The partnership gives Sei direct mobile distribution across key crypto markets and includes plans to pilot stablecoin payments in 2026. Sei Labs, the core development group behind the Sei blockchain, has reached a distribution deal with Xiaomi to pre-install a new crypto wallet and discovery app on all Xiaomi smartphones sold outside mainland China and the United States. According to Thursday’s announcement, the app will let users sign in with their existing Google or Xiaomi IDs and will feature a multiparty computation wallet for security, access to popular crypto applications, and support for both peer-to-peer and merchant payments. The rollout will start in Europe, Latin America, Southeast Asia and Africa. Sei Labs is also creating a $5 million program aimed at funding mobile projects that bring blockchain features to consumer devices. Read more
Spot ETH ETF inflows resumed, while demand for taker volume improved. Will Ether’s futures markets follow the trend and kickstart a rally toward new all-time highs? Ether’s (ETH) price action cooled this week after a sharp rejection from the $3,650 to $3,350 supply zone, with the altcoin now hovering near $3,200. The rejection aligned with the 200-day exponential moving average (EMA), reinforcing overhead resistance just as spot exchange-traded funds (ETFs) flows began showing early signs of recovery. Key takeaways: Spot Ether ETF flows have risen from $16.8 billion to $21.5 billion since Nov. 21, a 28% increase. Read more
The tokenized commercial bond is one of the earliest transactions of its kind in the budding sector of onchain debt and credit instruments. Financial services company J.P. Morgan announced on Thursday that it arranged a $50 million onchain US commercial paper issuance for Galaxy Digital Holdings on the Solana blockchain, one of the earliest debt deals executed on a public network in the United States. The offering, a tokenized short-term corporate bond, was tokenized by J.P. Morgan. According to the company, it created the corresponding blockchain token for the bond and handled the settlement of the primary issuance. The tokenized securities were sold to asset manager Franklin Templeton and crypto exchange Coinbase, while issuance and redemption will be paid in Circle’s USDC (USDC) dollar-pegged stablecoin, according to the press release. Read more
Senators could vote on Michael Selig's nomination to head the CFTC, which, if successful, is expected to lead to the departure of acting Chair Caroline Pham. Update (Dec. 11 at 7:35 pm UTC): This article has been updated to include a Thursday policy announcement from Caroline Pham. The top Republican on the Senate Agriculture Committee said the full chamber could vote on US President Donald Trump’s pick to chair the Commodity Futures Trading Commission “maybe as soon as this afternoon.” In a prepared statement for a Thursday hearing on CFTC reauthorization, Committee Chair Glenn Thompson said the Senate could vote on Michael Selig’s nomination to chair the agency on Thursday. The potential vote would come just a few weeks after the Agriculture Committee advanced Selig’s nomination to the full chamber, along partisan lines. Read more
Bitcoin price breakouts continue to be rejected at $94,000, even as traders’ long-term view of US monetary policy and the crypto market turns bullish. Bitcoin’s (BTC) price action remained underwhelming this week after another failed attempt to reclaim the monthly volume-weighted average price (VWAP), with BTC consolidating near $90,000 following the Federal Reserve’s 0.25% interest rate cut. The market continued to reject any meaningful push above $93,000, thereby limiting bullish momentum. Key takeaways: One Bitcoin analyst said that liquidity contraction is suppressing Bitcoin’s upside, reducing demand relative to sell pressure. Read more
The Bank of Mexico's new stability report flags liquidity, contagion and regulatory-arbitrage risks as crypto adoption accelerates in Latin America. Mexico’s central bank warned in a new financial stability report that “stablecoins pose significant potential risks to financial stability,” citing their rapid growth, links to traditional finance and global regulatory gaps that could fuel arbitrage and magnify market stress. Stablecoins’ heavy reliance on short-term US Treasurys, market concentration with two issuers controlling 86% of the supply and past depegging episodes with stablecoins underscore how vulnerable the sector remains to stress, according to the Banxico report. Without coordinated international safeguards, mass redemptions or issuer failures could spill into broader funding markets, the central bank warned. Read more