The Daily: Analysts say ‘Santa rally’ looks unlikely, Rushi Manche unveils new venture, Tom Lee calls ETH bottom, and more
Analysts doubt a 'Santa rally' after the Fed's cautious rate cut, Rushi Manche launches a $100M venture, and Tom Lee remains bullish on Ethereum.Summary
The daily crypto update highlights analyst pessimism regarding a 'Santa rally' following the Federal Reserve's 25-bps rate cut, which was accompanied by cautious guidance suggesting only one cut projected for 2026, dampening market momentum despite strong ETF inflows.
Rushi Manche, following his departure from Movement Labs, has resurfaced with Nyx Group, a new venture planning to deploy up to $100 million to support vetted token projects preparing for launches. Separately, Gemini secured CFTC approval to operate a Designated Contract Market, paving the way for its Gemini Titan prediction platform and potential expansion into crypto derivatives like futures and perps.
In other news, Coinbase selected Chainlink's CCIP protocol to expand its wrapped assets like cbBTC and cbXRP across new blockchains securely. Furthermore, Tom Lee's BitMine reportedly purchased another $112 million in ETH, with Lee asserting that Ethereum has already bottomed and forecasting a rally into early 2026.
(Source：The Block)