What happened this night in the crypto market?

• Bitcoin fell below $90,000, and the chances of reaching $100,000 by the end of the year have dropped below 30% after the Fed's decision.

• The Federal Reserve lowered its rates as planned and will start on December 12 to buy back $40 billion worth of 30-day Treasury bonds, while announcing an upcoming pause.

• According to Token Terminal, the total market capitalization of stablecoins reached a record high of $310 billion.

• BitMine strengthened its reserves with an additional 33,504 ETH, amounting to an investment of $112.06 million.

• State Street and Galaxy will launch a tokenized liquidity fund, SWEEP, on Solana in 2026, with an initial investment of $200 million by Ondo Finance.

• The Ethereum Foundation activated BPO-1, increasing blob capacity to 15 per block without a hard fork. BPO-2 is scheduled for January.

• Bhutan announced the launch of the sovereign gold-backed token, TER, scheduled for December 17 on Solana.

• Solana, via Anatoly Yakovenko, reaffirmed that it has no single point of failure.

• Gemini received CFTC approval to launch a prediction market and plans to expand to futures, options, and perpetual contracts on cryptos.

• Several crypto company executives are joining the U.S. CFTC Innovation Council.

• Lighter DEX reported a global outage affecting some users.

• Jerome Powell specified that recent job creations were overestimated by 60,000 and reaffirmed the 2% inflation target.

• Schmid and Goolsbee opposed rate cuts during the Fed voting.

• Exactly 17 years ago, Satoshi Nakamoto launched the Bitcoin mailing list.