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Large-scale financing, RLUSD surpassing 1 billion, and a partnership with Mastercard—these three developments have created a positive feedback loop and may signal Ripple's transformation from the concept of a “blockchain-based SWIFT” to a revenue-driven global settlement infrastructure.
Stream Finance Implosion and Systemic Crisis
The market may have entered a mild bear market.
Bitcoin has fallen below the short-term holders’ cost basis ($112,500) to around $100,000, indicating weakened demand and the end of the bull market. The market is now in a mild bear phase, with long-term holders continuing to reduce their positions, institutional capital outflows, deleveraging in the derivatives market, and a defensive stance prevailing in the options market. Summary generated by Mars AI. This summary is produced by the Mars AI model and its accuracy and completeness are still being iteratively improved.
- 14:34Michael Saylor releases Bitcoin Tracker information again, possibly hinting at another BTC purchaseChainCatcher reported that Strategy founder Michael Saylor has once again released information related to the bitcoin Tracker. According to previous patterns, Strategy always discloses information about increasing its bitcoin holdings the day after such news is released.
- 13:14Metaplanet CEO: Bitcoin ETFs Will Not Weaken the Advantage of Bitcoin Treasury CompaniesJinse Finance reported that Simon Gerovich, CEO of the bitcoin treasury company Metaplanet, stated on the X platform that some people claim ETFs are a negative factor for Metaplanet, but this is not the case. Bitcoin ETFs rely on capital inflows to be supported; otherwise, the amount of BTC they hold will never increase. In contrast, bitcoin treasury companies like Metaplanet always hold a fixed amount of BTC, so ETFs are a "static exposure." The two play different roles, and ETFs do not weaken the advantages of bitcoin treasury companies.
- 12:28Japanese regulators plan to reclassify 105 cryptocurrencies including BTC and ETH as "financial products," with tax rates possibly reduced to 20%.Jinse Finance reported that the Financial Services Agency (FSA) of Japan plans to reclassify 105 crypto assets, including bitcoin and ethereum, as financial products and bring them under the supervision of the Financial Instruments and Exchange Act. Currently, Japanese residents are required to declare crypto earnings as "miscellaneous income," with a maximum tax rate of up to 55%. After the reclassification, trading profits from these 105 tokens will be taxed as capital gains, with a unified tax rate reduced to 20%, the same as stock trading. According to reports, this proposal is expected to be included in the budget plan at the beginning of 2026.