AVOIDING THE ISSUE? Even if XRP were a security, the investors suing Ripple brought their case far too late for it to proceed, the company said in a new court filing. In a bid to have the case dismissed, Ripple did not answer whether XRP is a security under U.S. law. Full story
LIQUIDITY INSIGHTS: Fragmented markets are a salient feature of the crypto asset class. No other asset class trades across so many small pools of liquidity. Bitcoin itself could be considered a thinly traded asset, and this market structure makes it difficult to agree upon a bitcoin price, according to an interview with Catherine Coley, CEO of Binance US and Sam Bankman-Fried, CEO of Alameda Research. Full story
FUTURES FUND: The New York Digital Investment Group (NYDIG) has secured approval from the U.S. SEC to offer institutional investors shares of a novel fund focused on bitcoin futures. The NYDIG Bitcoin Strategy Fund will invest in cash-settled bitcoin futures contracts traded on exchanges registered with the CFTC, but does not intend to invest in bitcoin directly. Full story
HEALTH HASHING: The first application on Kadena’s public blockchain, expected to launch in January, is a tracking platform for cannabis-derived CBD oil. The project is only the first step in Kadena’s plan to tap into the multibillion-dollar healthcare industry, Will Martino, the firm’s CEO, said. Full story
FRIENDLY DATA: Microsoft is pitching blockchain technology as a way to make artificial intelligence less scary for its corporate customers. The firm has a new tool called Azure Blockchain Data Manager that takes on-chain data and connects it to other databases where AI can be deployed to build trust and transparency. Full story
NO WINNERS: Bitcoin's bull-bear stalemate continues, with prices trapped between key levels of $7,087 and $7,870. A move above the latter level is needed to invalidate a lower-highs setup and revive the short-term bullish view. Recent lows near $6,500 will likely come into play if support at $7,087 is breached, reinforcing Wednesday's bearish hammer candle. Full story
DITCHING DOLLARS? Deutsche Bank issued a report claiming that state-back fiat currencies may struggle to survive under higher inflation, meaning that crypto could soar as investors dive into digital assets over the coming decade, reports CoinDesk’s Adam B. Levine and Brad Keoun in today’s Markets Daily. Full story
Ripple suit update