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Odaily News: Stablecoin payment infrastructure provider Rain has submitted an application to the US Office of the Comptroller of the Currency (OCC) to establish Rain National Trust Bank in New York. If approved, the bank would provide institutional clients with digital asset and US dollar fiduciary custody, as well as stablecoin reserve management services.

Rain said Rain National Trust Bank could also issue and redeem US dollar-backed stablecoins under the GENIUS Act. Brandon Soto, former chief financial officer of Square Financial Services, will serve as president and CEO of the proposed bank, subject to OCC review.

The Independent Community Bankers of America (ICBA) sued the OCC on Friday, accusing it of allowing non-depository trust banks to engage in broad non-fiduciary activities beyond its regulatory authority. The ICBA is asking the court to overturn the OCC's chartering rule issued in March 2026 and Interpretive Letter 1176 from 2021, and to block the approval of more charters based on those documents.

The Crypto Council for Innovation said the lawsuit is intended to limit innovation. The ICBA complaint states that the OCC has approved or conditionally approved at least 21 trust banks, of which at least 13 are cryptocurrency companies. (Cointelegraph)

Odaily News: Virtuals Protocol announced on X that the Virtuals App has entered closed beta. The app features a personal AI, a built-in wallet, and market access, allowing users to discuss investment ideas, research targets, and execute trades in group chats. Currently, the Virtuals App is limited to an iOS closed beta and requires an invitation code for access.

Odaily News: Google Cloud has officially disclosed that its Blockchain Node Engine and Blockchain RPC services are scheduled to terminate operations on December 15, 2026, and is reminding customers to complete migration arrangements as soon as possible. To this end, Google Cloud has partnered with blockchain infrastructure service provider Quicknode, designating it as the officially recommended RPC infrastructure successor. Customers can redeploy nodes and RPC endpoints through the Google Cloud Marketplace or the Quicknode platform, and must complete application configuration adjustments and workload validation before the services officially shut down; at that time, Google will automatically delete existing Blockchain RPC endpoints on December 15.

Odaily News: Crypto analyst Darkfost posted on X that the Bitcoin Bull Score Index remains in a clearly bullish zone, currently at 80/100, with multiple indicators continuing to support BTC's upward momentum.

Darkfost noted that the only relatively lagging factor at present is spot demand. As previously observed, spot trading volume in the market remains low, so there is not yet obvious spot buying demand at this stage. He believes that spot demand is the key missing factor in the current BTC market trend, and this component is often the last to form.

Odaily News: Market news: Bridgewater founder Ray Dalio says the US debt crisis could erupt within 3 years.

Odaily News: According to Lookonchain monitoring, two addresses went long 24.57 million AGT on Aster DEX with 2x leverage, with a position value of $620,000. They currently have an unrealized profit of $297,000, with a maximum return of 115%.

Odaily News: Liquid Capital founder Yi Lihua posted on X: "Many projects have no spirit of contract. Users deposit BTC and are not allowed to withdraw it; investors' coins are arbitrarily deducted; terms are forcibly modified. This is no different from robbery. It poses an indiscriminate credibility risk to VCs, KOLs, and secondary investors. I strongly urge exchanges to make project credibility a key screening metric. In traditional stock markets, companies involved in fraud face penalties or delisting rules."

Odaily News: South Korea's Ministry of Science and ICT said that South Korea plans to launch a frontier artificial intelligence model research and development project worth 4.7 trillion won (about $3.5 billion) starting in March 2027, aiming to secure a place in the race for cutting-edge artificial intelligence.

The ministry said it plans to select a lead developer through a public bidding process after the National Assembly approves the 2027 budget in December, with the winner potentially announced as early as February. The South Korean government plans to combine national equity investment with private funding and concentrate computing chips, data, and talent into the project. The project will be open to a variety of entities, including single companies, corporate alliances, and special purpose entities, and hopes to have startups, companies, universities, and researchers play a leading role.

Odaily News: Moonshot AI has completed its final private funding round at a valuation of approximately $50 billion and is pushing ahead with an initial public offering (IPO) in Hong Kong in the first quarter of next year, according to people familiar with the matter. The company has also begun preparing to gauge investor interest and could start preliminary talks with investors as early as this month, the sources said. Discussions are still ongoing and the timing of the IPO may change, the people said.

Odaily News: Prediction market platform predict.fun posted "Soon" on X, accompanied by an image featuring a token with the letter P, hinting at a possible token launch.

Odaily News: Hunter Biden posted on X, reposting the latest interview content, once again responding to allegations that the previously launched LAPTOP token was a scam.

Hunter Biden said that when the LAPTOP token launched, a market maker provided about $5,000 in liquidity, so a $6 buy could push its market cap up by about 5%. Hunter Biden also stated that the relevant wallet records can prove the project is not a scam, and responded to outside questions about the LAPTOP token's trading in its first minute and the project's transparency. He also said many Democrats misunderstand the crypto industry.