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Phemex Crypto Market Daily: OCC Approves Five Crypto Firms as US National Trust Banks Amid Market Downturn (Dec 13)
Key Takeaways:
1. Macro Environment The US OCC's conditional approval of five crypto firms as national trust banks signals deeper regulatory integration. The Federal Reserve's recent rate cut to 3.5%-3.75% boosts liquidity and risk appetite for digital assets. Ongoing US Senate negotiations on a comprehensive crypto bill create short-term regulatory uncertainty. 2. Crypto Market The crypto market saw broad declines over the past 12 hours, with Bitcoin down 4.43% to $97,474 and Ethereum falling 9.27% to $3,144.86, pressured by weak ETF inflows and risk-off sentiment. Altcoins also dropped sharply; Arbitrum fell 11.73%, Solana 8.75%, and FET 12.59%. Merlin Chain outperformed with a milder 2.20% loss, supported by its mainnet launch and ZK-Rollup integration. 3. Today's Outlook Today's key events include the OCC's conditional approval of Ripple, Circle, Paxos, BitGo, and Fidelity as crypto banks, marking a major regulatory milestone. DeAgentAI mainnet launches, expanding decentralized AI agent networks. Hex Trust launches wXRP, enabling XRP cross-chain operations.
