Texas Lieutenant Governor buys Bitcoin; SpaceX announces IPO goal by the end of 2026.

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▌Texas Lieutenant Governor Announces Official Purchase of Bitcoin, Says He Will Make Texas the Center of America's Digital Future

Texas Lieutenant Governor Dan Patrick stated, "Texas is the first state in history to purchase Bitcoin. I support President Trump and hope to make Texas the center of America's digital future."

▌SpaceX Tells Investors Its Goal is to Conduct an IPO by the End of 2026

According to The Information: SpaceX has told investors that its goal is to conduct an IPO by the end of 2026.

**Market Updates** As of press time, according to CoinGecko data: BTC price is $92,303.51, a 24-hour change of -1.3%; ETH price is $3,139.76, a 24-hour change of -1.3%; BNB price is $902.33, a 24-hour change of -1.7%; SOL price is $139.09, a 24-hour change of... RGB(255, 0, 0);">-3.9%

DOGE price is $0.1477, 24-hour change -2.9%;

XRP price is $2.10, 24-hour change -4.6%;

TRX price is $0.2858, 24-hour change +1.9%;

WLFI price is $0.1533, 24-hour change -3.9%;

DOGE price is $0.147 ...WLFI price is $0.1533, 24-hour change -3.9 HYPE price is $33.58, a 24-hour change of -3.5%. Policy ▌US Judge Orders Release of Epstein Grand Jury Investigative Records On December 5th local time, US District Judge Rodney Smith ordered the release of the federal grand jury investigation documents in the Epstein case. It is understood that the federal grand jury's investigation records regarding Epstein from 2005 to 2007 will be made public. (Jinshi)

▌US Judge Orders Release of Epstein Grand Jury Investigation Records

According to CCTV News, on December 5th local time, US District Judge Rodney Smith ordered the release of the federal grand jury investigation documents in the Epstein case. It is understood that the federal grand jury's investigation records regarding Epstein from 2005 to 2007 will be released. On November 18th, the US House of Representatives and Senate passed a bill requiring the Department of Justice to release documents related to the Epstein case. On November 19th, US President Trump signed the bill, approving the release of the Epstein case files. The US Department of Justice submitted the request to release the relevant documents after the bill was passed.

▌US Prosecutors Recover Nearly $1.7 Million in Cryptocurrency Investment Scam Funds Through Civil Asset Forfeiture Proceedings

According to the US Department of Justice website, the US Attorney's Office for the Eastern District of Virginia has successfully recovered 420,740 USDT and 1,249,996 BUSD, totaling nearly $1.7 million, through civil asset forfeiture proceedings. These funds originated from cryptocurrency investment scam proceeds and money laundering activities and are currently being returned to the victims. According to court documents, scammers contacted victims via text message and social media, posing as accidental contacts to lure them to an encrypted chat application. The scammers then gained the victims' trust and encouraged them to "invest" in cryptocurrency on a fake investment website. This website mimicked legitimate cryptocurrency investment platforms but actually transferred the victims' funds to the scammers. Blockchain Applications ▌Yield Basis Activates Fee Switch On December 6th, Yield Basis, a protocol developed by Curve Finance founder Michael Egorov, activated its fee switch on Thursday, becoming the latest crypto protocol to direct revenue to token holders. Some Yield Basis users have four weeks to claim more than 17 bitcoins accumulated since the protocol's launch in September. These bitcoins were worth nearly $1.6 million on Friday. The proposal to activate the fee switch was unanimously approved by Yield Basis token holders on Wednesday. **Solana's Largest Treasury Company, FWDind, Launches Self-Developed AMM Platform "BisonFi"** According to SolanaFloor, Forward Industries (FWDind), the digital asset treasury holding the largest amount of $SOL in Solana, has officially launched its self-developed AMM platform, "BisonFi." This news has been confirmed by Kyle Samani, Managing Partner of Multicoin Capital. **Texas Small Bank Monet Enters Crypto-Specialized Banking Sector** Monet Bank is a small community bank in Texas owned by a billionaire political supporter of former US President Donald Trump. The bank has officially entered the cryptocurrency lending business, positioning itself as an "infrastructure bank" focused on digital assets. Its official website states: "Monet is committed to becoming a leading digital asset financial institution, providing innovative and forward-thinking solutions for the digital economy." According to Texas official records, the bank has assets of less than $6 billion and capital of slightly over $1 billion, making it a typical small community bank. This Texas bank was founded in 1988, initially named Beal Savings Bank; it changed its name to XD Bank in early 2024, and then changed it again to Monet Bank two months later. According to federal data, the bank holds a state charter and is regulated by the Federal Deposit Insurance Corporation (FDIC), and currently has six branches. Blockchain bank N3XT raises $72 million in three funding rounds. The bank was founded by Scott Shay, founder and former chairman of Signature Bank, and Jeffrey Wallis, former head of digital asset and Web3 strategy at Signature Bank, will serve as N3XT's CEO. Prediction market Polymarket is embroiled in controversy over a $59 million bet, with disputes arising over the platform's definition of "going live". Traders have placed large bets on whether the platform will launch a US version by the end of 2025. In November, Polymarket opened its regulated US platform to a small group of test users, but whether this "soft launch" met the criteria for a "formal launch" sparked controversy. This week, UMA token holders voted "yes" via blockchain, but many users protested, arguing that the ruling prioritized interpretation over facts. The related bonuses have not yet been distributed, and this incident exposes the predicament of prediction markets in the face of their own uncertainty. A dormant address containing 1,000 BTC (worth approximately $89,259,331 USD) was activated just 13.1 years later (it was worth $11,551 USD in 2012). Exodus CEO Predicts Bitcoin Will Reach $200,000 in 2026 In an interview with CNBC, the CEO of Exodus, a US-listed company, predicted that the price of Bitcoin will reach $200,000 in 2026. Circle Has Issued 10 Billion USDC in the Past Month According to lookonchain monitoring, Circle issued another 500 million USDC one hour ago, bringing its total issuance to 10 billion USDC in the past month. Important Economic Updates ▌Spot Gold Falls 0.30%, Down 1% This Week On Friday (December 5th) in late New York trading, spot gold fell 0.30% to $4194.86 per ounce, a cumulative decline of 1.03% this week. ▌Federal Reserve: US Bank Deposits Reached $18.526 Trillion Last Week The Federal Reserve reported that US bank deposits totaled $18.526 trillion last week, compared to $18.428 trillion the previous week.

▌US stocks closed slightly higher, with most major tech stocks rising

The three major US stock indexes all closed slightly higher, with the Dow Jones Industrial Average up 0.22%, the Nasdaq Composite up 0.31%, and the S&P 500 up 0.19%. Most major tech stocks rose, with Broadcom up over 2%, Google and Meta up over 1%, and Apple and Nvidia down less than 1%. Cryptocurrency stocks led the declines, with Strive down over 7% and Circle down over 2%.

▌Economists predict the Federal Reserve will cut interest rates in December, with two more rate cuts possible in 2026

According to economists surveyed, Federal Reserve officials will vote next week to cut interest rates again to prevent a rising risk of a sharp deterioration in the labor market.

The median survey of respondents indicates that they expect the Federal Reserve to implement two more 25-basis-point rate cuts this year, starting in March 2026. Next week's rate cut would continue the momentum of the rate cuts announced at the September and October policy meetings. A significant number also expect Fed officials to reiterate the statement that "downside risks to employment have increased in recent months," as they did in October. The Fed will announce its decision at 2 p.m. Washington time on December 10, followed by a press conference by Chairman Jerome Powell. The Atlanta Fed's GDPNow model projects US third-quarter GDP growth at 3.5%, up from its previous forecast of 3.8%.

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▌How Euro Stablecoins Address EU Concerns about the Dollar

Officials from central banks across the EU have pointed out that dollar-backed stablecoins could pose a threat to their monetary policy-making capabilities. The stablecoin market has experienced explosive growth over the past year, largely thanks to the legal certainty provided by the US. The total market capitalization of stablecoins has hit record highs every month, but European Central Bank policymakers are concerned that increased adoption of these dollar assets during crises could trigger a series of problems. Issuers of euro- and pound-sterling-backed stablecoins also acknowledge these risks, but they believe that proposed solutions such as a digital euro cannot quickly provide viable alternatives, and question whether central bank digital currencies (CBDCs) are the right choice. Instead, issuers believe that the key to solving the problem of Eurodollarization lies in building a thriving European stablecoin ecosystem.

Monetary policymakers are already pushing forward with digital currency projects in the Eurozone.

According to the European Central Bank, the project aims to reduce the Eurozone's reliance on non-European providers, help consolidate the fragmented payments sector, and support innovation and competition. Significant uncertainties remain: it is unclear whether the digital euro will operate on blockchain or other proprietary systems; the proposed holding limits will offset many of the inherent advantages of private stablecoins, such as scalability and decentralized access. Whether it's a private stablecoin or a digital euro closely overseen by the ECB, the sovereignty of European monetary policy depends on the development of digital currencies.