Ansem: Crypto value accumulation will primarily flow to stablecoins and traditional financial companies using their own blockchains.

- Bittensor's first TAO halving (mid-Dec 2025) cuts block rewards by 50%, aiming to reduce inflation and boost price potential through supply scarcity. - Market analysts compare this supply-driven mechanism to Bitcoin's halving pattern, noting intensified miner competition and potential bullish cycles. - While reduced liquidity and macro risks (regulation, supply chains) persist, AI sector growth (e.g., Fluence's $5.3B backlog) could amplify TAO's post-halving momentum. - The automatic halving requires no

- Bitcoin's price decline to $80,000 in late 2025 exposed ETF-driven demand fragility amid $1B+ forced liquidations. - Texas Blockchain Council's $5M IBIT ETF purchase highlights institutional adoption, but self-custody rules exclude BlackRock's product from official reserves. - Macroeconomic headwinds persist with 4.5%+ 10-year yields, though Abu Dhabi's tripled IBIT holdings signal global reserve reallocation. - Market transition shows institutional prioritization of gain-locking over accumulation, with

- Tether's increased Bitcoin and gold exposure risks USDT stability, prompting S&P to downgrade its peg rating to "weak five" in November 2025. - The firm's 116-ton gold purchase (2% of global Q3 demand) boosted gold prices 50% YTD while expanding XAU₮'s market cap to $2.1 billion. - Tether plans U.S.-exclusive USAT (100% Treasury-backed) to comply with the GENIUS Act, maintaining global gold/BTC reserves amid regulatory scrutiny. - Critics warn lack of audits and volatile asset reliance could erode trust,

- Ethereum (ETH) struggles near $3,200 as mixed technical signals highlight crypto market fatigue, with the 50-day EMA at $3,468 acting as key resistance. - A block gas limit increase to 60 million aims to improve scalability, but price remains anchored near $3,000 amid broader sector weakness and Bitcoin's failed 50-day EMA retest. - Elevated whale deposits and negative ETF flows signal deepening corrections, with Ethereum mirroring Bitcoin's bearish pattern and Solana's 20% TVL drop amplifying sector fra