Market

XRP ETF booms but XRP price falls miserably

XRP ETF officially launched on November 13, 2025 with the issuance by Canary Capital attracting a trading volume of $59 million on the first day and $256 million in the first 3 days, becoming the most successful ETF launch in 2025.

This is considered an important milestone marking the end of the legal battle between XRP and SEC with a victory for Ripple. On November 24, 2025, XRP ETF and Dogecoin ETF of Grayscale launched also received great attention from the community.Contrary to the attraction of XRP ETF, everyone expected $XRP to increase on positive news but no, the reality was different. $XRP dropped sharply from $2.5 to $2 after the ETF news.

Factors Behind XRP's Price Drop After XRP ETF Launch: Whales Sell: Sell the New, data shows whales sold around 200 million XRP in the 48 hours after the ETF launch, outpacing institutional inflows and exacerbating negative sentiment. Broad Market Correction: The entire crypto market lost $1.1 trillion in market capitalization in just 41 days, with altcoins like XRP under additional pressure as Bitcoin broke through $90,000.

Lag of Institutional Influence: Experts note that new ETF capital typically takes time to impact underlying asset prices, and the major impacts could be delayed until 2026. On-Chain Analysis: Even at prices above $2.10, 41.5% of XRP's circulating supply is still in the red, suggesting a structurally weak market due to late investors and profit-taking.

2025 Marks the Most Strict Crypto Crackdown in the History of Mainland China

Full​‍​‌‍​‍‌ Stablecoin Prohibition in China (November 28, 2025)

Along with the People's Bank of China (PBOC), the central authorities have decided to block all kinds of activities related to cryptocurrencies in China. This ban comprises stablecoins as well.

First of all, stablecoins are being directly referred to as virtual currencies and thus banned as a means of payment. They have been entirely prohibited because of the risks related to money laundering, illegal transfer of funds, and the fact that they do not meet KYC/AML requirements. The regulation department doesn't leave any "gray zones" in terms of ​‍​‌‍​‍‌policies.

Hong​‍​‌‍​‍‌ Kong: A Rapid Decline of a Key Market

At the beginning of 2025: With the help of Ant Group and JD.com, Hong Kong was the "gateway" leading the way to issuing CNY-pegged stablecoins and creating blockchain payment solutions.

By August 2025: The new Stablecoin Act put in place very strict KYC/AML requirements, thus forbidding the provision of services to users in the mainland (even via VPN).

As a result, Ant Group and JD.com had to stop the execution of all related projects completely, while the opportunities for stablecoins went to the traditional licensed ​‍​‌‍​‍‌banks.

China's​‍​‌‍​‍‌ Cryptocurrency Restrictions History

The way to complete ban has been very systematic:

• 2013-2017: Ban on banks working with crypto and prohibition of ICOs

• 2021: Total ban on all trading activities

• 2024: Ban on mining activities

• 2025: Clear stablecoin ban to close all remaining ​‍​‌‍​‍‌loopholes

Digital Yuan (e-CNY) Takes the Throne

The Chinese central bank digital currency is now operating on a national level. The number of transactions exceeds 14,200 billion yuan (~$2 trillion USD). This is a very compact and efficient way of making payments in the digital world. It is a highly centralized and state-controlled solution without any kind of intermediary. The goal is to have one single instrument of payment that would cover all the functions previously distributed among different ​‍​‌‍​‍‌cryptocurrencies.

Underground​‍​‌‍​‍‌ Activities Persist

Even after the crackdown, small, secret mining operations in China contribute to around 14% of the global Bitcoin hashrate. Peer-to-peer transactions, over-the-counter trading, decentralized exchange usage, and stablecoin activities are still happening through virtual private networks and methods to bypass the Great Firewall. The police have stepped up their game in terms of on-chain monitoring, but these activities have not been completely wiped out.

In 2025, China decided to shut down all avenues for decentralized cryptocurrencies, with a particular emphasis on stablecoins, while endorsing the e-CNY as the only state-backed digital financial solution. In spite of carrying out the harshest crackdown so far, the underground crypto scene manages to keep breathing - indicating that it is almost impossible to totally eradicate decentralized ​‍​‌‍​‍‌technologies.

The market is on the rise: Crypto regains the 3.2 trillion USD mark, US stocks increase.

There are green numbers everywhere. This is what traders see today when both crypto and stocks are going up. People are buying again and they are very confident about it.

The total crypto market is now worth over $3.2 trillion. That is just to say, a very big number. If we take the UK GDP as a benchmark, the total crypto market would be even more valuable than the UK economy.

So, what is that catching the people's eyes? The smaller coins – altcoins. On Binance (a major crypto exchange), coins like PARTI, TURBO, and PENGU were bright spots. Do you remember only Bitcoin being talked all the time? Well, it's changing.

The thing that is making a majority of people talk about is Sui.

The new blockchain network is quick to catch fanbase. The projects which are being built on Sui have very fast growth – growth like early days of Solana and BNB Chain. The investors are basically trying to say, "We couldn't get on board with the other ones but maybe this time not."

Technologically, the stock market is also having a ball with the semiconductor industry.

One of the stocks which brought up the rally was Intel. NXP and Applied Materials also did the same.

Why do chip stocks matter? Well, the reason is that everything nowadays needs chips. Your smartphone, your car, your smart toaster – all are being powered by semiconductors.

It's the crypto and stock markets both moving in the same upward direction that really gives away a big clue. Usually, when crypto and stocks go up together, it is a sign that investors are in the mood for taking risks without hesitation. Those who used to hide their money beneath the mattress are now openly investing.

Yes, there are still very big questions about the economy. Among these questions are inflation, interest rates, and other related matters. However, at this moment? Investors are choosing to think about the good possibilities rather than the bad ones.

There are times when the market simply makes the decision to be ​‍​‌‍​‍‌optimistic.

Fed Prepares Capital Rules for Stablecoin Issuers Under GENIUS Act

In a major speech, Federal Reserve Governor Michelle Bowman has essentially outlined the road map for a raft of fresh regulations that would not only target stablecoins but also deal with concerns around banking capital requirements—which have been two of the most talked about issues in the finance sector.

Creating the "Game Rules" for Stablecoins

Bowman declared that the Fed by itself will set up new regulations for stablecoins and banks that operate in this area with the two goals of facilitating fair competition and ensuring that innovation is socially responsible. This is by far one of the strongest statements indicating that the Fed is no longer passively watching but plans to take tangible steps to regulation of the digital asset market.

An important feature of Bowman's intention is her pledge to engage other federal regulators in the formulation of capital and liquidity requirements for entities issuing stablecoins. The execution of this effort will take place under the provisions of the GENIUS Act (Digital Monetary System Innovation and Unification Act), a fresh piece of legislation whose main objective is to bring the U.S. financial system up to date. The implication of this move is that the future issuers of stablecoins may be required to comply with conditions similar to those imposed on bank and financial institutions thus a significant step to stabilize the system.

Providing a Bit of Regulatory Relief While Completing Capital Reforms

Besides stablecoins, Governor Bowman pledged to resolve the issue of banking capital reforms which have been on the table for a long time. The main theme of this undertaking is the implementation of the final Basel III Endgame standards, an internationally agreed-upon set of rules aimed at making banks more resilient after the 2008 financial crisis.

However, Bowman, in a gesture that has been greeted with approval by the banking sector, intimated that they might relax some of the large banks' initially proposed requirements. It indicates that the Fed is attentive to concerns brought up by the industry that very stringent rules might result in a loss of competitiveness and a decrease in lending activities and thus it tries to strike a balance between system safety and operational efficiency.

Bowman's remarks are very indicative of the Fed's efforts to level the playing field so that new products such as stablecoins could flourish in a secure regulatory framework and, at the same time, the traditional banking system would be strong enough not to be affected by regulations. These crucial moves will redefine the U.S. financial landscape in a few ​‍​‌‍​‍‌years.

More than an investment: The $300 million move and the revolution in foreign exchange reserves.

A move like no other, a country has just stunned the financial world with a jaw-dropping announcement: They will be officially setting aside $300 million of their foreign reserves to invest in cryptocurrency.

A Bold Move Challenging Traditional Finance

It is not just about the money being invested, but this move is a loud strategic signal. Foreign reserves are supposed to be thrown in very safe and highly liquid assets like the US dollar, Euro, gold, and government bonds from major powers. A country that is willing to put some of its reserves into the realm of cryptocurrencies that have been characterized as highly volatile and risky is to an extent challenging all the ways the world has been operating so far.

Analyzing the Motives Behind This Historic Decision

The bold move seems to be a product of the following factors combination:

• Diversification and reducing USD dependence: The most probable reason for the move. The US dollar is becoming a weapon that the US uses against its adversaries and allies, making it unequally wielding power in the international market, however, this makes some countries wary of it, and it might be the case that they are looking for alternatives to the dollar as the reserve currency of the world. Bitcoin and other decentralized cryptocurrencies seem to be the perfect "escape route"—a global asset that is not controlled by one single nation.
• Hedging against inflation: The fiat money system is a cause of worldwide inflation, hence, poor issuing countries are the "winners" of the game by inflating their way out of debts, therefore the concern of a devaluation of the fiat currencies is more than justified. Limited cryptocurrencies, in particular, Bitcoin, are, thus, "digital gold" that can hold on to its value, even in inflation times.
• Betting on the future of finance: It may be the case that this country is laying a bet that in the future, digital tokens will be deeply integrated into the global financial system. Therefore, they would take this step as an act of foresight and, in this way, they would be enabled to gain a lot of financial profits and, at the same time, make a name for themselves in the fintech innovation sector.

Potential Impact: A Global Domino Effect?

It may be the case that other countries around the world will follow this lead after witnessing a domino effect of this sort. Central banks along with finance ministries in other countries all over the world will be thinking two times and, later on, revising their reserve strategies. In case this trailblazing nation is able to pull it off, a scenario of numerous small and underdeveloped countries imitating this lead is possible.

This provides the strongest indication of crypto as a viable macroeconomic asset from a global perspective to the crypto market. It will certainly open doors to a new wave of capital from state-level institutions, which is a much larger source compared to the current investment funds.

Though we do not know the country, nor the coins that they intend to buy, the fact itself, a game-changing development, acts as a signal. The financial world is anxiously awaiting the next move, thinking this might just be the first page of the revolution in how wealth and power are handled by the ​‍​‌‍​‍‌nations.

Overcoming Skepticism: How White Paper Translation Paved the Way for Bitcoin in China

Local​‍​‌‍​‍‌ media continued to mock the idea of Bitcoin until it became popular in China. They even accused it of being a fraudulent scheme. One single action by one person, however, stood out and eventually changed the entire scenario.

Chinese investors and scientists had a hard time during the nascent period of Bitcoin as they did not have sufficient information in their language. The majority of the news regarding Bitcoin came from large-scale media which is known for its critical attitude and frequently for its misinformation. Inquiries concerning this new technology were covered up by the doubt fence.

The truth of the matter is that things changed when one of the first to believe in the concept took it upon himself to make the Bitcoin Whitepaper available in Chinese.

In 2011, before the whole world understood the importance of Bitcoin, Jihan Wu—who later became the co-founder of industry giants Bitmain and Matrixport—was already able to see through the noise and recognize its breakthrough potential. Having a very strong background in both areas, Economics and Computer Science, he was very quickly convinced by the revolutionary concept of "digital scarcity." At the same time, he deeply understood that wrong information was the major obstacle that prevented people from accepting the new technology.

To fix the problem of knowledge, Jihan Wu took into his own hands the task of translating the Bitcoin Whitepaper from English to Chinese. It was the very first time that the paper was entirely translated and widely published in China. The impact of this single act was very great. It was the first time that a large number of new people were able to experience the original ideas of Satoshi thought them exactly as they were, and not through the lens of skeptical media outlets.

It was much more than merely get the message about Bitcoin across to China—it created a platform for fair and well-informed debates at a time when people still had very serious doubts about digital assets. Wu's translation was an invaluable piece of the puzzle in getting the ball rolling and the first wave of Bitcoin adoption in one of the world's most influential ​‍​‌‍​‍‌markets.

Coinbase Ventures will focus on investing

RWA Perpetuals

Inventing perpetual derivatives for real-world assets (e.g., non-public companies, ecological data, oil, inflation) thus, opening the access to macroeconomic assets to the general public.

Specialized Exchanges & Trading Terminals

• Proprietary Automated Market Makers (AMMs): The models that save liquidity providers from predatory flows by Solana market structures innovating.
• Prediction Market Terminals: Tools that aggregate fragmented liquidity ($600M+), advanced order-executing systems, and cross-exchange routing for professionals.

Next-Generation DeFi

• Reusable Perpetuals: The integration of yield on collateral assets for leverage positions where DEX perpetual trading volume is around $1.4T/month (300% YoY rise).
• Uncollateralized Lending/Credit: A combination of on-chain reputation and off-chain data is a way to open the $1.3T U.S. market of revolving credit.
• On-Chain Privacy: The implementation of the security tools ZKP, FHE, MPC, TEEs for assets, and DeFi, minimization of the public information disclosure.

AI & Robotics

• Robotics & Humanoid Data Collection: The DePIN models are incentivizing the physical interaction data with which to train embodied AI.
• Humanity Proofs: The biometrics, crypto signatures, and open standards that serve as means of distinguishing humans from AI.
• AI for On-Chain Development & Security: AI agents that facilitate the creation of smart contracts, security testing, and on-chain development ​‍​‌‍​‍‌democratization.

Fed rate cut expectations soar, financial markets rally.

Financial market sentiment has made a dramatic "pivot", shifting from pessimism to strong optimism after investors reinterpreted the latest signals from the US Federal Reserve (Fed).

A wave of expectations for a big growth run by the end of 2025 is forming, fueled by the Fed's admission that monetary policy still has "room" to cut and the labor market is weakening. Immediately, the odds of a December rate cut in the prediction markets jumped from 20% to 80%, leading to a general rally in financial assets: gold rebounded to the $4,150/ounce area, the Dow Jones index surpassed 47,100 points, and Bitcoin hit $88,000.

Technically, Bitcoin's solid hold on the year's key support zone of $80,000 opens up expectations that the price will soon return to the peak zone of $110,000 - $130,000. More notably, the strength index of Bitcoin (BTC.D) is clearly weakening, suggesting that the money flow may be preparing for a real "altcoin season", where prominent altcoins such as SOL, ETH, BNB, ASTER may grow more than Bitcoin.

This optimism is further bolstered by positive geopolitical news, as the Russia-Ukraine war appears to be progressing towards a peace deal. With factors from monetary policy, technical analysis and geopolitics converging, a scenario for a major growth wave by the end of 2025 is becoming clearer than ever.

Zcash (ZEC) Surges 900%: Three Factors That Create a “Perfect Wave”

While Bitcoin and Ethereum are trading in a tight range, Zcash (ZEC) has suddenly surged 9x in just one month, taking the market by storm. The boom is the result of a “perfect wave” made up of three converging factors: First, the privacy narrative is gaining momentum as on-chain oversight tightens, putting ZEC’s zk-SNARKs technology right at the center of market demand.

Second, the transfer of nearly 4 million ZEC into the “Shielded Pool” created a “supply shock,” which drastically reduced the amount of ZEC circulating on exchanges and made it easier for the price to rise. Finally, as the market was “starving” for a new narrative, three streams of capital converged on ZEC: institutional capital seeking a hedge, traders speculating on the narrative, and retail investors believing ZEC was undervalued.

This convergence amplified the price rally tremendously. However, the biggest question is whether ZEC can sustain this rally. The future of Zcash will depend on whether it can become the “security standard” for digital finance, or just a short-term pump following the trend.

The race for the Fed: Kevin Hassett leads the pack.

One of the most debated positions in global finance is gaining more attention: Chair of the the Federal Reserve. The next Fed chair to succeed Jerome Powell with a substantial consideration appears to be Kevin Hassett, a widely known economist, according to people familiar with Washington.

What Do We Know About Kevin Hassett?

Kevin Hassett has been deeply involved in influencing the U.S. economy through policy for many years. During Trump's presidency, he was the chairman of the White House Council of Economic Advisers (CEA), and he remains acknowledged for his achievements, one of them being a fellowship at the American Enterprise Institute (AEI), a conservative think tank, where he is an active member.

Hassett advocates that the economy is best stabilized through a supply-side approach, and therefore he supports the idea of tax reductions and deregulation to stimulate the economy by the business sector. In fact, he played a major role in the rewriting and implementation of the law that drastically cut taxes in 2017.

Personalized Federal Reserve Strategies Under Kevin Hassett's Command

Choosing Hassett would be equivalent to the Fed changing not only its strategy but also its political orientation, giving up the relative independence of Powell for one that would be probably more politically aligned and coordinated with the government's objectives.

Focus on Growth, Not Inflation Control: Kevin Hassett is a classic supply-side economist. Therefore, as a Fed Chair, he would most likely focus on maximum economic growth and job creation, leaving uncontrolled inflation to occur, at least for some time. He could show himself quite dovish in that he would be likely to lower interest rates more often to encourage the economy.

Financial Deregulation: As a zealot of free markets, and his party in general, Hassett would not hesitate for a minute to advocate for banking and financial deregulation, which, in theory, would stimulate the flow of money and thus the economy.

Concerns Over Fed Independence: Fed autonomy questions arise from his closeness to the former Trump team. His friends on the markets might also get skeptical over that as well and ask whether the Fed will take impetuous and politically induced moves rather than data-oriented ones.

First and foremost, Kevin Hassett's prominence as a finalist symbolizes a possible redirection in the U.S.'s economic policy to be led by him. Therefore, financial markets would have to reconsider their assumptions of upcoming interest rate moves as well as monetary policy deeply if only deciding to appoint him. Now, it's even less certain who will be the next chair of the Fed.