The market trend on the first day of December is quite interesting.

First, let's talk about the overall environment - news has come from Trump that the selection for the Federal Reserve Chair has basically been finalized, which means that the leadership of the central bank may undergo significant reshuffling. More critically, the Federal Reserve officially pressed the "pause button" on quantitative tightening today, marking the start of a new monetary policy cycle.

The crypto space is also turbulent. CoinShares has suddenly withdrawn its ETF applications for XRP, SOL, and Litecoin, directly exiting this crowded race. It seems the competition is so fierce that even veteran players are starting to reassess their positions.

The Asian market is also experiencing undercurrents: The Governor of the Bank of Japan has hinted at a possible interest rate hike in December. If this move is indeed made, the flow of funds and the currency market in Asia are likely to be reshuffled.

Regarding the Federal Reserve's subsequent actions, Barclays expects a 25 basis point rate cut in December, but internal divisions remain, and the policy path is still unclear. Several key events this week are worth monitoring: the Fed Chair's speech, U.S. PCE inflation data, and the non-farm payroll report that can stir the market every month; any one of these could become a turning point for risk appetite.

Finally, here's some good news: Ripple has received full license approval from the Monetary Authority of Singapore, allowing it to conduct payment operations locally, marking another step in its global compliance strategy.