Crypto weekly is authored by maaria and david blumenfeld

PRICE CHANGE: WTD/YTD
- Crypto Market Cap ($3.03T): -7% / -11%
- BTC ($86,666): -8% / -7%
- ETH ($2,790): -10% / -16%
- SOL ($130): -5% / -31%
- UNI ($6.12): -15% / -54%
- OP ($0.30): -20% / -83%
- COIN ($240): -15% / -3%
- Tether Mkt Cap ($184B): 0% / +33%
- USDC Mkt Cap ($74B): -1% / +69%
- BTC / ETH Dominance: 57% / 11%

THIS WEEK IN CRYPTO
- Bitcoin is on track for its worst monthly performance since the crypto collapse of 2022, having shed about a quarter of its value in November. Link.

- Bitcoin and Ethereum ETFs have seen record outflows of $3.79 billion in November. Link.

- Bitcoin plunged below $86,000 due to stronger-than-expected US jobs data, which dampened hopes for further easing with a December interest rate cut. Link.

- Over $1 trillion was wiped out as Bitcoin plunged to its lowest level in seven months, with the total cryptocurrency market capitalization dropping from its peak of $4.3 trillion to around $3.2 trillion. Link.

- A new bill would allow federal tax payments in bitcoin without triggering capital gains, with the aim of bolstering the proposed U.S. Strategic Bitcoin Reserve. Link.

- The White House is reviewing a proposed IRS rule that would allow the US to access information on cryptocurrency held by Americans in foreign accounts, in an effort to curb offshore tax evasion. Link. Link.

- The US Senate Banking Committee plans to hold a committee vote on a crypto market structure bill next month, with the goal of bringing it to the Senate floor for President Trump's approval in early 2026. The bill would delineate jurisdiction between the SEC and CFTC, and would clarify which cryptocurrencies are not securities. Link.

- The US Office of the Comptroller of the Currency (OCC) has issued guidance allowing banks to hold certain cryptocurrencies, such as ethereum, to pay network fees as part of their business operations. Link.

- Ethereum is rolling out an "Ethereum Interoperability Layer" to allow any Ethereum Layer 2 to seamlessly communicate and interoperate with any other Layer 2, aiming to create a unified, user-friendly Ethereum ecosystem. Link.

- Crypto exchange Kraken has confidentially filed for an initial public offering (IPO) in the US after securing fresh funding at a $20 billion valuation. Link.

- Digital asset treasury companies (DATs) are facing pressure to raise capital as their stock value falls below their crypto holdings. DATs are facing billions in paper losses due to the sustained crypto market slump, raising concerns about forced selling that could create further downward pressure. Link.

- Layer-1 protocol Monad oversubscribed its token sale on Coinbase, raising over $216 million, or 115% of its $187 million target. Link.

- The Senate Agriculture Committee voted 12 to 11 along party lines to move forward with President Donald Trump's pick, Michael Selig, to lead the Commodity Futures Trading Commission (CFTC), sending it to the full Senate for the next vote. The CFTC is expected to become the head regulator for cryptocurrencies. Link.

- DappRadar, a leading platform for tracking on-chain activity, announced its shutdown after seven years. Link.

- Decentralized lending protocol Aave is launching a new iOS app that offers 5% interest on holdings. Link.

- Coinbase now allows users to borrow up to $1 million in USDC against ETH through an on-chain loan product offered via Morpho. Link.

- USDT stablecoin issuer Tether now holds over 116 tons of gold, putting its holdings on par with small central banks. Link.

- Transaction fees to Bitcoin miners have fallen to a 12-month low of $300,000 per day, comprising less than 1% of miner income. By comparison block subsidy awards generate approximately $45 million in daily revenue for miners. Link.

- Leaked screenshots suggest Coinbase is testing a prediction market integration and stock trading feature. Link.

- Chinese manufacturer Bitmain, the world's largest supplier of Bitcoin mining machines, has been the subject of a months-long federal investigation in the United States to assess whether its products pose national security risks, such as potential for espionage or sabotage of the American power grid. Link.

- The Cardano network briefly split into two chains after an attacker used an AI-generated script to exploit a known bug, leading to an emergency patch and network-wide upgrade to restore uniformity. Link.