Daily Market Wrap | Dec. 01

Hot Topics

• Bitcoin's 5% drop to $86K liquidated $500M during early Asia trading.
• Japan plans to slash crypto gains tax to flat 20% from up to 55% starting 2026, boosting local traders.
• Sony Bank plans USD-pegged stablecoin launch in US by 2026 with Bastion for games and anime.

Market Updates

• Visa partners with Aquanow to expand USDC stablecoin settlements across Central and Eastern Europe, the Middle East, and Africa (CEMEA).
• BlackRock's Bitcoin ETFs, spearheaded by IBIT, have become the firm's top revenue source with an estimated $245M annual fees.