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The European Securities and Markets Authority (ESMA) has issued an opinion requiring EU crypto firms to stop providing services involving stablecoins that do not comply with the Markets in Crypto-Assets Regulation (MiCA) framework, and has given a three-month deadline to address existing risk exposures. ESMA stated on Thursday that national regulators should require relevant firms to promptly address any remaining exposure to non-compliant stablecoins, no later than January 8, 2027.The guidance applies to crypto services regulated under MiCA, including trading platforms, exchange services, order execution, custody, transfers, investment advice, and portfolio management. ESMA stated that crypto firms should implement technical, contractual, and organizational controls to prevent EU customers from obtaining or increasing exposure to unauthorized stablecoins.Regulators may allow limited services to assist customers in exiting existing positions, including liquidation, exchange, withdrawal, transfer, and custody, but such activities must be temporary and closely monitored. This update expands on the guidance issued by ESMA in January 2025, when it required restrictions on trading and exchange services involving non-compliant stablecoins.

On Thursday during the European trading session, Dow Jones index futures fell by 0.56%, S&P 500 index futures fell by 0.28%, and Nasdaq 100 index futures fell by 0.44%.U.S. Treasury yields rose to multi-year highs, and high oil prices intensified inflation concerns. U.S.-Iran relations are tense, and the Strait of Hormuz is facing threats. The market is focused on speeches from Federal Reserve officials and a new batch of quarterly earnings reports.

Analyst Darkfost stated that the recent demand for Bitcoin in the market has significantly improved, especially as spot demand continues to rise. Currently, the total demand for Bitcoin has returned to positive territory, exceeding 14,000 BTC, while futures demand remains relatively stable, averaging about 32,000 BTC recently.Spot demand is currently around negative 17,000 BTC. Although it is still in negative territory, it has improved significantly from negative 207,000 BTC on September 20. Darkfost believes that while the current Bitcoin price is declining, market demand is gradually recovering, which is a positive market signal.

According to Lookonchain monitoring, a certain whale holds 98,089 ETH long positions worth 252.3 million dollars, with liquidation prices of 2446.48 dollars and 2424.47 dollars.

According to The Block, Standard Chartered Bank's Singapore branch plans to provide custody services for specific crypto assets, stablecoins, and tokenized real-world assets to institutional investors.The bank stated that this service will expand its existing crypto asset custody business, which currently covers the UAE, Luxembourg, and Hong Kong.

According to the market information platform Liquid247.xyz, Coinbase's spot BTC has approximately 71.7 buy orders at the price level of $82,928, nominally about $5.9463 million, which is a pullback of about 0.41% from the mid-price of approximately $83,273 at that time. The total buy orders at the near-end market are about $22.6663 million, while the sell orders are about $20.8999 million.This buy order is the most prominent support at the near-end of Coinbase's spot market, with a net buy of approximately $1.7664 million, accounting for 4.05% of the total depth.

According to Gate market data, the stock price of the American semiconductor company Wolfspeed rose 27% after hours, following the announcement of a $1.5 billion loan commitment.

U.S. President Trump stated that the entire nation of Iran will be completely destroyed, and this matter will come to an end soon, at which point oil prices will plummet.

The Federal Reserve meeting minutes show that some officials stated that raising interest rates would prevent the spread of price increases in certain industries.

Microsoft executives stated that the RTX Spark devices equipped with NVIDIA chips will start shipping next week.

Microsoft executives stated that the RTX Spark device equipped with NVIDIA chips is faster than Apple's fastest chips in generating images.

Chairman of the U.S. House Financial Services Committee French Hill stated that the actions taken by regulators to advance digital asset regulation lack the long-term stability provided by congressional legislation. He hopes that Congress will pass the CLARITY Act during the lame-duck session before the new Congress takes office in 2027.The U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) have previously proposed relevant rule-making plans. French Hill indicated that the regulatory actions of the two agencies following the Senate's failure to pass the CLARITY Act last month are still insufficient to replace legislative proposals. SEC Chairman Paul Atkins and CFTC Chairman Michael Selig have announced that they will advance cryptocurrency regulation as directed by U.S. President Donald Trump. As of Wednesday, there are a total of 7 vacancies in the leadership of the two agencies; among them, Hester Peirce announced her resignation as SEC Commissioner last week, and the CFTC is currently only chaired and staffed by Selig.

According to Gate market data, U.S. stocks opened with the Dow Jones down 0.62%, the S&P 500 index down 0.45%, and the Nasdaq down 0.61%. The storage sector saw widespread declines, with Micron Technology, Seagate Technology, Western Digital, SanDisk, and SK Hynix all down about 2.5%.

U.S. Treasury bonds resumed their decline on Wednesday, with the 30-year Treasury yield rising to its highest level since 2002, reaching 5.72%. The increase in oil prices has raised market concerns about inflation and interest rate hikes by the Federal Reserve.The yield on the UK 30-year government bond rose to 6%, while the yield on the French government bond of the same duration increased by 14 basis points. Mizuho International strategists stated that the market is affected by the rise in oil prices.

During a conversation with Cointelegraph's multimedia director Ciaran Lyons at the Token2049 conference in Singapore, Kevin Lee, Chief Strategy Officer of the cryptocurrency exchange BingX, stated that wealthy "old money" investors have a longer holding period for Bitcoin compared to many crypto-native traders. He mentioned that he has encountered a large number of "old money" clients seeking alternative investments, saying, "Their diamond hands are stronger than any of ours." Lee pointed out that Bitcoin has grown large enough that wealthy investors are increasingly viewing it as a tool for diversifying their portfolios rather than expecting it to "increase tenfold in two weeks."Lee sees wealthy investors as an underdeveloped source of crypto capital, believing that their buy-and-hold strategy could make Bitcoin a diversification tool for more investors. He cited examples where investors allocate 5% to gold and another 5% to Bitcoin, rather than chasing short-term quick returns. A survey released by CoinShares on Monday, targeting 2,230 investors with investable assets of at least $500,000, showed that long-term appreciation and diversification are the primary reasons for investing in crypto assets, while short-term speculation ranked last. Among the surveyed digital asset investors, 80% hold Bitcoin.However, crypto assets are still far from becoming a standard allocation for wealthy families. A survey conducted by JPMorgan in February, based on 333 single-family offices across 30 countries, revealed that 89% of family offices have no exposure to crypto assets, with an average allocation to crypto and digital assets of only 0.4%. Only 17% of respondents consider crypto and digital assets as key investment themes.

According to Gate market data, major European stock indices fell, with the German DAX index down 1% during the day, the Euro Stoxx 50 index and the Italian FTSE MIB index down over 1%, the UK FTSE 100 index down 0.35%, and the French CAC 40 index down 0.74%.

U.S. federal prosecutors cited the appellate ruling related to the cryptocurrency mixer Bitcoin Fog as a supplementary basis against the not guilty motion of Tornado Cash developer Roman Storm. In documents submitted on Monday, the prosecution referenced the September 25 ruling by the appellate court that upheld the conviction and sentencing of Bitcoin Fog operator Roman Sterlingov. The District of Columbia Circuit Court found that Washington, D.C. had jurisdiction over all four charges: the money laundering charge was based on undercover agents completing Bitcoin Fog transactions in its D.C. office, while the unlicensed money transmission charge was supported by sufficient evidence showing that Bitcoin Fog had served clients in the area.The prosecution stated that the ruling "directly supports" its position in the Storm case, arguing that Tornado Cash's activities in Manhattan were sufficient to establish jurisdiction in the Southern District of New York for the conspiracy charges of money laundering and unlicensed money transmission against Storm, citing the testimony of Shakeeb Ahmed, who claimed to have used Tornado Cash in a Manhattan apartment. Judge Katherine Polk Failla has heard the arguments for the not guilty motion in April 2026 but has yet to rule. In August 2025, the jury found Storm guilty of conspiracy to operate an unlicensed money transmission business, but deadlocked on the charges of money laundering and conspiracy to evade sanctions; Storm submitted a post-trial not guilty motion in September 2025, arguing that the prosecution failed to prove he intended to assist criminals in abusing Tornado Cash.