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Through a written testimony to be delivered before the House Financial Services Committee on Dec. 2, Hill stated that the FDIC has begun work to promulgate rules to implement the GENIUS Act, and a formal proposal is expected later this month. “We expect to issue a proposed rule to establish our application framework later this month,” he said, “and a proposed rule to implement the GENIUS Act’s prudential requirements for FDIC-supervised payment stablecoin issuers early next year.” Sounds like a recipe for chaos, but hey, who’s counting? 🤯

This jolly good show follows their 2024 raise with the eggheads at YZi Labs, and comes at a time when tokenized versions of short-dated government debt have become the bee’s knees in the crypto world, growing faster than a schoolboy’s appetite at tea time. So they say in their Tuesday news release, anyhow. 📈📰

Trades in MYX Finance are performing a poised waltz around $2.40, reminiscent of a tightrope walker’s balancing act between a support band of $2.20 and $2.30. This level has been a faithful partner-appearing consistently at MYX’s side, much like a scrupulous chaperone. A decisive uplift here could whisk our token into favorable chatter; albeit, with the momentum as mixed and unenthusiastic as a wallflower, and volumes meager like autumn’s fleeting rain, traders remain wary.

Guess what else? Prediction markets are the new Broadway shows over here in the U.S., and Kalshi’s jumping on the bandwagon by launching on-chain versions of its contracts to woo the crypto community. A company insider, interviewed by CNBC on Dec. 1 (mind you, that’s next week for someone not living in a TV), spilled the beans.

According to Ali Martinez, a man who clearly has more time than sense, the TD Sequential-because nothing says “trust me” like a cryptic acronym-has spotted a “setup” on XRP’s weekly chart. It’s like finding a $20 bill in a couch cushion, but instead of money, it’s a “reversal signal.” How romantic.

At this late hour of the twentieth century, Jerome Powell, in a tone reminiscent of a Russian patriarch taming the familial chaos, proclaims the U.S. economy in a robust state – a strength seldom witnessed. Growth not succumbing to the grim specter of mere 2%, and unemployment at a mere 4.1% – a small percentage yet a world of meaning to the common man. Respite from recession looms like a distant hope. Stability reigns, offering clarity to the markets after two interminable years that tested the bulwarks of both rationality and sanity. For cryptocurrencies, those modern Sisyphus of financial fables, a tranquil macro environment finally seems a mortal certainty, casting off the perennial shadow of uncertainty and nurturing not mere confidence, but a blossoming conviction in a merrier future. 🤔🔄✨

Behold, the Ether wallet, cradling 40,000 tokens, which its owner once purchased for a pittance of $12,000 during Ethereum’s genesis block launch in July 2015. Now, it gleams with the sheen of $120 million-a testament to the volatile whims of the crypto gods. 🧠