Steven Walgenbach

Ethereum Activates Its Biggest Capacity Boost in Four Years With 60M Gas Limit

Ethereum’s base layer just received its largest capacity upgrade in years, as validators collectively raised the block gas limit to 60 million — the highest level since 2020. The change, driven by broad validator consensus and championed through the community-led “Pump The Gas” initiative, expands Ethereum’s execution capacity, reduces congestion, and prepares the network for December’s Fusaka upgrade.

More than 513,000 validators signaled in favor of the increase, pushing the network past the activation threshold and automatically elevating the limit from 45M to 60M. The expanded block capacity allows more operations to fit into each block, improving throughput for everything from token transfers to complex smart-contract interactions. Researchers say the upgrade should ease fee pressure during high-demand periods and create a more flexible environment for scaling solutions throughout 2025.

The timing is deliberate. The Fusaka upgrade — currently in its final testing phase on the Hoodi testnet — is set to introduce deeper architectural improvements on Dec. 3. The new gas limit acts as a foundational layer for those changes, giving Ethereum additional room to grow without relying on a hard fork or centralized intervention.

Ethereum Foundation researcher Toni Wahrstätter noted that the limit has doubled in a single year, calling the achievement “only the beginning.” Vitalik Buterin echoed that sentiment, emphasizing that future scaling will be more targeted: larger blocks combined with smarter pricing to discourage inefficient computation.

With validators united and new capacity already live, Ethereum is entering a new phase of base-layer performance — one that strengthens the network ahead of its next major upgrade cycle.

#Ethereum #BlockchainScaling $ETH #Fusaka

IBIT Powers a Profit Comeback as Bitcoin Reclaims Key Cost-Basis Levels

Bitcoin ETF investors have swung back into profitable territory, with BlackRock’s iShares Bitcoin Trust (IBIT) leading a sharp rebound as BTC climbs above critical cost-basis thresholds. Arkham data shows IBIT holders now sitting on $3.2 billion in unrealized gains—a dramatic turnaround from just days ago, when the average position was near break-even after a steep drawdown earlier this month.

The recovery is already easing selling pressure across the sector. After a wave of outflows on Nov. 20, spot Bitcoin ETFs have now logged their first two-day inflow streak in two weeks, bringing in $21 million on Wednesday, according to Farside Investors. IBIT remains the only fund with net positive inflows for 2025, reinforcing its reputation as the primary institutional on-ramp for Bitcoin exposure.

Bitcoin’s surge above the $89,600 flow-weighted cost basis marks another key milestone, signaling that the average ETF investor is no longer underwater. This shift reduces the risk of capitulation selling and supports a more stable demand base—especially as many ETF participants are long-term allocators rather than short-term traders.

Macro conditions are also turning in Bitcoin’s favor. CME FedWatch data shows the probability of a 25 bps rate cut at the Federal Reserve’s December meeting has soared to 85%, up from just 39% a week earlier. Historically, rising expectations of monetary easing have boosted risk assets, and Bitcoin is once again behaving as a high-beta beneficiary of that outlook.

With IBIT profitability surging, sector-wide inflows returning, and rate-cut optimism building, Bitcoin’s ETF-driven market structure appears to be stabilizing. Whether this momentum continues may depend on the Fed—but for now, the ETF investor base is firmly back in the black.

#BitcoinETF #IBIT #CryptoMarkets $BTC

Visa Deepens Its Stablecoin Strategy With New Aquanow Partnership

Visa is accelerating its push into blockchain-based settlement, announcing a new partnership with crypto infrastructure firm Aquanow to enable USDC-based transaction settlement across the Central and Eastern Europe, Middle East, and Africa (CEMEA) region. The integration aims to streamline cross-border payments by reducing friction, cutting costs, and providing institutions with 24/7 settlement capabilities that traditional banking systems can’t match.

The collaboration marks a significant expansion of Visa’s long-running stablecoin strategy. By working with Aquanow, Visa will begin settling transactions using approved stablecoins such as USDC, offering financial institutions a faster and more transparent alternative to legacy rails. Godfrey Sullivan, Visa’s head of product and solutions for CEMEA, said the move represents “another key step in modernizing the backend rails of payments” and preparing institutions for the future of money movement.

Stablecoins, once primarily a tool for crypto traders, are rapidly becoming a mainstream instrument for global finance. Their ability to maintain predictable value while operating on efficient blockchain rails has driven adoption among institutional players looking to improve settlement speed and reduce operational complexity. Visa’s expansion follows similar moves by traditional financial giants: Deutsche Börse recently announced plans to integrate the EURAU stablecoin into its institutional custody service, signaling broadening momentum across the industry.

#Visa #Stablecoins #Fintech

Altcoin ETF Flows Split as Solana Slips, XRP Surges, and Dogecoin Stumbles

Fresh SoSoValue data shows a sharply divided day for U.S. altcoin ETFs. Solana products logged their first net outflows since launch, marking a major shift after weeks of steady demand. The reversal was driven largely by a $34 million withdrawal from 21Shares’ TSOL fund, though other Solana ETFs — including Bitwise’s BSOL and Grayscale’s GSOL — continued to attract strong inflows, signaling underlying resilience in the broader SOL ecosystem.

XRP ETFs, meanwhile, maintained their flawless record, extending their unbroken inflow streak to a cumulative $643 million. Bitwise, Canary, Franklin Templeton, and Grayscale all saw positive inflows, underscoring steady investor confidence in the asset even as other altcoin markets fluctuate.

Dogecoin’s long-awaited ETF debut told a different story. Despite early expectations from analysts, Grayscale’s GDOG launched with only $1.4 million in first-day volume and saw inflows plunge more than 80% on its second day — a stark contrast to earlier spot ETF launches for Bitcoin, Ethereum, Solana, and XRP. The muted response suggests that investor appetite for memecoin-linked ETFs may be far more cautious than anticipated.

Across the market, the split in performance reflects an increasingly selective approach to altcoin ETF exposure. While some assets show sustained institutional traction, others are experiencing more tentative early-stage demand as investors reassess risk and momentum across the digital-asset landscape.

$SOL $XRP $DOGE #ETFs

Trump’s Crypto Empire Under Fire: New Report Alleges Unprecedented White House Corruption

A new report from House Judiciary Committee Democrats alleges that President Donald Trump used his pro-crypto agenda to funnel hundreds of millions into ventures tied to his family, creating what Rep. Jamie Raskin describes as “corruption on a scale America has never seen.” The findings claim the Trump orbit leveraged foreign investors, political donors, and crypto-linked enterprises to build a sprawling enrichment network—one that blurred the lines between policymaking and private gain.

The report arrives at a critical moment for digital-asset regulation, with Congress debating landmark market-structure legislation. Democrats argue that Trump’s financial entanglements in crypto complicate the policy landscape, especially as his administration champions industry-friendly reforms. While Trump officials deny all wrongdoing and dismiss the claims as politically motivated, the document paints a picture of a president shaping national crypto policy while simultaneously benefiting from the sector’s explosive growth.

As Washington’s crypto battles intensify, the allegations underscore growing concerns about conflicts of interest, foreign influence, and the risks of presidential involvement in high-stakes financial innovation. With both Congress and regulators eyeing deeper oversight, the debate over Trump’s crypto dealings is poised to become a defining clash in the politics of digital assets.

#CryptoNews #USPolitics #Regulation

Nasdaq Moves to Supercharge IBIT Options as Institutional Bitcoin Demand Surges

Nasdaq ISE’s push to lift IBIT options limits to one million contracts underscores how quickly bitcoin has entered the institutional mainstream. The exchange has formally asked the SEC to raise IBIT’s position and exercise limits from 250,000 to one million per side—putting BlackRock’s bitcoin ETF on par with major global equity benchmarks.

The proposal comes amid record-breaking demand: IBIT has now surpassed Deribit in total bitcoin options open interest, marking a historic migration from offshore venues to U.S.-regulated markets. ISE argues the current cap is restricting market makers, macro funds, and asset managers who increasingly rely on high-volume bitcoin options for hedging and yield strategies. Their filing shows that even a full one-million-contract position would represent only a fraction of IBIT’s float and an even smaller share of total bitcoin supply, suggesting minimal systemic risk.

If approved, the expanded limits—and the removal of caps for FLEX IBIT options—could unlock deeper liquidity, larger institutional strategies, and a new era of regulated bitcoin derivatives growth. The SEC’s decision will determine whether IBIT becomes the next major pillar of Wall Street’s crypto infrastructure.

#IBIT #Nasdaq #Crypto

S&P’s USDT Downgrade Sends Shockwaves Through China’s Shadow Crypto Economy

S&P Global’s decision to downgrade Tether’s USDT from “constrained” to “weak” has triggered widespread concern across China’s underground crypto ecosystem, where more than 20 million participants rely on the stablecoin as their primary gateway to digital assets. The rating agency cited rising exposure to volatile reserves—including Bitcoin and gold—alongside persistent gaps in transparency, raising fresh questions about USDT’s long-term peg stability.

The announcement immediately lit up Weibo and WeChat, where traders debated whether the downgrade reflected genuine structural risk or another episode of fear, uncertainty, and doubt. For China’s shadow crypto market—already operating without legal protections, regulated on-ramps, or domestic exchanges—the timing is particularly sensitive. With most offshore trading pairs and OTC conversions denominated in USDT, even a perception of instability can reverberate quickly.

While some traders remain unfazed, others view the downgrade as a potential stress test for the entire underground ecosystem. As Tether defends the strength of its reserves, confidence across China’s unofficial crypto economy is being tested—highlighting just how essential USDT has become to its survival.

#USDT #Tether #CryptoMarkets

ALT5 Sigma’s DAT Gamble Backfires: Inside a Rapid Corporate Unraveling

ALT5 Sigma’s aggressive push into Trump-linked WLFI tokens has quickly become a cautionary tale for the emerging digital-asset treasury (DAT) sector. The Nasdaq-listed fintech is now facing internal chaos, executive exits, and an 80% stock wipeout as its high-profile WLFI strategy triggers mounting scrutiny from investors and regulators.

A new investigation from The Information details how the company’s shift into becoming a major WLFI token holder has coincided with cascading resignations, a CEO suspension, undisclosed legal issues abroad, and warnings to employees about potential litigation and regulatory investigations. The turmoil follows the company’s plan to raise $1.5 billion to accumulate WLFI — a governance token backed by Donald Trump and his sons — a vision now overshadowed by financial instability and governance concerns.

As DAT-focused companies enter the regulatory spotlight, stakeholders are watching ALT5 Sigma’s situation closely. Investors have voiced alarm over the firm’s collapsing valuation and lack of clarity around its token-fundraising claims, while broader skepticism grows around whether some DAT structures are enabling large token holders to offload risk. With shareholder anger rising and oversight tightening, ALT5 Sigma has become a focal point in the debate over corporate crypto-reserve strategies — and a test case for what happens when hype outruns governance.

#ALT5Sigma #WLFI #CryptoRegulation $WLFI #DAT

South Africa Flags Stablecoins as New Financial Stability Risk

South Africa’s Reserve Bank has raised fresh concerns over the rapid rise of crypto and stablecoin adoption, warning that the growing use of USD-pegged tokens could pose emerging risks to the country’s financial system. The central bank’s latest Financial Stability Review shows that the nation’s top three exchanges have reached 7.8 million registered users, with roughly $1.5 billion in crypto assets held in custody.

SARB highlighted a structural shift in the market: stablecoins have now overtaken Bitcoin and other cryptocurrencies as the primary trading pairs in South Africa due to their lower volatility. At the same time, the Financial Stability Board noted that the country still lacks a regulatory framework for global stablecoins, allowing risks to “build up undetected” until clearer oversight is introduced.

Despite these warnings, other government bodies like the FSCA continue to move toward integrating crypto into the formal financial system through licensing and supervision.

#SouthAfrica #CryptoRegulation #Stablecoins

CFTC Moves to Build CEO Innovation Council as Crypto Oversight Expands

The U.S. Commodity Futures Trading Commission is taking a major step toward modernizing its approach to digital assets. Acting chair Caroline Pham has opened nominations for a new CEO Innovation Council, a group designed to bring senior industry leaders directly into policy discussions on crypto markets, prediction platforms, and emerging financial technologies.

The council will accept submissions until December 8 and builds on previous CFTC initiatives such as the “Crypto Sprint” and recent collaboration with Congress on a market structure bill. Its formation comes at a pivotal moment: the agency has been operating with only one commissioner for months, and Pham may soon be succeeded by Michael Selig, whose nomination is heading toward a Senate floor vote.

Selig has signaled strong interest in strengthening oversight of spot digital asset commodity markets, emphasizing the need for a clear regulatory presence as crypto activity accelerates. His confirmation would give the CFTC long-needed leadership as lawmakers return to Washington after the Thanksgiving recess.

#CFTC #CryptoRegulation #DigitalAssets

Polymarket Wins CFTC Green Light to Operate as Fully Regulated U.S. Platform

Polymarket has secured an Amended Order of Designation from the U.S. Commodity Futures Trading Commission, granting the prediction-market platform full regulatory approval to operate in the United States. The decision brings Polymarket under the same federal oversight applied to major exchanges, including enhanced market-supervision standards, clearing requirements, and Part 16 reporting obligations.

The approval also opens the door for intermediated access, allowing U.S. participants to engage with Polymarket through futures commission merchants and traditional brokerage channels. Founder and CEO Shayne Coplan said the ruling reflects a growing recognition of prediction markets as a mature financial product that offers clarity during uncertain events.

Polymarket expects to reopen access to U.S. users following its initial shutdown in 2022, marking a significant step forward for regulated event-based markets in the country.

#Polymarket #CFTC #PredictionMarkets

Texas Moves Closer to State Bitcoin Reserve With $5M IBIT Purchase

Texas has taken a significant step toward becoming the first U.S. state to hold bitcoin on its balance sheet, securing $5 million of BlackRock’s iShares Bitcoin Trust (IBIT) as an initial position. The move follows legislation that allocated $10 million to establish the Texas Strategic Bitcoin Reserve, designed to guide the state’s long-term accumulation of digital assets.

The IBIT purchase serves as a placeholder while Texas completes its information-gathering phase and prepares a formal request for proposal to select a custodian for direct bitcoin holdings. According to officials, the state received broad industry input on best practices for managing and securing a government-level bitcoin reserve.

Texas is emerging as a frontrunner in a wider movement, with New Hampshire and Arizona also pursuing state-level bitcoin reserve plans. Federal discussions have begun as well, but state governments are moving more quickly, driven by policymakers and advocacy groups aiming to position their regions at the forefront of digital asset adoption.

The purchase also caught market attention after bitcoin’s recent price drop, prompting industry leaders to note that Texas effectively “bought the dip” as it executes its long-term strategy.

#Bitcoin #Texas #CryptoPolicy $BTC

Solana Defies Market Outflows With a Surge of $369M in ETF Inflows

Solana-focused investment products drew $369 million in inflows throughout November, standing in sharp contrast to the heavy redemptions seen across Bitcoin and Ethereum ETFs. Data from SoSoValue shows Bitcoin ETFs shedding roughly $3.7 billion, while Ethereum products lost about $1.64 billion during the same period.

The divergence highlights a growing investor shift toward yield-bearing crypto assets, with Solana’s 5–7% native staking rewards emerging as a major draw. Experts note that both institutional and retail investors increasingly view SOL as a productive proof-of-stake asset rather than a speculative trade, especially as staking participation accelerates.

More than 67% of circulating SOL is now staked, and both retail and whale delegators continue to expand or consolidate their positions even amid price volatility. Platforms like Everstake and Trezor report rising staking activity, reflecting long-term conviction in Solana’s income-generating profile.

As institutional interest strengthens and capital rotates toward yield-driven strategies, Solana’s staking-focused ETFs are emerging as one of the standout beneficiaries in a tightening crypto investment landscape.

#Solana #Staking #CryptoMarkets $SOL #ETFs

Monad Airdrop Disaster Sees User Lose Entire $112,700 Allocation to Gas Fees

A Monad airdrop participant has reportedly lost their entire MON token allocation — worth roughly $112,700 — after hundreds of automated failed transactions drained the full amount in gas fees. Blockchain data from Solscan shows the wallet repeatedly attempted to claim tokens, but each failed submission still burned gas, ultimately wiping out the entire airdrop.

The user is believed to have automated the process through a script, leading to continuous failed attempts without noticing the initial errors. Industry analysts say this highlights the importance of performing small test transactions before executing high-value on-chain actions.

The incident coincides with a separate warning from SlowMist’s founder, Cos, who reported a vulnerability in the Monad claim portal that may have allowed attackers to bind user allocations to malicious wallet addresses without requiring transaction confirmation. Several users have reported missing airdrop allocations as a result.

With airdrop farming continuing to shape token distribution dynamics, these events underscore the growing security and operational risks facing both blockchain users and emerging networks.

#Monad #Airdrop #CryptoSecurity

Metaplanet Draws Another $130M in Bitcoin-Backed Credit as It Accelerates Its BTC Strategy

Metaplanet has expanded its use of Bitcoin-backed borrowing with a new $130 million draw from its existing credit facility, bringing total usage to $230 million. The Tokyo-listed firm executed the loan on Friday as part of a $500 million revolving credit line secured by its substantial Bitcoin holdings.

The additional capital strengthens Metaplanet’s ability to acquire more BTC, expand income-generation programs, and potentially support future share buybacks—while avoiding the dilution associated with issuing new equity. The company emphasized that its balance sheet remains strong enough to withstand volatility, noting that its Bitcoin reserves provide ample collateral headroom even during market drawdowns.

Despite currently sitting on an estimated 19% unrealized loss based on its average acquisition price, Metaplanet continues to double down on its long-term Bitcoin strategy. Leadership figures, including Bitcoin strategy director Dylan LeClair, publicly reiterated that the company remains committed to accumulating and holding BTC as part of its broader corporate treasury approach.

The timing of the new loan draw has sparked community speculation, with some observers suggesting the company may have taken advantage of last Friday’s price dip to increase its Bitcoin position at a discount—reinforcing its strategy of leaning into market weakness to build long-term reserves.

#Metaplanet #BitcoinTreasury #CorporateFinance $BTC

Revolut Hits $75B Valuation in New Share Sale

Revolut has reached a $75 billion valuation after completing a major share sale backed by Coatue, Greenoaks, Fidelity, Dragoneer, a16z, Franklin Templeton, T. Rowe Price and Nvidia’s NVentures. Employees were able to sell shares as part of the deal, marking the company’s fifth staff liquidity event.

The London-based fintech reported 2024 revenue of $4 billion, a 149% rise in pre-tax profit to $1.4 billion, and surpassed 65 million retail customers in 2025. Revolut expanded globally over the past year with banking licenses in Mexico and Colombia and upcoming services in India.

In Europe, the company secured a MiCA license in October, allowing it to offer regulated crypto services across all 30 EEA countries. A report from The Times in September said Revolut is considering a dual public listing in London and New York.

#Revolut #Fintech #Crypto

Strategy’s Bitcoin Premium Plunges as MSCI Exit Looms — Yet Analysts Still See Massive Upside Ahead

Strategy’s bitcoin premium is sinking back toward levels last seen during the 2021–2022 crypto winter, a signal that investor enthusiasm has cooled while structural pressures intensify. The decline comes at a sensitive moment: MSCI is preparing to rule on whether public bitcoin treasury companies like Strategy should be removed from its major global indices — a move that could force billions in passive outflows.

TD Cowen’s latest research note underscores the scale of the risk. Analysts estimate that roughly $2.5 billion of MSTR holdings are tied to MSCI indices alone, with up to $5.5 billion more across other indices that may follow MSCI’s lead. Forced selling at depressed prices could amplify the premium collapse, further widening the gap between Strategy’s long-term bitcoin thesis and short-term market dynamics.

Despite the looming index shakeup and a premium nearing “crypto winter” lows, TD Cowen has doubled down on its bullish stance. The firm reiterated its $535 price target — nearly 200% above today’s share price — and maintains its projection that Strategy will hold more than 815,000 BTC by FY27. In their view, the company’s long-term bitcoin accumulation strategy remains intact, and its software business still supports operating fundamentals.

Michael Saylor, as always, remains unfazed. He has dismissed index classification concerns as noise, arguing that Strategy’s mission to build a digital monetary institution on Bitcoin is unchanged. TD Cowen’s analysts echoed that sentiment, saying “a bias against Strategy is a bias against Bitcoin,” and suggesting that the stock could materially outperform if BTC strength returns.

#MSTR #Bitcoin #Markets $BTC

Franklin Templeton’s XRP ETF Marks a Major Turning Point for Institutional Crypto

Franklin Templeton has officially entered the XRP ETF arena with the launch of its XRPZ fund on NYSE Arca — a move that underscores how rapidly Wall Street’s stance on digital assets is evolving. The ETF gives investors fully regulated exposure to XRP at a time when institutional demand for diversified crypto products is accelerating.

The launch comes only months after Ripple settled its years-long SEC case, a turning point that shifted sentiment around XRP and reopened the door for major financial institutions. With Franklin Templeton now managing ETFs tied to bitcoin, ether, XRP, and a diversified basket of digital assets, the firm is positioning itself as one of the most aggressive traditional players in the blockchain investment space.

Industry momentum is building quickly. Bitwise’s XRP ETF attracted roughly $118 million in inflows during its first week, and Grayscale has rolled out its own XRP fund alongside Franklin’s debut. This wave of new products reflects a broader reassessment of token-specific exposure, especially as blockchain-based settlement networks become increasingly relevant to institutional finance.

#XRP #ETFs #CryptoAdoption $XRP

Bitcoin’s $1 Trillion Wipeout Puts Market Fragility Back in Focus, Deutsche Bank Says

Deutsche Bank is sounding the alarm after Bitcoin’s sharp tumble to $80,000 erased nearly $1 trillion in market value before rebounding.

In its latest report, the bank links the drawdown to rising macro stress, hawkish rate expectations, stalled regulatory momentum around the CLARITY Act, and accelerating ETF outflows — all of which pushed BTC to behave more like a high-beta tech stock than a hedge.

The analysts warn that weakening institutional flows and long-term holder selling amplified the volatility, reviving concerns over Bitcoin’s “Tinkerbell effect,” where sentiment is the main driver of valuation.

Despite the turbulence, DB maintains that Bitcoin’s long-term maturation remains intact — but says policy ambiguity and thin market structure continue to magnify every shock.

#Bitcoin #DeutscheBank #CryptoMarkets $BTC

ECB Says Stablecoins Are No Threat to Europe—for Now

The European Central Bank has concluded that stablecoins pose only minimal financial stability risks to the euro area, citing low adoption, limited real-world use, and the EU’s proactive MiCA regulatory framework. In a new financial stability review, ECB analysts emphasized that despite rapid global growth, most stablecoin activity remains confined to crypto trading rather than payments or remittances.

The report highlights that dominant USD-pegged assets like USDT and USDC maintain little direct integration with Europe’s financial system, significantly reducing spillover risk. Visa data further underscores the limited utility: just 0.5% of stablecoin volume reflects genuine retail-sized transfers.

However, the ECB warned that the pace of global expansion — along with cross-border regulatory arbitrage — requires close oversight and stronger international coordination. With MiCA set to roll out fully across the EU, Europe is positioning itself ahead of the curve as stablecoins evolve and mature worldwide.

#ECB #Stablecoins #MiCA