Crypto Morning Briefing: Hassett emerges as top choice for Fed Chair, SanDisk to replace Strategy in S&P 500
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Crypto Morning Briefing: Hassett emerges as top choice for Fed Chair, SanDisk to replace Strategy in S&P 500
MetaPlanet secures $130 million Bitcoin-backed loan, bringing total drawn amount to $230 million.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
U.S. Releases Key Economic Data
According to Jin10 News, the U.S. PPI monthly rate for September was 0.3%, in line with expectations of 0.3% and up from the previous -0.10%. The year-on-year PPI stood at 2.7%, matching expectations of 2.7% and up from the prior 2.60%. The U.S. retail sales monthly rate for September came in at 0.2%, below expectations of 0.4% and down from the previous 0.60%. ADP Weekly Employment Report: Over the four weeks ending November 8, 2025, private-sector employers reduced an average of 13,500 jobs per week.
Trump Says He Will Visit China Next April
According to Jin10 News, Trump posted on social media that he will visit China next April. "Things can only get better—we have a very strong relationship with China!" he wrote, adding that this communication follows a "very successful" meeting held in South Korea. Since that meeting, both sides have made "significant progress" in ensuring the relevance and accuracy of bilateral agreements.
SEC Investor Advisory Committee to Hold Meeting on December 4 to Discuss Corporate Governance and Equity Tokenization
Per official documents, the U.S. Securities and Exchange Commission (SEC) Investor Advisory Committee will hold a virtual public meeting on December 4, 2025, focusing on topics including regulatory changes in corporate governance and equity securities tokenization. The meeting will also explore potential recommendations regarding disclosure of AI’s impact on issuer operations. The session will begin at 10:00 AM Eastern Time and be livestreamed on the SEC’s official website.
Bitwise: DOGE ETF Launching Soon, Ticker Symbol BWOW
Per an official announcement, Bitwise’s Dogecoin (DOGE) ETF is launching soon, with the ticker symbol BWOW.
Pump.fun Co-Founder Denies "Company Cashed Out $400 Million," Says Fund Transfer Was Part of Corporate Treasury Management
In response to Lookonchain’s report stating that “Pump.fun project team withdrew over $400 million in one week,” Dylan Kerler, co-founder and CTO of Pump.fun, responded on social media, clarifying that the company did not cash out any funds and was not involved in alleged transactions with Kraken or Circle.
Dylan Kerler explained that the fund transfers were part of Pump.fun’s treasury management, moving USDC earned from the PUMP ICO to different wallets so that operational capital could be reinvested into business development.
Berachain Co-Founder Responds to "Nova Digital Has Refund Rights": Claims Information Is Incomplete and Inaccurate, Nova Remains One of Largest Token Holders
Smokey the Bera, co-founder of Berachain, responded on social media to reports claiming “Berachain offered Nova Digital $25 million in refund rights during its Series B funding,” calling the information “incomplete and inaccurate.”
Smokey the Bera clarified details of Brevan Howard’s investment agreement: Brevan Howard co-led Berachain’s Series B round one year ago through its Abu Dhabi office’s Nova fund, with terms identical to those of other investors. Nova’s compliance team requested additional clauses to mitigate risks related to TGE failure and delisting, leading to a supplementary commercial agreement that included commitments to provide liquidity post-network launch.
Smokey the Bera emphasized that Nova remains one of Berachain’s largest token holders, possessing locked BERA tokens from the Series B round and liquid BERA tokens purchased on the open market, and continues to accumulate during market volatility.
MegaETH: Abandons $1 Billion Cap Plan, Will Add Function Allowing Users to Withdraw Funds
Per an official announcement, MegaETH stated: “We encountered unexpected issues throughout the process, so we are no longer proceeding with the $1 billion cap plan. The team will soon share a post-mortem review. Meanwhile, we will implement a feature allowing users to withdraw funds, enabling those who no longer wish to participate to do so.”
Earlier, after completing its $250 million pre-deposit event, MegaETH announced last night it would raise the cap to $1 billion.
Polymarket Receives CFTC Approval to Amend Designation Order, Enabling Brokerage Access for U.S. Users
According to PR Newswire, decentralized prediction market Polymarket has received approval from the U.S. Commodity Futures Trading Commission (CFTC) to amend its Order of Designation, allowing it to offer compliant market access to users within the United States via an intermediary model.
SanDisk to Join S&P 500 Index on Friday, Strategy Loses Bid
According to Morningstar, computer storage device manufacturer SanDisk Corp. will join the S&P 500 Index on Friday, beating out Strategy Inc. (MSTR) for the spot and replacing advertising and marketing firm Interpublic Group of Companies Inc.
Paxos Announces Acquisition of New York-Based Crypto Wallet Startup Fordefi for Over $100 Million
According to Fortune, crypto payment infrastructure firm Paxos announced the acquisition of New York-based crypto wallet startup Fordefi for over $100 million. Fordefi specializes in crypto wallet solutions designed for decentralized finance (DeFi) and currently has around 40 employees serving approximately 300 clients.
Paxos CEO Charles Cascarilla said the acquisition aims to meet growing client demand for DeFi access. Fordefi will continue operating independently for now, but Paxos plans to eventually integrate its technology into its own infrastructure.
This marks Paxos’ second acquisition in the past year, following its earlier purchase of Finnish stablecoin issuer Membrane Finance to comply with EU cryptocurrency regulations.
MetaPlanet Secures $130 Million Bitcoin-Collateralized Loan, Total Drawn Amount Reaches $230 Million
Japanese listed company MetaPlanet announced it has executed a new $130 million draw under its credit facility, secured by its holdings of Bitcoin. The facility has a maximum limit of $500 million, with a total drawn amount reaching $230 million. The company currently holds 30,823 BTC, sufficient to cover collateral requirements. The raised funds will be used to purchase additional Bitcoin, advance its Bitcoin revenue business, and repurchase shares when market conditions allow. The company expects this borrowing to have minimal impact on its fiscal 2025 performance.
Market Update
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