Latest Crypto News | Bitcoin, Ethereum and Altcoin Updates

Franklin Templeton Digital Assets expanded its Franklin Crypto Index ETF beyond Bitcoin (BTC) and Ethereum (ETH) to include six additional tokens: Cardano (ADA), Chainlink (LINK), Dogecoin (DOGE), Solana (SOL), Stellar (XLM) and XRP. The change — disclosed via company posts on Dec. 2, 2025 and effective Dec. 1, 2025 — broadens the fund’s multi-asset exposure and diversification. The ETF will be rebalanced quarterly based on market conditions, performance and liquidity; authorized participants can create or redeem shares using crypto assets to improve tracking and liquidity during volatile periods. The move follows newly approved Cboe rules allowing broader crypto inclusion in index benchmarks and coincides with Franklin’s launch of a spot XRP ETF (ticker XRPZ) with a 0.19% fee. Traders should monitor flows, trading volumes, bid-ask spreads and rebalancing schedules: inclusion may shift liquidity profiles, create short-term volatility in added tokens and alter correlation and risk/return characteristics for the fund.

Options market activity shows professional traders increasing bearish exposure on Bitcoin, with concentrated put option bets at the $84,000 and $80,000 strikes and expiries in late December 2025. Analysts — including Nick Forster of Derive — note a sharp decline in options skew and rising demand for downside protection, suggesting heightened probability of BTC falling below $80,000 in Q1 2026. The report highlights that options positioning, short-term volatility exceeding long-term volatility, and concentrated strikes are used by sophisticated players for hedging or speculative correction bets. Traders are advised to monitor regulatory moves, ETF flows, macroeconomic conditions, institutional adoption, and on-chain metrics. Suggested risk-management steps include diversification, dollar-cost averaging, and aligning positions with individual risk tolerance. The article frames these options signals as meaningful but not definitive; market positioning can change quickly as new data arrives.

HTX Square has opened the “2025 BTC Year-End Price Prediction Season,” inviting users to predict Bitcoin’s price on December 31, 2025 (UTC) between December 1–15, 2025. Participants choose one of predefined ranges (above $100,000; $90,000–$100,000; below $90,000) and submit at least one sentence explaining their reasoning, using macro trends, on-chain data, liquidity, sentiment, or trading strategy. Ten winners will be selected for insightfulness and each will receive 20 USDT, drawing from a 200 USDT prize pool. The event aims to engage the community amid post-halving consolidation, fluctuating ETF momentum, and mixed macro signals as institutions rotate flows. The call-to-action encourages traders and analysts to forecast, discuss, and share market perspectives on Bitcoin’s year-end trajectory.

Ethereum (ETH) saw a sharp uptick in futures activity after its price dipped to around $2,800. Open interest in ETH futures rose by roughly $653.8 million (about +4.3%) following the drop, while 24-hour trading volume exceeded $23.8 billion. Analysts noted the Stochastic RSI on the weekly chart moving into a lower range, historically associated with bounces from oversold conditions. Commentators Maartunn and Michaël van de Poppe highlighted that traders are re-entering leverage positions and that ETH is holding support against BTC near 0.0315–0.0325 BTC, with the pair above its 50-day moving average. Technical watch points include resistance near $3,055 — a breakout could trigger bullish setups — and downside risk if support fails. Separately, a Hashed dashboard estimates ETH’s fair value near $4,869, implying significant upside versus the current price. Key takeaways for traders: elevated open interest signals renewed leverage and higher short-term volatility; oversold technicals suggest potential for a rebound; monitor $3,055 and the ETH/BTC support band for trade triggers and risk management.

Crypto markets slid as Japan’s sudden shift away from ultra-loose policy pushed Japanese government bond yields sharply higher and pressured the yen carry trade. The total crypto market cap fell about 5.3% to just above $3 trillion. Bitcoin dropped ~1.2% to $85,945 (roughly 30% below its early-October peak), Ethereum fell ~1.5% to $2,812, XRP eased 1.6% to $2.01 and BNB slipped 0.9% to $828. Liquidations totaled $536 million in 24 hours, mostly long positions; total open interest fell to roughly $124 billion and the market RSI sat near 36. The Crypto Fear & Greed Index is at 23 (extreme fear). Traders are watching the Bank of Japan’s mid-December meeting — guidance toward tighter policy could trigger further yen strength, additional margin calls and renewed selling across risk assets. A narrowing of the US–Japan rate gap (if the Fed cuts while the BoJ tightens) would extend pressure on crypto. Key keywords: BoJ, yen carry trade, Bitcoin, Ethereum, liquidations, market cap, risk-off.

Ethereum researcher Artem Chystiakov and community developers are advancing a proof-of-concept called Zero Knowledge Secret Santa (ZKSS) that uses zero-knowledge proofs and transaction relayers to enable private, randomized gift assignments on-chain. First posted on arXiv in January and discussed again on the Ethereum community forum, ZKSS addresses three core challenges for Secret Santa on Ethereum: preserving sender/receiver privacy, producing unpredictable randomness without on-chain bias, and preventing duplicate or self-assignments. The Solidity prototype has participants register addresses and commit to signatures, each contribute a secret random number via a relayer, and exchange encrypted delivery addresses; zero-knowledge proofs prove sender/receiver relationships without revealing identities. Proposed use cases extend beyond novelty games to privacy-preserving voting, DAO governance, whistleblower systems, and private token airdrops or allocations. Chystiakov said open-source implementations and deployments are in progress. Primary keywords: Ethereum, zero-knowledge, privacy, ZKSS, relayer. Secondary/semantic keywords: Secret Santa, zk-proofs, Solidity, on-chain randomness, DAO governance, private airdrop.

BitMine Immersion Technologies continued large-scale Ethereum accumulation, buying roughly 23,773 ETH (~$70M) across two buys over three days (7,080 ETH ≈ $19.8M and 16,693 ETH ≈ $50.1M). This follows an earlier tranche of 96,800 ETH (~$273M) and brings BitMine’s holdings to about 3.7 million ETH at an average cost near $3,008 — roughly 62% of its target to control 5% of total ETH supply. At current market prices the DAT is underwater. Separately, BitMine chairman Tom Lee revised his Bitcoin timing: a new BTC all‑time high now looks more likely by late January rather than end‑2025, contingent on equities recovering. Market commentators (eg. Arca CIO Jeff Dorman) point to supportive macro fundamentals for risk assets but note institutional on‑ramp and liquidity frictions that help explain the recent crypto pullback. Key takeaways for traders: sustained, large ETH purchases by a major digital asset treasury signal long‑term institutional conviction and constitute a structural demand source; however, near‑term price pressure remains because the position is currently underwater and liquidity/on‑ramp constraints may limit fresh buying. Traders should monitor DAT flows, BitMine’s buying cadence, funding rates and liquidity metrics, and macro indicators (equities performance, Fed policy) as potential catalysts for ETH price momentum.

Binance has completed integration of Goplus Security (GPS) on the BNB Smart Chain (BSC) and opened deposits and withdrawals for the token. The exchange announcement notes that users can now deposit and withdraw GPS on BSC, enabling trading and on-chain activity across Binance’s BSC infrastructure. The news is operational and does not include price, listing pair, or trading-launch details. The update is primarily infrastructure-focused, improving GPS accessibility on BSC and expanding on‑ramp/off‑ramp options for traders and holders.

XRP fell about 7% to $2.05 on Dec. 1 after heavy institutional selling overwhelmed spot ETF inflows and triggered a decisive breakdown below the short-term pivot at $2.16. The sell-off produced a 309.2M XRP volume spike (≈4.6× the rolling average), consistent with large-scale distribution and liquidation pressure rather than retail noise. Despite month-to-date spot ETF inflows of $666.6M and a roughly 45% decline in exchange supply over 60 days, derivatives unwinds and concentrated institutional exits pushed short-term flows bearish. Price has entered a descending channel with lower highs at $2.38, $2.30 and $2.22; multiple intraday recovery attempts failed. Traders repeatedly defended the $2.05–$2.00 zone, but a sustained failure at $2.05 would likely target the November demand band at $1.80–$1.87. Key levels to watch: reclaim of $2.12–$2.16 on strong volume to invalidate the bearish structure, and bullish divergence on hourly RSI/MACD as early reversal cues. Short-term tape remains bearish due to elevated volume and liquidation risk, while longer-term outlook depends on whether institutional selling exhausts and ETF-driven accumulation resumes.

Japan’s government and ruling coalition support a Financial Services Agency (FSA) proposal to replace the current progressive ‘miscellaneous income’ tax on crypto gains with a 20% flat tax, aligning crypto with stock and investment trust treatment. The FSA first proposed the change in mid-November and plans to submit a bill to amend the Financial Instruments and Exchange Act during the 2026 ordinary Diet session. Under current rules, crypto profits are taxed at progressive rates from 5% to 45% plus up to a 10% residential tax, producing effective rates as high as about 55% for high earners. A 20% flat rate would lower tax burdens for many retail and professional traders and could remove a major disincentive that has weighed on retail and institutional participation. The FSA’s package also includes tougher investor-protection measures — bans on trading on non-public information and stricter disclosure rules for crypto service providers — aimed at improving market confidence and regulatory parity across financial assets. The bill is expected to be introduced in the 2026 regular Diet session; industry lobbyists such as the Japan Blockchain Association (JBA) have long pushed for this change. Key SEO keywords: Japan crypto tax, 20% flat tax, Financial Services Agency, crypto regulation, investor protection.

A violent 24‑hour crypto futures liquidation event wiped out roughly $389 million in leveraged positions, overwhelmingly targeting long traders. Largest hits: BTC ~$258M (78.27% longs), ETH ~$112M (77.68% longs), SOL ~$19.45M (83.61% longs). Earlier reports estimated somewhat different totals but both indicate a one‑sided squeeze driven by crowded long exposure, rapid price drops that breached margin levels, and automated forced liquidations that amplified selling pressure. The episode highlights excessive leverage, concentrated positioning, and cascading stop‑loss triggers. Traders should reduce leverage, stagger entries, use strategic stop‑losses, monitor funding rates as a crowding signal, and consider non‑leveraged diversification. Large derivatives liquidations typically increase spot volatility, can reset leverage across the market, and may create short‑term buying opportunities once forced selling subsides. For traders, expect elevated intraday volatility in BTC, ETH and SOL, potential short squeezes or relief rallies, and continued caution among leveraged participants.

U.S. Treasury statements and resilient FX markets are undermining investor expectations that imminent Fed rate cuts will boost Bitcoin by lowering bond yields and weakening the dollar. Bitcoin bulls had anticipated rate cuts to reduce bond yields and support a weaker dollar — factors that often lift risk assets like BTC. Recent Treasury commentary and economic indicators, however, point away from near-term rate reductions, while the dollar remains relatively strong. Traders and analysts cited in the piece urge caution and recommend diversified strategies amid mixed signals. The article highlights elevated uncertainty for Bitcoin price direction, suggesting investors closely monitor macroeconomic releases, Treasury guidance and FX movements before adjusting positions.

Crypto exchange trading volumes fell sharply in November to about $1.6 trillion, the weakest monthly total since June, after a late‑2024 surge pushed activity above $3 trillion. Major centralized exchanges — including Binance, OKX, Coinbase, Bybit and Kraken — all reported lower monthly volumes. Decentralized exchange (DEX) activity declined as well: DeFiLlama shows daily DEX volume around $8.1 billion and a 30‑day total near $399 billion (about a 22% week‑over‑week drop). Daily DEX volumes have shifted from January–February spikes above $30–$50 billion to a recent range of roughly $5–$15 billion. Drivers cited include prolonged price choppiness, regulatory uncertainty, reduced institutional inflows and thinner liquidity, which raises the risk of sharper price swings on smaller trades. On‑chain metrics such as wallet growth, staking and some whale accumulation (notably BTC) remain steady, but without renewed trading activity these signals may not translate into immediate price gains. For traders, expect higher short‑term volatility and wider spreads from reduced liquidity; sustained recovery likely requires clear regulatory progress, renewed institutional flows or supportive macro catalysts.

A large entity dubbed “Big Brother” rebuilt and expanded a highly leveraged Ethereum (ETH) long after suffering a liquidation during a market pullback. Over a near two‑hour period the ETH 25x long grew to roughly $8.8 million, representing about 3,138.88 ETH with a liquidation price near $2,721. Following the earlier long liquidation, the trader deposited $250,000 into Hyperliquid and continued scaling exposure. The report highlights sustained demand for high‑leverage ETH futures and flags potential effects on short‑term liquidity and price discovery; traders should monitor margin requirements, risk controls, and exchange concentration where large leveraged positions can trigger cascades of liquidations.

Decentralized exchange Aster has moved its Stage 4 token buyback forward from December 10 to 1:10 a.m. UTC on December 2 in response to heightened market volatility. The accelerated buyback is intended to support ASTER holders by reducing circulating supply and providing a price floor during increased selling pressure. Aster emphasizes on-chain transparency: all repurchase transactions are publicly verifiable via blockchain explorers. The team frames the early buyback as a proactive tokenomics measure, deploying treasury capital to protect stakeholders and maintain ecosystem stability. While buybacks can alleviate short-term selling pressure and signal confidence, they do not guarantee price appreciation. The announcement reiterates that future stages depend on the project’s tokenomics roadmap and treasury strategy.

Cantor Fitzgerald disclosed a 58,000-share holding in the Volatility Shares Solana futures ETF (SOLZ), valued at about $1.28 million. The filing underscores growing institutional interest in gaining regulated Solana exposure via ETFs instead of direct token custody. SOLZ is futures-based, so holders face derivative-specific risks such as contango and backwardation and have only an indirect link to SOL spot prices. While the position is modest for a large institution, it is symbolically notable for validating alternative crypto assets and the ETF route. Traders should note this may indicate incremental institutional demand for Solana, potential liquidity improvements in SOL markets, and increased market and regulatory attention on futures-based crypto products. However, any direct impact on SOL’s spot price is likely limited and indirect; traders should monitor flows into Solana ETFs, derivatives term structure, and any moves toward spot Solana ETF approvals.

Bitcoin traders are shifting into defensive option positions that imply a notable probability of BTC trading below $80,000 at the start of 2026, according to Nick Forster, co-founder of derivatives desk Derive. Market data show concentrated put open interest around the $84,000 and $80,000 strikes, especially into the Dec. 26 expiry. BTC was trading near $87,000 at publication, about 30% below the Oct. 8 all-time high of $126,000. Forster warned the downtrend may not be over: short-dated volatility is higher than long-dated volatility, signaling traders expect outsized swings into the new year. Key figures: BTC price (~$87k), record high (~$126k), targeted strikes ($84k, $80k), expiry (Dec. 26). Primary keyword: Bitcoin; secondary keywords: BTC, options, puts, volatility, open interest. Implication for traders: increased put buying and elevated short-term volatility suggest hedging demand and higher downside risk into January 2026.

KuCoin’s local arm, KuCoin EU Exchange GmbH, has been granted a Markets in Crypto-Assets (MiCA) licence in Austria, authorising it to provide trading, custody and other digital-asset services across 29 European Economic Area (EEA) countries via MiCA’s passporting mechanism. The licence follows MiCA’s full effect in December 2024 and requires exchanges to meet capital adequacy, customer-asset segregation, disclosure and national regulator approvals. KuCoin says this approval is part of its wider compliance drive — the “$2 Billion Trust Project” — and points to recent controls and certifications including SOC 2 Type II, ISO 27001:2022, ISO 27701, Cryptocurrency Security Standard (CCSS) and third‑party proof‑of‑reserves audits. Under the change, most EEA users (except Malta) will be migrated to a MiCA-compliant KuCoin EU platform, and new registrations on KuCoin Global will be blocked in the region. The licence places KuCoin alongside other major exchanges that secured MiCA authorisation (Coinbase, Kraken, Bitstamp) and should broaden EU market access and institutional credibility. For traders, MiCA brings clearer disclosure, enhanced customer-asset protections and operational standards; KuCoin’s approval may shift regional user flows and competitive positioning and could influence institutional order flow into the exchange.

Cashu — a Chaumian ecash protocol for private, near-fee‑free Bitcoin payments — proposes integrating Cairo programs and STARK zero-knowledge proofs to enable arbitrary, privacy-preserving spend conditions on tokens. Currently Cashu supports limited conditions (P2PK, HTLC). The new "Cairo spend conditions" let a sender embed a program hash and output condition in a token; a spender must execute the compiled Cairo program and supply a STARK proof that the program produced an output matching the condition. To protect privacy further, Cashu suggests using a bootloader pattern so the mint only sees the bootloader bytecode while the actual program remains hidden. The proposal includes NUT specification and a TypeScript client-side proving library for browser-based proofs. Key takeaways for traders: this enhances Cashu’s flexibility for programmable token locks (custom signature schemes, policy checks, timelocks), preserves user privacy via zk proofs, and could broaden Cashu adoption among privacy-focused Bitcoin users and services. Short-term impacts are likely limited to protocol and developer interest; long-term effects include stronger private programmable payments and potential integration with Lightning and privacy tooling.

The White House announced a cabinet meeting at 11:30 AM EST with a formal statement from President Trump set for 2:00 PM EST. While not an immediate policy enactment, these scheduled remarks could set the near-term regulatory tone that affects market sentiment. Crypto traders should watch for comments on cryptocurrency regulation, custody standards and stablecoins, as any guidance or hints could influence liquidity, funding costs and institutional participation. The article recommends that traders rely on official statements rather than speculation and maintain disciplined risk controls around potential volatility tied to policy signals.

Canary, an institutional crypto custodian, reported that its proprietary trading vehicle “Titan” established record holdings of XRP amid surging demand for XRP spot ETFs. The report highlights a sharp increase in inflows tied to ETF filings and market anticipation, with Titan accumulating substantial XRP positions that outpaced prior holdings. Industry observers link the accumulation to renewed investor interest after regulatory clarity and multiple ETF applications, which have lifted XRP trading volumes and on‑chain activity. The development signals stronger institutional exposure to XRP, potentially amplifying price sensitivity to ETF-related news and inflows. Key details: institution (Canary), vehicle name (Titan), asset (XRP), driver (spot XRP ETF demand), outcome (record XRP holdings), market effects (higher volumes, increased institutional exposure). Primary keywords: XRP, XRP ETF, institutional demand. Secondary keywords: spot ETF, custodial accumulation, trading volumes, on‑chain activity.

Fund analyst Mark Newton — associated with Tom Lee — publicly signalled a dip-buy strategy for Ethereum, saying he is buying into the current pullback and expects a price recovery from now through mid-January to early February. Newton framed the window as high-risk, high-reward amid near-term volatility and argued disciplined entries are warranted. Tom Lee retweeted the message, reinforcing internal confidence in the near-term trajectory. COINOTAG noted Newton has a track record issuing Ethereum trend calls, though his September optimism did not always align with price action, underscoring the need for data-driven risk management. No specific price targets or position sizes were disclosed.

U.S. spot Bitcoin ETFs recorded a fourth consecutive day of net inflows on December 1, 2025, though the headline net was small (~$370k) due to offsetting large intra-fund movements, according to TraderT. BlackRock’s IBIT saw a significant $74.03m outflow while Fidelity’s FBTC received $67.02m and ARK Invest’s ARKB took in $7.38m; nine other U.S. spot Bitcoin ETFs reported no net activity. Earlier reporting (Farside Investors/COINOTAG) showed a different snapshot ($71.4m net inflow) with larger positive flows into Fidelity’s FBTC, ARK’s ARKB and Grayscale products, reflecting recurring rotation between issuers. Key takeaways for traders: sustained multi-day ETF inflows signal ongoing institutional demand and can underpin Bitcoin price support, but the distribution of flows is heterogeneous — large switches between funds (rebalancing or profit-taking) increase fund-specific liquidity and price sensitivity. Short-term price impact is limited given the small headline net on Dec 1, but continued steady inflows into regulated spot Bitcoin ETFs remain a constructive longer-term factor for BTC liquidity and floor formation. Traders should monitor issuer-specific flows (especially IBIT and FBTC), concentrate risk around funds with outsized moves, and watch whether inflows broaden or remain concentrated — a broadening would be more bullish for BTC price stability.

US spot Ethereum (ETH) exchange-traded funds recorded a sudden net outflow of $79.13 million on Dec. 1, ending a five-day inflow streak. Outflows were concentrated in Grayscale products: Grayscale’s Ethereum Trust (ETHE) saw $49.79M in redemptions and the Grayscale Ethereum Mini Trust had $20.28M leave. Fidelity’s Ethereum Fund (FETH) also experienced $31.62M of outflows. Partially offsetting these withdrawals, BlackRock’s iShares Ethereum Trust (ETHA) attracted $26.59M in net inflows. Earlier reporting had shown heavier monthly outflows (~$1.4B in November) from US-listed spot ETH ETFs as investors reduced exposure amid choppy markets; the Dec. 1 movement appears to reflect profit-taking and reallocation among major holders rather than a wholesale exit from ETH exposure. Traders should monitor ETF flows and provider-level rotation closely: single-day redemptions can create short-term sell pressure and affect ETH liquidity, while sustained patterns of inflows or outflows are likelier to drive near-term price direction. Relevant keywords: ETH ETFs, ETF flows, Grayscale, BlackRock, Fidelity, Ethereum price pressure.

Bitcoin bulls are facing resistance as the U.S. 10-year Treasury yield remains above 4% despite widespread expectations of Federal Reserve rate cuts. The Fed is expected to cut rates by 25 basis points at its Dec. 10 meeting, with some banks forecasting further easing into 2026. Normally, rate cuts lower bond yields and weaken the dollar, boosting risk assets including BTC. Instead, the 10-year yield has risen roughly 50 basis points since the Fed’s first cut in mid‑September 2024. Persistent fiscal debt concerns, heavy Treasury supply and sticky inflation expectations are keeping yields elevated. Rising Japanese Government Bond yields and renewed BOJ rate‑hike expectations are also removing a source of global downward pressure on yields. The dollar index has stopped its downtrend and has bounced around the 96–100 range, supported by U.S. economic resilience and markets pricing in easing. For traders, the key takeaways are: elevated real yields and a firmer dollar may cap bitcoin upside; traditional dovish Fed playbooks are less reliable; monitor 10‑year yield moves, dollar index levels (near 96–100), and Fed communications for triggers. Primary keywords: bitcoin, 10‑year Treasury yield, dollar index, Fed rate cuts. Secondary/semantic keywords: bond supply, fiscal debt, JGB yields, inflation expectations, risk assets.

The U.S. Securities and Exchange Commission (SEC) is scrutinising ALT5 Sigma, an investment entity tied to associates of former President Donald Trump, for alleged failures to comply with federal disclosure rules. The probe focuses on whether ALT5 Sigma properly reported information required of funds and investment advisers, including timely filings and accurate public disclosures. Regulators are assessing possible breaches of registration, reporting, and transparency obligations. While specific alleged misstatements or omissions were not detailed publicly, the inquiry elevates regulatory pressure on firms linked to high-profile political figures. The investigation could trigger fines, enforcement actions, or mandated corrective filings depending on findings. Market participants should monitor the SEC’s statements, any enforcement filings, and related disclosures from ALT5 Sigma and affiliated entities for potential legal and reputational fallout.

Cantor Fitzgerald disclosed Solana-related ETF holdings in its latest filing with the U.S. Securities and Exchange Commission. The filing lists positions tied to Solana exposure, including allocations to a Solana spot ETF product and related instruments. The disclosure provides clarity on the firm’s institutional appetite for Solana (SOL) through ETF vehicles and may reflect growing institutional adoption of Solana-based products. Key points: Cantor Fitzgerald — institutional broker-dealer — reported holdings linked to a Solana ETF in its SEC submission; the filing quantifies the firm’s exposure (specific percentages and dollar amounts were included in the original filing); holdings cover spot-ETF shares and related instruments used for client or inventory purposes. For traders, the filing signals institutional involvement in Solana ETF flows, which can affect SOL liquidity and price sensitivity around ETF creation/redemption activity. Primary keywords: Solana, Solana ETF, Cantor Fitzgerald, SEC filing, SOL. Secondary/semantic keywords: institutional holdings, spot ETF, ETF flows, liquidity, trading impact.

YZi Labs, an investment vehicle linked to Binance founder Changpeng Zhao, has filed to replace the board of CEA Industries (BNC) and annul recent bylaw changes, seeking to expand the board and elect its nominees. YZi says these steps are needed to halt “continued destruction of stockholder value.” The group previously helped finance CEA’s $500m PIPE in August and accused CEA management — including CEO David Namdar and several 10X Capital executives — of poor investor communications, weak marketing and potential conflicts of interest. CEA reports holding 515,054 BNB purchased at an average cost of $851.29, yielding a market net asset value (mNAV) of roughly 0.79x; BNB trades near a three‑month low (~$829) after losing nearly 40% from its mid‑October high but remains up year‑to‑date. CEA’s shares have plunged about 89% from a July peak of $57.59 to $6.47, and the stock fell more than 10% on the day YZi filed. If successful, YZi — linked to CZ — could gain control of a major public BNB treasury vehicle. Traders should monitor upcoming proxy filings, shareholder votes, any changes to CEA’s BNB holdings or disposition strategy, and company communications: these events are likely to drive volatility in CEA equity and could affect BNB spot and derivative markets.

Hyperliquid (via HIP‑3) now supports Pre‑IPO perpetual contracts deployed by Ventuals, referencing private companies including OpenAI, SpaceX and Anthropic. These are non‑deliverable synthetic perpetuals with up to 3x leverage intended to create secondary liquidity and price discovery for illiquid private equity. Hyperliquid raised the Open Interest cap on the OpenAI perp from $1M to $3M. Under HIP‑3, deployers must stake 500,000 HYPE and face stake penalties to deter oracle manipulation; deployers can earn up to a 50% fee share. Early trading shows modest volume and limited price movement — evidence of demand but constrained liquidity. Key trader risks are oracle reliability for continuous price feeds, limited on‑chain liquidity and unproven risk controls in low‑liquidity markets. Regulatory boundaries remain unclear: U.S. CFTC innovation exemptions and EU MiCA’s focus on spot trading leave some room for non‑physical‑settlement perpetuals, but enforcement risk persists. Market implications: the move accelerates PerpDEX competition to capture new user flow and RWA‑like products; if these perpetuals scale, liquidity could shift between crypto native assets and tokenized real‑world assets. Traders should monitor open interest, funding rates, oracle feeds, HIP‑3 deployment activity and liquidity depth as primary signals of flow, volatility and execution risk.