News & Research

Tempo, a payments-focused blockchain backed by Stripe and Paradigm, has launched its public testnet, CoinDesk reported. Kalshi, UBS, Klarna, and Mastercard have joined as network partners, alongside existing partners such as Deutsche Bank, Visa, Shopify, OpenAI, and Nubank. The network charges a fee of around 0.1 cents per transaction, which is settled using a dollar stablecoin, eliminating the need for a separate gas token.

Ark Invest CEO Cathie Wood said in an interview with Fox Business that BTC may have bottomed out a few weeks ago.

The Singapore Exchange's (SGX) crypto perpetual futures, launched two weeks ago, are gaining significant traction, SGX President Michael Syn said in an interview with CoinDesk. He noted that trading volumes for the exchange's BTC and ETH perpetual futures have surged since their debut, supplying new liquidity to the market rather than drawing funds from elsewhere. Syn suggested the products are meeting demand from institutional investors, particularly for basis trading during Asian market hours. He also highlighted that SGX manages risk with a conservative collateral policy, unlike over-the-counter (OTC) markets where high leverage can lead to automatic liquidations. Syn added that the primary goal is now to build liquidity and trust, with plans to potentially add options or other altcoin futures in the future.

The following are the 24-hour long/short ratios for BTC perpetual futures on the top three global crypto futures exchanges by open interest: Overall: 49.45% long, 50.55% short 1. Binance: 48.87% long, 51.13% short 2. OKX: 48.98% long, 51.02% short 3. Bybit: 49.63% long, 50.37% short

U.S. spot Bitcoin ETFs recorded a total net outflow of $60.51 million on Dec. 8, reversing course after a single day of net inflows, according to data from Trader T. While BlackRock's IBIT saw a net inflow of $28.72 million, this was offset by outflows of $44.03 million from Grayscale's Mini BTC and $39.44 million from Fidelity's FBTC.

Global credit rating agency Fitch Ratings has warned that U.S. banks with substantial cryptocurrency operations could face credit rating downgrades. According to a Fitch report cited by Cointelegraph, activities such as issuing stablecoins, tokenizing deposits, and utilizing blockchain technology can present opportunities for improved profitability. However, the agency noted that these ventures also increase risks related to a bank's reputation, liquidity, operations, and regulatory compliance. Consequently, Fitch stated that banks with large-scale crypto-related businesses may be subject to negative rating actions. The report also mentioned that major banks like JPMorgan, Bank of America, Citi, and Wells Fargo are involved in the crypto sector.

Digital asset tax and accounting platform ZenLedger has announced its support for the Sui (SUI) network. The integration aims to simplify tax reporting and compliance for users, businesses, and developers in accordance with various national regulations. ZenLedger's system automatically aggregates and standardizes data from hundreds of exchanges, blockchains, wallets, and DeFi protocols, a service now extended to the Sui ecosystem.

Nasdaq-listed Bitmine, a company heavily invested in Ethereum, is carrying an unrealized loss of approximately $3.1 billion, according to an analysis by EmberCN. The firm currently holds 3,864,951 ETH, valued at $12.074 billion, with an average purchase price of $3,925.

Binance has announced the addition of WET to Binance Alpha, its on-chain trading platform within the Binance Wallet. The platform focuses on listing early-stage coins.

Brevis, a Zero-Knowledge (ZK) verification computing platform, announced the launch of the mainnet beta for ProverNet, its decentralized marketplace for generating ZK proofs. The marketplace utilizes a Truthful and Asymptotically Optimal Double Auction (TODA) mechanism to address a key limitation in existing proof infrastructure, where a single setup cannot optimally meet diverse requirements. Payments on the beta platform are settled in USDC. Brevis is currently migrating its production workloads to the marketplace, starting with Ethereum block execution proofs from ETHProofs.org. The company added that upon the full mainnet launch, its native BREV token will be used for payments and staking.