Bessent Prepares to Increase His Influence Over the Fed
US President Trump stated that he will announce the next Fed Chair in early January and that the nomination process is being managed by Treasury Secretary Scott Bessent. It is said that Bessent has created a comprehensive agenda for change at the Fed as part of this process. This approach is thought to aim at a more compliant Fed structure that will encourage interest rate cuts. It seems likely that a Fed Chair open to cooperation will give the Treasury more say in asset purchase and sale policies.
Michael Saylor: Bitcoin’s Free Use Should Be Supported, Protocol Should Not Change
Michael Saylor said he supports the free use of the Bitcoin network by everyone but opposes changes to the core protocol. He emphasized that applications such as Bitcoin Ordinals should not be censored. However, he stated that he does not consider it appropriate to add new features at the protocol level to encourage these use cases. According to Saylor, Bitcoin’s true value lies not in technological additions but in its monetary integrity. He argues that the market should determine its direction naturally.
Greeklive: Option Data Alone is Insufficient as a Trading Signal
Greeklive noted that the options market has experienced significant volatility recently. Therefore, it was emphasized that trading based solely on option data is not sound. It is stated that disruptions in liquidation mechanisms increase market volatility. In particular, low-liquidity assets appear to be subject to sharp price movements. Analysts believe that risk management and market structure will be a priority in 2026.
Morgan Stanley: Productivity Growth May Force the Fed to Cut Interest Rates Further
Morgan Stanley strategists predict that the US may experience a “jobless productivity boom.” Data shows that hourly productivity in non-agricultural sectors increased by 3.3% in the second quarter. This situation could suppress inflation, creating room for the Fed to implement new interest rate cuts. Investors are pricing in a more aggressive interest rate cut path than the Fed’s official expectations. According to CME FedWatch data, the probability of an interest rate cut by the end of the year stands at 72%.
CoinGlass: Crypto Liquidations Could Reach $150 Billion
According to CoinGlass, the total liquidation volume in the crypto derivatives market could reach approximately $150 billion in 2025. The average daily liquidation amount is expected to be around $400-500 million. The liquidations that occurred on October 10–11, exceeding $19 billion, were particularly noteworthy. This process was triggered by increased risk aversion following the US’s tariff announcements against China. The report emphasizes that fragilities in the liquidation mechanism increase market volatility.
Russia’s Major Exchanges Prepare to Open to Crypto Trading
The Moscow Stock Exchange and the St. Petersburg Exchange have announced their support for the new crypto regulations. Crypto trading services will be launched once the legal framework comes into effect. The annual investment limit for individual investors will be capped at 300,000 rubles. For qualified investors, there will be no restrictions except for privacy-focused coins. This step is considered critical for the institutionalization of the cryptocurrency market in Russia.
Streamflow Introduces USD+, a Yield-Generating Stablecoin on Solana
Streamflow has launched USD+, an interest-bearing stablecoin on the Solana network. The token is backed by short-term US Treasury bills. Returns are distributed daily to wallets without any lock-up or staking requirements. USD+’s estimated annual return is approximately 3.6%. The project is currently available with an early access waiting list.
“Lighter Airdrop” Bet Priced at 93% Probability on Polymarket
According to Polymarket data, the betting volume on Lighter conducting an airdrop before December 31 has reached $10.7 million. The current probability is priced at 93%. High participation indicates strong market expectations for an airdrop. Such bets provide important signals for gauging community expectations. However, official announcements are awaited for definitive results.
Ethereum Plans Two Hard Forks in 2026, Gas Limit May Increase
The Ethereum network is expected to undergo two major hard forks in 2026. The Glamsterdam fork is planned for mid-year, followed by the Heze-Bogota fork at the end of the year. The Glamsterdam fork includes innovations such as Block Access Lists, which will enable parallel processing. This aims to increase efficiency without significantly increasing hardware requirements. There is also talk that the gas limit could rise to 200 million.
