According to market news, the Wall Street Journal revealed that Trump's transition team has begun exploring ways to significantly reduce, consolidate or even eliminate Washington's top banking regulator. Advisers have asked potential candidates whether the president-elect would abolish the Federal Deposit Insurance Corporation. (Jinshi)

Australian superannuation and wealth management company AMP has become one of the country's first major retirement fund managers to invest in cryptocurrency products, putting about A$27 million ($17.2 million) into bitcoin futures. AMP Chief Investment Officer Anna Shelley said in emailed comments that the investment in bitcoin futures reflects "structural changes" in the digital asset industry over the past year, including the launch of exchange-traded funds (ETFs) that invest directly in bitcoin and ether by leading investment managers. She added that after testing and careful consideration by our investment team and committee, we included a small and risk-controlled position in digital assets through our dynamic asset allocation program in May, adding that the exposure accounts for about 0.05% of its total superannuation assets. The Australian Prudential Regulation Authority declined to comment on AMP's investment in bitcoin futures, instead citing a letter it sent to the financial industry in 2022, which said: "While our super members have benefited from this exposure, we fully understand the risk and volatility characteristics of this emerging asset class and will continue to carefully manage our holdings, which are a small part of a highly diversified portfolio." (newsbtc)

According to BlockBeats, recent data from Polymarket indicates a significant probability that Ethereum will not achieve a new all-time high this year. The prediction market shows an 81% likelihood of Ethereum failing to surpass its previous peak. As of the latest update, a total of $9,645,951 has been invested in this prediction. This substantial amount reflects the market sentiment and the confidence of participants in the forecast. The prediction market serves as a platform where users can speculate on the outcome of various events, and the current sentiment suggests a strong belief that Ethereum's price will remain below its historical highs for the remainder of the year. This prediction comes amid a volatile period for cryptocurrencies, with market dynamics influenced by various factors including regulatory developments, macroeconomic conditions, and technological advancements within the blockchain space. The high probability assigned to Ethereum not reaching a new high underscores the cautious outlook of investors and traders in the current market environment.

According to market news, the Wall Street Journal revealed that the Trump team is seeking to integrate or eliminate bank regulatory agencies. (Jinshi)

BlackRock's official updated data shows that as of December 12, its Ethereum exchange-traded fund iShares Ethereum Trust ETF held 981,155.3661 ETH, with a market value of US$3,809,904,779.02.

According to U.Today, Ripple has minted over 13 million units of its new stablecoin, RLUSD, following regulatory approval from the New York State Department of Financial Services (NYDFS). The San Francisco-based blockchain company is preparing to launch RLUSD on various cryptocurrency exchanges. The RLUSD Treasury recently minted two significant amounts of the stablecoin: 10,399,000 and 2,600,000 RLUSD, along with several smaller batches of 100,000 RLUSD each. Ripple's CEO, Brad Garlinghouse, announced that the stablecoin would soon be available on the crypto market. Initially, RLUSD is set to launch on the XRP Ledger and the Ethereum blockchain. However, Tron founder Justin Sun hinted that RLUSD might also be introduced on the Tron blockchain in the future, though he did not provide further details. The global stablecoin market is currently valued at approximately $196 billion, with major players like Tether (USDT) and USD Coin (USDC) holding the largest market shares. Ripple's RLUSD will be pegged to the U.S. dollar and backed by liquid assets such as USD reserves and short-term U.S. Treasuries. Ripple aims to use RLUSD for cross-border payments, enhancing liquidity and providing seamless transitions between crypto and fiat currencies. Ripple is optimistic about RLUSD's potential in the expanding stablecoin market. Analysts predict that the market could grow from its current $196 billion to $2.8 trillion by 2028. Stablecoins are expected to gain broader adoption in both traditional and decentralized finance markets, which could significantly enhance Ripple's position in a competitive landscape.

According to U.Today, Cardano (ADA), a prominent altcoin, is maintaining its position above the $1 threshold despite a cautious sentiment prevailing in the broader cryptocurrency market. Discussions are ongoing regarding the possibility of a supercycle for ADA, which could potentially influence its future trajectory. On Thursday, Charles Hoskinson, the founder of Cardano, addressed security concerns related to the cryptocurrency. He highlighted that Ethereum's researchers have not engaged with Cardano's research or examined its network thoroughly. This lack of engagement, according to Hoskinson, has led to misunderstandings about Cardano's capabilities and its security mechanisms. These comments were made in response to ongoing debates within the crypto community about the comparative strengths and weaknesses of different blockchain networks. The discussions around Cardano's potential supercycle and its security features come at a time when the cryptocurrency market is experiencing varied sentiments. While some investors remain optimistic about ADA's future, others are cautious due to the overall market conditions. Cardano's ability to maintain its value above the $1 mark is seen as a positive sign by its supporters, who believe in the coin's long-term potential.

A new analysis from the Committee for a Responsible Federal Budget (CRFB), a nonpartisan fiscal watchdog group in the United States, warns that extending the tax cuts that are set to expire next year will do little to help economic growth. The CRFB's findings are based on an assessment by the Congressional Budget Office that found that letting the tax cuts expire would significantly increase public fiscal revenue, reducing the cumulative fiscal deficit by $3.7 trillion over a decade. These potential revenue increases would mean less public borrowing, which in turn would stimulate private investment. In the CBO's analysis, this would help make up for the reduction in the labor force caused by the expiration of the tax cuts. "Overall, the two effects largely offset each other, resulting in very small changes in gross domestic product (GDP)," the CBO said. This means that, in the CRFB's view, extending the tax cuts would also have a similar, modest net effect on economic growth. (Jin Shi)

According to Odaily, the cryptocurrency HBAR has experienced a significant price increase, surpassing the 0.33 USDT mark. As of the latest update, HBAR is trading at 0.33033 USDT, reflecting a 24-hour growth of 10.77%. This surge in HBAR's value highlights the dynamic nature of the cryptocurrency market, where rapid price changes can occur within short periods. Investors and traders are closely monitoring these fluctuations, as they present both opportunities and risks. The recent performance of HBAR may attract increased attention from market participants looking to capitalize on its upward momentum. The cryptocurrency market is known for its volatility, and HBAR's recent price movement is a testament to this characteristic. As digital assets continue to gain traction, market observers are keen to see how HBAR and other cryptocurrencies will perform in the coming days. The current trend suggests a positive outlook for HBAR, but market conditions can change rapidly, necessitating careful analysis and strategic decision-making by investors.

According to Odaily, LBBW analyst Elmar Voelker has expressed uncertainty regarding the Federal Reserve's upcoming interest rate decision, suggesting it is not as clear-cut as forward rates might indicate. Voelker, a seasoned fixed-income analyst, noted that recent U.S. macroeconomic data does not provide a definitive template for the forthcoming rate decision. From the perspective of bond market participants, Voelker highlighted that there is little difference between a scenario where the Fed cuts rates in December and signals a pause in January, and one where the Fed pauses in December and hints at a rate cut in January. This ambiguity reflects the complexity of interpreting economic indicators and their implications for monetary policy. Data from LSEG reveals that the currency market currently assigns a 94% probability to a 25 basis point rate cut by the Federal Reserve next week, while the likelihood of maintaining the current rate stands at 6%. This data underscores the prevailing market sentiment and the challenges faced by analysts in predicting the Fed's actions.

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