BTCC, the world’s longest-serving cryptocurrency exchange, has been named Best Centralized Exchange in the Community Choice category at The BeInCrypto 100 Awards 2025. The award was announced during a live virtual ceremony on December 10, 2025.
The BeInCrypto 100 Awards is an annual event celebrating the leaders, products and initiatives shaping the future of Web3, organized by BeInCrypto, a reputable independent news and media platform, in partnership with Binance Square. In the “Best Centralized Exchanges” category, BTCC received the highest number of votes from global cryptocurrency users.
“Winning the community vote for ‘Best Centralized Exchange’ is incredibly meaningful,” said Aaryn Ling, Head of Branding at BTCC. “This award reflects the trust that our 10 million users place in BTCC every day. It validates our 14-year commitment to transparency, security, and putting our community first.”
A Track Record That Speaks for Itself
BTCC’s recognition is supported by strong operational metrics throughout 2025. The platform now offers over 400 futures trading pairs and more than 460 spot trading pairs, providing comprehensive access to the latest and most popular markets for over 10 million global users. In Q3 2025 alone, BTCC achieved a record of $1.15 trillion in both futures and spot trading volume, marking 20% quarter-over-quarter growth.
Underpinning these achievements is BTCC’s 14-year security record. Since its founding in 2011, the exchange has maintained a zero-incident track record with no security breaches, a rare distinction in an industry where trust and security are paramount.
The BeInCrypto award caps a year of industry recognition for BTCC. The exchange earned triple honors from FXEmpire in 2025 as the Lowest Fee Crypto Exchange, Best Fiat-to-Crypto Trading Platform, and Best Crypto Exchange in the USA. BTCC’s growing mainstream presence is further reflected in its partnership with NBA All-Star Jaren Jackson Jr., the 2023 Defensive Player of the Year, as global brand ambassador, connecting the mass public audience with crypto accessibility.
Community Celebration: 10M USDT Flagship Campaign and Giveaway
To celebrate this milestone, BTCC is launching a flagship trading competition with a 10 million USDT prize pool, one of the largest reward pools offered by any exchange in recent industry history. The competition invites traders worldwide to compete for significant rewards. Stay tuned to BTCC’s official X account for complete campaign details.
Additionally, BTCC is thanking the community with a special giveaway for their continued support, offering 1,000 USDT to 10 winners. Full details are now available on BTCC’s X account (@BTCCexchange).
Looking ahead to 2026, BTCC plans to expand its spot and futures offerings, introduce new platform features, and deepen its engagement with communities worldwide, building on this year’s momentum to deliver even greater value to its growing global user base.
About BTCC
Founded in 2011, BTCC is a leading global cryptocurrency exchange serving over 10 million users across 100+ countries. Partnered with 2023 Defensive Player of the Year and 2x NBA All-Star Jaren Jackson Jr. as global brand ambassador, BTCC delivers secure, accessible crypto trading services with an unmatched user experience.
Bitcoin (BTC) continues to trade within the recent consolidation phase, hovering around $90,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.
BTC price action approaches a key descending trendline that could determine its next directional move. Meanwhile, institutional flows into Spot Bitcoin ETFs showed mild inflows, and Strategy added more BTC to its treasury reserve.
Fed’s Policy Tone Triggers Consolidation in Bitcoin
Bitcoin price started the week on a positive note, extending its weekend recovery during the first half of the week and holding above $92,600 on Tuesday.
However, momentum softened on Wednesday, with BTC closing at $92,015 after the Federal Open Market Committee (FOMC) meeting.
Adding to the cautious tone, policymakers projected only a one-quarter-percentage-point cut for the overall 2026 outlook. This was the same outlook as in September, which tempered market expectations of two rate cuts and contributed to short-term pressure on risk assets.
The Fed’s cautious tone, combined with disappointing Oracle earnings, contributed to a brief risk-off move.
All these factors weighed on riskier assets, with the largest cryptocurrency by market capitalization sliding to a low of $89,260 before rebounding and finishing above $92,500 on Thursday.
With no major US data releases ahead, crypto markets will now look to FOMC member speeches and broader risk sentiment for direction
at the end of the week.
BTC is likely to consolidate in the near term unless a significant catalyst emerges.
Earlier, Ukrainian President Volodymyr Zelenskyy said that the US was pushing the country to cede land to Russia as part of an agreement to end a nearly four-year war.
These lingering geopolitical tensions and stalled peace talks continue to weigh on global risk sentiment, limiting risk-on appetite and contributing to Bitcoin’s consolidation so far this week.
Institutional Demand Sees Mild Signs of Improvement
Institutional demand for Bitcoin shows mild signs of improvement.
According to SoSoValue data, US-listed spot Bitcoin ETFs recorded a total inflow of $237.44 million through Thursday, following a mild outflow of $87.77 million a week earlier, signaling that institutional investor interest improved somewhat.
However, these weekly inflows remain small relative to those observed in mid-September. For BTC to continue its recovery, the ETF inflows should intensify.
Total Bitcoin Spot ETF Net Inflow Chart. Source: SoSoValue
On the corporate front, Strategy Inc. (MSTR) announced on Monday that it purchased 10,624 Bitcoin for $962.7 million between December 1 and 7 at an average price of $90,615.
The firm currently holds 660,624 BTC, valued at $49.35 billion. Strategy still retains substantial capacity to raise additional capital, potentially allowing for further large-scale Bitcoin accumulation.
The report notes that exchange deposits eased as large players reduced their transfers to exchanges.
The graph below shows that the share of total deposits from large players has declined from a 24-hour average high of 47% in mid-November to 21% as of Wednesday.
At the same time, the average deposit has declined by 36%, from 1.1 BTC in November 22 to 0.7 BTC.
Bitcoin Exchange Flows. Source: CryptoQuant
CryptoQuant concludes that, if selling pressure remains low, a relief rally could push Bitcoin back to $99,000. This level is the lower band of the Trader On-chain Realized Price bands, which is a price resistance during bear markets.
After this level, the key price resistances are $102,000 (one-year moving average) and $112,000 (the Trader On-chain Realized price).
Bitcoin Trader’s Realized Price Bands
The Copper Research report also signaled optimism about Bitcoin. The report suggests that BTC’s four-year cycle hasn’t died; it has been replaced.
Since the launch of spot ETFs, Bitcoin has exhibited repeatable Cost-Basis Return Cycles, as shown in the graph below.
Bitcoin USD Price Vs ETF Cost Basis
Fadi Aboualfa, Head of Research at Copper, told FXStreet that “Since spot ETFs launched, Bitcoin has moved in repeatable mini-cycles where it pulls back to its cost basis and then rebounds by around 70%.
With BTC now trading near its $84,000 cost basis, this pattern suggests a move north of $140,000 in the next 180 days.
If the cost basis rises 10-15%, as in prior cycles, the resulting premium seen at past peaks produces a target range of $138,000 to $148,000.
Bitcoin Santa Rally Ahead?
Bitcoin posted a 17.67% loss in November, disappointing traders who had anticipated a rally based on its strong historical returns for the month (see CoinGlass data below).
December has historically been a positive month for the king crypto, delivering an average return of 4.55%.
Looking at quarterly data, the fourth quarter (Q4) has been the best quarter for BTC in general, with an average return of 77.38%.
Still, the performance in the last three months of 2025 has been underwhelming so far, posting for now a 19% loss.
Is BTC Setting a Bottom?
Bitcoin’s weekly chart shows the price finding support around the 100-week Exponential Moving Average (EMA) at $85,809, posting two consecutive green candles following a four-week correction that began in late October.
As of this week, BTC is trading slightly higher, holding above $92,400.
If BTC continues its recovery, it could extend the rally toward the 50-week EMA at $99,182.
The Relative Strength Index (RSI) on the weekly chart reads 40, pointing upward and indicating fading bearish momentum. For the recovery rally to be sustained, the RSI should move above the neutral level of 50.
BTC/USDT weekly chart
On the daily chart, Bitcoin’s price was rejected at the 61.8% Fibonacci retracement level at $94,253 (drawn from the April low of $74,508 to the all-time high of $126,199 set in October) on Wednesday.
However, on Thursday, BTC rebounded after retesting its $90,000 psychological level.
If BTC breaks above the descending trendline (drawn by connecting multiple highs since early October) and closes above the $94,253
resistance level, it could extend the rally toward the $100,000 psychological level.
The Relative Strength Index (RSI) on the daily chart is stable near the neutral 50 level, suggesting the lack of near-term momentum in either side.
For the bullish momentum to be sustained, the RSI should move above the neutral level.
Meanwhile, the Moving Average Convergence Divergence (MACD) showed a bullish crossover at the end of November, which remains intact, supporting the bullish thesis.
BTC/USDT Daily Chart
If BTC were to resume its downward correction, the first key support is at $85,569, which aligns with the 78.6% Fibonacci retracement level.
Bitcoin has broken from its long-standing correlation with equities, marking its first full-year divergence from stocks in over a decade.
The shift highlights a growing disconnect between crypto and traditional markets, raising questions about Bitcoin’s role in the current cycle.
A Historic Market Decoupling
Bitcoin and stocks have historically moved in tandem. However, that relationship appears to have fractured.
According to Bloomberg data, the S&P 500 has climbed more than 16% this year while Bitcoin is down 3%, marking the first such split since 2014.
BREAKING: Bitcoin is headed for its first full-year split from stocks in over a decade, marking the first time since 2014 equities rallied while crypto fell. pic.twitter.com/Ns25xJ2KV2
Such a clean break is unusual even by crypto standards, prompting renewed scrutiny of Bitcoin’s role within global markets. The divergence challenges expectations that regulatory optimism and institutional participation would automatically translate into sustained performance.
It is especially striking given the broader environment, where artificial intelligence stocks are soaring, capital spending is accelerating, and investors are pouring back into equities. At the same time, traditional defensive assets are attracting attention, suggesting investors are reallocating rather than broadly embracing risk.
Crypto-specific pressures, including forced liquidations and a sharp decline in retail participation, have materially exacerbated Bitcoin’s underperformance. Billions of unwound positions have amplified downside moves, turning what began as a correction into an industry retreat.
As these signals accumulate, market sentiment has weakened, sparking debate over whether this represents a routine correction or a more significant structural change.
Normal Pullback Or Something More?
Bitcoin has long behaved as a momentum-driven asset, but the breakdown in sustained upside suggests that leadership within risk markets has shifted elsewhere.
Inflows into Bitcoin ETFs have slowed, prominent endorsements have grown quieter, and key technical indicators are flashing renewed weakness.
Price action reflects that cooling confidence. Bitcoin has struggled to regain momentum since its October peak near $126,000 and is now hovering closer to $90,000, reinforcing the sense that this divergence is being driven by fading conviction rather than short-term volatility alone.
Despite the current divergence, longer time horizons complicate the narrative.
On a multi-year basis, Bitcoin continues to outperform equities, suggesting the recent split may reflect earlier excess gains unwinding rather than a decisive break in trend.
From that perspective, underperformance could still align with a normal pullback within a broader bull-market cycle, despite calendar-year contrasts.
The Russia-Ukraine war has waged on for nearly 4 years now. Western sanctions were meant to isolate Russia financially. Instead, they forced adaptation.
In 2025, BeInCrypto began documenting how Russia and Russia-linked actors rebuilt payment routes using crypto. What emerged was not a single exchange or token, but a resilient system designed to survive freezes, seizures, and enforcement delays.
This investigation reconstructs that system in chronological order, based on on-chain forensic analysis and interviews with investigators tracking the flows.
The First Warning Signs Were not Criminal
Early signals did not point to ransomware or darknet markets. They pointed to trade.
Authorities began asking new questions on how money crossed borders for imports, how dual-use goods were paid for, and how settlements occurred without banks.
At the same time, on-chain data showed Russian OTC desks surging in activity. Exchanges hosting Russian OTC liquidity also saw volumes spike, especially in Asia.
Meanwhile, Telegram groups and darknet forums discussed sanctions evasion openly. These were not hidden conversations. They described practical methods for moving value across borders without banks.
The method was simple. OTC desks accepted rubles domestically, sometimes as cash. They issued stablecoins or crypto. That crypto then settled abroad, where it could be converted into local currency.
Garantex Operated Russia’s Crypto Laundering Hub
Garantex played a critical role in this ecosystem. It functioned as a liquidity hub for OTC desks, migrants, and trade-linked payments.
Russia Using a UAE Proxy for Sanction Evasion
Even after early sanctions, it continued interacting with regulated exchanges abroad. That activity persisted for months.
When enforcement finally escalated, the expectation was disruption. What followed instead was preparation.
“Even people who were leaving Russia were still using Garantex to move their money out. If you were trying to relocate to places like Dubai, this became one of the main ways to transfer funds once traditional banking routes were cut off. For many Russians trying to leave the country, Garantex became a practical exit route. It was one of the few ways to move money abroad after banks and SWIFT were no longer an option,” said Lex Fisun, CEO of Global Ledger
The Seizure Triggered a Reserve Scramble
On the day Garantex’s infrastructure was seized in March 2025, a linked Ethereum wallet rapidly consolidated more than 3,200 ETH. Within hours, nearly the entire balance moved into Tornado Cash.
That move mattered. Tornado Cash does not facilitate payouts. It breaks transaction history.
ETH Reserve Consolidation and Tornado Cash Transfer Graphic. Source: Global Ledger
Days later, dormant Bitcoin reserves began moving. Wallets untouched since 2022 consolidated BTC. This was not panic selling. It was treasury management under pressure.
BTC Reserve Reactivation Chart
So, it was clear that assets outside stablecoin control remained accessible.
Grinex launched quietly and began supporting USDT. Traced flows passed through TRON and connected to Grinex-linked infrastructure. Users reported balances reappearing under the new name.
“It was probably the most obvious rebrand we’ve seen. The name was nearly the same, the website was nearly the same, and users who lost access to Garantex saw their balances reappear on Grinex,” Fisun told BeInCrypto.
In late July 2025, Garantex publicly announced payouts to former users in Bitcoin and Ethereum. On-chain data confirmed the system was already live.
At least $25 million in crypto had been distributed. Much more remained untouched.
The payout structure followed a clear pattern where reserves were layered through mixers, aggregation wallets, and cross-chain bridges before reaching users.
High-Level Payout Flow Diagram
Ethereum Payouts Relied on Complexity
Ethereum payouts used deliberate obfuscation. Funds moved through Tornado Cash, then into a DeFi protocol, then across multiple chains. Transfers bounced between Ethereum, Optimism, and Arbitrum before landing in payout wallets.
Despite the complexity, only a fraction of the ETH reserves reached users. More than 88% remained untouched, indicating payouts were still in early stages.
Bitcoin Payouts Exposed a Different Weakness
Bitcoin payouts were simpler and more centralized.
Investigators identified multiple payout wallets linked to a single aggregation hub that received nearly 200 BTC. That hub remained active months after the seizure.
More revealing was where the funds touched next.
Source wallets repeatedly interacted with deposit addresses tied to one of the world’s largest centralized exchanges. The transaction “change” consistently routed back there.
Why Western Sanctions Struggled to Keep Up
Western sanctions were not absent. They were late, uneven, and slow to execute.
By the time Garantex was fully disrupted, investigators had already documented billions of dollars moving through its wallets.
Even after sanctions were applied, the exchange continued interacting with regulated platforms abroad, exploiting delays between designation, enforcement, and compliance updates.
“Sanctions work on paper. The problem is execution. Billions can still move because enforcement is slow, fragmented, and often lags behind how fast crypto systems adapt. The issue isn’t that sanctions don’t exist. It’s that they’re enforced too slowly for a system that moves at crypto speed,” said the Global Ledger CEO.
That gap allowed Garantex to adapt. Wallets rotated frequently. Hot wallets changed unpredictably. Remaining balances were moved in ways that mimicked normal exchange activity, making automated compliance systems less effective.
The private sector struggled to keep up. Banks and exchanges balance compliance obligations against transaction speed, customer friction, and operational cost.
In that environment, sanctioned exposure can slip through when activity does not trigger obvious red flags.
By October 2025, the payout infrastructure was still active. Reserves remained. Routes stayed open.
This was not the collapse of an exchange, rather he evolution of a system.
Russia’s crypto strategy in 2025 showed how a sanctioned economy adapts by building parallel rails, preserving liquidity, and rerouting when blocked.
The OCC today conditionally approved five digital asset-oriented companies for national trust bank charters, signaling a measured but tangible expansion of crypto firms into the federal banking system.
The decision challenges claims from parts of the banking industry that crypto cannot comply with regulatory standards. However, it also complicates the sector’s own narrative of a coordinated effort to cut it off from financial services.
The Five Firms Behind Approval
Alongside Ripple National Trust Bank, the Office of the Comptroller of the Currency (OCC) conditionally approved four additional digital asset-focused institutions, signaling a broader regulatory move rather than an isolated exception.
In addition to Ripple, the OCC approved a de novo trust bank application for First National Digital Currency Bank and authorized Circle, BitGo, Fidelity Digital Assets, and Paxos to convert from state charters.
🚨 JUST IN: The OCC just approved conditional national trust bank charters: Ripple. Paxos. BitGo. Fidelity Digital Assets. Circle.
A national trust charter means federal supervision, 50-state reach, and the credibility to custody assets for ETFs, treasuries, and institutions… pic.twitter.com/DWQyX6jKsm
All five approvals remain conditional, requiring each institution to meet specific operational, governance, and compliance standards before final authorization.
“New entrants into the federal banking sector are good for consumers, the banking industry and the economy,” said OCC Comptroller Jonathan Gould in a press release. “They provide access to new products, services and sources of credit to consumers, and ensure a dynamic, competitive and diverse banking system.”
The unifying factor across these firms is their business model and regulatory positioning within the financial system.
None of them intends to operate as a full-service commercial bank offering deposits or traditional lending products. Instead, they focus on custody, settlement, and digital asset infrastructure designed primarily for institutional clients.
For established players like Fidelity and Paxos, a national charter provides a single federal supervisor and nationwide authority. That shift replaces fragmented state-level oversight, simplifying regulatory engagement for institutional-scale operations.
For newer entrants such as Ripple National Trust Bank and First National Digital Currency Bank, the approvals open federal access without consumer banking exposure.
Taken together, the approvals suggest the OCC is not blocking crypto firms, but refining which models gain entry.
Crypto industry leaders have repeatedly argued that banks, encouraged by regulators, systematically restricted access to basic financial services. This narrative gained traction under the label “Operation Choke Point 2.0,” drawing comparisons to past regulatory crackdowns closely attributed to former SEC Chair Gary Gensler.
Banks and regulators pushed back, arguing they made decisions based on risk management, compliance, and reputational concerns rather than ideology.
Those tensions resurfaced on Wednesday, when the OCC released preliminary findings from its review of alleged debanking by the largest US banks.
Debanking Was Real, But Limited
In its December 10 review, the OCC concluded that between 2020 and 2023, the nation’s largest banks engaged in debanking practices.
The agency said banks made inappropriate distinctions among lawful businesses, restricting access or imposing heightened reviews driven by reputational concerns.
The OCC is committed to ending efforts that weaponize finance. Read the OCC’s preliminary findings from its supervisory review of debanking activities at the nine largest national banks. https://t.co/pFMi7Rt8khpic.twitter.com/XWfbCheo91
Digital asset activities were explicitly listed among the affected sectors, alongside firearms, energy, adult entertainment, and payday lending.
However, the OCC’s framing is narrower than the industry’s “Operation Choke Point 2.0” rhetoric. The report focuses on bank-created policies and escalation processes, not a centralized directive ordering banks to cut off crypto firms.
That distinction matters for how this newly unfolding debate is interpreted.
Much of the period under review overlaps with the 2022–2023 crypto downturn and its spillover into banking.
The review was released under Gould, who was appointed earlier this year by President Donald Trump. Gould framed the findings as part of an effort to limit “weaponized” finance and reputational-risk-driven exclusions.
Against that backdrop, the OCC’s conditional approvals for five crypto-oriented trust banks complicate claims of ongoing systemic exclusion.
Even as banks and trade groups warn of regulatory asymmetry, the approvals indicate that federal access is expanding for compliance-focused trust bank models.
Tether has submitted a binding all-cash proposal to acquire Exor’s entire 65.4% stake in Juventus Football Club, the most successful club in Italian football history and a 36-time Serie A champion.
If approved by regulators and accepted by Exor, Tether said it would launch a public tender offer for the remaining shares at the same price, fully funded with its own capital. The company also committed to invest up to €1 billion to support and develop the club following completion.
What the Juventus Deal Means for Tether
The proposal, announced on December 12, marks one of the most ambitious moves yet by a crypto company into elite global sport. It signals a strategic shift for Tether from a pure stablecoin issuer to a long-term capital allocator in traditional institutions.
In the announcement, Tether CEO Paolo Ardoino described Juventus as a symbol of discipline, resilience, and continuity—values he said mirror how Tether has been built.
JUST IN: Tether wants to acquire Italian football club Juventus.
Juventus is a 36-time domestic league champion, making it the most successful club in Italian football history. pic.twitter.com/l1yncxgW9L
Unlike short-term sponsorships or fan token partnerships, ownership places Tether at the centre of governance and long-term strategy.
Tether Will Invest €1 Billion in Juvestus if the Deal Goes Through.
The move also reinforces Tether’s claim that it is operating from a position of strong balance-sheet health, able to deploy billions in capital without external financing.
Part of a Broader Expansion Strategy
The Juventus proposal follows a series of high-profile moves by Tether and USDT in recent weeks.
Tether recently secured regulatory recognition for USDT as an Accepted Fiat-Referenced Token in Abu Dhabi’s ADGM, expanding regulated use of the stablecoin across multiple blockchains.
At the same time, the company has explored tokenising its own equity, signalling openness to new corporate structures built on blockchain rails.
Together, these developments point to a strategy of diversifying well beyond stablecoin issuance while
Juventus and Crypto: Not a First Connection
Juventus is no stranger to crypto involvement.
The club previously launched the $JUV fan token on the Chiliz and Socios platform, allowing fans to participate in polls and engagement initiatives. Juventus has also partnered with crypto companies as sponsors, including exchange-led branding deals in recent seasons.
JUV Fan Token Surges After Tether Announcement. Source: CoinGecko
However, Tether’s proposal goes far beyond past crypto partnerships. If completed, it would represent full operational control by a digital asset firm—an unprecedented step for a club of Juventus’ stature.
The transaction remains subject to Exor’s acceptance, definitive legal agreements, and regulatory approvals. If those conditions are met, Tether plans to proceed with a public tender offer for remaining shares.
Claims that Wall Street trading firm Jane Street triggers a daily 10 a.m. Bitcoin “dump” resurfaced on December 12, after BTC saw a sharp intraday drop.
Social media speculation once again pointed to institutional traders and ETF market makers. A closer look at the data, however, tells a more nuanced story.
The allegation claims these firms push prices lower to trigger liquidations, then buy back cheaper. However, no regulator, exchange, or data source has ever confirmed such coordinated activity.
BREAKING: The 10am manipulation is back.
Bitcoin dropped $2,000 in 35 minutes and wiped out $40 billion from its market cap.
$132 million worth of longs have been liquidated in the past 60 minutes.
Bitcoin Futures Data Doesn’t Show Aggressive Dumping
Bitcoin traded sideways today through the US market open, holding a tight range near $92,000–$93,000. There was no sudden or abnormal sell-off exactly at 10:00 a.m. ET.
The sharp drop came later in the session, closer to mid-day US hours. BTC briefly fell below $90,000 before stabilizing, suggesting delayed pressure rather than an open-driven move.
Bitcoin futures open interest across major exchanges remained broadly stable. Total open interest was nearly flat on the day, indicating no large buildup of new short positions.
On CME, the most relevant venue for institutional trading, open interest declined modestly. That pattern typically reflects risk reduction or hedging, not aggressive directional selling.
Total BTC Futures Open Interest. Source: CoinGlass
If a major proprietary firm were driving a coordinated dump, a sharp spike or collapse in open interest would normally appear. It did not.
Liquidations Explain the Move
Liquidation data provides a clearer explanation. Over the past 24 hours, total crypto liquidations exceeded $430 million, with long positions accounting for the majority.
Bitcoin alone saw more than $68 million in liquidations, while Ethereum liquidations were even higher. This indicates a leverage flush across the market, not a Bitcoin-specific event.
Crypto Liquidations on December 12. Source: CoinGlass
When prices slip below key levels, forced liquidations can accelerate declines. This often creates sharp drops without requiring a single dominant seller.
Most notably, US spot Bitcoin ETFs recorded $77 million outflow on December 11, after two days of steady inflow. Today’s brief price shock was largely reflected in this move.
The move was distributed across exchanges, including Binance, CME, OKX, and Bybit. There was no evidence of selling pressure concentrated on one venue or one instrument.
That matters because coordinated manipulation typically leaves a footprint. This event showed broad, cross-market participation consistent with automated risk unwinds.
Why the Jane Street Narrative Keeps Returning
Bitcoin volatility often clusters around US market hours due to ETF trading, macro data releases, and institutional portfolio adjustments. These structural factors can make price moves appear patterned.
Jane Street Bots already entered Polymarket xD
While most traders chase narratives, one Polymarket account turned 15-minute crypto prediction windows into a mechanical profit engine.
Trader didn't build a sophisticated arbitrage bot.
Jane Street’s visibility in ETF market making makes it an easy target for speculation. But market making involves hedging and inventory management, not directional price attacks.
Today’s move fits a familiar pattern in crypto markets. Leverage builds, price slips, liquidations cascade, and narratives follow.
Ripple has received conditional approval for a federal banking license, which could potentially enable its operation under US banking regulations. If granted, the license would allow Ripple to operate as a federally regulated financial institution under US banking law.
The approval strengthens Ripple’s position in cross-border payments and digital asset settlement infrastructure across regulated financial markets. However, the development may not result in an immediate or substantial impact on XRP’s market price.
OCC Opens Federal Charter Path
The Office of the Comptroller of the Currency (OCC) has opened a pathway for Ripple to charter Ripple National Trust Bank.
To receive full approval, Ripple must still meet specific OCC regulatory and operational requirements before licensing is finalized.
HUGE news! @Ripple just received conditional approval from the @USOCC to charter Ripple National Trust Bank. This is a massive step forward – first for $RLUSD, setting the highest standard for stablecoin compliance with both federal (OCC) & state (NYDFS) oversight.
Even if approved, Ripple would not operate like traditional banks such as Bank of America or JPMorgan Chase. Trust banks are legally restricted from accepting public deposits or offering conventional lending products, such as consumer loans.
Instead, a Ripple National Trust Bank would focus primarily on custody, settlement, and digital asset management services. That distinction matters.
A national trust bank:
Can provide custody, fiduciary, and settlement services
Can hold assets on behalf of clients
Is federally supervised by the OCC
Cannot take retail deposits or issue loans
Does not get FDIC insurance
So Ripple is becoming a regulated financial infrastructure provider.
Despite limitations, the approval represents a meaningful regulatory milestone for the company’s long-term operational strategy. Unlike state money transmitter licenses, which limit operations geographically, a federal charter enables nationwide regulatory coverage.
Such approval may influence broader market sentiment, but its primary significance lies in infrastructure development and long-term institutional adoption, rather than short-term speculative demand for XRP.
CEO Brad Garlinghouse acknowledged the decision publicly, framing it as a response to long-standing resistance from traditional banking industry lobbyists toward crypto-native firms entering federally regulated financial markets.
The crypto market has picked up over the past 24 hours, and traders are now looking for altcoins to watch as weekend flows usually bring sharper moves. Some projects are showing fresh demand after new updates, others are building momentum on the charts, and a few are nearing levels that could decide their next trend.
This BeInCrypto curated list highlights three setups that stand out heading into the weekend — each for a different reason.
Keeta (KTA)
KTA is up about 36% in the past 24 hours. The jump follows Keeta’s new fiat anchor launch, which lets users move money between bank accounts and stablecoins with fewer delays. That upgrade increases real-world use, so traders could watch Keeta closely this weekend.
Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
(1/3) We’re excited to announce that Bridge @Stablecoin is now live as the first Fiat Anchor on Keeta Network!
Bridge enables seamless movement between fiat and stablecoins, allowing users to deposit or withdraw directly to and from their bank accounts with speed and… pic.twitter.com/TlMKn1Ikod
On the 12-hour chart, Keeta has broken above $0.32. The next important level is $0.36, which rejected the last push. A clean close above it can open a move toward $0.43.
The breakout attempt comes with rare support from the Wyckoff volume-color indicator, which is based on simple buying and selling strength.
A green bar shows buyers in full control, a red bar shows sellers controlling the move, a blue bar shows buyers gaining control, and a yellow bar shows sellers gaining control. Keeta has printed two strong green bars for the first time since late November. That shift hints that real demand is backing the breakout rather than a short-term spike.
If buying continues and Keeta closes above $0.36, the path to $0.43 opens. If the bars turn blue or yellow again, profit-taking may start. In that case, $0.27 becomes the key support. A break below it exposes $0.21, which flips the short-term trend back to weak.
Keeta remains one of the top altcoins to watch this weekend because its fundamental upgrade and rising buyer strength now line up with a breakout setup above $0.36.
Solana (SOL)
Solana is up about 6% in the past 24 hours, helped by steady news coming out of the ongoing Breakpoint event. The most notable update is JPMorgan using Solana to arrange a tokenized commercial paper issuance. That kind of institutional use case keeps interest high even while the broader chart still faces hurdles. And that makes SOL one of the top altcoins to watch over the next two days.
Day 1 of Breakpoint 2025 is in the books.
Today, the global Solana community gathered in Abu Dhabi to witness an institutional convergence of Wall Street giants, sovereign wealth, DeFi, and internet capital markets.
Between December 7 and December 11, Solana formed a higher low while the RSI formed a lower low. The RSI tracks the speed of buying and selling. When price climbs but RSI slips, it creates a hidden bullish divergence. This usually signals fading selling pressure even before momentum shows up on the chart.
The rebound has pushed Solana back toward $146, a level that has blocked every move since November 14. A clean daily close above it this weekend would confirm strength and set up a path toward $171. Solana needs roughly a 5% push to test that breakout, which is well within its normal range when buyers step in.
If $146 rejects again, the pullback zone remains near $127. That level has held since December 2 and continues to act as a strong floor. A break below it weakens the setup, but as long as the hidden bullish divergence stays active, Solana still has a chance to retest higher levels.
For now, Solana is on the weekend watchlist because both the chart and the Breakpoint news flow point to a possible attempt at $146.
Chainlink (LINK)
Chainlink is up about 4% in the past 24 hours. Coinbase naming LINK’s CCIP the default bridge matters because it can raise real usage. If more wrapped assets move across networks with CCIP, demand for LINK could rise over time.
COINBASE $COIN SELECTS CHAINLINK $LINK CCIP AS EXCLUSIVE INTEROPERABILITY PROVIDER FOR ALL COINBASE WRAPPED ASSETS
An EMA crossover is forming on the 12-hour chart. EMA means exponential moving average. It is a moving average that gives more weight to recent prices. A bullish crossover happens when a smaller (20-period) EMA, in this case, rises above the longer (50-period) EMA. Traders use that crossover as a simple momentum signal. It suggests short-term buyers are gaining control.
LINK is trading above both EMAs already. That shows buyers are in control going into the weekend. If the 20/50 EMA crossover completes, LINK could try a quick push. The first level to clear is $14.23. LINK needs roughly 1.2% for a 12-hour close above it. A clean move above that opens $14.99, then $16.78.
If the crossover fails, risk returns to the downside. The key support is $13.37. A break below it would expose $12.44 and then $11.75. Right now, the chart and the Coinbase CCIP news line up. That combo is why LINK is a top token to watch this weekend.
The Fed’s resumption of balance sheet expansion objectively benefits the stock market, while simultaneously weakening the US dollar and driving a sustained long-term rise in gold and silver prices, with the euro also benefiting. However, apart from a few cryptocurrencies like Bitcoin, the crypto market, as a dollar-denominated offshore equity-like market, struggles to compete with precious metals and stock indices due to investors’ limited risk appetite. Therefore, further reducing its allocation may be a better option.
A Not-So-Dovish Decision
Yesterday, the Federal Reserve announced the outcome of its final FOMC meeting of the year. Although officials delivered a rate cut for the third consecutive meeting, there is unusual discord within the ranks regarding whether inflation or the labour market poses the greater concern. Consequently, officials have signalled little appetite for further easing.
Public comments from Fed officials in recent weeks reveal a committee so deeply divided that the final decision may well hinge on how Chair Powell chooses to steer the ship. With Powell’s tenure set to expire next May, he will preside over only three more FOMC meetings. Sticky price pressures coupled with a cooling labour market present the Fed with an invidious trade-off—a dilemma not encountered in decades. During the “stagflation” era of the 1970s, when faced with a similar predicament, the Fed’s “stop-start” response allowed high inflation to become entrenched.
Against this backdrop, several Fed actions warrant close attention: firstly, the removal of the aggregate cap on the Standing Repo Facility (SRF); and secondly, the purchase of Treasury bills (T-bills) — and, if necessary, other US Treasuries with a remaining maturity of up to three years — to maintain ample reserves.
The Fed’s objective is crystal clear: it is not to provide premium liquidity for equity and crypto markets, but to stabilise short-term liquidity levels within the banking system and alleviate market shortages. T
he projected purchase of $40 billion in T-bills this month, combined with the relaxation of the SRF, objectively helps to steady equity markets, yet is unlikely to fuel a broad-market rally comparable to that of 2021.
Powell also emphasised that current T-bill purchases are solely for “reserve management”, implying the primary aim of the Fed’s balance sheet expansion is to maintain stability, not to unleash further liquidity to stimulate the economy and asset prices.
What is the Smart Money Thinking?
In the rates market, traders are pricing in more conservative expectations than they were before the FOMC meeting. Markets now anticipate only two cuts in 2026, of 25bps each, with no further easing expected until January 2028, leaving the terminal rate hovering around 3.4%. Bond market pricing is even more explicit: since late October, only yields on Treasuries with maturities under three years have fallen, whilst the 10-year yield remains stubbornly above 4.1%, and T-bond yields have actually risen significantly. This implies that long-term financing costs remain elevated, and riskier markets and assets will continue to face a liquidity drought for the foreseeable future.
Source: CME Group
Source: ustreasuryyieldcurve.com
In the crypto options market, traders’ long-term bearish stance on BTC and ETH has not shifted; if anything, it has entrenched. Bullish sentiment is confined to short-term speculation in 0DTE options. Notably, the previously persistent far-month bullishness for ETH has evaporated, with sentiment shifting into “neutral-to-bearish” territory. This suggests that traders view ETH’s short-term rebounds not as a reflection of improving fundamentals, but rather as a product of speculative flows. Given that ETH’s implied forward yield sits at just 3.51%—compared to roughly 4.85% for BTC—current valuations do not represent a “reasonable investment proposition” for institutions, whilst BTC is viewed, at best, as a “hold”.
Source: Amberdata Derivatives
So, What’s the Trade?
For the crypto market, the Fed’s stance is hardly welcome news. In the current environment, sustained, large-scale rallies rely more on a deluge of long-term liquidity than on short-term relief measures. Meanwhile, elevated long-term rates will keep long-term investors cautious and on the sidelines, leaving price action to be dictated primarily by short-term speculators.
Short-term rebounds and long-term bearish expectations will coexist. For assets where traditional institutional pricing power is dominant (BTC, XRP, SOL), long-term bearish expectations will continue to weigh on prices. However, for assets where institutional influence is weaker (such as ETH and altcoins), leverage-induced short-term rallies will drive price movements.
Therefore, incorporating far-month put protection for crypto assets remains a prudent strategy. However, the cost of hedging warrants reconsideration. Yields from the crypto carry trade can no longer cover the cash flow requirements for put protection.
Consequently, holding assets that are still in a robust uptrend (e.g., the “Mag 7”) and using their gains to fund “insurance premiums” appears to be a sound approach. The beta of the Mag 7 is typically lower than that of BTC and ETH, meaning that when equities rise, their gains can offset option premiums.
Conversely, if markets fall, the higher sensitivity of crypto assets means that far-month puts will generate superior returns.
Of course, reducing exposure to crypto risk is also essential. With BTC’s implied forward yield now virtually indistinguishable from T-bond yields, holding crypto assets per se offers little comparative advantage. If one must maintain long exposure, consider the following structures:
Risk Reversal: Use a portion of previous profits to enter a risk reversal structure expiring in 30-60 days (i.e., sell a put and buy a call with the closest absolute delta), whilst retaining ample cash.
Roll Over: Once the price rises significantly and appropriate gains are secured (at the investor’s discretion), roll the position over.
Capture the Skew: If price movement is muted, investors can still profit from the spread between the two options near expiry due to the significant negative skew, before rolling over.
Buy the Dip: If prices fall significantly, use the cash collateral to accumulate the underlying asset at lower levels.
The implied forward yield of ETH has not been as good as that of T-bills. Source: Amberdata Derivatives
Furthermore, considering the risk of USD depreciation, holding Euros as a cash reserve is a proper alternative. With the Fed still in a cutting cycle, the Euro’s long-term outlook remains constructive.
Simultaneously, as European inflation shows signs of a slight rebound, the ECB is likely to lean towards holding rates steady, whilst the Bank of Japan may intervene to sell USD to combat a weak Yen and inflation. This significantly increases the probability of the Euro appreciating in the near term.
In summary, the rate cut has not fundamentally altered the crypto landscape. Any sharp rally lacking fundamental support should be viewed as a risk rather than an opportunity.
Closely monitoring leverage indicators, such as open interest, and tightening risk parameters may be the optimal strategy for navigating this uncertain festive season. Adopting a defensive posture is also advisable. After all, in this market, “survival” takes precedence over betting on a “Santa rally”.
Disclaimer: The information provided herein does not constitute investment advice, financial advice, trading advice, or any other sort of advice, and should not be treated as such. All content set out below is for informational purposes only.
As broader markets remain under pressure, real-world assets (RWAs) have emerged as one of the few sectors continuing to attract sustained interest. The market has grown by more than 150% this year. Furthermore, Chris Yin, co-founder and CEO of Plume, projects it could expand by 10x to 20x in both value and user adoption over the next year, even under conservative assumptions.
In an interview with BeInCrypto, Yin explained why RWAs are gaining traction at this stage of the market. He also outlined why they could remain a core focus throughout the next market cycle.
Why Investors Are Choosing RWAs in 2025
In Q4, the broader crypto market has faced considerable pressure, forcing many to exit. Despite this, the RWA sector has managed to attract both retail and institutional interest.
Data from RWA.xyz showed that the total number of asset holders has increased by 103.7% over the past month. This suggests growing engagement even as market sentiment weakens.
“The RWA market has been driven by an interest across sectors in on-chain assets linked to reality. A level of certainty, as we have faced a not-quite-bear, not-quite-bull environment.”
As the overall economic downturn persists, Yin stressed that investors are becoming increasingly cautious about the volatility and sustainability of yields across decentralized finance markets. In contrast, RWAs are increasingly positioned as a source of more stable returns.
With DeFi yields under pressure and economic uncertainty persisting, tokenized treasuries or private credit instruments are beginning to look more attractive on a risk-adjusted basis.
He also pointed to the rapid growth of stablecoins this year as evidence of the market’s broader shift toward stability. This is particularly true for institutional participants.
“With stablecoins forming the basis of RWA onboarding, the next logical step is the development of yield coins and yield opportunities for these RWAs. People want high quality assets that generate safe, consistent, and reliable yields. Stablecoins are bringing people in, yield opportunities are what is driving institutions and retail to these assets,” Yin told BeInCrypto.
As investors continue to gravitate toward stability, Yin also acknowledged that one of the major concerns surrounding RWAs is the perception that it introduces additional KYC and compliance risks.
Nonetheless, he argued that tokenization can actually strengthen regulatory controls. It does so by making identity verification, access permissions, and transfer restrictions programmable at the asset level.
Rather than relying on fragmented, off-chain compliance processes, issuers can enforce rules directly within the token through real-time eligibility checks, automated reporting, and immutable audit trails.
RWAs Expected to Remain a Core Market Theme in the Next Cycle
While RWAs have continued to gain traction this year, Yin said the sector is likely to remain a consistent focus for both traditional finance and decentralized finance in the next market cycle.
He noted that, at present, the majority of RWA value is concentrated in tokenized T-bills. However, as the market matures, Yin expects increased adoption of private credit alongside a broader range of alternative assets.
These could include tokenized exposure to mineral rights, such as oil. Additionally, it could involve GPUs, energy infrastructure, and other real-world resources.
“The winners will be those who identify these opportunities, rather than simply doubling down on what has worked up until this point,” the executive commented.
Meanwhile, last month, Coinbase Ventures highlighted RWA perpetuals as one of the categories they are actively seeking to fund in 2026, signaling strong confidence. Yin also revealed that the company has consistently been bullish on RWA perpetuals.
According to Yin, perpetuals often generate trading volumes that significantly exceed those of spot markets, largely due to their superior user experience. He explained that perps are easy to use, allowing participants to take directional positions with ease while also incorporating leverage.
“We’ve always said at Plume the way to make RWAs onchain work is to make RWAs work for the onchain audience by putting RWAs into a UX that crypto natives are familiar with. For spot, that is making them permissionless, composable, liquid, which is what we do with our RWA yield protocol Nest on Plume, and another way that crypto natives engage in assets is through perps and so we are very bullish and excited about that form factor and what it can do for RWAs,” he explained.
Yin also drew attention to increasing innovation around real-world yield. He claimed that it is reshaping how yield is accessed and traded on-chain.
As an example, Yin cited Pendle, noting that the protocol’s separation of principal and yield has introduced a new market structure for tokenized RWA cash flows.
Beyond individual protocols, Yin said RWAs are gaining momentum across multiple blockchain ecosystems.
“Solana’s RWA wave is showing what happens when yield becomes fast, programmable, and accessible to millions of users,” he mentioned.
Yin added that Solana’s speed and throughput make it one of the few networks capable of supporting high-frequency yield operations at scale. This capability becomes increasingly important as RWAs evolve from passive income instruments into a more active, tradable yield economy.
“The experimentation happening there feels like a preview of the next chapter of the RWA sector. Tools that bring RWAs onchain in a crypto native way are the areas that are exciting. And so RWA perps is certainly one category, but also a variety of other new asset classes like sports/pokemon cards with Tradible, but also new financial primitives like insurance with Cork, and many others,” he stated.
Alongside this expansion, Yin emphasized that regulatory and legislative alignment will remain a central priority. He outlined that projects taking compliance seriously are likely to emerge as long-term winners, particularly as governments and large institutions increasingly demand built-in regulatory safeguards and clearer standards for on-chain asset issuance.
What To Expect From The RWA Sector In 2026
Looking ahead, Yin identified three key growth drivers that he expects to propel the RWA sector to new heights over the next 12 months. First, he pointed to the continuation of bottom-up adoption and growth in RWAs.
Yin noted that the RWA value has more than tripled over the past year. Furthermore, the number of RWA holders has grown more than sevenfold.
“Plume’s mainnet coming into existence more than doubling the entire RWA holderbase, and I think that continues to accelerate just within the crypto native audience itself as RWAs are still a tiny part of the entire crypto native market cap,” he remarked.
Second, Yin highlighted increasing top-down alignment from institutions and regulators. According to him, governments, financial institutions, and technology companies are now actively focused on tokenization. While these initiatives typically take time to materialize, Yin believes their eventual rollout could bring billions of dollars’ worth of assets on-chain.
Finally, the Plume executive pointed to broader macroeconomic conditions as a structural tailwind.
“The macro conditions going the way they are means people both off and onchain are continually searching for stable yields, and alternative assets also continue to rise in prominence, both of which pave the way for more organic onchain RWA growth,” he disclosed to BeInCrypto.
Yin concluded that there is little reason to expect momentum to slow, given the number of catalysts in play. According to him,
“Seeing 10-20x growth in value and users next year as well is the low end of what we should expect.”
Thus, RWAs are increasingly positioned as a structural shift rather than a short-term trend in 2026. With growing adoption, expanding asset types, and stronger alignment, the sector appears well placed to play a central role in the next phase of on-chain growth.
GRID will host the annual web3 Year-End Gala: Seoul 2025 on December 18 in Cheongdam-dong, Gangnam, with strategic sponsorship from global digital asset trading platform Zoomex Lab and support from Tencent Cloud and media partner Coinness.
Themed “A Night of Innovation, Influence & Impact,” the Gala aims to connect Korea’s dynamic market with international trends, showcasing how web3 can seamlessly integrate into real-world payment systems and elevate user experience in 2026.
Key Highlights
Technology & Innovation: AI project Supernet will present infrastructure breakthroughs, demonstrating AI-driven web3 payments with efficiency and seamlessness.
Platform Strategy: Zoomex Lab’s Marketing Director will reveal the platform’s 2026 roadmap, emphasizing intuitive user interactions and the “user-first” philosophy.
Market Insights: DBN Media Korea will share the latest trends and insights within the Korean web3 ecosystem.
Industry leaders, including the founder of Coinness, CEO of Xangle, and Zoomex Lab representatives, will explore regulatory opportunities, data compliance, and platform strategies, emphasizing exceptional user experience as the key driver for mainstream web3 adoption.
Cross-Industry Excitement & International Stars
Sports Guest: A globally renowned athlete will appear as a mystery guest, highlighting Zoomex Lab’s strength in sports marketing.
K-Dance Opening Show: Korea’s popular girl group will energize the audience with a high-octane performance.
web3 Trend Night: Top DJs, including DJ Pluma, DJ SODA, and DJ Yena will deliver an international networking party with electrifying live music.
Multiple interactive raffles will award prizes, including the latest iPhone 17 Pro, Haas F1 merchandise, and Golden Bitcoin collectibles, rewarding attendees for their support.
web3 Year-End Gala: Seoul 2025 is by invitation only. Zoomex Lab invites guests to Cheongdam-dong, Seoul, on December 18 to experience innovation and celebrate the future of web3 payments.
About ZOOMEX
Founded in 2021, Zoomex is a global cryptocurrency trading platform with over 3 million users across 35+ countries and regions, offering 600+ trading pairs. With the core values of “Simple × User-Friendly × Fast,” the platform is committed to delivering high-performance, low-barrier trading experiences. By optimizing the matching engine and user interaction processes, Zoomex supports millisecond-level order execution and enhances usability through a minimalist interface.
As the official partner of the Haas F1 team, Zoomex demonstrates speed, precision, and cutting-edge technology both on the track and in trading. Zoomex is also proud to announce a global exclusive brand ambassador partnership with world-class goalkeeper Emiliano Martínez, further strengthening brand image and user trust through his professional spirit and global influence.
The platform also prioritizes security and compliance, holding regulatory licenses including Canada MSB, US MSB, US NFA, and Australia AUSTRAC, and has undergone audits by blockchain security firm Hacken. With flexible identity verification and a free trading system, Zoomex is building a faster, safer, and more accessible trading environment for users worldwide.
HBAR price is flat today after a sharp monthly drop of nearly 29%. It is still down about 6% over the past week. The trend looks weak, but the deeper picture is more complex. Retail demand is soft, yet whales have added significantly over the past two days.
This mix of weakness and accumulation suggests a base may be forming even though the price action still looks weak.
Weak Demand Meets Heavy Accumulation?
HBAR is still moving inside a falling wedge. A wedge is usually a bullish structure because it shows sellers losing strength over time. But inside that wedge, something weaker appeared. Between December 7 and December 11, the HBAR price made a higher low while the On-Balance Volume (OBV) made a lower low.
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OBV is a cumulative volume tool that tracks whether money is flowing in or out of a token. When price makes a higher low but OBV drops, buyers do not have enough strength to support the bounce. That creates a bearish divergence even inside a bullish pattern.
Whales, however, are acting very differently. Accounts holding at least 10 million HBAR increased from 136.54 to 149.49. Accounts with at least 100 million HBAR rose from 40.65 to 73.62. Using only the minimum thresholds, whales added about 3.42 billion HBAR in under 48 hours. At the current price, this stash is worth at least $445 million.
OBV tracks traded volume on exchanges; large off-exchange transfers or OTC/custody moves may not appear in OBV, so OBV can miss some whale activity and is a better representation of retail interest.
This contradiction sets the stage for the next section, because whales are likely reacting to a deeper signal.
A Repeated Signal That Whales May Be Watching
Between October 17 and December 11, the price made a lower low while the RSI (Relative Strength Index) made a higher low. RSI measures the speed of buying and selling. When price falls, but RSI rises, it forms a standard bullish divergence. This kind of divergence is linked with trend reversals.
This same divergence appeared before earlier bounces. On December 1 and December 7, the pattern showed up, and HBAR moved 15%, and 12% from the lows. Each move stalled at resistance, but this time the divergence shows up alongside massive whale accumulation. That combination makes the current reversal attempt more meaningful than the previous ones inside the wedge.
If the caps that stopped the earlier rallies break, the divergence can shift the broader structure from bearish to bullish. That may be what whales are positioning for.
The Most Critical HBAR Price Levels
The HBAR price needs a daily close above $0.159. This level wasn’t breached during the previous bounces. A breakout above it also breaks the wedge’s upper trend line and opens room for a move toward $0.198 and $0.219.
If price weakens again, $0.122 is the line to watch. A drop below it sends HBAR back to the wedge’s lower boundary. That line is weak because it has only two touch points. A break below it delays any recovery and signals that sellers still control the broader trend.
Right now, OBV shows weak demand, RSI shows a bullish setup, and whales have added about 3.42 billion HBAR at the lows. If HBAR can clear $0.159, the whale accumulation becomes a major tailwind instead of a background signal.
CryptoQuant CEO Ki Young Ju has called meme coin markets “dead” as recent on-chain data shows meme coin dominance in altcoin markets has dropped to multi-month lows.
This declaration has sparked debate within the cryptocurrency community. Some suggest that the bottom is near, while others see mounting losses and shrinking liquidity as signs of serious decline.
Meme Coin Dominance Hits Lowest Point Since Early 2024
Data from CryptoQuant shows that meme coin dominance in altcoin markets has declined continuously this year. It peaked at around 0.109 in November 2024. However, the metric now sits at 0.034, matching lows from February 2024. This decline signals a clear move away from speculative meme tokens.
CoinGecko data reinforces this picture. Market capitalization across meme-coin sub-categories surged into a clear peak in late 2024 and early 2025, before entering a sustained downturn. On a yearly basis, leading meme tokens have suffered heavy losses.
Performance of Meme Coin Sectors. Source: CoinGecko
Dogecoin (DOGE) is down 66.3%, while Shiba Inu (SHIB) has fallen 71.3%. Losses are even more pronounced for Pepe (PEPE), which declined 81.6%. Lastly, Bonk (BONK) shed 76% of its value over the same period.
Overall, the meme coin market has dropped by 65.9%, according to Artemis data. Solana’s meme coin sector has been especially hard hit. Joao Wedson, founder and CEO of Alphractal, observed that,
“Meme coins and altcoins in the Solana ecosystem just hit their worst phase — for many, they’re simply dead.”
He also noted that payment-focused altcoins remain resilient, indicating a divide between utility and speculation.
Why Did Meme Coins “Die”?
Analysts outlined several reasons for the decline in meme coin dominance. A trader argued that ultra-cheap launches, lacking protection against rug pulls, have eroded trust, community, and long-term holding, leaving only short-term extraction.
“You literally can thank Pumpfun and Alon for this..It should never have costed under $1 to launch memecoins with zero protection against rugs. We entirely lost the sense of community and HODL from being rugged so many times. Nobody has faith, everyone just extracts,” the DeFiApe posted.
Notably, research by Solidus Labs found that 98.7% of tokens launched on Pump.fun exhibited signs of pump-and-dump schemes. In parallel, activity on Raydium reveals that roughly 93% of liquidity pools, representing about 361,000 pools, display indicators commonly associated with soft rug pulls.
Memes used to be some of the best and most fun LPing opportunities in defi, just printing on low liq pools and high volatility
Analyst Mikko Ohtamaa further added that the sector has become overcrowded.
“The world does not have enough attention for 25,000,000 memecoins. And even with the winners, ‘investors’ lose money….Because there is no investment in memecoins, there is only participation in a pump. You do not buy memecoins because you invest in them; you buy memecoins because you think it will pump, and you hope to sell at the top. You do not care about crime; you want to be part of the crime,” the analyst remarked.
Will Meme Coins Recover?
Despite prevailing negativity, some remain convinced that meme coins will rebound. They pointed to the decline in the dominance as a signal of a potential bottom.
Gordon, a well-known commentator, argued on X that meme coin critics are “incredibly short sighted and low IQ.” He stressed that meme coins have been a primary driver of crypto attention and volume, predicting a future resurgence.
“The only reason there is any attention on crypto is meme coins. The only reason there’s any volume is meme coins. Meme coins aren’t going anywhere and they will lead the next bull run,” he claimed.
For now, the memecoin market stands at a crossroads. Whether recovery or decline continues will depend on wider market conditions, shifting sentiment, and the ability of legitimate projects to set themselves apart from scams.
Terraform Labs co-founder Do Kwon was sentenced to 15 years in federal prison on Thursday for orchestrating a $40 billion cryptocurrency fraud—a sentence notably lighter than the 25 years handed to FTX founder Sam Bankman-Fried (SBF) last year, despite Kwon’s fraud causing nearly four times the financial damage.
The sentencing disparity highlights how courtroom behavior, remorse, and cooperation with authorities can dramatically influence outcomes in high-profile white-collar cases.
The Verdicts
US District Judge Paul Engelmayer, presiding over Kwon’s case in the Southern District of New York, described the Terra-Luna collapse as “a fraud on an epic, generational scale.” He rejected both the prosecution’s recommendation of 12 years as “unreasonably lenient” and the defense’s request for five years as “utterly unthinkable and wildly unreasonable.”
“Your offense caused real people to lose $40 billion in real money, not some paper loss,” Engelmayer told Kwon, noting there may have been as many as one million victims worldwide.
By contrast, Judge Lewis Kaplan sentenced SBF to 25 years in March 2024 for an $11 billion fraud, citing the defendant’s “exceptional flexibility with the truth” and “apparent lack of any real remorse.”
Why the Difference?
Guilty Plea vs. Trial
Kwon pleaded guilty in August 2025 to conspiracy and wire fraud charges, accepting responsibility for misleading investors about TerraUSD’s stability mechanisms. In a letter to the court, he wrote: “I alone am responsible for everyone’s pain. The community looked to me to know the path, and I, in my hubris, led them astray.”
SBF, on the other hand, went to trial and maintained his innocence throughout. He argued that FTX was merely experiencing a “liquidity crisis” rather than outright fraud. The jury took just four hours to convict him on all seven counts.
Courtroom Conduct
Judge Kaplan found that SBF committed perjury at least three times during his testimony. Kaplan called SBF’s performance on the stand the most “evasive” he had witnessed in nearly 30 years on the bench. “When he wasn’t outright lying, he was often evasive, hairsplitting, dodging questions,” Kaplan said.
The judge also found that SBF had attempted to tamper with witnesses before trial. He sent messages to former FTX general counsel Ryne Miller suggesting they “vet things with each other.”
Kwon, by contrast, listened to victim impact statements—315 letters submitted to the court—and apologized directly. “Hearing from victims was harrowing and reminded me again of the great losses that I have caused,” he told Judge Engelmayer.
Future Legal Exposure
A critical factor in Kwon’s sentencing was his pending prosecution in South Korea. He faces charges that could result in up to 40 additional years in prison. Judge Engelmayer explicitly considered this when crafting the sentence. Kwon will likely be extradited to face trial in his home country after serving his US term.
SBF faces no comparable foreign legal jeopardy, making his 25-year US sentence his primary punishment. However, he is actively fighting to overturn his conviction. In November 2025, SBF’s legal team filed an appeal, arguing that he was “presumed guilty” before his trial even began. His attorney, Alexandra Shapiro, claims the court blocked key evidence proving FTX’s solvency and allowed biased treatment throughout the proceedings. The Second Circuit is expected to take several months to issue a ruling.
Do Kwon
Sam Bankman-Fried
Sentence
15 years
25 years
Estimated Loss
$40 billion
$11 billion
Plea
Guilty plea
Trial conviction
Remorse
Apologized to victims
No remorse shown
Perjury
None
3 counts found
Witness Tampering
None
Yes
Additional Charges
Up to 40 years in South Korea
None
Source: BeInCrypto
The Bigger Picture
Both cases represent landmark moments in cryptocurrency enforcement. Prosecutors noted that Kwon’s losses exceeded those caused by SBF, OneCoin co-founder Karl Sebastian Greenwood, and former Celsius CEO Alex Mashinsky combined.
The sentencing outcomes send a clear message to the crypto industry: cooperation and genuine remorse can meaningfully reduce prison time.
Kwon has agreed to forfeit $19.3 million as part of his plea deal. He was also ordered to pay an $80 million fine and to receive a lifetime ban on cryptocurrency transactions as part of his 2024 SEC settlement.
His request to serve his sentence in South Korea was denied.
Coinbase, the largest cryptocurrency exchange in the United States, is preparing to launch prediction markets and tokenized equities, while Gemini has secured regulatory approval.
Kalshi and Crypto.com have formed an industry coalition. Changpeng Zhao is targeting 220 million users through BNB Chain. The war among giants for the throne of the $15 billion prediction market has officially begun.
Coinbase Reveals Key Card in “Everything App” Strategy
Coinbase executives have previously expressed interest in entering these businesses but had not made official announcements. However, expectations have been building as screenshots hinting at related functionality have circulated on social network X in recent weeks. A Coinbase spokesperson declined to comment on specific plans, stating only: “Tune in to the livestream on Dec. 17 to find out what new products Coinbase is shipping.”
This move is part of Coinbase’s ongoing “everything app” strategy, designed to provide traders with access to a broad range of assets and markets while keeping pace with rivals who are diversifying their offerings. Robinhood launched Kalshi’s prediction market products earlier this year, and both Robinhood and Kraken offer tokenized US stocks and ETFs outside the United States.
Trading in tokenized equities is growing rapidly. According to rwa.xyz, monthly transfer volume increased 32% over the last 30 days to $1.45 billion.
Industry Coalition CPM Launches: “A Unified Voice Is Necessary”
On the same day, Kalshi and Crypto.com announced the launch of the Coalition for Prediction Markets (CPM), a national alliance of prediction market operators. Coinbase, Robinhood, and sports gaming platform Underdog joined as founding members.
Matt David, executive board member of CPM, emphasized: “The US is the biggest frontier for prediction markets, and the momentum we’re seeing makes a unified industry voice not just important, but necessary.”
The coalition will focus on strengthening the federal framework for prediction markets, establishing nationwide integrity standards to curb insider trading, and pushing back against state-level regulatory overreach.
Sara Slane, head of corporate development at Kalshi and an executive member of the coalition, stated: “We spent years working with the CFTC because prediction markets must operate with strong federal safeguards that prevent insider trading, protect consumers, and ensure these markets remain transparent and corruption-free.” The coalition said more companies are in talks to join.
The approval allows Gemini to offer event contract trading services to existing US customers through its website and mobile app. In regulatory filings related to its IPO, Gemini had included prediction markets on “economic, financial, political, and sports forecasts” among its list of products of interest.
Gemini stated it “will explore expanding its derivatives offering for US customers to include crypto futures, options, and perpetual contracts.” Following the approval announcement, Gemini shares surged as much as 28% in extended trading.
The approval is among the latest agency actions under Acting Chairman Caroline Pham, who has positioned herself as a champion of the digital assets industry and has taken numerous steps to advance crypto trading on CFTC-regulated platforms. Pham also announced that Tyler Winklevoss would participate in the agency’s CEO Innovation Council, which will include Polymarket founder Shayne Coplan, CME Group Chairman and CEO Terry Duffy, and Kalshi co-founder Tarek Mansour.
CZ Marches to the Center Stage of Prediction Markets
Binance founder Changpeng Zhao (CZ) is also expanding his prediction market territory. On December 4, CZ posted on X about a new prediction market launching on BNB Chain. A key feature of the platform is that user funds generate yield while awaiting outcomes. The platform is backed by YZiLabs (formerly Binance Labs), which manages over $10 billion in assets and has invested in more than 300 projects globally.
One day earlier, Trust Wallet, owned by CZ, launched its Predictions feature. Web3 prediction market protocol Myriad joined as the first integration partner, enabling users to bet on politics, sports, and market trends within the app. Trust Wallet’s user base stands at 220 million.
BNB Chain completed its integration with Polymarket in October, and Opinion Labs, a prediction market provider backed by YZiLabs, launched its mainnet. Opinion Labs secured a multi-million dollar investment at Binance Blockchain Week. They completed a $5 million seed funding round in Q1 2025, led by YZiLabs with participation from Animoca Ventures and Amber Group.
Trump Media Enters the Fray with Truth Predict
Trump Media & Technology Group, the social media company of former President Donald Trump, is also jumping into the prediction market business. The company plans to launch “Truth Predict” on its Truth Social network, allowing users to bet on events ranging from political elections to changes in the inflation rate.
Truth Predict will use Crypto.com Derivatives North America to process bets and will offer wagers on commodity prices and events across all major sports leagues. Initial testing will begin “in the near future,” followed by a full US launch and eventual global expansion.
Devin Nunes, CEO of Trump Media and a former Republican congressman, stated: “For too long, global elites have closely controlled these markets. With Truth Predict, we’re democratizing information and empowering everyday Americans to harness the wisdom of the crowd.”
The Race for the $15 Billion Throne
Prediction markets have exploded since a federal court dismissed the prohibition on election betting last year. Weekly notional trading volume on Polymarket and Kalshi has surpassed the peak set during last year’s US presidential election, reaching new records.
Investor interest is soaring. Kalshi’s valuation has more than doubled following its recent funding round, reaching $11 billion. Polymarket is reportedly seeking to raise funds at a valuation of up to $15 billion.
Traditional financial exchanges, including CME Group and Intercontinental Exchange, are also exploring ways to enter this market. Monthly transfer volume for tokenized equities increased 32% over the last 30 days to $1.45 billion.
However, regulatory uncertainty remains a challenge. Kalshi filed a lawsuit in October against New York’s gaming commission, alleging that the state agency is overstepping its authority by attempting to regulate sports betting operations that fall exclusively under federal jurisdiction. Sports betting remains illegal in nearly a dozen US states, and lawsuits over the legality of prediction markets are mounting.
Coinbase, Gemini, CZ’s BNB Chain, and the newly formed industry coalition — the game of giants for the $15 billion throne has only just begun.
JP Morgan has successfully arranged one of the first-ever debt issuances on a public blockchain, executing a US Commercial Paper offering for Galaxy Digital Holdings LP on the Solana network.
The transaction, announced December 11, was purchased by Coinbase and Franklin Templeton, with all settlement conducted in Circle’s USDC stablecoin—a first for the commercial paper market.
Wall Street No Longer Experimenting
The deal represents a significant departure from JP Morgan’s previous blockchain strategy, which relied primarily on its private Onyx network and JPM Coin. By choosing Solana’s public infrastructure, the Wall Street giant has effectively validated the network’s capability to handle institutional-grade financial products.
“This issuance is a clear example of how public blockchains can improve the way capital markets operate,” said Jason Urban, Global Head of Trading at Galaxy. Franklin Templeton’s Head of Innovation Sandy Kaul added that institutions are no longer just experimenting with blockchain—they’re “transacting on it in a big way.”
JP Morgan served as Arranger, creating the on-chain USCP token and facilitating delivery-versus-payment (DVP) settlement. The DVP model eliminates counterparty risk by ensuring that assets and payments are exchanged simultaneously—a critical feature for institutional adoption. Galaxy Digital Partners LLC acted as the Structuring Agent, marking Galaxy’s first-ever commercial paper issuance.
Coinbase played dual roles as both an investor and an infrastructure provider, offering private-key custody, wallet services, and USDC on- and off-ramp capabilities. The collaboration between traditional finance and crypto-native firms signals a maturing ecosystem ready for mainstream adoption.
Why Solana and USDC
Solana’s selection reflects its technical advantages: speed, scalability, and low transaction costs. The network’s ability to process thousands of transactions per second made it well-suited for institutional operations requiring efficiency and reliability. While Ethereum remains prominent in the tokenization landscape, Solana’s cost efficiency positions it for high-frequency, cost-sensitive financial applications.
Circle’s USDC stablecoin played an equally pivotal role. According to Circle’s official reports, USDC has enabled over $850 billion in value transfers globally, supporting real-time settlement for compliant financial operations. Its use as settlement currency for traditional debt instruments represents a breakthrough for stablecoin utility.
Strong Financials Back the Deal
The transaction strengthens Galaxy’s short-term funding capabilities amid robust financial performance. The company reported $629 million in adjusted EBITDA for Q3 2025—a record quarter. As of June 30, 2025, Galaxy held $2.6 billion in equity and $1.2 billion in cash and stablecoins, positioning it well to expand blockchain-based funding channels.
JP Morgan‘s involvement adds significant credibility. JP Morgan holds $40.1 trillion in assets under custody, $1.11 trillion in deposits, and operations spanning more than 100 countries. The bank’s endorsement of public blockchain infrastructure carries substantial weight for institutional observers.
SOL Unmoved Despite Historic News
Despite the landmark nature of the transaction, Solana’s native token, SOL, has shown a limited price reaction. As of December 12, SOL trades at approximately $136, down 2.25% over the past week. The token briefly spiked above $145 on December 9-10 before retreating to current levels.
Source: BeInCrypto
The muted response may reflect the market’s forward-looking nature—institutional adoption has long been anticipated. Broader market conditions and profit-taking following recent gains could also be overshadowing the positive news.
Sanctioned Russian exchange Garantex is quietly moving funds again, according to an on-chain payout architecture uncovered by blockchain analytics firm Global Ledger.
The forensic evidence confirmed that Russian actors have rebuilt a functioning payout system despite law enforcement efforts.
Researchers have uncovered new Garantex-linked wallets on Bitcoin and Ethereum that, together, hold more than $34 million in cryptocurrency. At least $25 million has already been paid out to former users. These movements confirm that the operation is active despite international pressure to shut it down.
Global Ledger explained that Garantex is operating a payout system designed to conceal the flow of money. The exchange shifts its reserves into mixing services such as Tornado Cash, which scramble the funds to obscure their origin.
Garantex uses Tornado Cash to obscure money movement. Source: Global Ledger.
The money is then routed through a series of cross-chain tools. These facilitate the transfer of assets between networks, including Ethereum, Optimism, and Arbitrum. These transfers eventually end up in aggregation wallets, and from there, the funds are distributed to individual payout wallets.
The investigation also found that most Ethereum reserves remain untouched. More than 88% of the ETH linked to Garantex remains in reserve, indicating that only the initial phase of payouts has commenced.
The findings in the Global Ledger report are situated within a broader transformation within Russia’s financial system.
How Russia Uses A7A5 to Keep Trade Alive
Russia has made a remarkable shift in its approach to digital assets.
President Vladimir Putin has also personally backed a new payment network called A7.
A7 launched a rouble-backed stablecoin named A7A5 at the start of 2025. This token enables the flow of money in and out of the conventional financial system, and according to Chainalysis, it has already supported more than $87 billion in trading activity.
Russian companies utilize A7A5 to convert rubles into USDT. This allows Russian firms to continue making cross-border payments even when banks refuse to process transfers linked to Russia.
While Russia works to build a financial system that no longer depends on Western channels, the Global Ledger findings add a critical new layer by showing that Garantex has not disappeared.
Instead, it has adapted its operations and continues to move money through structures that mirror newer state-backed systems.
Taken together, the evidence shows how states are developing new crypto-based payment systems that circumvent country-specific sanctions and erode traditional forms of external pressure.
Bitcoin approaches Christmas 2025 in a fragile but interesting position. Price trades around the $93,000 area after weeks of pressure. Four key charts show a market late in its correction, yet still lacking a clear bullish trigger.
The data highlights three big forces at work. Recent buyers sit in heavy losses, while new whales are capitulating. Macro conditions still drive price, even as spot buying strength quietly returns.
Bitcoin Short-Term Holders Realized Profits and Losses. Source: CryptoQuant
Earlier in 2025, STHs sat on strong gains. Their average position was 15–20% in profit as Bitcoin pushed higher. That phase encouraged profit-taking and added sell pressure near the highs.
Today, the picture has flipped. Bitcoin trades below the STH realized price, and the cohort shows about -10% losses. The histogram on the chart is red, marking one of the deepest loss regimes of 2025.
This has two consequences.
Near term, these underwater holders can sell into every bounce. Many simply want out at break-even, which caps rallies toward their entry zone.
However, deep and persistent loss pockets usually appear later in corrections. They signal that weak hands already took heavy damage.
At some point, the selling power of this group runs low.
75% of Short-Term Holder's coins are sitting in loss (over 4.36 million BTC).
Interestingly enough, this is a comparable trend to the prior two local bottoms of this Bitcoin cycle. pic.twitter.com/2w1J4rXzi9
Historically, the key turning signal comes when price reclaims the STH realized price from below. That move tells you forced selling is mostly done and new demand absorbs supply.
The second chart shows realized profit and loss by whale cohorts. It splits flows between “new whales” and “old whales”. New whales are large holders that accumulated recently.
Realized Profits by Bitcoin Whales Since November 2025. Source: CryptoQuant
Yesterday, new whales realized $386 million in losses in one day. Their bar on the chart is a large negative spike. Several other big negative bars cluster around recent lows.
Old whales tell a different story. Their realized losses and profits are smaller and more balanced. They are not exiting at the same pace as the newcomers.
This pattern is typical at late stages of a correction. New whales often buy late, sometimes with leverage or strong narrative bias. When price moves against them, they are first to capitulate.
That capitulation has a structural benefit. Coins move from weak large hands to stronger hands or smaller buyers. Future sell-side overhang from this group decreases after such events.
Short term, these flushes can still drag price lower. Yet medium term, they improve the quality of Bitcoin’s holder base.
The market becomes more resilient once panicked large sellers finish exiting.
Real Interest Rates Still Steer Bitcoin
The third chart overlays Bitcoin with two-year US real yields, inverted. Real yields measure interest rates after inflation. The series moves almost tick-for-tick with BTC across 2025.
When real yields fall, the inverted line rises. Bitcoin tends to rise alongside it as liquidity improves. Lower real yields make risk assets more appealing relative to safe bonds.
2-Year Real Interest Rates Inverted With BTC Overlaid
Since late summer, real yields have moved higher again. The inverted line trended lower, and Bitcoin followed it down. This shows macro conditions still dominate the larger trend.
Federal Reserve rate cuts alone may not fix this. What matters is how markets expect real borrowing costs to evolve. If inflation expectations fall faster than nominal rates, real yields can even rise.
For Bitcoin, a durable new bull leg likely needs easier real conditions. Until bond markets price that shift, BTC rallies face a macro headwind.
What is driving the drawdown in Bitcoin?
When you stop listening to Bitcoin pundits and start listening to what Bitcoin is saying about itself, then you will see the real truth
I am going to lay out the 3 major things you need to watch for Bitcoin right now 🧵 pic.twitter.com/FC60PPt2gG
The fourth chart tracks 90-day Spot Taker CVD across major exchanges. CVD measures the net volume of market orders that cross the spread.
It shows whether aggressive buyers or sellers dominate.
For weeks during the drawdown, the regime was Taker Sell Dominant. Red bars filled the chart as sellers hit bids across spot markets. This aligned with the grinding drift lower in price.
Now the signal has flipped. The metric just turned Taker Buy Dominant, with green bars returning. Aggressive buyers now outnumber aggressive sellers on spot venues.
Taker Buy momentum is back 🔄
Bitcoin's 90-day Spot Taker CVD just flipped to **Taker Buy Dominant** — marking a shift in market behavior after weeks of sell-side pressure.
This is an early but important change. Trend reversals often start with microstructure shifts like this. First buyers step in, then price stabilizes, then larger flows follow.
One day of data is never enough. However, a sustained green regime would confirm that real demand is back. It would show spot markets absorbing supply from STHs and capitulating whales.
What It All Means For Bitcoin Price Heading Into Christmas
Taken together, the four charts show a late-stage correction, not a fresh bull market.
Short-term holders and new whales carry heavy losses and still sell into strength. Macro real yields keep a lid on risk appetite at the index level.
At the same time, some building blocks for a recovery are visible. Capitulation by new whales cleans up the holder base.
Spot taker buyers are returning, which reduces downside velocity.
Downside spikes into the mid or high-$80,000s remain possible if real yields stay high. A clear bullish shift likely needs three signals together:
First, price must reclaim the short-term holders’ realized price and hold above it. Second, two-year real yields should roll lower, easing financial conditions.
Third, Taker Buy dominance should persist, confirming strong spot demand.
Until that alignment appears, traders face a choppy market shaped by macro data and trapped holders. Long-term investors may see this as a planning zone rather than a time for aggressive bets.
A US court has sentenced Terra founder Do Kwon to 15 years in prison, concluding one of the most consequential fraud cases in crypto history.
The decision, delivered on December 11, 2025, follows Kwon’s guilty plea earlier this year.
End of the 2022 Crypto Winter Saga?
The sentencing ends a three-year and seven-month legal saga that began after the collapse of Terra’s algorithmic stablecoin ecosystem in May 2022, which erased tens of billions in market value and triggered a cascade of failures across the crypto sector.
Prosecutors argued that Kwon knowingly misled investors about the stability of TerraUSD and the backing of its broader ecosystem.
Kwon’s sentence is shorter than the 25 years received by FTX founder Sam Bankman-Fried, though both cases have reshaped global regulatory attitudes toward digital assets.
Judge’s Verdict During Do Kwon’s Trial. Source: Inner City Press
Prosecutors highlighted the scale of damage caused by Terra’s implosion, citing widespread retail losses and systemic fallout across lending platforms and hedge funds.
Kwon had faced charges in both the United States and South Korea before being extradited. His guilty plea consolidated proceedings under US jurisdiction, enabling today’s sentencing.
The court emphasised investor protection and accountability as central factors in determining the term.
The decision marks a turning point for the Terra community, which continues to trade legacy tokens LUNC and LUNA despite the network’s collapse. Market reaction remains volatile as traders digest the implications of Kwon’s conviction.
Terra Luna Classic (LUNC) Price Over the Past Week. Source: CoinGecko
With the case now closed, regulators are expected to use the verdict as a reference point for future enforcement actions involving algorithmic stablecoins and high-risk financial engineering in crypto.
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