Cryptopolitan

Valereum Plc, a UK-based fintech company that specializes in regulated tokenization platforms, digital asset infrastructure, and payments technologies, has just announced it has secured a major investment partnership. 

The deal is structured as investment-grade asset-backed financing and is expected to yield $10.5 million annually to Valereum at a 5.25% coupon rate.

Valereum unveils $100M funding deal 

According to an official report from the company, the partnership has seen the involved parties, Valereum and Valereum QGP-SP, agree to a $200 million investment partnership. The partnership will not only strengthen Valereum’s liquidity and balance sheet but also turbocharge growth and expedite the pursuit of a NASDAQ/NYSE listing targeting H1 2026.

While Valereum Plc is to receive $200 million of investment-grade asset-backed financing, Valereum QGP-SP will receive a one-year option to acquire up to 49.9% of Valereum Plc, proportionate to the size and structure of capital committed.

The funding is expected to be used for various endeavors, including strengthening Valereum’s capital position, advancing its next-gen digital market infrastructure, building out its digital asset treasury (DAT), which will let the company strategically accumulate and manage digital assets, and enabling the pursuit of new acquisitions and partnerships to accelerate commercial development and diversify revenue streams.

The deal is also expected to broaden the company’s commercial footprint and unlock additional revenue opportunities while advancing its planned U.S. National Exchange listing to enhance global investor access and market visibility.

Gary Cottle, Group CEO of Valereum, talked about the funding plans: “This unprecedented agreement reflects the level of institutional confidence in our strategy of uniting traditional finance with regulated digital markets. It gives us access to major capital that will drive expansion, innovation, and growth across our entire ecosystem.”

DATs are at a critical point

Valereum’s $200 million funding seems to be specifically earmarked for a DAT strategy. However, there is heavy scrutiny on corporate treasury players. 

Saylor’s Strategy, the poster child of the DAT model, is under serious attack from index providers like MSCI and analysts at JPMorgan who say Strategy could see billions of dollars leave its stock if MSCI removes it from major equity indices, an outcome that could leave Strategy a wreck while rendering the DAT model obscure. 

The analysts, led by Nikolaos Panigirtzoglou, highlighted in a report how Strategy’s share price has fallen more than Bitcoin in recent months as its valuation premium has been sharply compressed. However, according to them, the more recent drop in the share price is most likely the result of growing concern about the company being dropped from key benchmark indices.

As things stand, Strategy is included in major indices such as the Nasdaq-100, MSCI USA, and MSCI World. According to JPMorgan analysts, roughly $9 billion of its $50 billion market value sits in passive funds that track these indices. 

Its inclusion in those indices has effectively helped Bitcoin exposure seep into both retail and institutional portfolios via passive investment vehicles; however, if removed from those indices, analysts say the flow would reverse. 

“If MicroStrategy is excluded from these indices, it could face considerable pressure on its valuation given that passive index-tracking funds represent a substantial share of its ownership,” the analysts wrote. “Outflows could amount to $2.8 billion if MicroStrategy gets excluded from MSCI indices and $8.8 billion from all other equity indices if other index providers choose to follow MSCI.”

MSCI’s decision will be made on January 15, 2026, and analysts believe the date will be “pivotal” for the MSTR stock. Talk of Strategy getting excluded began last month when MSCI revealed it is consulting on a proposal to exclude companies whose primary activity is Bitcoin or other digital asset treasury management if those holdings represent 50% or more of total assets. 

The announcement was made quietly on October 10, and now many users have linked it to the crash of BTC’s price from the October highs that had the price in the $120,000 range. Even now, some analysts are claiming it is all a coordinated attack on Strategy, the poster child of the DAT business model. 

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Tesla just posted yet another one of its worst months in Europe. Sales dropped to 6,964 units in October, crashing 48.5% from the same time last year, according to the European Automobile Manufacturers’ Association (ACEA).

That’s the company’s 10th straight monthly decline in the region. And while Tesla stumbled, the rest of the EV market sprinted ahead.

Total electric vehicle registrations across Europe (covering the UK and the European Free Trade Association) jumped by 32.9%. Even total car registrations across all types went up by 4.9%.

EVs now hold a 16.4% share of Europe’s auto market. Tesla? Just 1.6%, down from 2.4% a year ago. The newer Model Y couldn’t reverse the trend. Neither could the hype.

Blame it on surging Chinese competition or on Elon Musk’s fading reputation across European markets. Whatever it is, Tesla’s not winning here anymore.

Chinese rivals take the wheel as Tesla slumps

Year-to-date numbers make it worse. In the first 10 months of 2025, Tesla sold 180,688 units, which is a 29.6% fall from last year. That’s a lot of metal missing from European roads.

Meanwhile, China’s BYD exploded into the scene with a 207% sales surge, hitting 17,470 units sold in Europe.

Another Chinese brand, SAIC, wasn’t far behind, clocking in nearly 24,000 vehicles, up 46% year-on-year. Tesla’s dominance is slipping hard, and its rivals aren’t slowing down.

Despite all this, the stock didn’t care. On Monday, Tesla shares jumped nearly 7%. Why? Because Wall Street’s not buying it for the cars. It’s about the software, the AI, and the dream of autonomy.

Melius Research called Tesla a “must own,” not because of sales charts, but because it thinks self-driving is coming soon. Analyst Rob Wertheimer wrote:

“One of the reasons we called Tesla a ‘must own’ in our recent launch — despite all the obvious risks — is that the world is about to change, dramatically. Autonomy is coming very soon, and it will change everything about the driving ecosystem.”

The latest version of Tesla’s full self-driving software (FSD) is out in the US and a few other areas. But it’s still not available in Europe. That might change in February, though.

The Dutch RDW automotive regulator confirmed Tesla has a slot to demonstrate FSD next year. It hasn’t been approved yet. But if it passes, it could be a major shift for Tesla’s European play. That one greenlight could help stop the bleeding.

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VanEck has officially applied with the US Securities and Exchange Commission (SEC) to launch the first-ever spot BNB exchange-traded fund (ETF) in the US. It is expected to be listed on Nasdaq under the ticker VBNB.

If approved, VBNB will offer institutional and retail investors new access to the fifth-largest crypto coin by market cap, directly through traditional brokerage accounts. 

According to the amended S-1 registration statement filed with the SEC, the fund will maintain physical custody of BNB, avoiding cash-settled derivatives or futures contracts. 

VBNB investors will not be eligible to receive staking rewards immediately

The ETF is spot-based and aims to directly hold BNB tokens and track their price performance after deducting the trust’s operating expenses. The trust will evaluate its asset value daily based on the MarketVector BNB Index.

🚨 VanEck Files for a Spot BNB ETF

SEC filings show VanEck Digital Assets is launching the VanEck BNB ETF (VBNB) on Nasdaq.

The fund will hold BNB directly and track the MarketVector BNB Index, with no staking for now (future staking would use third-party providers with advance… pic.twitter.com/bBzyrv3tXS

— SWFT Blockchain (@SwftCoin) November 25, 2025

However, the ETF investors may not be eligible to receive staking rewards and additional income. Still, Vaneck has left an open chance. VanEck stated that if staking is conducted in the future, it will be done through a third-party staking service provider, and investors will be notified in advance. 

The trust is not regulated under the Investment Company Act of 1940 or the Commodity Futures Trading Commission (CFTC). Therefore, it carries higher investment risks, which may result in total loss. 

VanEck is a major global ETF provider and has a track record of pioneering crypto-based investment vehicles. As reported by Cryptopolitan, the firm already operates several spot and futures-based crypto ETFs, including those tracking Bitcoin, Ethereum, and Solana in the US and Europe.

This filing lands just as NYSE Arca approved DOGE and XRP spot ETFs. Both began trading on Monday. Altcoin ETFs are clearly moving into the mainstream. Now all eyes turn to the SEC’s next move and whether VBNB becomes the ETF that finally brings BNB into the US institutional spotlight.

US spot altcoin exchange-traded funds record daily inflows

US spot altcoin exchange-traded funds continue to see daily inflows amid a broader crypto market selloff that has pushed overall sentiment into fearful territory.

Spot Solana ETFs have attracted $843.81 million in total net assets since their launch, noting $57.99 million in inflows on Monday.  Bitwise’s BSOL led the day with $39.5 million, marking its third-largest daily inflow since going live and the most impressive since November 3.

Similarly, spot XRP ETFs have raised $628.82 million, attracting a whopping $164.04 million in inflows on the same day. Both Grayscale and Franklin Templeton ETF products pulled over $60 million each.

On the other side, Grayscale launched the first spot Dogecoin ETF (GDOG) . Its opening day saw zero net flows, though trading volume hit $1.41 million. Now, markets are closely watching to see whether DOGE can achieve the same level of consistency as Solana or XRP. Meanwhile, Bloomberg senior analyst Eric Balchunas suggested that trading volume for the DOGE-based fund could reach $11m.

The US spot Bitcoin ETFs experienced net outflows of $151.1 million on Monday. Spot Ethereum ETFs attracted net inflows of $96.6 million, but still underperformed against the XRP ETFs.

BNB steadies on Tuesday alongside other crypto coins

BNB has seen a small surge in the last 24 Hours. According to on-chain data, the coin is up 0.86%, shifting position to a new trend line in a fresh rally in the crypto market on Tuesday.

Top crypto coins performance. Source: Coinmarketcap

This has also been reflected in the other top coins, which seem to be steady if not gaining. BTC is steady at 0.39% decline, Ethereum is up 2.9%, XRP is  up 2,7%, and Solana is also up 2.4%. These gains have developed amidst US Fed rate cut expectations, a new catalyst to drive sharp bargain hunting.

According to data, the global market value of all cryptocurrencies is struggling to hold at $3 trillion. Meanwhile, BNB is trading at approximately $855.71.

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Nvidia pushed back hard on Tuesday after fresh doubts from Wall Street about whether Google’s AI chips could weaken its grip on the industry.

The company said its tech is still a full generation ahead, and it made sure to say it with a straight face.

Nvidia also reminded everyone that it continues supplying Google, even as talk grew that Meta might test Google’s tensor processing units for its data centers.

Nvidia’s stock fell 3% earlier in the day after that Meta report came out, but the company used its X post to calm markets and smack back at the idea that its lead was slipping.

Nvidia insisted its platform “runs every AI model and does it everywhere computing is done,” and said its Blackwell chips stay more flexible and powerful than Google’s ASIC-based TPUs, which only work for specific tasks inside one company.

Nvidia hits back with Blackwell advantages

Nvidia said its chips offer “greater performance, versatility, and fungibility than ASICs,” and it pointed out that its graphics processors now control more than 90% of the AI chip market, based on analyst data.

Google’s in-house TPUs have gained more attention lately, mostly because Blackwell chips are pricey, but Nvidia stressed that these custom chips are limited to Google’s own systems.

Google does not sell TPUs to outside buyers. It only uses them internally or rents them to customers on Google Cloud.

Google has tried to show the strength of its line by releasing Gemini 3 earlier this month. The model was trained fully on TPUs, not Nvidia GPUs.

A Google spokesperson said demand is rising for both its custom TPUs and for Nvidia’s GPUs, adding, “We are committed to supporting both, as we have for years.”

Nvidia CEO Jensen Huang also stepped in during an earnings call this month. He said Google continues to buy Nvidia’s GPUs and confirmed that Gemini can also run on Nvidia hardware.

Jensen said he has been in touch with Demis Hassabis, the DeepMind chief, who texted him that the industry’s “scaling laws” remain “intact.”

Scaling laws are the idea that larger data loads and more chips produce stronger AI models. Nvidia believes these laws will push demand even higher for its own chips and full systems across the industry.

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Avalanche (AVAX) has been in the spotlight, rolling out its significant “Granite” network upgrade while its price has taken a hit, dropping over 32% in November. This mix of technical progress and market turbulence highlights the volatility even in established projects. As investors look for more reliable growth opportunities, projects like GeeFi are gaining attention. 

GeeFi offers a complete, secure ecosystem designed for real-world utility and long-term value, making it a compelling alternative for savvy investors. Many analysts believe its token, GEE, could be the next 100x gem.

Avalanche’s Upgrade Struggles and the GeeFi Solution

Despite the promising Granite upgrade, which aims to deliver faster block times and biometric-style approvals, Avalanche’s price remains in a persistent downtrend, struggling to hold key support at the $13–$14 zone. This shows that even significant technological improvements aren’t enough to overcome bearish market sentiment. Investors are left wondering if the next upgrade will be enough to spark a real recovery.

GeeFi solves this by building its value on a foundation of tangible, everyday use cases rather than promises of future performance. Its ecosystem is designed to be a self-sustaining financial platform that works right now. This focus on real-world utility provides a stable base for growth, independent of market hype cycles. For investors tired of the “buy the news, sell the event” pattern, GeeFi offers a refreshing and reliable alternative.

Your Path to a Potential 40x Return: The GeeFi Presale

The most legendary stories in crypto often begin with investors who saw a project’s potential before anyone else. The GeeFi presale is one of those rare ground-floor opportunities. While established coins like AVAX face an uphill battle, GeeFi provides a clear path to substantial growth. Many industry experts are pointing to GEE as the next 100x gem.

The native GEE token operates on a deflationary model, meaning its total supply of 1,000,000,000 tokens is designed to shrink as the platform grows, creating scarcity that can boost long-term value. With the project having all the potential to become the next $2 project, a $1,000 investment at the current presale price of just $0.05 could turn into an incredible $40,000. The presale has already seen explosive success, selling over 6.1 million tokens and raising $300,000 almost immediately, reaching 50% of its Phase 1 target with remarkable speed. You can also earn a 5% bonus in GEE tokens by sharing your referral link.

Take Full Control with the GeeFi Wallet

At the heart of the GeeFi ecosystem is the GeeFi Wallet, a powerful tool designed to give you absolute control over your digital wealth. It is a non-custodial wallet, which means you, and only you, hold the private keys to your funds. This is the ultimate security feature in a volatile market, ensuring no exchange or third party can ever freeze your assets or deny you access.

The GeeFi Wallet is also built for the modern, multi-chain crypto user. It provides seamless support for over 14 different networks, including Avalanche, Bitcoin, Ethereum, and Solana. This allows you to manage all of your investments in one secure, user-friendly application. The wallet is available now on Android, with an iOS version coming soon.

An Ecosystem for Real-World Use

The GeeFi Team has been developing a comprehensive financial platform since 2023, with its public launch in 2024. Their vision extends far beyond just a wallet. The roadmap includes the GeeFi DEX, a decentralized exchange for secure and direct asset trading, and the GeeFi Card, which will let you spend your crypto as easily as cash. 

This commitment to continuous development of practical tools proves GeeFi is building a durable platform designed to thrive, offering a reliable path forward while other projects simply follow market trends.

Learn More

Website – geefi.io

Whitepaper – docs.geefi.io

Telegram Chat – @geefichat

Twitter/X – @GeeFiOfficial

Discord – discord.com/invite/geefi

Download App – geefi.io/download

Presale – hub.geefi.io/buy

CoinMarketCap – coinmarketcap.com/currencies/geefi/

Amazon said Monday it will put $50 billion into a new buildout of AI and high‑performance computing meant only for U.S. government work under the Trump administration, according to the company’s blog post.

The plan will start in 2026, when crews begin building new federal‑grade data centers with 1.3 gigawatts of power. That is the kind of load you normally see from hundreds of thousands of American homes, not a single project.

Amazon said the point is simple: the government wants stronger AI tools, and the company is preparing to deliver them through AWS.

The company said federal teams will get AWS AI tools, Anthropic’s Claude models, Nvidia chips, and Amazon’s Trainium processors. These will run inside cloud regions designed to meet strict federal rules.

Every part of this build sits inside a wider race among tech giants to secure long‑term contracts tied to AI systems.

Amazon expands government AI push with new federal infrastructure

Amazon said its move lines up with what others are already doing. Anthropic and Meta announced new AI data centers in the U.S. earlier this year.

Oracle, OpenAI, and SoftBank launched their Stargate joint venture in January, a plan built around a $500 billion U.S. infrastructure spend spread out over four years.

AWS said the new federal sites will let agencies build custom AI systems and clean up datasets while also helping teams “enhance workforce productivity,” a phrase the company used in its announcement.

Amazon said AWS already supports more than 11,000 government agencies, and that this investment is designed to increase that capacity.

AWS CEO Matt Garman said the $50 billion plan “removes the technology barriers that have held government back and further positions America to lead in the AI era.” Matt said it was about meeting the demand that federal agencies keep bringing forward, especially as the Trump administration pushes for stronger domestic AI systems.

Analysts have said Amazon leads cloud services overall, but has lost ground in AI‑driven cloud growth as Google and Oracle move faster.

Jacob Bourne, an analyst at Emarketer, said large infrastructure commitments are now required if Amazon wants to compete at the scale the AI market demands. Jacob said the company’s decision lines up with the direction of the federal technology market under Trump.

AWS said the move fits the White House AI Action Plan, which the Trump team kept as part of its domestic AI strategy. The company also noted prior milestones in its government cloud work. It launched GovCloud (US‑West) in 2011 for federal security rules.

In 2014, it put out the first air‑gapped commercial cloud for classified workloads. In 2017, it became the first provider cleared to run regions for unclassified, secret, and top‑secret data. Amazon said this new investment builds on those steps and expands what agencies can run inside AWS.

Amazon builds new Indiana campuses as AI spending explodes

Amazon raised its capital spending forecast in October, saying it now expects to spend $125 billion in 2025, up from $118 billion.

This came as tech firms like OpenAI, Alphabet, and Microsoft kept raising their own spending on compute needed for large AI models. Everyone in the market is buying hardware at levels nobody even talked about five years ago, and nobody is slowing down.

Amazon said Monday it is also putting $15 billion into new data center campuses in Indiana, adding to the $11 billion it announced last year in St. Joseph County. These new sites will bring 2.4 gigawatts of capacity and use the same architecture used in Project Rainier, which Amazon describes as the world’s biggest AI supercomputer.

Amazon said the Indiana plan will create more than 1,100 technical jobs in areas like operations, networking, engineering, and security. The company added that the expansion will support thousands of supply‑chain roles, including construction workers, electricians, and fiber‑installation teams.

The company said the federal build, the Indiana sites, and the overall capital push are all tied to the same demand: government agencies want more compute, and Amazon wants to be the one selling it during Trump’s second term.

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Poland’s competition regulator, the Office of Competition and Consumer Protection (UOKiK), has launched a new antitrust investigation into Apple, questioning whether its App Tracking Transparency (ATT) framework grants the company an unfair advantage in the mobile advertising market. 

The move was made public on Tuesday, November 25. The agency suspects that Apple’s App Tracking Transparency system, introduced in iOS 14.5 and subsequent versions, may limit third-party apps’ ability to collect user information for personalized ads while benefiting Apple’s own advertising platform. 

This was after UOKiK President Tomasz Chrostny noted in a statement that they anticipated the ATT policy might have misled users about the actual level of privacy protection they possess, and also enhanced Apple’s competitive advantage over independent publishers.

Such an act, according to Chrostny, could be deemed an abuse of a dominant market position. Therefore, he concluded that if these allegations are confirmed to be true, then Apple will have to face a fine of up to 10% of its annual income in Poland.

Respondingly, the company argued that the ATT framework was adapted to give clients control over who can track their online activities. Based on Apple’s argument, this strategy helps consumers safeguard their privacy.

UOKiK initiates a thorough investigation into Apple’s ATT policies 

In an emailed statement, Apple stated that it is not surprised to discover that the data tracking industry is persistent in its efforts to undermine its attempts to restore control of data to users. Considering the intense nature of the situation, the company noted that it may be forced to eliminate this feature due to increased pressure from the industry, which would ultimately harm European consumers.

Apple’s statement created tension in the industry. To address anxiety, authorities in the data tracking industry have outlined their intention to join forces with UOKiK to ensure the company continues to offer users this crucial privacy tool. 

To illustrate their commitment to uncovering the truth behind these claims, UOKiK disclosed that a combination of antitrust regulators in Germany, Italy, and Romania has thoroughly examined ATT policies. 

According to the agency, they cannot assume this situation as reporters from sources highlighted that a French authority fined the tech giant  150 million euros, which is equivalent to around $172.86 million, in March.

Meanwhile, recent reports have also noted that Poland is developing a new law aimed at taxing online platforms. The relevant authorities responsible for developing this law stated that their primary goal is to create a fairer environment for local businesses. The authorities adopted this decision after discovering that foreign competitors were not subjected to the same taxes in Eastern Europe.

According to Deputy Premier Krzysztof Gawkowski, this proposal is set to be presented early next year. Notably, Gawkowski leads the Digital Affairs Ministry. In this new tax proposal, the Deputy Premier emphasized that the aim is to collect approximately 2.5 billion zloty ($681 million) annually.

The tax will primarily impact e-commerce firms, but will also apply to online advertising businesses, ride-sharing apps, and companies that sell user data collected in Poland, according to initial plans.

Gawkowski acknowledged that e-commerce platforms should contribute fairly, based on their earnings, under this law, to address this issue, which has been particularly significant for Asian firms operating in Poland. “We shouldn’t hesitate to implement a solution already adopted by many European nations that proves beneficial,” he added.

This plan aligns with the European Union’s efforts to support local firms in the face of rapidly expanding Chinese marketplaces. Reports from reliable sources indicated that these marketplaces had already encountered similar taxes in countries such as France, Sweden, Italy, and Austria. 

Poland’s new digital services tax proposal faces criticism from individuals 

For the digital services tax law to get more votes and be approved, Gawkowski highlighted that he is seeking support from Prime Minister Donald Tusk’s group.

However, just like other tax proposals, the new tax law proposal faced criticism from individuals. Some officials raised concerns that this tax, which ranges between 3% and 6% of incomes gained in Poland, might result in retaliation from the US, a key player in the tech industry and strategic ally of Poland. 

In the meantime, sources familiar with the matter said Gawkowski intends for the tax to apply to companies generating at least €750 million ($865 million) in annual revenue. Firms that already pay corporate income tax in Poland, such as Warsaw-listed e-commerce group Allegro.eu SA — would be allowed to offset the new levy against their existing tax obligations.

“We will do everything possible to make sure that Polish companies, including Allegro, won’t end up paying more than they currently do,” he stated. “We are willing to discuss the details because we want local businesses to agree on this solution.” 

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Paxos has announced that it is acquiring the DeFi wallet startup Fordefi. Paxos will pay over $100 million to acquire Fordefi and then gradually integrate Fordefi’s wallet into its own infrastructure. 

Paxos, the veteran blockchain infrastructure company that is best known for its regulated stablecoins, announced on November 25, 2025, that it is acquiring the New York–based startup Fordefi for more than $100 million.  

Paxos enters DeFi with wallet developer acquisition

Paxos has been making moves to expand into on-chain finance and give its enterprise customers access to safer and more flexible DeFi access. 

Charles Cascarilla, the co-founder and CEO of Paxos, said that there’s a demand for better DeFi access within a regulated, secure environment among its clients. 

Fordefi’s team and technology will continue to operate independently for now, while Paxos gradually integrates its wallet stack into its own infrastructure. 

Fordefi acquisition 

Fordefi was founded in 2021 with about 40 to 50 employees and has offices in New York and Tel Aviv. It specializes in institutional-grade custody and multi-party computation (MPC) wallets, which are designed to combine traditional finance with decentralized finance. 

According to its own filings, Fordefi supports nearly 300 institutions and boasts of more than $120 billion in monthly transaction volume. 

Fordefi appeals to Paxos because it already connects well with many DeFi apps and has a system that controls and approves transactions safely. It also offers strong wallet security that works for both traditional and decentralized systems. 

Josh Schwartz, Fordefi’s CEO, said the acquisition will allow the company’s technology to reach a broader audience while keeping its core focus on security and innovation. 

Earlier in 2025, Paxos acquired Membrane Finance, a Finnish e-money institution. The acquisition helped Paxos increase its officially approved operations in Europe under MiCA (Markets in Crypto-Assets) rules. Paxos also recently launched Paxos Labs, which helps partners embed DeFi products such as stablecoins, yield strategies and tokenized assets into their platforms.

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The global financial community has completed its overdue switch to ISO 20022. According to Nicolas Stuckens, Head of ISO 20022 Adoption at Swift Community, 97% of payment instructions are sent using ISO 20022. 

Swift stated, “The coexistence period is officially over, and the financial community rose up to the challenge with more than 97% of payments sent in…”

Swift began a period of coexistence with the MT format for cross-border payments and reporting (CBPR+) to enable a smooth transition for the community after a five-year delay. The final switch happened over the weekend. Now, payment instructions such as MT103 and MT202 are formally retired in favour of their ISO 20022 equivalents.

Conversion service in place to automatically convert the remaining MT instructions

ISO 20020 was endorsed by the G20 and the Committee on Payments and Market Infrastructures (CPMI). It is considered a key enabler of an enhanced cross-border payments experience. Additionally, it is seen as an elevator of the payment experience, while its flexible and extensible format provides a strong foundation for digital transformation. 

Jerome Piens, Chief Operations Officer at Swift, said, “This has been a huge achievement for the global industry, and a collective effort in upgrading the global payments experience. ISO 20022’s rich, structured data is foundational to the future of payments – and a cornerstone of Swift’s strategy to enable an instant, frictionless, interoperable, and inclusive future.”

All G20 countries have switched to ISO 20022 so far. However, there is a conversion service that will automatically change any remaining MT instructions to the ISO 20022 format for a set amount of time.

ISO 20022 introduces a new game

Underneath the deadlines, ISO 20022 is a data story. Its messages are designed to carry more structured, granular information about each transaction: who is paying whom, for what, and under which conditions.

However, instead of renegotiating individual MT-era contracts, the rulebook offers a shared framework for exchanging pain.001 messages, reducing complexity and promoting consistency. It also centralises contract management under Swift, moving away from “paper or PDF” agreements towards something closer to digital infrastructure.

Even after the switch, nothing on a consumer banking app looks different. Cards still tap, salary payments still land, and merchants still see settlements arrive.

According to Swift, ISO 20022 will lay the groundwork for our blockchain-based shared ledger, which will enable the safe transfer of tokenized value and connect TradFi and DeFi, creating a fully interoperable financial ecosystem of the future.

As reported by Cryptopolitan, there are currently 9 coins deemed compliant with the upcoming standard, including Ripple’s XRP, Stellar’s XLM, Hedera’s HBAR, IOTA, ALGO, QNT, and XDC. Their inclusion in ISO 20022-compliant lists could see them feature in banking and government payment systems.

Compliance allows these assets to transmit structured data compatible with banking requirements, increasing their chances of consideration in centralized payment frameworks or digital reserve currency discussions. 

WIFT has conducted tests connecting its ISO 20022 framework to networks like Ripple, which has been trialed for interbank settlements and central bank digital currency payments. On the other hand, Stellar has been tested in cross-border transfers and stablecoin transactions. 

Stricter regulations loading for 2026

SWIFT has released a comprehensive roadmap that goes beyond payment instructions and E&I, setting retirement dates for nearly all remaining non-instruction message types. Pratiksha Pathak, Head of Payments at RedCompass Labs, stated, “Coexistence is ending, but this is only the end of the beginning […] A new wave of deadlines is approaching.”

The most immediate pressure point is the move to structured and hybrid addresses. The deadline has already been set for unstructured address fields. It will no longer be accepted after November 2026.

This involves upgrading core systems, cleansing customer data, implementing AML and sanctions screening, and integrating onboarding systems. You must also ensure your systems can accept and validate hybrid address messages from counterparties—because those will start arriving immediately.

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Bancorp is now officially testing a stablecoin on the Stellar blockchain, making it the latest Wall Street name to wade into crypto. That puts the firm right in the middle of a growing push by U.S. financial giants to move money faster and cheaper using blockchain tech.

The Minneapolis-based bank, which operates as U.S. Bank, has already formed a new division focused on crypto and money movement. During an earnings call in October, Gunjan Kedia, President and CEO, stated that Bancorp is now working on two stablecoin fronts: holding cryptocurrency for clients and testing actual payments using stablecoins. “Client demand is more muted” on the payments side, she admitted.

Bancorp builds in-house rails for stablecoin transfers

Mike Villano, senior vice president and head of digital asset products at U.S. Bank, said in an interview that stablecoins bring obvious advantages: faster settlement, lower cost, and 24/7 access.

But, he added, banks like his can’t just plug into off-the-shelf tokens and call it a day. “But for bank customers, we had to think about other protections around know-your-customers, the ability for online transactions, the ability to claw back transactions,” Mike said.

That’s where Stellar comes in. The public blockchain, originally co-founded by Jed McCaleb, was designed from the start for finance-first applications.

The network allows token issuers to freeze assets, a feature that gives traditional institutions more control than most blockchains can offer. Mike said that was a key reason Bancorp chose Stellar over alternatives.

Circle, the company behind USDC, and asset manager Franklin Templeton are already using Stellar’s rails. And the ecosystem is growing. As of September, Stellar had 9.8 million unique wallets.

In the last year, it processed $32 billion in payments, based on the latest quarterly update from the Stellar Development Foundation, the nonprofit that maintains the network.

The foundation’s president and chief growth officer, Jose Fernandez da Ponte, said more institutions are getting comfortable with moving operations on-chain.

“One of the very important things is that institutions are considering deploying on-chain,” Jose said. “That’s a ton of progress from where the institutional market was a few years back.”

More firms race to serve banks in crypto

Bancorp isn’t the only one circling the stablecoin runway. Citigroup has already linked up with Coinbase, while Ripple just raised $500 million from big-money names like Fortress Investment Group and Citadel Securities.

Ripple’s plan? Roll out products for financial firms, the exact same crowd Bancorp is targeting. Base, a chain built by Coinbase on top of Ethereum, is also going after the same space. So is Tempo, a blockchain project incubated by Stripe.

But Jose says Stellar’s independence gives it an edge. He believes banks are more likely to trust a network that’s not tied to a direct competitor.

“We think that it is very important that there are open blockchains out there that are independent, that are not affiliated with a corporate,” he said. “That’s going to give a ton of confidence for institutions that they’re building on someone that is not related to a competitor, but also someone who’s playing the long game and devoted to the progress of the technology itself.”

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Ripple (XRP) and Solana (SOL) have recently captured the market’s attention with impressive price surges, fueled by new ETF launches and strong institutional interest. While XRP has broken key resistance levels and SOL is climbing toward $140, these movements highlight a market heavily dependent on institutional sentiment and external catalysts. 

As smart investors seek more sustainable growth, projects with deep utility like GeeFi are emerging as a compelling alternative, with many analysts suggesting it could be the next 100x gem.

The Hype Cycle of Major Altcoins

While the recent rallies for XRP and Solana are exciting, they also expose their vulnerabilities. Both tokens have seen their momentum driven by ETF inflows, which can be unpredictable and subject to institutional whims. This reliance on external factors means investors are often riding a wave of hype rather than banking on the fundamental strength of the ecosystem itself, leading to potential volatility and uncertain long-term gains.

GeeFi offers a powerful solution by providing a stable, utility-focused ecosystem that isn’t reliant on temporary market trends. As a multi-chain platform, GeeFi’s value is not tied to the performance of a single blockchain. Its core is the non-custodial GeeFi Wallet, which gives you total control over your digital assets across more than 14 different networks. This design ensures your portfolio is diversified and protected from single-chain risks.

The Presale Poised to Create Crypto Millionaires

The GeeFi presale is drawing significant attention as a ground-floor opportunity for exponential returns. Many analysts are convinced that GeeFi has all the necessary components to become the next $2 project. With the GeeFi Token (GEE) currently available at just $0.05, the upside potential is staggering. For perspective, an investment of $1,500 at today’s price could transform into $60,000 if GEE reaches the $2 mark. The presale has already raised over $300,000, with 6.1 million tokens sold. With Phase 1 over 50% sold out, the price is set to increase shortly, creating a strong sense of urgency.

Generate Reliable Returns with GeeFi Staking

Unlike the unpredictable price action of major altcoins, GeeFi provides a clear path to grow your holdings through its rewarding staking program. By staking your GEE tokens, you can earn consistent passive income, building your wealth regardless of market volatility. The flexible staking option offers up to 10% APR without a lock-in period. For investors seeking higher yields, locking tokens unlocks even greater rewards: earn 15% APR for one month, 22% APR for three months, and an impressive 55% APR for a 12-month lock.

A Complete Financial Universe Built for You

GeeFi is more than just another crypto project; it’s an all-in-one financial ecosystem designed for the future. The upcoming GeeFi HUB will serve as a central web platform for managing all your digital assets. This hub will feature a multichain decentralized exchange (DEX) for easy token swaps, advanced portfolio management tools, and a built-in NFT marketplace. This comprehensive approach is a key reason many experts believe GEE could be the next 100x gem.

The project is also developing the GeeFi Crypto Card, with both VISA and Mastercard versions planned. This card will bridge the gap between crypto and traditional finance, allowing you to spend your digital assets at millions of merchants worldwide while earning cashback rewards on every transaction. This powerful blend of security, multi-chain functionality, and real-world application makes GeeFi a superior choice for long-term investors seeking a project with tangible value and massive growth potential.

Learn More

Website – geefi.io

Whitepaper – docs.geefi.io

Telegram Chat – @geefichat

Twitter/X – @GeeFiOfficial

Discord – discord.com/invite/geefi

Download App – geefi.io/download

Presale – hub.geefi.io/buy

CoinMarketCap – coinmarketcap.com/currencies/geefi/

Financial regulators in the Russian Federation are set to scrap a strict rule that requires investors to be “highly qualified” to gain access to crypto assets.

Russian cryptocurrency investments are still limited by an “experimental” framework, but the country intends to properly regulate the market in the coming months.

Russia mulls easing investor access to cryptocurrencies

The Ministry of Finance (Minfin) and the Central Bank of Russia (CBR) are preparing to abandon the current regulatory concept that allows only a limited number of professional investors to acquire decentralized digital currencies and derivatives based on them.

Only “highly qualified” investors can now buy and sell crypto assets. This includes both legal entities and private individuals, but citizens who want to obtain the status need to meet certain minimums in terms of income and previous investments.

The thresholds are as follows: at least 100 million rubles in bank deposits and securities and proven income from the past year of more than 50 million rubles (approx. $1.2 million and $600,000, respectively).

The high-income Russians, privileged to touch crypto without breaking the law, are commonly called “superquals” in Russian.

Speaking to journalists on Tuesday, Deputy Finance Minister Ivan Chebeskov stated:

“Superquals was the original concept. I think we’re generally moving away from it.”

The Minfin official remarked that investors may still be subject to “some grading,” but declined to comment in details, noting “this is the key point of the discussion” with the CBR.

At the same time, Chebeskov emphasized, quoted by the Interfax news agency:

“Overall, we have reached consensus with the Central Bank on most issues. We are very pleased that we are moving forward, and the goal is to move forward quickly.”

The high-ranking representative of Treasury pointed out that talks are now focused on how and for whom to enable transactions with digital currencies.

“We certainly believe there should be restrictions,” Chebeskov remarked, elaborating that the regulatory bodies are configuring them for non-qualified, qualified and highly qualified investors.

Wind of change is blowing in Moscow

Despite maintaining a persistent opposition against permitting the free circulation of cryptocurrencies like Bitcoin in the nation’s economy, the Bank of Russia indicated earlier this year it’s ready to soften its stance to a certain degree.

In March, the monetary authority submitted a proposal to the federal government to allow crypto transactions within a special “experimental legal regime” (ELR).

The arrangement gives Russian companies the opportunity to use digital coins in cross-border settlements, which have been made very difficult by Western sanctions imposed over Moscow’s invasion of Ukraine.

It also suggested allowing the category of “highly qualified” investors to acquire the digital assets. Then, in May, the central bank authorized financial firms to offer crypto derivatives to the same group of professional investors.

The products that are currently available on the domestic market track the performance of foreign funds investing in cryptocurrencies as well as crypto indices.

Last week, sources from the industry told the Russian business news outlet RBC that the regulator now wants to let brokers, management firms, and exchanges offer derivative financial instruments directly linked to the underlying digital assets. A representative of the central bank confirmed the news.

Earlier in November, a top CBR executive revealed the authority also plans to allow investment funds to acquire crypto derivatives next year, as soon as it amends existing regulations governing their activities.

In October, the Bank of Russia announced it’s going to permit Russian banks to work with cryptocurrencies under a separate set of rules. It also made it clear it expects lawmakers to adopt new legislation comprehensively regulating crypto investments beyond the ELR in 2026.

Its Governor, Elvira Nabiullina, highlighted that the new regulations will not need the experimental legal regime. She also said her institution was ready to consider allowing other investors, besides the superquals, to trade crypto, as long as their awareness about the associated risks is tested.

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Alibaba reported 34% growth in its cloud unit for the September quarter, dragging total revenue up 5% to 247.8 billion yuan ($35 billion) despite a steep drop in profit to 20.99 billion yuan, according to the earnings report.

The spike in cloud came from its Qwen platform, which the company has shoved to the front of its AI campaign. But earnings took a hit as Alibaba dumped money into consumer discounts, new data centers, and AI development.

The company’s e-commerce sales inside China rose 16%, showing it’s still in the fight against JD.com and Meituan.

That division helped stabilize the overall numbers, even though the marketing bill more than doubled. Investors responded early, as Alibaba’s US-listed shares jumped over 2% in pre-market trading.

Eddie Wu dismisses AI bubble fears, ramps up investments

Eddie Wu, the CEO, told analysts on Tuesday that the company isn’t sweating over warnings of over-investment.

“Looking ahead to the next three years, we don’t really see much of an issue in terms of a so-called AI bubble,” Eddie said.

That view puts him at odds with his own chairman, Joe Tsai, who, back in March, flagged how companies like Amazon, Meta, and Microsoft were building more than demand justified. Those three have seen their shares take a beating lately as questions about AI returns grow louder.

But Eddie is going full throttle. He confirmed Alibaba will keep spending to “aggressively” build out infrastructure and models, including homegrown semiconductors, to dodge US chip bans. That effort is being led by T-Head, its in-house chip arm, which is now trying to compete with Huawei.

That’s not a cheap plan. Alibaba committed to 380 billion yuan over three years—way above Tencent’s recent $1.8 billion in AI-related capex. Even with global AI stocks cooling off, Chinese firms like Alibaba have avoided the worst of the damage because their spending isn’t as bloated… yet.

But Alibaba is now way out ahead of the pack. Eddie said the company is racing to keep up with demand, not just building for hype. “Our Alibaba Cloud server infrastructure is seriously lagging behind the growth rate of customer orders. Our backlog of orders continues to expand,” he said.

Qwen app surges as rivals build their own chatbots

Alibaba relaunched the Qwen mobile app earlier this month. The product drew 10 million users in just four days, making it one of the fastest AI rollouts in China. The app’s meant to evolve into a full AI agent that can complete tasks like shopping on Taobao, booking travel, handling education, and offering map tools.

This rollout lands in a crowded field. ByteDance’s Doubao has already hit 172 million monthly active users, while Tencent’s Yuanbao is piggybacking on WeChat and prepping to build an AI-layer into the app.

None of these apps, including Qwen, is making money directly, and there’s no sign that Chinese users want to pay for subscriptions.

Still, with OpenAI and Google banned in China, Alibaba is only competing with domestic firms. But the chip supply situation is tight.

Thanks to US restrictions, the most advanced Nvidia GPUs are off-limits. Local options are limited, but Alibaba and Huawei are working on it.

Meanwhile, the company is seeing signs of a rebound in local spending, especially in quick-commerce, the rapid delivery of food and goods. Executives said they want to grow gross merchandise value in quick-commerce to 1 trillion yuan within three years.

That consumer traffic helps feed Alibaba’s other platforms.

But keeping costs down while chasing growth in both cloud and consumer tech will be the main thing investors watch. Eddie’s bet is that AI pays off, if the infrastructure doesn’t collapse under the weight of demand first.

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Ant Group booked a 10% jump in profit for the quarter ending June 30, after ramping up investments in artificial intelligence, robotics, and overseas tech infrastructure.

The Hangzhou-based firm, which runs China’s go-to payments app Alipay, added 2.7 billion yuan ($381 million) in profit to Alibaba’s bottom line.

With Alibaba owning one-third of the company, the full quarterly net for Ant comes out to around 8.3 billion yuan, based on figures shared in Alibaba’s recent earnings.

The numbers land as Ant tries to reinvent itself after a bruising regulatory crackdown that started in late 2020. The company’s own financial updates run one quarter behind Alibaba’s.

In the meantime, it’s turning to AI tools and cross-border financial systems as part of a wider strategy to find growth that’s less exposed to government pressure.

Jack Ma resurfaces as Ant targets IPO and AI rollouts

After years out of public view, Jack Ma appeared during Ant’s 20th anniversary in December to speak briefly on the company’s future and how AI can open new doors.

Ma, who co-founded Ant but gave up control in 2023, no longer has a role in the firm. His exit followed years of scrutiny after Chinese regulators pulled the plug on Ant’s record-breaking IPO in 2020.

Still, the company is finding new angles. Its international unit, headquartered in Singapore, brought in $3 billion in revenue so far this year and is now being prepped for a potential initial public offering.

The business is leaning hard into treasury services and cash flow management. One of its newer tools is an AI-powered assistant, launched just weeks ago. It pulled in 1 million users within days.

In the hardware corner, Ant introduced a humanoid robot that can offer basic medical consultations and even perform simple kitchen tasks. Alongside that, its healthcare app AQ crossed 140 million users as of September.

These efforts sit under a broader push to diversify away from Alipay, which once drove nearly everything Ant did.

Blockchain and cash optimization tools pull in clients

Ant International now offers a two-part system that helps companies manage money across countries. First is an algorithm trained on shipping costs, fuel prices, and weather, used to predict when and where cash will be needed.

Second is a blockchain messaging system that cuts out normal cross-border payment fees by helping banks reroute money in near real-time.

That combo is already in use by three airlines, according to Li, the general manager of Ant International’s platform tech unit. “The world of treasury is being disrupted as we speak, and it’s still early days,” Li said in a direct quote.

What they’re offering could cut idle cash by up to 60%, freeing up capital that can be used to invest or scale. It’s a boring part of fintech, but that’s why Ant likes it.

Andy Mok, senior research fellow at the Center for China and Globalization, called the strategy smart: “By scaling in a sector that’s obscure but indispensable, Ant could quietly capture meaningful market share before anyone notices. ‘Boring’ means less political heat, and ‘overlooked’ means more room to grow.”

The story goes back to 2016, when Li joined from Citigroup. At the time, Ant was already a heavyweight, worth about $60 billion and backed by Alibaba. In China, Alipay was so common that most vendors stopped asking for cash.

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Naver Financial, the South Korean internet giant, has officially announced plans to launch a stablecoin wallet service next month. The company is developing it in collaboration with the blockchain investment firm Hashed.

The wallet is dubbed “Silk Pocket.” In addition to Naver Financial and Hashed, the Busan digital exchange has also contributed to its development. It is specially made for Busan citizens. According to reports, it has completed the first version of development and is undergoing final verification for its launch next month.

The KRW-stablecoin exchange feature is set to go international

The project commenced development in May. Hashed will provide technical support in collaboration with the Busan digital asset exchange. On the other hand, Naver Financial, which possesses the payment infrastructure, will be responsible for wallet activation. 

The KRW-stablecoin wallet is expected to be popular among international tourists. It will enable them to easily convert their local currency into KRW-pegged stablecoins for payment simply by depositing it into their wallets. This will eliminate the need for separate currency exchange procedures or fees.

Once stablecoins are legally recognized, these institutions also plan to integrate Silk Pocket with a feature that allows users to exchange local fiat currencies for “Dongbaekjeon instantly.” 

Dongbaekjeon is an existing regional currency payment system, currently operating like a credit card that offers cashback benefits to residents. The Busan city government launched the original program to protect and revitalize local commerce and economy by promoting spending.

BNK Busan Bank, which issues Dongbaekjeon, has already begun researching how to convert Dongbaekjeon from a prepaid card or points system into a stablecoin. 

Dongbaekjeon already boasts 1.5 million monthly active users (MAU) in the Naver Pay stablecoin payment ecosystem. Naver Financial stated, “We are also planning integration with our existing digital asset wallet, ‘Naver Pay Wallet.'”

More details of the service are expected to be revealed at “Blockchain Week in Busan (BWB) 2025,” which will be held in Busan on February 22, 2025. Hashed CEO Kim Seo-jun will be presenting at the event, while Naver Financial CEO Park Sang-jin is considering attending.

Naver Financial and Dunamu merger to be announced this week

Besides the stablecoin plans, Naver Financial and Dunamu, Upbit’s parent company, are scheduled to hold board meetings on November 26 to vote on the merger proposal between them. On November 27, Naver Chairman Lee Hae-jin and Dunamu Chairman Song Chi-hyung will hold a joint press conference at Naver’s second headquarters, “Naver 1784,” to directly announce the merger plan.

As reported by Cryptopolitan, the merger between the two companies is expected to proceed through a comprehensive stock exchange method. Dunamu shareholders will exchange their shares for new Naver Financial shares, with the merger exchange ratio  favoring 1 to 3. 

Once the acquisition is finalized, Song Chi-hyung, chairman of Dunamu, will become the largest shareholder by securing about 28% of the integrated corporation. Naver (70% of Naver Financial), the previous largest shareholder, will be diluted to 17%, falling to the second largest shareholder.

Market participants expect the combined entity to pursue a listing on the Nasdaq exchange. This could unlock a valuation of at least $34.5 billion (50 trillion won) if its stablecoin and blockchain infrastructure attract global investor interest.

Meanwhile, Naver reported a revenue of 3.14 trillion Korean won ($2.32 billion) and an operating profit of 570.6 billion won ($422.67 million) in the third quarter. 

On the other hand, Dunamu reported a 35% quarter-over-quarter revenue growth, with 385.9 billion won ($262.87 million) in revenue for the third quarter. Meanwhile, its net profit rose 145% during the same period, reaching 239 billion won ($162.80 million).

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Google and Accel have joined forces to support new AI startups in India through a program that provides founders with capital, robust AI tools, and direct assistance from experts.

The new program will provide young companies with early access to powerful models, cloud support, and in-depth technical assistance from both teams, enabling them to build robust AI products from the outset.

Google and Accel make a plan to fund new AI teams in India

Google and Accel have launched a significant program to support new AI startups in India in building high-quality products from the outset. This is the first time Google has collaborated with another company in a global program like this under its AI Futures Fund, and it demonstrates the company’s commitment to supporting young founders in India and beyond.

The program will target the citizens of India and Indian-origin founders worldwide who build AI products for their country and others. Both companies claim the program is long-term because they believe India has highly skilled individuals and a substantial market for new tech companies. 

Google and Accel will provide each startup with up to $2 million, with no limit on the number of startups they can support. However, they will start with at least 10 companies that demonstrate significant potential in AI for coding and software, content creation, and digital experiences. Each startup will also receive up to $350,000 in cloud and computing credits, as well as early access to Google’s powerful AI models, including Gemini and DeepMind. 

The program will also connect founders with engineers, researchers, and business experts at Google and Accel to help them find answers to challenging questions, learn how to design more effective AI systems, and plan their businesses for rapid growth. Both Google and Accel will own shares in the startups they fund, but they haven’t specified exactly how much, as their primary goal is to help the companies grow, not control them. 

India is one of the most significant internet markets in the world, and a suitable location for AI companies to test and expand their products, given the country’s nearly one billion online population. Google is also investing $15 billion to build a new AI data center in Andhra Pradesh, and the company’s AI Futures Fund has already supported more than 30 companies, including startups like Toonsutra, which creates webtoon content. 

At the same time, Accel has its Atoms program, which has been running in India for four years and has backed 40 companies that later raised over $300 million in additional funding. Experts even say the AI market in India can grow to $17 billion by 2027, and the total spending on AI worldwide can go over $2 trillion by 2026. 

New Cohort connects founders with top engineers and AI researchers

The new program will connect startups with engineers, researchers, product managers, and go-to-market specialists from both Google and Accel. They will also have monthly meetings with Accel partners and receive one-on-one support from both companies to address questions, resolve problems, and make informed decisions.

Startups will collaborate with Google Labs and DeepMind research groups to explore new ideas and test their products using some of the world’s most advanced AI systems.

The Atoms AI Cohort 2026 runs for three months, and the application will utilize Google’s Gemini 2.5 Pro model to help founders complete forms and share information quickly, allowing them to focus on building their products.

Applications will be open until January 26, 2026. Startups that applied between September and November 2025 don’t need to reapply, as the system will automatically consider them. 

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Bitcoin has yet to flash a single confirmed market-top warning signal even after dwindling down 30.7% from its all-time high in early October, according to data from analytics platform Coinglass reviewed on Tuesday.

None of the 30 monitored bull-market peak indicators have reached their activation thresholds, leaving the composite dashboard at “0/30” as of the latest update. At least 15 triggers are needed before Coinglass confirms the market has peaked.

The absence of signals suggests the market has not entered the type of extreme euphoria, with an average progress level of 43.84% toward peak conditions, far below danger territory.

Price trend, supply, dominance indicators nearing activation

Although none of the indicators have reached their thresholds, four of them are approaching critical levels. The closest among them is the Bitcoin Short-Term Holder Supply, which registered 29.37% against a target of 30%, reaching 97.9% of the level associated with prior tops.

Bull market peak indicators chart. Source: Coinglass

The second-closest metric is Bitcoin Long-Term Holder Supply, with 14.09 million BTC recorded versus a bull-market peak threshold of 13.5 million. Supply held by long-term investors mostly declines during topping phases as holders distribute into rising prices, and this metric reached 95.82%, the second-highest reading on the dashboard.

The third is Bitcoin Dominance, which rose to 58.16%, several percentage points below the 65% reference level associated with past market peaks. The Bitcoin Trend Indicator printed 6.14 against a required 7 with a progress of 87.72%. 

At the other end of the scale, the Bitcoin AHR999 Top Escape Indicator sits at 5.64, far above the ≤0.45 level expected during overheated conditions. With just 7.98% progress, it is the furthest from confirmation among all 30 metrics.

The Bitcoin Ah999 Index, another valuation-based top detector, prints 0.54 against a required ≥4 and a 13.5% progress, suggesting the market is under moot stress. Lastly, the Bitcoin Bubble Index, tracking how speculative the market is, had clocked 9.98 compared to a target of 80, showing little resemblance to prior mania phases.

ETF net flows spell Bitcoin market’s risk aversion

Bitcoin hovered near $87,800 on Tuesday after rebounding from a monthly low of $82,000, which has been flipped by buyers as its psychological support. 

US spot Bitcoin ETFs saw $3.5 billion in outflows this month, with Monday’s session alone producing $151 million in net BTC ETF outflows. Other coins like Ethereum and Solana ETFs saw inflows of $97 million and $58 million, respectively.

Despite selective inflows into ETH and SOL products, the broader crypto-fund landscape has seen heavy withdrawals that reached $1.9 billion in outflows last week, the third-worst redemption period since 2018, according to CoinShares. 

“This level of volatility is something Wall Street investors are not very used to, and BTC has dropped more than 30% in just over a month. Once that selling pressure is exhausted, it becomes a setup for the market to recover, mainly driven by one thing: the expected rate cut in December,” DeFi investment group What Exchange commented on X.

BTC price trend similar to 2021, XRP and ETH rally

According to market analyst Merlijn The Trader, Bitcoin’s current price chart is similar to its 2021 bull-to-bear pattern. When defending the $82,000 macro base, the king coin drew a trend that was seen in 2021, holding a support band before breaking down. 

“If the downtrend breaks next…The entire market flips bullish,” Merlijn told his followers.

Ethereum showed signs of active two-way trading, with volatility spikes and aggressive orders hitting both sides of the book. Buyers kept buying dips between $2,790 and $2,800, while sellers kept moves at $2,820 and $2,835 through heavy walls of liquidity.

CryptoQuant contributor Arab Chain spotted whale addresses holding between 10,000 and 100,000 ETH have reached levels above 21 million ETH, which could have helped the second coin by market cap keep its 4.3% price boost in the last day.

On XRP, new XRP ETFs from Franklin Templeton and Grayscale attracted $164 million in net inflows on launch day, with combined inflows exceeding $600 million in under two weeks. As Cryptopolitan reported early Tuesday, institutional interest has taken the coin to a 7% rally in 24 hours, but a brief price pullback took it from an intraday high of $2.25 to $2.21.

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Dunamu, the operator of SoDunamu, the owner of South Korea’s largest crypto exchange, Upbit, will now join Nasdaq in the US after merging with Naver, allowing US investors to enter the country’s crypto market.

Dunamu and Naver Financial are scheduled to hold board meetings to approve the deal, and their CEOs will share their plans with the public.

Dunamu merges with Naver to grow its crypto business

Dunamu has decided to merge with one of South Korea’s longest-established tech companies, Naver, in a deal that could transform how people manage their finances, digital assets, and online services in the country.

Naver Financial is a branch of Naver that handles banking, payments, and other financial services, and it will buy Dunamu by exchanging shares. However, the boards of both companies and regulators still need to approve the deal, so responsible government officials will verify every detail to ensure the agreement complies with the law. Regulators must also ensure that no company has undue control over another.

Naver runs email, maps, news, blogs, search engines, and a mobile payment system that most South Korean’s use for everyday transactions and financial management. Because the company operates all these services that millions use every day, it is often referred to as the “Google of South Korea.”

Naver will use this merger to its advantage. It will build a new stablecoin backed by the Korean won. Lately, South Korea’s government has passed laws that allow banks to create stablecoins safely, and Naver aims to simplify the process for people to use and invest in digital money without relying on foreign currencies.

Regulators will closely monitor this agreement to ensure the newly created company doesn’t achieve excessive market power and does not take any actions that harm competition or prevent other companies from entering the market.

A fair and open market will keep prices reasonable and protect people from unfair practices that discourage new businesses. Suppose the new stablecoin and merger are successful. In that case, they will provide the people of South Korea with a more efficient way to manage their finances and create opportunities for additional projects that combine banking, technology, and digital currency.

Dunamu wants to sell shares in the US to get money from investors around the world

The crypto market in South Korea is one of the busiest in Asia, and investors in the United States will have a rare opportunity to be part of it once Dunamu lists its shares on the Nasdaq. Upbit already manages $2.1 billion in daily trades, demonstrating the significant adoption of cryptocurrency among South Koreans in their daily lives.

A listing on Nasdaq will enable foreign investors to purchase shares in Dunamu and gain access to a market they may not be able to reach directly.

Dunamu has also timed this listing perfectly, as many other crypto companies are also seeking to list in the US, given the increasingly favorable rules for companies that want to raise money through public markets.

Gemini, Bullish, and eToro went public earlier this year, allowing investors to purchase shares of the companies. At the same time, Circle Internet Group had one of the biggest IPOs of the year and even reached a value of $18 billion on its first day of trading.

Investors worldwide are eager to join fast-growing crypto markets, and Dunamu appears very appealing because it operates one of the largest crypto exchanges in South Korea and plans to merge with the country’s largest tech company, Naver. 

The IPO could also encourage other South Korean companies to pursue global listings, thereby increasing international interest in the country’s crypto market and providing their investors with more options to grow their investments. 

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Metaplanet may become one of the larger playbook companies to continue the streak of buying BTC. The company announced renewed credit access, with a high probability of allocating more funds to buying BTC. 

Metaplanet may be able to buy more BTC after filing a disclosure for another loan facility. Until recently, Metaplanet extended its period of lowered online communication, ending the streak of buying BTC almost weekly. 

The Metaplanet announcement arrives after Strategy skipped its weekly BTC purchase, raising concerns about the viability of playbook companies. 

As of November 25, Metaplanet still held 30,823 BTC, with an average purchase price of $108,036. The company is one of the latest buyers, starting to buy at the top in November 2024. As BTC dipped below $90,000, Metaplanet is logging unrealized losses. 

Metaplanet to use a BTC-backed loan

The recent round of fundraising for $130M is changing the playbook for Metaplanet. The company will use its BTC as collateral for the loan. In the case of positive market developments, Metaplanet may repay the loan. 

In the case of a market downturn, Metaplanet may increase the loan collateral, as stipulated in its filing. 

“In general, when borrowing against Bitcoin collateral, a decline in the price of Bitcoin during the loan term may require additional collateral to be pledged. However, as of October 31, the Company holds 30,823 BTC (equivalent to approximately USD 3.5 billion). Given the substantial scale of Bitcoin holdings relative to the loan amount, the Company expects to maintain sufficient collateral headroom.”

The loan is a part of a $500M facility, of which Metaplanet has borrowed $230M to date, including the recent loan. The company closed the deal on November 21, not mentioning its creditor. 

Since that date, Metaplanet has not announced new BTC purchases. Previously, Metaplanet also announced its Mercury preferred stock with a 4.9% dividend, a tool bearing similarities to Strategy’s more aggressively marketed preferred shares. 

Metaplanet’s MTPLF shares sink to yearly lows

Metaplanet’s MTPLF shares continued to sink, following the general trend of treasury companies. 

MTPLF traded at $2.36, down over 72% in the past six months. For 2025, MTPLF retains a small gain of around 5%. As the shares turned lower, Metaplanet canceled its options to sell more common stock. The company can still use MTPLF, but may have to proceed with caution. 

MTPLF retains a small premium for the past year, though the loss of confidence in treasury companies has led to an ongoing price slide. | Source: Google Finance

As of November 26, MTPLF trades at a $2.66B market capitalization, exactly the price of Metaplanet’s entire treasury. 

The stock slide caused a general increase in short open interest, betting on a further crash. Large bank entities are also shorting as much as 15% of the MTPLF supply, based on recent reports. Increasing short interest may signal a lack of confidence, but also spark a risky short-term rally to cause a short squeeze. 

Metaplanet is seen as the target of an attack, as the market has lost confidence in DAT companies, leading to deliberate attempts at short-selling.

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