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In brief JPMorgan has closed Strike CEO Jack Mallers’ accounts, citing “concerning activity,” but refuses to provide details. The closure comes despite Trump’s August executive order explicitly prohibiting the debanking of crypto-related initiatives. “Trying to choke off crypto won’t make it go away, it’ll just push it to thrive elsewhere and leave the US behind,” an expert told Decrypt. Banking giant JPMorgan Chase abruptly closed the bank accounts of Strike CEO Jack Mallers in September, resurfacing concerns about debanking practices toward crypto executives.”Last month, J.P. Morgan Chase threw me out of the bank,” the Bitcoin-focused payments firm’s CEO tweeted Sunday.…

In brief Created in January, the unit no longer functions as a centralized office, according to the administration’s personnel chief. Its brief life cycle included shifting mandates, public confusion around Musk’s role, and questions raised in court filings over its access to federal systems. The wind-down comes as the administration considers a rule that would make closing government programs and offices easier. The Department of Government Efficiency, created by executive order to drive President Donald Trump’s cost-cutting agenda, has effectively ceased operating eight months before its charter was set to expire.The office has ceased to exist as a “centralized entity,”…

In brief A key spot market metric has spiked to its second-highest level this year, signaling a potential bottom. Options traders are hedging for more downside, loading up on puts in the $85,000 to $80,000 range. Bitcoin may see a potential bull trap below $80,000 before a year-end recovery, Decrypt was told. Bitcoin has notched its fourth consecutive weekly loss, marking its longest downtrend since June 2024, even as it begins clawing back last week’s losses. Price action for the world’s largest digital asset is on track for its fourth-quarter performance to be its worst since 2018, with a current loss…

In brief Hougan says DATs face structural drag that usually drives them to trade at discounts. Only a few uncertain strategies can raise crypto-per-share over time, he argues. Other observers now claim staking and spot ETFs are eclipsing the DAT model. Bitwise’s chief investment officer, Matt Hougan, said Sunday most digital asset treasury (DAT) companies are unlikely to sustain premiums over their underlying crypto holdings, arguing that operational costs, liquidity constraints, and execution risk outweigh the limited ways firms can reliably grow their crypto-per-share.Hougan laid out a model that begins by treating a DAT as finite, weighing the predictable forces…