According to BlockBeats news on November 27, the latest research released by the Fed shows that the top 100 banks in the United States and 100 non-bank financial institutions (NBFIs) have a high concentration risk at the "third-party service provider" level. If key cloud, payment, or core IT service providers experience a failure, it will quickly evolve into a cross-market systemic event. The model indicates that in extreme scenarios, the tail losses caused by systemic incidents could far exceed normal operational risks, with operational disruptions becoming the main source of loss rather than traditional credit events. From a macro-financial perspective, this study quantitatively confirms for the first time that "digital infrastructure failure" itself can trigger a financial crisis, rather than being merely an accompanying risk. When critical third-party nodes fail, it will simultaneously impact payment clearing, liquidity allocation, credit transmission, and risk hedging mechanisms, rapidly increasing the value of the dollar in the short term.

Swiss Amina Bank and the Crypto Finance Group under Deutsche Börse have successfully completed a pilot for real-time fiat Settlement on Google Cloud's universal ledger, validating the application potential of Distributed Ledger technology in cross-border payments and multi-currency Settlements, while complying with existing regulatory standards. This move provides a practical model for the transformation of the financial system.

PANews, November 27, reported by Cryptopolitan, the latest report from the Bank for International Settlements (BIS) indicates that the total assets of tokenized money market funds have surged from $770 million at the end of 2023 to nearly $9 billion, becoming a key source of collateral in the crypto ecosystem. The agency warns that while such assets have the "flexibility of stablecoins," they also bring substantial operational and liquidity risks. The BIS identifies liquidity mismatch as a major risk of tokenized money market funds. It points out that while investors can redeem tokenized fund shares on a daily basis, the underlying assets still adhere to the traditional T+1 settlement mechanism. During periods of market pressure, concentrated redemption demands will expose this structural risk. Subsequently, the organization noted that the market is still in its early stages of development, and solutions are continuously being improved, such as the distributed ledger repurchase (DLR) launched by financial technology company Broadridge.

The Xapo Byzantine BTC Credit Fund of Xapo Bank has opened to accredited investors, attracting $100 million in its initial phase. The fund provides a wealth management tool for long-term Bitcoin holders, offering low-risk stable returns through an institutional credit process.

BlockBeats news, on November 27, the latest Beige Book survey released by the Fed shows that U.S. economic activity has seen little change in recent weeks, but overall consumer spending has further declined, except for high-end consumer groups. According to the Beige Book survey released by this U.S. Central Bank on Wednesday, employment levels have slightly decreased, while prices have moderately risen. There are differences among Fed policymakers regarding whether to maintain interest rates or lower them at the December meeting. This report provides a basis for both sides of the current policy debate.

Deutsche Bank predicts that gold prices will approach $5,000 per ounce in 2026 and break through $5,150 in 2027. Analysts point out that demand for gold purchases by the Central Bank and the return of ETFs will drive gold prices up, despite a previous decline, the prices have now rebounded. Additionally, the fluctuation of gold prices in 2025 reached the highest level since 1980, reflecting market concerns about inflation and global debt.

According to ChainCatcher news and Jin10 reports, JPMorgan economists have changed their forecast, believing that the Fed will initiate interest rate cuts in December, which reverses the bank's judgment a week ago that policymakers would delay rate cuts until January next year. The research team stated that several heavyweight Fed officials support the recent statements on interest rate cuts, prompting them to reassess the situation. Currently, JPMorgan expects the Fed to cut rates by 25 basis points in December and again in January next year.

American banks are cautious about the stock market, expecting the S&P 500 index to reach 7100 points by 2026, but with weakened Liquidity support, market fluctuations will be between 5500 and 8500 points. Profit growth and market returns may not be synchronized, so follow the market changes in artificial intelligence and consumer goods.

Odaily News Jefferies' analysis report shows that the stablecoin issuer Tether currently holds 116 tons of physical gold, making it the "largest gold holder outside of Central Banks," with reserves comparable to those of Central Banks in countries like South Korea, Hungary, and Greece. In the last quarter, Tether's gold purchases accounted for nearly 2% of global gold demand and nearly 12% of Central Bank purchases, and its aggressive acquisition behavior may have affected short-term market supply and investor sentiment. Investors cited by Jefferies believe that Tether plans to acquire another 100 tons of gold by 2025. With an expected profit of $15 billion this year, this goal seems within reach. Additionally, Tether has invested over $300 million in precious metal producers and has issued gold-backed Token Tether Gold.

BlockBeats News, on November 26, the yield on the UK two-year government bonds fell by 7.1 basis points, reaching the lowest level since August 2024, at 3.693%. Traders are increasing their bets on the extent of the Bank of England's interest rate cuts, expecting a cumulative cut of 68 basis points by the end of 2026. (Jin10)

PANews November 26 news, according to the BIS official website, Tommaso Mancini-Griffoli will join the bank for international settlements (BIS) on March 1, 2026, as the head of the BIS Innovation Hub for a term of five years and will enter the BIS Executive Committee. He is currently the Assistant Director of the IMF's Monetary and Capital Markets Department, responsible for payment, currency, and financial market infrastructure. The BIS Innovation Hub covers seven centers (Frankfurt/Paris, Hong Kong, London, Singapore, Stockholm, Switzerland, Toronto) and maintains strategic cooperation with the Fed. His predecessor was Cecilia Skingsley; before his arrival, BIS Deputy General Manager Andréa M.

According to a Reuters report, sources say that the Bank of Japan may announce an interest rate hike at the policy meeting in December. Policymakers are weighing the weakening yen against wage rise and preparing for the potential end of the ultra-loose monetary policy. The Governor of the Bank of Japan, Kazuo Ueda, emphasized the need for more data on wage growth trends, while pointing out that the recent depreciation of the yen may affect potential inflation. Bank of Japan board member Junko Nakagawa also stated that given the recent decline of the yen, it is necessary to normalize monetary policy, which suggests that interest rate hikes may be approaching.

According to Jinse Finance, the Bank for International Settlements (BIS) has appointed one of the world's most influential digital money economists, Tommaso Mancini-Griffoli, as the next head of the BIS Innovation Hub, effective March 2026. The Bank for International Settlements stated on Tuesday that Mancini-Griffoli will 'lead efforts to explore innovative technological solutions in the central banking community.' His responsibilities are expected to include the ongoing advancement of Central Bank Digital Currency (CBDC), tokenization of assets, and new market infrastructure. Mancini-Grifoni currently serves as Deputy Director of the Monetary and Capital Markets Department at the International Monetary Fund, responsible for payment and currency matters. He is one of the most important advocates within the IMF for a regulated digital currency model supported by public funds, having previously warned about the risks of unregulated stablecoins. This appointment comes at a time when the bank for international settlements innovation center is accelerating its progress.

Pruv Finance announced the completion of a $3 million Pre-A round of financing, led by UOB Venture Management, a subsidiary of United Overseas Bank. The funds will be used to build a digital financial platform that supports institutional users in achieving RWA asset tokenization and on-chain distribution.

Golden Finance reported that data from Jefferies shows that as of September 30, during the two quarters, stablecoin USDT issuer Tether held a total of 116 tons of gold for its customers, equivalent to approximately 14 billion USD at current prices, surpassing the official gold purchase amounts provided by any Central Bank.

According to a report by Newspim on Wednesday, KakaoBank, a digital bank under the leading IT company Kakao in South Korea, has advanced its stablecoin plan pegged to the Korean won to the actual development stage. KakaoBank's official website also published information on recruiting backend developers for blockchain services, indicating this progress. The main requirements include proficiency in smart contracts, knowledge of token standards, and experience in trading management and Full Node operations. KakaoBank's Chief Financial Officer Kwon Tae-hoon stated in the performance report for the first half of 2025 released in August that the bank is evaluating various options for participating in digital finance, such as issuing or custodizing digital assets.

Vitalik Buterin calls for privacy to be standardized in response to a major bank data breach, which has caused Ethereum's price prediction to rise due to its association with one of the most important topics in this cycle. Before panic spreads throughout the market, the concept of Privacy Coin is gradually gaining follow, seen as the next important entry point for real-world applications through tokens like Zcash. Vitalik's recent comment that "privacy is not a feature, but a hygiene habit" has once again sparked interest, with Ethereum becoming the focus of discussion this time. This argument stems from the recent data leak incidents involving clients of major U.S. banks such as JPMorgan, Citigroup, and Morgan Stanley.

The Bank of Japan may raise interest rates next month due to the heightened inflation risks caused by the depreciation of the yen. Recent hawkish statements and government support have eliminated political opposition, but the timing of the rate hike remains to be seen and will be influenced by the decisions of the Fed.

Golden Finance reported that ShapeShift executive Houston Morgan stated that JPMorgan suddenly closed his business account last Friday and notified him that his personal account would also be closed this week, citing the reason as "to protect Chase's Financial Institution." Morgan indicated that the entire process was without warning, and he was not asked to provide additional information, nor was there an opportunity to appeal. This incident follows the closure of Strike CEO Jack Mallers' account, raising concerns about the "de-banking" of the U.S. encryption industry once again. JPMorgan did not respond to requests for comment.

Golden Finance reports that the currency strategist team at JPMorgan, led by Meera Chandan and Arindam Sandilya, had predicted that the dollar would strengthen after Trump took office this year. However, with the dollar's performance in the first half of the year being the worst in 50 years, the team had to quickly adjust its outlook. The team's view on the dollar turned negative in March and has maintained that stance ever since. The strategists now expect the dollar to fall by about 3% before mid-2026, and then stabilize. However, analysts point out that several key factors complicate the bank's bearish outlook. First, despite the Fed's recent interest rate cuts, U.S. rates remain higher than many other global central banks. They state that this makes global investors more inclined to park their funds in the U.S. and limits the appeal of diversifying investments outside the U.S. More broadly, JPMorgan is concerned about the risks related to the U.S. labor market or growth expectations.

Odaily News The South African Reserve Bank warns: listing cryptocurrencies and stablecoins as new risks poses a significant threat to the national financial sector. (Jin10)

ChainCatcher news, Spain's Renta 4 Banco has obtained the MiCA license issued by the Spanish National Securities Market Commission (CNMV), becoming the fourth bank in the country to legally buy, sell, custody, and transfer encryption assets. This authorization allows Renta 4 to provide institutional custody, receive and transmit order services, and offers transfer services for all clients for digital assets such as Bitcoin (BTC), Ethereum (ETH), etc. Previously, BBVA was the first to obtain the license in March 2025 and launched Bitcoin and Ethereum trading services; Cecabank and Santander Digital Bank Openbank both obtained authorization in July. In addition, Spain has also authorized Deutsche Bank and France through the MiCA European passport.

The European Central Bank report indicates that stablecoins may pose risks to financial stability, especially when investors lose confidence in their redemption capabilities. Tether and Circle, as the largest holders of U.S. Treasury bonds, may trigger a bank run that could lead to the dumping of reserve assets, impacting the $25 trillion U.S. Treasury bond market. Despite pressure on the banking industry, the U.S. continues to support the stablecoin industry, with related regulations like the GENIUS Act aimed at reducing risks.

U.S. Senator Cynthia Lummis criticized JPMorgan's anti-crypto stance and called for an end to the "chokehold action 2.0." She believes that the bank's actions undermine public trust and hinder the development of digital assets, particularly expressing dissatisfaction with JPMorgan's closure of the Bitcoin company Strike's account.

Bank of America predicts that gold prices could reach $5,000 per ounce by 2026, due to factors such as supportive economic policies and tight supply. The average gold price for next year is expected to be $4,538, while also raising forecasts for other metal prices.

Odaily News Citibank analyst Alex Saunders pointed out that $80,000 is a key level for Bitcoin ETF holders, and stated that regulatory breakthroughs next year may restore demand. Therefore, the bank maintains its target price for Bitcoin over the next 12 months at $181,000. Alex Saunders mentioned that interest has not disappeared, but long-term holders are taking a cautious approach, while newcomers believe there is not much reason to get involved when Bitcoin is trading below key technical levels. (CoinDesk)

The European Central Bank released a preview of its financial stability review, predicting that the market capitalization of stablecoins will exceed $280 billion by 2025, with USDT and USDC accounting for nearly 90%. The report warns that the widespread use of stablecoins may weaken banks' funding sources and highlights the need for cross-border risk and global regulatory coordination.

ChainCatcher news, financial technology company Revolut Ltd. has reached a valuation of $75 billion in its latest round of stock sales, a significant rise from last year's $45 billion. This financing round was led by Coatue, Greenoaks, Dragoneer, and Fidelity Management & Research Company, with participation from Nvidia's venture capital arm NVentures, Andreessen Horowitz, Franklin Templeton, and accounts managed by T. Rowe Price. Revolut offers services such as checking and savings accounts, international remittances, Crypto Assets, and stock trading.

According to a report by Bloomberg, the European Central Bank pointed out in the pre-release version of its financial stability assessment report on Monday: "Stablecoins are rising rapidly and may be widely used in new application scenarios, which could pose risks to financial stability in the future." The report will be officially released on Wednesday. One risk mentioned in the report is that if stablecoins are widely adopted, households may replace some of their bank deposits with stablecoins—"this would reduce a key source of funding for banks and make their overall funding more volatile," said the European Central Bank.

Banking giant JPMorgan suddenly closed the bank account of Strike CEO Jack Mallers in September, raising concerns again about the "de-platforming" practices of banks against Crypto Assets executives. "Last month, JPMorgan kicked me out of the bank," the CEO of the Bitcoin payment-focused company wrote on Twitter last Sunday. "This is so strange. My father was a private client there for over 30 years. Every time I asked them the reason, their answer was the same: 'We can't tell you.'"

PANews, November 24, reported by Jin10, Barclays Research points out that there remains uncertainty regarding the Fed's interest rate decision next month, but Chairman Powell is likely to push the FOMC to make a rate cut decision. Based on recent speeches, Barclays believes that governors Mulan, Bowman, and Waller may support a rate cut, while regional Fed presidents Musalem and Schmidt tend to favor keeping interest rates unchanged. Governors Barr and Jefferson, as well as Goolsbee and Collins, have shown that their stance is still unclear but leans more towards maintaining the status quo. Governors Cook and Williams rely on data but seem to support a rate cut more. Barclays stated: "This means that before considering Powell's position, there may be six voters inclined to keep interest rates unchanged and five inclined to cut rates." The bank added that Powell will ultimately dominate this decision, as the threshold for governors to publicly oppose his stance is very high.

Odaily News According to FDIC data, U.S. banks had an unrealized loss of $395 billion in investment securities in the second quarter.

Golden Finance reports that the relaxation of regulations by American banks is expected to release about $2.6 trillion in loan capacity, enhancing their valuation relative to European banks. Analysts believe this will promote lending, mergers and acquisitions, and technology investment, thereby boosting profits and market share, supporting the rise of U.S. bank stock prices.

According to Jincai Finance and Nikkei News: Bank of Japan committee member Kazuhiro Ikeda stated that we are about to make a decision on raising interest rates. I can't say which month, but we are approaching the timing for a rate hike.

According to a report by the Korean Broadcasting Company (KBC), a loan manager at Gwangju Bank in South Korea embezzled $724,620 from the bank and used it for Crypto Assets investment. The bank stated that the unnamed manager stole the funds between May and November 2023, but the disappearance of the funds was only discovered in the second half of this year. A spokesperson for Gwangju Bank stated: "During a recent review of the historical data on project financing loan interest, we discovered this embezzlement case. We will decide on the extent of disciplinary action to be taken after completing the internal audit." The spokesperson mentioned that the employee has repaid the bank $105,581.

According to ChainCatcher news, the Secretary for Financial Services and the Treasury of Hong Kong, Hui Chengyu, stated that they are jointly advancing research on the applicability of existing laws to tokenized bonds, in order to promote the adoption of tokenization technology in the Hong Kong bond market. Details will be announced in the first half of next year. Hui Chengyu mentioned that the previously issued third batch of tokenized green bonds introduced the option of settlement in Central Bank currencies tokenized in RMB and HKD, making it one of the first digital bonds globally to apply these two tokenized Central Bank currencies in the settlement process.

According to ChainCatcher news and Jin10 reports, Standard Chartered Bank expects the Fed to cut interest rates in the first quarter of 2026, most likely in January, whereas the previous forecast was that there would be no rate cuts in 2026.

ChainCatcher news, according to Jin10 reports, Jussi Hiljanen, chief strategist of the research department at Nordea Bank in Sweden, stated in a report that he still expects the yield on the 10-year U.S. Treasury bond to fall to 3.9% in the first quarter of 2026. He pointed out that to achieve this goal, the market must re-establish confidence in the Fed's rate-cutting path. Although recent hawkish remarks from Fed officials have increased uncertainty in the short term, he emphasized that a shift to a more accommodative policy stance, a reduction in interest rate expectations, and lower yields remain his benchmark scenario in the next three to four months.

According to Golden Finance, the Central Bank of Norway (Norges Bank) has incurred hundreds of millions of dollars in losses on its investment in Strategy, formerly known as MicroStrategy. Unlike the Fed and other central banks, Norges Bank directly invests in stocks, including common stocks of Strategy (stock code: MSTR) and other stock index components. Sometimes, such investments can result in losses. In fact, this sovereign wealth fund has experienced losses this year in its investments in several listed companies in Canaan, MARA, and the Crypto Assets sector. Norwegian banks began to buy MSTR stock in small amounts since 2008 - at that time, Strategy had not yet transformed into a Bitcoin (BTC) reserve company - but increased their holdings during 2024. As of June 30, 2024, Norway has

PANews, November 21, news, the Governor of the People's Bank of China, Pan Gongsheng, recently attended the launch ceremony of the China-UAE Payment Cooperation Project together with the Vice President of the UAE, Mansour, and the Governor of the Central Bank, Khaled. The two sides signed a memorandum of understanding on cross-border payment connectivity, announced the interconnection of the two countries' fast payment systems, and supported online fast cross-border remittances for enterprises and individuals; witnessed the first transaction of the "UnionPay-Jaywan" dual-brand card; and officially launched the UAE multilateral digital currency bridge project JISR to promote bilateral financial cooperation and improve cross-border payment efficiency.

Investment bank Jefferies reports that the stablecoin Tether has become a significant buyer in the gold market, holding 116 tons of gold and becoming the world's largest non-sovereign holder of gold. With the rise of USDT, Tether may continue to increase its gold reserves.

BlockBeats news, on November 21, Federal Reserve Bank of Philadelphia President Harker stated that when considering monetary policy over a longer period, one should focus on balancing Inflation and labor market risks. There are upward risks to inflation and downward risks to employment, and monetary policy must be cautiously balanced. The U.S. economy is performing well. The rate cuts so far have been appropriate, but each rate cut sets a higher threshold for the next one. (Jin10)

According to ChainCatcher news, Jin10 reported that Fed's Goolsbee stated that if the government could tell the central bank how to handle interest rate issues, Inflation would rise, and economic growth would slow down. He emphasized that the loss of independence by the Fed would be painful for him and the market.

The Federal Reserve Board of Governors Cook warns that the complexity of leveraged companies in the financial sector is increasing, and it is necessary to monitor the unexpected losses from private credit on the financial system, especially the vulnerabilities that may arise from the expansion of hedge funds in the Treasury market. Despite the challenges, the financial system remains resilient.

ChainCatcher message, the self-custody Web3 bank Tria announced the launch of its one-month Treasure event to reward those who have been using Tria. Specifically, from November 19 to December 15, Tria will fully reimburse one eligible X user for a Tria consumption every day.

Odaily News Wall Street investment bank JPMorgan stated that the market performance of Bitcoin treasury company Strategy has been relatively poor recently, and the recent market decline has led to increasing concerns that index provider MSCI may remove the company from key stock indices on January 15, 2026. Analysts believe that if MSCI removes Strategy, it could further impact the crypto market and exacerbate fluctuations, while losing the status as a major index component will also damage Strategy's reputation and raise doubts in the market about its financing capabilities in the stock and bond markets. (CoinDesk)

Deutsche Bank analysts pointed out that the market's focus on the September non-farm report has been delayed, which may affect the decision to cut interest rates in December, especially in the current situation where the employment market's rise rate is low, and any signs of weakness are attracting attention.

Odaily News The Governor of the Central Bank of India stated that a cautious approach is being taken towards Crypto Assets and stablecoins. (Jin10)

Golden Finance reported that Bloomberg cited informed sources stating that a Chinese venture capital company has acquired a stake in ByteDance, valuing the company at $480 billion. According to reports, venture capital firm Today Capital has outbid several interested companies to acquire shares from ByteDance's early institutional investor, Bank of China. Initially, this batch of shares was priced at about $200 million, corresponding to a valuation of approximately $360 billion for ByteDance. However, with as many as seven institutions participating in the bidding, the price quickly escalated, and in the end, Today Capital, led by Chinese venture capital queen Xu Xin, purchased the shares for nearly $300 million at a company valuation close to $500 billion.

According to ChainCatcher news and a report from CoinDesk, India plans to launch a stable digital asset ARC pegged 1:1 with the rupee in the first quarter of 2026, developed jointly by Polygon and local fintech company Anq. ARC will operate on the basis of the Central Bank Digital Currency (CBDC) and adopt a dual-layer structure, issuing only to corporate accounts, aimed at curbing capital flow towards dollar stablecoins and supporting domestic debt needs. This mechanism combines Uniswap v4 Allowlist control, reinforcing Compliance and ensuring monetary sovereignty.