Digital assets manager CoinShares says institutional investors have now allocated nearly $40 billion to crypto products this year. In its latest Digital Asset Fund Flows report, CoinShares says that institutional crypto investment products saw a surge in net inflows that brought yearly flows to $37.3 billion last week, a new record. “Digital asset investment products […] The post Ethereum Sees... source: https://dailyhodl.com/2024/12/02/ethereum-sees-dramatic-shift-in-institutional-sentiment-amid-new-yearly-record-in-product-inflows-coinshares/

South Korea’s Democratic Party agreed to delay the implementation of crypto taxation laws, signaling a temporary truce in the heated debate over digital asset regulation in the country, the Korean Herald reported on Dec. 2. Democratic Party floor leader Rep. Park Chan-dae announced the agreement to postpone the taxation of crypto profits by two years. Park […] The post South Korean politicians... source: https://cryptoslate.com/south-korean-politicians-agree-to-implement-2-year-moratorium-on-crypto-taxation/

While AI offers significant opportunities, its risks for younger, impressionable users should be addressed, particularly among men. source: https://decrypt.co/294430/ai-companions-fuel-radicalization-among-lonely-young-men-google-ceo

Onboarding to crypto just got easier. Apps using Coinbase’s Onramp payments feature can now onramp from fiat-to-crypto using their Apple Pay Wallets. source: https://decrypt.co/294417/coinbase-apple-pay-onramp-bitcoin-dogecoin

According to Odaily, New York Federal Reserve President John Williams indicated on Monday that the Federal Reserve might further lower its interest rate targets as inflationary pressures continue to ease. Speaking at a meeting of the Queens Chamber of Commerce in New York, Williams emphasized that monetary policy remains in a restrictive range to support the sustainable return of inflation to the 2% target. Looking ahead, Williams stated, "I expect that over time, it will be appropriate to continue moving towards a more neutral policy setting." He highlighted that the policy path will be data-dependent, reflecting the lessons learned over the past five years about the persistent uncertainty of economic forecasts. However, Williams did not provide specific guidance on the timing of potential rate cuts or whether he anticipates the Federal Reserve will lower its rate targets at this month's Federal Open Market Committee (FOMC) meeting.

According to Odaily, recent on-chain data reveals that approximately one hour ago, Tether Treasury minted an additional 1 billion USDT on the Ethereum blockchain. This development marks a significant increase in the supply of the stablecoin, which is widely used in cryptocurrency trading and transactions. The minting of such a large amount of USDT could have various implications for the cryptocurrency market. Tether, known for its role in providing liquidity and stability, often sees increased issuance during periods of heightened trading activity or demand for stablecoins. The Ethereum blockchain, being one of the most popular platforms for decentralized finance (DeFi) and other blockchain applications, continues to be a preferred choice for Tether's operations. This latest minting event underscores the ongoing demand for USDT in the digital asset ecosystem. As traders and investors seek stable assets amidst market volatility, Tether's role as a stablecoin becomes increasingly crucial. The issuance of USDT on Ethereum also highlights the blockchain's capacity to handle large-scale transactions efficiently, further solidifying its position in the cryptocurrency landscape.

According to CME's "Fed Watch", the probability that the Fed will maintain the current interest rate unchanged by December is 25.5%, and the probability of a cumulative interest rate cut of 25 basis points is 74.5%. The probability of maintaining the current interest rate unchanged by January next year is 20.6%, the probability of a cumulative interest rate cut of 25 basis points is 65.1%, and the probability of a cumulative interest rate cut of 50 basis points is 14.3%.

On-chain data showed that about an hour ago, Tether Treasury minted 1 billion new USDT on the Ethereum blockchain.

Vivek Ramaswamy, another head of the Department of Government Efficiency (DOGE) appointed by Trump, posted that most government projects should have clear deadlines. That's why we set one for the Department of Government Efficiency: July 4, 2026. Musk forwarded the post saying that the last step of the Department of Government Efficiency is to lay off itself. Earlier, Trump said at Mar-a-Lago in Florida that the "Department of Government Efficiency" will release its last report on July 4, 2026. In the view of Newsweek, although the "Department of Government Efficiency" led by Musk has taken the lead at the moment, its biggest role is to serve the US mid-term elections and give a "big gift package" to the 250th anniversary of the founding of the United States in 2026.

According to Odaily, Grayscale has announced on the X platform that its Grayscale XRP Trust is now accessible to qualified investors interested in investing in XRP. This fund supports the distributed XRP ledger, which is utilized for cross-border payments. The opening of the Grayscale XRP Trust marks a significant development for investors seeking exposure to XRP, a digital asset known for its role in facilitating international transactions. By providing a structured investment vehicle, Grayscale aims to offer a secure and regulated means for investors to engage with the XRP market. This move aligns with the growing interest in digital currencies and blockchain technology, particularly in the realm of cross-border financial transactions. Grayscale's initiative reflects the increasing demand for diversified investment options within the cryptocurrency sector. As digital assets continue to gain traction, investment trusts like the Grayscale XRP Trust provide a pathway for institutional and accredited investors to participate in the evolving digital economy. The trust's focus on the XRP ledger underscores its potential in enhancing the efficiency and speed of cross-border payments, a critical aspect of global financial systems.

The security token offering is made accessible with either fiat (U.S. Dollar (USD)) or stablecoins (USD Coin (USDC)), and it requires a minimum investment of 1 USD/USDC, which is relatively affordable.