It was a busy and uneasy week for crypto, with big banks stepping in just as new rules and macro pressures kept traders on edge.
Here are the top headlines to catch up on!
The National Bank of Canada has taken a surprising step into Bitcoin by buying 1.47 million MicroStrategy shares, a stake now worth about $273 million. It’s a clear sign that even traditional banks are warming up to crypto.
Instead of holding Bitcoin directly, the bank is tapping into Saylor’s strategy to ride the upside.
Binance has added co-founder Yi He to the top job, naming her co-CEO alongside Richard Teng as the exchange edges toward 300 million users. Her appointment marks a steady shift in leadership after CZ’s exit and recent pardon.
Yi He has long shaped the company behind the scenes, and now steps forward as Binance pushes into a more regulated, Web3-focused future.
CZ lit up the crypto world after claiming he beat Peter Schiff in a Bitcoin-vs-gold debate in under a minute, using a gold bar to show how slow and clunky the metal really is. Schiff didn’t budge, still calling Bitcoin pure speculation, but the surprise twist came after – CZ says the two are now actually friends, ending years of online jabs on a lighter note.
The UK has finally put crypto on firm legal ground, passing a new law that treats digital assets as property that can be owned, inherited, and recovered, just like anything else you legally possess. Industry groups are calling it a major step forward, closing years of uncertainty and giving courts clearer rules as Britain pushes to position itself as a digital-finance leader.
Bank of America now says its wealth clients should consider putting 1%-4% of their portfolios into crypto, marking a big shift for a bank that once kept digital assets at arm’s length.
Starting in January, advisers will be allowed to recommend several Bitcoin ETFs. The move follows growing demand from clients and rising momentum as Wall Street steadily warms to crypto exposure.
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Upbit is wiping every deposit address on its platform after the recent $36 million breach , forcing all users to generate new ones before sending funds again. The exchange is rebuilding its wallet system from the ground up as regulators watch closely.
It’s a drastic move, but Upbit says it’s the only way to ensure no lingering vulnerabilities remain.
Kevin Hassett has thrown fuel on rate-cut expectations, saying the Fed is “likely” to trim rates at next week’s meeting. Odds quickly surged, backed by economists and FedWatch data. But the split inside the FOMC remains unusually sharp, with inflation still sticky.
A December cut would ripple across global markets and set the tone for 2026.
South Korea is pushing ahead with its second-phase Digital Asset Basic Act, backing a plan that would require stablecoin issuers to be bank-controlled consortiums with at least 51% bank ownership.
The proposal ends months of debate between regulators and the central bank, though key details remain unsettled. Lawmakers expect to begin formal discussions this month, with final legislation likely in early 2026.
The Bank of Japan is widely expected to raise rates to 0.75% at its Dec. 19 meeting, marking the country’s highest level since 1995. Officials say the move depends on no sudden economic shocks, but Governor Ueda’s recent comments have already pushed market odds near 90%.
The BOJ is also keeping the door open to further hikes, depending on how the economy responds.
Also Read: Japan Bond Yields Hit Highest Since 2008 – Expert Warns “The Anchor Has Broken”
Brian Armstrong says Coinbase is working with several major U.S. banks on pilot programs for stablecoins, custody and crypto trading – another sign that traditional finance is slowly warming up.
While he didn’t name the banks, Coinbase already has active projects with Citi, JPMorgan and PNC. Armstrong’s message was clear that the banks embracing crypto now are the ones that won’t be left behind.
Celsius is moving ahead with its biggest payout yet , setting aside $476 million for creditors – more than double the last round. The estate now holds $531 million in net assets after a major Tether payment, with $55 million reserved for winding down operations.
Another $579 million remains tied up in disputes, meaning at least two more payout rounds are still expected.
Crypto enters the week on slightly steadier ground, helped by rising interest from major banks and clearer regulation from the UK and South Korea. Still, sentiment remains cautious with the Fed expected to cut rates and the BOJ preparing to hike, pulling global markets in different directions.
If Bitcoin holds key support, volatility may ease, but traders should expect sharp moves as liquidity thins into mid-December.
