Latest Crypto News | Bitcoin, Ethereum and Altcoin Updates

New analysis shows increased issuance of major stablecoins (USDT, USDC) has not produced upward momentum for Bitcoin or Ethereum. Much of newly minted stablecoin liquidity is flowing into derivatives platforms for leveraged trading, into DeFi protocols for yields, or being held as dollar-like savings and remittances — not into spot crypto purchases. Investor sentiment is the decisive factor: in risk-off conditions holders keep ‘dry powder’ rather than deploy it, so higher stablecoin supply signals potential liquidity but not guaranteed buying pressure. Traders should monitor on-chain flows (net inflows to spot exchange wallets), derivatives positioning, and spot volumes to detect when stablecoins are being converted into market buying. Key SEO keywords: stablecoin issuance, USDT, USDC, crypto market, stablecoin flows.

Zcash developer group Shielded Labs has proposed a multi-phase dynamic fee plan to replace the network’s long-standing fixed fee system and curb rising transaction costs and congestion. The proposal builds on ZIP-317’s action-based accounting and introduces a median-based “comparable” fee computed from the median fee per action across the previous 50 blocks. Fees are bucketed into powers of ten (e.g., round down to 10,000 zatoshi or up to 100,000 zatoshi), and a temporary priority lane can open at 10x the standard fee during high-stress periods. The change aims to reduce spam (“sandblasting”), lower costs for large batched shielding transactions, and prevent users from being priced out — community polls indicate >20% of traders feel fees are currently too high. The announcement coincides with heightened U.S. regulatory attention on privacy tech, including an SEC roundtable on surveillance, privacy and AML scheduled for December 15, and recent prosecutions and convictions related to privacy-focused tools. For traders, the proposal could lower transaction friction and improve network throughput if adopted, while regulatory scrutiny of privacy coins may remain an independent risk factor.

CEOs from Citigroup, Wells Fargo and Bank of America will meet both Republican and Democratic US senators this week to discuss the crypto market-structure bill (commonly called the CLARITY Act). Scheduled meetings aim to provide bank perspectives on GSIB market-structure priorities, bank permissibility, interest payments on crypto products, and illicit finance risks. The meetings come after passage of the GENIUS Act and amid delays to the CLARITY Act caused by a recent government shutdown and congressional disagreements. Key legislative hurdles include committee jurisdiction split between the Senate Banking Committee (securities) and the Agriculture Committee (commodities), outstanding language on ethics and quorum, and demands from some senators for conflict-of-interest provisions related to the President’s family. The scope of the bill — especially whether developers, validators and other noncustodial participants are treated as intermediaries — remains contested. A tentative Senate Banking Committee markup was reported for mid-December, but timing and content are uncertain. Traders should note increased policy risk and potential regulatory reclassification that could affect centralized exchanges, stablecoin yields, DeFi projects and bank custody offerings.

The U.S. Commodity Futures Trading Commission (CFTC) has launched a supervised pilot program and issued guidance permitting tokenized collateral — including Bitcoin (BTC), Ether (ETH), USDC and certain tokenized real-world assets (RWAs) — to be used in CFTC-regulated derivatives markets. The commission withdrew Staff Advisory 20-34 that previously limited FCMs from accepting crypto collateral and emphasized a technology-neutral approach to collateral rules. Participants must operate under direct CFTC oversight, provide weekly reporting on customer-held assets, and disclose operational incidents to test custody, settlement, margining and resilience. Industry leaders welcomed the move, citing faster settlement, improved capital efficiency, and reduced clearing and liquidity risks outside trading hours. The pilot aims to evaluate operational risks, market impacts and integration pathways for banks and large asset managers while strengthening the role of regulated stablecoins and tokenized Treasuries in USD-based markets. Traders should watch liquidity, settlement windows, and any operational disclosures from pilot participants, as these developments may affect margin models, intraday funding flows and short-term volatility for BTC, ETH and stablecoins.

Poland’s President Karol Nawrocki vetoed the proposed “Crypto-Asset Market Act,” arguing the bill granted overly broad powers that could undermine civil liberties, property rights and economic stability. The law — approved by the Sejm in September and intended to align Poland with the EU’s MiCA framework — would have allowed authorities to block or disable cryptocurrency-related websites, imposed high regulatory fees, and created complex, wide-ranging oversight measures. Nawrocki warned the provisions risked abuse, stifling legitimate businesses and pushing startups abroad to more favourable EU jurisdictions such as the Czech Republic, Lithuania or Malta. Ruling coalition officials defended the bill as necessary for consumer protection and warned that without a designated supervisor required by MiCA, Polish firms might be unable to register domestically after July 1, 2026, potentially triggering an industry exodus and loss of tax revenue. Reactions were mixed: some crypto advocates and opposition figures praised the veto as protective of the domestic market, while others argued the legislation would have clarified a fragmented sector. The veto sets up a political standoff with implications for Poland’s regulatory approach ahead of the EU-wide MiCA rules taking effect in mid-2026.

XRP posted a reported 650% move from cycle lows in 2025 driven by concentrated whale accumulation, tighter exchange reserves, improved on-chain liquidity and increased ETF and derivatives flows. Analyst Zach Rector argues the surge demonstrates how large price moves can occur before regulatory clarity — specifically the proposed US CLARITY Act, which seeks to define digital asset classifications and registration pathways. Institutional participation remains constrained by legal uncertainty; clearer rules would likely unlock custody, tokenized products and larger capital inflows. Traders should monitor progress on the CLARITY Act, institutional adoption announcements, exchange reserve trends and on-chain accumulation metrics. Key takeaways: XRP’s sharp volatility was supported by deeper order books and market-maker activity, retail demand followed whale-led accumulation, and regulatory clarity could amplify a future leg up. This is informational and not financial advice.

Australia’s financial regulator, the Australian Securities and Investments Commission (ASIC), has issued temporary relief clarifying treatment of certain stablecoins and wrapped tokens. The interim guidance exempts qualifying intermediaries—mainly crypto exchanges and digital wallet providers—from some financial services licensing requirements and allows them to hold customer funds in omnibus accounts. The relief aims to preserve operational continuity for exchanges and custodians that custody or facilitate transactions in fiat‑backed and algorithmic stablecoins while the government finalises a new licensing and custody framework for crypto-asset service providers. Key trader impacts: lower short‑term compliance costs, potential operational efficiencies from pooled custody, and reduced risk of abrupt service disruptions that could affect stablecoin liquidity. Conditions include time limits on the relief, continuing AML/CTF obligations, and required internal controls to protect client assets in omnibus arrangements. Traders should monitor forthcoming parliamentary legislation for permanent rules and watch for firm-level changes (expanded onshore custody, modified risk controls) that could influence onshore liquidity and execution capacity for stablecoin trading. Primary keywords: stablecoin regulation, ASIC, omnibus accounts, crypto exchanges, regulatory clarity.

BlockchainFX (BFX) has raised over $11.96 million in its presale, drawing investor attention with a 30% bonus code (BLOCK30), a claimed AOFA international trading license, and a multi-asset Web3 trading hub model that shares up to 70% of trading fees with holders. The presale price is $0.03 with a projected launch price of $0.05; promoters highlight high upside scenarios if BFX reaches $1 or higher. Meanwhile, MicroStrategy bought 10,624 BTC (~$1 billion), bringing its holdings above 660,000 BTC after issuing 5.1 million new shares to partially fund the purchase. Aster (ASTER) is attempting a recovery after a >60% drop by accelerating a buyback program from $3M to $4M per day; data suggests a potential short squeeze if ASTER reaches roughly $1.07. The article is a paid press release and not investment advice. Key figures: $11.96M presale for BFX, presale price $0.03, BLOCK30 30% bonus, MicroStrategy 10,624 BTC (~$1B), Aster buybacks $3M→$4M/day. Primary keywords: BlockchainFX, BFX presale, Bitcoin (BTC) purchase, MicroStrategy, Aster (ASTER), token buyback, presale bonus. Relevance for traders: watch BFX liquidity and listing risk, monitor Bitcoin institutional accumulation for market direction, and watch ASTER for short-covering volatility.

The Federal Reserve is widely expected to deliver a 25 basis-point rate cut at the FOMC meeting on December 10, marking the third cut of 2025. Cooler inflation data—notably the U.S. PCE report—plus commentary from former Fed official Kevin Hassett have pushed markets to price roughly a 90% probability of a cut. The Fed will also publish updated economic projections and Fed Chair Jerome Powell’s post-meeting remarks will be watched for guidance on 2026 policy. Crypto markets, led by Bitcoin, have already reacted: BTC briefly traded above $90,000 as traders anticipated cheaper borrowing costs and greater risk appetite. Analysts warn the cut is largely priced in, so a dovish dot plot and guidance could further boost liquidity and trigger short squeezes, while a “hawkish cut” or an unexpected pause could prompt risk-off flows and sharp corrections. Historical FOMC moves have led to large short-term BTC swings (examples cited: ~19% and ~25% drops after prior meetings). Traders should prepare for heightened volatility around Dec. 10, monitor Powell’s tone and the dot plot closely, and size positions for potential abrupt moves — dovish outcomes may offer buy-the-dip opportunities, while any deviation from expectations could produce rapid downside and liquidation risk.

The U.S. Commodity Futures Trading Commission (CFTC), led by Acting Chair Caroline D. Pham, has launched a Digital Asset Pilot Program permitting qualified Futures Commission Merchants (FCMs) to accept Bitcoin (BTC), Ether (ETH) and payment stablecoins such as USDC as margin for futures and swap contracts. The program is limited to FCMs that meet strict custody, valuation, risk‑management and operational standards. Key controls include conservative haircutting, weekly public reporting of digital‑asset holdings during the initial three months, prompt notification of outages or material incidents, and a no‑action position allowing specified digital assets in customer‑segregated accounts under tight safeguards. The CFTC also rescinded its 2020 staff advisory that discouraged crypto collateral and issued guidance on tokenized real‑world assets; the move follows regulatory shifts including the GENIUS Act on stablecoin backing. Market participants — including exchanges and issuers — broadly welcomed the clarity, though adoption will be phased as FCMs build custody, compliance and valuation systems. For traders: BTC, ETH and USDC are now approved as margin in a controlled U.S. pilot, which could improve capital efficiency and domestic derivatives liquidity over time, but immediate market impact may be limited by conservative risk controls and gradual rollout.

Tech leaders and analysts estimate artificial intelligence-powered coding tools could unlock as much as $3 trillion in annual economic value by automating software development tasks, accelerating time-to-market, and enabling new product classes. Major cloud providers, developer-tool vendors and chip makers are investing heavily in generative AI models, code assistants and specialized silicon to serve enterprises seeking faster application delivery and lower development costs. Key drivers include: improved developer productivity from AI-assisted coding, reduced QA and maintenance costs, and increased software-driven monetization across industries. Analysts highlight risks: model inaccuracies, security and IP concerns, and the need for developer workflow integration. Large enterprise adoption timelines vary; near-term benefits are productivity gains and faster prototyping, while full-scale transformation may take several years as tooling matures and governance improves. The article cites estimates and commentary from industry analysts and executives (unnamed) rather than specific company earnings figures.

Shiba Inu (SHIB) trades in a narrow band between $0.0000075 (support) and $0.0000095 (resistance), roughly 90% below its all-time high. On-chain metrics show a notable surge in whale activity: over 400 transactions above $100,000 in a day and about 1.06 trillion SHIB moved to exchanges, driving rising exchange balances. Daily volume sits in the low hundreds of millions, enough to move markets. Burn activity has jumped — up to 200% on some days — coinciding with renewed Shibarium and on-chain usage, though user activity remains fragile. Two scenarios exist: a bullish breakout if SHIB closes above $0.0000095 on rising volume, targeting $0.000011–$0.0000125; or a bearish distribution if whales sell into strength, pushing price back toward $0.0000070 or lower. Key trading signals: watch for sustained daily closes above $0.0000095 with increasing volume (bullish) or continued large deposits to exchanges and failure at resistance (bearish).

Top whales on Hyperliquid have shifted from very bearish to only slightly bearish as crypto liquidations plunged during market consolidation. CoinGlass data shows wallets sized $1M–$50M+ now hold roughly $2.14B in longs vs. $2.43B in shorts, narrowing the bearish gap. Smaller wallets (300k+ addresses) remain strongly bullish. Total crypto liquidations fell about 57% to $208M, indicating reduced speculative pressure. Notable on-chain moves include a Hyperliquid whale (address “1011short”) increasing an ETH long to ~67,104 ETH (~$210M), sitting on about $4M unrealized profit with a liquidation price near $2,069. Strategy, a major Bitcoin treasury firm, bought 10,624 BTC on Dec 8 and its CEO pledged not to sell until 2065 — a purchase that, together with waning whale bearishness, has eased market pessimism. Traders are now awaiting macro catalysts (notably the US CPI report) that could reignite volatility. Key takeaways for traders: reduced liquidations often mean lower immediate forced selling and narrower price swings, whale position shifts can increase volatility in small-cap altcoins, and large institutional buys (Strategy’s BTC purchase) provide supportive demand. Primary keywords: Hyperliquid, whales, liquidations, Strategy, BTC, ETH, CPI.

Shiba Inu (SHIB) experienced a major spike in whale activity on Dec. 8–9, with Santiment reporting 406 large transfers (> $100,000) — the highest daily count since June 2025 — and about 1.06 trillion SHIB moved into centralized exchanges within 24 hours. Exchange-held SHIB now stands near 136.95 trillion tokens. This on-chain inflow follows earlier large outflows from Coinbase (Arkham data) — roughly 169 billion SHIB last week and two withdrawals totaling ~4.13 trillion SHIB to new wallets — and came after a recent Shibarium Layer‑2 exploit that preceded notable token movements. Despite the inflows, SHIB traded modestly higher (around $0.00000858; ~1.8% intraday) with 24‑hour volume rising about 13% (~$114M). Analysts note SHIB is sitting at a long-term support zone (~$0.0000080–$0.0000060) that historically preceded large rebounds; proponents point to past multi‑hundred percent recoveries from similar levels. Key trader takeaways: the large exchange inflows increase short‑term sell‑pressure risk and volatility, but higher exchange supply and renewed liquidity can also enable larger market orders and rapid rebounds if demand absorbs sell-side supply. Traders should monitor exchange balances, whale transfers, burn-rate trends, and short‑term order-book liquidity to gauge whether inflows convert to sell pressure or are redistributed to nonexchange wallets.

HashKey Group, Hong Kong’s largest licensed crypto exchange, has launched an IPO in Hong Kong targeting up to HK$1.67 billion (~US$215 million). The offering comprises 240.6 million shares at HK$0.76–0.89 each, implying a top-range valuation near US$2.46 billion and a planned Hong Kong Stock Exchange listing on Dec. 17. Founded in 2018 and fully operating after 2023 regulatory approvals, HashKey reports roughly 75% market share in Hong Kong, US$167 billion cumulative spot trading volume through Sept. 30, 2024, and about US$1 billion assets under management. Services include spot and OTC trading, staking, tokenization and HashKey Chain (an Ethereum layer-2 focused on RWAs, stablecoins and dApps). IPO proceeds will fund technology and infrastructure, ecosystem expansion and partnerships, operational risk management and hiring. Underwriters include JPMorgan and Guotai Junan; investors can subscribe via Hong Kong eIPO White Form and HKEX FINI. The listing comes amid a robust Hong Kong IPO market, supporting the city’s push to become a regional digital-asset hub. Primary SEO keywords: HashKey IPO, Hong Kong crypto IPO, crypto exchange listing.

The U.S. Commodity Futures Trading Commission (CFTC) launched a pilot allowing certain digital assets — notably Bitcoin (BTC), Ethereum (ETH) and USDC — to be used as collateral in regulated derivatives markets. Acting Chairman Caroline D. Pham also issued updated guidance on tokenized collateral and removed outdated GENIUS Act rules, part of the agency’s broader ‘Crypto Sprint’ to modernize regulation and support market integrity. The pilot aims to reduce regulatory uncertainty, encourage institutional participation, and mitigate volatility concerns by including stablecoins. Separately, Harvard University increased its Bitcoin exposure in Q3 to about $443 million — roughly four times prior allocations and about twice its gold ETF holding of $235 million — signalling institutional confidence in BTC as an inflation hedge. Analysts say the combined regulatory move and Harvard’s portfolio shift could spur wider institutional adoption of cryptocurrencies and expand derivatives liquidity, with traders watching for changes in margining, liquidity and volatility dynamics.

Crypto.com and digital-asset issuer 21Shares have partnered to launch regulated investment vehicles for Cronos (CRO), including a CRO private trust and a potential exchange-traded fund (ETF). The products are designed to give institutional and retail investors regulated, transparent and compliant exposure to CRO, reducing custody and compliance friction for traditional financial firms. 21Shares will provide product structuring and regulatory expertise while Crypto.com supplies ecosystem support and liquidity. The later report adds market context: CRO traded near $0.10–$0.11 on Dec. 9, 2025, with technical resistance around $0.12 and a bullish target near $0.20, while a fall below $0.09 would indicate downside risk. The articles note Crypto.com’s recent high-profile Cronos initiatives — such as the reported $6.4 billion Cronos Treasury deal with Trump Media Group — and argue that regulated products, combined with increased stablecoin use, DeFi lending, staking and tokenization of real-world assets (RWA), could boost liquidity, on-chain activity and value accrual for CRO. For traders, the new offerings remove a regulatory barrier that may attract institutional flows into CRO; watch for volume and custody inflows as early signals, and monitor the $0.12 resistance and $0.09 support levels for near-term risk management.

The European Commission plans to begin implementing Capital Markets Union (CMU) reforms by 2027 that would centralise supervisory authority at the European Securities and Markets Authority (ESMA). The package—subject to approval by the European Parliament and EU Council—would bring systemically important clearinghouses, central securities depositories and trading venues under ESMA and explicitly extend ESMA oversight to cryptocurrency firms. Backers argue the reforms will reduce fragmentation in EU capital markets, streamline cross-border financing and strengthen risk management. Some member states oppose parts of the proposal, meaning the final timeline and scope remain politically dependent. The EU also plans a comprehensive review of bank regulatory rules and expects the European Central Bank to propose simplifications to bank supervision that will feed into the broader reform. For crypto traders, the key implications are increased regulatory scrutiny, potential new compliance requirements for crypto firms operating in the bloc, and a likely shift toward harmonised rules that could affect trading infrastructure, custody, and counterparty risk across EU markets. Primary keywords: ESMA, Capital Markets Union, cryptocurrency oversight. Secondary/semantic keywords: market integration, clearinghouses, central securities depositories, cross-border financing, bank supervision.

SGX’s Bitcoin and Ethereum perpetual futures recorded roughly $250 million in combined turnover within about two weeks of launch, according to COINOTAG citing CoinDesk. SGX President Michael Syn said the products appear to be bringing new liquidity to the market rather than diverting it from other venues. Early usage patterns indicate institutional participants are primarily using the contracts for spot–futures arbitrage and hedging rather than directional longing. Traders report potential benefits for price discovery and improved hedging efficiency across crypto derivatives. The development underscores demand for regulated crypto derivatives among institutions and may enhance cross-venue arbitrage flows.

Grayscale has received Federal Register approval to convert its Chainlink Trust into the first U.S.-listed Chainlink ETF, set to begin trading on NYSE Arca this week. The move provides regulated, institutional and retail access to Chainlink (LINK) — a leading oracle protocol used to feed real-world data into smart contracts — without direct token custody. The approval signals growing institutional interest in crypto infrastructure beyond Bitcoin and Ethereum. Market data and technical analysis show LINK remains under selling pressure. Analysts (cited: GainMuse) report LINK is trading inside a descending channel, forming lower highs and failing to sustain recent bounces. Critical support is identified at about $10.5–$11.0; price near $12.68 faces repeated rejections. A decisive breakout above the channel’s resistance would be needed to reverse the downtrend; until then bearish dynamics dominate. Traders should watch ETF launch flows, institutional demand, and the $10.5–$11.0 support and descending resistance levels for near-term direction.

Bitcoin (BTC) attempted to break above a multi-month downtrend but was rejected and pushed back below the trendline, extending the prevailing corrective move. Shorter timeframes show an ascending channel that may offer support and guide a renewed bullish attempt; however, a strong rejection could send BTC back to the major ascending trendline and into the lower portion of the large falling wedge. Daily and weekly charts highlight that BTC is trading inside a large falling wedge — the third sizable bullish structure this cycle after a long bull flag and a prior wedge. Momentum indicators (RSI rising from lows; MACD lines flattening and histogram shrinking) suggest weakening downside pressure and the potential for a bullish breakout, though the author notes the possibility of a significant breakdown if BTC breaches the main trendline. Traders should watch the downtrend resistance, the ascending channel support, the major ascending trendline, and momentum signals for confirmation. Key SEO keywords: Bitcoin, BTC breakout, falling wedge, downtrend rejection, RSI, MACD. This is informational only and not investment advice.

Zcash (ZEC) has rebounded sharply from ~ $300 lows to trade above $425, gaining about 41.5% in a week and 10.3% in 24 hours. Analysts point to a potential double-bottom pattern around $300–$310 with a neckline breakout near $380, implying a measured upside target in the $480–$500 range. On-chain data show retail and mid-size holders reduced ~ $30 million in net exposure while whale wallets ($100k–$10M) added over $100 million, indicating institutional accumulation that supports further upside. Offsetting bullish signals, ZEC’s move has formed a bear-flag (rising channel) that historically resolves downward; price has struggled to clear the 200-period 4H EMA and the RSI is in overbought territory (>70). A breakdown from the flag could send ZEC toward $260–$280, roughly 35% below current levels. Traders should weigh bullish pattern and whale accumulation against technical resistance and overbought momentum; the article does not constitute investment advice.

Bybit, the world’s second-largest crypto exchange by volume, has launched Boost Battle, an eight-week competitive trading event running now through February 1, 2026. Each week traders register and accumulate points by trading non-zero-fee Spot or Futures pairs; weekly leaderboards award the top trader a grand prize of 10,000 USDT. The event highlights weekly “boosted tokens” that grant extra points and offers Lucky Draw tickets to traders who reach 10,000 USDT in daily trading volume on Spot or Futures. Boost Battle emphasizes simple entry (register and trade), aims to drive sustained trading momentum, and rewards consistent activity. Full terms, eligibility restrictions, and prize details are available on the event page.

Hacken has published an independent Proof of Reserves (PoR) audit for crypto exchange MEXC, completed on November 26, 2025, confirming the exchange holds sufficient on-chain assets to fully cover user liabilities. The audit validated operational control of wallets and found reserve coverage ratios for major assets (including BTC, ETH, USDT, USDC) consistently above 100%. Hacken’s review used industry-standard methods—Proof of Liabilities, Proof of Ownership, Merkle-tree verification and reserve sufficiency calculations—and examined reserve wallets across multiple chains (Bitcoin, Ethereum, Solana, TON, Tron, BNB Chain, Arbitrum, Optimism, Avalanche-C, Base, Polygon, Aptos, Sui). The report includes wallet addresses, balances, and asset distribution, and notes outbound-transaction checks and integrity validation of the Merkle tree. MEXC says PoR audits are now continuous practice and aims to strengthen transparency, asset segregation and real-time fund accessibility. Hacken concluded MEXC is fully solvent, accounting for off-exchange obligations, and highlighted robust reserve management and diversified holdings. The audit reinforces MEXC’s positioning on transparency and may serve as a benchmark for verified reserve practices in the industry.

Libeara, a fintech platform backed by Standard Chartered, has launched a tokenized gold fund in Singapore. The fund allows investors to buy digital tokens representing physical gold holdings, aiming to combine traditional bullion investment with blockchain-based tokenization for improved liquidity and accessibility. The product targets institutional and retail investors seeking exposure to gold without direct custody, and leverages Singapore’s regulatory and financial infrastructure. Standard Chartered’s backing provides credibility and may help adoption among banks and wealth managers. The launch reflects growing interest in tokenized assets as a bridge between traditional finance and crypto, potentially offering lower transaction costs, faster settlement, and 24/7 trading. Key themes: tokenized gold, asset tokenization, Standard Chartered, Singapore, digital gold tokens.

Shiba Inu (SHIB) faces a critical 3–4 day window that could determine whether the token breaks out of a months-long downtrend or falls into another leg of weakness. On-chain data shows a +1.06 trillion net increase in SHIB on exchanges in a single day and the highest number of whale transactions since June 6, signaling major-holder activity. Price action is consolidating just below the 50- and 100-day moving averages, which have repeatedly acted as rejection zones; a firm close above them would shift the medium-term structure bullish. Short-term indicators show tighter consolidation, a rising RSI from the mid-40s and failed attempts by sellers to make new lows — patterns consistent with an imminent volatility expansion. Traders should watch high-value transfers (406+ transactions over $100,000) and continued exchange inflows as potential triggers for a sharp move. The article recommends vigilance over the coming days: a breakout above the moving averages could accelerate a recovery rally, while persistent inflows to exchanges and renewed rejection would likely cause a downside flush.

MicroStrategy CEO Michael Saylor announced the company will not issue perpetual preferred stock in Japan for at least 12 months, granting Japanese firm Metaplanet a first-mover window. Perpetual preferred stock is a hybrid equity instrument that pays fixed dividends indefinitely and can raise non-dilutive capital to fund Bitcoin purchases. Saylor framed the pause as a strategic decision to observe market reception and regulatory nuances, prioritize core U.S. operations and Bitcoin accumulation, and potentially foster future partnership opportunities. Japan already has five such products and Metaplanet plans to launch two more. For traders, this pause affects capital-raising avenues for MicroStrategy — which uses perpetual preferred stock to finance Bitcoin accumulation — and reduces immediate competitive pressure in Japan. The move signals a measured, multi-year corporate strategy rather than a withdrawal, underscoring how Bitcoin-focused firms manage funding instruments and market entry timing.

Russia will introduce criminal liability for illegal cryptocurrency mining and administrative penalties for lesser violations as part of a broader effort to regulate digital currency circulation and curb energy theft. Deputy Prime Minister Alexander Novak announced the plan, saying the government will legally regulate digital currency turnover and increase penalties for illegal mining and unlawful consumer lending. The move follows 2024 legislation that first regulated mining: legal entities and individual entrepreneurs must register with the Federal Tax Service (FNS), while private citizens may mine without registration if electricity use stays below 6,000 kWh/month. Fewer than one-third of mining enterprises have registered so far. Authorities have blamed both licensed and unlicensed miners for local power shortages; regional bans and coordinated raids involving utilities, police and the FSB have targeted illegal farms. Enforcement now uses smart meters, telecom traffic analysis and thermal‑camera drones; operators have responded with mobile farms and hidden setups in abandoned buildings. The Central Bank is separately tightening bank-account rules by linking accounts to personal tax numbers to reduce money‑mule fraud involving crypto. Traders should note the regulatory tightening in Russia may reduce unauthorized mining capacity, affect local electricity demand, and influence BTC miner supply dynamics and regional risk premiums.

Singapore Exchange (SGX) launched Bitcoin (BTC) and Ethereum (ETH) perpetual futures two weeks ago and is reporting rising volumes and institutional uptake. SGX says the contracts are bringing new liquidity into crypto markets rather than merely shifting capital between venues, with about $250m cumulative notional and daily lots increasing since launch. Institutional participants — hedge funds, crypto-native desks and brokers — are using the regulated perps mainly for basis (cash-and-carry) strategies: buying spot or ETFs and hedging with short perpetual positions rather than taking outright leveraged longs. SGX positions the products as an Asian-time-zone benchmark and stresses stricter risk controls compared with unregulated venues, including higher initial margins, conservative collateral and central clearing to reduce cascading liquidations and counterparty risk. For traders, expect tighter spreads and improved price discovery during Asian hours, plus potential arbitrage and basis-trading opportunities between SGX and other venues. SGX says it will prioritise building liquidity and trust in BTC and ETH perps before considering options, altcoin perps or broader TradFi integrations.