SINCE THEN, IT HAS EASED A LITTLE BIT. KATIE. KATIE: AND AMID ALL THIS VOLATILITY, J. P. MORGAN IS CONSIDERING OFFERING CRYPTO TRADING TO ITS INSTITUTIONAL CLIENTS AS LARGE BANKS DEEPEN THEIR INVOLVEMENT IN THIS ASSET CLASS. FOR MORE, WE'RE JOINED BY THE REPORTER ON DIGITAL ASSETS AND PAYMENTS FOR BLOOMBERG. >> LIVE FROM NEW YORK, I'M SCARLET FU. KATIE: WELCOME TO "BLOOMBERG CRYPTO," SHAPING THE WORLD OF DECENTRALIZED FINANCE. SCARLET: BITCOIN HAVING ITS WORST DAY IN ALMOST A WEEK WEIGHS CLOSE OUT 2025, A Y ...

Consumer Confidence and Economic Outlook - Consumer confidence data for December came in at 89.1%, below the expected 91, but higher than November's reading, which was the second lowest since the pandemic [6][8] - The current conditions index has significantly declined, indicating consumers are feeling worse about their financial situation, with a notable drop into negative territory for the first time in four years [11][12] - A slowdown in economic growth is expected going into 2026, influenced by high inflation and tariffs impacting consumer prices [14][19] Restaurant Industry Trends - The restaurant industry is experiencing a shift, with a 10% move away from dining out towards grocery shopping due to high prices, particularly in the QSR burger segment, which has seen over 50% price increases since 2019 [44][45] - Domino's Pizza is identified as a top pick for 2026, having only increased prices by about 27% since 2019, making it more affordable compared to QSR burger chains [47][48] - The value meal strategy is becoming crucial as QSR chains like McDonald's aim to regain lost customers by suppressing check growth to align with grocery inflation [51] Venture Capital and AI Investment - In 2025, 40% of deals and 65% of capital invested were in AI companies, indicating a strong focus on AI across various sectors, including life sciences and fintech [79][80] - The investment environment for AI companies is expected to remain robust in 2026, with a quality gap emerging where only companies meeting high growth benchmarks will attract significant funding [82][83] - The IPO landscape is anticipated to be favorable for sectors like crypto and AI, with companies like Circle benefiting from regulatory support [84][86] Tax Implications for Consumers - The child tax credit has been increased by $200, and a new $6,000 deduction for seniors will be available, providing some tax relief for families in 2026 [21][25] - Tariffs are estimated to cost US households an average of $1,100 in 2025, expected to rise to $1,400 in 2026, impacting consumer spending and sentiment [27][29] - Despite tax cuts, the burden of tariffs may lead consumers to feel worse off, as the perception of affordability is affected by rising prices [40][42] Future of Circle and Economic Infrastructure - Circle's CEO envisions the company playing a significant role in the future economic infrastructure, focusing on AI-driven productivity gains and the frictionless exchange of value [70][72] - The company aims to be foundational to a new economic system that integrates AI and enhances global economic prosperity through innovative financial solutions [75][76]

XRP spot ETFs in the U.S. quietly gathered around $1.2 Bn in assets in just a few weeks, even as crypto prices softened and hype around Bitcoin and Ethereum ETFs faded. XRP itself has struggled after recent highs, but the steady ETF buying tells a different story. This comes as regulators open the door to more crypto ETFs and institutions seek new ways to gain crypto exposure without trading on exchanges. Why Are XRP ETFs Pulling Cash When Bitcoin and Ethereum Slow Down? First, a quick refresher. An ET ...

周二，比特币短线跌破8.7万美元，日内跌超3%，以太坊日内跌近5%。加密货币概念股走弱，Bitmine Immersion Technologies(BMNR.US)跌超6.8%，Circle(CRCL.US)跌5.9%，Robinhood(HOOD.US)跌超 4%，Strategy(MSTR.US)、Coinbase(COIN.US)跌超3%。 ...

Japan is quietly becoming one of the most important regions in the long-term XRP story. Ripple and SBI Holdings plan to launch RLUSD—Ripple's USD-backed stablecoin—in Japan by Q1 2026 through SBI VC Trade, pending regulatory approval. The project is being built through licensed trust banks and exchanges under Japan's Payment Services Act.That level of capital would reshape demand and strengthen the case for XRP hitting $5. It would also position XRP as the only crypto asset with an ETF tied to a fully regul ...

Core Viewpoint - Bitcoin prices are experiencing significant volatility, currently down 30% from their highs, and there is uncertainty regarding future interest rate cuts which may impact market sentiment [1][2]. Company Insights - Coinbase aims to become an "everything exchange," allowing users to trade public stocks, cryptocurrencies, and prediction markets on a single platform, competing with Robinhood, which has a brokerage background [3][4]. - Coinbase has a competitive advantage with over 100 million users and a crypto-friendly approach, while traditional financial players are also entering the crypto space with substantial resources [6][7]. Industry Trends - The integration of artificial intelligence and tokenization is seen as pivotal for the future of finance, with companies vying for dominance in these areas [5][17]. - The competition among financial firms is expected to benefit individual investors through lower prices and improved market access [8]. Market Performance - Bitcoin has shown a compound annual growth rate of 70% over the last decade, despite recent disappointments regarding price expectations [10]. - The volatility of Bitcoin has been decreasing, which may lead to smaller drawdowns compared to historical trends, suggesting a more stable price environment moving forward [11][15]. Future Outlook - The potential for Bitcoin and cryptocurrencies to serve as a defensive asset on corporate balance sheets is highlighted, with firms likely to invest in crypto to protect purchasing power [18][19]. - The lack of regulatory clarity remains a concern, with no significant legislative developments on the horizon that could impact the market [16].

Core Insights - Bitcoin remains range-bound with support at $85,000 and resistance at $93,000, marking its weakest year-end performance in seven years as liquidity thins and traders adopt a cautious stance [2][4] - A significant expiration of Bitcoin options is anticipated, with approximately 300,000 contracts worth $23.7 billion set to expire, representing over 50% of Deribit's total open interest [2][3] - Year-end tax-loss harvesting may increase short-term volatility in the crypto market, as investors can realize losses and re-establish positions without restrictions [4] Market Dynamics - Bitcoin's perpetual open interest has decreased by $3 billion, while Ethereum's has dropped by $2 billion, indicating reduced leverage and potential for sharp market movements [1] - Open interest in $85,000 puts has decreased from 15,000 to around 12,000 contracts, while $100,000 calls remain stable at approximately 17,000 contracts, suggesting some optimism for a potential rally [3] - On-chain data indicates weakening buying pressure, with a decline in active addresses and buy-volume divergence in Binance futures markets, reminiscent of the 2021 cycle structure [5][6] ETF and Investment Trends - Bitcoin ETFs have experienced significant outflows totaling $461.8 million over three days, with BlackRock and Fidelity leading the withdrawals, reflecting growing risk-off sentiment as the year ends [6]

Core Insights - Ethereum has made significant progress in gaining acceptance among centralized institutions in 2025, a year marked by major regulatory changes in the crypto industry [2][3] - The network's builders have historically focused on technical achievements and decentralization, but this year has seen a shift towards broader economic and political engagement [1][2] Group 1: Institutional Adoption - Centralized institutions are urgently expanding their businesses onto blockchain networks, with a notable preference for Ethereum's multi-layer network model [5][6] - Major financial players, including Fidelity and SWIFT, have chosen Ethereum for their tokenization projects, indicating a strong institutional validation of the network [6][7] - The trend of adopting Ethereum has occurred organically, driven by its perceived suitability for business rather than through aggressive marketing efforts [5][6] Group 2: Global Reach - Financial institutions from various regions, including Upbit in South Korea, Ant Group in China, and Amundi in Europe, have engaged in tokenization projects using Ethereum [7] - The success of Ethereum in institutional settings is exemplified by the establishment of layer-2 networks, such as Base, which have gained traction in Wall Street circles [6][7]

Market Overview - Total cryptocurrency market capitalization has declined by 2.4% over the past 24 hours, now standing at $3.06 trillion [1][7] - 24-hour trading volume remains elevated at $109.3 billion, despite the pullback in prices [1] Performance of Major Cryptocurrencies - Bitcoin (BTC) is down 2.4%, currently trading at $87,780, showing relative resilience compared to major altcoins [3][7] - Ethereum (ETH) has slipped 2.6%, trading at $2,968, while BNB is down 1.6% to $851.51 [3] - XRP has fallen 1.7% to $1.90, and Solana (SOL) recorded a 3.0% drop to $124.77 [4] - Dogecoin (DOGE) is down 1.5% to $0.1308 [4] Notable Gainers and Losers - RaveDAO leads the gainers, surging 37.0% to $0.6357, followed by Impossible Cloud Network with a 32.9% increase to $0.496 [5] - Midnight (NIGHT) stands out on the downside, plunging 23.2% to $0.0777, marking it as one of the weakest performers [4][5] Market Sentiment and Trends - Analysts indicate that the crash on October 10 marked a decisive bearish shift, wiping out approximately $1.3 trillion in market value [6][7] - The Fear & Greed Index currently stands at 29, indicating a sentiment of fear in the market [7] - US BTC spot ETFs experienced $142.19 million in net outflows, while US spot Ether ETFs saw $84.59 million in inflows, primarily driven by Grayscale funds [7]

Bitget Wallet announced on Tuesday it has expanded its onchain derivatives offering through a full integration with Hyperliquid, the largest decentralized perpetual exchange by trading volume. The upgrade introduces lower fees, broader asset coverage, and a professional-grade trading interface within a self-custodial wallet, as decentralized derivatives continue to gain global adoption. Broader Market Access The integration updates Bitget Wallet’s perpetual trading product, positioning it to serve both ...