Morgan Stanley's Bitcoin ETF Could Attract $160 Billion, Says Strategy CEO

JPMorgan analysts believe that despite recent fears and a 9% decline in Bitcoin's price, a prolonged downturn or "crypto winter" is not imminent. They noted a decrease in trading volumes but highlighted the resilience of stablecoins.

Sen. Cory Booker expressed concerns over the potential expansion of presidential power to fire commissioners from agencies like the SEC and CFTC at will. He emphasized the importance of appointing Democrats to ensure a balanced and fair regulatory environment for the crypto market structure bill.

Aleo network's foundation announced the launch of a new privacy-focused stablecoin, USDCx, in partnership with Circle's xReserve platform. The token aims to provide secure global payroll payments and remittances while protecting user data. The mainnet launch is expected by the end of January.

A hacker stole over $440,000 in USDC by tricking a wallet owner into signing a malicious "permit" signature, leading to a surge in phishing losses. Permit-based scams exploit Ethereum's permit function, granting attackers access to users' ERC-20 tokens.

Bitwise's $1.25 billion Bitwise 10 Crypto Index Fund (BITW) has been approved by the SEC to trade on NYSE Arca, becoming the second U.S.-listed multi-asset crypto index fund. This fund offers exposure to top cryptocurrencies like Bitcoin, Ether, Solana, and XRP, attracting institutional capital into crypto indices.

PNC Bank introduced a service allowing select customers to trade Bitcoin through Coinbase, part of a strategic partnership announced in July. The offering, limited to Bitcoin initially, targets high-net-worth customers and business owners of PNC Private Bank.

The UK's Liberal Democrats and Labour Party have requested the Electoral Commission to investigate a £9 million donation to Nigel Farage's Reform UK by crypto billionaire Christopher Harborne. Concerns were raised about potential conflicts of interest and the influence of wealthy donors on the political system.

The king's son in Malaysia introduced a stablecoin called RMJDT, pegged to the ringgit, for cross-border trade and foreign investment. The stablecoin, with an initial supply of 500 million tokens, will be backed by ringgit cash deposits and local government bonds.

Tyler Warner's daily newsletter, Morning Minute, features insights from Michael Saylor and Tom Lee's recent significant crypto investments. Saylor's Strategy added $963M in BTC, while Lee's BitMine acquired $429M in ETH, boosting their cash positions as well.

BMW Group and JPMorgan collaborated to conduct the first fully pre-programmed FX transaction using JPMorgan’s Kinexys Digital Payments network. The automated process allowed for seamless fund transfers between Frankfurt and New York, optimizing liquidity and enabling near-instant cross-border payments.