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Why the SEC suddenly went quiet
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SEC quietly removes crypto from its 2026 exam priorities
Key points:
The SEC’s 2026 examination priorities contain no standalone section on crypto, marking a shift from previous years that explicitly targeted digital asset activity.
While crypto is not singled out, oversight is expected to continue through custody, fiduciary duty, conduct standards, AI oversight, and new data privacy rules.
News - The US Securities and Exchange Commission has released its examination priorities for the fiscal year ending September 30, 2026, and the crypto sector is largely absent. Unlike previous years, the document contains no dedicated section for digital asset risks, trading activity, or crypto asset-related services.
The SEC clarified that the published list is not exhaustive, meaning examiners can still review crypto firms when necessary. Even so, the omission aligns with the broader political backdrop.
Under President Donald Trump, the US has seen increased support for crypto and a push toward deregulation. His family has also expanded into mining, trading, stablecoins, and token ventures.
SEC Chair Paul Atkins emphasized that examinations should not be a “gotcha” exercise, noting that this year’s priorities aim to give firms transparency and help them prepare for constructive dialogue with examiners.
The Division of Examinations will instead focus on areas such as fiduciary duty, custody of client assets, conduct standards, customer information protection, cybersecurity resilience, and risks tied to emerging technologies like artificial intelligence.
What this means for crypto oversight - The lack of a crypto section does not mean oversight has disappeared. Reviews may now be conducted within broader categories such as custody, conduct, and operational resilience rather than through a standalone audit track. This follows a trend where the SEC folds new risk areas into existing frameworks.
New data privacy rules drive compliance demand - The SEC is prioritizing updated customer data privacy rules that take effect in December 2025 for larger advisers and broker dealers.
Firms must build incident response plans, meet strict notification timelines, and implement robust recordkeeping. This creates openings for compliance technology vendors as the sector prepares for mandatory upgrades.
Libra rug-pull wallets load up on Solana while institutions send mixed signals
Key points:
Wallets tied to the scandal-ridden Libra token have pulled millions in liquidity and rotated more than $60 million into Solana, even as fraud probes and asset freeze battles continue.
At the same time, Solana sits in a tug-of-war between growing ETF interest and treasury stress, with Forward Industries nursing heavy unrealized losses and analysts flagging a bearish chart setup.
News - Wallets linked to the controversial Libra token are quietly turning into major Solana buyers. After yanking nearly $4 million in liquidity from LIBRA, two addresses tagged as “Libra Deployer” and “Libra: Wallet” spent around $61.5 million on Solana at roughly $135 per coin, according to Nansen and Onchain Lens data.
One tracker reports a larger pattern, with Libra affiliated wallets swapping about $61.59 million in USDC for 456,393 SOL across multiple wallets.
These moves come months after LIBRA’s spectacular collapse. In early 2025, insiders allegedly withdrew close to $100 million, wiping out a market cap of around $4 billion within hours. Circle later froze more than $58 million in USDC tied to the project, and a United States court froze 57.6 million USDC before later releasing it once judges concluded victim funds were still recoverable.
Argentine authorities have pursued fraud probes, while lawyer Gregorio Dalbon has requested an Interpol Red Notice for creator Hayden Davis.
Despite that backdrop, the Libra team has continued shifting capital. One report also highlights a separate 128,000 SOL purchase worth about $17 million, framed as a strategic bet on Solana’s high speed, low cost ecosystem.
On-chain analysts say the wallets appear to be moving away from insider heavy memecoin launches and into large altcoin positions during the current market correction.
Solana ETF race heats up without BlackRock - Traditional finance players are building structured exposure to Solana.
Fidelity’s FSOL spot Solana ETF is launching with a 25 basis point fee, alongside rival products from Bitwise, VanEck, Canary Capital, and Grayscale. Open interest in SOL futures has climbed as these products roll out, hinting at rising institutional interest.
BlackRock remains on the sidelines, publicly arguing that assets outside Bitcoin and Ethereum still lack the size and maturity that its ETF lineup requires.
Forward industries’ Solana bet under pressure - Solana’s price slide has also put pressure on one of its largest corporate holders.
Forward Industries accumulated roughly 6.9 million SOL through a $1.65 billion deal and is now sitting on about $677 million in unrealized losses after buying at an average of $232. The firm recently sent 1.8 million SOL, worth more than $200 million, to Coinbase Prime in a series of transfers, sparking fears of a possible sell off.
Some funds later moved back on-chain, and Forward still holds more than 4.1 million SOL, yet analysts warn that Solana’s nearly 29% monthly drop and a developing head and shoulders pattern keep downside risks in focus.
Bitcoin slides under $90K as ETF outflows spike and Mt. Gox wallets stir panic
Key points:
Bitcoin fell to a seven-month low under $90,000 as ETF outflows deepened, Mt. Gox wallets moved more than $950 million in BTC, and market sentiment turned sharply risk off.
Despite the downturn, on-chain data shows whale accumulation picking up again, while El Salvador continues to buy into weakness with more than 1,000 BTC added this week.
News - Bitcoin’s decline accelerated this week after the asset briefly sank below $90,000 for the first time since April, driven by heavy ETF outflows, weakening risk appetite, and renewed fears surrounding Mt. Gox fund movements.
Spot Bitcoin ETFs have recorded $2.59 billion in outflows in November, nearing February’s record month, according to SoSoValue data. Ethereum ETFs saw similar pressure, shedding more than $728 million last week. Analysts link the redemptions to profit protection, portfolio rebalancing, and a broader shift from momentum trading to risk management.
The selling coincides with a large Bitcoin transfer from Mt. Gox’s cold wallets, which moved 10,608 BTC worth roughly $950 million into a new address. A smaller tranche of 185.5 BTC was routed back to Mt. Gox’s hot wallet. While some analysts warned the transfer could precede future selling, no coins have moved to exchanges, and creditor repayments remain delayed until late 2026.
Meanwhile, Bitcoin whales appear to be stepping in as prices fall. Glassnode data shows a rise in wallets holding more than 1,000 BTC since late October, even as smaller holders with 1 BTC or more have declined to yearly lows. Analysts say the market remains in an extreme fear stage, with the Fear and Greed Index falling to 11.
El Salvador has kept buying through the volatility, adding more than 1,000 BTC and pushing its national reserves toward 7,500 BTC. The purchase comes as President Bukele continues policy discussions with US officials on digital asset oversight.
ETF investors now underwater - Glassnode estimates the flow weighted cost basis for US spot Bitcoin ETFs sits near $89,600. Bitcoin’s dip below that level has pushed the average ETF investor into the red for the first time since the products launched. Analysts still expect most holders to stay put, noting their long term allocation profiles.
Analysts weigh BTC downside levels - Some believe that Bitcoin could revisit the 82,000 to 85,000 zone if bearish flows continue, an area tied to long term holder cost basis and historical ETF inflow clusters. Others see potential stabilization, with multiple market watchers pointing to a possible near term bounce if macro pressure eases.
Mastercard brings verified crypto usernames to self-custody wallets through Polygon and Mercuryo
Key points:
Mastercard is extending its Crypto Credential system to self-custody wallets, introducing verified aliases that simplify crypto transfers.
Polygon hosts the on-chain infrastructure, while Mercuryo handles identity checks and issues the aliases and optional verification tokens.
News - Mastercard is taking another step into blockchain infrastructure with the expansion of Crypto Credential to self-custody wallets. The update lets users send and receive digital assets using verified, human-readable aliases instead of long wallet strings, with Polygon selected as the first chain supporting the feature.
Mercuryo will verify users and issue the aliases, which can be linked directly to self-custody wallets. Users can also request a soulbound token on Polygon that signals the wallet belongs to a verified holder. The system aims to reduce the friction that often leads to transfer mistakes and to make crypto payments feel closer to standard digital transactions.
Polygon Labs CEO Marc Boiron said the rollout shows how self-custody can become easier for mainstream users. Mastercard’s blockchain team described the integration as a way to add trust and clarity to token transfers, though broader adoption will depend on whether consumers are comfortable linking verified credentials to their wallets.
Polygon’s network was chosen for its low fees, stable settlement times and recent infrastructure upgrades, including Rio and Heimdall v2, that strengthened finality and reduced reorg risk. The chain already processes a substantial share of United States stablecoin activity, giving Mastercard a payments-focused environment to build on.
The move comes as traditional financial firms continue experimenting with on-chain identity layers and user-friendly blockchain interfaces. By pairing verification with open wallet rails, Mastercard is positioning Crypto Credential as a bridge between existing payment models and the emerging self-custody ecosystem.
How the Alias system works:
Mercuryo completes the KYC check
Alias is issued under Crypto Credential
Alias is linked to a self-custody wallet
Optional Polygon soulbound token shows verified status
Transfers can be routed to aliases rather than long wallet strings
Why Polygon was selected - Polygon offers low transaction fees, predictable confirmations and high throughput. The chain’s upgrades, including Rio and Heimdall v2, improved finality and reduced reorg concerns, making it suitable for large-scale payments infrastructure.
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More stories from the crypto ecosystem
Interesting facts
Corporate treasuries are quietly prepping for crypto’s moment in the spotlight - According to a Q2 2025 survey by Deloitte, nearly 1 in 4 CFOs at major North American firms expect their finance teams to use cryptocurrencies within the next two years, signalling a potential shift in how companies manage capital and payments.
Altcoins are fighting their way back into focus - Data from a mid-2025 review shows that altcoins now command around 43%–44% of the global market cap (as Bitcoin dominance slipped below 57%), up from previous dominance by just one coin, as institutional interest in platforms beyond the original heavyweight grows.
Crypto adoption is creeping from niche to mass worldwide - The Gemini 2025 “Global State of Crypto” report found that crypto ownership in the US, UK, France and Singapore jumped from ~21 % in 2024 to ~24 % in 2025, while memecoins played a surprisingly strong on-ramp for new investors.
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Top 3 coins of the day
Solana (SOL)
Key points:
SOL traded near $137 after sliding steadily from the $200 region earlier in the month.
The Madrid Ribbon stayed fully red while the EWO held deep in negative territory, showing that bearish momentum remained dominant.
What you should know:
SOL extended its November downtrend, drifting from the mid $200 range toward $135 as sellers continued to keep control. The latest session produced a small green candle, but the broader picture stayed weak. Selling volume remained elevated through most of the decline, and the latest bounce came on noticeably lighter activity, hinting that buyers were cautious. The Madrid Ribbon stayed red for several consecutive sessions, with all layers positioned above the price, which showed that downward pressure persisted without signs of compression. At the same time, the EWO printed long red bars well below the zero line, reinforcing that momentum still leaned bearish. External sentiment added to the drag as Solana’s ETF rollout failed to attract meaningful inflows and broader crypto markets faced risk aversion. The main levels to watch now are the $130 support and the $150 resistance zone.
Internet Computer (ICP)
Key points:
ICP climbed toward $5.73 after bouncing from its recent pullback near the $5.20 area.
The 20 and 50 MAs remained in a bullish cross while the DMI kept +DI above -DI, reflecting continued trend strength.
What you should know:
ICP prolonged its recovery after cooling from the early November spike that briefly pushed the token above $9. The latest green candle carried price toward $5.73, supported by a noticeable lift in volume compared to the prior sessions. Price held above both moving averages, and the recent bullish cross between the 20 MA and 50 MA continued to indicate that short-term conditions favored buyers. The DMI supported this view as +DI stayed above -DI while the ADX remained elevated, showing that the current trend still had strength behind it even though bullish pressure eased slightly. Beyond the chart, sentiment received a boost from ecosystem developments tied to AI integrations and cloud collaborations that kept interest in ICP active. The important areas to track now are the $5.20 support and the $6.00 resistance zone.
Hyperliquid (HYPE)
Key points:
HYPE traded around $40 after lifting from its recent base near the $38 zone.
The Parabolic SAR stayed above the latest candles while the AO printed its first green bar after a long red stretch, hinting at early momentum recovery.
What you should know:
HYPE attempted a modest climb after spending several sessions drifting sideways between $38 and $42. The latest green candle showed buyers stepping in, although the broader structure remained cautious. The Parabolic SAR dots continued to sit above the candles, indicating that the short-term trend had not yet shifted in favor of bulls. Even so, the Awesome Oscillator offered a small change in tone by forming a green bar near the zero line after extended selling pressure. This suggested that bearish momentum was losing force, even if a clear upside trend had not yet formed. Outside the chart, attention remained on whale-driven derivatives activity and growing speculation around upcoming HyperEVM-related upgrades, both of which added to market interest. The levels to monitor now are the $38 support and the $42 to $43 resistance region.
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