Bitcoin ETFs Are Now BlackRock’s Top Revenue Source, Exec Says

S&P Global Ratings has downgraded Tether's USDT stablecoin to its lowest stability rating, citing concerns over its increasing exposure to Bitcoin and governance issues. This downgrade has sparked a significant online backlash, with Tether asserting its financial strength and criticizing the rating methodology used by S&P.

Architect Partners has asserted that the Bitcoin digital asset treasury model is not broken, countering prevailing concerns about the sustainability of Bitcoin investments amid market volatility. This statement comes as Bitcoin's price fluctuates significantly, recently rebounding toward $92,000 after a notable sell-off.

Ethereum developers are preparing for the Fusaka upgrade, the second significant upgrade of 2025, scheduled for December 3. This upgrade aims to enhance the network's capacity and efficiency, following the previous Pectra upgrade. The anticipation surrounding Fusaka is heightened by recent adjustments, including an increase in the block gas limit to 60 million.

Ethereum's price has recently stabilized around $3,000 after a significant rebound in the broader cryptocurrency market, gaining 7.22% following a prolonged correction that saw its value drop from $4,700 to as low as $2,900. This recovery coincides with a notable decrease in open interest in Ethereum futures, which fell from $21 billion to approximately $17 billion in late November.

BlackRock reported $2.34 billion in outflows from its iShares Bitcoin Trust (IBIT) in November, which the company described as a normal occurrence given the previous demand that had pushed the ETF close to $100 billion in assets.

Denis Dariotis, the founder and CEO of GoQuant, a cryptocurrency-focused trading software firm, has built a billion-dollar-a-day trading startup, starting his trading journey at the age of nine. His early involvement in trading has shaped his entrepreneurial path and the development of his company.

Phong Le, CEO of Strategy, announced that the company has no immediate debt maturity risks and intends to leverage convertible securities and equity to enhance its Bitcoin holdings over time. This strategy aims to position the company favorably in the cryptocurrency market amidst ongoing volatility.

Kalshi, a regulated prediction market platform, is currently facing setbacks as court cases continue to unfold, impacting its operations and future prospects. This situation highlights the ongoing legal challenges that prediction markets encounter in the evolving cryptocurrency landscape.