- Popular CEX Cryptocurrencies
Top 10 CEX Trading Volume and 24-Hour Price Change:
- BTC: +0.75%
- ETH: -1.99%
- SOL: +1.03%
- XRP: -0.29%
- BNB: -0.24%
- DOGE: -1.47%
- ADA: -5.93%
- SUI: +1.11%
- ZEC: +12.97%
- LINK: +0.36%
24-Hour Price Increase Rankings (Data Source: OKX):
- PSTAKE: +24.74%
- ZEC: +13.94%
- BARD: +12.51%
- VRA: +12.62%
- DOOD: +10.38%
- BAT: +9.71%
- BONK: +7.44%
- MERL: +5.99%
- ZORA: +4.50%
- AAVE: +4.78%
24-Hour Coin Stock Price Increase Rankings (Data Source: msx.com):
- GEMI: 32.22%
- DXYZ: 23.17%
- FLY: 11.78%
- EOSE: 11.09%
- RKLB: 9.18%
- TGL: 7.32%
- ONDS: 7.27%
- FLNC: 7.18%
- ETHD: 6.79%
- BE: 6.6%
- On-Chain Popular Meme Top 5 (Data Source: GMGN):
- 1649ac
- allin
- POM
- trillions
- 5
Headlines
Do Kwon Sentenced to 15 Years in Prison by U.S. Judge
The Southern District Court of New York has sentenced Terraform Labs founder Do Kwon to 15 years in prison, exceeding the sentence requested by prosecutors. The prosecution pointed out that given Do Kwon's previous misconduct and the scale of the fraud, he should be sentenced to 12 years; while Do Kwon's lawyer argued for only 5 years.
U.S. District Judge Paul Engelmayer stated that Do Kwon "chose to lie" and "made the wrong choice." In March 2023, Do Kwon was criminally charged with conspiracy to commit fraud, commodity fraud, wire fraud, securities fraud, conspiracy to commit fraud, and involvement in market manipulation and money laundering conspiracy. In August of this year, Do Kwon subsequently pleaded guilty to wire fraud and conspiracy to commit fraud. Do Kwon may face more legal challenges in South Korea, and he must serve at least half of his sentence before he can apply to serve his sentence in South Korea. Additionally, the 17 months he served in a Montenegrin prison will count towards his sentence.
Bloomberg Analyst: 124 Cryptocurrency Asset ETFs Currently Registered in the U.S. Market
Bloomberg ETF Senior Analyst Eric Balchunas shared a graphic showing that as of the end of 2025, there are 124 cryptocurrency-related ETF registration applications in the U.S. market, including: Bitcoin-related products accounting for the highest proportion, with 21 items (of which 18 are based on the 1940 Act derivative structure). This is followed by basket products (15 items), as well as mainstream tokens like XRP (10 items), Solana (9 items), and Ethereum (7 items). Currently, 42 items are spot applications under the 1933 Act, while the rest are derivatives or structured funds.
Industry News
a16z Crypto Annual Report: Decentralized Payment Systems May See Widespread Adoption by 2026
a16z Crypto released its annual report, covering multiple areas including stablecoins, tokenization, payments and finance, privacy, security, AI, and agency. a16z disclosed data indicating that stablecoin transaction volume reached $46 trillion in 2024, exceeding PayPal's transaction volume by 20 times and approaching 3 times that of Visa. The report also mentioned that with the advancement of traditional asset tokenization, especially through crypto technology bringing U.S. stocks, commodities, and indices onto the blockchain. Additionally, a16z projected the integration of AI and crypto technology, expecting decentralized payment systems to see widespread adoption by 2026.
JPMorgan Issues and Settles Short-Term Bonds for Galaxy Digital on Solana Chain
JPMorgan has created, issued, distributed, and settled a short-term bond for Galaxy Digital Holdings LP on the Solana blockchain. This $50 million U.S. commercial paper was reportedly purchased by Coinbase and asset management firm Franklin Templeton, with payment made in USDC stablecoins issued by Circle Internet Group Inc., as stated by the companies in a Thursday announcement. The redemption amount at maturity will also be paid in USDC.
Binance Launches Privacy Intent Indication Feature, Targeting Users with Transactions Over $200,000
Binance announced the launch of a privacy intent indication (IOI) feature, allowing institutional users to express interest in large spot or loan transactions without publicly disclosing market orders. The tool is aimed at traders with transaction amounts exceeding $200,000, designed to help them execute large trades more efficiently through Binance's over-the-counter trading platform.
Project News
Solana Foundation and Blockworks Launch Investor Relations Platform Lightspeed IR
The Solana Foundation has partnered with Blockworks to launch an institutional-level investor relations platform called Lightspeed IR, primarily aimed at liquidity token funds, institutional asset managers, family offices, and Solana ecosystem project parties, expected to go live in the first quarter of 2026.
OSL Group to Issue Stablecoin USDGO, Expected to Launch in Q1 Next Year
OSL Group's Chief Business Officer Zhang Yinghua announced at the Solana Breakpoint 2025 summit that OSL Group will launch the USD stablecoin USDGO in collaboration with the Solana network. OSL Group will serve as the brand and distributor of USDGO, while Anchorage Digital Bank will be the issuer. It is reported that USDGO will be pegged 1:1 to the U.S. dollar and will be subject to U.S. federal regulation, with plans for an official launch in the first quarter of 2026, with Solana being the first supported blockchain.
Investment and Financing
Crypto Startup LI.FI Completes $29 Million Financing, Led by Multicoin and CoinFund
Crypto startup LI.FI announced the completion of $29 million in financing, led by Multicoin and CoinFund, bringing its total financing to $52 million, although the company has not disclosed its latest valuation.
Disney to Make $1 Billion Equity Investment in OpenAI
According to market news, The Walt Disney Company has reached a milestone agreement with OpenAI, where Disney will make a $1 billion equity investment in OpenAI. Disney will become a customer of OpenAI and the first major content licensing partner for OpenAI's Sora model, utilizing its API to build products, tools, and experience services, including projects for Disney+, and deploying ChatGPT for employees.
Indian blockchain remittance startup Frex announced the completion of ₹95 million (approximately $1.05 million) in Pre-Seed round financing, led by Zeropearl VC and White Venture Capital, with participation from several angel investors. The company has built a real-time remittance solution leveraging blockchain technology and local banking partners, primarily providing cross-border remittance services for immigrants and overseas workers.
Regulatory Policies
U.S. CFTC Withdraws 2020 Guidance Focused on "Actual Delivery" of Digital Assets
Caroline Pham, acting chair of the U.S. Commodity Futures Trading Commission (CFTC), stated that the agency is withdrawing "outdated and overly complex guidance" related to the delivery of digital assets. On Thursday, Pham announced that the agency would withdraw the relevant guidance from 2020 under the Dodd-Frank Act. The Dodd-Frank Act is a federal law passed in 2010 aimed at addressing the 2008 financial crisis. The guidance focused on the "actual delivery" of digital assets.
Crypto journalist Eleanor Terrett reported that bipartisan senators in the U.S. held discussions regarding the "Cryptocurrency Market Structure Act." After the meeting, Senator Mark Warner revealed that given the current status of the bill, it would be "very difficult" to review it next week, a sentiment echoed by other senators. It now appears that the U.S. Senate Banking Committee is likely to wait until the new year to review the bill.
Voices
Oaktree Capital Co-Founder: Does Not Believe the Fed Needs to Significantly Cut Rates
Howard Marks, co-founder of Oaktree Capital Management, warned that the Federal Reserve's "intervention" in the cost of funds will push people towards riskier investments as the return environment slows down. He stated that he does not believe interest rates need to be significantly lower than current levels. Marks said, "I think the Fed should mostly remain passive, only stepping in when the economy is severely overheating, trending towards hyperinflation, or in a serious downturn where it cannot create jobs. I don't think we are in that situation right now."
Solana Co-Founder: Stablecoins Are Expanding Rather Than Replacing the Dollar
Anatoly Yakovenko, co-founder of Solana, stated at the Solana Breakpoint conference that the key to achieving growth lies in continuously building the products that people need. He emphasized that stablecoins are a clear direction at present, predicting that there will be between $1 trillion to $10 trillion in stablecoins on-chain in the future, driving the gradual tokenization and on-chain integration of approximately $500 trillion in global assets.
Anatoly stated that the strong property rights protection and free-market capitalism brought by public chains and cryptography do not conflict with Wall Street logic, but rather complement it by eliminating faults and risks through software, thereby expanding Wall Street's financial scale at a faster pace. He emphasized that stablecoins are expanding rather than replacing the dollar, and that L1 networks, especially PoS networks, have clear value capture mechanisms. Solana aims to capture as large a share as possible in this competition.
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