The EUR/USD pair kicks off the new week on a softer note, though it remains within striking distance of the highest level since early October, touched last Thursday. Spot prices currently trade around the 1.1730 region, down less than 0.10% for the day.
Key Hyperunit whale expands Ethereum position amid weak prices
A major crypto whale has opened a long position in Ethereum (ETH) worth more than half a billion dollars on the Hyperliquid exchange.
According to Arkham Intelligence data, the entity, popularly known as the $10 billion Hyperunit whale, pulled $110 million from Binance on Friday to add to an ETH position now worth over $540 million. The whale is holding an unrealized loss of $14.4 million on this position.
The Hyperunit whale also holds long positions in Bitcoin (BTC) and Solana (SOL) worth $90 million and $33 million, respectively.
Known for turning $850 million in BTC accumulation into a $10 billion portfolio, the whale’s action in the past few months has coincided with key price movements in the crypto market.
During the October crash, the whale executed BTC shorts totalling $485 million, gaining over $200 million as prices tumbled.
Bitcoin, Ethereum remain weak following Fed’s action
The crypto market has been under pressure since the Federal Reserve (Fed) delivered a hawkish rate cut on Wednesday. Despite lowering rates by 25 basis points, the agency maintained a cautious tone, with Fed officials anticipating only one rate cut in 2026.
Bitcoin has declined by 4% since the decision, testing the $90,000 level at publication time on Friday.
Ethereum is down 4% over the past 24 hours, extending its loss since Wednesday to 8% after breaching the $3,100 level. Solana has also faced its fair share of loss, declining by 7% since the Fed’s decision.
Ripple, Circle and others receive conditional approval for US banking charter
The US Office of the Comptroller of the Currency (OCC) announced on Friday that it has conditionally approved national bank trust charters for several digital asset firms.
Ripple and Circle received the approval for their respective entities, Ripple National Trust Bank and First National Digital Currency Bank. Meanwhile, BitGo Bank and Trust, Fidelity Digital Assets, and Paxos Trust Company received conditional approval to convert from state trust companies to national trust banks. The companies will gain full approval after “meeting the OCC’s conditions.”
A national bank trust charter enables these firms to operate as regulated banks that hold clients’ assets, but they cannot accept cash deposits or engage in lending.
“New entrants into the federal banking sector are good for consumers, the banking industry and the economy,” said Comptroller of the Currency Jonathan V. Gould.
BitGo gets full approval, now a federally chartered bank
BitGo confirmed a few hours after the announcement that it had met the OCC’s conditions for full approval and is now a federally chartered bank. Prior to the announcement, Anchorage Digital was the only crypto firm with a national bank charter.
“Regulators are responsibly bringing digital asset companies into the financial system to unlock new assets, new markets, and 24×7 global payments,” wrote BitGo CEO and cofounder Mike Belshe in a Friday X post.
Ripple CEO Brad Garlinghouse also praised the move, calling it a “massive step forward,” for the firm’s RLUSD stablecoin, which will now have federal and state oversight.
The move comes as the crypto industry has experienced a soft regulatory environment under President Donald Trump’s administration. The passage of the GENIUS Act for stablecoin regulation this year marked a key milestone for crypto firms.
Eurozone CFTC EUR NC Net Positions up to €990K from previous €91.8K
Gold now gives away some gains and disputes the key $4,300 zone per troy ounce following earlier multi-week highs. The move is being driven by expectations that the Fed will deliver further rate cuts next year, with the yellow metal climbing despite a firmer Greenback and rising US Treasury yields across the board.
United States CFTC S&P 500 NC Net Positions fell from previous $-163.9K to $-1474K
Gold now gives away some gains and disputes the key $4,300 zone per troy ounce following earlier multi-week highs. The move is being driven by expectations that the Fed will deliver further rate cuts next year, with the yellow metal climbing despite a firmer Greenback and rising US Treasury yields across the board.
Australia CFTC AUD NC Net Positions fell from previous $-71.6K to $-759K
Gold now gives away some gains and disputes the key $4,300 zone per troy ounce following earlier multi-week highs. The move is being driven by expectations that the Fed will deliver further rate cuts next year, with the yellow metal climbing despite a firmer Greenback and rising US Treasury yields across the board.
United States CFTC Oil NC Net Positions up to 692K from previous 74.9K
Gold now gives away some gains and disputes the key $4,300 zone per troy ounce following earlier multi-week highs. The move is being driven by expectations that the Fed will deliver further rate cuts next year, with the yellow metal climbing despite a firmer Greenback and rising US Treasury yields across the board.
Japan CFTC JPY NC Net Positions up to ¥312K from previous ¥51.3K
Gold now gives away some gains and disputes the key $4,300 zone per troy ounce following earlier multi-week highs. The move is being driven by expectations that the Fed will deliver further rate cuts next year, with the yellow metal climbing despite a firmer Greenback and rising US Treasury yields across the board.
United States CFTC Gold NC Net Positions: $2103K vs $202.3K
Gold now gives away some gains and disputes the key $4,300 zone per troy ounce following earlier multi-week highs. The move is being driven by expectations that the Fed will deliver further rate cuts next year, with the yellow metal climbing despite a firmer Greenback and rising US Treasury yields across the board.
United Kingdom CFTC GBP NC Net Positions dipped from previous £-55K to £-793K
Gold now gives away some gains and disputes the key $4,300 zone per troy ounce following earlier multi-week highs. The move is being driven by expectations that the Fed will deliver further rate cuts next year, with the yellow metal climbing despite a firmer Greenback and rising US Treasury yields across the board.