Ndax Weekly TL;DR Dec 15

• Pyth Network plans to build token reserve through DAO-funded buybacks
• Federal Reserve cuts benchmark interest rate by 25 basis points amid internal dissent
• Bank of Canada holds rate at 2.25%, signals extended pause

The Pyth Network said it will allocate roughly one-third of its protocol revenue to purchase its native PYTH token on the open market, with the acquired tokens forming a network reserve managed through its DAO. The initiative is intended to formalize how protocol revenue is reinvested and to establish a long-term reserve tied to network activity. Pyth said the approach aligns incentives between the protocol and token holders, though similar buyback strategies across the sector have previously prompted debate around governance, transparency, and treasury use. Cointelegraph

The U.S. Federal Reserve lowered its benchmark federal funds rate by 25 basis points to a range of 3.50%–3.75%, marking its third consecutive rate cut and bringing borrowing costs to their lowest level since 2022. The decision was notable for the level of disagreement among policymakers, with two Fed officials voting to keep rates unchanged and one supporting a larger 50-basis-point cut. Updated projections show slightly lower inflation expectations and stronger GDP growth forecasts, while markets continue to price in the possibility of additional easing in 2026 despite ongoing economic uncertainty and incomplete data due to the U.S. government shutdown. CoinDesk

The Bank of Canada held its benchmark interest rate at 2.25%, a decision that markets and most economists expected, with officials reiterating that the current rate is “about the right level” to keep inflation near 2% while supporting the economy. Governor Tiff Macklem downplayed recent stronger-than-expected GDP and employment data, pointing to trade-related volatility, flat domestic demand, muted hiring intentions, and expectations for weak fourth-quarter growth, while acknowledging inflation may be “choppy” in coming months. Economists broadly read the statement as reinforcing a pause after earlier cuts, but views differ on what comes next, ranging from extended holds to potential cuts in early 2026 or rate increases starting later in 2026 or beyond, with the January Monetary Policy Report expected to provide updated forecasts and more clarity on remaining economic slack. Yahoo Finance

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News Nuggets

• Terraform co-founder Do Kwon receives 15-year prison sentence in US fraud case Cointelegraph
• SEC approves DTCC plan to launch tokenized securities service Cointelegraph
• Satoshi Nakamoto statue displayed at the New York Stock Exchange  Cointelegraph
  YouTube enables U.S. creators to receive payouts in PayPal’s PYUSD digital dollar The Block
• Bitcoin miners increase use of renewable energy as profitability tightens  Cointelegraph
• UK regulator plans focus on VRCA payments in 2026 The Block
• Strategy challenges MSCI proposal on treatment of Bitcoin-focused companies Beincrypto

As of 12-15-2025 at 9:20 AM EST

Market Summary

• Over the past seven days, the global cryptocurrency market capitalization has decreased from CA$4.29 trillion to CA$4.21 trillion.
• Bitcoin's market dominance stands at 58.5%, while Ethereum's share is 12.4%. 

Performance

• Over the past 24 hours, the price of BTC has fluctuated between CA$121K and CA$124K registering a 2.42% change over the past week and a market cap of CA$2.5 trillion. (At time of writing) 
   

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Dec 16 – Canada Inflation Rate Announcement 
Dec 16 – US Unemployment Rate Announcement 
Dec 18 – US Core CPI Announcement 

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