BizwavemediaPersonal Finance and Crypto Updates

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Shares of Gemini Space Station (GEMI) jumped around 15% in premarket trading today after the company received approval from the Commodity Futures Trading Commission to operate a derivatives exchange.

According to Bloomberg, Gemini, founded by the Winklevoss twins, plans to offer US customers the ability to trade event contracts across economic, financial, political, and sports forecasts.

The company is also exploring the expansion of its derivatives offerings to include crypto futures, options, and perpetual contracts.

Gemini began trading on Nasdaq in September with shares opening around $37, but it has since slid 69% during a broader pullback in crypto-focused equities, Yahoo Finance data shows.

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An early Bitcoin investor nicknamed “1011short” has expanded an Ethereum long position to 120,094 ETH, valued at $392.5 million, on Hyperliquid, according to data tracked by Lookonchain.

The position faces liquidation at $2,234 per ETH. The trader has been actively trading Ethereum in recent months and recently bet on renewed upward momentum.

Ethereum was trading at around $3,260 at press time, down from its daily high of $3,400, per CoinGecko. The decline extended following the Fed’s decision to lower interest rates by 25 basis points.

Analysts suggest, however, that the pullback may reflect a sell-the-news reaction, given that markets had widely anticipated the rate cut.

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Fundstrat’s Tom Lee said that Bitcoin and Ethereum have historically entered strong growth periods when the ISM rises above 50.

“So the ISM moving back above 50 has historically been associated with actually super cycle moves in Bitcoin and Ethereum,” Lee said in a Wednesday interview with CNBC’s “The Exchange.”

The ISM manufacturing index tracks key US economic trends through the Manufacturing and Services Indexes. Purchasing managers report on new orders, production, employment, supplier deliveries, and inventories, which are aggregated into a diffusion index.

Readings above 50 indicate growth in economic activity, while readings below 50 signal contraction. The latest ISM Manufacturing PMI reading is 48.2 for November 2025.

Asked about the ISM index’s link to Bitcoin, Lee explained that the correlation is strong after factoring in Bitcoin’s long-term trend.

“If you look at ISM and Bitcoin and you detrend Bitcoin, essentially look at its distance from the 208, it’s almost perfectly correlated to the ISM,” he said.

On Bitcoin’s cycle, the chairman of BitMine countered expectations that the market would follow its typical four-year pattern.

Lee appeared to agree with ARK Invest’s Cathie Wood, who believes the Bitcoin four-year cycle is going to be disrupted.

He expects new highs for crypto assets as early as January.

“I think Bitcoin is a bit of a chameleon because there’ll probably be a time when it acts like gold,” Lee said. “But right now it acts a lot more like it’s sensitive to monetary policy and the business cycle. And both are about to turn up.”

“That would mean anybody who thinks the Bitcoin four-year cycle means crypto prices are down next year. We’re betting against that thinking that new highs [will] come early like January,” he added.

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Meteora, a Solana-based decentralized finance protocol, announced it spent $10 million USDC in Q4 2025 on $MET buybacks. The purchases were made from a single wallet, accumulating 2.3% of the token’s total supply since launch.

The protocol stated it will continue discretionary buybacks from the same wallet address from now on, while focusing on revenue growth, cost optimization, and transparent reporting.

As part of a broader effort to tie the $MET token to product utility, Meteora also introduced Comet Points. This new consumable point system rewards users for staking $MET and interacting with the platform. Comet Points will be redeemable for benefits such as airdrops, presale access, an off-chain rewards store, and LP coaching services.

The team said the new system is designed to evolve with community input, unlocking additional utility and engagement opportunities for the Meteora ecosystem.

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Large holders are stepping up on-chain activity as the Fed’s interest-rate announcement approaches.

According to Lookonchain, an early Ethereum ICO wallet holding 850 ETH, worth approximately $2.8 million, sent 1 ETH to Coinbase after ten years of dormancy.

The wallet acquired its original stash for just $263, meaning the investment has appreciated more than 10,000% with ETH now trading above $3,300.

An Ethereum ICO wallet (0x782F) with 850 $ETH($2.82M) just transferred 1 $ETH to #Coinbase after 10+ years of dormancy.

He invested only $263.5 in the ICO and received 850 $ETH — now worth $2.82M, a 10,684x return!https://t.co/ZMRSgtcj1R pic.twitter.com/OR24zkIpol

— Lookonchain (@lookonchain) December 10, 2025

Another whale also flipped from spot selling to massive leveraged ETH longs after unloading 1,654 ETH for over $5 million, on-chain data shows.

Bitcoin whales are also on the move. MARA Holdings, the world’s second-largest corporate Bitcoin holder, transferred about 275 BTC worth $25 million, with 175 BTC hitting FalconX, according to Arkham Intelligence.

Earlier today, Elon Musk’s SpaceX moved $95 million in Bitcoin to unknown addresses, though analysts believe the transfers were likely for custody purposes.

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$1.2 billion in leveraged short positions are at risk of liquidation if Bitcoin rallies to $95,076, according to Coinglass’ liquidation map.

The potential liquidations highlight the amount of bearish bets currently placed against the largest digital asset by market capitalization. Short positions involve traders borrowing Bitcoin to sell it, betting that the price will decline so they can buy it back at a lower price and profit from the difference.

Liquidations occur when traders’ positions are automatically closed by exchanges due to insufficient collateral to maintain their leveraged bets. A move to $95,076 would trigger forced buying as these short positions are closed, potentially accelerating upward price momentum.

Bitcoin sits at $91,895 at press time, pulling back from its move above $94,000 ahead of the FOMC decision, per CoinGecko.

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Spot Bitcoin exchange-traded funds recorded around $152 million in net inflows yesterday, with Fidelity’s FBTC leading the group at $199 million.

Other funds managed by Grayscale, Bitwise, ARK Invest, Invesco, Franklin Templeton, and WisdomTree also saw positive flows on Tuesday, whereas BlackRock’s IBIT faced $135 million in net outflows.

Elsewhere, spot Ethereum ETFs pulled in almost $178 million in fresh investment, their strongest single-day haul since late October. Fidelity’s fund topped the list, with Grayscale and BlackRock close behind.