Latest Crypto News | Bitcoin, Ethereum and Altcoin Updates

YouTube is enabling eligible creators in supported regions to receive payouts and tips in PayPal USD (PYUSD), a US dollar‑pegged stablecoin issued by Paxos and distributed by PayPal. The feature covers monetization tools such as Super Thanks, Super Chat and channel memberships where YouTube’s payment infrastructure and local regulations allow. Rolling out via PayPal’s Hyperwallet integration with Google’s payments stack, the change may require creators to use compatible wallets or custodial services and applies only to qualifying creators and specific products. For traders, this increases on‑chain utility and potential on‑ramp demand for PYUSD. Key things to monitor: PYUSD liquidity, exchange volumes, on‑chain flows (inflows/outflows from exchanges and wallets), regional rollout pace, and any changes in custody or KYC requirements that affect conversion to fiat. Short term, watch for spikes in PYUSD trading volume and exchange listings; longer term, broader adoption by platforms could raise stablecoin settlement use but is unlikely to materially change PYUSD peg dynamics absent regulatory or large net outflows.

Do Kwon, co-founder of Terraform Labs and architect of the Terra ecosystem, was convicted following court presentations that included harrowing victim letters detailing losses from the May 2022 collapse of TerraUSD (UST) and LUNA. Prosecutors argued Kwon misled investors and partners, contributing to market manipulation and severe investor harm. The letters shifted courtroom focus to the human cost of the collapse. The conviction reinforces scrutiny of algorithmic stablecoins and centralized project governance and underscores rising legal and regulatory risks for crypto founders and related projects. For traders, this increases negative sentiment and volatility for algorithmic stablecoins and tokens tied to opaque governance, potentially amplifying sell pressure and risk premia on similar assets.

The U.S. Commodity Futures Trading Commission (CFTC) has launched a limited pilot allowing Bitcoin (BTC), Ether (ETH) and USDC to be accepted as in-kind collateral by CFTC-registered Futures Commission Merchants (FCMs) for like‑denominated contracts. Announced by acting chair Caroline Pham, the program includes enhanced guidance on custody, segregation, enforceability, valuation and operational risk for tokenized assets and requires participating FCMs to submit weekly reports detailing customer digital-asset holdings and events affecting collateral use. The initiative aims to give regulators and market participants controlled experience using crypto as margin while addressing risks seen in unregulated venues (excess leverage, rapid auto-liquidations). It also withdraws prior Staff Advisory 20‑34 and aligns with broader legislative and advisory work to integrate tokenized real‑world assets—such as treasuries, stablecoins and money‑market funds—into regulated markets. For traders: the pilot could increase institutional demand, liquidity and product innovation for BTC and ETH, while raising custody and operational considerations; monitoring and reporting requirements should mitigate some counterparty and settlement risks.

Ethereum co-founder Vitalik Buterin has proposed an on-chain gas futures market as an extension to EIP-1559 that would let users pre-buy gas at fixed prices for future time windows. The design targets high-volume actors — exchanges, rollups, wallets and automation services — converting volatile real-time gas costs into predictable forward expenses. Futures would trade on-chain and reflect market expectations of future blockspace demand, rising when demand is expected to increase and falling when it is expected to decrease. Buterin emphasised the mechanism is complementary to gas-reduction efforts and does not aim to lower base fees directly; instead it provides cost certainty for scheduled deployments, upgrades and enterprise operations sensitive to fee spikes. The proposal could also produce new economic signals useful for capacity planning and scaling. No formal EIP has been filed and there is no implementation timeline. Primary keywords: gas futures, Ethereum gas fees, on-chain futures. Secondary keywords: EIP-1559, fee predictability, transaction costs.

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.

Abu Dhabi Global Market (ADGM) and its regulator FSRA have approved Ripple’s tokenized US dollar, RLUSD, for institutional use within the ADGM financial free zone. The designation allows licensed institutions and regulated entities in ADGM to custody, transact and settle in RLUSD for approved financial services. Ripple says RLUSD is issued by regulated custodians and is designed for institutional settlement and liquidity; the company also reports the token’s market cap has surpassed $1 billion. The approval follows Ripple’s broader UAE licensing and regional partnerships (including Dubai and Gulf trials) and aligns with Abu Dhabi’s move to expand regulated digital‑asset infrastructure. Market implications for traders: increased institutional on‑ramps and higher potential settlement volumes for RLUSD could boost demand and liquidity for the tokenized dollar within a regulated jurisdiction, supporting tighter spreads and deeper order books. Watch for renewed institutional flows, custody integrations and pilot rollouts with regional partners that may raise RLUSD trading volumes and on‑chain settlement activity. Relevant keywords: RLUSD, Ripple, Abu Dhabi Global Market, institutional stablecoin, tokenized dollar, custody, regulated digital assets.

Exodus Movement (EXOD) has partnered with MoonPay and infrastructure provider M0 to launch a fully reserved, US dollar‑backed stablecoin aimed at payments in early 2026. MoonPay will issue and manage the token on M0’s programmable, interoperable platform, enabling rapid minting, cross‑network expansion and enterprise issuance features. Exodus plans to integrate the stablecoin into Exodus Pay so users can send, spend and earn rewards while retaining self‑custody of private keys. The rollout emphasizes speed, reliability and regulatory compliance — coming after the U.S. GENIUS Act (July 2025) which mandates 100% reserves, monthly disclosures and annual audits for regulated stablecoins. Product availability, supported networks and merchant integrations will be announced closer to launch. Market context: the stablecoin sector exceeded $300 billion in 2025 with incumbents such as USDC and PYUSD; Exodus aims to compete as a payment‑focused, regulated digital dollar leveraging MoonPay’s distribution network and M0’s infrastructure.

Digitap is marketing an omni-banking app that prioritises stablecoins for everyday spending and is running an active $TAP token presale. The live iOS/Android app offers fiat and stablecoin wallets, a Visa-backed card, merchant tools (auto-conversion), tiered KYC (including a No-KYC wallet), and planned faster settlement over SEPA and SWIFT. The presale has sold roughly 155–156 million TAP and raised about $2.8–$3.0 million; current presale price is $0.0383, next step $0.0399, with a confirmed listing price targeted at $0.14. Tokenomics cite a fixed supply, staking rewards (advertised up to 124% APY), and 50% of platform profits earmarked for buybacks and burns. A time-limited “12 Days of Christmas” campaign offers staged bonuses and account upgrades to sustain momentum during the sale. The project frames itself as a utility-first play amid tighter liquidity and falling risk appetite, comparing early-stage conditions to historical opportunities (the article references Solana when SOL traded near $10). Note: this is paid promotional content and not investment advice.

U.S. XRP spot ETFs recorded net inflows of $11.93 million on Dec. 24 (US Eastern), driven mainly by Franklin’s Franklin XRP ETF (XRPZ), which saw $11.14 million of inflows that day and now has cumulative net inflows of $231 million. Canary’s Canary XRP ETF (XRPC) contributed $0.79 million on the day and has cumulative inflows of $385 million. Total assets under management (NAV) across XRP spot ETFs stand at $1.25 billion, with XRP making up 0.98% of net assets. Historical cumulative net inflows into XRP spot ETFs have reached about $1.14 billion. Data source: SoSoValue; figures are market information and not investment advice.

Hong Kong’s Insurance Authority has published draft rules that would require licensed insurers to hold capital equal to 100% of the value of any directly held cryptocurrencies, marking the first explicit insurer crypto framework in Asia. Stablecoins are treated separately: for Hong Kong-regulated stablecoins risk charges would be tied to the underlying fiat and aligned with the territory’s forthcoming stablecoin licensing regime expected in early 2025. The proposals, announced in a December 4 presentation and subject to public consultation from February to April 2026, also extend capital incentives for investments in Hong Kong and mainland China infrastructure projects. The draft opens insurers to crypto-related infrastructure investments while emphasising operational safeguards — custody, accounting and cybersecurity — and expects larger, well-capitalised insurers to lead allocations. Hong Kong’s insurance sector wrote roughly HK$635 billion (≈US$82bn) in gross premiums in 2024 across 158 licensed insurers, so even small allocations could supply meaningful institutional liquidity to digital-asset markets. The framework contrasts with other Asian regimes: South Korea still restricts insurer holdings, Singapore focuses on retail controls, and Japan may reconsider classifications in 2026. Public consultation will precede legislation submission. Key SEO keywords: Hong Kong regulation, insurance capital rules, crypto risk charge, stablecoin licensing, institutional liquidity.

Coinotag, citing Coinglass data, identifies concentrated Bitcoin liquidation risk around the $86,000–$90,000 range for centralized exchanges (CEXs). If BTC falls to $86,000, cumulative long-liquidation intensity across major CEXs is estimated at about $1.02 billion, raising the chance of a rapid waterfall-style unwind. Conversely, a sustained break above $90,000 could trigger roughly $677 million in short-liquidation intensity as short positions get squeezed. Coinotag stresses that the charted figures measure liquidation intensity (relative cluster importance and potential price impact) rather than exact contract counts; they are directional risk signals, not precise forecasts. Traders should treat $86K and $90K as key liquidity triggers: monitor order-book depth, manage leverage, size stops and hedges accordingly, and be prepared for amplified volatility from cascade liquidations. These metrics improve situational awareness but do not guarantee outcomes.

A sudden, hour-long liquidation event forced about $113 million in crypto futures liquidations across major exchanges, contributing to roughly $508 million in total liquidations over 24 hours. The cascade was driven by high leverage, clustered liquidity and stop-loss orders, abrupt price moves (likely a sharp BTC swing), and large ‘whale’ trades that triggered cascading margin calls. Forced liquidations produced feedback selling that amplified declines in low-liquidity conditions. Traders are advised to reduce leverage (many professionals recommend ≤5x), place stop-losses at meaningful technical levels, diversify capital, and monitor open interest, funding rates and real-time liquidation feeds (e.g., CoinGlass, Bybit) to detect crowded positions. While mass liquidations increase short-term volatility and can depress spot prices, they also remove excess leverage and may create buying opportunities after the cascade ends. Key trading takeaways: prioritize capital preservation, use conservative leverage, watch liquidation heatmaps and funding rates, and treat such events as market reset mechanisms rather than isolated anomalies.

The UK Financial Conduct Authority (FCA) has opened a major consultation to create a comprehensive regulatory framework for crypto trading platforms, intermediaries, staking, lending/borrowing and DeFi. The consultation covers token listing admissions and disclosures, market-abuse rules (insider trading and manipulation), governance, operational and conduct standards for exchanges and brokers, mandatory risk disclosures for staking services, and protections for lending and borrowing. Responses are requested by 12 February 2026; the FCA aims to publish final rules and guidance in 2026 ahead of government plans to bring crypto firms under full FCA supervision from October 2027. The FCA says the rules are intended to increase transparency and consumer protection without eliminating all risk. Market context from follow-up reporting: recent US jobs data amplified uncertainty and triggered roughly $500m in crypto liquidations within 24 hours, briefly raising volatility. Other industry notes: MetaMask added native Bitcoin support and Ripple has been testing a USD-backed stablecoin (RLUSD) on L2 chains. For traders, the consultation signals a likely shift from a light-touch UK regime to clearer, stricter rules that will increase compliance costs and could change product availability, custody practices and counterparty risk across exchanges, staking and lending services. Primary keywords: UK crypto regulation, FCA consultation, crypto exchanges. Secondary/semantic keywords: staking rules, crypto lending, market abuse, DeFi oversight, token listings.

The U.S. Office of the Comptroller of the Currency (OCC) on Dec. 12 granted conditional approvals for five national trust bank charters, expanding federal oversight of crypto-focused banks. Approved were First National Digital Currency Bank (linked to Circle/USDC), Ripple National Trust Bank, and conversions to national charters for BitGo Bank & Trust, Fidelity Digital Assets, and Paxos Trust Company. These entities—stablecoin issuers or custodians for USDC, USDS, PYUSD and RLUSD—will be allowed to custody their own digital assets under OCC supervision. National trust banks cannot take retail cash deposits or make loans but can provide custody, asset management and payment-settlement services across all states without separate state licenses. The OCC’s approvals are conditional: firms must meet specified capital, governance and risk-management requirements before final charters are granted. The move follows earlier OCC steps (including Anchorage’s 2021 charter and approval of “riskless principal” crypto‑asset transactions) and accompanies related industry developments: the SEC issued a no-action letter to The Depository Trust Company for a voluntary securities-tokenization pilot (targeted H2 2026 for Russell 1000 equities, U.S. Treasuries and major ETFs), and JPMorgan launched MONY, an Ethereum tokenized money-market fund investable with cash or USDC. Banking trade groups including the American Bankers Association and Bank Policy Institute criticized the approvals, warning of blurred regulatory boundaries, unresolved supervision and resolution questions, and potential systemic risk. Implications for traders: allowing issuers and custodians to self-custody under federal charters can reduce counterparty risk for stablecoins and encourage greater institutional on‑chain activity, potentially improving liquidity and market depth for assets tied to these providers. However, heightened regulatory scrutiny, legal challenges and industry pushback create uncertainty that could drive episodic volatility around related stablecoins and platforms.

Coinbase and Standard Chartered have extended and deepened a strategic institutional partnership to broaden fiat on- and off-ramps, custody, trading support, staking, lending and other digital-asset infrastructure for institutional clients. The collaboration combines Standard Chartered’s cross-border banking, risk management and regulatory expertise with Coinbase’s institutional trading and custody capabilities. Key features include expanded USD settlement rails and account connectivity for faster transfers, integrated custody solutions to reduce counterparty risk and operational friction, and exploration of staking, lending and other services for asset managers, trading firms and corporates. The deal builds on earlier cooperation in Singapore (real-time SGD transfers) and sits alongside other bank-led tokenization and stablecoin pilots in the region. For traders, the partnership may increase institutional on-ramps, liquidity and custody capacity, reduce settlement times and costs for large flows, and support the emergence of more regulated institutional products—factors that can enable larger inflows and smoother execution for high-volume trading.

Vanguard has begun allowing its brokerage clients to trade third‑party regulated spot Bitcoin ETFs while keeping a cautious stance toward cryptocurrencies. The firm will not launch its own crypto products or provide proprietary crypto advice. Vanguard executives, including John Ameriks, say bitcoin is a speculative collectible that lacks income, cash flows and compounding traits Vanguard seeks for long‑term holdings, though they acknowledge ETFs have shown functioning liquidity and resilience under stress. Vanguard will continue to restrict access to speculative tokens and SEC‑unsupported products. Management noted bitcoin might show non‑speculative value under extreme scenarios (high inflation or political instability), but historical data is too limited to treat it as a core long‑term asset. Primary keywords: Vanguard, Bitcoin, Bitcoin ETF, crypto ETFs; secondary keywords: regulated ETFs, speculative asset, institutional access, investment policy.

J.P. Morgan arranged a $50 million issuance of tokenized U.S. commercial paper for Galaxy Digital on the Solana blockchain, creating and managing the on‑chain US Commercial Paper (USCP) token and handling delivery‑versus‑payment settlement. The issuance and redemption were executed in USDC to accelerate finality and avoid bank-transfer delays. Institutional buyers included Franklin Templeton and Coinbase (which also provided wallet custody); Galaxy Digital Partners acted as structuring agent. Solana was chosen for fast settlement and low fees; USDC offered dollar-pegged, operationally simple settlement. The deal is one of the largest U.S. commercial paper issuances on a public blockchain and an early institutional example of blockchain-based debt issuance. Market observers say it highlights growing institutional demand for tokenization, programmable settlement and public-chain infrastructure, with potential cost and time savings versus traditional rails. Analysts expect tokenized securities could scale substantially over the coming years as firms seek faster, more transparent settlement for real-world assets. For traders: the transaction underlines institutional interest in Solana-based infrastructure and USDC liquidity, may increase on-chain institutional activity, and is a signpost for potential growth in tokenized asset markets.

The Monetary Authority of Singapore (MAS) has expanded Ripple Markets APAC’s Major Payment Institution (MPI) licence, allowing Ripple to offer a broader suite of regulated payment services from its Singapore hub. The 2025 licence upgrade builds on Ripple’s 2023 full MPI approval and now permits end‑to‑end cross‑border payment processing, regulated digital payment token services (including XRP), settlement and liquidity provision using Ripple USD (RLUSD), fiat on/off‑ramp services, and enterprise settlement tools under MAS oversight. Ripple can market scalable payment solutions to banks, fintechs and crypto firms across Asia‑Pacific remittance corridors. Company executives highlighted Singapore’s clear, innovation‑friendly regulatory framework and rising on‑chain activity in APAC, positioning Ripple to deepen regional infrastructure investment. Remaining caveats include unspecified operational details requiring compliance work, lengthy institutional integration cycles, cross‑jurisdictional regulatory differences and market volatility that could affect adoption of XRP‑based services. For traders, the licence expansion strengthens Ripple’s regulatory standing in a key market, raises the probability of broader institutional use of XRP and RLUSD across APAC corridors, and may support positive sentiment and increased on‑chain activity for XRP. This is informational and not investment advice.

Coinbase has reopened user registrations in India after a two‑year suspension, restoring nationwide crypto‑to‑crypto trading, asset transfers, and wallet features while planning a full bank‑linked INR cash‑to‑crypto on‑ramp in 2026. The exchange originally entered India in 2022 but halted UPI payments and exited in 2023 after the National Payments Corporation of India rejected its UPI use. Coinbase rebuilt regulatory ties, registering with India’s Financial Intelligence Unit in March 2025 and running an early‑access relaunch in October before opening registrations more broadly. Current services include Simple Trade, Advanced Trade and Coinbase Wallet (self‑custody, NFTs, dApps); INR deposits and withdrawals remain disabled pending the planned fiat rails. Coinbase says it will prioritise custody protections, simple onboarding and local hiring (expanding a team of 500+ across product, engineering and compliance) and has boosted investment in Indian exchange CoinDCX. India’s crypto tax regime — 30% tax on gains plus 1% tax deducted at source — remains a headwind. For traders, the phased return signals increased on‑chain liquidity and competition in India ahead of a potential 2026 retail growth catalyst if fiat rails are approved. Short‑term effects may be limited while INR rails are offline; long‑term market access and volumes could rise materially once cash‑to‑crypto flows resume.

French banking group BPCE is launching in‑app cryptocurrency trading on 8 December, giving about 2 million customers across four regional banks early access. The service is operated by BPCE’s digital‑assets arm Hexarq and supports Bitcoin, Ethereum, Solana and USDC. Pricing: a €2.99 monthly fee for the dedicated crypto account plus a 1.5% commission per trade (minimum ≈ $1.16). BPCE will deploy the feature in phases across its network, targeting roughly 12 million retail customers by 2026 to monitor performance and resolve issues before full rollout. Trades execute through a Hexarq‑managed digital‑asset account integrated into the mobile banking apps. The move makes BPCE one of the large European traditional banks offering native crypto trading, increasing competition with fintechs (Revolut, Bitstack, Trade Republic) and banks like BBVA and Openbank that already provide similar services. The rollout comes amid regulatory scrutiny in France — lawmakers have proposed classifying crypto as “non‑productive wealth,” which could expose very large holdings to a new wealth tax — a factor traders should watch. For crypto traders: expect increased retail access and potentially higher on‑chain demand for BTC, ETH and SOL over time, but also short‑term sensitivity to fee structure, onboarding limits and French regulatory developments.

Citadel Securities told the U.S. Securities and Exchange Commission that certain DeFi platforms—especially those handling tokenized U.S. equities—functionally operate like traditional exchanges or broker‑dealers and therefore should be subject to comparable Securities Exchange Act oversight. The firm pointed to smart‑contract order matching, automated market makers, fee models and custody-like flows as evidence that DeFi trading venues create transparency, surveillance and compliance gaps if given broad exemptions. Citadel proposed targeted rulemaking to fold tokenized assets into existing frameworks rather than creating parallel regimes. The submission renewed a wider industry debate: crypto advocates, including Uniswap founder Hayden Adams and groups like the Blockchain Association, warn that treating open‑source developers or non‑custodial protocols as intermediaries would chill innovation, push teams offshore and harm U.S. competitiveness in tokenization. Financial trade groups and voices aligned with SEC Chair Gary Gensler urge careful, technology‑neutral rules to balance investor protection with innovation. For traders, this dispute could reshape market structure, increase compliance costs for tokenized‑asset platforms, alter liquidity and onboarding processes, and change the design of tokenized products if the SEC moves toward treating DeFi venues as regulated exchanges or broker‑dealers.

Solana Mobile will launch the SKR token in January 2026 to coordinate governance, device verification, dApp-store curation, builder rewards and staking across its Seeker mobile ecosystem. SKR’s reported supply and allocation prioritise ecosystem growth: 10 billion total supply with roughly 30% for airdrops, 25% for growth and partnerships, 10% for community treasury and the remainder split between Solana Mobile, Solana Labs, and liquidity/launch operations. Seeker has already onboarded more than 150,000 devices and 175+ dApps, which processed over $100 million in mobile activity during Seeker Season. Solana Mobile will expand its Guardians programme in 2026 — initial operators include Anza, DoubleZero, Triton, Helius and Jito — to verify device integrity, strengthen app-review standards and coordinate trusted marketplace actions. Early beneficiaries are likely Seeker owners and early dApp builders who may receive significant airdrops or incentives; however, large initial distributions do not guarantee sustained usage or active governance. On market impact, SOL trades near $143 with analysts watching a 12‑hour double‑bottom. A clean breakout above the $148–$150 neckline could target $165–$180 (some analysts cite $170); failure would risk a pullback toward $128–$132. Key keywords: SKR token, Solana Mobile, Seeker, airdrop, tokenomics, governance, SOL price, Guardians.

Kevin Hassett has emerged as the frontrunner to be nominated by President Trump as the next Federal Reserve Chair, with prediction markets (Polymarket/Kalshi) pricing his odds near 80–85% after Trump’s public praise and scheduling moves that favored him. Hassett, a former chair of the Council of Economic Advisers and director of the White House National Economic Council, is viewed as politically aligned with the administration and strongly dovish — he has publicly argued the Fed should cut rates faster and is willing to tolerate higher short‑term inflation to deliver quicker rate cuts. Notable for crypto traders: Hassett disclosed substantial Coinbase stock holdings (reported roughly $1m–$5m) and serves on Coinbase advisory panels while leading the White House digital‑asset working group. That direct link to the crypto industry, combined with his likely dovish tilt, is expected to push liquidity higher, put downward pressure on the dollar, and favor risk assets including Bitcoin and major altcoins. Market implications: Traders should watch for an increased probability of earlier rate cuts, a potential USD weakness, and a liquidity tailwind that can lift crypto and tech equities. Short term, news-driven rallies in Bitcoin (BTC) and other liquidity‑sensitive tokens are plausible on nomination headlines. Medium-to-long term, easier monetary policy typically supports higher risk asset valuations, though concerns over Fed independence and political influence could add volatility and regulatory scrutiny. SEO keywords (primary/secondary) integrated: Kevin Hassett, Federal Reserve, Fed chair, Coinbase holdings, interest rates, dovish Fed, Bitcoin, crypto market, dollar weakness, liquidity.

Binance promoted co‑founder Yi He to co‑CEO alongside Richard Teng, creating a dual leadership to balance user‑centric product growth with stronger regulatory compliance. Teng — a former regulator who became CEO during Binance’s 2023–24 U.S. settlement period and CZ’s resignation — will continue to lead regulatory, institutional readiness and compliance efforts. Yi He, previously head of customer service and a long‑time strategic lead, will focus on product innovation, Web3 expansion, marketing and rebuilding customer trust. The appointment signals a strategic shift from CZ’s rapid expansion model to a split role of “Builder‑in‑Chief” (He) and “Regulator‑in‑Chief” (Teng). The announcement coincided with a short BNB price uptick (reported near $896.05). However, Binance still faces significant legal and reputational risks, including a North Dakota lawsuit alleging transfers tied to extremist groups that could materially affect the company’s risk profile. For traders: leadership changes aim to reduce regulatory tail risk over time and may support medium‑term confidence in BNB, but ongoing litigation and reputational uncertainty make near‑term volatility likely. Keywords: Binance, Yi He, Richard Teng, co‑CEO, compliance, BNB, regulatory risk.

The Philippines has begun enforcing stricter crypto regulations by ordering internet service providers to block access to around 50 online trading platforms identified as operating without local licenses. Reported blocked services include Coinbase and Gemini; regulators previously targeted Binance and issued ISP blocks in 2024. The National Telecommunications Commission (NTC) said its directive followed requests from the Bangko Sentral ng Pilipinas (BSP) and the Securities and Exchange Commission (SEC), citing Section 902‑N of the Non‑Banking Financial Institutions Regulation Manual (amended by BSP Circular No. 1206). The move signals a shift from informal tolerance to active licensing enforcement: local licensing is now a de facto gateway to serve Philippine users. Regulators say the blocks aim to protect consumers from risks posed by unregistered virtual asset service providers. The SEC has also publicly named other unlicensed platforms such as OKX, Bybit and KuCoin. Meanwhile, compliant local firms and regulated blockchain initiatives continue to expand services — for example, PDAX’s payroll stablecoin work and the government’s Integrity Chain for public contracts — suggesting onshore, licensed venues will capture more trading volume. Traders should monitor liquidity and spreads for pairs linked to affected exchanges, potential price dislocations on local venues, increased onshore flow to regulated exchanges, and further regulatory announcements that may list additional platforms or clarify re‑licensing paths.

The market saw a record surge in crypto mergers, acquisitions and IPOs in 2025, with total deal value reaching $8.6bn across 267 transactions (up 18% by count and nearly 300% by value from 2024). Major M&A deals included Coinbase’s $2.9bn acquisition of options exchange Deribit, Kraken’s $1.5bn purchase of futures platform NinjaTrader, and Ripple’s $1.25bn acquisition of prime broker Hidden Road. The wave of dealmaking and large public raises — 11 crypto IPOs raised about $14.6bn globally, led by Bullish (~$1.1bn), Circle Internet Group (> $1bn) and Gemini ($425m) — is credited largely to a more crypto‑friendly US policy environment under President Trump, which eased regulatory and legal pressure and restored institutional appetite. Legal and industry advisers expect continued M&A interest in firms with clear licences (including EU MiCA alignment) and strong stablecoin exposure as new US/UK regimes take shape. For traders: expect greater institutional participation, consolidation among regulated players, and volatility catalysts from M&A liquidity shifts and IPO lock‑up expiries. Note that this corporate activity coincided with a late‑year spot pullback — Bitcoin fell more than 30% from an October peak and traded near $88,000 at the report’s publication — underscoring that heightened dealflow does not preclude short‑term price weakness.

A sudden wave of perpetual futures liquidations wiped out $90.7 million within 24 hours, highlighting acute volatility and concentrated leverage in crypto markets. Breakdown: BTC saw $49.83M liquidated (50.98% longs), ETH had $30.32M liquidated (74.67% longs), and PIPPIN accounted for $10.59M (87.18% shorts). Earlier reporting placed total liquidations near $370M across major assets, underscoring ongoing systemic leverage risk; however, the later, narrower figure focuses specifically on perpetuals over a single 24‑hour window. The mixed long/short distribution shows divergent directional moves — BTC and ETH price falls hit long holders, while a sharp rally in PIPPIN forced short sellers out. Large forced liquidations amplify price swings via cascade selling/buying and can trigger feedback loops that increase short‑term volatility. Trader takeaways: reduce leverage, set stop‑losses, monitor funding rates and liquidity, manage position sizes, and use real‑time liquidation trackers to monitor concentrated risk. This episode reiterates that overcrowded leveraged bets in perpetual markets can rapidly reset positions and threaten short‑term market stability.

Ghana’s parliament has passed the Virtual Asset Service Providers (VASP) Act, formally legalizing cryptocurrency trading and creating a licensing and oversight framework for exchanges, wallet providers and other crypto service firms. Regulation splits responsibilities between the Bank of Ghana and the Securities and Exchange Commission, which will require VASPs to register or obtain licenses and meet reporting, consumer‑protection, AML/CTF and risk‑control standards. The Act’s effective date will be announced after regulators publish operational directives. Bank of Ghana Governor Johnson Asiama said oversight should increase accountability, lower costs for financial institutions, improve customer experience and support SMEs, aligning Ghana with AfCFTA competitiveness goals. The government plans to explore asset‑backed digital settlement tools, including potential gold‑backed stablecoins backed by Ghana’s reserves, targeted for study in 2026. Market context: about 3 million Ghanaians (≈17% of adults) used digital assets and roughly $3 billion flowed in crypto transactions from June 2023–June 2024. The move positions Ghana alongside other African markets pursuing regulated participation rather than bans (Nigeria remains high‑volume despite restrictions; South Africa has clear institutional rules; Egypt maintains tight limits). Traders should note new licensing costs, compliance requirements and potential product innovation (asset‑backed stablecoins) as key drivers for on‑chain flows, exchange listings and institutional engagement in Ghana.

Coinbase has acquired prediction-markets start-up The Clearing Company, led by Toni Gemayel, as part of its 2025 acquisition spree and push to build an “Everything Exchange.” Terms were not disclosed; the deal is expected to close in January 2026. The acquisition follows Coinbase’s limited launch of prediction markets to users and complements other 2025 moves — including purchases such as Deribit and Echo, the launch of Coinbase Tokenize, expanded Coinbase Business access, custom stablecoin plans and an x402 payments standard. Coinbase says Gemayel and her team will help scale regulated prediction-market products and integrate event contracts into the main trading interface alongside crypto and derivatives. Analysts cited in reports (Benchmark, J.P. Morgan) expect prediction markets to raise user engagement and add a high-frequency product that diversifies revenue beyond spot crypto trading. Traders should note the strategic aim: broaden product mix (stocks, derivatives, prediction markets), increase on-platform activity, and reduce reliance on pure crypto spot volumes. COIN closed at $247.90 on the announcement day. Primary keywords: Coinbase, prediction markets, The Clearing Company; Secondary keywords: Everything Exchange, Deribit, Coinbase Tokenize, event-based trading.