Bitcoin is on the brink of hitting $100,000, coming within 1% of the milestone on November 22. After a brief dip below $96,000, BTC rebounded, setting the stage for a potential breakthrough. Trader Skew suggests a "violent breakout" could occur once Bitcoin surpasses the $100,000 mark, as current price levels are steadily absorbing available supply. Meanwhile, some traders are tempted to short BTC, but experts warn of potential squeezes. On the exchange front, Binance's trading volume has halved since its peak earlier this month, indicating a cautious market mood.

Charles Schwab is gearing up to offer spot crypto trading, pending favorable regulatory changes in the U.S., according to incoming CEO Rick Wurster. Despite not personally investing in crypto, Wurster acknowledges its popularity and potential profitability. Schwab's clients are already active in crypto via ETFs and futures. The firm faces competition from Fidelity, Robinhood, and Webull. Wurster, set to become CEO on Jan. 1, also highlighted the transformative role of AI in wealth management, enhancing efficiency in client interactions. Schwab's recent survey shows crypto's rising appeal among ETF investors.

**Texas Lawmakers Eye Strategic Bitcoin Reserve**

Texan lawmakers are in early talks about creating a strategic Bitcoin reserve, according to the Satoshi Action Fund (SAF). SAF CEO Dennis Porter discussed this at the North American Blockchain Summit, highlighting the potential impact on Texas's economy, the world's eighth largest.

The idea isn't new in the U.S.; similar legislation has been proposed in states like Pennsylvania and by Senator Cynthia Lummis. Advocates argue that such reserves could protect against inflation and secure U.S. Bitcoin mining from foreign influence. The concept is gaining momentum, with international interest also rising.

**Crypto Lawsuits May Fade as SEC Chair Gensler Steps Down**

With SEC Chair Gary Gensler set to step down in January, many securities lawsuits against crypto firms in the U.S. might quietly disappear, according to Pantera's legal officer, Katrina Paglia. Speaking at the North American Blockchain Summit, Paglia suggested that while some settlements are likely, the SEC might not pursue all claims aggressively.

She anticipates some cases will end with "neither admit nor deny" statements, allowing defendants to settle quietly. Paglia also hinted at the possibility of the SEC issuing no-action letters, especially if Commissioner Hester Peirce takes charge of crypto matters.

**Solana Hits New High Amid Crypto Surge**

Solana (SOL) reached a record $262.64 on Nov. 22, marking a significant recovery since the FTX collapse two years ago. This surge follows an 11% gain in 24 hours, and SOL has skyrocketed 160% since early 2024. The boost comes as Bitwise, VanEck, 21Shares, and Canary Capital filed for Solana ETFs. Analysts now eye $400 for SOL.

The crypto market is buzzing, with total market cap hitting $3.42 trillion, fueled by potential regulatory shifts under Donald Trump and SEC Chair Gary Gensler's upcoming resignation. XRP, Cardano, and Avalanche also saw impressive gains.

**Crypto Research Hub at RMIT Faces Uncertain Future Amid Market Surge**

RMIT University's Blockchain Innovation Hub is in limbo, despite a booming crypto market. Professor Ellie Rennie initially claimed on X that the center was shut down, but later clarified that discussions are ongoing. The hub, launched in 2017, struggles with funding due to insufficient high-quality research output. As Bitcoin surges post-Trump's election win, the timing of this uncertainty is notable. The decision on the hub's fate rests with RMIT's Deputy Vice-Chancellor of Business, Professor Colin Picker. Discussions continue as the hub seeks a sustainable future.

MicroStrategy has wrapped up a $3 billion offering of 0% convertible senior notes, aiming to use the funds to purchase more Bitcoin. These notes, maturing in December 2029, are sold at a 55% premium and won't pay regular interest, offering priority in bankruptcy situations. The company could acquire around 30,600 Bitcoin if the entire amount is spent on it. This move is part of MicroStrategy's ambitious "21/21" plan to raise $42 billion over three years. Despite a recent 25% share drop, MSTR remains a top performer, with a 480% increase in 2024. Bitcoin is nearing the $100,000 mark.

Bitcoin's recent surge past $98,300 has sparked a trading frenzy, with the "Bitcoin Industrial Complex" — including U.S. spot Bitcoin ETFs and stocks like MicroStrategy (MSTR) and Coinbase (COIN) — hitting a record $70 billion in combined trading volume on November 21. This shattered the previous day's $55 billion record. Bloomberg ETF analyst Eric Balchunas dubbed the activity "BITSANITY." Notably, MicroStrategy led the charge, despite its shares plummeting over 25% from a peak of $536.7 to $397.28 by the day's end.

Industry leaders are vying for a spot on President-elect Trump's anticipated crypto advisory council, which aims to shape regulatory policy and potentially create a Bitcoin strategic reserve. Key players like Coinbase, Ripple Labs, and a16z are eager to join. While the council might align with the National Economic Council, its structure remains uncertain.

At the North American Blockchain Summit, Dennis Porter emphasized the reserve's importance, likening it to historic US acquisitions. Senator Cynthia Lummis has proposed converting gold to Bitcoin for this reserve, while some, like Mike Novogratz, doubt its feasibility under Trump.

**News Flash: The Graph Unveils GRC-20 for Web3 Data Standardization**

The Graph, a decentralized indexing platform akin to Google for blockchains, has launched a new data standard for Web3 called GRC-20. This initiative aims to redefine how data is structured and shared across decentralized applications. The GRC-20 standard, proposed by developer Yaniv Tal, seeks to replace the existing Resource Description Framework, which falls short for Web3 needs.

Key elements of GRC-20 include Spaces, Entities, Relations, and Types, which help organize and structure data. The Graph plans to release tools to support this standard soon, with the proposal currently open for public feedback.

NFTs are making waves in the mainstream with Doodles partnering with McDonald's to feature their colorful artwork on over 100 million coffee cups across the US. This collaboration, starting November 18, aims to introduce Web3 to a broader audience, with all McDonald's locations expected to stock the cups by November 21. The Doodles NFT collection has seen a significant boost, with its floor price more than doubling. This partnership is being hailed as a major milestone for Web3 brands, showcasing the potential for NFT projects to create cultural moments on a massive scale.

FTX's bankruptcy estate has announced a timeline for creditor and customer reimbursements, aiming for completion by January 2025, with initial payouts expected in March 2025. In early December, FTX will collaborate with distribution agents to manage the payout process. Interim CEO John J. Ray III emphasized efforts to return funds swiftly. Despite a US judge's approval of the reorganization plan, some creditors are dissatisfied, leading to lawsuits to recover more assets. Recent legal actions target exchanges like KuCoin and Crypto.com, and individuals like Anthony Scaramucci, seeking to reclaim significant funds.

**UK to Unveil Crypto Regulatory Framework in Early 2025**

The UK is gearing up to introduce a draft regulatory framework for crypto assets early next year, as announced by Economic Secretary to the Treasury, Tulip Siddiq, at the Tokenisation Summit in London. This framework will address stablecoins, staking services, and cryptocurrencies.

The Labour government, led by Keir Starmer since July 2024, is taking over from the previous Conservative administration, which had aimed to make the UK a crypto hub. However, the UK has been perceived as a challenging regulatory environment.

While the EU's MiCA regulation is set to be fully implemented soon, the UK is striving to clarify its stance on crypto to remain competitive in the global market.

**Crypto Industry Scores Legal Win Against SEC's Broker-Dealer Rule**

A U.S. District Judge has struck down the SEC's controversial broker-dealer rule, which aimed to redefine "broker" to include liquidity providers and market makers with over $50 million in capital. Judge Reed O'Connor ruled the SEC overstepped its authority.

Crypto advocates, like Marisa Tashman Coppel from the Blockchain Association, hailed the decision as a significant victory. However, the SEC may appeal in the 5th Circuit Court. Critics argued the rule imposed unrealistic regulations on decentralized networks, sparking backlash from industry leaders and SEC commissioners.

Mastercard and JPMorgan have teamed up to enhance cross-border business payments. By integrating Mastercard's Multi-Token Network (MTN) with JPMorgan's Kinexys Digital Payments, mutual clients can now settle transactions more efficiently through a single API. This collaboration aims to reduce time zone issues and boost transparency and speed.

Kinexys, originally launched as Onyx in 2020, has grown significantly, handling $2 billion in daily transactions. Recently rebranded, Kinexys plans to integrate with JPMorgan FX Services for onchain forex settlements. Mastercard's MTN, tested since June 2023, continues to explore new digital asset innovations.

**CFPB Finalizes Rules for Digital Payment Platforms, Excludes Crypto**

The Consumer Financial Protection Bureau (CFPB) has finalized its rules for "Larger Participant" criteria, focusing on digital payment platforms like Apple Pay and Venmo. These rules apply only to transactions in US dollars, excluding crypto assets such as Bitcoin and stablecoins.

The decision follows pushback from crypto advocates and lawmakers, who argued that including digital assets could harm the crypto ecosystem. Initially, the CFPB aimed to extend oversight to crypto wallets, but industry resistance led to the exclusion of crypto transactions from the final rule.

Bitcoin exchange-traded funds (ETFs) in the U.S. have hit a milestone, surpassing $100 billion in net assets for the first time, according to Bloomberg Intelligence. Since the launch of spot BTC ETFs in January, investor interest has surged, especially after the crypto-friendly President-elect Donald Trump won the election on Nov. 5. BlackRock's iShares Bitcoin Trust (IBIT) leads with $30 billion in net inflows, followed by Fidelity's Wise Origin Bitcoin Fund with over $11 billion. As BTC ETFs near gold ETFs in assets, Bitcoin's price has climbed to over $96,000, marking a 120% increase in 2024.

**Blockchain Firm Informal Systems Unveils Peer-to-Peer Clearing System**

Informal Systems, led by Cosmos co-founder Ethan Buchman, is launching Cycles, a peer-to-peer clearing system aimed at revolutionizing debt settlement without intermediaries like banks. This blockchain-based platform promises to clear debts efficiently through "atomic multilateral settlement," potentially reducing reliance on traditional clearinghouses. Set for a 2025 release, Cycles could transform liquidity management for individuals and businesses, offering features like auto-repayment loans and stablecoin lending. The challenge lies in integrating real-world accounting systems.

**News Flash: SuiHub Global Accelerator Program Launches**

Startups on the Sui blockchain have a new opportunity with the launch of the SuiHub Global Accelerator Program. This initiative, backed by the Sui Foundation and partners, offers up to $200,000 in funding, plus technical and marketing support for pre-token projects. Over a 12-week period, participants will receive mentorship and resources, with funding tied to development milestones.

SuiHub, a collaboration with Dubai's Ghaf Group, aims to foster a vibrant ecosystem in the MENA region. Partners include Brinc and CoinList, providing business development and token launch guidance. Applications close on December 20.

MicroStrategy's bold Bitcoin strategy is turning heads. The company plans to raise $42 billion over three years to fund its Bitcoin acquisitions, sparking debate about the sustainability of its approach. Their "21/21 Plan" involves raising capital through equity sales and convertible bonds, recently securing $4.6 billion from shares and $2.6 billion from bonds. These bonds offer no interest but potential stock conversion profits, tying returns to Bitcoin's volatile market. While MicroStrategy's strategy offers leveraged Bitcoin exposure, it also heightens risk, especially if Bitcoin's price crashes.