But hold the schmaltz! There’s a little something-something brewing. See, these “stablecoin exchange reserves” are going UP! It’s a mystery, I tell ya, a mystery! Analysts are whispering, saying maybe, just maybe, people are holding onto their drachmas, waiting for the next big shebang. Are they stockpiling for a comeback or just bracing for the apocalypse? 🤔
Eric Balchunas, Bloomberg’s go-to expert for all things finance (and probably a secret super hero), took to X (yes, that’s still Twitter) to drop some knowledge on how impressive this XRP ETF launch is. His take? Historic. That’s a big word. And we’re here for it. 🙌
Ah, Ethereum! Once a beacon of innovation, now a trembling wraith clinging to the $3,000 precipice. Four percent lighter this week, it staggers under the weight of absent buyers, its spirit sapped by a bearish gale. Yet-could it be?-whispers of a “bullish divergence” haunt the MACD and RSI, like a prisoner hallucinating freedom. Will the $3,800 wall prove a Sisyphean torment, or shall ETH rally, only to collapse again? The drama thickens! 🎭
In this age of digital delirium, where even socks have NFTs, Nebraska dares to waltz with innovation. The Department of Banking and Finance, with the subtlety of a marching band, announced on Nov. 12 that Telcoin Digital Asset Bank may now peddle its wares under the state’s watchful eye. One might say it’s the financial equivalent of serving caviar on a cornhusk platter.
BitGo, BiT Global, and LayerZero.
The “Bipartisan Market Structure Draft” is basically a legal game of “Simon Says” for regulators: CFTC, SEC, and everyone’s favorite – nobody. Proponents claim this will “remove years of legal uncertainty” – which is just a fancy way of saying, “Let’s all stop pretending we know what we’re doing!” 🤷♂️
Imagine a universe where cash is king, but the king wears a tie and sips lukewarm tea. This fund, launched on November 13, is BNY’s answer to the question: “What if we took the soul of a money market fund and stuffed it into the body of a stablecoin reserve?” The result? A vehicle for institutions to park their digital-asset liquidity while nodding politely at regulators. Anchorage Digital, the nation’s first federally chartered crypto bank, threw in some initial capital, presumably because they had nothing better to do than play financial Jenga. 🏦🧱
Michael Saylor, executive chairman and co-founder of Strategy, said Bitcoin (BTC) will overtake gold’s market cap by 2035. In an interview with Yahoo Finance, Saylor called that year the “0.99 year,” referring to the time when 99% of all Bitcoin would have been mined. He added that the last 1% of Bitcoin will be released over the next 100 years. Aye, because nothing says “scarcity” like waiting a century for a coin. 🕰️
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