News Preview:
- Hyperliquid (HYPE) will unlock approximately 9.92 million tokens at 3:30 PM Beijing time on December 29, with a circulation ratio of about 2.87%, valued at approximately $256 million;
- The EU Digital Asset Tax Transparency Act will take effect on January 1, requiring crypto service providers to collect and report user transaction information;
- Upbit will conduct server maintenance and routine asset audits on January 1, during which all services will be suspended;
- The Hong Kong Monetary Authority will implement new Basel capital requirements for crypto assets on January 1, 2026;
- Sui (SUI) will unlock approximately 43.69 million tokens at 8:00 AM Beijing time on January 1, with a circulation ratio of about 1.17%, valued at approximately $63.4 million.
December 29
Exchanges:
Guotou Silver LOF announced that the regular investment amount for Class A fund shares will be limited to 100 yuan, effective from December 29, 2025. Previously, the purchase limit for the current Class A shares of this fund was 500 yuan. Recently, the price of silver surged to $69 per ounce, attracting a large influx of funds, and the on-market premium rate of Guotou Silver LOF once reached as high as 68.19%, triggering an arbitrage frenzy. However, the fund manager frequently issued risk warnings and took measures to suspend trading to cool down, pointing out that the high premium is unsustainable, and investors should be wary of the risks of premium convergence and silver price fluctuations. On December 25, after the fund was suspended, it opened with a limit down, and the premium rate fell to 45.45%. Experts remind that silver prices may face a technical correction in the short term, and investments should be made with caution.
Token Unlocking:
Hyperliquid (HYPE) will unlock approximately 9.92 million tokens at 3:30 PM Beijing time on December 29, with a circulation ratio of about 2.87%, valued at approximately $256 million;
December 30
Exchanges:
Binance will delist FDUSD margin trading pairs such as EIGEN/FDUSD and ARB/FDUSD on December 30
According to Binance's announcement, the platform will delist cross and isolated margin trading pairs priced in FDUSD, such as EIGEN/FDUSD, ARB/FDUSD, and TRUMP/FDUSD, at 2:00 PM (UTC+8) on December 30, 2025. The lending function for the aforementioned isolated trading pairs will be suspended starting December 24. The official recommends that users close their positions and transfer assets to their spot accounts before the delisting to avoid potential losses.
Project Updates:
Web3 game studio ChronoForge will shut down on December 30 due to funding shortages
Web3 game studio ChronoForge is set to shut down after months of operating with a significantly reduced team. This shutdown highlights the severe financial pressures facing the Web3 gaming industry during the current market downturn. On Wednesday, the studio announced it would cease all services by December 30, citing "numerous adverse factors," including funding shortages. Since July, funding shortages have forced the founder to personally support development work, and the staff count has decreased by 80%. The team stated that despite the immense financial pressure, they continued to operate, releasing patches and new features, "even without a marketing budget, with income below maintenance levels, losing co-developers, and with the sentiment in the Web3 gaming market being extremely poor."
ChronoForge is developed by Minted Loot Studios. Its associated entity, Rift Foundation, is responsible for overseeing the game's tokens and ecosystem. The foundation raised over $3 million by selling RIFT tokens to support game development. The project was launched in 2022, introducing its first NFT series and beginning early community-building efforts.
The trading terminal Padre announced that after being acquired by Pump.fun, PADRE token holders will receive PUMP tokens based on their holdings according to the snapshot taken on October 24. Holders must submit their Solana wallet addresses by December 30 to claim the tokens. Previously, Pump.fun stated in a tweet announcing the acquisition that PADRE tokens "will no longer have utility on the platform," which sparked strong opposition, leading to the aforementioned measure.
Token Unlocking:
Kamino (KMNO) will unlock approximately 229 million tokens at 8:00 PM Beijing time on December 30, with a circulation ratio of about 5.35%, valued at approximately $11.8 million;
Slash Vision Labs (SVL) will unlock approximately 234 million tokens at 8:00 AM Beijing time on December 30, with a circulation ratio of about 2.96%, valued at approximately $6.8 million;
Zora (ZORA) will unlock approximately 166 million tokens at 8:00 AM Beijing time on December 30, with a circulation ratio of about 4.17%, valued at approximately $6.7 million;
December 31
Macroeconomics:
At 3:00 AM on December 31, the Federal Reserve will release the minutes of its monetary policy meeting.
Exchanges:
Binance will stop services on the Binance Live platform on December 31, 2025. After that, Binance Square will continue to provide live services to users. The Binance Live web and app will stop being accessible at 7:59 AM (UTC+8) on January 1, 2026. From the announcement date until 8:00 AM (UTC+8) on December 1, 2025, any host who creates at least one Binance Live session will automatically gain access to Binance Square Live at 8:00 AM (UTC+8) on December 1, 2025. All points, gifts, and vouchers on Binance Live will expire after 7:59 AM (UTC+8) on January 1, 2026.
Coinbase: The migration deadline for PARSIQ (PRQ) is December 31, 2025
Coinbase Markets tweeted that the migration deadline for PARSIQ (PRQ) is December 31, 2025. If users hold PRQ and wish to convert it to REACT, they must apply for the conversion on the official migration portal using a compatible self-custody wallet.
Project Updates:
Hats Finance will stop its centralized hosted front-end and server operations on December 31
The decentralized security project Hats Finance announced on the X platform that Hats.finance will finalize its hosted operations, as it believes that continuing to run a centralized user interface (UI) and servers is unsustainable, and there are currently no plans to adopt a new legal or operational framework to continue this hosted structure. The current arrangements are as follows: The user front-end and back-end (UI and servers) hosted by Hats.finance are expected to go offline on December 31, 2025, and most functions relying on this hosted structure will gradually be phased out; the Hats protocol remains deployed on-chain and is managed by a DAO, with core contracts designed to run continuously according to code; currently, a version based on IPFS is provided for the user front-end, and as long as this version is still in service, users may access it through public gateways. However, due to the cessation of payments to current fixed service providers (such as Pinata), its continued availability and performance cannot be guaranteed. Users can submit withdrawal requests through the hosted UI until December 17, after which they must interact directly with the contract to complete withdrawals.
Token Unlocking:
Optimism (OP) will unlock approximately 31.34 million tokens at 8:00 AM Beijing time on December 31, with a circulation ratio of about 1.65%, valued at approximately $8.6 million;
January 1
Policy Regulation:
The UK HM Revenue and Customs (HMRC) has issued new regulations requiring cryptocurrency exchanges operating in the UK to begin collecting complete transaction records of all their UK customers starting January 1, 2026, and to share this information with HMRC the following year. HMRC will use the collected data to verify tax returns, ensure compliance, and penalize violations. The new guidelines from HMRC align the UK with the OECD's Crypto Asset Reporting Framework (CARF), which aims to enhance transparency in the rapidly growing digital asset market and is currently being promoted in countries and regions such as the EU, Canada, Australia, Japan, and South Korea.
The EU's latest Digital Asset Tax Transparency Act will take effect on January 1. This directive, known as DAC8, extends the EU's long-standing framework for administrative cooperation in taxation to crypto assets and related service providers. The directive requires crypto asset service providers, including exchanges and brokers, to collect and report detailed user and transaction information to national tax authorities. Subsequently, national tax authorities will share this data among EU member states.
The DAC8 directive operates in parallel with the EU's crypto asset market regulation (MiCA), but they are independent of each other. The MiCA regulation oversees market behavior, while the DAC8 directive regulates tax flows. This directive will take effect on January 1, but cryptocurrency companies will have a transition period. Service providers must achieve full compliance with reporting systems, customer due diligence processes, and internal controls by July 1. Those who fail to report on time will be penalized according to national laws.
The Hong Kong Monetary Authority recently issued a circular confirming that starting January 1, 2026, it will fully implement new banking capital requirements based on the Basel Committee on Banking Supervision's standards for crypto asset regulation in Hong Kong. Fei Si, a partner at King & Wood Mallesons and a lecturer at the University of Hong Kong's Faculty of Law, stated in an interview with Caixin that the new regulation sets the risk weight for crypto asset risk exposures using unlicensed blockchain technology at a maximum of 1250%, meaning banks must hold capital at least at a 1:1 ratio for these crypto asset risk exposures. Such high regulatory capital requirements will lead many banks to be unwilling to hold such crypto assets.
Turkmenistan's cryptocurrency regulatory bill will take effect on January 1, 2026
According to Reuters, the President of Turkmenistan signed a new law on November 28, officially establishing a licensing mechanism for cryptocurrency mining and exchanges, which will take effect on January 1, 2026. The new regulations clarify the legal and economic status of virtual assets, aiming to promote digitalization and attract foreign investment.
The Bank of Lithuania (Lietuvos Bankas) announced that after the legislation incorporates the EU MiCA into domestic law, all crypto service providers must submit license applications by December 31, and providing related services without a license will be illegal starting January 1. Regulatory measures include fines, website bans, and serious cases may violate criminal law, with a maximum sentence of 4 years in prison. The central bank requires those who do not continue operations to promptly notify customers and complete asset returns and migrations. It has been disclosed that only about 30 out of approximately 370 registered entities have applied, with around 120 actually active. Lithuania intends to serve as a "gateway" for MiCA.
Exchanges:
According to an official announcement from Upbit, the exchange will conduct server maintenance and routine audits of digital assets and KRW deposits and withdrawals from 2:00 AM to 8:00 AM (local time) on January 1, 2026. All digital asset deposit and withdrawal operations will be suspended starting at 8:00 PM on December 31, 2025. During the maintenance period, all platform services will be unavailable, and some orders with abnormal prices will be canceled. Users need to check their pending orders and scheduled trades in advance. The end time for maintenance may be adjusted depending on the situation.
Token Unlocking:
Sui (SUI) will unlock approximately 43.69 million tokens at 8:00 AM Beijing time on January 1, 2026, with a circulation ratio of about 1.17%, valued at approximately $63.4 million;
EigenCloud (formerly EigenLayer, EIGEN) will unlock approximately 36.82 million tokens at 12:00 PM Beijing time on January 1, 2026, with a circulation ratio of about 9.74%, valued at approximately $14.4 million;
January 2
Macroeconomics:
On January 2 at 10:45 PM, the U.S. will release the final value of the S&P Global Manufacturing PMI for December.
Token Unlocking:
Ethena (ENA) will unlock approximately 40.63 million tokens at 3:00 PM Beijing time on January 2, 2026, with a circulation ratio of about 0.56%, valued at approximately $8.6 million;
January 3
Project Updates:
Infinex: INX token sale is scheduled for January 3-6, registration is now open
Infinex announced on the X platform that registration for the INX token sale is now open, which will take place from January 3 to 6, 2026, on the Sonar platform, offering 5% of the INX supply, with a final FDV of $99.99 million, locked for one year with an option for early unlocking. The minimum investment for this sale is $200, and the maximum is $2,500, with random allocation but opportunities for bonuses.
January 4
No updates.
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