Latest Crypto News | Bitcoin, Ethereum and Altcoin Updates

Hyperliquid executed a scheduled team vesting on Nov 29, 2025, distributing 1.75 million HYPE to team members under previously announced allocations. The project reiterated its long-standing no-venture-capital stance after on-chain monitoring (reported by Lookonchain) detected unstaking, restaking and transfers — notably ~609,108 HYPE moved to Flowdesk — and a negligible secondary-market sale of ~1,200 HYPE for USDC. Market reaction saw HYPE drop roughly 4.6% immediately and over 6% in 24 hours, leaving the token about 43% below its September all-time high. Tokenomics remain: 1 billion total supply, ~31% airdropped in Nov 2024, 23.8% allocated to the team (with earlier lockups/vesting) and ~38.9% reserved for future emissions. Hyperliquid says most unlocked tokens were restaked or held on-chain, signalling continued insider exposure. The team has also filed with the SEC for mechanisms to raise up to $1 billion for HYPE purchases and expansion. Key implications for traders: the unlock produced short-term selling pressure and elevated volatility for HYPE, but the limited realized sell volume and prevalent restaking suggest muted long-term dilution risk and persistent team bullishness — traders should expect increased on-chain activity around future vesting windows and watch Flowdesk flows and staking behavior for signs of actual market selling.

The UK has adopted the OECD-derived Crypto-Asset Reporting Framework (CARF) in the 2025 Budget, forcing crypto platforms serving UK customers to collect user IDs, tax numbers and transaction histories from 1 January 2026. Exchanges must submit detailed annual reports to HMRC starting in 2027. CARF expands reporting to cover cross-border and domestic crypto transactions and is designed to improve enforcement of existing capital gains tax rules; HMRC estimates it will raise about £315 million (~$417 million) by April 2030. Non-compliance risks fines (up to £300 per unreported customer) and penalties for inadequate record-keeping. The framework does not by itself create new taxes on staking or lending, but DeFi taxation remains under consultation, with proposals such as a “no gain, no loss” rule that defers capital gains tax until disposal. Industry feedback is mixed: firms warn of costly data and KYC upgrades, longer audits, and added burdens on stablecoin providers; some welcome DeFi clarity. Traders should verify tax details with exchanges before 2026, expect platforms to upgrade reporting systems and possibly pass compliance costs to users via fees, and prepare for stronger HMRC scrutiny once reporting begins in 2027. Key keywords: UK crypto reporting, CARF, HMRC, crypto tax reporting, DeFi taxation.

South Korea’s Financial Services Commission has announced stricter crypto anti‑money‑laundering (AML) measures that require virtual asset service providers (VASPs) to collect and share full Travel Rule sender/receiver data for all crypto transfers, removing the prior 1 million‑won (~$680) threshold. The package also tightens background checks on major shareholders—banning individuals with drug, tax‑evasion or similar convictions from holding large stakes in VASPs—and grants regulators faster temporary account‑freeze powers for accounts suspected of links to crimes such as tax evasion, drug trafficking, gambling or online scams. Offshore platforms judged “high‑risk” for evading controls may be blocked for Korean users, and local exchanges face enhanced financial checks to retain registration. The Financial Intelligence Unit will gain expedited authority to freeze assets during probes. Regulators plan deeper international cooperation (including engagement with FATF) and expect the rulebook and legal updates to be completed and submitted to the National Assembly in H1 2026. The moves follow a spate of scandals and industry consolidation — including takeover interest in Dunamu (Upbit) and investigations into illegal exchanges and large USDT laundering via voice‑phishing scams — raising risks of liquidity shifts, higher compliance costs for local exchanges and tighter access to offshore venues. Traders should watch for regulatory risk premium, potential volume migration, and short‑term market pressure on local listed crypto firms and service tokens as compliance costs and restrictions bite.

Bhutan’s government staked 320 ETH (≈$970,000) through institutional staking provider Figment, confirming increased state-level involvement in Ethereum. The move follows a national digital identity (NDI) migration that began in October, shifting resident credentials from Polygon to Ethereum; the Ethereum Foundation and Bhutanese officials expect full migration for roughly 800,000 residents by early 2026. Separately, Bhutan has accumulated sizeable Bitcoin reserves via hydropower-powered mining since 2019, holding roughly 6,154–6,371 BTC (reports vary). The government is also promoting crypto adoption for payments and tourism, with a Binance-supported merchant program claiming nearly 1,000 onboarded businesses. Key entities: Figment, Ethereum (ETH), Ethereum Foundation, Vitalik Buterin, and Prime Minister Tshering Tobgay. For traders: the on-chain 320 ETH stake signals sovereign participation in ETH staking markets and institutional demand; the NDI migration increases on-chain activity and potential long-term utility demand for Ethereum, while Bhutan’s BTC reserves underscore a diversified national crypto strategy.

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.

Analysts assess XRP’s realistic price path from 2026–2030 and whether it can reach $5. The primary determinant remains regulatory clarity — especially the outcome of the U.S. SEC lawsuit against Ripple — with a clear favorable ruling likely to remove the main overhang and support higher prices. Other key drivers are institutional adoption of Ripple’s On‑Demand Liquidity (ODL), verifiable on‑chain adoption metrics and volume, and technical upgrades to the XRP Ledger (scalability, Hooks, low fees). Scenario analysis: bullish — full regulatory win plus rapid ODL adoption and a broad crypto bull market could make $5 plausible by 2029–2030; base case — gradual normalization, steady adoption and market cycles could place XRP around $2.50–$3.50 by 2030; conservative — continued regulatory uncertainty or adverse rulings keep XRP below $2 for much of the decade. Constraints and risks include Ripple’s large escrow holdings and scheduled releases, competition from CBDCs and rival payment tokens/chains, persistent technical resistance around $1.50–$2.00, market volatility, and Ripple’s business concentration. Traders should monitor primary indicators: SEC litigation developments, verified ODL/institutional flows, on‑chain volume and liquidity, escrow release schedule, and macro crypto market health. Risk management through position sizing, diversification and event‑driven stop rules is advised. The report emphasises that a $5 outcome requires multiple favorable conditions aligning over several years; absent those, upside is likely limited to the mid‑single digits.

This unified analysis assesses Cardano (ADA) price prospects for 2026–2030 and whether ADA can reach $2. It integrates on-chain metrics, roadmap milestones and macro factors. Key bullish drivers: deployment of Layer‑2 scaling (Hydra), improved staking economics, Voltaire governance rollout, broader DeFi/NFT adoption raising TVL and daily active addresses, interoperability, and uptake in verticals such as identity and education—especially in developing markets. Technical strengths include the Ouroboros PoS protocol and IOG’s research‑driven development. Short‑term (2026–2027) scenarios: moderate growth paths project ADA in roughly $0.85–$1.80 depending on market cycles and milestone delivery; a return to a strong crypto cycle could test $1.40–$1.80, while failure to scale keeps prices lower. Longer term (by 2030) scenarios range from a bear case below $1, a base case around $1.80–$2.50, to a bull case of $3–$5 — reaching $2 requires substantial on‑chain economic activity and market‑cap expansion, not just speculation. Primary risks: roadmap delays (Hydra, Mithril, Voltaire), developer attrition, stiff competition from other smart‑contract platforms (notably Ethereum), regulatory headwinds, and macro market volatility. The combined pieces assign a moderate probability (roughly 60–70% in one estimate) of ADA reaching $2 between 2027–2029, but stress high uncertainty. Trading considerations for crypto traders: use dollar‑cost averaging, consider staking to capture yield and reduce supply pressure, size positions relative to portfolio risk, and closely monitor milestone delivery, TVL growth, DAUs, and DeFi activity as catalysts. This outlook is informational and not trading advice.

The USDC Treasury (Circle) minted 250,000,000 USDC in a single on-chain transaction flagged by Whale Alert on April 10, 2025. Backed 1:1 by USD reserves, this mint increases USDC circulating supply and represents a notable liquidity event. Large-scale mints often signal institutional activity — exchanges, market makers, hedge funds or corporations preparing liquidity for trading, large asset purchases (e.g., BTC, ETH), OTC desks or DeFi deployments. On-chain transparency allows traders to monitor subsequent token flows to exchanges, DeFi protocols or custody wallets. The immediate market effect depends on deployment speed and destination: transfers to exchanges or trading desks can create near-term buying pressure on major crypto assets, while idle custody or redemptions would mute impact. Key data points: 250,000,000 USDC minted; recorded at the official USDC Treasury contract address. Historical context: prior multi-hundred-million USDC mints have coincided with institutional inflows and TVL increases but are not guarantees of instant rallies. For traders: treat the mint as a neutral on-chain indicator that becomes bullish if followed by visible exchange inflows or on-chain conversions into crypto. Track on-chain explorers and alert services for follow-through; watch for increased market depth and reduced slippage if funds are deployed as liquidity.

Bitcoin faces the largest annual options expiry on December 26, 2025, with roughly $23.6–23.7 billion notional across about 300,000 BTC contracts and concentrated IBIT strikes near $85k–$100k. Thin holiday liquidity and strong gamma hedging have compressed price action into an $85k–$90k range. Market models and options desks indicate a likely initial squeeze toward $82k–$84k that could clear leveraged longs, followed by a rebound toward the $95k “max pain” level as market makers hedge flows. Historical expiries show mixed outcomes — some compress volatility before a post-expiry breakout (Dec 2023), others saw volatility rise (Mar/Sep 2024) — so outcomes vary. Macro drivers — US Treasury yields, Fed rate-cut timing, ETF inflows, and the April 2026 halving reducing supply — remain key background factors. Analysts flag elevated 5–7% intraday swings during the holiday expiry window and advise traders to reduce leverage, monitor open interest and liquidation heatmaps, and watch expiry flow and gamma levels for short-term trade setups. Primary technical levels: support around $80k–$82k; resistance/trigger near $90k and $95k. Net implication for traders: expect short-term volatility around the expiry with potential for a January rally as hedges unwind, but remain cautious of a March bull-trap and avoid over-leveraging.

Trust Wallet’s Chrome browser extension (version 2.68) was compromised via a malicious update that exfiltrated seed phrases and allowed attackers to drain wallets across multiple chains. Blockchain investigators traced more than $7 million stolen from wallets on BTC, ETH, SOL and BNB Chain, with funds rapidly routed through exchanges, swaps and mixers. The company confirmed the breach on-chain after researcher ZachXBT raised the alarm. Binance co-founder and CEO Changpeng Zhao (CZ) said Binance/Trust Wallet will reimburse verified losses and described the funds as “SAFU.” Trust Wallet released patched extension links and advised affected users to disable version 2.68 immediately and upgrade to 2.69; mobile apps and other extension versions were not affected. The team also warned against importing seed phrases into browser extensions and recommended hardware wallets for large balances. An internal review is under way to determine how a malicious update passed submission checks; investigations and reimbursement processes are ongoing. For traders: expect continued scrutiny on browser-extension security, potential short-term selling pressure on tokens tied to compromised chains if large on-chain sell-offs persist, and heightened demand for hardware and custody solutions.

Sberbank, Russia’s largest bank, is exploring ruble loans collateralised by cryptocurrencies such as Bitcoin and other digital assets. Deputy Chairman Anatoly Popov said the bank aims to let retail and corporate clients pledge crypto to obtain fiat liquidity without selling holdings, while working closely with regulators to design custody, operational infrastructure and legal safeguards. Sberbank has piloted custody via its Rutoken solution and organised more than 160 digital asset issuances this year, including tokenised real estate and oil-linked instruments, and is experimenting with DeFi tools. The bank is assessing technical, legal and regulatory requirements and says formal approvals will be required before rollout. Observers expect a gradual, regulated deployment; if authorised, the product could set a precedent and encourage other Russian banks to offer crypto-backed ruble lending. Key implications for traders include increased on-chain utility for Bitcoin and tokenised assets in Russia, potential growth in ruble-denominated crypto lending markets, and closer alignment between institutional banking and digital-asset ecosystems.

The Bank of Lithuania has set a firm deadline requiring domestic crypto-asset service providers to obtain MiCA-compliant licenses by December 31, 2025. From January 1, 2026, any unlicensed onboarding, custody or service provision will be illegal and subject to enforcement including fines, website blocks and potential criminal prosecution (penalties include up to four years’ imprisonment). The central bank urged firms to apply immediately. It also issued guidance for orderly wind-downs for operators that do not intend to seek licenses — including notifying customers, providing clear withdrawal and transfer instructions, and returning custodied assets. Lithuania implemented the licensing regime under the EU Markets in Crypto-Assets (MiCA) framework and the transitional period allowing existing firms to seek approval expires at year-end. Of more than 370 crypto firms registered in Lithuania as of mid-July 2025, only about 30 had submitted license applications and roughly 10 reached active evaluation, indicating a likely large market contraction or relocation of services. MiCA compliance imposes stricter governance, local AML officer residency, written risk-management systems and minimum capital thresholds (EUR 50,000–150,000 depending on services). Traders should watch for immediate market-moving events: exchange relocations, site blocks, mass asset withdrawals and reduced liquidity or wider spreads on affected tokens. Expect sector consolidation and operational disruptions in the short term; monitor order books, withdrawal flows and listings to manage execution and counterparty risk.

Toncoin (TON) has been range-bound above the $1.45 support since testing a $1.42 low on Nov. 21. After a brief push above the 21-day SMA on Dec. 7, TON failed to sustain gains toward the 50-day SMA and was capped around $1.60–$1.49, then retraced to remain range-bound above $1.45. Short-term momentum has eased: moving averages on higher timeframes slope downward and price is trading under these averages, while the 4‑hour chart shows buyers repeatedly stalled at the 50‑day SMA. Key longer-term resistance zones cited are $4.00, $4.50 and $5.00; broader historical support levels mentioned include $3.50, $3.00 and $2.50. For traders, the critical near-term level is $1.45 — a decisive break below it would likely open a path to $1.17 and, in a deeper bearish scenario, toward prior lows near $0.70. The overall short-term outlook is neutral-to-bearish while TON stays compressed in this range; volatility and directional bias will depend on whether buyers can reassert above the 50‑day SMA or sellers force a break of $1.45. This is market commentary, not investment advice.

Uniswap governance approved the UNIfication package with overwhelming support (~125.34M UNI for, 742 against), implementing a protocol-level fee switch that redirects a portion of trading fees (including net sequencer fees from Unichain/Uniswap’s layer-2 routing) from liquidity providers to the protocol treasury. After a two-day timelock the proposal will immediately burn 100 million UNI from the treasury — an amount Uniswap says approximates cumulative burns had the fee switch been active since launch — and route ongoing collected fees into continuous UNI burns. The package also consolidates operations by moving Uniswap Foundation functions to Uniswap Labs, removes fees from Uniswap Labs’ interface, wallet and API, and establishes a UNI-funded annual growth budget for development and ecosystem expansion. Founder Hayden Adams framed the changes as foundational for Uniswap’s next decade. Traders should note immediate on-chain effects: a fixed one-time supply reduction (100M UNI) plus an activated revenue-to-burn mechanism that ties protocol usage to deflationary pressure. Short-term risks include market reaction to the treasury burn timing and the opportunity cost of diverting fees from LPs and grants; longer-term effects may increase UNI scarcity and value accrual to token holders if fee volumes remain material. Key facts: ~125M yes votes, 742 no; 100M UNI burn; fee switch activated and ongoing fee-to-burn flow; two-day timelock before execution.

Crypto derivatives volume jumped to roughly $85.7–86 trillion in 2025, averaging about $264 billion per day, according to CoinGlass. Binance led with about $25 trillion (~29% market share), while OKX, Bybit and Bitget each handled roughly $8–10 trillion; the top four accounted for ~62% of global derivatives activity. Institutional participation expanded materially: US spot Bitcoin ETFs, options desks and compliant futures drove more hedging and basis trades, and the CME often surpassed Binance in BTC futures open interest. Open interest started the year near $87 billion, peaked at a record $236 billion on Oct. 7, then fell after an early-Q4 reset that erased over $70 billion in positions; year-end open interest closed around $145 billion (up ~17% from the start). Forced liquidations for 2025 totaled about $150 billion, including a concentrated deleveraging event on Oct. 10–11 that wiped out more than $19 billion in two days — highlighting sensitivity to macro shocks and deep leverage chains. Bitcoin traded near $90k during reporting (≈$89,950); US-listed spot ETFs saw net outflows late in the year and a record options expiry on Dec. 26 likely compressed price moves. Key takeaways for traders: derivatives remain the primary price-discovery venue; market liquidity and risk dynamics are shifting toward institution-led hedging and basis trades; centralisation of volume on a few exchanges increases systemic and counterparty concentration risk; and macro or regulatory shocks can trigger cascading liquidations across interconnected leverage positions.

BTC perpetual futures long/short ratios across major exchanges show a market near equilibrium with a modest short-side bias. Aggregate 24‑hour figures read roughly 49–50% long vs. 50–51% short (latest combined reading ~49.34% long / 50.66% short). Exchange-level breakdowns are close to balanced: Binance ~48.9% long / 51.0% short, OKX ~49.95% long / 50.05% short, Bybit ~48.7% long / 51.3% short. The indicator, which reflects the percentage of long vs. short perpetual positions, points to fragmented sentiment and likely range-bound or consolidating price action rather than a decisive directional trend. Traders should monitor shifts in the long/short ratio alongside funding rates, open interest and price/volume action to spot momentum opportunities or crowded-trade risks. Extreme readings can serve as contrarian signals—heavy long positioning can precede long squeezes and corrections, while heavy shorting can fuel short squeezes and bounces. The metric mainly captures leveraged, short-term participants and can be skewed by large players, so it should be used as a real-time sentiment tool combined with technical and on-chain analysis rather than a standalone predictor.

Coinglass data through December show funding rates for perpetual contracts across major centralized (CEX) and decentralized (DEX) exchanges have trended toward the lower bound for top pairs, notably Bitcoin. Funding rates — periodic payments between longs and shorts that align perpetual prices with spot — have moved closer to a ~0.01% baseline and in many venues dipped below ~0.005%, a level commonly read as bearish. The decline reflects reduced leveraged long exposure and a broader risk-off stance among derivatives traders: lower funding lowers the cost of shorts, discourages leveraged longs and signals cautious appetite for leverage. For traders this is an early warning of potential downside pressure on spot BTC and higher liquidation risk if deleveraging accelerates. Related reports also flagged large ETH leveraged positions and whale movements, underscoring elevated tail-risk and liquidation concerns across venues. Key SEO keywords: funding rates, perpetual contracts, Bitcoin, CEX, DEX, leverage, liquidations.

Bitcoin (BTC) briefly dropped below $87,000, trading at $86,968.80 on OKX and recording a 1.58% decline on the day, according to a PANews market update on December 26. An earlier update had BTC near $89,913 with a modest intraday gain, but the later report shows a sharper pullback. The notices were short market flashes and did not provide drivers, broader market context, or investment advice. Traders should note the intraday volatility in BTC price; absent further market context, the move signals short-term downside pressure but offers limited information for directional conviction.

Hong Kong’s Financial Services and the Treasury Bureau (FSTB) and the Securities and Futures Commission (SFC) have concluded consultations and will move to legislate new licensing regimes for virtual asset dealers and custodians. The proposals bring non‑exchange dealers and custodians under an SFC framework modelled on existing Type 1 securities requirements: dealers will need authorization to provide dealing services (including OTC execution) and meet standards similar to traditional securities firms, adapted for crypto risks; custodians must demonstrate secure private‑key management, asset segregation, internal controls and operational resilience. The reforms close a regulatory gap in Hong Kong’s ASPIRe roadmap, aim to attract institutional investors by improving custody and counterparty transparency, and encourage firms to engage in early “pre‑application discussions” with regulators. Officials signalled the next phase will cover virtual asset advisors and asset managers. For traders, the rules could raise onboarding and compliance costs for OTC dealers and custodians, reduce custody counterparty risk, and may temporarily affect OTC liquidity as counterparties adjust. The move aligns Hong Kong with global trends toward licensed, supervised crypto markets and is intended to balance market development, risk management and investor protection.

Glassnode reports that major spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds have recorded sustained net outflows since early November, with the 30-day simple moving average (30D‑SMA) of flows turning and remaining negative. Combined outflows across conventional markets total roughly $952 million over the seven- to eight-week period. Although outflow intensity has eased recently, the persistent negative 30D‑SMA points to muted institutional participation and partial disengagement from crypto allocations. Analysts link the trend to broader risk-off conditions—equities and commodities (gold, silver, copper) have outperformed while BTC traded defensively. Historical precedent shows similar outflow phases (March–April) later reversed into large inflows and a multi-month BTC rally, so reversals remain possible. For traders: expect elevated ETF-related selling pressure on BTC and ETH, tighter liquidity, and higher short-term volatility and downside risk. Key indicators to watch are ETF net flows, the 30D‑SMA trend, spot price reactions, and capital shifts into competing assets; select funds (notably BlackRock’s IBIT) have shown relative resilience, attracting inflows and long-term capital despite negative YTD returns.

Bitcoin (BTC) briefly surpassed the $88,000 level on OKX, trading around $88,018.60 and recording a daily gain of about 1.12% on December 25, according to PANews. An earlier note recorded a similar intraday high near $88,008.70 with a 0.64% intraday rise. Both reports are short market updates and explicitly do not constitute investment advice. Neither article cited on-chain indicators, trading volumes, broader market drivers or other tokens/events. For traders, the move represents a short-term bullish uptick in BTC price but lacks accompanying data to assess momentum or conviction.

On-chain monitoring reported two related large Zcash (ZEC) withdrawals from Binance that point to whale accumulation and reduced exchange liquidity. Earlier reports flagged structured outflows of ~206,334 ZEC (~$93.36M) in two transactions, interpreted as transfers to private or cold storage rather than immediate sell orders. A later on-chain update identified a specific newly created address withdrawing 50,000 ZEC (≈$22.17M) from Binance, coinciding with an intraday ~10% price surge around $446.56. Analysts view these moves as classic whale accumulation — buying pressure or long-term hodling that lowers exchange-listed supply and can tighten short-term liquidity. Derivatives metrics remain muted (neutral funding rates), and prior profit-taking and concentrated sell liquidity around $380–$400 mean volatility and distribution risk persist. Traders should monitor continued exchange outflows, balance changes, support near accumulation levels, and overall market sentiment. The on-chain withdrawals are a potentially bullish supply-side factor for ZEC, but price direction will still depend on broader market conditions; this is informational and not financial advice.

Kyrgyzstan’s government-backed stablecoin KGST has been listed on Binance, marking the first CIS country nation-backed stablecoin to appear on the exchange and the BNB Chain. The project was developed with Binance and local authorities after months of development, test deployments and a smart‑contract audit. Kyrgyz officials say KGST aims to support cross‑border payments and expand use of the som in the digital economy. Details on reserve backing, peg mechanics and specific trading pairs were not disclosed in the announcements. Binance listings typically raise accessibility, on‑chain liquidity and trading volume; however, market impact may be limited by the som’s small global footprint. Traders should watch for listed trading pairs (likely vs USDT or BTC), initial liquidity and order‑book depth, deposit/withdrawal availability, reserve audits or transparency reports, and any regulatory statements from Kyrgyz or international authorities. Primary keywords: KGST, Kyrgyzstan stablecoin, Binance listing. Secondary keywords: stablecoin reserves, fiat‑backed token, liquidity, regulatory scrutiny.

HashKey Capital has completed the first close of its HashKey Fintech Multi‑Strategy Fund IV with $250 million in commitments, backed by global institutions, family offices and high‑net‑worth individuals. The Hong Kong–based, China‑founded asset manager — which oversees over $1 billion across more than 400 portfolio projects — targets a $500 million final close. Fund IV will allocate across multi‑strategy positions in blockchain infrastructure, scaling solutions (Layer‑1/Layer‑2), DeFi, NFTs, mass‑adoption use cases and crossover plays between traditional finance and blockchain. Management cites tightened liquidity and reduced market‑maker exposure after October’s liquidation events as drivers for demand for patient, long‑duration capital. HashKey highlighted priority focus areas including emerging‑market payments, digital identity and cross‑border expansion, alongside regulatory‑compliant product structures in Hong Kong to attract institutional investors. The raise signals continued institutional commitment to private crypto vehicles despite softer public‑market flows; traders should watch for increased venture liquidity, potential support for token listings or secondary markets from portfolio companies, and greater deal flow into infrastructure and scaling protocols.

The EU’s Directive on Administrative Cooperation (DAC8) takes effect on January 1, 2026, formally bringing crypto-asset service providers (exchanges, brokers and similar platforms) into mandatory tax reporting under the OECD’s Crypto-Asset Reporting Framework (CARF). Firms must collect and report detailed user and transaction data to national tax authorities, which will share it across member states. Providers are required to update systems, controls and customer checks by July 1, 2026; the first investor tax filings are due January 31, 2027. DAC8 aligns crypto reporting with Common Reporting Standard–style transparency for holdings, trades and transfers and grants tax authorities enhanced cross-border cooperation tools — including powers to freeze or seize crypto assets linked to unpaid taxes. The directive complements MiCA by focusing on tax transparency rather than licensing or market conduct. For traders and firms, DAC8 means higher compliance costs, more on-chain/off-chain traceability for investors, increased reporting overhead and heightened enforcement risk for tax avoidance; noncompliance will trigger penalties under national laws.

Hyperliquid confirmed that a terminated employee controlled a wallet that opened substantial leveraged short positions against its native HYPE token, based on on-chain tracing. The implicated address (0x7Ae4) — reportedly funded via intermediary Arbitrum/Polygon addresses (0xA2c5 → 0x5a62) — opened roughly $223,000 in leveraged shorts on Dec 17 (about $180,000 HYPE at 10x and $43,000 BTC at 40x). Chain data shows the Polygon intermediary previously received ~ $66,000 USDC from Hyperliquid between September and November, and around $53,000 was returned to Hyperliquid on Dec 17. Hyperliquid says the individual was fired in Q1 2024 for insider trading and reiterated a zero-tolerance policy banning employees and contractors from trading HYPE derivatives. The exchange pushed back against claims of insolvency and market manipulation, stating all USDC on its HyperCore is verifiably on-chain, denying retroactive volume manipulation and special privileges, and noting alleged admin functions are testnet-only or misinterpreted. For traders: monitor HYPE liquidity, on-chain positions and funding rates closely — the presence of large insider-linked shorts and potential forced liquidations increases short-term volatility and execution risk around HYPE.

BlackRock transferred approximately $229.2 million of crypto into Coinbase Prime, depositing 2,292 BTC (~$199.8M) and 9,976 ETH (~$29.2M), according to on‑chain trackers Arkham Intelligence and Lookonchain. Earlier reports cited slightly different amounts (2,019 BTC and 29,928 ETH), but the later, higher‑precision Lookonchain update consolidated the move as a single institutional deposit. The transfer signals notable institutional activity between the world’s largest asset manager and Coinbase’s institutional custody/trading platform, though the purpose — custody, trading, staking or fund reallocation — was not disclosed. Markets watch such flows closely because they can precede large trades or rebalancing by ETFs and fund managers; recent weekly outflows from BlackRock’s Bitcoin and Ethereum ETF products underscore active fund flows that could drive subsequent trading. Traders should note potential short‑term volatility around BTC and ETH as the market digests whether this deposit represents a precursor to selling, redeployment, or simple custody transfer.

Galaxy Research director Alex Thorn says Bitcoin’s October nominal peak of about $126,000 does not exceed $100,000 when adjusted to 2020 dollars using the US Consumer Price Index (CPI). Thorn’s calculation — an inflation‑adjusted peak near $99,848 (2020 USD) — reflects roughly 20% erosion in dollar purchasing power since 2020 and uses CPI data (with a recent annual CPI around 2.7% as of November). The report argues that persistent inflation and a weaker dollar underpin narratives about currency debasement and influence investor psychology around symbolic thresholds such as $100,000. Analysts in the report note Bitcoin remains sensitive to Federal Reserve policy expectations: slow disinflation keeps the Fed cautious, while a softer dollar (DXY down ~11% YTD) supports flows into crypto. Thorn recommends traders and market participants prioritise inflation‑adjusted metrics and macro context when assessing all‑time highs to improve risk management and better interpret price action in volatile markets.

CoinMarketCap’s Altcoin Season Index ticked higher in recent updates (reported at 18 and 22 in two separate snapshots), signaling early altcoin rotation but remaining far below the ~75 threshold that defines a full altcoin season. The index measures how many of the top 100 coins (excluding stablecoins/wrapped assets) have outperformed Bitcoin over 90 days; a higher reading implies broader altcoin strength versus BTC. Traders should treat the rise as an early warning of capital gradually shifting from Bitcoin into selected altcoins rather than confirmation of a broad market switch. Practical trader actions: monitor the index regularly and set alerts for sustained increases, track Bitcoin dominance and BTC price action, prioritize fundamental research on individual altcoins, manage position sizing given higher altcoin volatility, consider dollar-cost averaging into high-conviction projects, and rebalance portfolios cautiously. Historical patterns suggest sustained readings above ~50 often precede larger altcoin rallies, so a continued climb from current levels would increase short-term trading opportunities but requires confirmation from market breadth, sentiment, and macro factors. This is informational and not trading advice.