Fed December Rate Cut Signals, Major CME Outage, Global Corruption Raids & Cyber Breaches | The Integrity Ledger

Welcome to The Integrity Ledger — Fed signals a December cut, CME suffers hours-long shutdown, China outpaces U.S. in innovation funding, Upbit reopens major crypto networks, and global corruption crackdowns.

JPMorgan has shifted its outlook to anticipate a 0.25 percentage-point interest rate cut by the Federal Reserve on December 10, diverging from its previous expectation of easing policy in January. This shift aligns with indications from Fed officials, including New York Fed President John Williams, amid signs of labor market cooling and softer hiring trends. Market expectations for a December cut have fluctuated sharply but recently rebounded to around 85%.

A December rate cut would likely boost stock market sentiment by lowering borrowing costs and supporting higher valuations. Historically, December has been a strong month for equities, often buoyed by easing monetary policy, making this anticipated Fed move significant for investors positioning for year-end rallies.

The Street

CME Group resumed trading on its Globex platform Friday after a cooling-system failure at a CyrusOne data centre caused a multi-hour global futures disruption. Key derivatives markets, including equity-index and commodity futures, restarted amid ongoing liquidity challenges and heightened investor uncertainty during large options expiries.

Investors should anticipate increased volatility in megacap tech stocks such as Apple and Microsoft, alongside swings in energy and metals equities tied to commodity futures. Rate-sensitive financial stocks may also react sharply to bond market repricings, while small-cap and speculative names face amplified moves given thinner holiday liquidity.

Mathrubhumi English

Montage Gold Corp. announced a binding agreement to acquire Australian-listed African Gold Limited through a court-approved Scheme of Arrangement, strengthening its foothold in Côte d'Ivoire. The acquisition adds African Gold’s high-quality Didievi project, hosting an inferred resource of 989,000 ounces of gold, to Montage’s portfolio for an implied equity value of approximately US$170 million, with a 54% premium to African Gold’s recent share price.

This strategic acquisition bolsters Montage’s project pipeline and accelerates its goal to become a leading African gold producer. By leveraging Montage’s operational expertise and ongoing drilling programs, the Didievi project’s enhanced resource base is poised to unlock significant value, complementing Montage’s flagship Koné project scheduled for production in 2027.

Benzinga

South Korea's leading exchange Upbit will reactivate deposit and withdrawal services for major cryptocurrencies across Bitcoin, XRP Ledger, Aptos, Kaia, and Tron networks starting 2:45 p.m. UTC on November 28. On Ethereum, Upbit will initially support only ETH and USDT to ensure platform stability before expanding to other tokens. The phased resumption aims to enhance liquidity, trading flexibility, and market efficiency for users.

Traders can expect improved asset mobility and arbitrage opportunities following Upbit's service restoration, which strengthens South Korea's crypto market presence. Users should monitor network congestion risks during the initial hours and start with smaller transfers to test system performance. This development signals resilience and growing maturity in cryptocurrency infrastructure.

Bitcoin Ethereum News

China is closing in on the U.S. in total R&D expenditure, investing $781 billion in 2023 compared to the U.S.'s $823 billion, driven by a surge in corporate and applied research. Major multinational companies are accelerating innovation by leveraging China's skilled workforce and extensive research base, particularly in electric vehicles, autonomous driving, and clean energy technologies. Beijing’s centralized approach prioritizes technological self-sufficiency, aiming to dominate future global supply chains amid intensifying great-power competition.

China's integrated model of state-led funding and industrial policy accelerates commercialization of advanced technologies, posing challenges to Western innovation systems characterized by longer development cycles. Businesses and governments worldwide must weigh strategies of collaboration, competition, and coexistence as China reshapes the global tech landscape. The shift towards disciplined capital allocation suggests more efficient R&D investments, potentially fostering strategic champions in emerging sectors like AI and quantum computing.

Financial Post

The VeritasChain Standards Organization (VSO) has released VeritasChain Protocol (VCP) v1.0, an open cryptographic audit protocol designed to provide mathematically verifiable transparency for AI-driven and algorithmic trading systems. VCP replaces mutable server logs with tamper-evident cryptographic evidence, helping market participants comply with EU AI Act and MiFID II transparency mandates amid growing regulatory scrutiny.

By delivering an immutable, end-to-end audit trail, VCP addresses widespread trust issues in algorithmic trading, benefiting exchanges, brokers, proprietary firms, and regulators. Its tiered compliance framework enables tailored adoption across market environments, improving forensic investigations and supporting compliance with emerging global AI and financial regulations.

Financial Post

The French Football Federation (FFF) disclosed a data breach after attackers accessed administrative software using a compromised account. Stolen data include names, birth details, contact information, and license numbers of football club members. The FFF has reset all passwords, filed a criminal complaint, and notified French cybersecurity and data protection authorities.

The breach highlights the ongoing cyber risks faced by sports organizations and the importance of robust account security. Members should remain vigilant against phishing attempts impersonating the FFF or clubs. This incident emphasizes the need for continual security enhancements amid rising targeted attacks.

Bleeping Computer

FLUENT Corp. reported third-quarter 2025 revenue of $26.0 million, nearly flat year-over-year, but gross profit declined to $8.0 million from $14.3 million in Q3 2024 due to extraction inefficiencies and product mix shifts. The company is scaling up its Buffalo, New York and Rosa, Florida indoor cultivation facilities to expand premium flower production and improve margins heading into 2026.

FLUENT's operational adjustments and new facility activations aim to restore margins and enhance product quality, positioning the company for growth in regulated cannabis markets. Federal regulatory changes targeting hemp-derived THC products may further reduce illicit competition in Florida and Texas, improving economics for compliant operators like FLUENT.

Globenewswire_fr

Ukrainian President Volodymyr Zelensky's chief of staff, Andriy Yermak, resigned on Friday following an anti-corruption raid on his residence. Yermak, a pivotal figure in Ukrainian politics and foreign policy, faced pressure amid allegations of embezzlement in the energy sector, though he was not formally accused. His resignation disrupts planned peace talks with the Trump administration aimed at ending the war with Russia.

Yermak’s departure introduces uncertainty into Ukraine’s peace negotiations but does not alter Zelensky’s firm stance on resolving the war. The reshuffle highlights ongoing challenges in addressing corruption while maintaining political stability during high-stakes diplomacy.

Axios

A special court in Mumbai denied Mehul Choksi's request to dismiss the Enforcement Directorate's application declaring him a Fugitive Economic Offender (FEO) in the Punjab National Bank fraud case. Choksi, arrested in Belgium in April and facing extradition efforts, argued the FEO proceedings should be dropped since he is in custody for pending cases in India. The court ruled the FEO status continues until the accused appears, noting Choksi is contesting extradition.

The court's decision allows ED to continue confiscating Choksi's assets under the FEO Act, which targets fugitives evading prosecution for frauds exceeding Rs 100 crore. This ruling strengthens Indian authorities' efforts to hold high-profile absconders accountable and recover public funds siphoned in the PNB scam.

Deccan Herald

Orca Energy Group reported a 7% increase in gas deliveries for Q3 2025, driven by higher industrial consumption. Despite a 12% revenue decline, the company recorded an 834% rise in net income primarily due to arrears collection from TANESCO under a $52 million 2025 settlement. Legal disputes concerning its Tanzanian operations persist, impacting long-term business sustainability and license extension prospects.

Benzinga

Ukrainian President Volodymyr Zelenskyy’s chief of staff, Andriy Yermak, resigned following anti-corruption investigators raiding his apartment amid a widening probe into a $100 million scandal involving state energy company kickbacks. Yermak, a close Zelenskyy ally and lead peace negotiator, cooperated with investigations as the president seeks candidates to replace him amidst increasing domestic and Western pressure on corruption and war efforts.

National Post

The UK failed to reach an agreement with the EU to join the €150 billion Security Action for Europe loans-for-weapons program on favorable terms, blocking higher UK contributions to joint defense procurements. Despite the deadlock, the UK can still participate under the 35% threshold for third countries. Talks with Canada show more promise as negotiations continue.

First Post

Nepal released a new 100-rupee banknote depicting disputed areas of Lipulekh, Limpiyadhura, and Kalapani as part of its territory, escalating tensions with India. This move follows China’s claim over Arunachal Pradesh as South Tibet, prompting calls from Nepal’s Law Minister and Indian experts for diplomatic engagement to resolve disputes peacefully. The developments reflect ongoing border contentions in the region involving major neighbors.

The Economic Times

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