The Federal Reserve meets this week to set U.S. interest rates. The Federal Open Market Committee (FOMC) is likely to lower its target interest rate by 25 basis points to 3.50% to 3.75% when it announces its decision on December 10, according to CME’s Fedwatch tool. Lower interest rates tend to encourage investments in riskier, more volatile assets such as cryptocurrencies and stocks in search of higher returns.
Terraform Labs founder Do Kwon pleaded guilty to defrauding investors and will be sentenced on December 11. U.S. prosecutors recommended a 12-year sentence. The collapse of Do Kwon’s UST algorithmic stablecoin and the related luna token was largely responsible for the brutal market downturn of 2022, often referred to as the “crypto winter.”
What to see
- cryptocurrency
- December 8: The EstateX (ESX) platform is launched for Unicorn Club members (requires 1M ESX) and NFT holders; the first property for sale.
- December 8 (open): ProCap Financial Inc. (BRR), formed from the merger of Columbus Circle Capital Corp. I and ProCap BTC, LLC, begins trading on the Nasdaq Global Market.
- December 8, 11:30 AM: Enjin (ENJ) activates the Senotsa upgrade on the Relaychain and Matrixchain mainnets.
- December 8, 1:30 pm: Hivemapper (HONEY) AMA on X Spaces.
- December 9: Twenty One Capital begins trading on the New York Stock Exchange under the ticker XXI following a business combination with Cantor Equity Partners (CEP).
- December 10, 6 a.m.: Kaia (KAIA) Korean AMA on X Spaces.
- December 10: Celo’s Jello hard fork brings ZK-backed proof-of-failure to the network.
- December 11, 11 a.m.: Terraform Labs co-founder Do Kwon, who pleaded guilty in August to U.S. conspiracy and wire fraud charges, will be sentenced in New York by Judge Paul Engelmayer. Prosecutors sought a maximum prison sentence of 12 years, and the defense asked for five years.
- December 11, 3pm: Chia (XCH) Zoom AMA.
- December 12: The EstateX (ESX) platform is open to everyone; select real estate shares can be purchased through PROPX.
- December 13 (expected): Bittensor (TAO) first halving event will reduce daily TAO emissions from 7,200 to 3,600.
- December 13, 12 noon: Xelis (XELIS) smart contract mainnet goes online.
- Macro
- December 9, 7 a.m.: Mexico’s November inflation rate. Overall year-on-year (previous value 3.57%), month-on-month (previous value 0.36%). Core year-over-year (previously 4.28%), sequentially (previously 0.29%).
- December 9, 8:15 AM: ADP weekly employment change report (previous value -13.5K).
- Dec. 9, 10 a.m.: Job Openings and Labor Turnover Survey (JOLTS) report. There are expected to be 7.2 million job vacancies in September and 30.91 million resignations in September.
- 7 am on December 10: Brazil’s overall inflation rate in November is year-on-year (previous value 4.68%), and month-on-month is expected to be 0.09%.
- December 10, 9:45 a.m.: Bank of Canada interest rate decision. Base rate (previously 2.25%). 10:30 a.m. press conference
- December 10, 2 p.m.: Federal Open Market Committee (FOMC) interest rate decision (expected to cut rates by 25 basis points to 3.5%-3.75%) and economic forecasts; 2:30 p.m. press conference (watch live).
- December 10, 4:30 pm: Brazilian Central Bank interest rate decision. Base rate (previously 15%).
- 8:30 am on December 11: The number of initial unemployment benefits in the United States for the week ending December 6 (previous value 191K), and the number of continuing unemployment benefits in the United States for the week ending November 29 (previous value 1939K).
- Earnings (estimates based on FactSet data)
Token event
- Governance votes and calls
- Celo Public Goods is voting on the December allocation of Support Stream Season 1, allocating CELOs and OPs to projects based on stCELO voting. Voting closes on December 8th.
- Aave DAO is voting to add the USDG stablecoin issued by Paxos to the Aave V3 Core instance. Voting closes on December 8th.
- The ENS DAO is voting on a “temperature check” to commission an independent review of its operations and spending over the past two years. Voting closes on December 9th.
- CoW DAO is voting on CIP-76 to approve a budget of 13.8 million USDC and a recharge of 100 million COW tokens in 2026 for the operation and incentives of its core team. Voting closes on December 9th.
- GnosisDAO is voting on GIP-144 to update Blockscout’s hosting and SLA services in calendar year 2026. Voting closes on December 9th.
- MoonDAO is voting on MDP-204 to overhaul its project system by switching to quarterly voting and monthly reporting. Voting closes on December 10th.
- The Arbitrum DAO is voting on a one-year program funded by the existing DIP budget to provide financial incentives to the more than 200,000 ARB representatives who continue to vote and publish their reasoning. Voting closes on December 11.
- Unlock
- December 10: Unlocking 6.76% of its circulating supply, worth $14.63 million.
- December 11: Unlocking 0.96% of its circulating supply, worth $21.04 million.
- December 13: Unlocking 2.86% of its circulating supply, worth $11.02 million.
- Token issuance
- December 8: STABLE mainnet launched. The token will be listed on MEXC, Bitfinex, Phemex, etc.
- December 9: HumidiFi’s WET token collection period begins and the liquidity pool goes online.
- December 10: Will be listed on Kraken.
Meeting