South Korea's Financial Services Commission plans to submit a government-sponsored stablecoin bill by the end of 2025, competing with five proposals already under National Assembly review. The Bank of Korea released a stablecoin whitepaper on October 27 and is seeking a role in licensing and monitoring. Jurisdictional tensions have emerged as both institutions pursue oversight authority over the emerging market.

Bitcoin rose above $105,000 on November 10 after President Trump announced a tariff-funded rebate initiative promising at least $2,000 to most Americans. Ethereum climbed 7% to $3,631, while Solana gained 6.08% to $167.36. Bitcoin spot ETFs recorded $252 million in net inflows on November 6, ending a six-day outflow streak, according to market data.

Bitcoin has mounted a recovery above the $103,500 support level after recent losses. The cryptocurrency climbed past $105,000 and tested resistance near $106,500, reaching a high of $106,593. BTC now trades above $104,000 and its 100-hour simple moving average, consolidating after breaking through a bearish trend line at $102,000.

Bitcoin has decoupled from global M2 liquidity trends since July, trading above $100,000 in November despite sitting 21% below its recent $126,000 peak. Analysts including Coinbase and BitMEX founder Arthur Hayes characterize the October 10 deleveraging event, which eliminated $20 billion in positions, as a healthy market reset rather than a cycle top. Options data show the market positioning for a $90,000 to $160,000 range over the next three to six months.

Bitcoin dropped below $100,000 on December 19, reaching an intraday low of $99,941 on OKX before recovering slightly. The cryptocurrency has declined more than 22% from its all-time high recorded earlier this month, entering correction territory. Betting platform Polymarket now assigns a 51% probability to BTC reaching $90,000 before year-end, up from 11% one month ago.

Rumble is advancing an all-share proposal to acquire German data center operator Northern Data at a valuation below Northern Data's approximately $894 million market capitalization, Bloomberg reported. The transaction, supported by mutual investor Tether Holdings, would enable Rumble to expand from video hosting into cloud infrastructure services. An announcement could come within days.

Caroline Pham, acting chair of the Commodity Futures Trading Commission, confirmed November 9 that the agency is negotiating with regulated exchanges to launch leveraged spot cryptocurrency trading. The initiative targets early December and would enable investors to trade digital assets with margin and financing on supervised platforms. Pham verified the development by responding to a social media report, marking a shift from current U.S. regulations that limit leveraged trading primarily to derivatives.

Hyperliquid has launched a borrowing and lending module on its Hypercore testnet, enabling users to borrow, supply, and withdraw assets directly onchain. The BorrowLendingProtocol (BLP) currently supports USDC and PURR during testing. The development follows Hyperliquid's October performance of $303 billion in trading volume, leading perpetual decentralized exchanges.