Group 1 - Phemex has completed the full integration of Ondo Finance's tokenized equity suite, positioning itself as a leader in the Real-World Asset (RWA) revolution [1] - The platform now offers its 10 million global users seamless access to a diverse selection of 14 traditional blue-chip assets in tokenized form, including major companies like NVIDIA, Tesla, Apple, and Amazon [1] - This strategic initiative emphasizes Phemex's commitment to accelerating the convergence of Traditional Finance (TradFi) and Web3, enhancing capital efficiency and portfolio diversification for users [1] Group 2 - Phemex, founded in 2019, is a user-centric cryptocurrency platform trusted by over 10 million traders worldwide, offering spot and derivatives trading, copy trading, and asset management products [1] - The platform aims to provide reliable tools, inclusive access, and evolving opportunities for traders at all levels, prioritizing user experience, transparency, and innovation [1]

In Washington, stablecoins have become the center of gravity. The bipartisan Genius Act passed easily. Regulators are openly encouraging dollar-backed token infrastructure. Even within crypto, Bitcoin is no longer the sole focus. Tokenization, blockchain-powered derivatives and cross-border stablecoin payments are emerging as credible use cases — none of which require Bitcoin to function.A clear signal came in November. Jack Dorsey — long one of Bitcoin’s most vocal corporate evangelists — announced his Cas ...

SG-FORGE CEO Jean-Marc Stenger framed the expansion as part of a broader multi-chain strategy: "The successful launch of EUR CoinVertible on the XRP Ledger constitutes a new step that reinforces our commitment to offering next-generation compliant crypto-assets, promoting transparency, security and scalability."The XRPL launch follows a SWIFT pilot conducted earlier in 2026, where EURCV was tested for the exchange and settlement of tokenized bonds alongside major banks including BNP Paribas and Intesa Sanpa ...

Core Insights - Coinbase CEO Brian Armstrong has downplayed concerns regarding quantum computing's potential to compromise blockchain encryption, labeling it a "very solvable" issue [5][21] - The company has established an advisory board to evaluate the implications of quantum computing and prepare for future threats [4][3] - Industry leaders, including Vitalik Buterin, emphasize the urgency of implementing quantum-resistant technology to ensure long-term cryptographic safety for networks like Ethereum [2][3] Company Developments - Coinbase is actively engaging with major blockchains to strategize upgrades to post-quantum cryptography [4] - The advisory board will produce research on quantum computing's impact on blockchain and provide recommendations to organizations [3] - Coinbase's proactive stance positions it as a leader in addressing potential quantum threats in the cryptocurrency space [4][5] Industry Trends - The emergence of quantum computing poses significant challenges for blockchain security, prompting industry figures to advocate for immediate action [3][2] - The formation of advisory boards by companies like Coinbase reflects a growing recognition of the need to prepare for technological advancements that could disrupt current encryption methods [4][3] - The cryptocurrency sector is increasingly focused on ensuring the integrity of digital assets in the face of evolving technological threats [5][3]

Core Insights - The SEC has allowed broker-dealers to apply a 2% haircut to payment stablecoins, significantly reducing the previous 100% capital penalty [1][2][3] - This change aligns compliant stablecoins with traditional money market funds, facilitating broader access to on-chain markets [3] - The new regulatory framework under the GENIUS Act mandates strict reserve requirements for stablecoin issuers, enhancing compliance and stability [4][5] Group 1: Regulatory Changes - The SEC's guidance marks a pivotal shift in how stablecoins are treated in traditional finance, moving from a punitive 100% haircut to a more manageable 2% [1][2] - This adjustment is expected to make institutional crypto trading more viable for traditional financial institutions [2][3] Group 2: Impact on Market Participants - The reduced capital penalty is anticipated to drive substantial adoption of US-regulated stablecoins like Circle's USDC within the $6 trillion financial sector [6] - SEC Commissioner Hester Peirce emphasized that the stringent reserve requirements for stablecoins will support their essential role in blockchain transactions [5]

The Trumps have placed USD1 at the center of their decentralized finance offerings through the World Liberty Financial platform. World Liberty Financial has also applied for a U.S. national banking license to issue and custody the stablecoin.The company’s World Liberty Financial USD (USD1) stablecoin is now the fifth-largest by market capitalization, valued at over $5 billion, and surpassing PayPal USD (CRYPTO: PYUSD ) and Ripple USD (CRYPTO: RLUSD ).Trump’s remarks come at a time when global investors are ...

Core Insights - The outflow of approximately $8.5 billion from US-listed spot Bitcoin exchange-traded funds since October 10 indicates a significant decline in institutional interest in Bitcoin [1][17] - Bitcoin's price has dropped over 40% despite other asset classes like stocks and precious metals gaining traction, highlighting a unique market dynamic [1][17] - The shift in market dynamics has seen American retail and institutional capital become the marginal price-setter, replacing retail traders on offshore exchanges [2][17] Market Dynamics - Futures exposure on the Chicago Mercantile Exchange has decreased by about two-thirds from its late-2024 peak, now standing at roughly $8 billion [1][17] - The demand for borrowed exposure on the CME is at its lowest since mid-2023, indicating a lack of leverage and fewer forced buyers during price increases [7][17] - The institutional wave has been characterized by mechanical trading strategies, such as basis trades, which have lost their rationale as spreads compressed below Treasury yields [8][9] Structural Issues - The institutionalization of Bitcoin has not eliminated volatility but has instead reallocated it, concentrating risk in ways that become apparent during market shifts [12][18] - Many ETF investors are currently below their average cost basis, leading to selling pressure during price bounces as they seek to break even [13][18] - The introduction of products like BlackRock's IBIT has created localized stabilization in Bitcoin prices, but these structures can exaggerate price movements when significant catalysts occur [14][18] Market Sentiment - The market has lost its ability to respond positively to good news, as evidenced by the quick fade of enthusiasm following announcements like BlackRock's product tied to Uniswap [18] - The breakdown of market structure on October 10 has led to unprecedented drawdowns, surpassing those seen in previous downturns [17][18]

Core Viewpoint - The cryptocurrency industry has deviated from its original cypherpunk ethos, shifting towards a narrative focused on "price appreciation" [1] Group 1: Industry Trends - Stablecoins have become a major application in the crypto space, but they reinforce the dominance of the US dollar, diverging from the early vision of creating a decentralized parallel system [1] - The future of the cryptocurrency industry should aim to return to its cypherpunk spirit rather than fully integrating into Wall Street [1] Group 2: Market Dynamics - Despite Ethereum and other public chains having over $120 billion locked in, the actual adoption of decentralized applications remains limited [1] - The scale of enterprise blockchain pilot projects is significantly lower than the overall economic activities in traditional finance [1]

Group 1 - Coinbase CEO Brian Armstrong stated that Coinbase holds over 80% of the Bitcoin and Ethereum ETF assets in the U.S. [1] - In 2025, Coinbase is projected to record a peak net inflow of ETF funds amounting to $31 billion [1] - Coinbase serves as a custody partner for several large financial institutions and government ETF products, emphasizing its commitment to security through ongoing penetration testing by top cryptography experts [1]

Core Insights - The Trump family's crypto project, World Liberty Financial (WLFI), is launching a tokenization initiative for a luxury resort in the Maldives, addressing liquidity issues associated with long real estate development cycles [1] Group 1: Project Overview - WLFI is collaborating with Saudi real estate developer DarGlobal to construct 100 beachfront and overwater villas in the Maldives, with a total investment of approximately $300 million, expected to open in 2030 [1] - The token issuance will be targeted at qualified investors, offering fixed income and loan revenue sources, with potential future profit-sharing from project sales [1] Group 2: Stakeholder Engagement - DarGlobal will retain at least 30% equity in the project to strengthen alignment of interests [1] - The token issuance will be conducted in partnership with Securitize [1]