Welcome to The Integrity Ledger — today, central banks test markets, currencies find fragile footing, crypto loses altitude, and beneath the noise, global power lines subtly move.
Market commodities
Nasdaq | 23,195.17 | ▼ 1.69% |
S&P 500 | 6,827.41 | ▼ 1.07% |
|---|---|---|
Bitcoin | 89,281.55 | ▼ 1.12% |
Gold | 4,328.30 | ▲ 0.71% |
Dow Jones | 48,458.05 | ▼ 0.51% |
Ethereum | 3,100.90 | ▼ 0.50% |
Tether | 1.00 | ▼ 0.02% |
Binance Coin | 887.26 | ▼ 1.13% |
Solana | 131.29 | ▼ 1.47% |
Finance & Markets
Bank of Japan Signals First Rate Hike in Nearly a Year
The Bank of Japan is set to raise interest rates for the first time in 11 months amid persistent yen weakness and narrowing US-Japan rate spreads. Despite smaller interest rate differentials, Japanese investors continue favoring US equities, supporting sustained USD strength. Forward rate indicators suggest the yen may appreciate soon, with a BOJ rate hike potentially triggering a yen strengthening cycle.
A BOJ rate increase and possible guidance on further tightening could disrupt global carry trades reliant on yen weakness. Investors and currency strategists should prepare for potential shifts in USDJPY dynamics, impacting forex markets and international capital flows.
Naira Appreciates to ₦1,454 as External Reserves Top $45 Billion
The Nigerian naira rebounded to ₦1,454 per dollar on December 13, 2025, driven by targeted interventions from the Central Bank of Nigeria (CBN) and a $396.84 million weekly increase in external reserves, which now exceed $45 billion. Despite ongoing high demand for foreign currency, improved liquidity and stronger reserve levels have stabilized the official and parallel forex markets.
The enhanced external reserves provide the CBN with greater capacity to manage currency volatility and support the naira's stability, benefiting importers and FX market participants. Seasonal inflows expected during the yuletide period may further strengthen the naira, although forward rates indicate cautious short-term sentiment.
Business & Investments
Wakefit Solutions IPO to List Tomorrow with Moderate Grey Market Gains
Wakefit Solutions is set to debut on BSE and NSE on December 15 after successfully concluding its IPO allotment. The IPO, which raised Rs 1,288.89 crore through a fresh issue and offer for sale, saw a moderate subscription of 2.52 times, led by retail investors with 3.17 times subscription. The latest grey market premium of Rs 5 suggests an estimated listing price around Rs 200, implying a modest 2.56% gain.
The subdued grey market premium and selective investor interest indicate a cautious market sentiment toward Wakefit’s stock listing. Investors should anticipate a measured price performance at debut rather than significant volatility, reflecting broader market caution amid ongoing equity volatility. The company’s planned use of IPO proceeds for expansion and operational initiatives highlights a strategic growth phase.
Crypto & Fintech
Bitcoin Dips Below $90K as Markets Await US Data and BOJ Move
Bitcoin slipped below $90,000 to trade near $89,600 during quiet Sunday sessions, down 0.9% over 24 hours and roughly 7.6% over the past month. Ether outperformed weekly, trading near $3,085 despite day losses, while major altcoins continued to face double-digit monthly declines amid subdued market activity. Investors await key U.S. employment and inflation data alongside the Bank of Japan’s expected interest rate decision this week.
Traders’ cautious stance and bitcoin’s critical $86,000 support level suggest potential downside if technical floors fail. The BOJ’s anticipated rate hike and U.S. economic data releases could introduce volatility, influencing crypto liquidity and risk appetite. Market participants should monitor these events closely for directional cues.
GeeFi Launches DEX Focused on Secure, User-Centric Trading
GeeFi Tech LLC announced the upcoming launch of its native Decentralized Exchange (DEX), designed to provide a secure, high-speed, and autonomous trading platform. Backed by over $1.3 million in capital from 2,400 investors, the DEX will integrate with GeeFi's existing wallet and introduce Crypto Cards, all powered by the deflationary GeeFi Token (GEE).
This launch reinforces GeeFi’s position in the DeFi sector, offering enhanced user sovereignty and security through non-custodial trading. Its staking incentives and referral programs aim to build a committed community and encourage ecosystem growth ahead of the public token debut.
Emerging Tech & Ethics
Journalism’s Vital Role Amid AI-Driven Information Surge
As AI increasingly sources and delivers information efficiently, fears that journalists may become obsolete are misplaced. AI amplifies the need for professional journalism to verify, investigate, and contextualize amidst vast data volumes and synthetic content. Journalists must adopt new skills like algorithmic auditing to hold AI systems accountable and maintain public trust.
The rise of AI demands journalists expand their expertise beyond traditional reporting to include technical understanding of AI biases and automated governance impacts. Media organizations must integrate AI carefully to preserve editorial independence and resist algorithmic bias. Ultimately, journalism’s survival hinges on adapting to AI’s challenges, ensuring rigorous verification and accountability in a complex digital landscape.
Microsoft Confirms 41 Zero-Day Flaws, Users Face Update Dilemma
Microsoft revealed the existence of 41 zero-day vulnerabilities impacting its software, raising concerns about the security effectiveness of standard Patch Tuesday updates. Millions of users must now evaluate whether routine patches suffice or if additional protective measures are necessary.
This disclosure underscores the persistent threats facing Microsoft users and highlights the need for heightened vigilance and potentially supplementary security strategies beyond monthly updates. Enterprises and individuals should assess their exposure and consider advanced defenses to mitigate risks from these vulnerabilities.
Forensic Lens
Money Trails
ServiceNow is in advanced talks to acquire cybersecurity startup Armis, valued at $6.1 billion, in a deal potentially worth $7 billion. Founded in 2016, Armis recently surpassed $300 million in annual recurring revenue and raised $435 million in its latest funding round led by Goldman Sachs Alternatives.
If completed, this acquisition would mark ServiceNow’s largest deal to date, enhancing its cybersecurity capabilities amid growing enterprise demand. The move reflects broader market trends where startups favor lucrative buyouts over uncertain IPOs amid volatile public markets.
Corruption & Governance
A provincial anti-corruption court in Sindh has exonerated Dr Asim Hussain, former petroleum minister, from all corruption charges related to Rs459.5 billion alleged losses involving a fertiliser scam, land encroachment, and money laundering. The Anti-Corruption Establishment recommended cancellation after fresh investigations found insufficient evidence for prosecution. However, money laundering allegations were referred to a competent court under the relevant law.
The court's decision highlights jurisdictional clarity following legal amendments, impacting how high-profile corruption cases are prosecuted in Pakistan. Investigations will continue separately on money laundering charges, indicating ongoing scrutiny despite exoneration on other counts.
Fraud Watch
The CBI has filed a chargesheet against 17 individuals, including four Chinese nationals, and 58 companies for involvement in a cyber fraud network that siphoned over Rs 1,000 crore via shell companies and digital scams. The syndicate operated from 2020, employing 111 shell companies and mule accounts, with one account receiving Rs 152 crore, using complex technology-driven methods to evade detection.
This case highlights the rising threat of transnational cybercrime exploiting digital financial systems and shell entities. Businesses and regulators must strengthen KYC measures and monitor mule account activities to combat sophisticated fraud rings operating across borders.
Global Integrity Outlook
Global
Ukraine's President Zelenskyy has abandoned the goal of joining NATO in exchange for binding Western security guarantees ahead of peace talks, marking a significant shift amid the ongoing war with Russia. This move meets one of Russia's demands, with Kyiv seeking firm legal security assurances from the US, Europe, and other allies to prevent further invasion.
US
Authorities in Rhode Island have taken a person of interest into custody after a shooting at Brown University during final exams killed two and wounded nine. The suspect, detained at a hotel in Coventry, was in their 30s, and the university has canceled all classes for the semester as the community copes with the tragedy.
Eastern Europe
Belarusian authorities released 123 prisoners, including Nobel Peace Prize laureate Ales Bialiatski and opposition figures Maria Kolesnikova and Viktar Babaryka, following a deal with Washington that lifted U.S. sanctions on Belarusian fertilizer exports. The releases come amid ongoing repression and aim to ease Western sanctions. Despite releases, over a thousand political prisoners remain jailed.
Asia
Hong Kong's last major opposition party, the Democratic Party, voted to disband amid increasing Chinese pressure and a sweeping national security crackdown since 2019. The party, which once dominated city politics pushing for democratic reforms, faced threats including possible arrests of senior members. This marks a significant erosion of Hong Kong's political pluralism under China's tightening control.
Quick Bits / Short Reads
The Bank of England is widely expected to cut interest rates for the sixth time since the general election, aiming to ease inflationary pressures and support the UK economy amid weakening growth and rising unemployment. — The Guardian
Major US stock indexes posted gains in 2025 with the Dow and Russell 2000 hitting record highs, despite a Friday selloff sparked by concerns over AI spending sustainability in firms like Oracle and Broadcom. — The Street
US homeowners face shrinking equity cushions averaging $13,400 lost annually as home prices cooled in 32 states, with the largest declines in Florida, DC, and California while some Northeast markets still see modest gains. — The Street
The euro’s strength, boosted by a nearly 13% gain against the dollar in 2025 and a 7% decline in the Chinese yuan, is amplifying deflationary pressures on the eurozone and increasing the likelihood of European Central Bank rate cuts by mid-2026. — Khaleej Times
Nearly 50% of Indian family businesses report revenues between $1 billion and $30 billion, with 53% adopting AI technology and 76% committed to ESG priorities, driving strong growth and expansion plans across sectors. — The Economic Times
Investor Michael Burry warns the Federal Reserve’s new Treasury bill purchase program signals growing fragility in the US banking system amid tightening monetary policies and geopolitical trade tensions. — Benzinga
Brazil’s Itaú Unibanco recommends investors allocate 1% to 3% of their portfolios to Bitcoin in 2026 as a diversification tool amid currency volatility and global economic uncertainty. — Bitcoin Ethereum News
SBI aims to double its YONO digital banking platform users to 20 crore over two years, leveraging upgraded app features and strong credit growth in retail, agriculture, and MSMEs despite recent rate cuts by the RBI. — Money Control
Stay sharp, stay ethical, and keep following the money.
— The Integrity Ledger Team