Crypto weekly is authored by maaria and david blumenfeld

PRICE CHANGE: WTD/YTD
- Crypto Market Cap ($3.13T): -2% / -8%
- BTC ($88,873): -3% / -5%
- ETH ($3,097): -2% / -7%
- SOL ($131): -4% / -31%
- UNI ($5.36): -5% / -59%
- OP ($0.30): -4% / -83%
- COIN ($267): -1% / +8%
- Tether Mkt Cap ($186B): 0% / +34%
- USDC Mkt Cap ($78B): 0% / +79%
- BTC / ETH Dominance: 57% / 12%

THIS WEEK IN CRYPTO
- Bitcoin fell below $90,000 despite a Fed rate cut and stock market rally, as BTC spot ETFs saw over $5 billion in outflows. Link.

- The SEC sent a no-action letter to DTCC, allowing the firm to custody and recognize tokenized equities and other real-world assets on-chain. This has been seen as a positive signal to other market participants looking to tokenize stocks. Link.

- Terra Labs founder Do Kwon was sentenced to 15 years in prison for the fraud that led to the $40 billion Terra / Luna UST stablecoin collapse in 2022. Link. Link.

- SEC Chair Paul Atkins suggested that most ICOs fall outside the SEC's purview as non-securities transactions and are under CFTC jurisdiction. Link.

- Nine large US banks maintained policies that restricted access to banking services for clients in certain industries like digital assets and crypto, referred to as "debanking". JPMorgan, Bank of America, Citigroup, Wells Fargo and Capital One were among the banks found to have made "inappropriate distinctions" about certain customers. Link.

- The CFTC debuted a "digital assets pilot program" that will allow Bitcoin, ETH, and USDC to be used as collateral in derivatives markets. Link. Link.

- BlackRock filed to add staking to its spot ethereum ETF, allowing the ETF to earn incremental rewards from staking a portion of its ether. Link. Link.

- Decentralized social media protocol Farcaster is shifting its focus towards its wallet, moving away from its social-first approach. Link.

- Crypto venture firm Paradigm suggests that most dashboards tracking Polymarket's trading volume have been double-counting it due to redundant data structures in Polymarket's smart contracts. November's trading volumes were $1.87 billion, not $3.7 billion as previously reported. Link. Report. Thread.

- Jennifer Garner is set to star in "One Attempt Remaining", an upcoming crypto comedy from Netflix about a couple racing against time to recover the password to their crypto wallet. Link.

- Coinbase is expected to announce the launch of prediction markets powered by Kalshi and in-house tokenized stocks next week. Link. Link.

- 65% of bitcoin treasury companies bought bitcoin for more than $90,000, meaning a majority are sitting on unrealized losses. Link.

- Bitcoin treasury company Strategy purchased 10,624 BTC for $962.7 million last week, marking its largest acquisition since July. Link.

- Creators on Youtube can now opt for payouts in PayPal's PYUSD stablecoin. Link.

- A solo bitcoin miner won a block reward of 3.13 BTC, a 1 in 30,000 chance. Link.

- The OCC granted conditional banking charters to four stablecoin issuers: Circle, Ripple, BitGo, and Paxos. Link.

- Norway's central bank said a central bank digital currency was not necessary to maintain an efficient and secure payment system. Link.

- Crypto exchange Gemini received approval from the CFTC to launch prediction markets in the US. Link.

- Stripe and Paradigm launched the testnet for their joint blockchain project, Tempo, opening the network to anyone interested in building real-world stablecoin payments. Link.