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XRP is attempting to recover this week, buoyed by renewed optimism following the launch of spot XRP ETFs. The increased attention has supported a modest rebound, yet the bullish momentum is under pressure. A wave of major whale selling throughout November is hindering XRP’s ability to regain strong upward traction, creating a critical turning point
Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead. Grab a coffee because the next few weeks may mark a quiet turning point hiding in plain sight. While most are focused on headlines about bubbles and fears of a slowdown, Ark Invest CEO
Taking Stock of Key Long-Term Leaders in the Blockchain Industry
- S&P Global Ratings downgraded Tether's USDT to "weak" due to 5.6% Bitcoin exposure exceeding its 3.9% overcollateralization threshold and limited reserve transparency. - Tether CEO defended the model, citing no redemption refusals and $10B 2025 net profit, while S&P warned Bitcoin/gold price drops could trigger undercollateralization risks. - Market turbulence saw $3.5B Bitcoin ETF outflows and $9.9B Bitcoin holdings, with Tether expanding into gold producers and crypto lending despite regulatory scrutin
- Ethereum co-founder Vitalik Buterin donated to privacy-focused projects Aztec Network and Kohaku, signaling blockchain's shift toward data protection as a core priority. - The Ignition Chain and Kohaku framework aim to address data breaches like SitusAMC by enabling private transactions via zero-knowledge proofs and protocol upgrades. - Ethereum's Fusaka upgrade (2025) and growing $1.2 trillion blockchain messaging market highlight privacy's rising economic and technical importance in decentralized syste
Standard & Poor's has downgraded USDT to the lowest rating, citing high-risk reserves and insufficient disclosure as the main reasons, while centralized transparent stablecoins like USDC have received higher praise.
- Australia introduces 2025 Digital Assets Framework Bill to unlock $24B productivity gains while imposing strict client asset safeguards. - Legislation creates two new crypto financial product categories under Corporations Act, requiring AFSL licensing for platforms and tokenized custody services. - Exemptions for small operators (<$10M volume) balance innovation with regulation, aligning with global trends like U.S. GENIUS Act and SEC's Project Crypto. - Industry debates regulatory proportionality as Aus
- Nexton Solutions secures $4M to launch PetVivo.ai, an AI platform slashing veterinary client acquisition costs by 50–90%. - Beta results show 47 new clients per practice in six months, with a $42.53 CAC—far below industry averages. - Targeting 30,000 U.S. practices, it projects $12M ARR in Year 1, scaling to $360M by Year 5 with SaaS margins of 80–90%. - Strategic AI alliances, like C3.ai-Microsoft and Salesforce’s AI CRM focus, highlight the sector’s growth potential.
- Nasdaq ISE proposes quadrupling IBIT options limits to 1M contracts, aligning with high-liquidity ETFs like EEM and GLD . - Current 250K contract cap hinders institutional strategies; IBIT now leads Bitcoin options by open interest, surpassing Deribit. - Proposal includes removing FLEX IBIT position limits, enabling customized hedging for large funds, with experts calling it "routine" for high-volume assets. - SEC's December 17 comment deadline precedes potential approval, which could accelerate Bitcoin'
- 17:34MegaETH Co-Founder: Suspension of Pre-Deposits Aims to Ensure Healthy Ecosystem Growth, Sincerely Accepts CriticismBlockBeats News, November 28, MegaETH co-founder brother bing (@hotpot_dao) posted regarding the termination of the MegaETH pre-deposit event, stating, "The team is very dissatisfied with this pre-deposit event, which exposed our lack of preparation for alternative plans. The original intention was to allow community users to exchange some USDm in advance, so that they could interact with some on-chain applications on day one when the mainnet launches. But this intention was buried by poor execution and incorrect market predictions (we initially worried that the $250 million cap would not be filled, so we did not set a limit for individual accounts). In the end, a healthy ecosystem should grow gradually and try to avoid peaking at the very beginning." Previously, MegaETH announced that it would no longer proceed with the $1 billion cap plan, would refund all funds raised through the pre-deposit bridge, and planned to reopen the USDC and USDM swap bridge before the launch of the Frontier mainnet.
- 17:33BTIG analyst: Bitcoin is expected to rebound to $100,000, with mining stocks Cipher Mining and Terawulf performing stronglyBlockBeats News, November 28, BTIG analyst Jonathan Krinsky stated in a client report on Wednesday that after experiencing a -36% peak-to-trough decline earlier this month, bitcoin is now poised to continue its reflexive rebound, at least back to $100,000. According to data from Coin Metrics, bitcoin was last trading at $92,451.30, up nearly 10% over the past five days, but still down 20% over the past month. The analyst pointed out that despite the recent pullback, crypto mining companies Cipher Mining and Terawulf have performed strongly during the cryptocurrency correction. Since Monday, Cipher Mining has risen by 35%, and Terawulf by 31%. Barclay's Crypto Mining Index has held its support level and is expected to have another 15% upside before encountering stronger resistance. In addition, ETH, the second largest cryptocurrency by market capitalization, after falling 24% over the past month, also appears poised to reclaim the $3,400 level, with its latest trading price at $3,075.62, up nearly 13% over the past five days. Solana and XRP have risen by 12% and 15% respectively during the same period. (CNBC)
- 17:33Circle newly mints 500 million USDC; Tether and Circle have cumulatively issued 17.75 billions USD in stablecoins since the "1011" market crash.BlockBeats News, November 28, according to monitoring by Lookonchain, Circle has just minted another 500 million USDC. After the "1011" market crash, Tether and Circle minted stablecoins worth 17.75 billions USD.