RT Coinbase Markets 🛡️ (@CoinbaseMarkets)December just got major for altcoin traders.December 5: 24/7 trading goes live for all altcoin monthly futures from Coinbase DerivativesDecember 12: New US perpetual-style futures launch for all altcoinsAssets launching:→ Shiba Inu $SHIB→ Avalanche $AVA→ Bitcoin Cash $BCH→ Cardano $ADA→ Chainlink $LINK→ Dogecoin $DOGE→ Hedera $HBAR→ Litecoin $LTC→ Polkadot $DOT→ SUI $SUI→ Stellar $XLMThese futures contracts are offered by Coinbase Derivatives and will be available to ...

Mt. Gox transferred 10,608 BTC worth approximately $953 million on Nov. 18, marking the first large movement from the defunct exchange since March 2025. The transfer occurred as Bitcoin briefly dropped below $90,000. The transaction is split into two parts: 10,422.64 BTC moved to an unmarked address, while 185.52 BTC transferred to a Mt. Gox hot wallet before routing through an intermediate address to a wallet labeled as Kraken, according to Arkham Intelligence blockchain data. The transfer executed at ...

Core Viewpoint - The recent surge in Bitcoin Cash (BCH) is driven by technical factors and increased derivatives trading activity, with a focus on key price thresholds for traders [2][3][9] Group 1: Market Dynamics - Bitcoin Cash has seen a significant increase in active addresses, reaching an all-time high, indicating positive adoption and activity on its blockchain [5] - The open interest in BCH derivatives has surged to over $380 million, driven by large investors (whales) making bullish bets [6] - A substantial amount of long derivatives bets have been placed, with over half a billion dollars in short bets liquidated recently, highlighting the current bullish sentiment [7] Group 2: Price Levels and Future Outlook - Traders are eyeing the $550 level as a critical threshold, with a potential upside target of $820 per token, representing a 50% increase from current levels [2] - If the current bullish trends continue, momentum could push BCH towards the $820 psychological threshold, but a reversal could lead to significant downside risks [8]

Core Points - Mt. Gox's rehabilitation trustee has postponed creditor repayments to October 31, 2026, due to many creditors not completing necessary procedures [1] - The Tokyo court approved the extension, which is part of a lengthy restitution process for the defunct exchange [1][4] - Approximately 19,500 creditors have received repayments, while around 24,000 creditors are estimated to be involved in the recovery of roughly $9 billion in Bitcoin and Bitcoin Cash [2][4] Summary by Sections Repayment Process - The repayment process has been significantly delayed, with multiple extensions since Mt. Gox's collapse in 2014 [4] - The latest extension was announced in September 2023, moving the deadline from October 2023 to October 2024 [5] - The rehabilitation trustee indicated that most base and early repayments for verified creditors have been completed, but many remain unpaid [2] Financial Status - Mt. Gox currently holds approximately 34,689 BTC, valued at nearly $4 billion at current prices [2] - The efforts to recover lost funds began in 2021 when the Tokyo District Court approved a civil rehabilitation plan [4] Market Impact - The announcement of repayment timelines has previously triggered market reactions, including a selloff in Bitcoin prices [6]

Core Insights - The Mt. Gox saga has resurfaced as blockchain analysts observe new activity in the exchange's wallets for the first time in seven months, coinciding with an impending repayment deadline [1] - Mt. Gox holds approximately 34,000 Bitcoin, valued at over $3.88 billion, that must be repaid to creditors by October 31, 2025 [2][3] - Concerns are rising regarding potential market sell-pressure as the repayment deadline approaches, especially if the trustee does not secure another extension [3][4] Market Dynamics - The repayment process began in July 2024 after nearly a decade of legal proceedings, marking a significant milestone for creditors [5] - Analysts express concerns that the current market may not absorb the 34,000 Bitcoins as effectively as in previous instances, where over-the-counter (OTC) demand played a crucial role [6] - The current market environment is characterized by weakening liquidity and declining institutional demand, which could exacerbate volatility if the Bitcoins enter public markets directly [6][7] Corporate Strategies - Strive (ASST) has announced plans to adopt a Bitcoin purchasing strategy similar to MicroStrategy, intending to acquire Bitcoin as a corporate treasury asset starting in May 2025 [8]

Core Insights - European retail banks are increasingly embracing crypto trading, a shift from their previous reluctance to engage with cryptocurrencies [1][7] - Major players in the European banking sector, including BBVA and Santander, are now offering crypto trading services to their customers [3][4][7] Group 1: Historical Context - Prior to 2017, only private European banks catered to wealthy clients with crypto services, but Swissquote opened retail participation in December 2017 [2] - Switzerland has been a leader in this space, with banks like Dukascopy and Sygnum joining the crypto market in the late 2010s [2] Group 2: Recent Developments - From 2020 onwards, more banks in Italy, Germany, and Estonia began to offer retail crypto trading, although initially limited to smaller banks and neobanks like Revolut and N26 [3] - BBVA launched trading and custody services for Bitcoin and Ether in July 2023, prompting other major banks to follow suit [3] Group 3: Major Players and Services - Santander launched crypto trading through its subsidiary Openbank, initially in Germany and expanding to Spain [4] - Deutsche Bank is partnering with Bitpanda to develop a digital assets custody service expected to launch next year [4] Group 4: Service Models - Retail banks can either build their own crypto exchange or utilize white label solutions from providers like AMINA and Sygnum [5][6] - Traditional crypto exchanges are also entering the white label market, with N26 and Raiffeisenlandesbank using Bitpanda's infrastructure [6]

Market Overview - The cryptocurrency market is recovering after a decline, with Bitcoin rebounding to a seven-week high of $118,481 after previously hitting an all-time high of $124,496 in July and losing nearly 15% of its gains in September [1][4][10] - Market volatility has been influenced by concerns over a shrinking labor market and a slowing economy, but this is expected to be temporary, with Bitcoin anticipated to resume its rally as economic clarity improves [2] Bitcoin Growth Potential - Experts suggest that Bitcoin could reach between $160,000 and $200,000 this year if demand remains strong, supported by a recent partial government shutdown that may inject additional liquidity into the markets [5] - The Federal Reserve's recent interest rate cut of 25 basis points and indications of further cuts are expected to positively impact Bitcoin's growth [6] Crypto-Centric Stocks - **PayPal Holdings (PYPL)**: Expected earnings growth rate of 12.5% for the current year, with a Zacks Consensus Estimate improvement of 0.4% over the last 60 days, currently holding a Zacks Rank 2 [8][10] - **Robinhood Markets, Inc. (HOOD)**: Anticipated earnings growth rate of 47.7% for the current year, with a Zacks Consensus Estimate increase of 5.9% in the past 60 days, currently holding a Zacks Rank 1 [10] - **Interactive Brokers Group, Inc. (IBKR)**: Expected earnings growth rate of 11.4% for the current year, with a Zacks Consensus Estimate improvement of 2.1% over the last 60 days, currently holding a Zacks Rank 2 [12] - **Visa Inc. (V)**: Expected earnings growth rate of 13.7% for the current year, with a Zacks Consensus Estimate increase of 0.1% over the last 60 days, currently holding a Zacks Rank 2 [14]

Core Insights - SBI Crypto, a subsidiary of SBI Group, suffered a $21 million hack attributed to suspected North Korean hackers, adding to a series of cyberattacks linked to North Korea's state-backed cyber units [1][5][6] Group 1: Incident Details - The breach was first identified by blockchain analyst ZachXBT, who noted suspicious outflows from SBI Crypto wallet addresses on September 24, 2025 [2] - Approximately $21 million worth of various cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Dogecoin, and Bitcoin Cash, was drained from company-linked addresses [2][3] - The stolen funds were funneled through five instant exchanges before being deposited into Tornado Cash, a crypto mixer associated with laundering operations [3][4] Group 2: Context and Implications - The tactics used in the SBI Crypto theft resemble previous intrusions by North Korea's Lazarus Group, indicating a pattern in their cyber operations [3] - Despite the significant theft, SBI has not publicly disclosed the incident, raising concerns about transparency in the industry [4] - The use of Tornado Cash in the laundering process has attracted renewed scrutiny, especially after the U.S. Treasury sanctioned the mixer in 2022 for processing illicit funds [4][5] Group 3: Broader Trends - North Korean hackers have stolen over $1.3 billion across 47 incidents in 2024, with an estimated $2.2 billion stolen in the first half of 2025, highlighting the increasing sophistication and frequency of these cyberattacks [5][6] - Investigations reveal that North Korean cyber campaigns extend beyond hacking to include fraudulent employment schemes, indicating a broader strategy in their operations [7]

Regulatory Landscape & ETF Approvals - SEC approved generic listing standards, accelerating spot crypto ETF approval process [5][6] - These standards allow exchanges to list ETPs holding spot commodities without individual SEC approval, given criteria are met [6][7] - SEC considers almost every crypto a commodity, paving the way for altcoin ETFs [6] - Bloomberg analysts anticipate a wave of spot crypto ETP launches [8] - SEC is exploring an innovation exemption framework for DeFi platforms [11] - CFTC launched an initiative to enable trading of spot crypto asset contracts on registered TradFi futures exchanges [11] Altcoin ETF Market & Potential - Grayscale's Digital Large Cap Fund (renamed Coindesk Crypto 5 ETF) was approved, containing BTC, ETH, XRP, SOL, and ADA [9] - Rex Osprey listed ETFs for XRP and Dogecoin, with the XRP ETF having a strong opening day [10] - Potentially 12 altcoins meet SEC's minimum listing criteria due to futures listings on Coinbase, including LTC, BCH, DOGE, DOT, SHIB, AVAX, LINK, XLM, SOL, HBAR, ADA, and XRP [10] - There have been 91 altcoin ETF applications, with 11 already approved [10] Timeline & Impact - New ETF approval process (S1 form) has a 75-day approval window, potentially leading to approvals around December 1st [11] - Many pending altcoin ETFs have approval deadlines in mid to late October [11] - Short-term impact of altcoin ETFs is uncertain, depending on attention drawn to the altcoins [11] - Long-term impact depends on inflows these altcoin ETFs receive [11]

Industry Overview - The lines between traditional banks, fintechs, and cryptocurrency companies are increasingly blurred, with new stablecoin legislation allowing crypto companies to offer bank-like services [1] - Banks and payment providers are racing to integrate cryptocurrencies and blockchain technology into their operations [1] Company Analysis: PayPal - PayPal launched cryptocurrency services in 2020 and has steadily integrated crypto and blockchain into its operations [2] - PayPal has over 430 million active customer and merchant accounts, providing a significant advantage in the crypto space [4] - Despite the surge in cryptocurrency prices, PayPal's stock is down over 20% year to date, while Coinbase is up over 30% and Bitcoin is up 25% [4] - PayPal has faced serious competition, regulatory challenges, and wider economic uncertainty [5] - Key milestones for PayPal in the crypto sector include launching services for Bitcoin, Ethereum, Bitcoin Cash, and Litecoin in October 2020, introducing Checkout with Crypto in March 2021, launching its own stablecoin PayPal USD in August 2023, and planning to launch PayPal World in July 2025 [7] - PayPal's extensive network, user base, and infrastructure may provide a competitive edge as crypto projects need to deliver results [8]