Daily Market Wrap | Nov. 26

Hot Topics

• U.S. Bank successfully tests issuing a custom, fully reserved stablecoin on the Stellar network, aiming to enable faster, cheaper cross-border payments for its institutional clients.
• Texas invests $5M in BlackRock's IBIT ETF as a placeholder for its Strategic Bitcoin Reserve, advancing toward the first U.S. state-level government crypto holdings amid rising state and federal interest.

Market Updates

• ARK Invest adds $9.1M in Circle (CRCL) and Bullish (BLSH) shares via ARKK amid ongoing crypto stock slide.
• Polymarket secures CFTC amended order for regulated U.S. return, enabling intermediated access via FCMs and brokerages to reopen to American users this November after 2022 ban.
• Robinhood forms JV with Susquehanna to launch a CFTC-licensed derivatives exchange in 2026, acquiring MIAXdx to expand prediction markets amid surging demand.