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Kevin Hassett, Director of the White House National Economic Council (NEC), is no longer the clear frontrunner to be President Donald Trump's nominee for the next Federal Reserve Chair, CNBC reported, citing multiple sources. According to the report, concerns have been raised among the president's aides that the close relationship between Trump and Hassett could compromise the Fed's independence. Some also project that the bond market could react negatively in the long term if Hassett is perceived as a pro-Trump figure, with potential for interest rate hikes depending on his approach to inflation. In a CBS "Face the Nation" interview last weekend, Hassett stated that while the president has a clear position, the Fed is an independent body that makes policy decisions based on data and consensus among FOMC members, not the president's views. Data from the decentralized prediction market Kalshi shows Hassett's nomination probability has fallen from over 80% earlier this month to 31%, while former Fed Governor Kevin Warsh's odds have risen to 52%.

PayPal has submitted an application to the U.S. Office of the Comptroller of the Currency (OCC) to establish a bank specializing in loans for small businesses in the United States, Watcher.Guru reported. If approved, the move would allow PayPal to expand its functions as a full-fledged financial institution beyond its traditional payment services.

The U.S. Senate Banking Committee will not hold a markup hearing this year on a bill to regulate digital asset market structure, effectively postponing the legislation until 2026, CoinDesk reported. The crypto market structure bill, known as the CLARITY Act, has been a key focus for the industry. A committee spokesperson said in a statement that while Chairman Tim Scott and the committee have made significant progress in negotiations with Democrats, talks are still ongoing. The spokesperson confirmed there will be no markup hearing before the end of the year.

An analysis suggests that Solana (SOL) is still maintaining a strong position relative to Bitcoin (BTC). According to Altcoin Vector, the altcoin analysis X account for Swissblock, SOL experienced a major decline in the fourth quarter but has not yet tested the double-bottom support level formed against BTC between April and June. This indicates that SOL's technical structure remains intact. The analysis added that if SOL continues to consolidate at its current levels, it could serve as a meaningful signal for a rebound.

Self-custody crypto wallet Trust Wallet (TWT) has introduced a Gas Sponsorship feature that allows users to swap tokens on the Ethereum network without paying gas fees, CryptoBriefing reported. The feature enables users to conduct up to four free swaps of Ethereum-based tokens daily with a minimum value of $50, even if their wallet contains no ETH. While the feature is currently limited to swaps on Ethereum, it is also available on BNB Chain with no minimum transaction amount. Trust Wallet plans to expand the gas-free service to include token transfers in the future.

PayPal has launched the PYUSD Savings Vault on the DeFi lending protocol Spark to enhance the utility of its stablecoin, The Block reported. The product is designed to allow PYUSD holders to earn on-chain yield, offering an annual percentage yield (APY) of up to 4.25%. PayPal and Spark previously set a deposit target of $1 billion for the vault, which attracted $200 million in deposits within its first 24 hours.

Coinbase has announced support for deposits and withdrawals of USDC on the Polkadot network.

The number of active Bitcoin addresses, a key indicator of network activity, has fallen to its lowest level in a year, raising new concerns about demand for blockspace, The Block reported. The seven-day moving average for active addresses has declined to 660,000, the lowest point since December 2024, when network activity peaked amid speculation in Ordinals and Runes.

Former U.S. Securities and Exchange Commission (SEC) Commissioner Paul Atkins has warned against the potential for excessive federal government surveillance in the regulation of the cryptocurrency industry, Coindesk reports. Speaking at a roundtable on financial surveillance and privacy at SEC headquarters, Atkins said it is not difficult to imagine the government using crypto technology to gain near-total visibility into individuals' financial lives by collaborating with various intermediaries. He cautioned that if every wallet is treated like a broker, every piece of software like an exchange, every transaction as reportable, and every protocol as a convenient surveillance node, the government would transform the ecosystem into a financial panopticon.

BeInCrypto has analyzed five key factors contributing to the recent decline in Bitcoin's price. The reasons cited are: 1. Fears of a potential interest rate hike by the Bank of Japan, which could risk the unwinding of the yen carry trade. 2. Leveraged liquidations combined with thin liquidity, particularly amid low weekend trading volumes. 3. Uncertainty surrounding U.S. macroeconomic data. 4. Selling pressure from market makers in the spot market. 5. A loss of technical momentum.

Forty-five percent of U.S. Gen Z, defined as individuals between 18 and 28 years old, would be happy to receive cryptocurrency as a holiday gift this year, CNBC reported. The finding is based on a global survey of 1,000 adults conducted by Visa. The results suggest that this demographic perceives digital assets as a more desirable gift than traditional items like toys or collectibles.

The UK Supreme Court has dismissed an appeal in a $13 billion (approx. 19 trillion won) lawsuit filed by Bitcoin Satoshi Vision (BSV) investors, clarifying the limits of liability for cryptocurrency exchanges over delisting decisions. According to CoinDesk, the ruling upholds a lower court's decision, which did not recognize claims for future lost profits stemming from an exchange's delisting of the asset.

MetaMask has added support for Bitcoin, allowing users to buy, swap, and send BTC from within their wallets, CryptoBriefing reported.

MoonPay has launched the MoonPay Commerce app exclusively for Seeker, Solana Mobile's second-generation smartphone, according to CryptoBriefing. The app aims to simplify mobile payments and digital asset transactions for Solana users. It integrates MoonPay Commerce and Solana Pay technology, enabling users to shop at online stores and pay with cryptocurrency.

Aster has launched a new private trading mode called Shield Mode, which supports up to 1001x leverage, private order execution, and zero slippage, CryptoBriefing reported.

U.S. Securities and Exchange Commission (SEC) Commissioner Paul Atkins said that public blockchains are more transparent than any financial system built to date, Watcher.Guru reported.

Major exchanges have seen $118 million worth of futures liquidated in the past hour. In the past 24 hours, $688 million worth of futures have been liquidated.

Veteran trader Peter Brandt has warned that Bitcoin (BTC) has broken its parabolic trendline, a technical signal that preceded crashes of over 80% in past bull market cycles. However, Cointelegraph reports that it remains to be seen whether strong institutional demand and strategic reserves in the current market can offset this bearish outlook, unlike in previous bear markets.

BlackRock is hiring seven senior-level professionals across the U.S. and Asia to expand its digital asset strategy, CoinDesk reported. The move aims to grow its digital asset ETF lineup, advance tokenization initiatives, and secure a leading position in the Asian market.

Major exchanges have seen $113 million worth of futures liquidated in the past hour. In the past 24 hours, $567 million worth of futures have been liquidated.

According to CoinNess market monitoring, BTC has fallen below $86,000. BTC is trading at $85,916.7 on the Binance USDT market.

Circle has announced the acquisition of Interop Labs, the development team behind the cross-chain communication protocol Axelar, along with the team's intellectual property.

Coinbase has announced that it will list BEAM.

Russian banking giant Sberbank is testing decentralized finance (DeFi) products to meet surging demand for cryptocurrency, DL News reported. In an interview with Russian media outlet RPC, a Sberbank executive said the bank will work with regulators to develop digital asset products. The executive also expressed confidence that traditional banking and DeFi will soon converge.

A U.S. government official has stated that the Russia-Ukraine issue is 90% resolved, Walter Bloomberg reported.