News Preview:
- The U.S. SEC's cryptocurrency working group will hold a roundtable on financial regulation and privacy on December 15;
- Coinbase plans to launch a prediction market and tokenized stocks on December 17;
- HASHKEY plans to raise up to HKD 1.67 billion, expected to be listed for trading on December 17;
- The U.S. Bureau of Labor Statistics will release the November CPI on December 18;
- The Bank of Japan will announce its interest rate decision on December 19, with the market generally expecting a rate hike;
- LayerZero (ZRO) will unlock approximately 25.71 million tokens at 7 PM Beijing time on December 20, with a circulation ratio of 6.79%, valued at approximately $38.6 million.
December 15
Policy Regulation:
The U.S. Securities and Exchange Commission (SEC) cryptocurrency working group announced that it will hold a public roundtable on financial regulation and privacy at the SEC headquarters on December 15 local time to discuss relevant policy issues in depth. The meeting will be streamed live online. Guests will include executives from companies such as Espresso Systems, Zcash, Aleo Network Foundation, Digital Asset, and representatives from academia.
Exchanges:
Cboe Futures Exchange will launch Bitcoin and Ethereum continuous futures contracts on December 15
According to market news, Cboe Futures Exchange will launch Bitcoin and Ethereum continuous futures contracts on December 15.
Cryptocurrency exchange Coinbase will stop paying USDC rewards to non-paying users next week, with only Coinbase One premium subscribers eligible to earn 4% on their held stablecoins. The exchange first announced this change via an email sent to Coinbase customers on Thursday, stating that the change will take effect on December 15. A Coinbase spokesperson confirmed that USDC rewards have now become an exclusive benefit for Coinbase One members.
Binance Wallet will stop supporting ARC-20 assets on December 15
Binance Wallet will stop supporting ARC-20 assets starting at 6:00 PM (UTC+8) on December 15, 2025. After this date, users will not be able to view, send, or receive ARC-20 assets within Binance Wallet. Users' ARC-20 assets will still be securely stored on the Bitcoin blockchain. This change only affects the display and management of such assets within Binance Wallet; users' assets will not be lost or frozen. Users are strongly advised to manage or transfer ARC-20 assets before the support cessation date.
The Hong Kong police's investigation into the virtual currency trading platform JPEX for alleged fraud has led to the prosecution of 16 individuals. The first case involving 8 defendants will be handed over to the High Court for hearing, with a postponement until December 15 for further proceedings, and some defendants have been granted bail. Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, stated that regulatory updates will be considered following the JPEX case, aiming to optimize regulations in four areas: trading, stablecoins, custody, and digital asset trading firms. Previous news indicated that 16 individuals, including core members and KOLs like Lin Zuo, have been prosecuted, while the mastermind remains at large.
Project Updates:
Aster S3 airdrop will open on December 15
Aster announced on the X platform that the S3 airdrop eligibility check is now live, but the airdrop has not yet started. This page currently only supports eligibility verification. Claiming time: from 8:00 PM Beijing time on December 15, 2025, to 8:00 PM on January 15, 2026.
Yala will announce the detailed redemption plan for retail users on December 15
According to Yala's announcement, all native BTC under institutional models will exit the protocol, but due to some assets being locked in the Euler pool, YBTC will not be completely destroyed, and related YU will not circulate. This operation does not affect retail users' balances and redemption rights, and the detailed redemption plan will be announced on December 15. Yala will shift towards an AI-driven prediction module and update its development roadmap.
Decentralized AI computing protocol gensyn will launch a public sale on December 15.
Decentralized AI computing protocol gensyn announced that it will open a public sale on December 15, with a total of 10 billion AI tokens, and 300 million tokens available for public sale, with a low FDV of $1 million, priced at $0.0001 per token. The FDV cap is $1 billion (the price from the previous round of venture capital with a16z, at $0.1 per token). The sale will take place on the Ethereum mainnet, and tokens will be distributed on the Gensyn network (L2). This public sale accepts USDT and USDC payments, with a minimum purchase amount of $100. Purchasers will unlock their tokens at TGE, but U.S. buyers will have a 12-month lock-up period. Participants who choose an optional lock-up period will receive a 10% reward multiplier based on their allocation. The AI token public sale will end on December 20, and token claims will open in early February 2026.
The Level team announced that it will be acquired by a leading DeFi protocol and will gradually shut down the Level protocol and its products, lvlUSD and slvlUSD. All users can complete slvlUSD unwrapping and lvlUSD redemption within 2 seconds, with the related cooling period also shortened. The last profit distribution will occur on October 2, 2025, and the front-end page will go offline on December 15, during which users can still operate their assets through smart contracts. The redemption ratio for lvlUSD is fixed at 1:1, and the minting function has been suspended.
Token Unlocks:
Starknet (STRK) will unlock 127 million tokens at 8 AM Beijing time on December 15, with a circulation ratio of 5.07%, valued at approximately $13.2 million.
Sei Network (SEI) will unlock approximately 55.56 million tokens at 8 PM Beijing time on December 15, with a circulation ratio of 1.08%, valued at approximately $7.1 million.
December 16
Exchanges:
Upbit will list GRS as a trading alert and suspend deposits, with a review period until December 16
Upbit exchange announced that it will list Groestlcoin (GRS) as a trading "alert" and suspend deposits for GRS/KRW and GRS/BTC. Upbit stated that based on the DAXA joint mechanism and trading support review, GRS has deficiencies in publicity, business viability, and sustainability, which may lead to user losses. The alert period is from December 2, 11:00 to December 16, 23:59 (KST), during which deposits will not be credited and will be returned according to the process; after the review, trading support may be extended, lifted, or terminated, with changes announced separately.
Coinbase announced on the X platform that it plans to suspend order book trading for the ANKR-GBP, AXS-EUR, AXS-USDT, CGLD-EUR, CGLD-GBP, LRC-USDT, and LRC-BTC trading pairs at 1 AM Beijing time on December 16, aiming to further improve overall market health and integrate liquidity. Eligible Coinbase Advanced users can still trade the related tokens on the USD order book, and the aforementioned trading pairs have now switched to limit order mode, with market orders unable to be submitted.
Project Updates:
The decentralized energy network Daylight has launched the decentralized energy capital market DayFi, announcing that the DayFi pre-deposit vault will open at 9:00 PM Beijing time on December 16, marking the start of the GRID Games event. The initial cap for the pre-deposit vault is set at $50 million, accepting deposits in USDS and USDT, with a lock-up period of 2 months. The funds will be managed by K3 Capital and deployed to Plasma's DeFi market, allowing participants to earn WXPL rewards and GRID Games points. Previously, it was reported that the decentralized energy network Daylight raised $75 million, led by Framework Ventures, with participation from a16z crypto, Lerer Hippeau, M13, and others.
Token Unlocks:
Arbitrum (ARB) will unlock approximately 92.65 million tokens at 9 PM Beijing time on December 16, with a circulation ratio of 1.90%, valued at approximately $19.7 million.
December 17
Exchanges:
Bloomberg: Coinbase plans to launch a prediction market and tokenized stocks on December 17
According to Bloomberg, sources revealed that Coinbase Global Inc. plans to announce the launch of a prediction market and tokenized stocks next week, with these products officially introduced at a product showcase event on December 17. The source also mentioned that Coinbase's tokenized stocks will be launched internally rather than through partners. Coinbase executives had previously expressed interest in entering these businesses, but no formal plans had been announced. Screenshots hinting at these features have been circulating on social media platform X for weeks. A Coinbase spokesperson declined to comment on the company's specific plans but stated, "Please tune in to the live stream on December 17 to learn about the new products Coinbase will launch." This move is part of the company's efforts to become a "one-stop application," aiming to provide traders with broad access to assets and markets while keeping pace with competitors that are also diversifying.
According to the Hong Kong Economic Journal, HASHKEY HLDGS (new listing number: 03887) will conduct its IPO from December 9 to 12. The parent company of the Hong Kong licensed virtual asset exchange Hashkey Exchange, HASHKEY, plans to issue 240 million shares, with 10% available for public offering in Hong Kong. The offering price ranges from HKD 5.95 to HKD 6.95, aiming to raise up to HKD 1.67 billion, with a minimum entry fee of HKD 2,808 for 400 shares. HASHKEY is expected to be listed on December 17. JPMorgan, Cathay Securities, and Guotai Junan International are the joint sponsors.
In terms of equity, HASHKEY investor and Wanxiang Group Chairman Lu Weiding is one of the controlling shareholders, holding 43.2% of the shares, and has the right to exercise 22.9% of the voting rights through the employee stock ownership plan platform; Hashkey founder Xiao Feng holds 16.3% equity; other investors hold 17.6%. HASHKEY has introduced a total of 9 cornerstone investors, including UBS AM Singapore, Fidelity, CDH, Xinting Fund, Infini, Zhiyuan Holdings (00990), Litong, Space Z PTE. LTD., and Shining Light Grace Limited, with an investment amount of $75 million (approximately HKD 590 million).
Valour plans to list four digital asset ETPs on Brazil's B3 exchange on December 17
DeFi Technologies Inc. announced that its subsidiary Valour has received approval from Brazil's B3 exchange to list four digital asset exchange-traded products (ETPs), including Valour Bitcoin (BTCV), Valour Ethereum (ETHV), Valour XRP (XRPV), and Valour SUI (VSUI), expected to start trading on December 17.
Binance will delist FIS, REI, and VOXEL on December 17
The platform will delist the three tokens FIS, REI, and VOXEL on December 17, 2025. The current market capitalizations are approximately $6 million for FIS, $16 million for REI, and $7 million for VOXEL.
The sports prediction application Football.Fun will conduct a public token sale on Legion on December 16.
The sports prediction application Football.Fun will conduct a public token sale on Legion on December 16, and users must hold USD1 on Ethereum to participate.
Project Updates:
Synthetix: Returning to the Ethereum mainnet on December 17
Synthetix announced that it will return to the Ethereum mainnet on December 17. Synthetix liquidity providers (SLP) will also be launched at the time of release, with access to SLP being whitelisted, and plans to open it to the public as soon as possible. Previously, Synthetix migrated from the Ethereum mainnet to Optimism in 2022.
Berachain's liquid staking protocol Infrared will conduct TGE on December 17
Berachain's liquid staking protocol Infrared has released details of the IR token airdrop. This airdrop aims to reward early community members who continuously used Infrared during the points program period, participants of the Boyco pre-deposit event, and users actively participating in community activities (such as Discord interactions, user surveys, community events, testnet participation, etc.).
The IR token has three main functions: staking to earn sIR for governance voting rights; participating in profit sharing through buybacks; and token issuance to optimize protocol efficiency and revenue. Users can claim the airdrop in advance through the CEX pre-deposit process, with three centralized exchanges participating: Bitget, Gate, and KuCoin. Important dates are as follows:
- December 13, 8:00 PM (UTC+8), centralized exchange pre-deposit window opens.
- December 16, 1:00 AM (UTC+8), centralized exchange pre-deposit window closes.
- December 17, 4:00 PM (UTC+8), IR token officially launches.
- January 12, 2026, 8:00 AM (UTC+8), all claims will permanently close.
The decentralized security project Hats Finance announced on the X platform that Hats.finance will conduct a final shutdown of its custody operations, as it believes that continuing to operate a centralized user interface (UI) and servers is no longer sustainable, and there are currently no plans to adopt a new legal or operational framework to continue this custody structure. The current arrangements are as follows: The user front-end and back-end (UI and servers) of Hats.finance are expected to go offline on December 31, 2025, and most functions relying on this custody structure will gradually be phased out; the Hats protocol remains deployed on-chain and is managed by DAO, with core contracts designed to run continuously according to code; currently, a version based on IPFS is available for users, and as long as this version continues to provide services, users may access it through public gateways. However, due to the cessation of payments to current fixed service providers (such as Pinata), its continued availability and performance cannot be guaranteed. Users can submit withdrawal requests through the custody UI before December 17, after which they will need to interact directly with the contract to complete withdrawals.
December 18
Macroeconomics:
The U.S. Bureau of Labor Statistics announced that the November CPI report will be released on December 18. The release of the October real income report will also be canceled, with the November real income report set to be released on December 18. The third-quarter employment cost index will be released on December 10.
Next week's U.S. CPI data release will be a key turning point for the dollar's movement. If the CPI data is lower than expected (the latest data is currently 3%, still above the Federal Reserve's 2% target), it will further confirm the rationale for the Federal Reserve's rate-cutting cycle, and the dollar may face further downward pressure; conversely, it may reverse this trend.
Project Updates:
The privacy-focused blockchain project Octra, backed by Octra Labs, will hold a public token sale on December 18 on the Sonar by Echo platform. Octra announced on Tuesday that this week-long sale aims to sell 10% of the OCT token supply at a fully diluted valuation (FDV) of $200 million, targeting to raise $20 million. The sale will adopt a fixed price, commitment-based format, allowing any number of participants to deposit funds and receive tokens proportionally, designed to achieve maximum decentralization. Octra stated that if demand is strong, the sale allocation may increase, and any unsold tokens will be burned, with all sold tokens unlocked and distributed shortly after the sale ends.
December 19
Macroeconomics:
The Bank of Japan will announce its interest rate decision on December 19
The market widely expects the Bank of Japan to implement a landmark interest rate hike on Friday, contrasting sharply with the global trend of rate cuts over the past year.
December 20
Token Unlocks:
LayerZero (ZRO) will unlock approximately 25.71 million tokens at 7 PM Beijing time on December 20, with a circulation ratio of 6.79%, valued at approximately $38.6 million.
Lista DAO (LISTA) will unlock approximately 33.44 million tokens at 5 PM Beijing time on December 20, with a circulation ratio of 6.85%, valued at approximately $5.5 million.
December 21
None
Date TBD
Policy and Regulation:
The U.S. crypto market structure bill draft may be revised and voted on at next week's hearing
New York Democratic Senator Kirsten Gillibrand and Wyoming Republican Senator Cynthia Lummis spoke on Tuesday at the Blockchain Association policy summit in Washington, D.C., detailing the progress legislators are making in pushing for comprehensive regulation of the cryptocurrency industry through the crypto market structure bill. Gillibrand revealed that negotiations between Democrats and Republicans on the crypto bill have been ongoing, with last week's first bipartisan meeting progressing smoothly, with no factors hindering the bill's advancement. On Monday evening, after a meeting with Democrats, she presented final requests to Republican staff for inclusion in the bill and stated that she had submitted those requests to the other side. She also mentioned that she and Lummis would further discuss some of the requests and expressed optimism that the completed bill would be very comprehensive, as the House has not resolved all the issues they need to address in their draft, such as how to regulate decentralized finance exchanges.
Lummis, as a member of the Senate Banking Committee, pointed out that the current goal is to share the bill draft by the end of this week and hold a hearing next week to revise and vote on the bill. She also mentioned that negotiations have extended to the White House level, and while Democrats and Republicans are negotiating, they are also collaborating with the industry and the White House, akin to a next-level three-dimensional chess game. Additionally, Lummis stated that she and Democratic Senator Ruben Gallego have negotiated ethical provisions and sent the terms to the White House, but the White House returned the terms, stating they could do better, and she plans to try again to communicate with the White House.
Project Updates:
MegaETH: Mainnet Beta "Frontier" will open to application developers next week
MegaETH announced on the X platform that it will open Frontier to application developers next week. The infrastructure team has completed deployment on the mainnet, and more teams will join in the coming days. Over the next few weeks, they will support applications in completing deployment and testing before user onboarding.
Jupiter will launch the stablecoin JupUSD next week
Jupiter's Chief Operating Officer Kash Dhanda announced at the Solana Breakpoint event that Jupiter will launch its stablecoin JupUSD next week. JupUSD is set to go live, with real-time trading and yield features activated simultaneously. Dhanda added that a third use case is planned for release in the first quarter of 2026, describing it as "very interesting." Previously, in October, it was reported that Ethena and Jupiter announced a collaboration to launch the Solana ecosystem's native stablecoin JupUSD.
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