What Will US Economic Data Mean For Crypto Crash? Latest SEC News, Prelim GDP, Jobless Claims and Core PC

The SEC’s Investor Advisory Committee is scheduled to meet on December 4 to review tokenized equities and artificial intelligence disclosure rules, highlighting the regulatory body's increasing focus on emerging technologies in the financial sector.

Ethena's total value locked (TVL) has plummeted from $14.8 billion to $7.6 billion, marking a significant decline of over 50%. This drop underscores the volatility associated with yield-bearing stablecoins, as traders rapidly exited their positions on various platforms.

The South African Reserve Bank has identified the increasing use of cryptocurrencies and stablecoins as a significant financial stability risk, citing regulatory gaps and a surge in trading volumes. This warning highlights concerns over the potential impact of unregulated digital assets on the financial system.

Solana's price surged to approximately $136 as traders identified early signs of a trend reversal, moving closer to a significant resistance level. This increase follows a bounce from a critical support zone, indicating potential short-term bullish momentum in the cryptocurrency market.

Klarna, the Swedish buy-now, pay-later company, has announced the launch of its own stablecoin, KlarnaUSD, marking a significant shift from its traditional lending model into the cryptocurrency payments sector. This new token operates on a blockchain developed by Stripe, aiming to enhance transaction efficiency and reduce costs for users globally.

The U.S. Commodity Futures Trading Commission (CFTC) has initiated nominations for a new CEO-led advisory group aimed at influencing policy on cryptocurrency, prediction markets, and other emerging financial products. This move is part of a broader effort to engage industry leaders in shaping regulatory frameworks that address the evolving landscape of digital assets.

South Africa's central bank has identified cryptocurrencies and stablecoins as significant financial risks, citing a surge in trading volume and user numbers on major exchanges, alongside regulatory gaps in the country's framework. This announcement reflects growing concerns about the stability of the financial system in light of increasing crypto activity.

The SEC has introduced new guidelines that could significantly accelerate the approval process for cryptocurrency exchange-traded funds (ETFs), aiming to reduce the backlog of pending applications and provide issuers with a more streamlined pathway to market. This development is expected to reshape the crypto ETF landscape positively.