Welcome to The Integrity Ledger — today’s stories track Fed decisions, market vulnerabilities, rising cyber threats, high-stakes IPOs, and a fresh wave of global corruption fallout.
Market commodities
Nasdaq | 23,365.69 | ▲ 0.65% |
S&P 500 | 6,849.09 | ▲ 0.54% |
|---|---|---|
Bitcoin | 91,691.68 | ▲ 0.93% |
Gold | 4,218.30 | ▲ 0.85% |
Dow Jones | 47,716.42 | ▲ 0.61% |
Ethereum | 3,039.38 | ▲ 1.60% |
Tether | 1.00 | ▲ 0.01% |
Binance Coin | 898.37 | ▲ 2.82% |
Solana | 139.34 | ▲ 2.39% |
Finance & Markets
Federal Reserve Schedules December 2025 Meeting Amid Rate Cuts
The Federal Reserve will hold its final rate-setting meeting of 2025 on December 9–10, following two quarter-point rate cuts this year that lowered the target range to 3.75%–4.00%. Market expectations signal a likely third cut to 3.50%–3.75%, as inflation remains above target and employment data are mixed amid delayed government reports.
Investors and consumers can anticipate lower borrowing costs if the Fed reduces rates again, potentially easing loan and mortgage rates. However, delayed economic data and ongoing inflation challenges complicate policy outlooks, requiring careful monitoring of upcoming labor and inflation reports.
Overheated Data Center Causes Major CME Trading Outage
A cooling system failure at a CyrusOne data center in Aurora, Illinois, disrupted CME Group’s futures and options markets for nearly 10 hours on Thanksgiving. The outage halted global trading across key assets including US Treasuries, gold, and oil from Tokyo to London, exposing vulnerabilities in market infrastructure reliance. CME delayed switching to backup systems, prolonging the disruption despite reassurances it would be brief.
The incident highlights the risks of centralized market infrastructure and reliance on single data hubs, prompting scrutiny of CME's contingency planning. Investors and traders faced liquidity challenges during a critical month-end period, emphasizing the need for diversified operational resilience across global exchanges.
Business & Investments
Wakefit IPO Opens December 8 to Raise Over ₹377 Crore
Wakefit Innovations, an Indian home furnishing company, launches its IPO subscription from December 8 to 10, 2025. The Bengaluru-based firm aims to raise ₹377.17 crore through a fresh equity issue alongside an offer-for-sale of over 4.67 crore shares, with plans to expand retail presence and invest in marketing.
Investors should note Wakefit's growth plans, including 117 new stores and marketing spend, underpinned by recent profitability. The IPO allotment is expected by December 11, with listing around December 15, presenting an opportunity to tap into a rapidly growing home furnishing brand in India.
Crypto & Fintech
Arthur Hayes Warns of Solvency Risk in Tether’s BTC and Gold Holdings
Arthur Hayes, BitMEX co-founder, cautioned that a 30% decline in Tether’s Bitcoin and gold holdings—worth $9.86 billion and $12.92 billion respectively—could eliminate the stablecoin’s equity cushion and render USDT insolvent. Hayes highlighted that Tether’s strategy, betting on Federal Reserve rate cuts, risks crushing interest income on its $112.42 billion U.S. Treasury holdings.
Investors and exchanges may demand increased transparency and real-time access to Tether's balance sheet to monitor solvency risks closely. The stablecoin's exposure to volatile assets like Bitcoin and gold, combined with reliance on interest income from fixed-income securities, could expose USDT to significant financial stress if market conditions shift unexpectedly.
FBI Warns of Simple Hack Stealing Millions from Bank Accounts
The FBI has issued a warning about a rising threat of financial account takeover fraud, which has resulted in over $262 million in losses since January 2025 from 5,100 reported attacks. Hackers use social engineering tactics, including phishing and impersonation of bank employees, to steal login credentials and two-factor authentication codes, enabling them to drain victims' accounts.
This advisory highlights the critical need for individuals to verify unsolicited calls from financial institutions and avoid phishing links. Financial institutions and customers should strengthen authentication methods and raise awareness to mitigate this costly fraud. The prevalence of linked crypto wallets complicates recovery efforts, increasing the urgency of proactive cybersecurity measures.
Emerging Tech & Ethics
DeepHealth Launches Advanced AI Imaging Solutions at RSNA 2025
DeepHealth, a RadNet subsidiary, unveiled new next-generation AI-driven imaging informatics and clinical solutions at RSNA 2025 in Chicago. The expanded portfolio spans diagnostics, remote scanning, operations management, and disease detection suites including breast, thyroid, neuro, chest, and prostate, leveraging FDA clearances and real-world deployments across thousands of sites. Notably, their Breast Suite demonstrated a 21% increase in cancer detection in a study of over 579,000 women.
These innovations aim to transform imaging workflows, improve diagnostic accuracy, and expand patient access globally. By integrating clinical and operational intelligence into a unified cloud-native platform, DeepHealth offers scalable, AI-powered tools that can alleviate workforce strain and streamline healthcare delivery. Radiology providers and imaging centers stand to benefit from enhanced efficiency, standardized care, and broader population health impact.
Chinese Salt Typhoon Cyberattack Likely Affected All Americans
A former FBI official and cybersecurity experts warn that the Chinese state-sponsored Salt Typhoon cyberattack has likely impacted every American by accessing telecommunications data over five years. The campaign targeted US government officials and political figures, with hackers maintaining undetected access to communications networks globally.
The breach highlights persistent vulnerabilities in telecommunications and critical infrastructure, urging companies and agencies to intensify detection and remediation efforts. Continuous monitoring and cross-agency collaboration will be crucial to prevent further infiltration and data exfiltration.
Forensic Lens
Money Trails
Privately owned water companies in England have issued £10.5bn in green bonds since 2017, accounting for nearly a fifth of the UK’s total corporate green bond issuance. Despite this, the sector has faced ongoing criticism for persistent sewage pollution and environmental shortcomings, with critics accusing the industry of greenwashing.
Investors in water sector green bonds face reputational and environmental risks as companies struggle to meet pollution reduction promises. The findings underscore the need for more stringent oversight and transparent impact reporting to ensure green finance delivers genuine environmental benefits.
Corruption & Governance
Israeli Prime Minister Benjamin Netanyahu has formally requested a presidential pardon to halt his ongoing corruption trial, accusing the legal proceedings of dividing the nation. The trial, involving charges of fraud, breach of trust, and bribery, has been repeatedly delayed due to recent conflicts. Netanyahu’s unprecedented pardon request as a sitting prime minister has drawn fierce criticism from opponents concerned about the rule of law.
The pardon request challenges Israel's legal norms and could deepen political polarization, raising questions about democratic institutions and equality before the law. Its rare nature means the trial will likely proceed, but the move underscores tensions between the government and judiciary amid national security crises.
Fraud Watch
Former GPB Capital CEO David Gentile received clemency from Donald Trump after beginning a seven-year sentence for a $1.6 billion scheme that defrauded thousands of investors. Gentile was convicted in May for misusing investor funds on lavish expenses, including private jets and luxury cars. New York authorities continue to pursue restitution for impacted investors through ongoing litigation.
The clemency underscores ongoing challenges in deterring white-collar fraud despite severe penalties. Investors and regulators should remain vigilant as litigation and accountability efforts continue against GPB Capital executives. The case serves as a cautionary example of investor risks tied to private equity misconduct.
Global Integrity Outlook
Global
Ukrainian President Volodymyr Zelensky faces internal crisis after his chief of staff Andriy Yermak resigned amid a £75 million energy kickback corruption scandal involving top officials. This controversy undermines public trust during a critical phase of peace talks with Russia and ongoing Russian missile attacks on Ukraine. The scandal threatens Zelensky's leadership at a pivotal moment in the war.
US
Senator Markwayne Mullin defended Trump's pardon of convicted drug trafficker Juan Orlando Hernandez while praising Trump for shutting Venezuela’s airspace to stop alleged drug flights. CNN host Dana Bash challenged the contradiction, highlighting Hernandez's drug trafficking conviction. Mullin shifted focus to countering China's negative influence in South and Central America.
South Asia
Bangladesh's ousted prime minister Sheikh Hasina fled to India amid massive protests and a deadly crackdown that killed an estimated 1400 people in 2024. She was later sentenced to death for crimes against humanity but remains in India, straining diplomatic ties. Nobel laureate Muhammad Yunus now leads an interim government aiming to restore democracy before February elections.
Latin America
Venezuelan President Nicolás Maduro and his allies resist intense US pressure, including sanctions and military buildups near Venezuela's coast, by maintaining a loyalty-punishment system within the ruling party. Despite US accusations linking Maduro to drug trafficking through the Cartel de los Soles and military strikes on suspected drug boats, Maduro retains military support and consolidates power amid worsening national crises.
Asia
The Hong Kong fire at Wang Fuk Court high-rise has killed at least 146 people, with around 40 still missing. Authorities arrested 11 people, including construction managers, amid a probe into unsafe renovation materials like flammable polystyrene foam. The disaster sparked demands for accountability over regulatory negligence in building safety.
Quick Bits / Short Reads
Gold futures in India rose nearly 3% last week to Rs 1,29,504 per 10 grams amid optimism on US rate cuts, RBI policy, and global central banks accumulating bullion, while silver surged over 10%, hitting record highs. — The Times Of India
US consumer confidence dropped to its lowest since April 2025 amid growing layoffs, with major employers like Amazon, UPS, and Target announcing tens of thousands of job cuts ahead of the holiday season. — Thestreet
The S&P 500 rallied 3.7% and Small-Cap 600 jumped nearly 5% in a holiday-shortened week on dovish rate cut expectations and Kevin Hassett emerging as frontrunner for Fed Chair succession in 2026. — Seeking Alpha
OPEC+ confirmed a pause on crude output hikes through Q1 2026 amid a looming surplus, with Saudi Arabia leading the group in maintaining steady production quotas despite weakening seasonal demand. — Financial Post
Economist Paul Krugman warned that Trump allies are weakening post-2008 financial regulations and supporting unstable crypto stablecoins, potentially setting the stage for another crisis. — Benzinga
A study finds 84% of US teens view news media negatively, blaming bias and lack of trust, while aspiring journalists argue newsrooms must engage new generations via social media and credible reporting. — Fortune
Expand Energy raised expected annual merger synergies from $400 million to $600 million by end of 2026 after delivering strong Haynesville well productivity and generating over $3 billion free cash flow at current prices. — Seeking Alpha
Wakefit Innovations plans an IPO of nearly Rs 1,300 crore in December 2025, aiming to raise Rs 377 crore from fresh issue and sell 4.67 crore shares via offer-for-sale, valuing the firm at around Rs 6,373 crore pre-IPO. — Moneycontrol
Stay sharp, stay ethical, and keep following the money.
— The Integrity Ledger Team