JH Kim

According to The Block, a cryptocurrency-focused media outlet, on the 26th (local time) cryptocurrency exchange Kraken launched a new deposit product, “DeFi Earn,” which uses decentralized finance (DeFi), in the United States, the European Economic Area (EEA) and Canada. The outlet said the product offers an annual percentage yield (APY) of up to around 8%. It is designed to allow centralized exchange users to access DeFi-based yield products without separate on-chain procedures. Kraken said, “Through DeFi Earn, we aim to provide users with an opportunity to generate DeFi yields more easily.” Withdrawals are generally processed immediately upon user request, but Kraken explained, “Unlike centralized systems, the nature of DeFi’s structure means that temporary withdrawal delays may occur if liquidity shortages arise.” The product launch is seen as part of a broader trend of centralized exchanges expanding deposit and yield offerings by leveraging DeFi infrastructure.

A survey has found that major banks in the UK are blocking or delaying about 40% of transfers headed to virtual asset (cryptocurrency) exchanges. According to Cointelegraph, a virtual asset-focused media outlet, the UK Cryptoasset Business Council (UKCBC) said so in a recently released report on the 26th (local time). The report was based on a survey of the top 10 centralized virtual asset exchanges in the UK. The survey found that eight of the 10 exchanges said instances of customers’ bank transfers being blocked or delayed had risen noticeably over the past 12 months. By contrast, none said the problem had eased. In the report, UKCBC said, "Broad-based regulation is acting as a key obstacle to the growth of the UK virtual asset industry," adding, "While the industry is working to address crypto-related fraud, banks are restricting crypto-related financial services on the grounds of regulatory compliance." It added, "As a result, users of virtual asset services are effectively being excluded from traditional financial services."

All three major U.S. stock indexes are trading higher. As of 00:04 on the 27th, the Nasdaq Composite was up 0.40% from the previous session at 23,596.09. The Dow Jones Industrial Average was up 0.36% at 49,273.21, while the S&P 500 was up 0.43% at 6,945.40.

On the 23rd (local time), the financial news account Walter Bloomberg reported that some global virtual asset (cryptocurrency) exchanges are showing signs of restarting and expanding trading in tokenized products that track US stocks. Major virtual asset exchanges worldwide are moving quickly to allow customers to trade crypto tokens that track US stock prices. This structure is drawing attention because it could create a "parallel market" outside the direct regulatory reach of US financial authorities. In particular, Binance is reportedly reviewing plans to relist stock tokens that it halted in 2021. At the time, Binance suspended trading in tokens tracking US stocks such as Tesla and Coinbase, citing regulatory pressure. Because these tokens are designed to track only price movements without directly holding the underlying shares, regulators are concerned they could be traded outside the US securities regulatory framework. The industry says such tokenized stocks could broaden global access to investing, while warning that debates could flare up again over investor protection and gaps in oversight.

Rick Rieder, BlackRock’s global chief investment officer (CIO) for fixed income, is rapidly emerging as a leading candidate to become the next chair of the US Federal Reserve (Fed). According to Walter Bloomberg, an economy breaking-news account, Rieder’s odds of being nominated as Fed chair on prediction market Kalshi have recently surged from 3% to 37%. With expectations that US President Donald Trump will announce a candidate for the next Fed chair soon, speculation is gaining traction that he will favor someone with a Wall Street background. Rieder oversees BlackRock’s global fixed-income business and is seen as a seasoned market veteran, having spent about 20 years at Lehman Brothers, among other roles. By contrast, Kevin Hassett—long cited as a top contender—has reportedly seen his position weakened amid concerns about undermining the Fed’s independence and issues surrounding a Justice Department probe related to current Chair Jerome Powell. BlackRock declined to comment on the matter, and the White House said it remains “still at the speculation stage.”

According to Walter Bloomberg, a breaking news account, on the 23rd (local time), a forecast said next week’s January meeting of the U.S. Federal Open Market Committee (FOMC) is likely to pass without major volatility. BofA Securities said it is "unlikely that this FOMC meeting will deliver a decision or signal that would surprise markets." The prevailing view is that the policy rate will be left unchanged at current levels. BofA also said Chair Jerome Powell’s press conference could focus more on political and external-environment issues than on shifts in monetary policy. Still, market participants are expected to watch for Powell’s assessment of the December decline in the unemployment rate and how resilient economic activity ties into judgments about the neutral rate. The report added that "this meeting is more likely to reaffirm the existing stance than to provide fresh clues about the policy direction."

A view has emerged that next week’s Federal Reserve meeting is likely to conclude without major changes. According to Walter Bloomberg, a breaking-news economics account, market participants expect the Fed to hold its benchmark rate at the current 3.5–3.75% range and see limited scope for a surprise at this meeting. The dot plot is also not scheduled to be released, which is interpreted as an effort by the Fed to preserve policy flexibility ahead of the March meeting. The key question is whether any Fed governors will dissent. Markets are watching for the possibility that Governor Christopher Waller or Governor Michelle Bowman could voice a minority view in favor of rate cuts. In Waller’s case in particular, some also speculate he could send a dovish signal amid President Donald Trump’s pressure for rate cuts. Overall, this Fed meeting is expected to have more of a “wait-and-see” character aimed at setting up the next steps rather than signaling a shift in policy direction.

The U.S. dollar is poised to log its biggest weekly decline in seven months. According to Walter Bloomberg, a breaking-news account, on the 23rd (local time), the dollar has remained on a weakening trend as volatility in U.S.-Europe relations increases. The WSJ Dollar Index fell about 0.8% this week, and the ICE Dollar Index slipped about 1%. Both marked their steepest weekly losses since June last year. In markets, uncertainty over U.S. President Donald Trump’s policy moves is being cited as a key factor behind the dollar’s weakness. In particular, analysts say his recent decision to withdraw threats of imposing tariffs on European countries has reduced policy predictability, weighing on the greenback. Meanwhile, some expect the dollar’s weakness could remain volatile depending on how trade and diplomatic issues between the U.S. and Europe develop.

On the 23rd (local time), the breaking-economy news account Walter Bloomberg, citing Russia’s state news agency TASS, reported that trilateral talks among Russia, Ukraine and the United States had begun in Abu Dhabi, United Arab Emirates (UAE).

According to Forbes on the 23rd (local time), the international spot price of silver hit $100 an ounce.

The three major U.S. stock indexes are trading higher. The Nasdaq Composite was up 0.91% from the previous session at 23,436.02 points as of 00:02 on the 24th. The Dow Jones Industrial Average was up 0.63% at 49,384.01, while the S&P 500 gained 0.55% to 6,913.35.

The three major U.S. stock indexes closed higher. The Nasdaq Composite Index rose 0.91% from the previous session on the 23rd to 23,436.02 points. The Dow Jones Index gained 0.63% to 49,384.01, and the S&P 500 Index added 0.54% to close at 6,912.92.

Changpeng Zhao (CZ), the founder of Binance, underscored the potential of long-term holding of crypto assets (cryptocurrencies). On the 22nd (local time), Zhao wrote on his official X (formerly Twitter) that "artificial intelligence (AI) could leave many people unemployed, but crypto assets could make having a job itself unnecessary." He added, "If you buy now and hold, you could retire within a few years," and said, "There are probably already people who have retired through crypto assets."

According to Walter Bloomberg, a breaking-news account, on the 22nd (local time), major Nordic pension funds are reassessing their allocation to U.S. assets. Swedish, Danish and Finnish pension funds have recently judged that the risk premium applied to U.S. equities, bonds and dollar assets has risen, and some institutions are reportedly selling U.S. Treasuries. The outlet said discussions are intensifying about diversifying investment regions away from U.S.-centric asset allocation, as rising geopolitical tensions and growing policy uncertainty in the U.S. have increased investment risks. Meanwhile, U.S. President Donald Trump has previously warned that he could take strong retaliatory measures if Europe sells U.S. Treasuries or other U.S. assets.

According to Walter Bloomberg, an economic news flash account, on the 22nd (local time), Rick Rieder, chief investment officer (CIO) at BlackRock, is drawing attention as a candidate for the next chair of the U.S. Federal Reserve (Fed). On prediction market Polymarket, the probability of Rieder becoming Fed chair is estimated at about 35%. That is the second-highest figure after Kevin Warsh, a former Fed governor. With U.S. President Donald Trump saying he could make a decision “within the next few weeks” regarding the Fed chair selection, financial markets are discussing a slate of potential candidates that includes not only current and former Fed officials but also figures from Wall Street.

U.S. President Donald Trump has filed a $5 billion damages lawsuit against JPMorgan Chase and CEO Jamie Dimon. He claims the bank closed his accounts and related accounts for political reasons. According to Walter Bloomberg, an economic breaking-news account, on the 22nd (local time), President Trump alleged in the complaint that JPMorgan violated its internal code of conduct and placed him and affiliated companies on a “blacklist,” causing financial and reputational harm. Trump’s side said the measures were part of so-called “political debanking,” in which access to financial services is restricted due to a particular political orientation. Trump’s side requested a jury trial in the case and cited grounds including trade libel, unfair trade practices, and breach of the duty of good faith and fair dealing. In response, JPMorgan and CEO Jamie Dimon countered that they have never closed accounts because of political views. The bank said the measures were taken in line with regulatory requirements and internal risk-management standards.

According to the breaking news account Walter Bloomberg on the 22nd (local time), European Union (EU) leaders have begun a broader review of overall ties with the United States following remarks by U.S. President Donald Trump regarding Greenland. Trump recently raised the possibility of acquiring Greenland, hinting at tariff measures and even military options, stoking concerns across Europe. He later walked back some of the comments, but within the EU there is growing assessment that Trump’s unpredictability is shaking confidence in the transatlantic alliance. EU leaders are expected to discuss how to frame medium- to long-term relations with the United States at a summit to be held this Thursday. The agenda is likely to include ways to reduce strategic dependence on the U.S., clarifying Greenland’s legal and political status, and preparing defensive and trade-response measures to guard against future tariff pressure or political friction. The EU is also said to be maintaining its line of preserving the transatlantic alliance itself while strengthening its capacity to respond to potential U.S. pressure going forward.

Sources said U.S. President Donald Trump and NATO Secretary General Mark Rutte have reached a verbal agreement regarding the Greenland issue, but a written agreement has yet to be drawn up. On the 22nd (local time), CNN, citing multiple sources, reported that the two sides agreed to discuss ways to review and update the 1951 military agreement among the United States, Denmark and Greenland. The talks are said to include blocking investment from Russia and China and expanding NATO’s role in Greenland. Some reports suggested that U.S. access to Greenland’s resources could be included on the agenda, but Rutte is said to have denied this. Sources said the agreement has not been formalized in an official document due to concerns about leaks, and as a result, NATO member states also have not been able to clearly grasp the specific scope of the deal.

An analysis suggests that ruble-pegged stablecoin A7A5 has surpassed $100 billion in cumulative trading volume in less than a year since launch and is being used as a means to circumvent economic sanctions. On the 22nd (local time), cryptocurrency-focused media outlet CoinDesk reported this, citing a report by blockchain analytics firm Elliptic. According to the report, A7A5 was issued on the Ethereum (ETH) and Tron (TRX) networks, and about 41,000 addresses have used the stablecoin to date. A7A5 serves as a bridge between the ruble and Tether (USDT), and has processed swap transactions totaling about $17.3 billion on a cumulative basis. Elliptic said, "A7A5 has functioned as a channel for ruble-based funds to move into the stablecoin ecosystem amid an international sanctions environment," adding that "use cases aimed at sanctions evasion are being identified" in the process. However, the report added that A7A5’s daily trading volume has recently fallen sharply as sanctions on related infrastructure have tightened since mid-last year. It also assessed that A7A5 is increasingly becoming isolated within the crypto ecosystem—which places a premium on decentralization—because it is designed so that only the issuer can block specific addresses.