gm 12/11

Summary
gm, The U.S. Treasury and IRS issued new guidance allowing crypto ETFs to generate staking rewards for investors, potentially enhancing mainstream adoption of proof-of-stake blockchains like Ethereum and Solana by creating a clear path for institutional participation. Jack Dorsey's Block has launched a no-fee Bitcoin payment solution through its Square platform, bringing cryptocurrency transactions to 4 million merchants worldwide and advancing Bitcoin's everyday commerce use case. Meanwhile, Uniswap proposed a major governance overhaul called "UNIfication," which includes activating protocol fees and implementing a UNI token burn mechanism, leading to a 40% surge in its token price. All this occurred against a backdrop of moderate market volatility, with Bitcoin holding above $105,000 amid optimism about a potential government shutdown resolution, while many altcoins experienced slight pullbacks.

News Headlines
🏦 JPMorgan Rolls Out JPM Coin Using Coinbase's Base Network

• JPMorgan Chase has launched JPM Coin, a digital deposit token for institutional clients that enables near-instantaneous transfers using Coinbase's public blockchain, Base.
• Unlike traditional stablecoins, JPM Coin represents a digital claim on existing bank deposits and can be interest-bearing, offering new investment opportunities for institutional clients.

🔒 UK's FCA Approves ClearToken's Digital Asset Settlement Service

• ClearToken has received authorization from the UK's Financial Conduct Authority to launch CT Settle, a delivery-versus-payment settlement system for digital assets, stablecoins, and fiat currencies.
• The platform addresses capital inefficiency issues by allowing simultaneous asset and payment transfers, reducing counterparty risk and enhancing liquidity for institutional traders.

🤝 JPMorgan and DBS Partner for Cross-Border Tokenized Deposit Framework

• JPMorgan and DBS Bank are developing a framework to enable the movement of tokenized deposits across different blockchain networks, linking DBS Token Services with JPMorgan's Kinexys.
• This collaboration aims to facilitate cross-bank and cross-chain settlements, potentially reshaping interoperability in institutional digital payments by connecting previously isolated blockchain systems.

💳 Standard Chartered to Support DeCard Stablecoin Payments in Singapore

• Standard Chartered has partnered with DCS Card Centre to launch DeCard, a credit card allowing consumers to spend stablecoins in everyday transactions, starting in Singapore with plans for global expansion.
• The initiative aims to simplify stablecoin usage by integrating digital assets into conventional payment systems without exposing users to volatility or complex conversion processes.

🚀 Monad Foundation Unveils Tokenomics Ahead of Nov. 24 MON Token Airdrop

• Monad Foundation has announced tokenomics for its upcoming MON token launch, with a public sale beginning November 17 on Coinbase's Token Sales platform at $0.025 per token.
• The MON supply will be distributed as: 38.5% for ecosystem development, 27% for the team, 19.7% for investors, 7.5% for public sale, 4% for treasury, and a 3.3% airdrop.

Market Metrics

Fundraising & VC
1. Lighter (Undisclosed, $68M) - Zk-rollup perpetuals protocol
2. Bluefin (Strategic, $4.35M) - Orderbook DEX for perpetual swaps and options powered by Substrate
3. Tria (Public Token Sale, $1M) - Self-custodial neobank

Regulatory
🏦 Brazil's Central Bank Sets Crypto Rules with Capital Requirements

• Brazil has announced comprehensive regulations for cryptocurrency service providers, establishing a licensing regime with minimum capital requirements of 10.8 million reais (~$2M), potentially rising to 37.2 million reais.
• Companies have nine months to comply with the new regulations, with foreign firms required to establish local entities and meet reporting requirements for international cryptocurrency payments.

💸 SoFi Becomes First U.S. National Bank to Launch Crypto Trading

• SoFi has become the first nationally chartered consumer bank in the U.S. to offer in-app cryptocurrency trading, allowing users to buy, sell, and hold various cryptocurrencies within their banking app.
• The company emphasizes that operating under a national bank charter enhances compliance and builds customer trust, with plans to develop a USD stablecoin and further integrate crypto into lending and payment products.

🏛️ Pro-XRP Lawyer John Deaton Running for Senate in Massachusetts

• Crypto advocate John Deaton has announced his candidacy for the U.S. Senate in Massachusetts, challenging Democratic Senator Ed Markey in the 2026 election.
• Despite his previous crypto-focused campaign against Elizabeth Warren, Deaton's new campaign reportedly places less emphasis on crypto policy, though he still accepts cryptocurrency donations.

👨‍⚖️ UK Jails Fraudster Behind Country's Largest Bitcoin Seizure

• Zhimin Qian has been sentenced to nearly 12 years in prison for orchestrating a pyramid scheme that defrauded over 120,000 Chinese pensioners, leading to the UK's largest cryptocurrency seizure of 61,000 BTC.
• The forfeiture of the seized Bitcoin, valued at approximately $6.4 billion, has created disputes over ownership between the UK government, Chinese authorities, and fraud victims.

🔄 Bipartisan Senate Proposal Seeks to Extend CFTC Authority Into Crypto Spot Markets

• Senators John Boozman and Cory Booker's bipartisan draft proposes granting the CFTC authority over digital commodities like Bitcoin, requiring exchanges, brokers, and dealers to register with the agency.
• The proposal includes consumer protection measures for self-custody wallets, anti-fraud provisions, and recordkeeping requirements, though concerns remain about DeFi regulations and anti-money laundering provisions.

Technical Analysis
Bitcoin - Investors have accepted lower prices over time to get out of Bitcoin and the currency is in a falling trend channel in the short term. Falling trends indicate that the currency experiences negative development and falling buy interest among investors. There is no support in the price chart and further decline is indicated. In case of a positive reaction, the currency has resistance at 107300 points. Volume has previously been low at price tops and high at price bottoms. Volume balance is also negative, which confirms the trend. The RSI curve shows a falling trend, which supports the negative trend. The currency is overall assessed as technically negative for the short term.

Ethereum - Ethereum is in a falling trend channel in the short term. This shows that investors over time have sold at lower prices to get out of the currency, and indicates negative development for the currency. The currency gave a negative signal from the rectangle formation by the break down through the support at 3777. Further fall to 3189 or lower is signaled. There is no support in the price chart and further decline is indicated. In case of a positive reaction, the currency has resistance at 3830 points. Volume tops and volume bottoms correspond badly with tops and bottoms in the price. Volume balance is also negative, which confirms the trend. The currency is overall assessed as technically negative for the short term.