Bitcoin's Price Should be $136,000, CF Benchmarks Says

The FDIC has initiated a 60-day public comment period for its rule proposal on handling stablecoin issuer applications from regulated banks. The proposal, approved by the board, outlines procedures for application acceptance, review, and appeal processes to evaluate safety and soundness.

Visa is expanding its stablecoin pilot to include settlements in the U.S. using Circle's USDC on the Solana blockchain, aiming for a broader rollout in 2026. This move allows for faster fund movement and a full 7-day settlement window.

Despite securing a $500,000 ad deal with the Las Vegas Sphere, Pudgy Penguins' PENGU token is down 85%. The token's price only increased by 6% after the announcement, leaving its performance uncertain as it approaches its first birthday tomorrow.

The Court of Auditors of the State of São Paulo will conduct Brazil's first public auction using blockchain technology to enhance transparency and reduce disputes. Ten warehouses will be auctioned off, with all documentation timestamped and recorded on an unidentified blockchain.

Bitcoin and Ethereum spot ETFs experienced significant outflows totaling $582.4 million on Monday, attributed to institutional investors adjusting exposure amid market volatility and uncertainty in global monetary policy. Despite crypto prices holding steady, ETF flows reflect how investors are reallocating assets.

The South Korean government provided $15 million in debt relief to 269 individual crypto traders from a fund meant for struggling businesses. Auditors discovered one recipient had hidden crypto assets worth $307,000, prompting regulators to consider legal changes.

Bitwise predicts a shift in the bitcoin market dynamics for 2026, with the asset maturing and institutional investment increasing. The traditional four-year cycle is breaking down due to various factors like halvings, interest rates, and leverage changes. These shifts could lead to new all-time highs for bitcoin next year.

The U.K. saw a decrease in the number of people holding crypto from 7 million to 4.5 million, but those who still invest hold larger amounts. The FCA's report shows a shift towards higher average holdings, with Bitcoin and Ethereum remaining the most popular cryptocurrencies.

RedotPay, a Hong Kong-based fintech, raised $107 million in a Series B round to expand stablecoin-powered payments globally. With over 6 million users and $10 billion in annual payment volume, the company aims to revolutionize cross-border finance using blockchain technology.

Investors in Axelar are expressing discontent after Circle's acquisition of Interop Labs, excluding the network and the AXL token. The deal has caused frustration among those who expected continued development from Interop Labs.