but the coin has since seen a setback as it’s now back at $86,200.

Комиссия по защите персональных данных Таиланда (PDPC) распорядилась, чтобы компания World, ранее известная как Worldcoin, прекратила сбор биометрических данных у местных жителей и удалила информацию об 1,2 млн пользователей.

Ключевая угроза квантовых вычислений для Биткоина заключается не в технологиях, а в отсутствии консенсуса в криптосообществе, заявил основатель аналитического сервиса Checkonchain Джеймс Чек (James Check).

South Korea’s long-awaited stablecoin legislation risks being delayed until next year, as financial authorities brawl with the Bank of Korea (BOK) over the role of banks in the sector.

BOK, Financial Regulators In Disagreement

On Tuesday, Korea JoongAng Daily reported that the highly anticipated stablecoin framework, which is expected to come by the end of 2025, seems unlikely to pass this year, arguing that while regulators aim to open the market to tech companies, the central bank insists that the financial institutions should hold a majority stake in the issuance of any won-pegged token.

According to the local news media outlet, the BOK and regulators agree that banks must be involved in the issuance of won-pegged tokens, but differ on the extent of the financial institutions’ role.

The central bank is pushing for a consortium of banks owning at least 51% of any stablecoin issuer seeking regulatory approval. Meanwhile, regulators are reportedly willing to take a chance at innovating Korea’s financial structure, involving diverse players in the process.

Korea JoongAng Daily affirmed that, “even if the two sides agree on the ownership issue, other issues remain unresolved, including limits on the total issuance amount and the regulatory framework.”

Moreover, the BOK is allegedly calling for a legally mandated interagency council to make stablecoin policy decisions by a unanimous vote. Nonetheless, financial regulators are seemingly pushing back, citing a lack of legal basis for this requirement.

In July, BOK Governor Lee Chang-yong expressed concerns about the issuance of stablecoins by non-bank entities, claiming that the digital assets could confuse monetary policies and foreign exchange regulations.

Lee asserted that “if multiple non-bank institutions issue won-pegged stablecoins, it could lead to confusion similar to that caused by private currency issuance in the 19th century,” adding that if won-pegged tokens are allowed to be issued “indiscriminately,” it may conflict with foreign exchange liberalization policies.

Last month, the central bank released a report warning that these digital assets could unlock new possibilities for the Korean economy but could also “sow the seeds of new instability.” In the report, the BOK affirmed that the promise behind stablecoin raises unrealistic expectations in the market.

“Allowing non-bank companies to issue stablecoins is essentially equivalent to permitting them to engage in narrow banking — simultaneously issuing currency and offering payment services,” the central bank claimed.

In addition, it warned that online platform companies issuing their own stablecoins could integrate payment and settlement services into their ecosystems, further consolidating “monopolistic power” and potentially altering banks’ profit structure.

Korea’s Stablecoin Sector Faces Regulatory Challenges

A BOK official, on condition of anonymity, told Korea JoongAng Daily that “banks, which are already under regulatory oversight and have extensive experience handling anti-money laundering protocols, are best positioned to serve as majority shareholders in stablecoin issuers.”

However, the report noted that financial authorities are concerned that giving a majority stake to banks could reduce participation from tech companies and constrain the Korean market’s innovation.

As reported by Bitcoinist, financial institutions in Korea have been preparing for two potential scenarios. Notably, the sector has allegedly explored a business model in which banks establish a joint venture to collectively issue stablecoins, while also contacting various non-bank companies to prepare for the upcoming framework.

The regulatory standoff has seemingly left the market in limbo, with some tech companies actively preparing to secure approval while others remain cautious due to the unclear regulatory direction.

An official at a fintech company revealed that “there’s doubt about whether a won-based stablecoin will catch on, and with no clarity on approval rules, most firms are taking a wait-and-see approach.”

Korea JoongAng Daily cited a recent report by Hashed Open Research, which argued that “to maintain competitiveness in the digital economy, Korea should adopt a capital market-led structure instead of a bank-centered one,” similar to major issuers such as Tether and Circle.

Kim Sang-bong, an economics professor at Hansung University, considers that “to earn public trust, stablecoins can’t be left entirely in the hands of tech firms, and financial institutions must be involved.”

“But if banks dominate, innovation could be stifled. A more realistic solution may be to start by granting licenses to card companies and other firms focused on payments,” Kim concluded.

Согласно отчету о финансовой стабильности за 2025 год, опубликованному Южноафриканским резервным банком (SARB), местные жители стали чаще пользоваться цифровыми активами и стейблкоинами, поэтому криптовалюты могут угрожать финансовой стабильности страны из-за пробелов в регулировании отрасли.

Каждый шестой американец в праздничный сезон 2025 года предпочтет криптовалюту традиционным подарочным картам, выяснили в совместном опросе Национальная ассоциация криптовалют (NCA) и платежная компания PayPal.

Amid ongoing speculation regarding the true identity of Bitcoin’s (BTC) creator, new analysis suggests that Jack Dorsey, the entrepreneur known for founding Twitter and currently serving as the CEO of Block, could potentially be Satoshi Nakamoto. 

Surprising Links Between Jack Dorsey And Bitcoin’s Satoshi

During Square’s investor day last week, Dorsey was directly questioned about his possible connection to Satoshi. Jeff Cantwell, an analyst at Seaport Research, posed the pointed inquiry: “Jack, this probably is the most important question you’ll ever get asked from the sell side — are you Satoshi Nakamoto?” 

In response, Dorsey remarked that the identity of Satoshi has become irrelevant, emphasizing that Bitcoin is now an open protocol managed by a community. He added, “If it was important to Satoshi, there is a simple way they can prove who they are, so we’ll wait for that day.”

This response prompted analysts from Baird to investigate potential coincidences linking Dorsey to Satoshi. They discovered several notable parallels.

For instance, the first post on the BitcoinTalk forum by Satoshi was made on November 19, which also happens to be Dorsey’s birthday and coincided with the date of Block’s investor day. Block’s CFO, Amrita Ahuja, noted, “He may or may not be Satoshi, but it is his birthday today.”

Furthermore, the Baird team identified important early Bitcoin milestones that align with the birthdays of Dorsey’s parents. They pointed out that Dorsey was involved in the “cypherpunk” mailing list as early as 1996 and possesses programming skills in C and Python, languages featured in the initial Bitcoin codebase. 

Additionally, an early Bitcoin address reportedly includes a sequence, “jD2m,” which some interpret as “Jack Dorsey 2 Mint,” referencing Mint Plaza, where he lived.

Mining Patterns And IP Address

The analysts also observed a notable change in Satoshi’s mining patterns that allegedly coincided with Dorsey founding Block in February 2009. They highlighted that he visited Iraq with the State Department in April of that same year. 

Reports indicate that in early 2009, Satoshi inadvertently logged into an Internet Relay Chat using an IP address linked to California during a period when Dorsey resided in the Bay Area.

An essential aspect of this speculation centers around Satoshi’s wallet containing approximately 1 million Bitcoin, which have remained untouched since their mining. 

This fact aligns with Dorsey’s previous assertion that the mystery surrounding Satoshi’s identity could be resolved quite simply. Forbes estimates Dorsey’s wealth at around $4.7 billion, suggesting he has no need to access those long-dormant holdings, currently worth about $87 billion.

NewsBTC reported on Monday that Satoshi’s assets are now estimated to be valued at nearly $96 billion, positioning this mysterious figure just below US billionaire Bill Gates, who is estimated to have a net worth of about $104 billion.

The quest to unveil Satoshi’s identity has led to a variety of candidates, including the late software engineer Hal Finney, systems engineer Dorian Nakamoto, computer scientist Nick Szabo, and Hashcash inventor Adam Back. 

In 2016, Australian cryptographer Craig Wright claimed to be Satoshi but failed to provide compelling evidence, leaving many skeptical of his assertions. A British High Court ruling last year further undermined Wright’s claims.

BTC is currently trading at $86,540, down more than 31% from its all-time high reached back in October and more than 8% year-to-date (YTD). 

Featured image from DALL-E, chart from TradingView.com 

On-chain data shows Bitcoin sharks and whales have observed their population grow during the recent market downturn, while retail has capitulated.

Bitcoin Sharks & Whales Have Been Growing In Number Recently

In a new post on X, on-chain analytics firm Santiment has talked about the latest trend in the Supply Distribution of the key Bitcoin investors. The “Supply Distribution” is an indicator that tells us, among other things, the number of addresses that belong to a particular cohort.

Investors are divided into these groups based on the amount of the asset that they are carrying in their balance. For example, the 1 to 10 coins cohort includes all wallets with at least 1 and at most 10 BTC. The Supply Distribution for this group would determine the total number of addresses on the network that fall inside the range.

In the context of the current topic, the range of interest is the 100+ BTC one, equivalent to about $8.6 million at the current exchange rate. It includes two key investor cohorts known as the sharks and whales. The sharks and whales are entities that can carry some degree of influence on the blockchain due to their large holdings (with whales naturally being the more important of the two), so their behavior can often be worth keeping an eye on.

Since the all-time high (ATH) in October, Bitcoin has been following a downtrend, and as the chart below shows, the sharks and whales initially reacted by exiting as their Supply Distribution registered a sharp drop.

Interestingly, however, as Bitcoin’s decline has accelerated since November 11th, the Supply Distribution of the sharks and whales has witnessed a reversal. Today, there are 91 more investors of this size on the network compared to the low earlier in the month. This represents an increase of 0.47% for the metric, which, while not that high, is a sign that big money holders have been slowly coming back in to buy the crash.

Santiment has also revealed that the smallest of investors on the network (holding less than 0.1 BTC or $8,700) have seen their population shrink at the same time as this growth in the sharks and whales.

This trend could be a potential indication that the small hands have been capitulating after the bearish momentum, and large entities have been buying coins off them. “Retail capitulation will generally play out well for crypto prices in the long run,” explained the analytics firm.

BTC Price

Bitcoin displayed a brief recovery above $89,000 on Monday, but the coin has since retraced back to $87,000.

China has quietly worked its way back into the top three global Bitcoin miners, holding about 14% of the network’s total computing power.

Reports have disclosed that this share is roughly equal to 145 EH/s (exahashes per second), putting the country behind the United States and Russia in raw hashrate.

The shift comes despite an official crackdown on mining that started in 2021, when many operations moved overseas.

According to data from Hashrate Index and other tracking services, the rebound is real and measurable. Some mining activity now appears to be running in Xinjiang and Sichuan, where power costs can be low at certain times.

Based on reports, operators are using a mix of legacy farms, small private setups and cloud-like arrangements that mask mining as other forms of compute work.

Why Bitcoin Mining Returned To China

Cheap electricity is one driver. Another is that factory and data center capacity can be reused without large new investments. Manufacturers that supply mining rigs also report stronger sales back home.

Canaan, a maker of mining machines, has seen a pickup in Chinese demand. That suggests money is again flowing into hardware and setup, not just into restarting old machines.

At the same time, revenue from mining has been under pressure. Hashprice — the estimated payout per unit of hashrate — fell to record lows this year as Bitcoin prices and fees weakened and mining difficulty rose.

That decline puts strain on smaller players and makes efficiency and low-cost power more important than ever.

What This Means For The Network

A return of significant mining capacity to China raises two kinds of concern. One is over concentration: if too much hashrate clusters in particular regions or systems, the network’s geographic diversity shrinks.

The other is enforcement uncertainty. Mining remains banned on paper in many parts of China, yet enforcement appears uneven. As a result, some operations run under the radar while others run in partnerships with local firms that provide energy and space.

Publicly available maps track hashrate by country, but exact figures can shift fast. The best current snapshot points to China at 14% and about 145 EH/s of capacity, but those numbers will change as miners add or remove machines.

The United States and Russia remain the largest hosts, and that fact does limit immediate systemic risk.

What Analysts Are Watching

Analysts will watch three things closely: whether Chinese authorities change enforcement, how hardware makers like Canaan perform in coming quarters, and whether hashprice recovers if Bitcoin’s price strengthens.

If policy softens in some regions, more visible growth could follow. If enforcement tightens, activity could scatter again, just as it did after the 2021 ban.

Featured image from Unsplash, chart from TradingView

Bitcoin is now trading roughly 30% below its $126,000 all-time high, reflecting a market gripped by selling pressure, uncertainty, and fading confidence. The sharp downturn has shaken investors who expected continued upside, and many analysts are beginning to argue that the cycle has already peaked.

Price action remains fragile, with buyers struggling to regain control and momentum indicators pointing to exhaustion rather than strength. Yet, despite the bearish tone, there are emerging signs that the current phase may be approaching an inflection point.

According to top analyst Axel Adler, both the Bitcoin Bull-Bear Index and the Futures Flow Index remain firmly within a bearish regime, signaling that market structure still favors downside risk. However, Adler highlights that Bitcoin is currently trading 11% below its 30-day fair value of $99.2K, suggesting a notable disconnect between price and underlying derivatives positioning.

This divergence has historically appeared near corrective exhaustion zones rather than early-stage declines. Additionally, short-term dynamics across both indices indicate the first signs of an attempted reversal, with selling pressure slowly weakening and momentum beginning to stabilize.

Bearish Structure Weakens as Bitcoin Attempts to Stabilize

The daily Bitcoin bull and bear structure index shows a sustained shift to the bearish side since November 11, reflecting the strongest downside momentum of this cycle. The red BEAR line moved deep into negative territory at -36%, signaling persistent dominance of selling pressure.

However, the indicator is now starting to reverse, suggesting that the most aggressive phase of bearish control may be fading. At the same time, Bitcoin is consolidating around $87,000 after briefly plunging to $80,000, marking an early attempt to stabilize and rebuild support following the sharp decline.

Fast versions of the index highlight increased volatility, with the metric rising from -43 to -20 — a clear sign that bear pressure is easing. Although this does not yet indicate a trend reversal, it reflects a meaningful reduction in downside intensity. In the futures market, the index remains in a bearish regime as well, with values rising but still failing to break above the key 55 threshold. A move above that level would signal the first structural attempt to transition back into a bullish phase.

The fair value level, currently positioned at $99,000, shows Bitcoin trading $11,000 below equilibrium, reinforcing undervaluation. Together, both indices indicate that the market is attempting to exit the bearish regime it has been trapped in for more than a month, though confirmation will require stronger follow-through.

Weekly Structure Tests Key Support Amid Attempted Stabilization

Bitcoin’s weekly chart shows the market attempting to stabilize after a sharp decline from its all-time high near $126,000. Price is currently trading around $87,300, reflecting a significant drawdown of more than 30% from the peak. The recent candle structure highlights a temporary rebound after tagging lows near $80,000, suggesting that buyers have stepped in at a critical support zone.

The 100-week moving average, sitting close to current levels, is acting as an important dynamic support and has historically served as a threshold separating bullish continuation from deeper cyclical breakdowns. Despite the bounce, the price remains below the 50-week moving average, which is beginning to curl downward, signaling weakening trend strength.

Volume increased noticeably during the selloff, reflecting capitulation behavior and aggressive repositioning among market participants.

Related Reading: Bitcoin Loses $85K as Coinbase Premium Stays Negative for 21 Straight Days – Details

If Bitcoin maintains support above this zone and reclaims the 50-week moving average, a recovery toward the $95,000–$102,000 region becomes plausible. However, if selling pressure resumes and the price loses the 100-week moving average, the next downside magnet sits near the $75,000–$78,000 range.

The weekly structure shows a market in correction but not yet in a confirmed macro reversal, with the upcoming candles likely determining whether the cycle continues or breaks down further.

Featured image from ChatGPT, chart from TradingView.com

Bitcoin’s (BTC) latest rebound from a seven-month low has revived debate over whether the market is nearing a deeper downturn or preparing for a fresh reversal.

With the price hovering around the $87,000 range after a brief dip to $81,000, on-chain data, macro shifts, and ETF flows are painting a picture of both caution and opportunity.

Whales Accumulate as Retail Capitulates

New on-chain figures from Santiment reveal a sharp divergence between large and small Bitcoin holders.

Since November 11, wallets holding at least 100 BTC have surged, adding 91 new large addresses even as prices trended downward. This growing whale accumulation has historically appeared near long-term market bottoms, suggesting that strategic buying occurs during periods of weakness.

Conversely, wallets holding 0.1 BTC or less continue to decline, reflecting elevated fear among retail investors.

Santiment notes that heavy retail selling often sets the stage for later recoveries, once large entities absorb the supply and market pressure eases. The pattern mirrors earlier cycles in which deeper retail capitulation preceded major trend reversals.

Mixed Bitcoin (BTC) Technical Signals

Several key indicators are offering conflicting signals on Bitcoin’s next move. CryptoQuant data indicate that Bitcoin’s Sharpe Ratio is dipping into its “green zone,” suggesting that risk-adjusted returns are becoming more attractive, similar to levels observed before major uptrends in 2019, 2020, and 2022.

Capriole Investments’ “Bitcoin Heater” metric has also returned to deep green, suggesting strong potential for upside movement.

Yet not all metrics signal immediate recovery. The aSOPR (Adjusted Spent Output Profit Ratio), a reliable cyclical indicator, has spent nearly two years consolidating without reaching the “red line” levels that marked tops in previous bull runs.

Analysts warn that a decisive breakout of this long consolidation pattern is imminent, though the direction remains unknown.

Macro Forces and ETF Outflows Fuel Uncertainty

Arthur Hayes believes that Bitcoin may retest the low $80,000s but expects the $80K level to hold as firm support, especially as the Federal Reserve ends quantitative tightening on December 1.

Markets are also pricing in a 77% chance of an interest rate cut at the December 9–10 meeting, driving renewed optimism across risk assets.

However, institutional flows tell a different story. BlackRock’s Bitcoin ETF has recorded a staggering $2.35 billion in withdrawals this month, its largest outflow since launch. The wave of redemptions underscores weakening confidence among big-money players amid price volatility and macro uncertainty.

Even so, Bitcoin’s recent 1.3% recovery to $88K, alongside strong rebounds in Ethereum, XRP, and major altcoins, shows that buyers are stepping back in.

Analysts warn that volatility will remain elevated, however, if whale accumulation continues and macroeconomic conditions ease, Bitcoin may yet defend the crucial $80K support and attempt another push toward the $90K barrier.

Cover image from ChatGPT, BTCUSD chart from Tradingview

Shanaka Anslem Perera, a crypto pundit and ideologist, has just unveiled a staggering financial miscalculation that could shake the Bitcoin (BTC) market. Perera has dissected the enormous Bitcoin holdings of business intelligence company, Strategy Inc., exposing structural flaws in the firm’s approach to corporate crypto accumulation. The pundit’s report details how a financial architecture designed to secure hundreds of thousands of BTC may be mathematically and operationally unsustainable, posing a risk to both Strategy and the market. 

Strategy’s $48 Billion Bitcoin Error

Perera’s report, published on Monday, November 24, highlights Strategy’s disclosure that it currently holds 649,870 Bitcoin, purchased at an average of $74,433 per coin, totaling $48.4 billion. This massive holding represents about 3.26% of BTC’s maximum supply. The crypto pundit noted that the accumulation was financed through complex capital market instruments, including $43.1 billion raised via convertible debt with near-zero interest, high-yield perpetual preferred securities, and equity offerings issued at market premiums. 

According to Perera, on paper, the mechanics behind Strategy’s Bitcoin accumulation were flawless. However, in practice, the structure is now approaching levels of unsustainability that could break the crypto market. The analyst disclosed that Strategy’s accounting reveals a concerning reality for its future. He notes that the company has only $54 million in cash against $700 million in annual preferred dividends. 

Perera likens Strategy’s structure to a Ponzi Scheme, noting that the software business reportedly generates negative cash flow, forcing it to rely on continuous capital raises to service existing debt. He said that the firm’s business model worked previously because equity trades were at a premium to net asset value, enabling recursive Bitcoin accumulation. However, that premium fell to match its value in November 2025, stopping the cycle and putting the company at risk of dilution. 

Furthermore, Perera revealed that preferred stocks made Strategy’s situation much worse. According to his report, dividend rates rose previously from 9% to 10.5% to attract investors as share prices fell. However, he warns that any further declines could force the company to sell its Bitcoin holdings to pay dividends, which goes against the strategy behind its BTC bet. 

Moreover, upcoming events like the MSCI index in January 2026 could force Strategy to sell billions of Bitcoin, potentially becoming a nightmare for the crypto market. Perera highlighted that past events, such as the October 10 crash, when $19 billion in positions were wiped out, highlight the risk of large-scale corporate Bitcoin holding. 

Large-Scale BTC Sales Could Threaten Market Stability

Perera has also challenged Strategy’s recent claim of 71 years of dividend coverage, which the company calculated by dividing its total Bitcoin holdings by annual dividend obligations. The crypto analyst disclosed that these claims ignore market realities, tax implications, and the liquidity limits of sovereign-scale BTC sales. 

He pointed out that Strategy assumes they can sell $1 billion of Bitcoin annually without affecting the price. However, the October 10 crypto crash proved that this assumption is false, as the market is unable to absorb large-scale selling during periods of stress. 

Given the risky situation, Perera predicts that by March 2026, the market will deliver a verdict. Strategy may either have to restructure and shrink to survive, or the corporate Bitcoin treasury model could collapse as a failed experiment. During this period, Strategy could sell a portion of its Bitcoin, which could put pressure on the BTC price.

Japan is taking decisive action to strengthen investor protection in its rapidly growing crypto sector.

Related Reading: Analyst Predicts 430% PEPE Price Rally If This Level Holds

The country’s Financial Services Agency (FSA) is preparing a sweeping regulatory overhaul that would require crypto exchanges to maintain mandatory liability reserves, funds specifically set aside to compensate users in the event of hacks, thefts, or system failures.

The move comes as Japan confronts rising digital-asset security breaches and seeks to align crypto oversight with traditional financial market standards.

FSA Targets Liability Reserves to Shield Users From Hacks

According to multiple reports from Japanese media, including The Nikkei, the FSA will introduce a legal framework obligating exchanges to create dedicated compensation reserves beginning in 2026.

These reserves would function similarly to those required in the securities industry, where firms must set aside capital ranging from ¥2 billion to ¥40 billion (approximately $12.7 million to $255 million) depending on scale and risk.

Japan’s crypto market, home to more than 12 million accounts, has suffered repeated security incidents, including the 2024 DMM Bitcoin breach, where attackers siphoned over 4,500 BTC through a vulnerability in a third-party wallet provider.

Even the longstanding cold-wallet exemption, previously considered sufficient risk mitigation, will now be phased out as part of a broader tightening of custody rules.

The FSA’s working group under the Financial System Council is reviewing legal definitions and preparing a report that will recommend mandatory reserves. The agency is also considering allowing exchanges to use insurance to cover part of the required liabilities, easing the financial burden on smaller platforms.

New Rules Aim to Restore Trust After Years of High-Profile Breaches

Japan’s renewed urgency reflects a decade of crypto-related failures, from the infamous Mt. Gox collapse in 2014 to the DMM Bitcoin and SBI Crypto breaches in 2024 and 2025. Analysts say the proposed reserves could restore trust by ensuring swift compensation in the event of incidents, even during exchange bankruptcies.

Under the new framework, exchanges would be required to segregate customer assets, maintain audited reserve accounts, and submit to stricter risk assessments. A court-appointed administrator could oversee asset returns if an exchange fails, preventing prolonged legal battles like those faced by Mt. Gox creditors.

Toward a More Secure and Mature Crypto Market?

Japan’s regulatory overhaul extends beyond liability reserves. The FSA is also exploring new registration requirements for wallet-management and custodial service providers, after several breaches were traced to outsourced systems.

Additionally, policymakers aim to reclassify crypto assets under the Financial Instruments and Exchange Act, paving the way for regulated crypto ETFs, investment trusts, and improved tax treatment.

Related Reading: $11 Million Crypto Vanishes In San Francisco Fake-Delivery Heist

If approved in the 2026 Diet session, the reforms would position Japan among the world’s most secure digital-asset jurisdictions, striking a balance between investor protection and support for responsible industry growth.

Cover image from ChatGPT, BTCUSD chart from Tradingview

Ethereum has lost the $3,000 mark and hasn’t been able to reclaim it for days, reinforcing growing concerns that the market may be entering a deeper corrective phase. Selling pressure continues to mount as traders unwind positions and sentiment shifts toward caution.

The broader crypto market is also weakening, adding to speculation that a bear market could be forming earlier than many expected. Fear and uncertainty now dominate social metrics, derivatives data, and spot flows, with investors questioning whether ETH has already set its cycle top. Yet, despite the pessimism and deteriorating price structure, not all players are retreating. In fact, some of the largest market participants are aggressively accumulating.

New data from Lookonchain reveals that Tom Lee’s Bitmine bought 69,822 ETH valued at $197.25 million last week alone. This brings their total holdings to a staggering 3,629,701 ETH worth approximately $10.25 billion.

Bitmine Faces Massive Unrealized Loss as Market Awaits Direction

According to a press release from Bitmine, the firm’s average buying price sits near $3,997, leaving its position at an unrealized loss of roughly $4.25 billion at current market levels. This disclosure highlights the scale of conviction behind Bitmine’s accumulation strategy, but it also underscores how deeply Ethereum has retraced since its recent highs. The continued drawdown reflects the broader uncertainty gripping the market, where fear and hesitation are overpowering momentum and liquidity remains thin.

The market is now entering a critical phase that could define price behavior for the coming months, as traders assess whether ETH can stabilize and begin reclaiming lost ground. Many analysts argue that despite the sharp retracement, Ethereum remains positioned for a recovery, especially if macro conditions improve and selling pressure eases. They point out that historically, similar periods of aggressive whale accumulation during market weakness have preceded strong rebounds and renewed investor confidence.

However, others warn that if ETH fails to regain momentum above key psychological levels, downside continuation could deepen. This moment has therefore become a dividing line between bullish expectation and bearish caution.

Ethereum Price Action Shows Weak Recovery Attempts Amid Bearish Structure

Ethereum’s price action on the daily chart continues to reflect a market struggling to regain upward momentum after losing the $3,000 level. The recent bounce toward $2,900 shows a temporary reaction, yet the broader structure remains bearish as ETH trades below the 50-day, 100-day, and 200-day moving averages.

This alignment of moving averages — with the faster averages positioned beneath the slower ones — confirms a sustained downward trend that has been developing since early October.

The chart also shows declining highs and lower lows, reinforcing that buyers have not yet regained control. Volume spikes during selloffs indicate that bearish activity is driving market movement more than accumulation. Despite brief recoveries, each attempt to push higher has been rejected near resistance around the $3,150–$3,250 range, suggesting that sentiment remains fragile.

Additionally, the red 200-day moving average near the $3,500 zone is now a critical long-term threshold. If ETH cannot reclaim this region in the coming weeks, the probability of continued consolidation or even deeper correction increases.

For now, Ethereum remains in a vulnerable position, requiring stronger demand to shift the trend back in favor of bulls.

Featured image from ChatGPT, chart from TradingView.com

The XRP Ledger’s smart contract functionality is now available for developers to test on AlphaNet, opening the door for the first wave of experimentation on how programmability will operate on the Ledger. 

As developers begin to explore this new phase, an XRPL validator known as Vet on X has clarified a major misunderstanding about what these smart contracts are designed to be. His explanation points out a clear difference between the Ledger approach and the models used by Ethereum and Solana.

XRPL Contracts Are Different From Ethereum And Solana

Ethereum and Solana are two of the biggest smart contract blockchains, and most applications can be easily traced to these two. However, recent updates indicate that the XRP Ledger now supports native smart contract capabilities on its dedicated test network, called AlphaNet, allowing developers to explore and test contract-deployment features.

As this testing phase begins, an XRPL validator known as Vet on the social media platform X has clarified an important point about the design of these contracts, noting that they differ significantly from the models used by Ethereum and Solana. The explanation matters because many investors assume the new feature is the same as what already exists on other chains, even though the structure is very different.

In his explanation, the contracts are being built specifically around how the Ledger already works, rather than trying to copy another network’s approach or branding. “XRP Smart Contracts are unique and differentiated. Tailored to fit the Ledger,” the validator said. 

According to Vet, one of the ideas behind the Ledger smart contracts is access to native features. He said there are building blocks on the XRPL that the contracts are meant to use, not replace. 

The goal is for smart contracts to work with what is already on the XRPL chain, rather than pushing those features aside or duplicating them under a different model. The validator noted that this is not a feature given with the Ethereum Virtual Machine (EVM).

Not Trying To Be The Best Smart Contracts Platform

Vet made it clear that the aim of XRP Ledger smart contracts is not to dominate the broader smart contract landscape. He said, “We are not aiming to be the best in smart contracts, we just want enough to elevate what’s available.”

Although the community surrounding the Ledger contracts is not trying to dominate the smart contract space, Ripple as a company continues to pursue much larger ambitions in global finance. The company’s CEO and other stakeholders have always outlined the company’s plan to take over the financial world in cross-border payments. 

This vision has been supported by external voices as well, including Sal Gilbertie, the CEO of Teucrium Trading, who recently offered a strong public endorsement of Ripple’s trajectory. According to Gilbertie, the crypto payments company is capable of competing with major financial institutions like JPMorgan Chase.

Texas made history this week by becoming the first US state to incorporate cryptocurrencies into its treasury strategy, purchasing $10 million in Bitcoin (BTC). 

Texas Leverages BlackRock’s Bitcoin ETF

Market expert MartyParty disclosed on social media platform X (formerly Twitter) that this investment was executed on November 25, 2025, through BlackRock’s spot Bitcoin exchange-traded fund (ETF).

This strategic move positions Texas as a trailblazer in state-level cryptocurrency adoption, reflecting a growing institutional interest in Bitcoin as a hedge against inflation and as a vehicle for financial innovation.

The initiative is rooted in legislative actions encapsulated in Senate Bill 21 (SB 21), known as the Texas Strategic Bitcoin Reserve and Investment Act. 

Signed into law by Governor Greg Abbott on June 20, 2025, this bill was sponsored by State Senator Charles Schwertner and garnered bipartisan support, passing the Senate with a vote of 25-5 in March and the House with a 101-42 vote in May. 

Setting A Precedent Ahead Of Arizona And New Hampshire

MartyParty noted that the allocation of $10 million represents a mere 0.0004% of Texas’s biennial budget, which totals approximately $338 billion. 

Importantly, this investment establishes a standalone reserve managed independently by the Texas Comptroller of Public Accounts, thereby shielding it from routine fiscal sweeps. 

This reserve is designed to hold Bitcoin and potentially other cryptocurrencies that have a market cap exceeding $500 billion. Additionally, Texas residents will have the option to donate Bitcoin to further enhance this reserve.

The execution of this purchase marks the first instance of taxpayer-funded state acquisition of Bitcoin. MaryParty highlighted states like Arizona and New Hampshire, which have passed similar authorization bills. However, they have yet to commit public funds into such digital asset treasuries.

As of press time, the leading cryptocurrency was trading at $86,930, down roughly 3% over the last 24 hours. 

Featured image from DALL-E, chart from TradingView.com 

Комиссия по торговле товарными фьючерсами США (CFTC) официально разрешила блокчейн-платформе прогнозов Polymarket работать на американском рынке. Запрет обслуживать жителей страны действовал почти четыре года.

Global risk desks are recalibrating their dashboards this week after prominent financial commentator and Bitcoin supporter Robert Kiyosaki reiterated his claim that the world is heading toward the “biggest crash in history.” His warning, amplified across markets already dealing with tightening liquidity and geopolitical volatility, has once again triggered fresh debate across traditional finance markets. The central question now circulating through trading floors and digital-asset circles is: if his prediction plays out, what would it mean for Bitcoin’s strategic outlook?

Why Kiyosaki Believes A Major Global Crash Is Approaching

In a post on X, Kiyosaki said the economic collapse he predicted over a decade ago in Rich Dad’s Prophecy is now unfolding. He pointed to simultaneous weakness across the United States, Europe, and Asia as clear evidence that the downturn is spreading globally. A major factor he highlighted is the impact of artificial intelligence on employment, which he believes could accelerate job losses across multiple sectors. According to him, these growing job losses will create additional pressure on both office and residential real estate markets, further deepening the financial strain on workers, businesses, and property markets.

Within this backdrop, Kiyosaki outlined the assets he believes are particularly important to hold during such a historic downturn. He stated that he intends to buy more gold, silver, Bitcoin, and Ethereum. While he positioned silver as the safest and most undervalued asset, predicting it could hit $70 in the near term and possibly $200 by 2026, he also made it clear that Bitcoin remains a strategic part of his crisis playbook and long-term financial strategy.

His repeated endorsement of Bitcoin—despite forecasting one of the most severe market declines in modern history—underscores that he views it as a strategic hedge aligned with the structural weaknesses of the current economy. He frames the crash as a wealth-transfer moment that could reward investors who are prepared and positioned with both digital assets and tangible, income-generating investments.

How Bitcoin Fits Into His Broader Wealth Strategy

While Kiyosaki briefly mentioned a recent sale of some of his Bitcoin in another X post, he clarified two key points relevant to understanding his broader positioning on Bitcoin. First, the sale was not an exit from Bitcoin; he remains bullish and intends to continue buying more. Second, the move reflects his long-standing playbook—using gains from one asset class to build or acquire cash-flow–generating businesses.

With this move, Kiyosaki demonstrates how Bitcoin fits into his system: an asset he accumulates during downturns, leverages during upcycles, and reintegrates into his portfolio to drive recurring income. By emphasizing both the severity of the crash and the continued relevance of Bitcoin in his strategy, Kiyosaki positioned the asset as part of the solution rather than part of the problem.