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Hong Kong’s FSTB and SFC will introduce licensing requirements for virtual asset dealing and custody firms, expanding the city’s policy push that already includes a stablecoin licensing blueprint and tokenization guidance. Hong Kong regulators will proceed with legislating licensing regimes for crypto dealers and custodians after wrapping up consultations, as part of a broader push to tighten oversight. In a Wednesday announcement, the city’s Financial Services and the Treasury Bureau (FSTB) and the Securities and Futures Commission (SFC) said that they had concluded consultations on proposed licensing regimes, which would require firms providing crypto dealings or custody services in Hong Kong to obtain licenses once the framework takes effect. The move adds to the city’s expanding crypto licensing framework. Earlier in 2025, Hong Kong brought its Stablecoin Ordinance into force, opening a new licensing regime for stablecoin issuers. Read more
Crypto enters 2026 with mature infrastructure; now DApps must prove real utility, win users without incentives and compete directly with Web2. As the crypto space headed into the last month of 2025, the mood was different from previous cycles. The year didn’t bring another decentralized finance (DeFi) summer or non-fungible token (NFT) euphoria, but instead ushered in a slow and sober pivot toward utility. Decentralized applications (DApps) are software programs that run on blockchain networks, rather than centralized servers. By using smart contracts, DApps allow users to interact directly with apps for payments, finance, gaming or social media while retaining greater control over identities and assets. Active builders held steady in 2025 but shifted their priorities to a longer-term outlook. According to Electric Capital’s Developer Report, the number of full-time crypto developers — defined as contributors committing code at least 10 days per month — rose 5% year-on-year, even as total developer counts di...
Aave founder Stani Kulechov is facing criticism after a $10 million AAVE purchase ahead of a key DAO vote, as critics raise concerns over voting power concentration. Aave founder Stani Kulechov is facing scrutiny over his recent $10 million purchase of AAVE tokens, with some in the crypto community claiming it was used to boost his voting power in a key governance proposal. In a Wednesday post on X, Robert Mullins, a decentralized finance (DeFi) strategist and liquidity specialist, argued that the purchase was meant to increase Kulechov’s “voting power in anticipation to vote for a proposal directly against the token holders best interests.” He added: “This is a clear example of tokens not being equipped to adequately disincentivize governance attacks.” Read more
The USD1 stablecoin added $150 million to its market capitalization after Binance announced an incentive program offering up to 20% yield. The World Liberty Financial USD (USD1) stablecoin linked to the family of US President Donald Trump gained $150 million in market capitalization on Wednesday after Binance announced a yield program centered around the token. The stablecoin’s market capitalization climbed from $2.74 billion to $2.89 billion on Wednesday after Binance announced its “booster program,” offering up to 20% annual percentage rate (APR) on USD1 flexible products for deposits exceeding $50,000. The “first promotion” was designed to “help USD1 holders to maximize their rewards” and runs until Jan. 23, 2026, with passive yield for the bonus tiered APR distributed directly in Binance users’ earn accounts daily, according to the announcement. Read more
Four years ago, El Salvador started its ambitious Bitcoin adoption strategy. But in 2025, that plan came to a head with the International Monetary Fund. El Salvador, the first country in the world to recognize Bitcoin as legal tender, was seen by many in the industry as a pioneer. In 2025, the small country’s Bitcoin ambitions met reality. The Central American country made waves in 2021 when the Legislative Assembly approved a bill that required all merchants, stores and places of business to accept Bitcoin (BTC) as a form of payment. Proponents believed it would set off a chain of Bitcoin adoption and be a boon for the country’s economy. Ambitious adoption plans, including the issuance of bonds to fund a “Bitcoin City,” met lukewarm adoption from Salvadorans. Adoption was further muddied by concerns from the International Monetary Fund (IMF). Read more
Bitcoin’s selling pressure may be easing as momentum stabilizes, miners capitulate and liquidity conditions turn supportive. Bitcoin (BTC) may establish a local bottom after dropping by over 35% from its record high of around $126,200 established two months ago, based on a mix of technical and on-chain indicators. Key takeaways: Momentum, miner capitulation and liquidity indicators point to fading selling pressure. Read more
Bitcoin price predictions include an initial $100,000 target after completion of the Boxing Day options expiry, worth a record $23.7 billion. Bitcoin (BTC) frustrated traders on Christmas Eve as rangebound BTC price action contrasted with record highs in gold and silver. Key points: Bitcoin plays a “waiting game” as bidders stay focused on precious metals. Read more
Kraken’s pending IPO and the wave of crypto companies seeking public listings may help the industry attract more TradFi capital. A potential initial public offering (IPO) next year by cryptocurrency exchange Kraken may attract fresh capital from traditional finance (TradFi) investors. Bitcoin recorded an all-time high price above $126,000 on Oct. 6, but hasn’t recovered from a $19 billion liquidation event that hit the industry a few days later. At the time of writing, the world’s largest cryptocurrency was trading at $87,015 per coin, down 6% in two weeks, according to CoinGecko. Still, Dan Tapiero, founder and CEO of 50T Funds, claimed that the Bitcoin (BTC) bull market is "still mid-stage.” He added that Kraken’s IPO and an increasing number of (M&As) may provide the necessary tailwinds to bring new capital from TradFi. Read more
Bitcoin holds near $87,000 as on-chain activity and exchange inflows fall, signalling tight liquidity and looming volatility. While Bitcoin (BTC) continues to hover near $87,000, onchain activity and exchange liquidity metrics suggest that the market is operating in a low-participation period, limiting its move above $90,000. Key takeaways: Bitcoin traded near $88,000 as network activity fell to yearly lows, alongside a reduction in sell pressure. Read more
Ondo plans to launch tokenized US stocks and ETFs on Solana in 2026, using custody-backed assets, onchain transfers and embedded compliance. Ondo plans an early 2026 rollout of tokenized US stocks and ETFs on Solana. The tokens are custody-backed. Underlying securities sit with US-registered broker-dealers, while onchain holders receive economic exposure rather than shareholder rights. Minting and redemption are designed to keep tokens anchored to real assets on a 24/5 basis, while transfers and trading can operate 24/7. Read more
Several VC-backed crypto projects now trade at market capitalizations well below the valuations assigned during their last private funding rounds. Several blockchain startups once valued near $1 billion now have market capitalizations that are only a fraction of those figures, as tighter liquidity forces valuation resets. This is evident across several high profile projects, according to data compiled by CryptoRank. Humanity Protocol, which carried a venture valuation of around $1 billion, now has a market capitalization of about $285 million. Fuel Network, also previously valued near $1 billion, is trading closer to $11 million, while Bubblemaps, once assigned a similar venture capital (VC) valuation, has a market cap of about $6 million. Read more
Philippine regulators are tightening control over crypto access, signaling that global exchanges must secure local licenses to operate. Internet service providers (ISPs) in the Philippines began blocking major crypto trading platforms as regulators moved to enforce local licensing rules on crypto service providers. Users reported that as of Tuesday, access to global cryptocurrency exchanges Coinbase and Gemini was unavailable in the Philippines. Cointelegraph independently confirmed that both platforms were inaccessible across multiple local ISPs. A report by the Manila Bulletin said the ISP blocks followed an order from the National Telecommunications Commission, which directed providers to restrict access to 50 online trading platforms flagged by the Bangko Sentral ng Pilipinas (BSP), the central bank, as operating without authorization. Read more
Trend Research’s 46,379 ETH purchase vaults the private company into the top tier of ETH treasuries, behind only SharpLink Gaming and BitMine Immersion Technologies. Trend Research purchased 46,379 Ether (ETH) on Wednesday to raise its holdings to about 580,000 ETH, making it larger than most public Ethereum treasuries tracked by CoinGecko. Only two listed companies, SharpLink Gaming and BitMine Immersion Technologies, currently report bigger ETH balances, with 859,853 ETH and 4,066,062 ETH, respectively. Trend Research is not a publicly listed company and therefore does not appear in most Ethereum treasury rankings. Still, it has drawn industry attention for its rapid ETH accumulation. Read more
HashKey Capital has raised $250 million in commitments for the first close of its fourth crypto fund amid continued institutional demand despite volatile market conditions. HashKey Capital secured $250 million in commitments in the first close of its fourth crypto-focused fund amid “significant interest” from institutional investors despite shifting market conditions. The fund, known as “HashKey Fintech Multi-Strategy Fund IV,” exceeded initial expectations at its first close and is targeting a final size of $500 million, the company said in a news release on Wednesday. HashKey did not identify its investors, but said the commitments came from a mix of global institutional investors, family offices and high-net-worth individuals. Read more
Bitcoin and Ether ETFs have recorded sustained outflows since early November, which Glassnode says signals institutional disengagement. Bitcoin and Ether exchange-traded funds have seen a prolonged streak of outflows, indicating that institutional investors have disengaged with crypto, said the analytics platform Glassnode. Since early November, the 30-day simple moving average of net flows into US spot Bitcoin (BTC) and Ether (ETH) ETFs has turned negative, Glassnode said on Tuesday. “This persistence suggests a phase of muted participation and partial disengagement from institutional allocators, reinforcing the broader liquidity contraction across the crypto market,” it added. Read more
Galaxy’s Alex Thorn says Bitcoin's $126,000 peak translates to $99,848 after being adjusted for inflation, falling short of its milestone six-figure mark. Bitcoin came just shy of hitting a milestone six figures when inflation is factored in, despite the cryptocurrency hitting an all-time peak of above $126,000 in October, says Galaxy head of research Alex Thorn. “If you adjust the price of Bitcoin for inflation using 2020 dollars, BTC never crossed $100,000,” Thorn said on Tuesday. Thorn said his adjusted price high for Bitcoin (BTC) accounted for the Consumer Price Index (CPI) decline in purchasing power incrementally across every inflation print from 2020 to today. Read more
Two new exchange-traded funds from Amplify track companies building the infrastructure for stablecoins and tokenization, blending stocks and crypto. Digital asset manager Amplify has launched two exchange-traded funds tracking blockchain projects across stablecoins and tokenization. The company said on Tuesday that its Amplify Stablecoin Technology ETF (STBQ) and Amplify Tokenization Technology ETF (TKNQ) both went live on the NYSE Arca exchange. Both funds track a diversified index of companies working on products or infrastructure, along with projects that generate revenue from tokenization and stablecoins. Read more
The Ontario Securities Commission has cleared Matador to raise $58 million, which it intends to use to expand its Bitcoin treasury. Bitcoin financial services firm Matador Technologies has received the regulatory green light to sell up to 80 million Canadian dollars ($58.4 million) worth of company shares, which it will use to help reach its goal of owning 1,000 Bitcoin by the end of 2026. Matador said on Tuesday that the Ontario Securities Commission has permitted it to issue $58.4 million worth of common shares, warrants, subscription receipts, debt securities, or units over a period of 25 months. Matador CEO Deven Soni said the firm is “focused on increasing Bitcoin per share over time” and would “continue to target a treasury balance of 1,000 Bitcoin by the end of 2026.” Read more
Bitcoin has been a “monster in financial markets” even though it hasn’t hit the most optimistic 2025 price targets, says Anthony Pompliano. Bitcoin’s lack of an exciting year-end price rally may be the catalyst that prevents a significant crash in the first quarter of next year, according to Bitcoin entrepreneur Anthony Pompliano. “Given where the volatility is right now, it would be very surprising that Bitcoin’s volatility has drastically compressed and yet still could get a 70% or 80% drawdown,” Pompliano said during an interview on CNBC on Tuesday. Pompliano said the short-term disappointment from Bitcoin (BTC) holders over the asset not reaching $250,000 this year overlooks the broader performance. “We have to remember that Bitcoin is up 100% in two years. It’s up almost 300% in three years. It has been compounding,” he said. Read more
Former-FTX US president Brett Harrison’s Architect Financial Technologies secured $35 million to build an institutional trading platform spanning crypto, equities, and futures. Brett Harrison, the former president of the now-defunct FTX US exchange, has closed a $35 million funding round for his new derivatives venture, signaling renewed investor confidence in the sector and continued venture appetite for crypto-linked derivatives infrastructure. On Tuesday, The Information reported that Harrison’s startup, Architect Financial Technologies, is using the funding to build an institutional trading platform spanning derivatives, equities, futures and digital assets. Participants in the round included Miax, Tioga Capital, ARK Investment, Galaxy and VanEck. The new capital follows a $12 million funding round in 2024 backed by Coinbase Ventures, Circle Ventures, SALT Fund and other investors. Read more7246 items