What's happening: Bitcoin ETF Custody Concentrates Power, Raising Systemic Risk
Spot Bitcoin exchange‑traded funds now hold over $54 billion, roughly 1.5 million BTC. The ETF structure places the underlying coins in a trust controlled by a handful of custodians, with Coinbase identified as the dominant custodian, creating a single point of operational failure.
Also developing:

Bitcoin and ether surged past key technical levels after the Bank of Japan raised rates to a three‑decade high, lifting Asian risk appetite. Bitcoin broke $87,000 while ether climbed alongside a 2 % rise in the CoinDesk 20 index, as equities in the region rallied. The rally coincided with $576 million in crypto liquidations, highlighting high leverage, and long‑term Bitcoin holders nearing the end of a two‑year sell‑off. Nonetheless, the bounce is driven more by macro relief than strong crypto conviction.

Real Vision founder Raoul Pal warned that Zcash's recent surge may stem from capital rotation rather than a genuine market uptrend. The privacy token has rallied 699% since the start of the year but slipped about 37% over the past...

The U.S. Securities and Exchange Commission sued Bitcoin mining firm VBit, alleging it sold more hosting agreements than it could support and misappropriated about $48 million, classifying the contracts as securities under the Howey test. The SEC claims investors relied on...

Bitwise has submitted a Form S‑1 to the SEC to launch a spot Sui exchange‑traded fund, with Coinbase Custody designated as the custodian. The fund would track the native token of the Sui Network, a layer‑1 blockchain currently ranked 31st...

Despite a suite of bullish catalysts—including heightened liquidity, pro‑crypto regulatory signals, new ETF launches and growing institutional exposure—cryptocurrency markets are heading lower, with total market capitalization down more than 32% from its $4.4 trillion peak and nearly 13% below the start...

President Donald Trump secured Senate confirmation for his crypto‑friendly nominees, Mike Selig as CFTC chairman and Travis Hill as FDIC chairman, with a 53‑43 vote. Selig, a former SEC official, inherits a CFTC commission reduced to a single member and...
Robinhood is doubling down on crypto and tokenization 💫 In this Unchained episode, Johann Kerbrat joined me to unpack: 💥 Robinhood's 3x crypto revenue growth in Q3 📈 Why the company chose Ethereum over Solana ⚔️ How Robinhood views competition...
Don’t fight the BOJ: -ve real rates is the explicit policy. $JPY to 200, and $BTC to a milly. https://t.co/PdZh87ruVI

Synthetix announced its return to Ethereum mainnet after a three‑year hiatus, citing dramatically lower gas fees and recent layer‑1 scaling upgrades. The network’s average fee has dropped to roughly 0.71 gwei, a 26‑fold reduction from a year ago, making high‑frequency perpetual...
How about web3 adopts : to have global address space? This would simplify UI and avoid lots of mistakes for users especially of L2s.
Privacy of money and payments is critical for mass adoption of crypto. We have built better financial rails but are stuck using 15 year old approach to creating trust on internet - putting everything in plaintext. Time for an upgrade.

The Digital Asset Market Clarity Act, known as the CLARITY Act, is slated for a Senate markup in January, according to White House AI and crypto adviser David Sacks. The bipartisan bill, already cleared by the House, seeks to define...
Went live on @tbpn earlier to talk about all our new product releases, and how we're going to make Coinbase the #1 financial app Starts at 59:50 https://t.co/D3t0TAvc9Q
Firedancer killed based sequencing.

Synthetix is launching a perpetual derivatives DEX on Ethereum mainnet that uses a hybrid on‑chain/off‑chain central limit order book to sidestep latency and high gas fees. The platform debuts Bitcoin, Ethereum and Solana perpetual contracts with up to 50× leverage,...
Testing prediction markets and stock trading on the Coinbase app, which are rolling out in the U.S now https://t.co/2jjL5MS0eC
Excited to welcome @George_Osborne to Coinbase as Chair of our Global Advisory Council. Our mission is to update the global financial system and increase economic freedom. George’s experience at the highest levels of global finance is a massive asset as we...

In this episode, Pixion Games founder and CEO Kam Punia draws on his experience with global franchises like Yu‑Gi‑Oh! to explain how his studio builds competitive, mobile‑first games, focusing on their flagship title Fableborne—a fast‑paced action RPG with hero collection,...
Cardano's Charles H said Trump’s memecoin launch and personal crypto ventures turned crypto into a partisan issue, derailing bipartisan progress on regulation. He argued it blurred policy and personal interest, hurting the industry’s credibility and long-term prospects. Source: Decrypt
A sea change in crypto regulation? 🤔 In this episode of DITC, Jill Gunther joins hosts Katherine Kirkpatrick Bos & Jessi Brooks to unpack: 📝 Why the SEC's recent roundtable felt so good (after years of Gensler) 🤧 Why Jill...

Bitcoin slipped below the critical $85,000 support, touching $84,500 before a modest rebound, erasing its earlier rally to $89,500. The breach sparked roughly $550 million in derivatives liquidations, affecting both long and short positions. Altcoins led the sell‑off, with Solana falling...

Cointelegraph argues that core cypherpunk principles—privacy, self‑sovereignty and decentralization—are rapidly eroding in today’s data‑driven society. The piece cites recent controversies, such as Vitalik Buterin’s mixer donation, to illustrate growing stigma around privacy tools. In response, Cointelegraph is launching a weekly show,...

Intercontinental Exchange (ICE), the parent of the NYSE, is in talks to invest in crypto‑payments firm MoonPay as part of its $5 billion valuation round, though the exact amount remains undisclosed. ICE previously committed $2 billion to prediction market Polymarket, valuing that...
It's very likely that the trend keeps going down until the BoJ comes out with the news. Wouldn't be surprised if $BTC continues to cascade and gets itself into a form of capitulation in the next 24 hours as the...

An update on the $BTC chart. Great CPI news, some upwards momentum, and then, again, a harsh correction. It's clear that the $88K level is the ultimate one, and that's what the markets need to break up in order to be...

Lido DAO has unveiled a $60 million budget to broaden its product suite beyond liquid ETH staking, targeting stablecoin yield offerings for institutional users. The proposal, named “2026 Ecosystem Grant gRequest (EGG): Executing GOOSE‑3,” seeks to create new earn products and...

Bitcoin Policy Institute strategist Conner Brown warned that a de minimis tax exemption being debated in Congress appears limited to dollar‑pegged stablecoins, leaving Bitcoin transactions unprotected. Senator Cynthia Lummis’s bill proposes a $300 threshold with a $5,000 annual tax‑free cap, plus...
One of the most unintuitive things I’ve learned about investing is that technical DD does not matter beyond understanding something is not violating the laws of physics For any given hard terminal technical problem, some % of engineers will net out...
Bitcoin and ether treasuries look cheap on paper, but without a redemption mechanism, “cheap” can stay cheap for a long time. Steven Ehrlich investigates https://lnkd.in/e5Pfm8H2

James Check’s on‑chain analysis shows Bitcoin’s price masks deeper market shifts. Leverage has fallen while the average cost base rose, leaving many investors underwater. Coins of all ages are re‑entering the market faster, increasing supply pressure. Check argues that ETFs,...
Great coverage of our prediction markets partnership with @ERShares https://t.co/S2Wq7nFa07
The Most Uncomfortable Phase of Crypto Has Begun When adoption rises but prices don’t https://t.co/NR4HTsU7As https://t.co/bKVgODsDvL

ECB President Christine Lagarde announced that the central bank has finished the technical and preparatory work for a digital euro, shifting the next steps to political approval by the European Council and Parliament. The ECB kept key interest rates unchanged,...
I met with @intangiblecoins at my home in Miami to discuss the year in digital assets, capital, and credit; the latest Bitcoin controversies; and how @Strategy is digitally transforming capital markets and global banking through digital money. https://t.co/RFUgmlQgOc
See you in an hour at @PubKey DC! #BitcoinisforEveryone https://t.co/T5yH09xlrT

Intuit announced a multi‑year strategic partnership with Circle to embed the USDC stablecoin across its flagship platforms, including TurboTax, QuickBooks, Credit Karma and Mailchimp. The collaboration promises faster, lower‑cost payments for business transactions, tax refunds and marketing services. USDC, the...
The Zcash torch moves on to set Zami Manian. Privacy is normal. https://t.co/9MDyghQD4L
Bitcoin and ether treasuries look cheap on paper, but without a redemption mechanism, “cheap” can stay cheap for a long time. @steven_ehrlich investigates https://t.co/QM3f37zPFM

Bitcoin’s realized capitalization—a metric that values each coin at its last moved price—has hit a record $1.125 trillion, even as the cryptocurrency’s price has fallen nearly 40% over the past ten weeks. Glassnode data shows the realized cap continued rising through...
🇯🇵We asked @TimWarrenTrades if the bottom is in and if BOJ rate hike is priced in...👇👇👇 $BTC $ETH $SOL $XRP https://t.co/VK1KcPDicU
ZKsync joins Starknet in proposing L2/trustless-bridge upgrades for Zcash: https://t.co/HeVliLIuQT Sounds like it might be possible for Zcash to do better than current-Ethereum in concentrating liquidity and in minimizing trust assumptions?
Solana wants to be the decentralized Nasdaq. On @bitsandbips, @perkinscr97 explains why speed and throughput are necessary — but why derivatives, liquidity, and market depth are the real test 👇 https://t.co/N4Wp2mDfrj

SOLANA IS IN DANGER 🚨 Losing $120 on the weekly could see it head sub-$100 next https://t.co/Vtt8oPgQZ8
My typical day in crypto https://t.co/ZyPQjZjVZU
This is another problem with crypto payments. Short term, using a CEX avoids it (but the CEX will have that info). Long term, need a proper privacy solution.
"We ingest the data from the loan - so credit, title, property, income - directly into the blockchain... The importance here is that the blockchain is immutable." - Mike Cagney, CEO of Figure Technology Solutions
We are gonna get every asset on the planet on chain in this bear market. Even bears will be tokenized
As you know, I'm super positive about $LINK. The amount of fundamental growth they are building for the entire industry is insane. Recently, a new tool was launched to be onboarding institutions. What is it? Watch it here, with @SergeyNazarov: https://t.co/EYkies0XCI
"Where mNAVs across the board are less than 1. What that means is investors are now valuing these companies even less than the value of their crypto holdings." - Steve Ehrlich, Executive Editor @Unchained_pod, discussing the drop in DATs' market prices.
Most DATs are trading at 50% discount. Is this a trap or a unique opportunity? 🧐 Catch the full conversation here: