Markets remain under pressure — Bitcoin is down ~25% from October highs, volatility is elevated, and risk assets are resetting as December rate-cut hopes fade. Still, fiscal momentum, expanding stablecoin rails, and growing activity in tokenization, DATs, and prediction markets show continued underlying progress.

🟠Trump will sign a temporary funding bill today, formally ending the 43-day U.S. government shutdown; October NFP and CPI will be delayed, and the December 9–10 FOMC will rely on September and November jobs data plus September CPI, while November CPI lands during the meeting. [1]

🟠 Bitcoin’s performance versus equities is the weakest since 2022, Solana active addresses are at a 12-month low, and the DXY has slipped back below 99 for the first time since late October. [2]

🟠JPMorgan reiterates a key Bitcoin support zone around $94,000 while maintaining a $170,000 upside target. [3]

🟠Big Corporate Treasuries
- Strategy’s mNAV has fallen below 1, leaving its market capitalization trading at a discount to the value of its Bitcoin holdings. [4]
- Bitmine continued its accumulation program, adding 9,176 ETH (roughly $29M) in the latest leg of the selloff. [5]
- American Bitcoin Corp delivered a strong Q3 with revenue jumping to $64.2M from $11.6M last year. The company booked $3.47M in net income, added 3,000+ BTC to reach 4,090 BTC in reserves. [6]
- Leap Therapeutics rebranded to Cypherpunk and acquired 203,800 ZEC as a strategic reserve asset. [7]

🟠Prediction markets continued to move onshore: Polymarket became Yahoo Finance’s exclusive partner and relaunched a U.S. beta with UFC integration, while CME and FanDuel prepared a regulated U.S. prediction platform. [8]

🟠 Canary filed an S-1 with the SEC for a MOG ETF, pushing meme-asset exposure further into regulated product territory. [9]

🟠PayPal’s PYUSD supply has crossed $3B, representing roughly 1% of the global stablecoin market and strengthening its role in Web3 payments [10]

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