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A report released by Citibank indicates that Bitcoin could reach $165,000 this year. The bank manages assets totaling $25 trillion.

Due to Citigroup analysts lowering their price forecasts for Bitcoin and Ethereum, the stock of cryptocurrency exchange Gemini (GEMI) fell more than 16% on Wednesday. Citigroup downgraded Gemini's rating from "Neutral" to "Sell," and significantly cut its target price from $13 to $5.5, citing that the exchange may take years to achieve profitability.Analysts indicated that as the U.S. midterm elections approach, the likelihood of significant cryptocurrency legislation passing this year is decreasing. Currently, Gemini has planned to exit the markets in the UK, EU, and Australia, and is laying off 25% of its workforce to reduce operating expenses and accelerate its path to profitability.

Citigroup has lowered its 12-month price target for Bitcoin from $143,000 to $112,000, and for Ethereum from $4,304 to $3,175.The bank pointed out that factors such as the stalled progress of U.S. cryptocurrency legislation, declining expectations for ETF fund inflows, and weak on-chain activity are the main reasons for this adjustment in forecasts. The current market trend remains highly dependent on U.S. regulatory developments. Although the CLARITY Act has passed in the House of Representatives, its progress in the Senate has been stalled, and legislative uncertainty continues to restrict institutional capital entry.Citigroup also stated that despite the recent resilience of ETF fund inflows, it has lowered its 12-month fund inflow expectations for Bitcoin and Ethereum to $10 billion and $2.5 billion, respectively. However, Citigroup indicated that in an optimistic scenario, Bitcoin could still reach $165,000 and Ethereum $4,488.

According to Crowdfund Insider, Nisha Surendran, Head of Digital Asset Custody Development at Citibank, announced at an industry event hosted by Strategy that Citibank plans to integrate Bitcoin into its core banking operations later in 2026, offering institutional-grade custody services, key management, and wallet systems.The platform will extend traditional tax reporting, compliance, and risk management processes to Bitcoin holdings, and support 24/7 operations, Swift global transfer messaging, and API connections. Citibank currently manages approximately $30 trillion in assets, and this move aims to eliminate operational barriers for institutional investors such as pension funds and insurance companies regarding crypto assets.Surendran stated that the first phase will launch core custody functions, with subsequent gradual expansion to services such as asset segregation and collateral management.

According to official news, Citibank announced that it has tokenized a bill of exchange and completed its entire lifecycle (from issuance to settlement) on the Solana blockchain.

According to Bloomberg, cryptocurrency exchange Bybit plans to offer banking-like services by launching accounts that support fiat currency balances such as the US dollar.Bybit CEO Ben Zhou stated that the exchange will collaborate with licensed institutions like Pave Bank in Georgia to launch "MyBank" accounts. These accounts will have International Bank Account Numbers (IBAN) and support the deposit and withdrawal of 18 currencies, expected to go live in February 2026. At that time, users will be able to directly convert incoming fiat currency into cryptocurrency.In addition, Bybit plans to launch new custody products for institutional investors to support the tokenization of real-world assets (RWA). Ben Zhou also revealed that Bybit is researching entry into the US market and considers a US listing a long-term goal, currently negotiating with major banks regarding potential consulting work.

According to PRNewswire, Swiss fintech company Mt Pelerin has announced the launch of a personal cryptocurrency IBAN service. This service allows users to convert self-custody wallets into universal accounts, enabling seamless fund transfers between blockchain and traditional banking networks.Users can create personal IBANs in euros or Swiss francs linked to their crypto wallets, supporting the receipt of bank transfers that are directly converted into cryptocurrency deposited into the wallet, as well as sending bank transfers to anyone using the cryptocurrency in their wallet. These payments appear identical to standard bank transfers, while cryptocurrency settlements occur seamlessly in the background. The service is open to users worldwide (except for a list of excluded countries), with IBANs provided free of charge, free conversion between fiat currency and ZCHF stablecoin, and standard rates applied for conversions of other cryptocurrencies. The service supports over 30 cryptocurrencies across 15 chains.

According to Cambodian media, Huionepay Group announced that due to recent changes in the external market environment, there has been a concentrated run on funds by millions of users in a short period. To ensure the safety of user funds and the smooth progress of subsequent payment processes, a phased delay in payment arrangements has been implemented after careful assessment and internal research.In response to this matter, the security agency Bitrace stated that Huionepay primarily operates its stablecoin payment business on the Ethereum and Tron networks. Among them, all business addresses on the Ethereum network had almost exhausted their USDT balances by October, with the last effective transfer occurring on November 3, after which there were no related withdrawal activities; on the Tron network, the business shutdown was gradual. On the 3rd, 7th, 17th, 19th, and 24th of that month, Huionepay gradually consolidated the balances of hot wallet addresses into at least a few addresses for user withdrawals. This fund was exhausted around the 28th, after which new addresses were urgently activated to consolidate user address funds to maintain operations.On-chain analysis shows that the daily USDT outflow from Huionepay has decreased from a peak of 41.83 million at the beginning of the month to 7.17 million on the 30th. Currently, on-chain analysis indicates that after Huionepay processed the last user withdrawal request on December 1 at 13:00 UTC+8, it completely stopped small withdrawals. Although the activity of consolidating user address funds is still ongoing, the funds are no longer flowing to ordinary user addresses but are being transferred out in large amounts. As of December 2, 2025, Huionepay's on-chain addresses had only 990,000 USDT remaining. This also means that the entity indeed ceased operations on December 1, consistent with the announcement made by Huione Group.

In response to Arthur Hayes' doubts about USDT operations, former Citibank crypto research head Joseph stated on the X platform that @CryptoHayes' analysis missed several key points:Disclosure of assets ≠ total corporate assetsUSDT discloses reserves based on the "matching principle," but its undisclosed balance sheet includes equity investment income, mining operations, corporate reserves, and potential Bitcoin holdings, with remaining profits distributed to shareholders in the form of dividends.Ultra-high profit margins and equity valueTether holds $120 billion in U.S. Treasury bonds (with an annual yield of 4%), generating an annual net profit of about $10 billion starting in 2023 (with only 150 employees), making it the world's most efficient money printer;The equity valuation could reach $50-100 billion (recently planning to raise $20 billion for a 3% equity stake, with a high valuation but strong fundamentals).Comparative advantages of bank-level reservesTraditional banks maintain only 5-15% liquid assets, while USDT's collateralization rate is clearly higher.Key difference: banks have central bank lender of last resort support, while USDT relies on its own asset liquidity.Conclusion: Tether not only will not face a crisis but also controls the strongest profit engine in the crypto world.Subsequently, Tether CEO Paolo Ardoino expressed his gratitude for the support in the comments section.

Citibank and Swift announced the completion of a pilot project for Payment-versus-Payment (PvP) settlement processes between fiat and digital currencies, validating the feasibility of interoperability between traditional financial systems and distributed ledger networks. This pilot was implemented using existing Swift infrastructure and achieved through seamless integration of institutional-grade blockchain connectors, business process coordinators, and smart contracts. Additionally, in the pilot, Citibank utilized the test version of USDC on the Ethereum Sepolia testnet to simulate a near-production environment.

According to CoinDesk, Wall Street giant Citibank has warned that Bitcoin's weak trading pattern may signal a downturn in the Nasdaq 100 index.Citibank analysts noted in a report on Thursday that Bitcoin's trading behavior has historically been closely correlated with the performance of the Nasdaq 100: when the cryptocurrency's price is above the 55-day moving average, Nasdaq's returns significantly improve. Currently, Bitcoin has fallen below this threshold, and the risk-adjusted returns in the stock market have weakened. The bank's analysts attributed the recent weakness in cryptocurrencies mainly to tightening liquidity conditions. The U.S. Treasury's rebuilding of cash balances, combined with a decline of about $500 billion in bank reserves since mid-July, has drained liquidity and put pressure on risk assets. However, the report pointed out that the Treasury's balance is now approaching levels where rebuilding typically stops, suggesting that liquidity may soon improve, thereby boosting Bitcoin and stocks.

ChainCatcher news, according to CNBC, Citibank is planning to launch a cryptocurrency custody service in 2026, as stated by an executive from the bank during an interview.As Wall Street giants continue to expand their footprint in the digital currency space, this move by Citibank indicates that traditional financial institutions are accelerating their entry into this arena. Biswarup Chatterjee, the bank's Global Head of Services Collaboration and Innovation, mentioned that the bank has been developing cryptocurrency custody services over the past two to three years and has made substantial progress.Chatterjee said, "We are exploring multiple avenues. We hope to launch a trusted custody solution in the coming quarters for our asset management clients and other institutional clients."

ChainCatcher news, according to Solid Intel, Citibank announced that it will integrate its blockchain platform Citi Token Services with the US dollar clearing system to provide 24/7 instant cross-border payment services for institutional clients in the US and the UK.

ChainCatcher news, Layer-1 network Mavryk Network announced the completion of a $10 million financing, led by MultiBank Group, to expand its real-world asset (RWA) tokenization program.It is reported that Mavryk Network and MultiBank have established a partnership to tokenize real estate in the United Arab Emirates valued at over $10 billion through the latter's RWA platform.

ChainCatcher news, according to Jinshi reports, Citigroup's Chief Investment Officer Kate Moore stated that the dollar has temporarily stopped its decline. If the market is truly convinced that the Federal Reserve will continue its rate-cutting cycle, then it is reasonable to assume that the dollar will soften slightly.

ChainCatcher news, according to Crowdfund Insider, Citibank has released two reports, "Investing in the Future" and "Real-Time Financial Systems," indicating that the global infrastructure investment demand will reach $58.6 trillion over the next 15 years. It calls for innovative financing models such as sovereign wealth funds and public-private partnerships (PPP) to fill the gap. The report states that current traditional financing models are constrained by budget deficits and need to attract institutional capital towards long-term yield areas such as renewable energy and digital infrastructure.The concurrently released "Real-Time Financial Systems" report reveals that Citibank's Citi Token Services, built using blockchain technology, has achieved 24/7 cross-border settlement, processing an amount equivalent to Germany's GDP on a daily basis. This solution utilizes smart contracts to optimize supply chain finance and trade settlement processes, with a network covering over 160 countries to provide real-time cash management services for businesses.The report cites Citibank DeFi strategist Alex Saunders, who believes that by 2025, crypto assets will continue to integrate into the mainstream financial system. Citibank emphasizes the need to collaborate with the government to address regulatory complexities and cybersecurity challenges to support the compliant development of real-time financial infrastructure.

ChainCatcher news, according to Cointelegraph, a cryptocurrency "pig butchering" victim Michael Zidell has sued Citibank in federal court in Manhattan, accusing the bank of ignoring suspicious transaction alerts, which led to him being scammed out of $20 million. The complaint shows that Zidell transferred funds to multiple bank accounts controlled by the scammers through 43 transactions, with nearly $4 million going into Citibank's Guju Inc account.This "pig butchering" scam began in 2023, with the scammers posing as a businessman "Carolyn Parker" luring Zidell into investing in NFTs through Facebook. The complaint points out that Citibank failed to investigate the unusual large integer transfers occurring frequently, violating anti-money laundering monitoring obligations. By the time Zidell discovered that the trading platform named OpenrarityPro had suddenly shut down, the funds were unrecoverable.

ChainCatcher news, according to CoinDesk, global banking giant Citi has partnered with the digital asset division of Switzerland's major securities trading platform, SIX Digital Exchange (SDX), to tokenize privately held shares, aiming to simplify the $750 billion market that currently relies on PDF files and paper documents.Citi will act as the custodian and issuance agent, providing tokenized versions of late-stage, privately held company equity on SDX's regulated blockchain platform—the Central Securities Depository (CSD) platform.

ChainCatcher news, according to Spazio Crypto, UAE real estate giant MAG has signed a $3 billion real asset tokenization (RWA) agreement with blockchain infrastructure company Mavryk, in partnership with Dubai financial derivatives institution MultiBank Group.According to the agreement, MAG's luxury real estate projects, including Dubai Riverfront, The Ritz-Carlton Residences, and Keturah Reserve, will be tokenized on the blockchain through MultiBank.io's compliant RWA market. MAG Senior Executive Vice President Talal Mofaq Al Ghaddah stated that these real estate assets will be issued as independent RWA tokens on the Mavryk blockchain.MultiBank will launch a native functional token MBG, which will provide features such as trading discounts and priority home purchasing rights within the ecosystem, and will adopt a deflationary buyback and burn model. The platform plans to expand its current asset scale from $3 billion to $10 billion.