Core Concept - Ethereum is evolving into a public layer of the Internet, necessitating a novel valuation framework [1] Industry Perspective - The report introduces a public goods valuation framework for assessing Ethereum's value [1]

Overview - The report highlights the increasing adoption of crypto and blockchain technology globally, though the masses are not yet fully aware [1] - Avalanche is presented as a customizable, scalable, and inexpensive network designed for real-world use, leading to its growing popularity [1] Institutional Adoption - Institutions are leveraging Avalanche for tokenized real-world assets (RWAs), next-generation payment rails, and regulated market infrastructure [2] - FISGlobal and Intainft are building the Digital Liquidity Gateway on Avalanche [3] - DinariGlobal is providing access to fully compliant stock ownership onchain [3] - SierraIsMoney and Opentrade_io are experiencing rapid growth in tokenized treasuries and assets [3] - Grove Finance is bringing $250 million in RWAs onchain [3] - BalconyTech is tokenizing real estate onchain [3] - ETFs & DATs like AVAT and AVAX are utilizing Avalanche [3]

Core Insights - The U.S. federal banking regulator is signaling a regulatory shift that may reshape competition in trading services, particularly in the crypto sector [1] - JPMorgan is reportedly exploring crypto trading services for institutional investors, indicating a move from experimentation to execution among Wall Street banks [1][2] - The Office of the Comptroller of the Currency (OCC) has confirmed that national banks can engage in crypto trading services, allowing them to facilitate "riskless principal" transactions [2][3] Regulatory Developments - The OCC's guidance aims to integrate crypto activities into the regulated banking system, encouraging banks to participate actively in crypto trading [4] - Experts suggest that banks must enter the crypto trading space now to avoid losing market share to competitors [4] Market Implications - The entry of banks into crypto trading is expected to significantly impact the market, as they will likely absorb a substantial portion of retail order flow [5] - Stand-alone crypto exchanges without banking licenses may face increased competitive pressure, especially in the entry-level consumer segment [5] Current Activities of Banks - Several large U.S. banks have begun preparations for crypto execution and distribution, often through intermediaries [5] - JPMorgan has developed blockchain-based settlement infrastructure and offers crypto-linked products, while Goldman Sachs has restarted its crypto trading desk [6] - BNY Mellon has launched digital asset custody services for select institutional clients, integrating crypto into its existing services [6] Partnerships and Future Directions - Banks, including Fidelity-affiliated entities and regional lenders, are forming partnerships with crypto market makers and exchanges to enhance execution and custody services [7] - These arrangements may evolve into direct brokerage models under the OCC's new interpretation [7]

Core Insights - Scilex Holding Company announced the confirmed claim process for the Dream Bowl 2026 Meme Coins, set to begin on December 24, 2025, for eligible shareholders [1][2]. Company Overview - Scilex is focused on acquiring, developing, and commercializing non-opioid pain management products aimed at treating acute and chronic pain, as well as neurodegenerative and cardiometabolic diseases [4][6]. - The company targets high unmet needs in the market with its non-opioid therapies, aiming to improve patient outcomes [4]. Commercial Products - Scilex's commercial products include: - ZTlido® (lidocaine topical system) 1.8%, approved by the FDA for neuropathic pain relief [4]. - ELYXYB®, the only FDA-approved ready-to-use oral solution for acute migraine treatment in adults [4]. - Gloperba®, the first liquid oral version of colchicine for the prophylaxis of painful gout flares in adults [4]. Product Candidates - Scilex has three product candidates in development: - SP-102 (SEMDEXA), a viscous gel formulation for treating lumbosacral radicular pain, which has completed a Phase 3 study and received Fast Track status from the FDA [5]. - SP-103, a next-generation lidocaine topical system for acute pain, which has recently completed a Phase 2 trial and also received Fast Track status from the FDA [5]. - SP-104, a low-dose delayed-release naltrexone hydrochloride for fibromyalgia treatment [5].

Core Insights - BC Card has completed a stablecoin payment pilot allowing foreign users to pay local merchants in South Korea using stablecoins [1] Company Overview - BC Card is one of the largest payment companies in South Korea, reportedly handling over 20% of the country's card transactions [1] - The company covers approximately 3.4 million local merchants [1] Pilot Program Details - The pilot was conducted in collaboration with blockchain company Wavebridge, wallet service provider Aaron Group, and cross-border remittance agency Global Money Express [1] - Foreign users can exchange stablecoins from overseas wallets into digital prepaid cards for consumption [1]

RT BSCN (@BSCNews)📣 Most important @BNBChain news & updates...It's been a massive period for $BNB, despite a vicious crypto market.We're talking...- Dramatic onchain growth- New integrations & partnerships- Prediction market news... and much more.Catch up now ⬇️https://t.co/zrzxb6NXKe ...

Model Context Protocols (MCPs) Overview - Two distinct Model Context Protocols (MCPs) serve different functions within the BNB Chain ecosystem [1] - Knowledge-Based MCP acts as a read-only resource for understanding the BNB Chain ecosystem [1] - Chain Interaction MCP provides tools for direct interaction with the BNB Chain [1] Knowledge-Based MCP - Knowledge-Based MCP is exemplified by ask-ai-mcp [1] - It allows for quick comprehension of the BNB Chain ecosystem with zero risk [1] - Endpoint for Knowledge-Based MCP is provided [1] Chain Interaction MCP - Chain Interaction MCP is exemplified by bnbchain-mcp [1] - It offers 40+ tools for interacting directly with the chain [1] - Chain Interaction MCP can be run using npx (bnb-chain/mcp) or self-hosted [1] Use Cases - Addressing questions about proposal BEP-641 and feature Y [2] - Operations related to blocks, transactions, and wallets [3] - Greenfield operations [3] - Automation and testing [3]

RT Token Terminal 📊 (@tokenterminal)🇫🇷🏦 @SocieteGenerale, a French multinational bank & financial services company founded in 1864, is tokenizing both USD and EUR on @solana.Interesting that they chose to do that on a meme coin chain. https://t.co/7QweY2Z0hO ...

Core Viewpoint - Shanghai Commercial Bank (SCB) is enhancing its digital finance initiatives by partnering with HashKey Exchange to launch a co-branded credit card aimed at investors in the digital asset space, marking a significant step in the bank's digital transformation strategy [1][5]. Company Overview - SCB, one of Hong Kong's oldest banks, celebrated its 75th anniversary this year and operates over 40 branches in Hong Kong, with additional offices in major cities including New York, San Francisco, Los Angeles, London, Shanghai, and Shenzhen [4]. Partnership Details - The credit card will be the first of its kind in Asia, representing a collaboration between a traditional lender and a digital trading platform [3]. - This initiative is part of a broader strategy to explore additional products, services, and risk-management frameworks that integrate traditional finance with digital assets [4]. Investment and Digital Transformation - SCB plans to invest HK$1.6 billion (approximately US$206 million) over the next five years to enhance its digital capabilities [5]. - The bank's digital transformation aligns with the Hong Kong Monetary Authority's five-year fintech strategy, which encourages the adoption of artificial intelligence and blockchain technologies [6]. Implementation Timeline - The investment will be deployed gradually from 2026 to 2030, starting with a revamped mobile app set to launch in the first half of next year, followed by upgrades to other digital platforms and fintech capabilities for corporate and wealth management clients [7].

Eric Trump: DeFi is tearing apart the fee system that sustains the banks' "skyscrapers".During an interview on the "Money Talks" podcast (Nov 27), Eric Trump discussed how using Bitcoin as loan collateral is disrupting traditional finance. He highlighted the key benefit: a user with $1 million in Bitcoin can get a loan immediately, avoiding the banks' 120-day KYC and paperwork.Trump noted that traditional banks like JPMorgan oppose this because they lose fees. He added that blockchain ensures stable collate ...