Crypto weekly is authored by maaria and david blumenfeld

PRICE CHANGE: WTD/YTD
- Crypto Market Cap ($3.20T): +1% / -6%
- BTC ($91,637): +7% / -2%
- ETH ($3,147): +11% / -6%
- SOL ($136): +8% / -28%
- UNI ($5.66): +3% / -57%
- OP ($0.32): +6% / -82%
- COIN ($270): -1% / +9%
- Tether Mkt Cap ($186B): +1% / +34%
- USDC Mkt Cap ($78B): +2% / +79%
- BTC / ETH Dominance: 57% / 12%

THIS WEEK IN CRYPTO
- Bitcoin surged above $93,000 as short liquidations and renewed institutional interest helped fuel a rebound ahead of the upcoming Federal Reserve meeting. Link.

- The CFTC announced that spot crypto products will be allowed to trade on registered futures exchanges. Link. Link.

- Citadel asked the SEC to regulate DeFi protocols as exchanges, sparking backlash from the cryptocurrency community. Link.

- Bitcoin miners are facing the worst profitability crunch on record, with daily expected revenue dropping below median all-in costs and payback periods. Link.

- The US DoJ is seeking a 12-year prison sentence for Terra founder Do Kwon for the $40 billion fraud that led to the collapse of the TerraUSD stablecoin. Link. Link.

- Three key issues are holding up the progress of the crypto market structure bill in the U.S. Senate, including disputes over stablecoin yield, conflicts of interest, and DeFi protections, making a committee markup unlikely before the end of the year. Link.

- Anthropic published a report demonstrating its coding AI agents are capable of exploiting smart contracts. In a test environment, their agents were able to steal $4.5 million from smart contracts that haven’t been previously exploited. Link.

- Ethereum's Fusaka upgrade went live, introducing PeerDAS and higher blob capacity meant to reduce costs and increase speed of the network. Link. Link.

- The UK passed a law officially recognizing crypto as a third kind of property subject to rights distinct from traditional physical objects and contractual rights. Link.

- Vanguard, the world's second-largest asset manager, will allow crypto ETFs and mutual funds to be traded on its platform. Link.

- Coinbase's layer-2 network Base now bridges to Solana via Chainlink's Cross-Chain Interoperability Protocol. Link.

- Blockchain-based prediciton marketplace Polymarket has begun rolling out its US app to users on the waitlist after previously being banned from operating in the US in 2022. Link.

- Sony plans to issue a US dollar-denominated stablecoin next year to allow US customers to pay for video game subscriptions and digital content. Link.

- Connecticut issued cease-and-desist orders against prediction market firms like Kalshi, Robinhood, and Crypto.com for failing to comply with state gambling laws. Link.

- Italy warns crypto firms must meet the year-end MiCA deadline or shut down their operations in the country. Link.

- Franklin Templeton launched a Solana ETF (SOEZ) on the NYSE. Link.

- The first Chainlink spot ETF, GLINK, will begin trading on the NYSE. Link.

- Binance named co-founder Yi He as co-CEO. Yi He is the partner of former Binance CEO "CZ", who was recently pardoned by President Donald Trump for failing to implement adequate AML / KYC on the exchange. Link.

- Coinbase is reopening user registration in India with plans to launch a fiat on-ramp in 2026, after a two year pause due to regulatory challenges. Link.

- Bank of America will allow its wealth management clients to allocate 1% to 4% of their portfolios to crypto. Link.