- Popular CEX Cryptocurrencies
Top 10 CEX Trading Volumes and 24-Hour Price Changes:
- BTC: -0.66%
- ETH: +0.08%
- SOL: -3.84%
- BNB: -1.27%
- DOGE: -3.12%
- ASTER: -6.32%
- ZEC: +3.6%
- GLMR: -3.78%
- UNI: +0.18%
- TRX: -0.11%
24-Hour Price Increase Rankings (Data Source: OKX):
- RESOLV: +8.39%
- MMT: +6.34%
- WET: +6.21%
- WCT: +4.07%
- ACT: +2.67%
- AERGO: +1.41%
- ZENT: +0.99%
- DOOD: +0.96%
- MAJOR: +0.4%
- CATI: +0.29%
24-Hour Stock Price Increase Rankings (Data Source: msx.com):
- DJT: +39.26%
- CRWV: +11.34%
- RKLB: +9.39%
- FLY: +8.8%
- MU: +8.12%
- ALTS: +7.26%
- IREN: +7.05%
- SNDK: +5.51%
- PLTR: +4.69%
- VST: +4.08%
- On-Chain Popular Meme Top 5 (Data Source: GMGN):
- https
- pippin
- jellyjelly
- KMNO
- ALCH
Headlines
David Sacks, the White House Director of Cryptocurrency and Artificial Intelligence, stated that the cryptocurrency market structure bill "CLARITY Act" is one step closer to formal legislation, with a review and revision expected in the Senate in January next year.
Previously, he posted on the X platform that Senate Banking Committee Chairman Tim Scott and Agriculture Committee Chairman John Boozman have confirmed that this bipartisan-supported cryptocurrency bill will be finalized in the Senate next month.
It is reported that the CLARITY Act will clearly define crypto securities and commodities, and clarify the roles of the Securities and Exchange Commission, the Commodity Futures Trading Commission, and other financial regulatory agencies. Supporters believe it will reduce regulatory uncertainty for crypto companies by establishing clearer compliance pathways, encouraging innovation, and enhancing investor protection.
Kevin Hassett, Director of the White House National Economic Council, welcomed the November CPI report, stating that the U.S. economy is showing high growth with declining inflation. He said, "I am not saying we have declared victory on price issues, but this is a surprisingly good CPI report." Hassett noted that wage growth is outpacing price growth, and U.S. taxpayers will see significant refunds next year, with the government helping to lower mortgage rates. He stated, "The Federal Reserve has significant room for rate cuts." Hassett is a popular candidate to succeed Powell as the next Federal Reserve Chair, and he also mentioned that the Federal Reserve should be more transparent in the future. "I believe the Federal Reserve must double its transparency. Whoever leads the Federal Reserve should lay all their cards on the table so we can understand what is really happening at that institution."
Market News: NYSE Parent Company ICE Plans to Invest in MoonPay at a Valuation of $5 Billion
According to insiders, the Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, is negotiating to participate in a funding round for cryptocurrency payment company MoonPay Inc., with a target valuation of approximately $5 billion. Both ICE and MoonPay declined to comment.
It is reported that MoonPay, founded in 2019, is a well-known cryptocurrency payment company. In the last funding round at the end of 2021, the valuation was $3.4 billion.
Citi Increases Federal Reserve Rate Cut Bets: Expects Three Rate Cuts Next Year
Citi: Expects the Federal Reserve to cut rates by 25 basis points again in September 2026; also maintains previous predictions of 25 basis point cuts in January and March.
Industry News
Trump Media Merges with TAE Technologies, Total Transaction Value Exceeds $6 Billion
Trump Media & Technology (DJT.O) has reached an all-stock merger agreement with nuclear fusion energy company TAE Technologies, with a total transaction value exceeding $6 billion. The two companies announced on Thursday that the merged entity will be controlled by Trump Media, which includes businesses such as Truth Social, Truth+, TAE Power Solutions, and TAE Life Sciences. The transaction is expected to be completed by mid-2026, at which point shareholders of both companies will each own approximately 50% of the merged entity.
Trump Media Chairman and CEO Devin Nunes will serve as co-CEO of the new company alongside TAE CEO and Director Michl Binderbauer. TAE Technologies primarily provides clean energy solutions, as well as power management for electric vehicles and targeted cancer treatment technologies. In pre-market trading, Trump Media & Technology's stock price rose over 31%.
Polymarket data shows that the market now estimates a 91% probability that Trump will not announce the next Federal Reserve Chair candidate before December 31, 2025. Among the potential candidates announced this year, Kevin Hassett's probability of winning has dropped to 4%, while Chris Waller and Kevin Warsh's probabilities are 3% and 2%, respectively.
Despite previous high expectations for Trump to lock in the Federal Reserve leadership early, current betting trends suggest that the appointment process may be delayed longer than expected.
According to on-chain analyst AI Yi's monitoring, the "October 11 flash crash insider whale" has a long position worth $695 million, with an accumulated unrealized loss of $77.22 million, including an unrealized loss of $65.88 million in ETH, $6.17 million in BTC, and $5.16 million in SOL. Additionally, Japan's interest rate decision is about to be announced, which may affect the market trend and the positions of insider whales.
If MSCI plans to exclude crypto asset treasury companies from its index, these companies may be forced to sell up to $15 billion worth of cryptocurrencies. The group opposing MSCI's proposal, "BitcoinForCorporations," predicts that these companies, based on a "verified preliminary list" of 39 companies, will face outflows of $10 billion to $15 billion, with a total adjusted market capitalization of $113 billion. The group also added that according to estimates from JPMorgan, if Strategy is removed from the MSCI index, the outflow could reach $2.8 billion. Strategy accounts for 74.5% of the affected total adjusted market capitalization.
Analysts estimate that the total potential outflow from all affected companies could reach $11.6 billion. Such a large-scale outflow would put greater selling pressure on the crypto market, which has been on a downward trend for the past three months. At the time of writing, the petition from "BitcoinForCorporations" has gathered 1,268 signatures.
Project News
MEV Trading Will Be Submitted as New Evidence in Pump.fun Class Action Lawsuit
A U.S. court has been asked to weigh in again on the practice of Maximum Extractable Value (MEV). The judge approved a motion to allow the revision and resubmission of new evidence related to MEV trading behavior in the class action lawsuit against Pump.fun, Jito Labs, and the Solana Foundation.
The plaintiffs accuse Pump.fun of using MEV technology to allow insiders to acquire new tokens at low prices, which are then sold to retail participants after being pumped, with retail participants being used as exit liquidity for insiders. Solana Labs, Jito Labs, and others are accused of providing support in this process.
Uniswap founder Hayden Adams posted on the X platform that the Uniswap Unification proposal has been submitted for final governance voting. The voting will start at 10:30 PM EST on December 19 and will end on December 25. If the proposal passes, after a 2-day Timelock period:
100 million UNI will be burned.
The v2 and v3 fee switches will be activated on the mainnet, starting the burning of UNI and Unichain fees.
Uniswap Labs will align with Uniswap governance through a contractual agreement, which is recognized as legally binding under Wyoming's DUNA laws.
Funding and Investment
Decentralized broadband network protocol DAWN announced the completion of $13 million in Series B financing, led by Polychain Capital. The new funds will be used to expand the protocol's network coverage in the United States and advance international market deployment.
DAWN is built on Solana and allows individuals and institutions to become network hosts by deploying wireless nodes, providing users with multi-gigabit broadband services and earning rewards based on coverage quality and actual demand. This model aims to break the highly centralized infrastructure ownership structure of the traditional broadband industry, decentralizing network resources to end users, which belongs to the direction of decentralized physical infrastructure (DePIN) applications.
Currently, DAWN's network covers over 4 million households in the United States and has launched an international pilot in Accra, Ghana, focusing on areas where fiber optic deployment is costly and slow. The project has also introduced a hardware device called Black Box, which functions as both a router and a decentralized infrastructure node, supporting multiple blockchain ecosystems, allowing home users to directly participate in broadband services and earn income.
DePIN Project Fuse Energy Completes $70 Million Series B Financing, Led by Lowercarbon and Balderton
The Solana-based DePIN project Fuse Energy announced the completion of $70 million in Series B financing, led by Lowercarbon and Balderton, with the company's valuation reaching $5 billion.
Regulatory Trends
European Central Bank Plans to Launch Digital Euro in the Second Half of 2026
European Central Bank President Christine Lagarde stated on Thursday that preparations for the digital euro have been completed, and they are awaiting further approvals from government agencies, with a launch expected in the second half of 2026. The European Central Bank views the digital euro as a strategic financial tool.
Christine Lagarde said, "Our goal is to ensure that there is a currency that can serve as the cornerstone of stability in the financial system in the digital age." The European Central Bank also called for EU institutions to adopt digital euro regulatory frameworks as soon as possible.
Japanese financial executives expressed dissatisfaction with the progress of crypto tax reform. Tomoya Asakura, CEO of SBI Global Asset Management, posted on the X platform that Japan's crypto tax reform process is "extremely slow," citing political figures who suggest that related reforms may be delayed by another year, potentially not taking effect until 2028, although this has not been finalized.
Tomoya Asakura stated that if the reform continues to be delayed, Japan will not only fall behind the U.S. in crypto and financial innovation development but also lag behind Asia and the Middle East. SBI is one of Japan's large financial groups and an important partner of Ripple, operating the crypto trading platform SBI VC Exchange. The group previously announced plans to launch a yen stablecoin in the first half of 2026.
Currently, Japanese crypto traders must report crypto asset gains as "miscellaneous income," with a maximum tax rate of up to 55%, and losses cannot be carried forward or deducted. The Financial Services Agency (FSA) has expressed a desire to reclassify crypto assets as investment tools, making them subject to a separate tax regime of about 20%, similar to stocks and forex trading. Related legal amendments are expected to be submitted to the Diet for review in early 2026, but if the usual implementation cycle is considered, the official effective date may be further delayed.
U.S. SEC Releases Guidance on Broker-Dealer Custody of Crypto Assets and Crypto ATS Operations
The U.S. Securities and Exchange Commission (SEC) released the latest staff statement this week through its Division of Trading and Markets, providing operational guidance for regulated broker-dealers holding customer crypto assets and simultaneously releasing a FAQ document regarding crypto alternative trading systems (ATS).
Regarding custody, the SEC pointed out that as long as broker-dealers follow the informal standards outlined in the statement, including properly safeguarding customer private keys and considering scenarios such as blockchain failures, 51% attacks, hard forks, or airdrops, the regulatory body will not take enforcement action. This guidance applies to crypto securities, including tokenized stocks and debt securities, but the relevant definitions still need further clarification.
Additionally, the SEC raised regulatory concerns regarding trading and settlement activities of crypto ATS. Hester Peirce, head of the SEC's crypto working group, stated that trading platforms and market participants need to operate under clear market structure rules to promote a fair and orderly market environment without imposing unnecessary burdens.
Voices
CZ: We Are Still in the Stablecoin 1.0 Phase, Stablecoin 2.0 Has Not Yet Truly Unfolded
CZ stated during the "2025 Year-End Q&A AMA" hosted by BNB Chain that what the market currently sees is still just the stablecoin 1.0 phase, and stablecoin 2.0 has not yet truly begun to develop. The current largest stablecoin by market cap does not provide yields, and Tether holds a significant market share due to its first-mover advantage. He believes that Ethena's approach is relatively successful, as the project has been adopted by many exchanges and can provide yields to users, encouraging the team to continue exploring such models.
CZ also pointed out that the current regulatory environment is more open than before, but the BNB Chain has not deployed a native stablecoin for some time. The BNB team welcomes as many stablecoin-related projects as possible and will provide strong support for them.
Charles Hoskinson, the founder of Cardano (ADA), recently stated in an interview that Trump's introduction of a personal meme coin is "frustrating," as it turns cryptocurrencies into a partisan issue and undermines bipartisan cooperation in Congress. He also opposed Trump's proposed national strategic crypto reserve plan, which includes various cryptocurrencies such as Bitcoin and Ethereum, arguing that the government should not interfere in market choices. He revealed that he was excluded from a private dinner with the president for publicly criticizing these policies, losing the opportunity to participate in the crypto legislation process.
CryptoQuant Analyst: Bitcoin Price Has Fallen Below the Average Purchase Price of Short-Term Holders
CryptoQuant analyst AxelAdlerJr stated that the Bitcoin price has fallen below the average purchase price of short-term holders (as shown in the chart, the STH-SOPR (30D) has dropped to 0.98). Two on-chain indicators show that selling pressure from new market participants is increasing.
The SOPR 30D indicator measures the average token sales of short-term holders: above 1 indicates profitable sales, while below 1 indicates loss sales. The chart shows that the 30-day SOPR moving average has dropped to the 0.98 area, indicating that short-term holders are, on average, selling tokens at a loss. Further declines in this indicator will intensify selling pressure and lead to new local lows.
Currently, the market exhibits a strong risk-averse sentiment for short-term holdings. Key reversal confirmation signals: price rises above the actual price of STH, and SOPR rises above 1.
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