US Senator Loomis plans to release a draft of the crypto market structure bill this weekend

[Michael Saylor says major banks like BNY Mellon have started issuing Bitcoin-backed loans] MicroStrategy founder and executive chairman Michael Saylor stated that several major banks, including BNY Mellon, Wells Fargo, Bank of America, Charles Schwab, JPMorgan Chase, and Citigroup, have begun issuing loans backed by Bitcoin.

[Japan to Require Crypto Exchanges to Hold Liability Reserves or Purchase Insurance] Japan will require cryptocurrency exchanges to hold liability reserves or purchase insurance to ensure compensation for customers in the event of a hacking incident.

[South Korea's National Pension Service Increases MicroStrategy Holdings to $93 Million] South Korea's National Pension Service (NPS) has increased its holdings in Bitcoin treasury company MicroStrategy (MSTR) to $93 million.

[Matrixport: Bitcoin Implied Volatility Compresses, Year-End Rally Probability Declines] Matrixport released a market analysis stating that Bitcoin's implied volatility continues to compress, reducing the probability of a significant year-end rally. Today's FOMC meeting is the last major catalyst, and volatility may further decline during the holiday period after the meeting concludes. In the absence of directional momentum driven by new inflows from Bitcoin ETFs, the market may return to a range-bound pattern. Implied volatility is decreasing, and the market is lowering the likelihood of an upward movement by the end of December.

[A newly created wallet withdraws over 200,000 SOL from Binance] Onchain Lens monitoring data shows that a newly created wallet withdrew 200,001 SOL from Binance, valued at $27.87 million.