Market Performance
| Asset / Index | Value ($) | Daily Change (%) |
|---|---|---|
| Bitcoin (BTC) | 91,622.0 | +1.27% |
| Ethereum (ETH) | 3,129.76 | +2.25% |
| Bitcoin Spot ETF | +54.80M | Net Inflow |
| Ethereum Spot ETF | -75.20M | Net Outflow |
| Nasdaq (NAS100) | 25,769.2 | +0.28% |
| S&P 500 (SPX) | 6,870.39 | +0.19% |
| Russell 2000 (RUT) | 2,529.9 | +0.22% |
| U.S. Dollar Index (DXY) | 98.571 | -0.09% |
| VIX Volatility Index | 15.41 | -2.34% |
| U.S. 10-Year Yield | 4.13806 | +0.83% |
| Brent Crude Oil (BRENT) | 64.314 | -0.01% |
| LBMA Gold (XAU) | 4,206.92 | +0.30% |
| LBMA Silver (XAG) | 58.150 | +0.01% |
“Prepared at UTC 07.53 am”
Today’s Key Events
- President Trump Roundtable Meeting
- Bitcoin MENA Day 1— UAE, Abu Dhabi
- GameStop Earnings Report
White House Releases Trump’s New National Security Strategy
- The White House has unveiled Trump’s new National Security Strategy for his second term, which is more pragmatic, focused on “America First,” and centers on economic competition. The document largely frames China as an economic threat and emphasizes a non-interventionist foreign policy. The strategy prioritizes goals such as reducing immigration, reshoring supply chains, reindustrialization, and regaining energy supremacy. It also states that allies must shoulder more defense responsibilities and that trade imbalances must be reduced.
- The strategy highlights limiting Chinese influence in the Western Hemisphere, shifting supply chains to the US, and combating illegal immigration. In the Asia section, it states that the US aims to win economic competition, avoid military conflict with China, but will accelerate trade, technology, and supply chain decoupling. For Europe, it is anticipated that the war in Ukraine will end quickly, the region will take charge of its own defense, and its dependence on Russian energy and the Chinese market will be reduced. In the Middle East, the transition from a US-centered structure to a joint-centered structure is emphasized, while in Africa, a shift from an aid model to an investment model is planned.
China-US Economic Talks Continue
- Chinese Vice Premier He Lifeng and his US counterparts Bessent and Greer held constructive talks on implementing existing agreements and addressing economic concerns.
- Greer stated that the US does not want a full-scale economic conflict with China and that maintaining stable relations is a priority.
- Both sides emphasized that the process following the Busan summit would be advanced through mutual communication.
Radar Tension Between China and Japan Escalates
- Japan lodged a strong diplomatic protest, claiming that Chinese military aircraft locked their radar onto Japanese fighter jets twice off the coast of Okinawa.
- China, however, accused Japan of “slandering” it, arguing that Japanese aircraft had approached too close to its training area and harassed it.
- The tension turned into a regional security debate when Australia also stated that it was following the situation with “deep concern.”
US and Ukraine Agree on “Peace Plan Framework”
The US and Ukraine made progress on a peace plan framework to end the war, but talks are progressing slowly due to the complexity of the process. Post-war reconstruction, joint economic ventures, and long-term recovery projects were evaluated during the talks. Following meetings with US special envoys, it was emphasized that lasting peace depends on commitments made by Russia. The parties agree that progress is only possible if Russia accepts the minimum conditions.
Fed Rate Cut Expectations in the US Focus on Powell
This week’s Fed meeting is expected to be one of the most critical meetings in recent years, and the market is focused on the messages Powell will deliver. Analysts note that differences in opinion among policymakers regarding interest rate cuts may become apparent. Janus Henderson expects short-term volatility, while Wilmington Trust emphasizes that the main impact will come from the Fed’s guidance. Nomura says the market has not sufficiently priced in the risk of no rate cut in December.
Argentine Central Bank Considers Lifting Crypto Ban
The Argentine Central Bank is working on a new framework that would allow banks to offer crypto trading and custody services. This step signals a shift in crypto policy from “prohibition to regulation.” If implemented, banks could compete directly with local crypto platforms, potentially leading to lower fees. However, regulators will need to clarify capital and liquidity standards to ensure stability.
Spot Crypto ETF Approval in South Korea Unlikely This Year
According to Naver, spot crypto ETFs are not expected to be approved in Korea this year, and there are significant delays in the relevant bills. The National Assembly has yet to make progress on the definition of crypto ETF underlying assets, custody rules, and regulations for derivatives markets. The process has slowed further due to the restructuring of regulatory agencies. Authorities are primarily focusing on the “Digital Asset Framework Act.”
Trump: Russia’s Eastern Europe Plan Accepted, Zelensky’s Stance Unclear
Trump said Russia’s plan to end the conflict in Eastern Europe has been accepted. However, he stated that there is uncertainty as to whether Zelensky supports this proposal. Trump also expressed disappointment that Zelensky has not yet reviewed the plan.
Bank of Japan Signals Interest Rate Hike, Investors Still Bet Against the Yen
Despite BOJ Governor Ueda signaling an interest rate hike, investors believe the yen will continue to weaken. Institutions such as Bank of America and Nomura indicate that positions are still betting on the rise of the dollar/yen parity. Citi’s “pain index” shows that negative market sentiment towards the yen persists. The expectation that even if Japan raises interest rates, yields will remain below those in the US is causing the stance to remain unchanged.
Japan’s 10-Year Bond Yield Hits 17-Year High
Japan’s 10-year government bond yield rose to 1.965%, its highest level since June 2007. This rise signals growing expectations for the BOJ to normalize its policy.
Macron: Relaxation of US Crypto Regulations Could Create Global Risk
French President Macron said that financial instability could arise if crypto regulations in the US are relaxed. He emphasized that the uncontrolled growth of dollar-backed stablecoins could trigger the spread of global risk. He also called on the ECB to update its monetary policy against new financial risks.
US SEC to Hold Roundtable Meeting on Crypto Regulations and Privacy on December 15
The SEC’s Crypto Asset Working Group will hold a public meeting on December 15 to address financial regulation and privacy issues. The meeting will take place at SEC headquarters and will be broadcast live online. The aim is to conduct a comprehensive assessment with experts in relevant policy areas.
BRICS Launches Prototype of Gold-Backed Digital Currency “Unit”
BRICS countries have released a working prototype for the digital currency “Unit,” backed by a reserve consisting of 40% gold and 60% member country currencies. Initially, 100 Units were issued, pegged to 1 gram of gold. The project is not yet official policy but is seen as an important step away from dollarization. The value of the unit fluctuates daily based on the exchange rate of the reserve assets against gold.
Canada Revenue Agency Accesses Data of 2,500 Dapper Labs Users
The Canada Revenue Agency (CRA) has obtained data on Dapper Labs users in its second investigation into crypto tax evasion. The agency’s crypto audit team has collected over $72 million in taxes over three years, but no criminal charges have been filed since 2020. The CRA notes that determining the tax status of crypto users remains challenging, with four of five criminal investigations still ongoing. This decision marks the second time such a data request has been made, following a similar request for Coinsquare in 2020.
Uniswap CCA First Auction Reaches $59 Million Bid
Uniswap founder Hayden Adams announced that the first Uniswap CCA auction launched by Aztec Network has concluded with a total bid of $59 million. He stated that the process proceeded with slow and fair price discovery, without any manipulation or timing games. The final price was 59% higher than the base price, and part of the proceeds will be used to launch the Uniswap v4 liquidity pool.
Hyperliquid Connects USDC Between HyperCore and HyperEVM
Hyperliquid announced that USDC now operates seamlessly between HyperCore and HyperEVM. It was revealed that the Arbitrum bridge will be removed in the future, and USDC will be produced entirely through a native minting method. There are currently no interruptions or restrictions for users and developers.
CZ: “I Post My Own Twitter Updates”
CZ responded to the community’s question, “Who manages Twitter?”, stating that he posts all content himself. He emphasized that an assistant has access but rarely posts anything. The Binance team acknowledged community concerns regarding suspicious meme coin posts and reported that an internal investigation is ongoing.
SOL Spot ETFs Saw $20.3 Million Inflow Last Week
According to SoSoValue data, SOL spot ETFs recorded a total net inflow of $20.3 million during the week of December 1–5. The highest inflow was $65.11 million in the Bitwise BSOL fund, while FSOL saw a net inflow of $14.11 million. The highest net outflow was seen in the 21Shares TSOL fund, at $73.91 million.
$231 Million Weekly Inflow into XRP Spot ETFs
XRP spot ETFs recorded a total net inflow of $231 million last week, marking their fourth consecutive week of positive performance. The largest inflow went to the Grayscale GXRP fund with $140 million, while the Franklin XRPZ fund ranked second with an inflow of $49.29 million. With these inflows, GXRP’s total net flow reached $212 million.
