Crypto news

Reasons Banks Aren’t Currently Using XRP in Large Volumes

Banks resist using XRP because the US dollar remains the only regulated bridge currency. Crypto assets are classified as high‑risk, and the BIS applies a 1250% risk weight to unbacked tokens like XRP. This forces banks to hold large capital buffers, making XRP unattractive despite its technology. If the BIS reduces the risk weighting, banks could adopt XRP for cross‑border liquidity. A trade could then flow GBP → XRP → PHP, eliminating the intermediate dollar step. Lower capital charges would make the XRP route cheaper and faster. Ripple’s RLUSD stablecoin relies on XRP as the bridge asset within its software platform. Navin Gupta explains that Ripple connects order books, swapping GBP‑XRP‑PHP in seconds among regulated institutions. This structure offers rapid settlement and reduced costs while staying compliant.

XRP climbs 3% as the Ripple‑related token’s ETF debuts at the opening of the U.S. market.

The token breached a critical resistance level, accompanied by a 31% increase in trading volume. Simultaneously, Nasdaq approved the United States' inaugural spot XRP exchange‑traded fund.

Gemini Crypto Exchange: Mizuho’s Insightful $30 Target Uncovers a Hidden Opportunity

Mizuho Securities launched coverage of Gemini with an Outperform rating and a $30 price target. The stock trades around $13.80, marking a 56.9% drop since its IPO. Mizuho interprets the decline as a buying opportunity rather than a red flag. The firm labels Gemini a “hidden gem” based on its perceived upside. Gemini is investing in decentralized prediction markets, a nascent segment of blockchain technology. Management is actively pursuing the licenses needed to launch these new lines of business. This innovation focus, combined with a current valuation that under‑reflects future revenue, positions the exchange for strong growth. Regulatory preparation further signals responsible expansion. The post‑IPO price dip offers an attractive entry point for investors willing to tolerate crypto volatility. Success in securing regulatory approvals and rolling out prediction‑market prototypes could act as catalysts for the stock. However, intense competition and a complex regulatory environment remain risks. Mizuho’s thesis hinges on Gemini’s ability to execute its growth roadmap and benefit from broader market rebounds.

Asian markets open with Bitcoin stable and equities varied as Trump signs legislation to reopen the U.S. government.

President Trump signed a funding bill that ends the 43‑day shutdown and funds agencies through January, with some departments financed to FY2026. The deal restores federal pay and restarts key nutrition programs. Bitcoin futures were little changed, while the total crypto market cap slipped 1.5% to $3.53 trillion. Japan’s Nikkei rose 0.5% and the Topix set a record as investors moved from frothy AI stocks to broader sectors. Hong Kong’s Hang Seng eased from a one‑month high, while Shanghai added 0.1%. European indices hit fresh peaks – the FTSE 100, STOXX 600 and Italy’s FTSE MIB reached record levels. Wall Street split, with the Dow hitting a new high and the Nasdaq slipping. The US 10‑year Treasury yield hovered near 4.07% after an earlier bond‑buying surge faded. Gold stayed firm above $4,200 as safe‑haven demand receded. Brent crude slipped to a three‑week low around $62.48 per barrel following OPEC’s outlook for a modest 2026 surplus, easing energy prices. Fiscal clarity removes a headline risk, but Bitcoin remains flat and liquidity stays thin. Traders are watching upcoming US data for clues on interest‑rate direction. Regulators can now resume ETF reviews and broader digital‑asset oversight. Market sentiment is cautiously relieved, with investors positioning selectively.

FanDuel, a U.S. sports betting platform, is set to launch cryptocurrency prediction markets.

FanDuel and CME Group will launch a prediction‑markets platform next month. The new FanDuel Predicts app, rolling out in December, lets users bet on crypto prices, sports outcomes and benchmarks like oil and gold. CME provides derivatives expertise and risk‑management tools, while FanDuel adds its consumer‑friendly interface. Executives say the partnership blends entertainment with traditional finance. Crypto betting is surging, with $27.9 billion traded from Jan‑Oct 2025. New players such as Gemini, Kalshi, Polymarket and Robinhood are entering the space. Analysts warn that sustainable integration will require balancing innovation with responsibility. The growth signals prediction markets are becoming mainstream. Polymarket has become Yahoo Finance’s exclusive crypto prediction‑market provider. Yahoo users will receive real‑time insights from Polymarket’s contract activity. The partnership follows similar alliances that have boosted volume for both platforms. Observers see this as a model for deeper fan engagement.

Breaking: Trump halts government shutdown with a temporary budget plan

President Trump signed a temporary budget bill that ends the 35‑day government shutdown. Federal employees can return to work and receive full back pay. National parks, museums and other agencies resume normal operations. Critical programs such as food stamps and housing assistance are restored. The legislation funds government operations through February 15, giving lawmakers a three‑week window to negotiate a permanent deal. It guarantees back pay for affected workers and reinstates non‑essential services. Essential programs and security staffing continue uninterrupted. The shutdown, the longest in U.S. history, halted about 800,000 federal workers due to a standoff over $5.7 billion for a border wall. The dispute threatened economic stability and disrupted many public services. The temporary bill pauses further damage while negotiations continue. Congress must reach a comprehensive agreement before the February 15 deadline or risk another shutdown. For citizens, tax refunds, business permits, housing loans and food safety inspections will proceed without delay. The resolution provides short‑term relief but highlights the need for a lasting budget solution.

Australia cautions that criminals are exploiting the national cybercrime platform to siphon cryptocurrency wallets.

The police have urged Australians to remain alert, monitor for warning signs, and take steps to protect themselves from cybercrime.

XRP price targets a fresh bullish surge as momentum builds.

XRP has risen above $2.420 and is now consolidating near the 100‑hourly SMA. The level of $2.350 acts as a key floor for further advances. A bearish trend line creates resistance around $2.430 on the hourly chart. If the pair breaks $2.450, the next target is $2.50, followed by $2.58 and $2.65. A clear move above $2.50 could push XRP toward $2.72. Resistance at $2.430 may pause a fresh rally. Strong bullish momentum would be needed to sustain higher levels. Failure to hold $2.450 could trigger a decline toward the $2.3420 support zone. Further weakness may test $2.320 and the 76.4 % Fibonacci retracement. A break below $2.320 could open the path to $2.25 and then $2.20. Below $2.20, the next hurdle sits near $2.12. The hourly MACD is accelerating in bullish territory. RSI stays above the 50 mark, indicating continued buying pressure. Major support sits at $2.3420/$2.320, while key resistance is $2.450/$2.50.

NH NongHyup is considering the Avalanche blockchain to handle stablecoin VAT refunds in South Korea.

NH NongHyup Bank, a leading commercial bank in South Korea, has initiated a proof‑of‑concept project to digitize value‑added tax refunds for overseas visitors. The solution leverages blockchain technology built on the Avalanche network.

House Approves Key Legislation, Preventing a Government Shutdown and Keeping the Nation Operational

The U.S. House passed emergency legislation to avoid a government shutdown. Bipartisan support secured the bill, and President Trump will sign it shortly. The swift action keeps federal services operating without interruption. A shutdown would create market uncertainty, affecting all assets including crypto. The bill ensures regulatory bodies like the SEC and CFTC can continue work on crypto frameworks. It also supports economic confidence and investor trust. Political stability reduces volatility and encourages normal trading patterns in cryptocurrency. With the shutdown averted, regulatory progress is expected to continue smoothly. Investors are less likely to flee to safe havens. The episode shows lawmakers can cooperate on fiscal crises, offering a more predictable environment for crypto development. Future shutdown threats may be handled with similar speed. Crypto participants should stay alert to broader economic signals.

Numerous catalysts indicate XRP could surge this week.

XRP has stayed above the $2.20 support level despite recent market weakness. Analysts expect a retest of the $2.63‑$2.72 resistance zone as the next target. Holding $2.20 is critical for a bullish trajectory. A breach could drive the price down to $1.90‑$2.00. Positive news this week includes speculation about a U.S. spot XRP ETF and the anticipated end of the government shutdown. These factors are needed to sustain the bounce from $2.20 toward higher levels. The abundance of catalysts fuels short‑term trader confidence. Canary Capital’s recent Form 8‑A filing has heightened expectations of a spot XRP ETF, possibly under the ticker “XRPC.” Market sentiment mirrors the rallies seen after Bitcoin and Ethereum ETF approvals. Institutional demand could lift XRP if the fund receives approval. XRP trades around $2.41, down about 2% in the past 24 hours. Maintaining the $2.20 floor is essential for a renewed push toward $2.72. Failure to hold this level may trigger further declines toward the $1.90‑$2.00 range.

Bitcoin Depot’s groundbreaking Hong Kong rollout: 223 new ATMs reshape crypto access across Asia

Bitcoin Depot entered the Asian market with 223 Bitcoin ATMs across Hong Kong, marking its first regional rollout. The city was chosen for its strong cash‑to‑crypto demand, tech‑savvy population, and supportive regulatory framework. Partnerships with local businesses eased compliance and ensured reliable service points. This deployment creates instant, 24/7 Bitcoin access on the city’s streets. The ATMs offer quick cash purchases, user‑friendly interfaces, and greater privacy than online exchanges. Their widespread locations address convenience and trust concerns for both newcomers and seasoned traders. Deploying the network required navigating financial laws, coordinating infrastructure, and educating users on ATM usage. Strategic planning and local expertise helped the company meet these challenges while maintaining service quality. The successful Hong Kong rollout demonstrates that physical crypto infrastructure can thrive in mature financial markets. It sets a precedent for other Asian cities with robust tech, progressive regulations, and high smartphone penetration. Future expansions are likely to follow a similar model, leveraging local partnerships and compliance strategies. Users can maximize the service by checking identity requirements, transaction limits, and locating nearby machines via the official app.

Sharplink announces a net profit of $104.3 million for the third quarter.

Hearing Set for Congressional Stock Ban Bill Amid Growing Delay Concerns

The proposal to prohibit members of Congress from trading stocks, intended to prevent insider trading, will be considered at a committee hearing instead of undergoing an immediate markup. This scheduling choice has sparked worries that the legislation could face unnecessary delays.

A Dubai court has frozen $456 million linked to Justin Sun’s rescue of TrueUSD issuer Techteryx.

The Dubai Digital Economy Court found compelling proof of a breach of trust and issued a worldwide freeze on the assets to protect them.

Future Outlook for Bitcoin: An Analysis Firm Reviews Recent Developments

Bitcoin has steadied near $103,000 after a pullback in the U.S. session. QCP notes the crypto asset is tracking overall market risk sentiment. The price holds despite lingering uncertainty from the government shutdown. News flow continues to drive short‑term movements. A partial shutdown persists, but the Senate approved a temporary budget lasting until Jan 30 2026. This "time‑buying" measure aims to avoid holiday disruptions but does not solve the underlying funding gap. Markets now expect a shutdown resolution between Nov 12‑15. Weak ADP employment figures revived concerns over a softening labor market ahead of the Dec 9‑10 FOMC meeting. The data supports the Fed’s cautious easing stance. Private indicators, like the NFIB Small Business Index, show modest declines in sentiment and sales expectations. QCP warns that shutdowns, tariffs, credit market swings, and soft data could spark Q4 volatility. Potential Fed rate cuts and solid corporate earnings may buoy risk appetite and Bitcoin. The longer‑term view for 2026 remains positive under a growth‑friendly fiscal and monetary framework.

Key Fed Rate Cut Prediction: White House Advisor Discloses a Practical 25 Basis Point Decrease

White House NEC chair Kevin Hassett says a 25‑basis‑point Fed cut is more likely than a 50‑bp reduction. He cites modest inflation, stable growth data, and the Fed’s preference for gradual moves. Aggressive easing isn’t justified by current economic indicators. Market expectations often outrun the central bank’s actual actions. Hassett disclosed that, if he sat on the FOMC, he would support a rate cut. He believes the economy can tolerate only a modest stimulus. However, he cautions that Chairman Jerome Powell may take a different approach. This highlights how individual viewpoints can shape policy outcomes. A 25‑bp cut signals confidence in economic stability, affecting bonds, equities, and currencies differently. Bond yields may edge lower, while equity growth forecasts could be revised modestly. Currency values might adjust to new interest‑rate differentials. Investors may need to recalibrate long‑term strategies. Hassett’s comments carry weight, but the final decision rests with the whole FOMC and evolving data. Key indicators to watch include employment, wage growth, inflation reports, and sector performance. Global trade and manufacturing trends also influence the Fed’s calculus. Market participants should stay adaptable as new information emerges.

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Funtico launches the EV2 presale in preparation for its upcoming Web3 game Earth Version 2

Funtico has opened a presale for $EV2, allocating 40% of the fixed 2.88 billion supply to early buyers. The token powers Earth Version 2, enabling equipment upgrades, marketplace trades and achievement rewards. Purchases can be made with ETH, USDC, USDT, BTC, BNB, SOL, SUPER or credit card, and orders over $1 K receive a 10 % TICO bonus. Earth Version 2 is a sci‑fi MMO shooter set on a newly discovered planet where alien ruins meet advanced human tech. Players choose from five classes—Brute, Cloaker, Mag, Pathfinder and Valkyrie—and compete in modes like Oblivion and Fracture. The title emphasizes deep customization, large‑scale combat and blockchain‑backed true ownership of assets. While prior Funtico projects ran on Avalanche, the $EV2 token presale uses Ethereum to tap broader liquidity and market exposure. After launch, EV2 will be available on Funtico’s own platform, Steam, the Epic Games Store, with a console version planned later. This multi‑platform approach aims to match mainstream PC and console experiences. Current focus is on gameplay testing and onboarding as the presale closes, with partnerships slated for Q1 2026. A full game release and token generation event are targeted for Q2 2026, followed by ongoing tournaments and seasonal rewards. Presale participants will gain early access to exclusive asset bundles when the EV2 marketplace opens.

Key details of JPMorgan's JPMD on Base, the most significant traditional finance initiative.

Could this be the hidden strategy Wall Street uses to stay ahead of cryptocurrency regulations?

Economists caution that Labour Force Survey data may be unreliable as UK unemployment climbs to 5%

The latest ONS data show unemployment rose to 5% in the three months to September, a 0.2‑point jump and the highest since the pandemic began. The spike prompted opposition MPs and market traders to anticipate a December rate cut and pushed two‑year gilt yields to a one‑year low. Nonetheless, several economists warn the increase may reflect statistical noise rather than a genuine labour‑market weakening. The Labour Force Survey has faced low response rates and sampling volatility, leading the ONS to pause and later revive its headline figures. Analysts such as Megan Greene of the BoE and economists at RSM and Pantheon note inconsistencies and suggest alternative indicators show a steadier employment picture. Revised tax and payroll data, while showing a drop of around 180,000 jobs after the budget, are also subject to frequent adjustments. Chancellor Rachel Reeves’ first budget, which raised payroll taxes, has drawn criticism from Reform UK and the Conservatives amid concerns over job losses. The BoE is monitoring the labour market closely, with the latest data influencing speculation that a rate cut could arrive in December rather than February. Despite the debate, the reliability of official unemployment numbers remains a key factor for future monetary and fiscal decisions.

Upexi’s Solana Treasury Initiative Boosts Quarterly Earnings to a Record $66.7 Million

Upexi, Inc. posted its highest quarterly profit in the first quarter of FY2025, driven by a blockchain‑focused treasury. Revenue climbed to $9.2 million, up from $4.4 million a year earlier, with $6.1 million coming from Solana assets. The company’s Solana‑centric approach turned its balance‑sheet cash into a high‑yielding revenue source. Gross profit surged 183% to $8.3 million, powered by staking returns from Solana holdings. Net income flipped to $66.7 million after a $1.6 million loss the prior year, thanks to an unrealized $78 million gain. Cash on hand stood at $2.2 million, and 59.9 million shares were outstanding as of November 12. Upexi secured a $200 million private placement of common stock and convertible notes, plus a $500 million equity line with A.G.P. to fund further Solana treasury growth. An advisory committee now includes market veterans Arthur Hayes, S◎L Big Brain, and Jon Najarian. The firm also presented its outlook at the FT Partners FinTech and Cantor Crypto & AI/Energy Infrastructure conferences. Despite the earnings beat, the shares fell 4.18% to $3.21 at the close, though pre‑market trading showed an 8.10% rise to $3.47. The stock has lost more than half its value over the past month, but the latest uptick hints at renewed interest from short‑term traders.

Specialist tells XRP owners: Pay attention if your assets are kept on a ledger.

Mickle warned XRP owners using Ledger devices to avoid any interaction with the hardware. He urged users to “never touch” the wallet, meaning no connections, firmware updates, or transactions. The message highlights that each use creates a new attack surface, even on highly secure devices. Cybercriminals now target human behavior as much as technical flaws. Social‑engineering scams, counterfeit hardware, and fake support emails are increasingly common. This multidimensional threat environment makes it hard to anticipate new attack vectors. Limiting interactions reduces exposure to malware and phishing traps. Treat the Ledger as a sealed vault for long‑term storage rather than a daily‑use wallet. Minimal contact keeps the asset’s attack surface as small as possible. Buy hardware only from official channels and initialize it offline. Safeguard recovery phrases with the same care as priceless assets. Combining robust technology with disciplined habits is essential to stay ahead of evolving digital threats.

HTX Trading Championship heats up: Earn $200,000 in the individual contest through spot and futures trading

HTX launches a global Trading Championship with a prize pool exceeding $1 million. The contest targets skilled traders to navigate heightened crypto volatility. Participants can compete in spot and futures markets for substantial rewards. The event highlights HTX’s position as a leading exchange. Three stages run from Oct 31 to Dec 16: a Points Challenge, an Individual Challenge, and a Team Challenge. The Individual segment offers $200,000 across spot and futures, while teams vie for $400,000. New users receive a $50,000 welcome bonus and trial credits. Winners may also earn doubled bonuses. Running Nov 11‑26, the Individual Challenge splits $100,000 each for spot and futures trading. Spot traders need $1,000 cumulative volume to rank; futures traders require $10,000. Top spot and futures spots win $30,000, $20,000 and $10,000 respectively, with remaining prizes shared among qualifiers. New entrants get a $3 HTX token credit for their first trade. Founded in 2013 as Huobi, HTX now offers a full blockchain ecosystem including trading, derivatives, research and incubation. The platform emphasizes security, compliance and global expansion. More information is available at htx.com and via its social channels.