SEC Chair Paul Atkins confirmed the agency will implement an innovation exemption framework for cryptocurrency companies in January 2026. The policy enables digital asset projects to issue tokens and launch products without completing full SEC registration procedures. A government shutdown from October into November delayed the original timeline for establishing the exemption before year-end, Atkins stated in a CNBC interview.

The cryptocurrency market added approximately $200 billion in capitalization over 24 hours, lifting total market cap to $3.08 trillion from $2.88 trillion. Bitcoin contributed roughly $120 billion to the rally, approaching $91,000 in its strongest daily performance since May 2025. Short position liquidations totaling $140 million in one hour accelerated the move, adding over $75 billion to Bitcoin's market value in 10 hours.

Bitcoin rose above $91,000 on December 2, 2024, posting its largest single-day percentage gain since May. The rally forced liquidations of more than $300 million in short positions within 24 hours, CoinGlass data show. The advance followed a drop below $84,000 the previous day.

Grayscale Investments has introduced GLNK, the first U.S. exchange-traded product tied to Chainlink, now trading on NYSE Arca. The fund provides spot exposure to LINK tokens through a regulated vehicle, with Coinbase serving as custodian. Grayscale is waiving management fees for three months or until assets reach $1 billion.

Solana-based memecoin trading declined to $13.9 billion in November 2024, the lowest monthly total since February 2024. Prediction platforms Polymarket and Kalshi combined for nearly $8 billion in volume during the same period, representing 57% of Solana's memecoin activity. The ratio marks a sharp increase from below 10% in August.

Kraken has entered into an agreement to acquire Backed Finance, the issuer of tokenized assets that powers its xStocks trading service. The acquisition strengthens Kraken's position in real-world asset tokenization as it prepares for a 2026 IPO. The xStocks platform has generated over $5 billion in cumulative trading volume since launch.

Early December trading revealed institutional anxiety centered on potential MSCI index changes rather than Bitcoin's price movement. Public companies holding significant BTC reserves face possible exclusion from global indexes due to balance sheet concentration. This structural uncertainty created more concern among professional asset managers than short-term price fluctuations.

The U.S. Securities and Exchange Commission is launching regulatory reforms to restore competitiveness in American capital markets, with blockchain firms serving as initial test cases. Chair Paul Atkins outlined a strategy prioritizing IPO pipeline expansion and introducing an "innovation exemption" framework that allows crypto companies to release products under supervision before completing full compliance reviews. The reforms are expected to commence within one month following delays caused by the government shutdown.