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Financial markets have shown unusual ripples this week, unsettling risk assets and leading to outlooks among analysts about how much volatility might be coming for XRP. One important under-the-surface development feeding that nervousness is an event in Japanese financial markets that has broader implications for funding and leverage across different asset classes. This opens up the possibility of volatility not only now but also potentially into the next few days, and this could echo into volatile price behavior for XRP.

Rise In Bond Yields Changes The Macro Backdrop

Japan’s government bond market has delivered one massive volatility signal in the past few days. Benchmark yields on the Japanese 10-year government bond have climbed above levels last seen during the 2008 financial crisis, topping 1.8 to 2.0% as markets reassess decades of ultra-low interest rates. 

Japan 10 Year Treasury. Source: @Barchart

This huge increase is as a result of a break from the long era of near-zero borrowing costs in Japan that was reflected in global liquidity, encouraging flows into higher-return assets worldwide. However, the surge in Japanese yields is going to unsettle risk markets and tighten liquidity, and this leads to concerns that the effects could ripple through to risk assets such as cryptocurrencies, including XRP.

Expectations of increased volatility are building as several crypto analysts point to the same macro factor developing outside the cryptocurrency market. Among them is crypto analyst Levi, who noted that Japan’s 10-year government bond yield has officially moved above levels recorded during the 2008 financial crisis. In response to that milestone, Levi warned traders to “get ready for XRP volatility next week,” meaning that the bond market move could spill over into crypto pricing.

A similar view was shared by crypto analyst Ted Pillows, who also highlighted the break above the 2008 yield level and cautioned that the next week is likely to be really volatile.

What It Means for XRP Price Action This Week

One major factor of this milestone has been the Bank of Japan’s decision to raise interest rates after decades of ultra-low policy. The BOJ lifted its benchmark short-term rate to around 0.75%, its highest in about 30 years, in response to persistent inflation above its 2% target and stronger wage growth. 

A bond’s yield and price move in opposite directions: when yields rise, bond prices fall. As the fourth largest economy in the world, rising yields in Japan matter in terms of a global perspective because they affect global capital flows and risk sentiment.

This change in global liquidity conditions can feed into XRP’s price movements in several ways. Rising yields means tighter financial conditions, meaning leveraged positions become more costly to maintain. Bonds also offer higher yields, which means investors are less likely to invest in stocks and cryptocurrencies, including XRP.

According to VanEck analysts, Bitcoin’s hashrate fell 4% over the month to Dec. 15. That move has caught the attention of market watchers because past instances of hashrate declines have often come before price gains.

VanEck’s Matt Sigel and Patrick Bush point to historical patterns: when hashrate fell over the prior 30 days, Bitcoin’s 90-day forward returns were positive 65% of the time, compared with 54% when hashrate rose. Numbers matter here, and traders are treating them as part of the evidence mix.

Hashrate Compression Can Signal Recoveries

Reports have disclosed that longer windows look better for bulls. When hashrate contracted and stayed low, the odds of a recovery improved over wider horizons. Negative 90-day hashrate growth was followed by positive 180-day Bitcoin returns 77% of the time, with an average gain of 72%.

The math is clear and the pattern is consistent enough to make investors take notice. Miner economics add to the story: the break-even electricity price on a 2022-era Bitmain S19 XP dropped nearly 36% from $0.12 per kilowatt-hour in Dec. 2024 to $0.077/kWh by mid-December. That shift squeezes margins and forces marginal operators to rethink their rigs.

Miners Exit, Markets Watch

Some capacity has left the network. VanEck tied the recent 4% decline to a shutdown of roughly 1.3 gigawatts of mining power in China. Analysts also warn that rising demand for AI compute could pull capacity away from Bitcoin, a trend they estimate might erase 10% of the network’s hashrate.

That would redistribute mining activity and could concentrate operations where power and policy align. At the same time, support for mining has not disappeared worldwide. Based on reports, up to 13 countries are backing mining activities, including Russia, Japan, France, El Salvador, Bhutan, Iran, UAE, Oman, Ethiopia, Argentina, and Kenya.

Price And Market Context

Bitcoin is trading near $88,600, down nearly 30% from its Oct. 6 all-time high of $126,080. Markets have been quiet around year-end and thin liquidity can hide real momentum.

BTC was monitored as steady near $89K in recent coverage and remained range-bound as traders weighed supply and demand signals. Other cross-asset moves matter too. Gold climbed above $4,400/oz while silver reached $69.44/oz, moves that some investors see as part of a broader safe-haven bid.

The data points suggest a cautious optimism. Miner capitulation has worked as a contrarian signal historically — weaker miners exit, difficulty adjusts, and surviving operators face less near-term selling pressure. That sequence can set the stage for price stabilization and gains over months.

Featured image from Pixabay, chart from TradingView

VanEck is setting expectations for Bitcoin in 2026 with a tone that’s closer to the risk committee than crypto Twitter: the next year looks more like consolidation than a dramatic regime shift.

In its Dec. 18 note, “Plan for 2026: Predictions from Our Portfolio Managers,” Matthew Sigel, VanEck’s head of digital assets research, argues that the signal set heading into 2026 is “mixed but constructive.” The framework is deliberately restrained: volatility has come down, leverage has been washed out in stages, and on-chain activity is still soft but not deteriorating the way it tends to during deeper cyclical breaks.

“Realized volatility has… dropped by roughly half. That implies a proportional drawdown of about 40%. The market has already absorbed roughly 35%.”

Sigel anchors part of the call in cycle structure. He writes that Bitcoin’s historical four-year rhythm, which has tended to peak in the immediate post-election window, “remains intact following the early October 2025 high.” If that template is still operative, 2026 is less likely to be a clean continuation year.

Bitcoin Prediction For 2026: What To Expect

“That pattern suggests 2026 is more likely a consolidation year. Not a melt-up. Not a collapse.” The more interesting part is the “why,” because VanEck isn’t leaning on a single factor. Sigel describes three lenses shaping the outlook, and they are not uniformly supportive. “Global liquidity is mixed. Likely rate cuts provide support. US liquidity is tightening somewhat.”

He ties that tightening to a specific macro dynamic: “AI-driven capex fears” colliding with a more fragile funding market and pushing credit spreads wider. Put differently, even if policy rates drift lower, the broader cost-of-capital environment can still work against risk-taking at the margin — especially where refinancing needs are persistent and investor selectivity is rising.

Against that backdrop, the portfolio guidance is measured. VanEck favors a “disciplined 1 to 3% Bitcoin allocation,” built through dollar-cost averaging, with adds during leverage-driven dislocations and trims into speculative excess. It’s positioning for a market that oscillates, not one that trends cleanly.

Sigel also flags a topic that has shifted from niche to mainstream inside the Bitcoin community: quantum security. VanEck doesn’t present it as an imminent risk to the chain, but it does treat it as an organizing question that could draw serious attention.

“Quantum security has become an active topic. It’s not an immediate threat. A coordinated response could resemble the first blocksize debates.”

That last line matters more than it sounds. The blocksize era wasn’t only a technical dispute; it was a public process that pulled in new stakeholders, forced trade-offs into the open, and hardened long-term norms. VanEck’s suggestion is that, if quantum planning becomes a sustained coordination exercise, it could have a similar “transparent and technically rich” dynamic, messy, visible, and ultimately strengthening engagement.

Where VanEck is most constructive for 2026 is not necessarily spot BTC, but the capital cycle around Bitcoin mining. Sigel argues the strongest opportunity sits in what he calls the “capital-intensive pivot” as operators try to finance both hash-rate expansion and AI/HPC infrastructure simultaneously.

That combination is stretching balance sheets and widening dispersion across the sector: miners with hyperscaler partnerships can raise straight debt on comparatively favorable terms, while weaker names are pushed toward dilutive converts or selling BTC into weakness.

“This creates the cleanest consolidation setup since 2020 to 2021. The best risk-reward is in miners transitioning into energy-backed compute platforms. Credible HPC economics, advantaged power, and financing paths that avoid serial dilution.”

A second opportunity set is digital payments and stablecoin settlement, but VanEck is selective. Sigel sees stablecoins moving into real B2B payment flows, improving working capital management and lowering cross-border settlement costs.

“The more investable angle may sit in fintech and e-commerce platforms that can unlock margin leverage by shifting supplier payments, payouts, and cross-border settlement onto stablecoins. High-throughput chains will support much of this activity, and a few tokens tied to genuine usage may benefit, but we believe the most durable opportunity may lie in the operating companies enabling adoption rather than in broad token exposure,” Sigel writes.

The overall message is not bearish, and it is not euphoric. It is, in a very deliberate way, a call for discipline: expect range-bound conditions, look for dislocations, and focus on parts of the ecosystem where balance-sheet stress and real-world adoption can create asymmetry.

At press time, Bitcoin traded at $87,423.

Featured image created with DALL.E, chart from TradingView.com

Thursday, December 18, 2025 – CoinGecko has recently released its State of Meme Coins report for 2025, and one detail stands out: even when Dogecoin (DOGE) is excluded, dog-themed tokens still control a dominant 39.5% of the meme coin sector.

Against this backdrop, a new project focused on crowd coordination is positioning itself to rally investors around what it calls a once-in-a-lifetime pump. That project is Maxi Doge (MAXI).

As the next phase of the meme coin cycle appears to move away from irony and lean more toward exaggerated, almost absurd sincerity, Maxi Doge fits neatly into that shift. The project uses simple, instantly recognizable branding built around a bulked-up version of DOGE a 240-lb, Red Bull-fueled caricature designed to be immediately identifiable and easy for traders to rally behind at launch.

Time, however, is a key factor. Only 14 hours remain before the current presale price of $0.0002735 increases in the next stage.

CoinGecko data points to a new phase for meme coins

At present, the meme coin sector has a combined market value of roughly $37 billion. This is just a fraction of its peak in the same period last year, when total valuations briefly surged to around $150 billion.

According to CoinGecko’s report, DOGE continues to be the sector’s standout performer, holding a 47.3% market share as of last month. The original meme coin is currently valued at approximately $19 billion, while dog-themed tokens as a whole account for 39.5% of the entire meme coin market.

These figures show that the market still has clear favorites, but they also highlight how the drivers of bullish momentum are evolving. CoinGecko’s own timeline of meme coin waves illustrates this change clearly.

Earlier cycles were shaped by irony, parody, and inside jokes that rewarded those who were “in on it.” More recent waves including Animal Kingdom tokens, AI memes, and PolitiFi coins have been powered by themes that are louder, more literal, and immediately understandable.

In today’s market, nuance has largely been replaced by clarity, and subtle humor has given way to exaggeration. As meme cycles become faster and more fragmented, tokens that fully commit to a clear identity tend to spread more quickly than those that require explanation.

This shift from irony toward what can be described as absurd sincerity is becoming one of the defining features of the current meme coin landscape. Maxi Doge was built specifically for this transition, leaning fully into exaggerated clarity and absurd sincerity to position itself as an instantly recognizable rally point in a meme market that now rewards commitment over cleverness.

Why Maxi Doge Aligns With the New Meme Coin Phase

Maxi Doge doesn’t try to reinterpret meme culture or make commentary on it. Instead, it operates squarely within the meme ecosystem as it exists today.

The project commits fully to one oversized, exaggerated concept and builds everything around making that idea instantly visible, easy to remember, and simple for people to rally behind once the token appears on exchanges.

Its muscle-bound Shiba Inu mascot isn’t meant to be ironic or playful in a tongue-in-cheek way. It serves as a visual shortcut. At a glance, traders understand what kind of token this is and the type of audience it’s designed to attract. That kind of immediacy matters in a market where attention spans are short and momentum can form fast.

This approach goes beyond visuals and carries into distribution as well. By directing a substantial share of presale funds toward marketing, Maxi Doge focuses on presence rather than discovery. Instead of waiting for users to stumble upon it, the project is built to remain visible across crypto social platforms as interest grows.

Rather than positioning itself as a commentary on meme culture, Maxi Doge functions as a direct product of it shaped by how stories spread, how crowds form, and how momentum compounds in the current market cycle.

Second place is loser talk. $MAXI is the only play in crypto. pic.twitter.com/2S0G5KgGir

— MaxiDoge (@MaxiDoge_) November 21, 2025

Why Timing Matters as Meme Coins Enter a New Phase

Maxi Doge is still in its presale stage, but that opportunity may not last much longer. Those looking to secure MAXI at the lowest available price can do so by visiting the Maxi Doge presale site and connecting their preferred wallet. The project points users toward Best Wallet, a widely used crypto wallet that supports purchases via ETH, BNB, USDT, USDC, and even bank cards.

Best Wallet is available on both Google Play and the Apple App Store, allowing users to buy, track, and manage their MAXI holdings from a single, streamlined interface.

Presale participants also have access to passive rewards. MAXI tokens staked through the project’s native protocol currently offer a dynamic 71% APY. On the security side, Maxi Doge’s smart contract has undergone audits by Coinsult and SOLIDProof, verifying the safety and integrity of the code.

Those who want to stay informed can join the expanding Maxi Doge community on X and Telegram.

加密貨幣市場的快速進化雖然帶來了財富契機，卻也伴隨著日新月異的犯罪手法。近期一起令全球幣圈震驚的「地址投毒（Address Poisoning）」攻擊事件，讓一名經驗豐富的資深交易員在轉瞬間失去了近 5,000 萬美元的 USDT。這起天價被盜案不僅揭露了駭客對心理學與區塊鏈技術的精準操控，更為所有投資者敲響了資安警鐘：在追求收益的道路上，哪怕是幾秒鐘的核對疏忽，都可能導致資產徹底清零。

致命的「相似性」：拆解地址投毒的心理陷阱

地址投毒並非傳統意義上的技術暴力破解，而是一種針對人類視覺慣性設計的進階釣魚手法。駭客首先會透過鏈上數據監控目標巨鯨的日常往來對象，隨後利用地址生成工具製造出一個與受害者常用地址極其相似的「假地址」——其開頭與結尾的幾個字元完全一致，僅有中間部分不同。

為了讓這個假地址滲透進受害者的交易視野，駭客會主動發送一筆小額或零價值的交易。這項舉動的目的在於讓假地址自動進入錢包的「最近交易記錄」。當受害者下次準備進行大額轉帳時，若習慣性地從歷史記錄中複製地址，且僅核對首尾幾位數，便會落入駭客預設的陷阱。這起損失 5,000 萬美元的案件中，受害者正是因為過度信任錢包記錄中的「相似外觀」，才誤將巨款匯入了駭客的錢包。由於這類資金往往會迅速透過 Tornado Cash 等混幣平台洗淨，受害者想要追回資金的機會微乎其微。

從守護資產到佈局未來：比特幣 Layer2 的敘事變革

在資安風險頻傳的環境下，市場資金正逐漸向具備更高技術門檻與安全框架的基礎建設靠攏，其中「比特幣 Layer2」已成為 2025 年末最受矚目的賽道。隨著比特幣從數位黃金轉向可編程資產，投資者開始尋找既能繼承比特幣安全性，又能提供高效交易環境的解決方案。在這一波技術浪潮中，Bitcoin Hyper ($HYPER) 憑藉其獨特的技術架構脫穎而出，成為市場公認的黑馬。

Bitcoin Hyper 的核心優勢在於引進了高性能的 Solana 虛擬機 (SVM)。這項創新打破了比特幣主網長久以來的性能瓶頸，讓比特幣生態首次具備了亞秒級的交易處理能力與極低的 Gas 費。不同於傳統的中心化方案，Bitcoin Hyper 採用非託管式的橋接設計，確保資產在跨鏈過程中依然能享有比特幣級別的安全性。這種「比特幣的安全性加上 Solana 的速度」之組合，正吸引著大量避險資金與尋求創新的投資者。

預售近 3,000 萬美元：搶佔 Bitcoin Hyper 上線前的黃金期

Bitcoin Hyper 在預售階段展現了驚人的募資動能，目前已成功籌集超過 2,970 萬美元。隨著主網預計於 2026 年初上線，目前的預售價格定在 $0.013465，被視為進入該生態系統最具競爭力的門檻。為了獎勵早期支持者，項目還提供了高達 39% 以上的質押年化收益，讓參與者在等待代幣正式上線的過程中，能透過鎖倉獲得持續的複利回報。

對於那些經歷過主流幣波動、希望在具備實質技術支撐的基礎建設中尋找機會的投資者來說，Bitcoin Hyper 的出現正好契合了市場對「高性能比特幣生態」的渴求。如果您想深入了解參與流程，可以參考這份詳盡的如何購買 Bitcoin Hyper 教學指南，確保在正確的通道中安全佈局。

立即進入Bitcoin Hyper預售

結論：在風險中尋找確定的成長機會

無論是巨鯨被盜 5,000 萬美元的慘痛教訓，還是 Bitcoin Hyper 募資將破 3,000 萬美元的熱度，都傳遞了一個核心訊息：加密市場正處於高度專業化與技術化轉型的關鍵期。投資者不僅需要培養嚴謹的資安習慣，完整核對每一個轉帳字元，更需要具備辨識高品質項目的眼光。

隨著 2026 年的腳步臨近，比特幣生態的爆發已成為必然趨勢。在確保資產安全的前提下，積極配置如 Bitcoin Hyper 這樣具備底層技術革新的 Layer2 項目，或許是應對市場不確定性、捕捉下一波牛市紅利的最佳路徑。請務必記住，在區塊鏈的世界裡，唯有謹慎與前瞻兼具，才能在巨浪中穩步前行。

 

On Monday, US-based cryptocurrency exchange Coinbase (COIN) announced its tenth acquisition of the year, revealing plans to acquire The Clearing Company, a prediction market start-up.

Coinbase Unveils Ambitious Plans

The announcement comes on the heels of Coinbase unveiling its plans to launch a suite of new products aimed at transforming its platform into a comprehensive financial application. This initiative includes integrating stocks, advanced trading tools, and prediction markets into its services. 

CEO Brian Armstrong envisions Coinbase as a one-stop destination for a variety of trades, from stocks to streamlined futures and perpetual contracts, bolstered by a partnership with Kalshi that emphasizes prediction markets.

The mainstream emergence of prediction markets during the 2024 US presidential race with platforms such as Kalshi and Polymarket taking the helm has sparked significant interest and investment across the broader financial sector. 

This trend is particularly timely as trading platforms are increasingly expanding their product suites to cover multiple asset classes, a necessary adaptation as competition intensifies in the industry. 

Analysts suggest that this shift could help Coinbase reduce its dependence on cryptocurrency trading, especially as new players enter the market.

Prediction markets are expected to enhance engagement on the Coinbase platform, providing a high-frequency product that attracts users beyond traditional crypto transactions. 

Analysts from Benchmark highlighted this potential, noting that prediction markets could encourage greater user interaction with the app.

Following the announcement, JP Morgan analysts remarked that many of the exchange’s new initiatives are designed to encourage customer engagement, an area that has seen limitations in the past.

Although the terms of the transaction have not been disclosed, the deal for The Clearing Company — part of what Coinbase calls ‘the Everything Exchange’ — is expected to close in January 2026. 

Major Platform Overhaul

Among its notable acquisitions this year, Coinbase previously agreed to acquire the derivatives exchange Deribit for $2.9 billion in May and later struck a deal for investment platform Echo, valued at approximately $375 million in October.

Coinbase’s ambitions in trading do not stop with the acquisition of The Clearing Company. The exchange seeks to introduce its version of outcome trading as part of a broader push toward a unified brokerage service that combines traditional assets, derivatives, and blockchain capabilities. 

In line with this effort, the cryptocurrency exchange is launching “Coinbase Tokenize,” an institutional-grade infrastructure designed to facilitate the tokenization of real-world assets (RWAs). 

Beyond retail trading, Coinbase is also broadening its appeal to businesses and developers. The company has announced that Coinbase Business will now be accessible to qualifying customers in the US and Singapore, alongside an expanded API suite that includes services like custody, payments, trading, and stablecoins.

Moreover, the firm plans to introduce “custom stablecoins” tailored for companies needing branded solutions. The exchange is also highlighting its x402 payments standard, aimed at streamlining stablecoin transactions associated with web requests.

On Monday, the exchange’s stock, which trades under the ticker name COIN, closed the trading session at $247.90. 

Featured image from Shutterstock, chart from TradingView.com 

With the Bitcoin price still struggling to surmount $90,000, the $100,000 level seems more like a dream as the year is quickly running to an end. The continuous struggle for the cryptocurrency to break out has caused sentiment to sink deeper into the negative, and with liquidity dropping toward record lows, the chances of a rally above $100,000 are still low. Nevertheless, there are some in the community that believe that Bitcoin can still stage a breakout above this level.

Why Bitcoin Price Could Still Reclaim $100,000 This Month

According to a post by crypto analyst The Penguin XBT on X (formerly Twitter), the Bitcoin price is still looking good from here. This is because the structure remains incredibly clean and continues to look clean across all timeframes, hence showing more bullish tendencies than bearish.

As the price continues to trade inside the range of $86,000 and $89,000, the crypto analyst believes that there is still a chance of a recovery. However, the chances of it going either way are still quite high, and a breakout or breakdown could be the result from here.

In the case of a breakout, then the crypto analyst sees the Bitcoin price climbing above $100,000. More importantly, the analyst believes that this break could still happen this month, with less than two weeks to go before the year ends. The upper end of this breakout is placed above $107,000, where there is still major resistance.

On the flip side of this, where the Bitcoin price breaks down, then the crypto analyst sees a less significant move. This would put Bitcoin as low as $80,000, but with the expectation that there will be some support at this level.

The technical analysis highlights the fact that the Bitcoin price has already played out a clear leading diagonal for Wave 1. With this complete, they expect that the Wave 3 will be underway, something that could possibly trigger the next upward move.

“Structure is doing exactly what it should. No rush here. More patience than action,” the crypto analyst explained in the post. Thus, it is only a matter of time to see how the Bitcoin price moves before mapping out a clear trajectory.

As crypto staking shifts from a niche activity to a mainstream practice, long-standing gaps in U.S. tax policy are coming under closer scrutiny in Washington, with lawmakers warning that unclear and inconsistent rules could discourage participation in blockchain networks and complicate compliance for millions of investors.

Related Reading: Bitcoin Long-Term Holders Stay Resilient, But Profits Haven’t Fully Arrived – Here’s What To Know

With the 2026 tax year nearing, 18 bipartisan House lawmakers have urged the Internal Revenue Service to review staking tax guidance, arguing it results in double taxation, creating administrative burdens and failing to reflect actual economic gains, especially during volatile markets.

Lawmakers Press IRS Ahead of 2026

In a letter led by Representative Mike Carey, lawmakers asked whether any administrative barriers stand in the way of updating staking guidance before the end of the year. They argue that taxing rewards only at the point of sale would better capture actual economic gain while reducing reporting complexity.

The group also warned that current rules may discourage staking participation, which plays a critical role in securing proof-of-stake blockchains and maintaining network resilience.

The timing is deliberate. Several tax provisions are set to expire in 2026, and lawmakers want clarity on staking before broader tax debates take precedence. They also noted that prolonged uncertainty could invite unfavorable court rulings that lock in interpretations through precedent rather than policy.

The PARITY Act and Broader Crypto Tax Reform

Alongside the IRS letter, Representatives Steven Horsford and Max Miller have introduced a discussion draft known as the Digital Asset PARITY Act.

The proposal takes a wider view of crypto taxation, including a de minimis exemption for regulated stablecoin payments used in everyday transactions. Small gains or losses from these payments would generally not be taxed, mirroring existing treatment for low-value foreign currency exchanges.

For staking and mining, the PARITY Act stops short of eliminating immediate taxation but proposes allowing taxpayers to defer income recognition for up to five years.

Supporters say this could provide interim relief while lawmakers work toward permanent clarity. The bill also extends wash-sale rules and certain securities tax provisions to actively traded digital assets, aiming to curb abuse without expanding loopholes.

What Comes Next for Crypto Investors

Together, these efforts signal growing consensus in Congress that crypto taxation needs refinement rather than piecemeal fixes. While no changes are guaranteed, the push to address staking double taxation reflects a shift toward more technical, outcome-focused policymaking.

Related Reading: XRP ETFs Attract Global Pension Funds And Insurers, Canary CEO Reveals

For investors and network participants, the next year could determine whether staking remains burdened by uncertainty or moves toward a clearer, more predictable tax framework.

Cover image from ChatGPT, ETHUSD chart from Tradingview

The Financial Times has recently reported on alleged compliance breaches at Binance, with leaked internal documents revealing that hundreds of millions of dollars have flowed through accounts flagged for suspicious activity, despite the exchange having committed to enhancing its controls as part of a 2023 settlement with US authorities.

Former Prosecutor Flags Binance Activity As Suspicious

According to the data reviewed by the Financial Times, multiple accounts associated with alarming red flags—such as links to terror financing, unusual login patterns, and failed identity verifications—continued to operate after the firm’s plea agreement. 

Among the accounts flagged, 13 suspicious accounts processed $1.7 billion in transactions, with $144 million occurring after the settlement was reached. 

One particularly questionable account received over $177 million in crypto across two years, exhibiting suspicious behavior like changing its banking details 647 times in just 14 months, cycling through 496 unique accounts across the Americas. 

Stefan Cassella, a former federal prosecutor, remarked, “That qualifies as suspicious. It looks like someone is acting as a money-transmitting business.”

Further deepening the controversy is an account who moved $93 million through Binance between 2021 and 2025. Part of this money allegedly derived from a network later accused by US officials of covertly transferring funds for Iran and the Lebanese group Hezbollah. 

Exchange Claims Robust Compliance Measures

The leaked documents also show that all 13 accounts received a combined total of $29 million in Tether’s USDT stablecoin from accounts that Israel subsequently froze under anti-terrorism laws. 

Nearly all of these transactions stemmed from four crypto wallets tied to Tawfiq Al-Law, a Syrian alleged to have funneled funds for Hezbollah and Iran-backed Houthi forces. Israel seized these accounts in May 2023, and the US Treasury sanctioned Al-Law in March 2024.

In response to these allegations, Binance asserted that it “maintains strict compliance controls and a zero-tolerance approach to illicit activity,” claiming that it has “robust systems in place to flag and investigate suspicious transactions.” 

Following the settlement, both the Justice Department and Treasury appointed independent monitors in May 2024 to oversee Binance’s compliance measures. However, many of the transactions the FT examined occurred after this oversight began.

Jessica Davis, a former intelligence official from Canada, noted that “a relaxed compliance environment” followed President Trump’s pardon for Binance’s former CEO Changpeng Zhao (CZ) earlier this year. Davis claimed: 

Previously, the incentive was: keep your CEO out of jail. Yes, there are fines, but part of the problem is that we’re just talking about so much money being made on these platforms that even a billion-dollar fine becomes fairly meaningless.

At the time of writing, the exchange’s native token, BNB, was trading at $867.42. This is over 37% lower than its all-time high of $1,369, which was reached in October of this year. 

Featured image from DALL-E, chart from TradingView.com

Bitcoin (BTC) is entering the final trading days of 2025 stuck between improving demand signals and a market structure that limits upside. Prices have remained range-bound in the high-$80,000 area as thin holiday liquidity and year-end positioning mute the impact of shifting sentiment.

At these levels, Bitcoin is trading near the average cost basis of U.S. spot ETF holders, creating a key pressure zone. On-chain data shows neither panic selling nor strong inflows, pointing instead to consolidation as traders wait for a clearer catalyst in low-liquidity conditions.

Bitcoin ETF Breakeven Levels Shape Short-Term Risk

A large share of ETF-linked capital is now sitting near breakeven, making price behavior around this zone especially sensitive. Analysts note that a clean break below the $88,000 area could encourage more defensive positioning, particularly if thin holiday trading amplifies volatility.

On the upside, reclaiming and holding levels above $90,000 would suggest that overhead supply from flat or nervous holders is finally being absorbed.

Despite muted price action, buying interest has not disappeared. Exchange outflows and whale accumulation have picked up in recent days, indicating that some investors are using the range to build positions rather than exit them.

Futures data, meanwhile, shows a gradual reduction in leverage instead of forced liquidations, pointing to controlled risk management rather than stress.

Gold’s Strength Highlights Risk Rotation

While Bitcoin remains range-bound, gold has pushed to fresh all-time highs, underscoring a clear preference for traditional safe havens.

The divergence reflects a market still focused on capital preservation as uncertainty around growth and inflation lingers. Expectations for further rate cuts by the Federal Reserve in 2026 have supported broader risk sentiment, but the impact on crypto has so far been limited by positioning and timing.

Historically, Bitcoin has often lagged major moves in gold, reacting later once liquidity improves and risk appetite returns. For now, that pattern appears intact. With economic data releases light but closely watched, traders are approaching year-end cautiously.

Until liquidity returns in early 2026, Bitcoin may remain capped, even as underlying demand quietly builds beneath the surface.

Cover image from ChatGPT, BTCUSD chart from Tradingview

Bitcoin treasury company Strategy hasn’t announced any new BTC buy this week, but it has made an expansion to its recently-created USD reserve.

Strategy’s USD Reserve Now Stands At $2.19 Billion

As announced by Strategy co-founder and chairman Michael Saylor in an X post, the company has increased its US Dollar (USD) reserve by $748 million. Strategy first created the USD Reserve at the start of December, allocating $1.44 billion to it.

During the announcement of the reserve, Saylor noted, “we believe it will better position us to navigate short-term market volatility while delivering on our vision of being the world’s leading issuer of Digital Credit.” The reserve’s existence didn’t mean that the firm paused Bitcoin acquisitions, as it made a purchase alongside the establishment of the USD reserve itself and on the two Mondays that followed.

The Bitcoin purchase that came alongside the announcement was relatively small, but the two in the following weeks were some of the biggest of the year, each adding nearly $1 billion in tokens to the company’s treasury.

The latest addition to the USD reserve, however, has come without a BTC purchase from Strategy. According to the filing with the US Securities and Exchange Commission (SEC), the firm funded the expansion using sales of its MSTR at-the-market (ATM) stock offering.

Strategy’s USD reserve now holds around $2.19 billion, while its Bitcoin treasury is unchanged from last week’s figure of 671,268 BTC (worth $60.24 billion at the current exchange rate).

Just like how BTC buys from Strategy usually precede a Sunday X post from Saylor with an image of the company’s portfolio tracker, the same tradition appears to be forming for USD reserve expansions as well.

Before the initial announcement, Saylor made the portfolio tracker post with the caption: “What if we start adding green dots?” The chairman usually uses “orange dots” when referring to BTC, so this immediately hinted that something new was brewing.

“Green dots” turned out to be additions to the USD reserve. The Sunday post before the latest purchase also used the same terminology, as Saylor said, “Green Dots ₿eget Orange Dots.”

Strategy continues to be by far the biggest Bitcoin treasury company in the world, as data from BitcoinTreasuries.net shows.

Strategy isn’t the only cryptocurrency treasury firm that has made an announcement on Monday. Bitmine has also shared a new press release with an update for its Ethereum holdings.

Originally a mining-focused company, Bitmine pivoted to an ETH treasury strategy in mid-2025. Since then, the firm has been an active buyer of the cryptocurrency and has established itself as the largest digital asset corporate holder behind Strategy.

Bitmine added 98,852 ETH (around $300.75 million) during the past week and now holds 4,066,062 ETH ($12.37 billion), equivalent to 3.37% of the asset’s total supply in circulation. “We are making rapid progress towards the ‘alchemy of 5%’ and we are already seeing the synergies borne from our substantial ETH holdings,” said Tom Lee, Bitmine chairman.

BTC Price

At the time of writing, Bitcoin is floating around $89,700, up almost 4% in the last seven weeks.

Hong Kong is reportedly exploring new rules that would allow insurance companies to invest in cryptocurrencies and the infrastructure sector as part of its efforts to become a leading hub for digital assets and support broader economic development.

Hong Kong Eyes Crypto Investments For Insurers

On Monday, Bloomberg reported that the Hong Kong Insurance Authority has proposed a set of new rules that could channel insurance capital into digital assets, including cryptocurrencies and stablecoins.

Hong Kong financial authorities have been actively working to develop a comprehensive framework that supports the expansion of the digital assets industry, part of its strategy to become a leading crypto hub in the world.

According to the December 4 presentation reviewed by Bloomberg, the insurance regulator would impose a 100% risk charge on crypto assets, requiring insurers to hold reserves equal to the value of their crypto investments.

Meanwhile, stablecoin investments would be approached differently under the new proposal, with risk charges based on the fiat currency the Hong Kong-regulated token is pegged to.

The Insurance Authority proposal, which could still change in the coming months, will reportedly be open for public consultation from February through April 2026, followed by legislative submissions.

The regulator told Bloomberg that it initiated the review of the risk-based capital regime this year with the main goal of supporting the insurance industry and broader economic development.

Notably, the insurance authority website states that there were 158 authorized insurers in Hong Kong as of June 2025. Moreover, the total gross premiums of the Hong Kong insurance industry were HK$635 billion, worth approximately $82 billion, in 2024.

“We are at the stage of gauging industry feedback and will also put the proposals for public consultation in due course,” a spokesperson for the regulator told the news media outlet.

The proposed insurer framework also addresses new infrastructure rules as the city seeks new growth. The regulator is reportedly planning capital incentives for investments in Hong Kong or on the mainland, as well as for projects listed or issued in the financial hub.

HK’s Stablecoin Landscape

As Bloomberg noted, the Hong Kong Monetary Authority (HKMA) is expected to grant the first batch of stablecoin issuer licenses at the start of 2026. However, some industry players believe that the regulator’s timeline could be delayed.

As reported by Bitcoinist, the People’s Bank of China (PBOC) and other top financial regulators recently affirmed that stablecoins do not qualify as legal tender in the mainland, as they don’t meet regulatory requirements and risk of being used for illegal activities.

Following the pronouncement, multiple analysts suggested that the PBOC’s recent declarations not only sank hopes that Beijing might have softened its stance on cryptocurrencies but also would affect Hong Kong’s efforts to become a hub for the stablecoin industry.

Earlier this year, the HKMA enacted the Stablecoins Ordinance, which directs any individual or entity seeking to issue a fiat-referenced stablecoin (FRS) in Hong Kong, or any Hong Kong Dollar-pegged token, to obtain a license from the regulator.

Multiple companies have applied for the license, with more than 30 applications filed this year, according to local news outlets. The list of applicants includes logistics technology firm Reitar Logtech and the overseas arm of Chinese mainland financial technology giant Ant Group.

According to the founding director of the Law, Innovation, Technology and Entrepreneurship Lab at the University of Hong Kong’s Faculty of Law, Brian Tang, Beijing’s stance means that applicants for Hong Kong’s stablecoin licenses would need to reconsider if the application submitted to the HKMA touches mainland China issuers and users.

A spokesperson stated that the HKMA was reviewing the applications and aimed to begin with a reduced number of licenses. However, they noted that even if Hong Kong proceeds with the original approval schedule, projects that involve the yuan or mainland Chinese institutions would likely be delayed.

In the midst of a transforming crypto landscape in the US following the return of President Donald Trump to the White House, top Wall Street institutions are increasingly seeking to provide investors with opportunities in the digital asset market. 

In line with this growing trend, Bloomberg reported on Monday that JPMorgan — led by the Bitcoin-sceptical CEO, Jamie Dimon — is now considering introducing cryptocurrency trading for institutional clients.

JPMorgan’s Potential Crypto Move

Sources familiar with the bank’s plans revealed that JPMorgan’s markets division is evaluating potential products and services to enhance its presence in the cryptocurrency sector. 

Notably, this exploration could encompass both spot and derivatives trading, although concrete details remain under wraps as discussions are still in preliminary stages.

The impetus for these efforts appears to be rising client interest, particularly in light of recent regulatory changes surrounding digital assets in the US. As these regulatory frameworks become more defined, JPMorgan aims to assess the demand for specific products while also evaluating the associated risks and opportunities.

Bloomberg’s report underscores that while JPMorgan has maintained an active role in blockchain initiatives, a move into crypto trading would mark a significant shift. 

Trump’s administration has appointed regulatory officials friendly to the crypto industry in both the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). 

Furthermore, the country’s first stablecoin bill has passed under the GENIUS Act. However, the anticipated crypto market structure bill (CLARITY Act) is not expected to be passed this year, despite bipartisan negotiations, as it is scheduled for January markups. 

JPMorgan’s move also comes as, earlier this month, the Office of the Comptroller of the Currency (OCC) issued a new guidance permitting national banks to act as intermediaries in crypto transactions.

Dimon’s Turnaround

For JPMorgan and its CEO, which once saw the market’s leading cryptocurrency, Bitcoin, as a mere “pet rock,” this strategic pivot signifies a broader adaptation to the evolving investment landscape. 

Dimon’s recent comments suggest a more pragmatic approach. He acknowledged individuals’ rights to invest in Bitcoin, stating, “I defend your right to buy Bitcoin. Go at it,” during an investor conference held in May.

JPMorgan has been proactive in exploring digital asset opportunities, including their recent facilitation of the creation, distribution, and settlement of a short-term bond for Galaxy Digital Holdings LP on the Solana (SOL) blockchain. 

Scott Lucas, who heads the Markets Digital Assets division at JPMorgan, expressed confidence in the growing demand for such innovation, indicating plans to expand the bank’s role in this area. “In the first half of next year, we intend to build on this momentum,” Lucas noted.

Bitcoin was trading at $89,508 at the time of writing, up 1.5% over the previous 24 hours and 7 days. While trading in a limited range, BTC still has a 29% difference between current trading prices and all-time highs set earlier this year, around $126,000.

Featured image from Reuters, chart from TradingView.com 

Data shows the transaction volume of USDT and USDC on Tron is now more than 10 times the transfer volume of the entire XRP network.

Tron Stablecoin Volume Is Significantly Higher Than XRP Activity

In a new post on X, Glassnode lead research analyst CryptoVizArt.₿ has discussed how stablecoin settlement on the Tron network compares against the transaction activity of XRP. Stablecoins are digital assets that have their value pegged to a fiat currency. The vast majority of this space is currently dominated by two tokens tied to the US dollar: USDT and USDC.

These cryptocurrencies are available on several blockchains, with a major one being Tron. Below is the chart shared by CryptoVizArt.₿ that shows the trend in the 90-day simple moving average (SMA) of the combined transfer volume of USDT and USDC on the network over the last few years.

As displayed in the graph, USDT and USDC have seen their Tron volume follow a rapid uptrend during the last year, suggesting that users have increasingly been using the network for stablecoin settlements.

The 90-day SMA value of the metric is currently sitting at $24.2 billion. In the same chart, the analyst has also attached the data for the transfer volume of the XRP blockchain and from its graph, it’s apparent that the network’s transaction activity pales in comparison to the stablecoin settlement that occurs on Tron.

More specifically, XRP observes just $2.2 billion in transfers every day, a tenth of the Tron stablecoin transactions. “This reinforces Tron’s role as a core settlement layer for stablecoin liquidity,” noted CryptoVizArt.₿.

Glassnode’s official X handle has also made a post about how stablecoins compare against the major cryptocurrencies in terms of the metric.

As is apparent in the above chart, USDC is currently the most dominant asset in transaction activity out of the major assets with a volume of $124 billion. Bitcoin is second at $81 billion, while USDT is third at $68 billion.

Among the rest, Solana and Ethereum both beat XRP to the fourth and fifth spots with transaction volumes of $9.6 billion and $7.9 billion, respectively. BNB is just behind XRP at $1.6 billion.

The top two stablecoins combined are pulling $192 billion in transaction activity every day, which is almost twice the transfer volume that the top five non-stablecoin cryptocurrencies are witnessing. “Stablecoins have become the primary liquidity rails, while native asset transfers remain comparatively subdued,” said Glassnode.

XRP Price

At the time of writing, XRP is trading around $1.93, down nearly 2% over the last week.

Bitcoin is once again attempting to reclaim the $90,000 level, as bulls cautiously rebuild a recovery narrative after weeks of volatility and heavy selling pressure. While sentiment remains fragile and many investors are still positioned defensively, recent price stabilization has opened the door for a short-term upside scenario. Rather than relying on optimism alone, analysts are increasingly pointing to structural indicators that suggest the balance of risk may be shifting.

According to a report by on-chain analyst Axel Adler, Bitcoin’s current setup shows tactical upside potential when viewed through the combined lens of market regime indicators and derivatives liquidation dynamics.

Adler highlights that Bitcoin’s Regime Score has recently transitioned into the +15 to +30 zone, a range that has historically delivered positive average returns. This zone represents an early recovery phase, where downside momentum has faded but euphoria has not yet returned, often creating favorable conditions for asymmetric upside.

At the same time, derivatives data show a clear dominance of short liquidations, meaning that recent price moves have forced bearish positions to close. This creates mechanical buying pressure, which can amplify upward moves even in the absence of strong spot demand. Together, these signals suggest that Bitcoin’s current attempt to reclaim $90,000 is not purely speculative but supported by an improving internal market structure.

Regime Score and Liquidations Point to Tactical Upside

Adler explains that Bitcoin’s composite Regime Score aggregates multiple market dimensions into a single framework, including taker imbalance, open interest pressure, funding rates, ETF flows, exchange flows, and price trend.

The result is a unified indicator ranging from −100 to +100, designed to capture shifts in market structure rather than short-term noise. Currently, the Regime Score stands at +16.3, placing Bitcoin in the upper part of the neutral zone, defined between +15 and +30.

Backtesting data for 2025 shows that this specific subzone has historically delivered average returns of around +3.8% over a 30-day horizon. This contrasts sharply with the −15 to 0 zone, where expected returns were negative, averaging -1.5% over seven days. Importantly, the indicator has recently rebounded from a bearish extreme, after dropping to −27 just a week ago, signaling a structural recovery rather than a random bounce.

Adler highlights a critical nuance: transitions into the formal bull regime above +30 have historically coincided with local tops, often followed by negative short-term returns. This makes the current +15–30 range more attractive for tactical positioning, while aggressive accumulation above +30 may carry elevated risk.

This view is reinforced by derivatives data. The long/short liquidation dominance oscillator has turned negative at −11%, indicating a surge in forced short closures, while its 30-day average remains positive. With long liquidation dominance at just 44%, short liquidations are clearly prevailing, providing additional mechanical fuel for upside.

Bitcoin Tests Key Support as Volatility Compresses

Bitcoin is currently trading around the $90,000 area after a sharp corrective move from recent highs, and the chart highlights a market at an important inflection point. Following the breakdown from the $105,000–$110,000 range, BTC experienced a swift decline that pushed the price below the short- and medium-term moving averages.

The blue and green moving averages have rolled over, confirming a loss of upside momentum and signaling a shift toward a more defensive market structure.

However, price is now stabilizing just above the psychologically critical $88,000–$90,000 zone, which has acted as a reaction level over recent sessions. This area aligns closely with prior consolidation and represents a short-term support cluster where buyers are attempting to regain control. Notably, selling pressure appears to be moderating, as the most aggressive downside move has already occurred, and recent candles suggest consolidation rather than continuation.

The red long-term moving average remains well below the current price, indicating that Bitcoin is still structurally above its broader trend support. This reduces immediate downside risk, unless the $88,000 region fails decisively. Volume has also tapered off compared to the sell-off peak, suggesting that panic-driven liquidation may be subsiding.

In this context, Bitcoin appears to be transitioning from an impulsive downside into a stabilization phase. A sustained hold above $90,000 would strengthen the case for a relief rally, while a breakdown below support would reopen the door to deeper retracements.

Featured image from ChatGPT, chart from TradingView.com

According to reports, a new round of debate over quantum computers and Bitcoin has pushed technical questions into market talk.

Some investors say the threat is close enough to affect price. Charles Edwards, founder of Capriole, warned that Bitcoin could fall below $50,000 by 2028 if the network is not made quantum-ready.

Developers Urge Caution

Jameson Lopp, a Bitcoin Core developer and co-founder of custody firm Casa, has argued that migration to post-quantum cryptography will not be quick.

Lopp told followers on X that while quantum machines are not an immediate danger, moving the protocol and users’ funds to new signature schemes could “easily take five to 10 years.”

He agreed with Adam Back, CEO of Blockstream, who has also said the threat is not near-term but should be watched.

No, quantum computers won’t break Bitcoin in the near future. We’ll keep observing their evolution.

Yet, making thoughtful changes to the protocol (and an unprecedented migration of funds) could easily take 5 to 10 years.

We should hope for the best, but prepare for the worst.

— Jameson Lopp (@lopp) December 21, 2025

Community Split Over Timing

Reports have disclosed a widening gap in how the community views the timeline. Some venture capitalists and investment firms say quantum risk is imminent and should be priced now.

On the other side, long-time Bitcoin advocates question the urgency. Pierre Rochard argued that quantum-resistant fixes can be paid for by non-profits or VC funding, and he suggested an attack would be so costly it would require government-level support.

Samson Mow, CEO of JAN3, pushed back with a plainspoken line about current machines, saying they “can’t factor the number 21 — not 21 million — 21,” to make a point about how far current quantum hardware still is from breaking Bitcoin’s cryptography. Andreas M. Antonopoulos has also weighed in, noting that upgrades are possible ahead of any real threat.

What Upgrading Bitcoin Means

Changing Bitcoin’s cryptography is not the same as updating ordinary software. According to developers, the distributed nature of the network, the variety of wallet software in use, and the many holders who do not actively manage keys make a broad migration difficult.

BIP 360, a proposal that would add a quantum-ready signature method for BTC, has been pushed by some figures. Charles Edwards has called for node operators to enforce BIP 360 to speed adoption, while others say enforcement and coordination would be tricky and could take years.

Calls For Protocol Change

Market watchers should note the difference between theory and proof. The technical camp says there is time to plan and roll out changes carefully. The investment camp warns that market confidence could wobble if measures are not taken quickly.

Calls for action include funding research, testing signature replacements, and building migration tools that exchanges and wallets can use. The debate has become public because price concerns make the matter of practical interest, not just academic.

Featured image from Unsplash, chart from TradingView

Ethereum is currently trading above the $3,000 level, offering a surface-level sense of stability after weeks of volatility. However, beneath this price resilience, market sentiment remains decisively bearish. Many analysts are openly calling for lower levels in the coming months, citing weakening momentum, macro uncertainty, and persistent selling pressure across risk assets. Extreme fear dominates positioning, with investors showing little conviction that the recent recovery can evolve into a sustained uptrend.

This pessimistic backdrop makes recent institutional-linked activity stand out. Amid widespread caution, data suggests that Bitmine—an entity associated with Fundstrat’s co-founder Tom Lee—has increased its exposure to Ethereum.

Bitmine is a digital asset mining and investment vehicle focused on long-term participation in blockchain infrastructure, combining mining operations with strategic accumulation of major crypto assets. Rather than trading short-term price swings, entities like Bitmine typically operate with a multi-year horizon, emphasizing network fundamentals and asymmetric upside.

The contrast is notable. While retail and short-term participants remain defensive, longer-term capital appears willing to step in during periods of fear. Historically, such divergence between sentiment and positioning has often emerged near transitional phases in the market cycle.

Bitmine Expands Ethereum Exposure Amid Market Fear

On-chain data from Arkham confirms that Bitmine has added another 13,412 ETH to its holdings, an acquisition valued at approximately $40.61 million at current market prices. The purchase comes at a time when Ethereum sentiment remains deeply bearish, reinforcing the contrast between short-term market fear and long-term capital positioning.

Following this latest accumulation, Bitmine’s total Ethereum holdings now stand at roughly 3.769 million ETH, with an estimated market value of around $11.45 billion. This places Bitmine among the largest known Ethereum holders globally, highlighting the scale and conviction behind its strategy.

Such positioning is not consistent with short-term speculation. Instead, it reflects a deliberate approach centered on long-duration exposure to Ethereum’s network value and future role within the digital asset ecosystem.

Bitmine’s accumulation behavior suggests confidence in Ethereum’s long-term fundamentals despite near-term volatility and widespread pessimism. Historically, large-scale purchases during periods of extreme fear have often occurred when prices trade below perceived intrinsic value.

While this activity does not eliminate the risk of further downside in the coming months, it signals that structurally patient capital continues to deploy. The growing divergence between bearish sentiment and aggressive accumulation underscores a market environment where positioning, rather than headlines, may offer clearer insight into longer-term expectations.

Some investors are using current pessimism as an opportunity to build exposure, reinforcing the idea that fear-driven environments can also attract structurally patient buyers.

Ethereum Price Struggles to Rebuild Bullish Structure

Ethereum is currently trading just above the $3,000 level, attempting to stabilize after a prolonged corrective phase. The chart shows that ETH remains below its key medium-term moving averages, with the 50-day and 100-day MAs still acting as dynamic resistance overhead. Each recent attempt to push higher has been met with selling pressure, highlighting the market’s difficulty in reclaiming bullish momentum.

Structurally, the price action since the October peak reflects a clear sequence of lower highs and lower lows, confirming that ETH is still operating within a bearish trend on the daily timeframe. Although the recent bounce from the $2,800–$2,900 zone suggests the presence of demand, volume remains muted compared to earlier expansion phases, indicating a lack of conviction from buyers. This supports the view that the current move is corrective rather than the start of a new impulsive rally.

From a support perspective, the $2,900 area is now critical. A sustained loss of this level would expose ETH to a deeper retracement toward the $2,600–$2,700 region, where prior consolidation occurred. On the upside, bulls would need a decisive daily close above the descending moving averages near $3,300 to invalidate the bearish structure.

Overall, the chart points to consolidation under resistance rather than trend reversal. Until ETH reclaims key moving averages with expanding volume, price action suggests ongoing distribution and elevated risk of further downside.

Featured image from ChatGPT, chart from TradingView.com

Kaspersky has warned that a new infostealer called “Stealka” is being spread through bogus video game mods and cracked software, putting crypto users and gamers at risk.

The malware was identified in November 2025 and is delivered as what looks like harmless game add-ons or utility cracks. Systems running Windows are the main target.

Attackers Hide Malware In Mods

Reports have disclosed that Stealka is disguised as cheats, mods and cracks for popular titles, with fake packages posted to places users normally trust. Files have been seen on GitHub, SourceForge, Softpedia and Google Sites, which helps the downloads look legitimate.

In some cases, the malware was packaged as a Roblox mod or as a cracked copy of Microsoft Visio. According to Kaspersky, the campaign uses convincing websites and may employ automated tools to create professional pages that trick people into clicking download links.

Data And Wallets Targeted

Once run, Stealka searches for browser data, saved passwords and crypto wallet information. Based on reports, it targets more than 115 browser extensions tied to wallets, password managers and two-factor apps.

Extensions for MetaMask, Binance Wallet, Coinbase and other popular wallets are among those at risk. Private keys, seed phrases and wallet file paths can be exposed on an infected machine, and stored browser cards and autofill entries are also collected.

Victims’ accounts can be taken over using the stolen credentials, and that access can then be used to push further malicious links to friends or followers.

How The Threat Spreads And Where It’s Seen

Kaspersky’s telemetry shows initial detections in Russia, with additional cases reported in Turkey, Brazil, Germany and India.

Distribution methods vary. Sometimes a single download bundle carries Stealka; other times it is paired with cryptominer code so infected computers also mine cryptocurrency for the attackers.

Files hosted on trusted developer portals make it harder for users to spot danger, and the malware’s wide reach means standard precautions can still be bypassed if users ignore basic safety steps.

Recommendations For Users

According to cybersecurity advisories, avoid unofficial or pirated software and only download mods from verified, trusted creators. Use a reputable antivirus product and keep it updated.

Password managers are recommended over saving credentials in browsers, and two-factor authentication should be enabled for crypto accounts when available.

Keep Windows and applications patched, and check that a downloaded file’s checksum or digital signature matches the developer’s published value before running installers.

Featured image from Kaspersky, chart from TradingView

XRP has spent the past few weeks on a downtrend after a bullish cycle earlier in the year, and this has left traders divided between caution and anticipation. However, as the year draws to a close, the interest in the altcoin is gradually changing from short-term volatility to what the new year could bring. 

Interestingly, technical insights using the Relative Strength Index suggest that the current price action may be setting the stage for the token to shine in 2026, even if the market is not quite ready to reveal its hand just yet.

RSI Signals Point To A Completed Dip

One of the arguments supporting a bullish outlook comes from the 3-day Relative Strength Index highlighted by Dark Defender. According to the analyst, the RSI has already dropped into a zone that is known to indicate completed price corrections for XRP. This is because similar RSI conditions in 2024 were highlighted by periods before its price action returned decisively to the upside.

The chart accompanying his analysis shows XRP stabilizing near a horizontal support region, and this fits with the RSI flattening near oversold territory. According to the analyst, this type of structure suggests exhaustion on the sell side, even if price action continues to trade sideways in the next couple of days.

Speaking of stabilizing near a support region, XRP is currently trading around the $1.86 to $1.90 price range, which aligns closely with the 1.618 Fibonacci extension highlighted on the chart at approximately $1.8815. This support level aligns with a projection using the Elliott Wave Theory, and this contributes to the notion that the XRP price will rebound to the upside any time soon.

Building The Base For A Surge

In addition to the RSI momentum indicator, XRP’s price structure on the chart analyzed by Dark Defender supports the idea that the cryptocurrency is forming a base. The visual Elliott Wave count on the 3-day timeframe shows that the recent decline fits within a corrective sequence on sub-impulse wave 5. Interestingly, this sub-wave is an extension of a fourth impulse wave that traces its origin as far back as early 2025. 

According to the Elliott Wave theory, this fourth impulse wave is expected to be followed by an impulsive Wave 5 that resolves to the upside. The projected impulse path on the chart shows how a confirmed breakout from this structure could push XRP into a massive rally. The price target in this case is around the 2.618 Fibonacci extension, which is marked at $5.85.

Dark Defender also linked this technical setup to timing, pointing out that the period around Christmas and the New Year could coincide with improving sentiment, and XRP will shine after the holidays. He also pointed to upcoming scarcity as another factor, which might be referring to the projected longer-term implications of Spot XRP ETFs.

Bitcoin might be stumbling into a very seasonal setup, not because Santa is real, but because positioning and one of those composite “regime” dashboards are flashing the kind of “bullish, but not sweaty” signal traders love to cling to in late December.

CryptoQuant analyst Axel Adler Jr. put it bluntly on X on Monday: “BTC is entering a window for a Santa rally: the Regime Score is bullish but not overheated. Short liquidations are reinforcing the asymmetry in favor of buyers.” That’s the headline claim. The longer version is basically: the market is in a zone that has historically had decent forward returns, and the derivatives plumbing is currently doing that annoying-but-useful thing where it mechanically pushes price higher when shorts get forced out.

Will Bitcoin See A ‘Santa Rally’ This Year?

In his Monday Substack post, Adler framed it as a tactical setup rather than some grand, end-of-year prophecy. “The BTC market is in the upper part of the Regime Score neutral zone, which has historically shown positive expected returns,” he wrote. Then he tightened the screw: “The current liquidation structure in the futures market indicates a predominance of short position closures, creating additional mechanical pressure in favor of buyers.”

So what’s this Regime Score thing, exactly? Adler describes it as a composite indicator that “combines taker imbalance, OI pressure, funding, ETF flows, exchange flows, and price trend into a single scale from −100 to +100.” The number matters less than the band it sits in. Right now, he says the score “stands at +16.3, corresponding to the upper part of the neutral zone (+15 to +30).”

And that particular subzone is doing the heavy lifting in his argument. “Backtesting for 2025 shows this subzone historically delivered average returns of +3.8% over 30 days,” Adler wrote, contrasting it with the weaker ranges below. He also pointed out that, “unlike the −15 to 0 subzone where expected returns were negative (−1.5% over 7d),” the +15 to +30 band tended to be a more forgiving place to put on risk.

It’s also worth noting how quickly the tape can flip, because his own charting suggests it already did. Adler says the indicator “has emerged from a recent bearish phase (score dropped to −27 a week ago) and is showing recovery.” That’s the kind of detail traders latch onto: not just where you are, but how fast you got there.

But here’s the funny part — the “most bullish” zone, in his backtest, wasn’t actually bullish for forward returns. He flags that “transition into the formal Bull regime (+30 and above) historically coincided with local tops” and that it “delivered negative average returns of −3.3% over 7 days.” In other words, if you wait for the indicator to scream “bull market,” you might be buying the exact moment everyone else is already leaning the same way.

Which is why Adler ends up with a pretty trader-ish conclusion: the current band might be the sweet spot because it’s optimistic without being euphoric.

“This means the current +15–30 zone may be optimal for tactical positions, while aggressive accumulation upon breaking +30 carries elevated risk,” he wrote.

Then there’s the derivatives side — the part that can turn a calm-looking market into a sudden wick up (or down) just because leverage is sitting in the wrong place. Adler’s liquidation dominance oscillator is currently negative, which he reads as a short liquidation skew. “The oscillator’s current value has dropped into negative territory (−11%), while the 30-day moving average remains positive (+10%). This divergence points to a recent surge in forced short position closures,” he wrote.

He doubles down with a second stat: “Long Liquidation Dominance stands at 44%, below the 50% baseline, confirming the predominance of short liquidations.” Put simply: more shorts are getting forced out than longs are getting wiped, and those forced closes are buys.

And his takeaway is basically: this is tactical fuel. “The predominance of short liquidations creates tactical fuel for upside,” Adler wrote, adding that the setup “reinforces the positive signal from Regime Score: the market has not only entered a zone with historically positive expected returns but is also receiving additional support from derivatives structure.”

Still, this is Bitcoin, and these setups don’t last forever. Adler even lays out what would invalidate it, in pretty plain language. “A return of Regime Score below zero accompanied by a reversal of the liquidation oscillator into positive territory (rising long liquidations) would signal exhaustion of the current impulse,” he wrote. Translation: if longs start being the ones getting punished, that “asymmetry” flips.

For now, he’s calling it a “bullish neutrality” moment. Not full-blown melt-up territory, not the kind of reading that screams “local top” either. Just a window where, if the market wants to drift higher into year-end, the positioning doesn’t look like it’s going to fight it.

At press time, Bitcoin traded at $89,864.