Industry integrations paved the way for crypto adoption as new players considered entering the industry—the new winds of change in D.C. may have something to do with that, as the Biden administration sunsets.
The headlines:
- Goldman Sachs wants to sell a part of its blockchain business;
- Heavy hitters filed for Solana ETFs;
- Cboe launched cash-setted Bitcoin options;
- Thanks to a new feature, there are no more gas fees for MetaMask wallet users;
- Plus, beware of big crypto players; Charles Schwab is coming to crypto big time! (more on that later);
- And much more!
As always, these are your decentralized diaries!
Bitcoin is at $97k (as of 11/25)
The crypto bull run continued upward, with Bitcoin prices moving from an $89,765.24 low to a $99,655.50 high, finally settling at $97,951.88 (as of 11/25/24).
The altcoins are (also) aligned with crypto’s top coin. Ethereum (ETH) is at $3,472.29, Solana (SOL) at $249.49, Avalanahce (AVAX) at $44.56, Polkadot (DOT) at $8.78, Chainlink (LINK) at $18.18, Sui (SUI) at $3.36 and Aptos (APT) at $12.53.
Goldman Sachs Plans to Sell its GS DAP Business Unit
Investment behemoth Goldman Sachs is (reportedly) exploring ways and means to spin off its GS DAP blockchain-based unit. GS DAP is a part of Goldman’s blockchain efforts and aids institutional portfolio management via smart contracts.
According to a company statement, the business unit could become an industry-wide platform.
The Solana ETF Races Heated Up
The crypto bullish season brought more than (just) massive price movements. Several developments, including Solana ETFs, are taking center stage. Several finance giants, including VanEck, 21Shares, Bitwise, and Canary Capital, filed several forms with the SEC for Solana ETFs.
Following the SEC’s acknowledgment of the filings, a 240-day review period will begin.
Cboe will Launch a Cash-Settled Spot Bitcoin Options Offering on December 2
In a November 22 announcement, Cboe revealed the (upcoming) unveiling of a cash-settled Bitcoin options product. Trading for the first offering of its kind will begin on December 2.
Additionally, the product will leverage the Cboe Bitcoin U.S. ETF Index (Ticker: CBTX) and will be SEC-regulated.
The SEC Postponed its Decision on Franklin Templeton’s ETFs
Again, the SEC shifted its verdict on Franklin Templeton’s crypto ETFs to early next year. According to November 20 filings, the regulator set January 6, 2025, as the deadline for a decision on the Franklin Crypto Index ETF.
The SEC has yet to receive any comment letters upon the expiry of the 45-day review period.
In related news, the Sui Foundation, the managing entity behind the Layer 1 blockchain of the same name, revealed its collaboration with Franklin Templeton Digital Assets. The move expands on previous interactions between the duo.
Consequently, the cooperation will focus on innovation, creating new industry opportunities.
MetaMask Introduced a Fee-Free Solution for Ethereum Transactions
Thanks to new swap capabilities, users of the premier Ethereum wallet MetaMask can now swap tokens without gas. MetaMask introduced Gas Station, a feature that lets users swap crypto tokens without gas fees.
Gas Station combines gas fees with the swap price, saving costs.
Securitize Launched an RWA Liquidity Token
On the tokenization end, Securitize partnered with synthetic dollar project Elixir to unveil the sToken on the Ethereum blockchain. The sToken is an RWA liquidity token that factors in the value of real-world assets (RWAs) and creates profit avenues for investors and other ecosystem participants.
Consequently, sToken is only available to accredited holders of the BlackRock BUIDL token.
Charles Schwab May Dip its Toes in the Crypto Space if America Grants Legal Clarity
According to Rick Wurster, Charles Schwab’s incoming CEO, the investment giant may enter the industry once the government enacts clear laws to regulate it. In a November 21 Bloomberg interview, Wurster revealed that the bank plans to introduce spot crypto trading after regulation.
Additionally, Wurster revealed increased client interest and Schwab’s intentions to offer direct crypto trading.
Webull Partnered with Coinbase Derivatives for Retail Crypto Futures Offerings
Webull collaborated with Coinbase Derivatives to enable crypto futures trading for American retail traders. The partnership aims to offer (smaller) retail contracts covering Bitcoin, nano Bitcoin, Ethereum, and nano Ethereum.
Furthermore, the cooperation aims to enable portfolio diversification and increased choices for Webull’s users.
Aptos Blockchain Plans to Integrate Stripe and USDC to its Ecosystem
In a November 21 blog post, Layer 1 blockchain Aptos revealed the deployment of the USDC and its accompanying Cross-Chain Transfer Protocol (CCTP). The move will also include a Stripe-powered fiat-to-crypto onramp.
In addition, the integration will enable the transfer of the USDC stablecoin across eight blockchains, including Ethereum, Base, and Solana.
1inch Introduced Cross-Chain Currency Swap Capabilities
Boutique DeFi operator 1inch continued to push the sector forward with Fusion+, a cross-chain crypto swap feature. Fusion+ is also available on the 1inch decentralized application (dApp) and in its wallet.
The offering leverages atomic swaps, ensuring smooth transactions by eliminating partial and failed token transfers.
FTX will Pay its Creditors in March 2025
There’s some light at the end of the FTX tunnel. In a November 21 announcement, the bankrupt crypto exchange revealed that payments could begin as early as March next year.
Although FTX is yet to announce a date for the disbursements, the exchange will announce a schedule in December after negotiations with partners who helped it claw back the $16.5 billion it wants to distribute.
