Market Performance
| Asset / Index | Value ($) | Daily Change (%) |
|---|---|---|
| Bitcoin (BTC) | 86,110.0 | -0.49% |
| Ethereum (ETH) | 2,923.26 | -1.39% |
| Bitcoin Spot ETF | -358.19M | Net Outflow |
| Ethereum Spot ETF | -224.80M | Net Outflow |
| Nasdaq (NAS100) | 24,843.1 | -0.95% |
| S&P 500 (SPX) | 6,816.52 | -0.16% |
| Russell 2000 (RUT) | 2,521.4 | -0.20% |
| U.S. Dollar Index (DXY) | 97.889 | 0.00% |
| VIX Volatility Index | 16.50 | +4.83% |
| U.S. 10-Year Yield | 4.1800 | -0.25% |
| Brent Crude Oil (BRENT) | 60.539 | -0.13% |
| LBMA Gold (XAU) | 4,284.14 | -0.48% |
| LBMA Silver (XAG) | 62.962 | -1.50% |
“Prepared at UTC 07.50 am”
Today’s Key Events
- US President Trump Attends Ambassador Credentialing Ceremony
- Nonfarm Payrolls, Jobless Claims, and Retail Sales in US Data Set
- December PMI Data in the Eurozone
- Unemployment Data in the UK
- Arbitrum Token Unlock
Statements from Fed Members
- John Williams (Fed Vice Chair, dovish): Williams stated that while inflation remains high, he supports a December rate cut, but said it is too early for further cuts. He noted that the labor market is gradually cooling, inflation risks are diminishing, and shifting monetary policy from a mildly restrictive stance to neutral positions well prepares the Fed for 2026.
- Susan Collins (Boston Fed, neutral): Collins said that downside risks to inflation have increased, supporting a December rate cut. She noted that current data points to a reduced likelihood of inflation rebounding.
- Fed Official Miran (Governor, Dovish): Arguing that tariffs are not the main source of inflation, Miran said she expects a faster decline in housing inflation. She emphasized that core inflation is hovering around 2% and that faster rate cuts will allow the Fed to reach the neutral rate sooner.
“Technology Power” Program from the Trump Administration
The Trump administration has launched a two-year “Technology Power” program to increase the technological capacity of federal agencies. The program plans to recruit approximately 1,000 engineers into the public sector. Many agencies, including the Departments of Defense, Commerce, Treasury, and Energy, will participate in the program. The focus areas will be artificial intelligence, software development, data modernization, and digital public services. The goal is to hire extensively from major technology companies such as AWS, Microsoft, Google, Nvidia, OpenAI, and Coinbase.
Progress in Russia-Ukraine Talks, But Land Issue Persists
US officials announced that significant progress had been made on security guarantees for Ukraine during talks in Berlin. Washington is committed to helping defend Ukraine in the event of a renewed Russian attack and to supporting Europe’s security framework. While the parties are said to have reached approximately 90% agreement on many issues, the land issue remains the main obstacle. The US has clearly stated that it will not send ground troops to Ukraine. Moscow is expected to oppose security arrangements similar to NATO’s Article 5.
Multinational Force Decision for Ukraine from Europe
Germany, France, the UK, and many European countries announced that a multinational force will be established to support Ukraine. This force is planned to contribute to the restructuring of the Ukrainian army, airspace security, and maritime security. It was stated that the scope of the force would also include certain military activities on Ukrainian territory. European leaders view this step as part of a long-term security architecture. The announcement came while peace talks with Russia were ongoing.
Trump: Peace Agreement Closer Than Ever
US President Trump said that a Russia-Ukraine peace agreement is closer than ever. He said he had held many meetings with Putin and received strong support from European leaders. US officials say Washington and Kiev have reached agreement on about 90% of the key issues. It was announced that US envoys could travel to Russia to continue the talks if necessary. Ukrainian President Zelenskyy emphasized that progress had been made but that differences of opinion on territory continued.
SEC Chairman: Crypto is a Powerful but Risky Tool for Financial Oversight
SEC Chairman Paul Atkins said cryptocurrencies could become a powerful tool for financial oversight. However, he warned that excessive government intervention could threaten individual privacy. Atkins stated that if misdirected, blockchain could become the most comprehensive surveillance infrastructure in history. He stated that tracking every wallet and transaction carries the risk of a “financial panopticon.” Nevertheless, he argued that innovation and privacy can be protected together.
November Economic Data in China Signaled Weakening
Industrial production in China rose 4.8% year-on-year in November, falling short of expectations. Fixed asset investments contracted by 2.6% in the January-November period, while the sharp decline in real estate investments was notable. Retail sales rose by only 1.3% in November, indicating continued weakness in domestic demand. In particular, the annual decline of over 31% in real estate investments points to deepening economic pressures. The urban unemployment rate remained unchanged at 5.1%.
Fed Chair Nominee Kevin Hassett Sparks Debate
According to CNBC, Kevin Hassett, one of the leading candidates for Fed chair, is facing backlash from some senior figures close to Trump. These White House insiders believe Hassett’s personal closeness to Trump could undermine the Fed’s independence. Bond investors are also concerned that Hassett may be overly compliant with Trump’s interest rate expectations. It is stated that this situation could disrupt market stability and raise long-term bond yields. In the prediction market Polymarket, Kevin Warsh’s chances of becoming Fed chair have surpassed those of Hassett.
Kevin Warsh: Inflation is the Fed’s Choice
In prediction markets, Kevin Warsh’s odds of becoming the next US Federal Reserve chair have risen to the top. According to Deutsche Bank, Warsh may support conducting interest rate cuts and balance sheet reduction (QT) simultaneously. It is noted that this would only be possible with regulatory reforms that reduce the banking system’s reserve requirements. Warsh argues that the source of inflation is not supply chains but the Fed’s policy choices. While calling on the Fed to return to its price stability mission, he views productivity gains driven by artificial intelligence and deregulation positively.
Strategy CEO: Bitcoin Reserves Sufficient Until 2100
Strategy CEO Phong Le announced that the company has sufficient Bitcoin reserves to support it until 2100. It was stated that the company aims to build an “extremely resilient” balance sheet covering the next 65–100 years. Strategy plans to increase Bitcoin returns by leveraging its leverage and capital structure. It was stated that in the long term, the company’s performance could exceed that of Bitcoin itself. The statements indicate that the company is continuing its aggressive BTC strategy.
Michael Saylor: I Still Expect Bitcoin to Rise
Strategy founder Michael Saylor announced that he maintains his bullish outlook on Bitcoin. The company purchased an additional 10,645 BTC last week. The total cost of this purchase was approximately $980 million, with an average price of $92,098. Strategy’s total Bitcoin holdings reached 671,268 BTC. The total cost is estimated at approximately $50.3 billion.
El Salvador Enters the Era of Artificial Intelligence in Education with xAI
El Salvador announced its collaboration with Elon Musk’s xAI company. The Grok system will be used in all public schools over the next two years. The goal is to provide personalized, AI-powered education to all students from elementary school through high school. The system will be tailored to students’ skill and knowledge levels. This step aims to accelerate the country’s technology-focused education transformation.
Bitwise CEO: Crypto Will Be Fully Integrated into Financial Services
Bitwise CEO Hunter Horsley said cryptocurrencies will be integrated into every area of financial services within the next 12 months. Horsley emphasized that a wave of major innovation and new players is on the way. The statement indicates that crypto is entering a deeper integration process with traditional finance. Accelerated corporate adoption is expected. This process is expected to lead to structural changes in the sector.
Avalanche Foundation Establishes DLT Foundation in Abu Dhabi
The Avalanche Foundation announced that it has established the AvalancheDLT Foundation within the Abu Dhabi Global Market. The new structure aims to support Web3 adoption and ecosystem development in the MENA region. The foundation will coordinate projects, public initiatives, and developer activities within a regulatory framework. Existing regional initiatives will be brought together under one umbrella. The goal is to increase transparency and improve operational efficiency.
Ripple Co-Founder’s Space Venture Vast Seeks $2 Billion Valuation
Vast, the space venture of Ripple and Stellar founder Jed McCaleb, is in talks for a $300 million investment round. The company’s valuation is reported to be around $2 billion. McCaleb has announced that he is prepared to invest up to $1 billion from his personal fortune. Vast plans to launch its first space station prototype, Haven-1, in 2026. Haven-2 is targeted for launch in 2028.
