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Cardano founder Charles Hoskinson has hailed the launch of Midnight and its native token NIGHT as the strongest in the network’s history, arguing that it proves Cardano can now host and distribute multi-billion-dollar assets at scale.

NIGHT Token Plunges After Midnight Launch

In his December 10 livestream “Midnight Launch AAR,” Hoskinson opened with the volatile price action that dominated social media. NIGHT initially spiked to what he called an “insane” level: “It launched at almost a $150, which is just insane […] it just went way, way, way up.” Once trading opened on Binance Alpha, the move reversed violently. “As soon as it got on Binance Alpha – oh god, why, why, oh why – all the way down to two cents. They dumped on us. That’s what they do. That’s what the DGENs over in that market do.”

He framed this as typical exchange-distribution dynamics, not a structural failure: recipients with no real connection to the ecosystem “regardless of the price, they just dump the token. They probably didn’t even know what NIGHT was.”

According to Hoskinson, such launches usually endure 48–72 hours of “high volatility” before a stable range emerges. He reiterated that he had expected NIGHT to trade in a “5 cents to 15 cents” band and said it was sitting around 6–6.5 cents with a fully diluted valuation of roughly $1.5 billion and around $150 million in trading volume. For a brand-new Cardano-native asset in current conditions, he called that “a really solid launch.”

What made the debut historically significant in his view was the combination of tier-one listings and on-chain metrics. “This is the first time in history that Cardano right out the gate can launch a $1.5 billion product, be listed on Binance Alpha and Kraken and OKX and everybody else at the start,” he said, stressing that much of the required infrastructure “wasn’t there” and had to be built during the run-up.

Cardano’s Best Launch Ever

On Cardano itself, he highlighted that Midnight immediately became the dominant token by trading activity. Citing TapTools, he said NIGHT was “sitting [at] an overwhelming level of volume, and it’s actually greater than the volume of every other Cardano native token combined,” adding that its FDV is “worth more than all the other CNTs combined as well.”

For the first time, he argued, DEXs such as Minswap and SundaeSwap carried a “meaningful percentage of trading volume […] with respect to large exchanges,” helping “prime the pump on Cardano DEXes” and pull more stablecoins into the ecosystem.

Distribution was another focal point. Hoskinson praised the Glacier Drop mechanism and its gradual “thawing,” saying it creates “a nice steady emission and a nice steady flow for the system as opposed to a jagged thing where the insiders all dump.”

He contrasted Midnight’s retail-heavy, exchange-plus-airdrop distribution with VC-led launches elsewhere: “This is the first time since Bitcoin that a launch has been done the way that Midnight did it. It was complete retail, completely fair, and none of those damn VCs got their grubby hands on it. Instead, it went right to you, the people.”

He tied that to a broader “return to first principles,” arguing that 2026 should reward projects with fair launches and fixed-supply, deflationary monetary policies: “There’s a fixed supply NIGHT, by the way […] it’s going to be a good year for everybody who’s betting on you, the consumer, and not betting on the banks.”

Looking forward, Hoskinson positioned Midnight as Cardano’s first “partner chain” and the “tip of the spear” for a hybrid DApp model spanning multiple ecosystems: “You talk about Midnight Cardano, Midnight Ethereum, Midnight Solana, Midnight Avalanche, Midnight Binance.” He said that after the first four phases of the roadmap, “every two months a new ecosystem gets activated,” with recurring feature drops “every six to eight weeks.”

He also cast Midnight as a competitive wedge for Cardano DApps. With tier-one integrations and privacy-preserving capabilities, he argued, “we have privacy before [Ethereum and Solana] do,” giving Cardano–Midnight hybrid apps a differentiator that can help grow TVL, MAU and transaction volume.

Hoskinson insisted that the launch pressure-tested and validated the base protocol: “Cardano network handled it. The exchanges handled it. And Midnight is here to stay.” The ambition from here is explicit. “We’re going to march Midnight up as an ecosystem to that $10 billion mark. That’s the goal. Let’s keep going. Let’s get her done,” he said, adding that “these are the best numbers we’ve ever seen in the history of Cardano” – and, in his view, only the beginning.

At press time, ADA traded at $0.4325.

Data shows Bitcoin treasury companies have seen an explosive growth trajectory since 2023, gaining relevance as an important pillar of the market.

Public & Private Companies Now Hold More Than A Million Bitcoin

In a new post on X, on-chain analytics firm Glassnode has talked about the trend in the Bitcoin treasuries held by public and private companies. Below is the chart shared by Glassnode that shows changes in both the holdings of the various companies as well as their combined balance.

As is visible in the graph, Bitcoin treasuries held by companies saw slow, but steady growth during 2023 and most of 2024, but in late 2024, the growth became much more rapid.

This sharp trajectory continued into 2025 and so far, with the year’s end approaching, the uptrend hasn’t faded. This would suggest that corporates have been accumulating BTC at a significant pace for a year now.

In January 2023, the size of the Bitcoin holdings that private and public firms held stood at 197,000 BTC. Today, that figure has grown to 1.08 million BTC, implying a massive jump of about 448%.

Today, there are about 19.96 million tokens in circulation, so more than 5.4% of the cryptocurrency’s supply is sitting in the treasuries of public and private companies. “Corporate balance sheets are becoming an increasingly significant pillar of demand for BTC,” noted the analytics firm.

A major force behind the increase in Bitcoin corporate holdings is naturally Strategy (formerly MicroStrategy). The Michael Saylor-led firm has been a regular presence in the market for some time now, participating in buying almost every week and making no sales since December 2022.

Strategy currently owns about 660,624 BTC, which means that the treasury company alone accounts for over 61% of all BTC holdings attached to public and private firms.

While Strategy has been a big factor behind the surge in corporate holdings, it hasn’t been the only one. 2025 has seen the rise of treasuries like Metaplanet, which have also contributed to growth in BTC treasuries.

The year has also witnessed a treasury movement related to altcoins, with both Ethereum and Solana seeing a significant amount of accumulation. ETH treasuries went through some sharp growth in mid-2025, but during the recent phase of price decline, buying has slowed down.

That said, it hasn’t hit a complete pause, as institutional DeFi solutions provider Sentora has pointed out in an X post that Ethereum treasuries added a significant amount during November.

As displayed in the above chart, Ethereum treasuries added 309,000 ETH during November, and so far in December, they have accumulated another 100,000 ETH.

BTC Price

Bitcoin surged to $94,500 on Tuesday, but the cryptocurrency has since faced a drawdown as it’s now back at $92,200.

South Korea’s government has reportedly missed the deadline to submit its highly anticipated stablecoin legislation, risking a delay of the second phase of the country’s regulatory efforts to align with global standards and foster innovation.

FSC Misses Key Deadline Amid BOK Disagreement

On Wednesday, local media outlets affirmed that the South Korean government failed to submit the long-awaited bill for the Second Phase of the Virtual Asset User Protection Act, which is expected to address the issuance and distribution of won-denominated stablecoins.

Chosun Biz reported that the Financial Services Commission (FSC) did not meet the National Assembly’s submission deadline for the government’s legislation. On December 1, authorities set December 10 as the deadline to submit the bill to the National Policy Committee.

According to political circles cited by the report, the government bill was delayed because the FSC and the Bank of Korea (BOK) failed to resolve their differences over the issuance of won-pegged stablecoins.

As reported by Bitcoinist, local outlets stated in late November that South Korea’s stablecoin legislation risked being delayed due to a disagreement between financial authorities and the central bank over the extent of banks’ role.

The BOK and FSC seemingly agreed that the financial institutions must be involved in the issuance of won-pegged tokens. However, the central bank has been pushing for a consortium of banks owning at least 51% of any stablecoin issuer seeking regulatory approval in the country.

Meanwhile, the FSC was willing to involve diverse players in the process, expressing concern that giving a majority stake to banks could reduce participation from tech firms and limit the market’s innovation.

The November report noted that the regulatory standoff appeared to leave the market in limbo, with some tech companies actively preparing to get approval and others taking a cautious approach due to the unclear regulatory direction.

Stablecoin Legislation Risks ‘Prolonged Deliberation Process’

Chosun Biz noted that the Democratic Party of Korea (DPK) initially intended to advance the second phase of its virtual asset bill by reviewing the government bill. Nonetheless, if the government draft continues to be delayed, the bills previously introduced by lawmakers could be reviewed first.

Since June, multiple bills related to the issuance and distribution of won-pegged stablecoins have been introduced in the National Assembly. Min Byung-deok, a member of the National Assembly’s Government Committee, introduced the “Digital Assets Basic Act, proposing enabling the issuance of won-pegged stablecoins and establishing a Digital Asset Committee under the direct authority of the president.

In July, South Korea’s ruling and opposition parties proposed rival bills to establish the highly anticipated regulatory framework. Notably, Ahn Do-gil, a member of the Planning and Finance Committee from the Democratic Party, introduced the “Act on the Issuance and Distribution of Value-Stable Digital Assets.”

Similarly, Kim Eun-hye, a member of the Land, Infrastructure, and Transport Committee from the People Power Party (PPP), proposed the “Act on Payment Innovation Using Value-Fixed Digital Assets.”

The two bills shared similarities, like the assignment of stablecoin oversight to the FSC. However, they differed over the issue of interest payments, with the PPP’s bill allowing interest payments and the DPK’s bill completely banning them to prevent market disruption.

It’s worth noting that the FSC chairman, Lee Eun-won, recently affirmed that the regulatory agency will “fundamentally prohibit the payment of interest on stablecoins as a principle,” adopting the same principle as the US framework, the GENIUS Act, which prohibits interest payments on the holding or use of payment-purpose stablecoins.

Following the Wednesday delay, a member of the National Policy Committee from the Democratic Party affirmed that, “for now, it looks difficult to narrow the differences between the FSC and the BOK.”

“If the government bill continues not to be submitted, the deliberation process could be prolonged, so we should at least review the bills introduced by lawmakers first,” they concluded.

The American Federation of Teachers (AFT) has formally added its voice to the growing opposition against the proposed crypto market structure bill, urging the Senate Banking Committee to reconsider the legislation. 

In a letter obtained by CNBC, AFT President Randi Weingarten described the bill as “as irresponsible as it is reckless,” citing the alleged dangers it poses to working families’ pensions and the overall economy.

AFT Calls Out Loopholes In Crypto Legislation

In her correspondence with Senate Banking Committee Chairman Tim Scott and Ranking Member Elizabeth Warren, who is known for her consistent skepticism toward digital assets, Weingarten expressed significant concern about the implications of the proposed legislation. 

She stated that the current draft gives the AFT “deep concern” over the risks posed to retirement plans, including the union’s own pensions. Weingarten argued that advancing the crypto legislation could open the door to “widespread fraud” and “unethical practices” within retirement schemes.

Weingarten alleged that the bill “misleadingly” portrays cryptocurrencies as stable and mainstream, despite their volatility. She argued that rather than providing necessary safeguards. “If passed, it will undercut the safety of many assets and cause problems across retirement investments,” she noted.

Among the specific concerns raised by the AFT was a provision allowing non-crypto companies to issue their stock on the blockchain, thus evading existing regulatory frameworks for securities. 

Weingarten warned that this loophole and the corresponding erosion of traditional securities laws could have “disastrous outcomes.” She noted that pensions and 401(k) plans may end up invested in unsafe assets, even when they are nominally traditional securities. 

Additionally, she criticized the legislation for inadequately addressing the fraud and illegal activities that Weingarten believes remain prevalent in crypto markets, labeling it “irresponsible” and “reckless.”

Delays And Heightened Concerns

In the letter, Weingarten also stressed that if the bill were to become law, it could potentially set the stage for the next financial crisis. The AFT’s stance aligns with concerns previously expressed by the AFL-CIO, the nation’s largest labor union, which also opposed a draft of the crypto bill in October.

In line with Weingarten’s opposition, Democratic senators, including Warren, have raised concerns regarding the balance of regulatory oversight between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). 

Massachusetts Secretary of State William Galvin reiterated these concerns in a letter, highlighting that the proposed legislation could exclude significant portions of the financial industry from state oversight, creating risks for millions of savers.

Progress on the Senate’s version of the crypto market structure bill has faced delays, partly attributed to the recent lengthiest government shutdown in US history. 

Senator Lummis recently provided insight into potential timelines, indicating that her goal is to share a new draft by the end of the week. She plans to allow both the crypto industry and lawmakers from both parties to review the draft before moving forward with markup next week.

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

Strive, the bitcoin-focused issuer backed by Vivek Ramaswamy, launched an at-the-market plan to sell up to $500 million of its Variable Rate Series A Perpetual Preferred Stock.

Reports have disclosed the offering was filed on December 9, 2025 and that net proceeds may be used for general corporate purposes, including buying Bitcoin and Bitcoin-related products.

Strive Launches $500M Program

The public asset manager signed a sales agreement that names Cantor Fitzgerald, Barclays and Clear Street as placement agents for the program.

Based on reports, the ATM structure lets Strive sell SATA shares into the open market over time rather than in a single block. The prospectus supplement tied to the program makes clear how the offering fits into Strive’s capital toolbox.

Strive’s Announcement In Context

Strive has been steadily adding Bitcoin to its balance sheet this year. Reports show the firm bought about 1,567 BTC between October 28 and November 9 at an average price near $103,315 per coin, bringing total holdings to roughly 7,525 BTC as of early November.

These figures place Strive among the larger public corporate holders of Bitcoin and help explain why it is tapping preferred equity rather than other funding routes.

Bitcoin Holdings And Recent Buys

Based on reports, Strive’s stated goal is to increase Bitcoin per share over time. The company has framed preferred equity products like SATA as a way to fund future crypto buys while offering investors a different payout structure than common stock.

That mix — treasury Bitcoin plus income assets — is what Strive has pitched to shareholders in recent filings and investor updates.

Semler Deal And Earlier Purchase Plan

Reports have also tied Strive’s acquisition strategy to an earlier announcement to buy hundreds more coins as part of a corporate deal.

Reuters reported that in September Strive said it would buy 5,816 BTC for $675 million as part of its planned Semler acquisition, a move that would push combined holdings above 10,900 BTC if completed.

That disclosure underscores how the ATM program could fit into a broader plan to grow Bitcoin reserves.

Market Response

Stocks tied to Strive moved on the news. Some market pages recorded modest upticks in SATA and in Strive’s Class A common shares after the filing went public.

Investors and analysts will watch execution closely: an ATM sale can be gradual, and timing matters when buying a volatile asset like Bitcoin.

The preferred-stock route also has payout and conversion features that investors will weigh against dilution and cost of capital.

Featured image from Unsplash, chart from TradingView

Newly-appointed Binance Co-CEO Yi He has seen her WeChat account hacked, with the attacker using it to promote a litte-known memecoin.

Hacker Shilled Memecoin Mubarakah Using Binance Co-CEO’s WeChat

Binance‘s new co-CEO Yi He fell prey to a social media hack Tuesday night, as founder Changpeng “CZ” Zhao has shared in an X post. “Someone hacked @heyibinance’s WeChat account,” said CZ. “Do not buy meme coins from the hackers posts.”

The entity who gained control of Yi He’s account used it to promote a small memecoin called Mubarakah (MUBARA). Like is usually the pattern with hacks like these, investors bought into the token, believing the endorsement to be coming from a well-known industry figure. This sent the memecoin soaring.

On-chain sleuth Lookonchain has revealed how the hacker timed their moves. First, the attacker made two wallets hours in advance, spending 19,479 USDT to buy 21.16 million in Mubarakah.

“After the pump, the hacker has already sold 11.95M $Mubarakah for 43,520 $USDT and still holds 9.21M $Mubarakah($31K), for a total profit of $55K,” explained Lookonchain. The pattern is a clear example of a classic pump-and-dump scheme.

Yi He posted on X that the phone number tied to her WeChat account was taken over, locking her out of the account. A few hours later, she shared that she was able to regain control of the account.

Zhao took the moment to throw a jab at legacy internet systems, saying, “Web 2 social media security is not that strong.” Web 2.0 refers to the traditional online ecosystems most apps still run on, as opposed to the newer, blockchain-powered Web 3.0.

The hack has come just a week after Yi He, who is also a co-founder, was appointed as Binance co-CEO. Previously, she served as chief customer service officer for the cryptocurrency exchange.

In some other news, Binance has become the first digital asset exchange in the world to receive a license from UAE’s ADGM this week, as announced in a press release.

ADGM, standing for Abu Dhabi Global Market, is the international financial center of UAE’s capital, Abu Dhabi. ADGM’s Financial Services Regulatory Authority (FSRA) has given the exchange full authorization to operate its platform in the region.

Due to ADGM’s regulatory requirements, Binance will run its operations through three distinct entities, with each responsible for a separate function: an exchange, a clearing house, and a broker-dealer.

Binance co-CEO Richard Teng noted:

ADGM is one of the most respected financial regulators globally, and holding an FSRA license under their gold standard framework shows that Binance meets the highest international standards for compliance, governance, risk management, and consumer protection.

Bitcoin Price

At the time of writing, Bitcoin is trading around $91,900, down 1% over the last week.

Bitcoin is holding firm above the $92,000 level after rebounding from a brief dip to $90,000, but market sentiment remains decisively bearish. Despite the crypto market stabilization, confidence is fragile as traders brace for heightened volatility ahead of the December FOMC meeting. Bulls are attempting to regain momentum, yet the broader market continues to position defensively.

According to a detailed report by XWIN Research Japan, crypto hedge funds and large institutional players are shifting into clear risk-off mode. On-chain data reveals a notable divergence: BTC balances on centralized exchanges are falling, while USDT and USDC reserves are steadily climbing.

This behavior indicates that professional investors are reducing direct crypto market exposure and instead building up stablecoin liquidity on exchanges—capital that can be deployed rapidly depending on the FOMC outcome.

This rise in Stablecoin Exchange Reserves is a textbook sign of event-driven hedging. Institutions are preparing for volatility rather than betting outright on a directional move. Historically, such positioning emerges when markets expect meaningful policy decisions that could reshape short-term liquidity conditions.

Funding Rates Reveal the Market’s True Positioning

According to the XWIN Research Japan report, Funding Rates make the current crypto market structure even clearer. During the August–October 2025 period, funding surged as short-term traders aggressively loaded into long positions ahead of the FOMC decision, only to collapse sharply once the announcement was released.

Bitcoin’s price followed the same pattern: a strong pre-event rally driven by expectations, followed by a swift reversal as leveraged traders were forced to unwind. This fits the historical sequence of rate-cut expectations followed by a temporary rally, and a post-announcement deleveraging and decline.

The report highlights that today’s crypto market is showing similar behaviors. CME futures open interest has stalled, signaling that institutional traders are avoiding high-conviction directional bets. Whale spot holdings remain flat, suggesting that major players are positioned defensively rather than accumulating. At the same time, stablecoin inflows are accelerating, a hallmark of event-driven hedging as capital waits on the sidelines for clarity.

As XWIN Research Japan notes, whether the Fed cuts rates or not, one pattern remains consistent: volatility expands sharply during FOMC week. The danger lies in chasing the pre-meeting bounce without respecting the historical tendency for post-announcement shakeouts. In this environment, risk management—not prediction—is the winning strategy.

Total Crypto Market Cap Holds Key Support But Lacks Momentum

The Total Crypto Market Cap chart shows the market stabilizing around the $3.1 trillion level after a sharp multi-week decline. This area sits just above the 100-week moving average, a historically important dynamic support zone that often defines whether the broader cycle maintains bullish structure or shifts into deeper corrective territory. For now, buyers have stepped in to defend this region, preventing a breakdown that could have opened the door to a retest of the $2.7T–$2.8T area.

Despite the bounce, the structure remains fragile. The market is still trading below the 50-week moving average, which has now begun to bend downward—a sign that momentum has weakened across major assets like Bitcoin, Ethereum, and key altcoins. Volume has not shown a strong surge on the rebound either, suggesting that institutional conviction remains cautious ahead of the FOMC meeting and macro uncertainty.

A decisive reclaim of the $3.3T–$3.4T zone would shift momentum back in favor of bulls, opening room for a broader recovery. However, failure to break above this cluster of resistance could reinforce the idea that the recent bounce is only corrective. For now, the total market cap hovers at a crossroads, with macro events likely to determine the next major move.

Featured image from ChatGPT, chart from TradingView.com

Ethereum (ETH) is under a pivotal week as traders weigh a mix of macroeconomic expectations, institutional developments, and strengthening technical signals.

Related Reading: Midnight Goes Live As Cardano Founder Targets A $10 Billion Ecosystem

With the Federal Reserve set to deliver its next rate decision, market participants are watching how Ethereum’s recent momentum interacts with a broader risk-on environment.

The second largest cap cryptocurrency has already staged a notable rebound, breaking key resistance levels and drawing renewed interest from both retail and institutional investors.

Fed Expectations Drive Ethereum Position Repricing

Ethereum surged past $3,300 and briefly approached $3,400 after recording a 6% jump over the past 24 hours.

The rally comes as traders price in a high probability, close to 90%, that the Federal Reserve will announce a 25-basis-point rate cut. Lower interest rates tend to improve liquidity conditions, a factor that has historically supported digital assets.

Bitcoin’s recovery above $94,000 added further confidence to the market, though Ethereum outperformed on a relative basis. The ETH/BTC ratio reached its strongest point since late October, indicating a shift of capital from Bitcoin to Ethereum.

Spot Ethereum ETFs also saw $177.7 million in inflows on December 9, surpassing Bitcoin’s inflows on the same day.

Institutional Moves Add to Bullish Sentiment

One major catalyst behind this shift has been BlackRock’s filing for the iShares Ethereum Staking Trust ETF. The fund would offer exposure not only to ETH’s price but also to staking rewards, expanding access to yield-bearing strategies.

Analysts note that such products could increase liquidity inflows into Ethereum, especially as institutional portfolios diversify beyond Bitcoin. This filing arrives at a time when the amount of ETH held on centralized exchanges has fallen to its lowest level since 2015, roughly 8.7% of the total supply.

Large buyers, including Bitmine Immersion, have accumulated billions of dollars’ worth of ETH in recent months. Combined, these developments indicate a tightening of supply conditions.

Technical Breakouts Reinforce the Trend

Chart analysts highlight that Ethereum has broken above a downward trendline that previously capped rallies for nearly two months.

Momentum indicators, including MACD and RSI, show increasing buyer strength despite approaching overbought territory. Ethereum’s break above the $3,300 zone has shifted focus toward the next resistance level at $3,500, with wave-pattern analysis suggesting potential upside toward $3,600.

Related Reading: Bitwise Rolls Out New ETF For Broad Crypto Exposure, Including BTC, XRP, And ADA

Analysts such as Captain Faibik argue that a confirmed breakout could support a rally of up to 30%, targeting the $4,200–$4,300 region if bullish conditions persist. However, the Fed’s upcoming decision remains a key variable in determining whether momentum continues or cools.

Cover image from ChatGPT, ETHUSD chart from Tradingview

Following its launch in 2023, Shibarium, a Layer-2 blockchain network for the Shiba Inu ecosystem, was widely seen as a major catalyst that could propel SHIB to new levels and potentially lift its price. However, over the past few months, activity and adoption on Shibarium have remained disappointingly quiet. Now, with the potential advancement and growing interest in the new ShibOS platform, momentum for a comeback could be building. Adding to this possible shift, SHIB whales have noticeably returned, with on-chain activity beginning to climb. 

Shibarium Revival Could Take Shape With The Adoption Of ShibOS

For most of the year, Shibarium has struggled to gain meaningful traction, unable to revive and return to the level of activity investors once expected. As the number of active users decreased, developers were slow to build on it, and the price of SHIB saw little to no reaction despite its strong community backing and Shibarium’s promise of greater utility and faster transactions. 

Although conditions look rather bleak, the narrative could shift as the new ShibOS platform grows and is increasingly adopted. ShibOS is a new Operating System designed to serve as the backbone of the Shiba Inu ecosystem. Rather than positioning SHIB as a simple meme-driven asset, ShibOS aims to create a functional environment where applications, utility, and identity features can thrive. 

The operating system provides a framework that connects traditional businesses and Web3 developers, enabling seamless integration of blockchain features. The concept behind ShibOS places the Shiba Inu community at the center of a broader technological transformation. It introduces a structure that supports Decentralized Applications (dApps) and self-governed digital identities while offering a gateway for Web2 brands interested in experimenting with blockchain technology. 

If developers and businesses begin adopting ShibOS and integrating it into their products, Shibarium could naturally benefit from the surge in activity. More applications would mean more transactions, increased users, and a healthier on-chain economy. This type of organic growth could, in turn, drive the demand for SHIB, potentially influencing its price. 

Shiba Inu Whale Activity Hits Six-Month High

Shiba Inu is also showing signs of renewed activity in terms of on-chain transactions. According to fresh data and a chart shared by SanSights on Santiment, SHIB whale activity has surged to its highest level since early June 2025. Over the last day or so, multiple accounts have reportedly made 406 transactions, each moving more than $100,000 in SHIB. 

At the same time, crypto exchanges have seen a net increase of 1.06 trillion SHIB, valued at roughly $15 million to $20 million—all deposited within 24 hours. This sudden increase in supply comes as prices surge unexpectedly this week, highlighting a rare convergence of bullish factors. 

Typically, when whale activity, large deposits, and price movements happen at the same time, it can signal upcoming big changes. It could either be that whales are accumulating for a stronger price rally or preparing to sell into the current momentum. 

Spot XRP ETFs first debuted in the United States back in 2025, and since then, it has been a story of success. The very first, the XRPC by Canary Capital, opened the floodgates, and since then, multiple XRP ETFs have been approved by the US Securities and Exchange Commission (SEC), all to great success. As a result, Ripple CEO Brad Garlinghouse has taken time out to celebrate these approvals and the immense success that the ETFs have enjoyed since launch.

Ripple CEO Celebrates XRP ETFs’ Success

Earlier this week, it was reported that the XRP ETFs currently trading in the market have crossed $1 billion in Assets Under Management (AUM). While this is not out of the ordinary, with others such as Bitcoin and Ethereum Spot ETFs sitting at billions of dollars in AUM, the difference that XRP made is how fast it reached this target.

Garlinghouse took to the X (formerly Twitter) platform to share that XRP was the fastest cryptocurrency ETF to hit the $1 billion milestone. The anticipation and rapid buy-in from institutional investors saw inflows ramp up quickly, and in less than four weeks, crossing the $1 billion mark. Furthermore, this $1 billion milestone was in the United States alone, suggesting much higher figures from other regions.

This milestone prompted the crypto founder to elaborate on why this is, giving a number of reasons. The first is the fact that the market looks ready for more crypto-related products. The speed with which XRP ETFs crossed this milestone is evidence of rising demand, and with over 40 crypto products launched this year, Garlinghouse explains that this shows there has been “pent-up demand.”

In addition to the demand, there is also the rising demand for there to be more long-lasting investment options in the crypto market. The advent of ‘pump-and-dumps’ has done significant damage to crypto’s reputation. However, these “off-chain crypto holders”, who buy into these crypto products, are moving more toward “longevity, stability, and community.”

Quickly Become An Investor Favorite

Following the launch of the XRP ETFs, institutional interest has quickly blown up. According to the CoinShares Digital Asset Fund Flows Weekly Report, institutional investments in the altcoin managed to surpass that of Ethereum over the last week, putting it behind only Bitcoin.

As the report shows, net flows for XRP came out to 244.7 million, compared to only $39.1 million for Ethereum. This has brought up its AUM to $3.112 billion as of the latest report, showing a rapid increase in investment. Year-to-date inflows have also risen drastically, up to $3.1 billion from the $608 million recorded back in 2024.

Currently, there are a total of nine XRP ETFs trading in the open market. Additionally, there are still nine pending applications that are expected to be approved.

Cardano founder Charles Hoskinson has declared Midnight officially launched, describing it as the “first fourth generation cryptocurrency” and claiming it has already become “a billion dollar ecosystem heading to a $10 billion ecosystem.”

In a December 9 livestream from Colorado, recorded after he was forced to cancel an appearance at Abu Dhabi Finance Week due to severe food poisoning and a jet malfunction, Hoskinson framed the launch as both a technical milestone and an ideological statement about how cryptocurrencies should be built and distributed.

Cardano Founder Touts Midnight’s Fair Launch

Despite saying he had “not eaten in two days” and was “a little faded,” the Cardano founder focused on the scale and duration of the effort behind Midnight. “We worked on it for six years,” he said, noting “many false starts” and several technology changes before the team converged on “a roadmap and a technology stack that we feel is going to be the tech stack of the future.” Midnight’s rollout, he stressed, is structured in four phases, with the project now “in the very first phase” of that plan.

The next stage, according to the Cardan founder, will significantly expand Midnight’s capabilities. Over the coming months, the team intends to bring up a federated mainnet and an incentivized testnet, then activate “hybrid DApps with each ecosystem.”

He said “the next nine months is going to be a lot of fun” but also “a lot of work for all of us,” pointing to features such as “true hybrid applications, true multi-resource consensus, [and] true post-quantum folding schemes” that aim to “advance the state-of-the-art of all of the zero knowledge stacks.” The overarching goal, he argued, is “creating a natural easy way for people [to] get their privacy back.”

Privacy and chain-agnostic interoperability are at the core of how Hoskinson positioned Midnight. He said users are “starting to realize and starting to wake up that their privacy is not a guarantee and it’s not a given,” and criticized existing systems as “designed from the ground up to take your privacy from you.”

Midnight, by contrast, is framed as infrastructure that can be used by “every single blockchain in the space.” “What makes Midnight so special is the fact that Midnight is for everyone,” he said. “It has equal application to Solana users and Avalanche users and Ethereum users and Binance users and Cardano users and Bitcoin users and everyone else in between.”

The Cardano repeatedly emphasized distribution and launch mechanics as a deliberate rejection of the venture-driven model that dominates much of the industry. He highlighted that Midnight was brought to market “in a completely decentralized way” with “no ICO, no insiders, no VC participation.”

The outcome, in his view, is that “every single user enjoys the fact that it had a fair launch and a fair distribution and every single person was on equal footing through the Glacier Drop, the Scavenger Hunt, and now the exchange distributions.”

On that basis, he argued that “it’s still possible in 2025 to launch a cryptocurrency the way Satoshi did it” and “still possible to build something with vision and values where we can do better and not hand the world over to centralized actors, the finance of old.”

Hoskinson Warns Of Regulatory Overreach

He also used the Midnight launch to issue a broader warning about regulation and the direction of the industry if privacy-preserving infrastructure is not defended. “Right now the laws are being written. They’re written the wrong way,” he said. “If the rulemaking is done the wrong way, every single thing that makes cryptocurrency special will be taken from us.”

Hoskinson rejected a future where “only custodial wallets” exist, “every single person has to be KYC and AML,” and “only five or 10 protocols are pre-selected” and “armchair controlled by a small cabal of international bankers.” Instead, he said, “I want to live in a world where the protocols preserve and protect your rights as a human, your agency as a human, your economic identity as a human.”

Hoskinson described Midnight as “probably the fastest growing and most vocal project we’ve ever built,” pointing to “hundreds of ambassadors” coming online and a rapidly filling Discord, which he framed as a gathering point for those who believe in “freedom of association, commerce, and expression.”

He ended with a direct call to action: “I want you to join the Discord. I want you to become an ambassador and tell each and every person that we can do better. And I want you to build on Midnight.” Whatever network developers come from, he said, “just build something and show the world that you can do interesting and cool things,” adding that for him and his team, “we’re in it for life.”

At press time, Cardano traded at $0.4621.

On Tuesday, Bitwise announced the launch of the Bitwise 10 Crypto Index ETF (BITW) on the New York Stock Exchange (NYSE), allowing investors to gain exposure to a diverse range of cryptocurrencies in a single investment vehicle. 

This ETF includes ten digital assets: Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), Chainlink (LINK), Litecoin (LTC), Cardano (ADA), Avalanche (AVAX), Sui (SUI), and Polkadot (DOT). 

Notably, BITW marks the first exchange-traded fund by a major crypto asset manager to incorporate Avalanche, Sui, and Polkadot into its portfolio, as highlighted by Bitwise CEO and co-founder Hunter Horsley in a recent interview with CNBC.

Bitwise ETF Launches With Over $1 Billion In Assets

“This development significantly broadens the audience that can access these various assets, particularly for those digital currencies that lack a spot ETF,” Horsley explained on Monday. 

The fund is tailored for both financial advisors and smaller investors looking to utilize funds from individual retirement accounts (IRAs) or other retirement savings, where ETFs serve as the main investment option.

BITW represents a conversion from a prior index fund that encompassed the same digital currencies and has launched with over $1 billion in assets. 

The approval of Bitcoin and Ethereum ETFs back in January 2024 has led asset managers to compete for the chance to introduce ETFs that track a broader range of digital assets, including altcoins like Sui and Aptos, as well as memecoins such as TRUMP and Dogecoin (DOGE). 

However, these investment vehicles experienced major withdrawals in October and November, particularly for Bitcoin- and Ethereum-focused ETFs. These withdrawals reached record levels amid a broader sense of caution due to falling crypto prices. 

“The timing is ideal for many investors who have been paying attention since the Bitcoin ETF launch and are now looking for a more comprehensive way to allocate to digital assets without the need to select individual assets,” Horsley noted.

BITW Allocates 90% To Major Cryptos 

It’s important to emphasize that while BITW offers exposure to smaller cryptocurrencies in terms of market capitalization, its allocation to these assets is proportionately limited. 

Specifically, the ETF dedicates 90% of its holdings to Bitcoin, Ethereum, Solana, and XRP, with the remaining 10% allocated to the other tokens in the fund. 

The fund will undergo monthly rebalancing, a more frequent schedule compared to many exchange-traded funds in the market that typically rebalance quarterly or semi-annually. 

Bitwise further expressed its commitment to expanding access to cryptocurrency opportunities, stating in a social media post: 

At Bitwise, we’ve been working tirelessly since 2017 to expand access to the opportunities in crypto. Countless investors have requested an index ETP, and we’re thrilled that NOW, with BITW’s listing on NYSE, you have that option. We believe 2025 is a breakout year for this space, and we are more optimistic than ever about the opportunities ahead.

As of this writing, Ethereum is the best-performing asset in Bitwise’s new fund. It is trading at $3,323 and has recorded gains of up to 6% in the past 24 hours as it approaches key resistance levels. 

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

Swapper Finance has launched Direct Deposits in collaboration with Chainlink and Mastercard, aiming to bring global payments directly into the on-chain economy to more than 3.5 billion users worldwide.

Swapper Finance Launches Direct Deposits With Chainlink, Mastercard

On Tuesday, Swapper Finance, a next-generation payments infrastructure layer that connects global users to on-chain applications, announced the launch of Direct Deposits in collaboration with Chainlink, Mastercard, and multiple key partners.

Direct Deposits, which are live now, are set to bring “the global payments world directly into the on-chain economy through a unified, secure, and compliant flow,” powered by Chainlink Runtime Environment (CRE) and Mastercard’s recognized global network.

According to the announcement, users will be able to deposit into Decentralized Finance (DeFi) protocols using payment cards, crypto transfers, or Web3 wallets inside a single, end-to-end on-chain workflow for the first time.

Swapper’s Direct Deposits aim to unlock instant access to DeFi for billions of people worldwide by eliminating traditional bottlenecks, exchanges, and multi-step onboarding. This has historically required stitching together isolated systems, including Know Your Client (KYC) requirements, compliance, card payments, fiat conversion, settlement, and liquidity routing, which has created friction, high drop-off rates, and inconsistent security across the process.

Direct Deposits are set to replace this old-fashioned flow through one “unified, verifiable, on-chain orchestration layer,” with every component of the process executed inside a secure on-chain environment.

Roman Tirone, Senior Manager, Chainlink Build at Chainlink Labs, affirmed that “by unifying identity, compliance, token swaps, settlement, and more in a single orchestration layer, CRE is enabling the onboarding of billions of cardholders into the onchain economy.”

This creates a simple and familiar checkout experience that quickly moves a user from traditional finance to on-chain, supported by institutional-grade security and global reach. Meanwhile, the launch represents another step in Mastercard’s efforts to integrate traditional payment infrastructure with blockchain-based applications, helping it expand its digital asset strategy.

‘The Onboarding Layer For Web3’

Swapper’s launch will see multiple leading Web3 platforms integrate the Direct Deposits technology directly into their user flows, including Pi Squared, Stake.link, KyberSwap, AITECH, NPC, Teneo, BigWater, Rhuna, TrebleSwap, MyStandard, Landwolf, Dolomite, HyperSwap, Turbo, APU, and Radiant Capital, among others.

This signals strong demand for a unified card-to-on-chain standard, the announcement added, which suggests that Direct Deposits “are quickly becoming a foundational component for user acquisition across Web3.”

The launch also represents “deep technical collaboration across Mastercard, Chainlink, Swapper Finance, and key partners” to bring together payment authorization, compliance, execution, and liquidity routing in a single verifiable workflow powered by CRE and Swapper Finance.

Arthur, CTO of Swapper Finance, affirmed that “this is the onboarding layer we always believed the industry needed,” adding that Direct Deposits represent a “turning point” for how people enter the space as “the first truly unified onboarding layer for Web3.”

“Our goal has always been to remove the barriers that keep billions of people from accessing DeFi, and with this launch, that future becomes real,” Arthur stated, concluding that “Direct Deposits represent a turning point for how people enter Web3. For the first time, the process feels intuitive rather than intimidating. We expect this launch to dramatically expand the number of users who can participate in onchain markets.”

Canada’s tax authority has told investigators that roughly 40% of people using crypto platforms are at risk of not paying the right amount of tax.

Reports have disclosed the figure as part of a wider push by the Canada Revenue Agency to bring crypto activity into the tax system.

The move has already led to audits, court orders for data, and recovered funds, but criminal charges remain rare.

Audit Findings And Numbers

According to CRA figures, about 15% of flagged crypto users failed to file returns at all. Based on reports, another roughly 30% of those who did file are deemed high risk for under-reporting or other compliance gaps.

The agency’s specialist unit — reported to be around 35 auditors — has handled more than 230 audit files tied to crypto activity.

Canada’s crypto tax crackdown reaps millions. So why no criminal charges? https://t.co/iyRyZzC3rn

— BNN Bloomberg (@BNNBloomberg) December 8, 2025

Reports say the work has led to recovered tax payments that total over C$100 million, though some outlets put the recovered amount closer to C$72 million depending on which cases are counted.

Dapper Labs And Data Orders

One of the court actions targeted users of a platform run by Dapper Labs. The CRA obtained a court order seeking records for about 2,500 users, a slice of roughly 18,000 accounts that were originally on the agency’s radar.

The orders, and others like them, signal a shift: the CRA is increasingly asking judges to force platforms to hand over user data rather than relying only on audit notices.

This is because crypto records can be fragmented, cross-border, and hard to trace without platform cooperation.

Why Criminal Charges Are Limited

Based on reports and legal commentary, the CRA has won civil recoveries but has not seen criminal prosecutions in these crypto cases since 2020.

That gap highlights practical and legal hurdles. Tax fraud cases that go criminal require proof beyond a reasonable doubt that a person willfully evaded tax.

Many crypto cases involve messy transaction histories, unclear intent, or legal questions about how certain tokens should be taxed, and those factors can slow or block criminal referrals.

What It Means For Users And Platforms

For investors, collectors, and traders in Canada, the signal is clear: records matter. Reports note that other Canadian enforcement bodies, including financial intelligence units, are increasing checks on crypto firms and foreign exchanges that touch Canadian customers.

Platforms and users who kept poor records or who relied on assumed anonymity now face higher odds of being identified during audits or court orders.

Featured image from Unsplash, chart from TradingView

Bitcoin is trading at a decisive moment, holding just above the $90,000 mark after several days of tight consolidation. Despite reclaiming this key level, the market continues to struggle with upward momentum, leaving traders uncertain about the next major move. Yet beneath the surface, a key on-chain indicator has triggered fresh interest among analysts. According to top analyst Darkfost, the Hash Ribbons have just flashed a new buy signal — a development that historically aligns with strong medium-term performance for Bitcoin.

Darkfost emphasizes that this signal is not a cue to rush blindly into the market, but rather a meaningful piece of data worth highlighting. Hash Ribbon signals typically appear during periods of miner stress, when mining difficulty forces weaker miners to shut down.

These moments often precede significant accumulation phases, as selling pressure from distressed miners fades. With the exception of the unprecedented 2021 mining ban in China, every previous Hash Ribbon buy signal has produced profitable outcomes for patient investors.

Understanding The Bitcoin Hash Ribbons Signal

Darkfost explains that the Hash Ribbons indicator is built around the evolution of Bitcoin’s hashrate, comparing the 30-day and 60-day moving averages to detect periods of miner stress. When the 30-day MA of the hashrate falls below the 60-day MA, it signals that mining difficulty is rising relative to miner profitability.

In these phases, less efficient miners are often forced to scale back operations or shut down entirely, reducing the overall network hashrate.

While mining difficulty itself is influenced by several factors — including electricity costs, hardware efficiency, block rewards, and, of course, Bitcoin’s price — the key point is that miner capitulation tends to create short-term selling pressure. Miners may liquidate part of their reserves to stay afloat, often contributing to temporary weakness in the market.

However, Darkfost emphasizes that these periods of stress historically present strong mid-cycle accumulation opportunities. As weaker miners exit and difficulty adjusts downward, the market often enters a healthier phase where selling pressure subsides, and long-term participants begin to accumulate BTC at discounted prices.

Over the years, Hash Ribbon buy signals have frequently marked early stages of major recoveries, offering investors a structural, data-driven advantage even when sentiment appears uncertain.

Testing Support as Momentum Weakens

Bitcoin continues to trade just above the $90,000 level, showing signs of stabilization after several weeks of heavy downside momentum. The chart reveals that BTC has bounced off the 100-day moving average (green), which is now acting as a key dynamic support zone. This level has historically served as an important midpoint during major pullbacks, and the market’s ability to hold above it suggests that selling pressure may be easing.

However, the price remains well below the 50-day moving average (blue), which has begun to curve downward — a signal that short-term momentum still leans bearish. For a stronger recovery, Bitcoin must reclaim this moving average and convert it into support. Until then, rallies may struggle to extend meaningfully.

Volume has also compressed significantly compared to the earlier stages of the uptrend. This decline indicates hesitation from both buyers and sellers, often typical during consolidation phases following sharp corrections. The lack of aggressive selling is a constructive sign, but the absence of strong buy-side interest keeps BTC vulnerable to further swings.

If Bitcoin holds above the $90K–$88K area, it could build a base for a broader rebound. A breakdown below this region, however, would open the door to deeper retracements toward the mid-$80K range.

Featured image from ChatGPT, chart from TradingView.com

Bitcoin (BTC) is trading uncomfortably close to the $90,000 mark, as a mix of macro caution, thinning liquidity, and shifting market structure continues to weigh on price action.

Related Reading: Wall Street Storms Ripple In Explosive $500 Million Deal

What was once a retail-driven ecosystem is now increasingly shaped by institutional flows, with U.S. spot Bitcoin ETFs attracting substantial assets, while on-chain activity trends in the opposite direction. The result is a market that moves, but with participation patterns very different from those seen in earlier cycles.

Bitcoin ETF Flows Rise as Retail Activity Falls

Since the launch of U.S. spot Bitcoin ETFs in early 2024, the network has experienced a steady decline in active on-chain addresses. Analysts attribute this partly to the “convenience trade,” in which retail investors opt for exposure through traditional brokerage accounts rather than managing their own Bitcoin wallets.

BlackRock’s IBIT and similar products now capture a growing share of BTC demand, even as the blockchain itself shows a decline in grassroots participation.

Industry experts argue that this shift fundamentally changes how value circulates in the Bitcoin economy. ETF issuers, not miners or network users, are now capturing a higher share of revenue.

SwanDesk CEO Jacob King describes this as a structural pivot toward off-chain monetization, with Bitcoin functioning more as a financial instrument than a peer-to-peer asset.

BTC Price Pressure Intensifies Around Macro Events

Bitcoin’s recent price behavior reflects both macro uncertainty and intraday volatility patterns. BTC has repeatedly slipped below $90,000 despite developments that historically would support bullish sentiment, such as Strategy’s (formerly MicroStrategy) latest purchase of over 10,600 BTC.

Traders remain cautious ahead of the Federal Reserve’s policy decision, where expectations for a quarter-point rate cut are high. Yet the hesitation is evident: rallies toward $92,000 continue to meet resistance, and liquidity remains thin across spot and derivatives markets.

Consequently, analysts warn that Bitcoin must hold above a key support level near $88,000 to avoid a deeper downside.

Institutional Trading Dynamics Shape Market Movements

A growing number of analysts suggest that predictable sell-offs around the U.S. market open reflect coordinated execution rather than organic selling.

Market watchers point to high-frequency firms, such as Jane Street, which hold large ETF positions, as possible contributors to these recurring patterns. While unproven, the consistency of these drops has added to trader frustration.

Meanwhile, miners face their own pressures. Hashprice has fallen to near-record lows, prompting operators to pivot toward AI infrastructure as mining profitability erodes.

Related Reading: CEOs Of Leading Banks To Discuss Crypto Market Structure With US Senators This Week

With ETFs absorbing demand, macro signals driving sentiment, and miners restructuring their businesses, Bitcoin now sits at a pivotal moment, supported by institutional capital but missing the retail pulse that once defined its cycles.

Cover image from ChatGPT, BTCUSD chart from Tradingview

Ethereum is holding above the $3,000 level for the fourth consecutive day as the market enters a decisive week dominated by the upcoming FOMC meeting. Traders are cautiously positioning ahead of the Federal Reserve’s announcement, aware that liquidity signals and rate expectations could determine whether this recovery continues—or breaks down.

Despite the recent stabilization, fear remains firmly in control. Many analysts warn that if ETH loses the $3K floor, the market could face a deeper retracement, especially with volatility expected to spike around the macro event.

Amid this uncertainty, on-chain data from Lookonchain has revealed a striking development: BitcoinOG, the same whale who famously shorted the market during the violent October 10 crash, has now dramatically increased his bullish exposure to Ethereum. According to the data, he has ramped up his long position to 67,103.68 ETH, valued at approximately $209.8 million.

Whale Positioning Adds a New Layer of Volatility

According to Lookonchain, the BitcoinOG whale is now sitting on more than $4 million in unrealized profit from his massive Ethereum long. His position of 67,103.68 ETH, currently valued at over $209 million, comes with a liquidation price of $2,069.49, a level far below current market conditions but still within the realm of possibility if macro pressure intensifies.

This liquidation threshold is especially important because it reveals the whale’s risk appetite and how aggressively he’s leveraging this bet. A liquidation level near $2,070 implies confidence that Ethereum won’t revisit its deeper range lows, even as the market remains fragile ahead of the FOMC meeting. It also shows he has a significant margin buffer behind the trade, suggesting strategic positioning rather than impulsive speculation.

However, large leveraged positions can act as double-edged swords for the broader market. If price begins trending toward his liquidation zone, cascading liquidations across other longs could accelerate downside momentum. Conversely, whales with deep pockets often defend key levels to protect their positions.

ETH Higher-Timeframe Trend Remains Fragile

Ethereum’s weekly chart shows the market fighting to stabilize above the $3,000–$3,150 zone, a level that now acts as the primary support band after weeks of heavy selling. The recent bounce from the mid-$2,700s has created a short-term relief structure, but ETH still trades well below its 50-week moving average, which is beginning to curl downward—a signal that the broader trend is losing momentum.

The chart highlights a clear pattern: each rebound over the past six months has produced lower highs, reflecting persistent seller dominance whenever ETH approaches the $3,500–$3,800 region. This repeated rejection zone marks a key resistance cluster that bulls must reclaim to shift the medium-term outlook back toward bullish continuation.

Volume also remains relatively muted compared to earlier stages of the cycle, suggesting that current buying interest is hesitant. Without a surge in spot demand, rallies may continue to fade quickly.

On the positive side, ETH has reclaimed the 200-week moving average, an important long-term support that historically acts as a pivot between macro bull and bear phases. As long as this level holds, Ethereum retains structural strength.

ETH is in a neutral-to-bearish consolidation, and a decisive weekly close above $3,300 is needed to confirm regained momentum.

Featured image from ChatGPT, chart from TradingView.com

Ruya Bank has launched in-app Bitcoin trading, becoming the first Shari’ah-compliant bank to let customers buy and sell the cryptocurrency using a mobile banking app.

According to the bank, the move follows approval by its Shari’ah-governance board and was built with a regulated partner to handle custody and settlement.

Shari’ah Approval And Partnership

Ruya said it worked with Fuze, a regulated virtual-asset infrastructure provider, to manage custody, settlement and compliance for trades.

The bank framed the service as a Shari’ah-approved investment option rather than a tool for quick speculation. Reports have disclosed that Bitcoin is the initial digital asset offered at launch.

UAE Crypto Flows And Local Context

Between July 2023 and June 2024 the UAE recorded roughly US$30 billion in virtual-asset inflows, a rise of 42% year-on-year according to figures circulated around the launch.

Ruya Bank CEO: Bitcoin Is Now Shari’ah Compliant — A New Chapter for Islamic Digital Finance https://t.co/sijVZfAJne via @unlockbc @myruyabank #islamicFinance #isBitcoinHalal #Shariah_compliant #Bitcoin #adoption #BitcoinNews #UAE

— Unlock Blockchain (@unlockbc) December 8, 2025

That growth has come as regulators in the UAE lay out clearer rules for virtual-asset service providers, making banks and fintechs more willing to add crypto features inside regulated apps.

How The Offering Works

Users who meet the bank’s terms can execute Bitcoin buys and sells inside the Ruya app. Trade execution and custody are handled by Fuze under the arrangements described.

The bank says its Shari’ah board reviewed the structure to ensure compliance with Islamic finance principles, with an emphasis on transparency and clearer risk controls.

Potential Impact On Muslim Investors

For Muslims who have avoided crypto because of religious concerns, this gives a regulated route inside an established bank.

Analysts quoted in coverage suggested the move could nudge more conservative savers toward holding some Bitcoin when they otherwise would not have.

Adoption will depend on demand and on whether other Islamic banks follow Ruya’s example.

What Comes Next

Ruya has signaled it will consider offering other virtual assets later, depending on demand and regulatory clarity. Based on reports, the bank wants to position this service as part of longer-term wealth planning rather than short-term trading.

This step marks a notable moment: a Shari’ah-compliant bank rolling Bitcoin trading into its core app with a regulated custodian.

It could widen access for Muslim investors in the UAE and beyond, while also testing how Islamic finance rules and modern crypto systems can be combined in practice.

Featured image from Pexels, chart from TradingView

The latest S-1 registration submitted to the US Securities and Exchange Commission has placed Ethereum back at the center of market speculation. A recent SEC document shows that BlackRock’s iShares division has formally filed to launch a staked ETH exchange-traded fund, a move that would give traditional investors access not only to ETH price exposure but also to staking rewards through a regulated product.

A New ETF Structure That Brings Staking Into Traditional Finance

The proposed trust, which is called the iShares Staked Ethereum Trust ETF (ETHB), differs from previous Ethereum filings because it incorporates staking into its core design. According to the S-1 filing, the ETF would hold ether directly while delegating most of its balance to external validators, allowing staking rewards to feed into the trust’s net asset value. This approach offers institutions a pathway to access ETH’s yield component without interacting with on-chain staking infrastructure themselves.

Related Reading: Industry Leader Shares Why Ethereum Price Will Reach $12,000

The structure is bullish for Ethereum, as it shows that major asset managers like BlackRock are looking beyond basic price exposure and toward products that reflect how Ethereum now operates after its transition to proof-of-stake.

The first indication of BlackRock’s interest in ETH staking was in July, when it filed an application to add ETH staking in its iShares Ethereum Trust (ETHA). It seems the fund issuer is now taking proactive action on the staking trust with the recent standalone filing. Under SEC procedure, the new filing begins the review period, although a formal approval timeline does not start until the exchange responsible for listing the ETF submits a Form 19b-4.

If approved, the ETF could influence Ethereum’s circulating supply over time. The plan is to stake between 70% and 90% of the trust’s ETH, and this means that large inflows would steadily route more ether into long-term staking, reducing the volume actively available on the open market.

What This Could Mean For ETH’s Price Outlook

The potentially smaller liquid supply is going to contribute to a bullish ETH price, particularly during periods when demand for ETH rises. The filing itself does not change ETH’s price in the short term, nor does it signal any immediate regulatory approval. 

Related Reading: Ethereum Buyers Have Re-Entered The Arena Below $3,400, Here’s How Much They’ve Bought

What the filing does provide is a clearer picture of how ETH might fit into the next generation of institutional investment products. A staked ETH ETF would formalize staking as an investable feature and increase the types of investors who consider the altcoin a viable long-term asset.

Any eventual impact on Ethereum’s price will depend on how the approval process unfolds and how much capital flows into the product once it launches. BlackRock’s existing footprint in the Ethereum ETF niche shows how influential those inflows can be. Its iShares Ethereum Trust (ETHA) has consistently led other spot issuers, including over the past 24 hours, when ETHA recorded $23.66 million in inflows compared to Grayscale’s $11.83 million, while other issuers saw no inflows at all.

Once approved, shares of the iShares Ethereum Staking Trust are expected to trade on Nasdaq under the ticker ETHB.

XRP spent the past week caught between rising institutional demand and stagnant price action, creating a compression zone that traders say is becoming increasingly difficult to ignore.

Even as U.S. spot XRP ETFs approach the $1 billion AUM milestone, the asset continues to trade within a narrow band, leaving market participants to question whether the prolonged consolidation is setting the stage for a larger move.

The disconnect between inflows and price has become one of the week’s most notable themes. Analysts note that while institutional capital continues to accumulate, XRP’s chart remains muted, indicating heavy profit-taking following November’s rally and lingering sell-side pressure across higher timeframes.

ETF Momentum Builds as XRP Price Stalls

The XRP price is hovering near $2.06, slipping slightly despite consecutive days of ETF inflows. Analysts highlight that large holders likely sold into strength, offsetting the fresh demand entering through regulated products.

Even so, XRP ETFs have outperformed Bitcoin ETFs in terms of relative inflow strength, indicating that institutions are positioning themselves early.

Ripple CEO Brad Garlinghouse noted that XRP became one of the fastest-growing U.S. crypto ETFs of the year, arguing that broader access through traditional investment accounts is expanding the asset’s investor base.

The market reaction remains mixed, with some traders viewing ETFs as a stabilising force, while others see them as limiting upside volatility.

Regulatory and Structural Developments Add New Variables

Beyond market flows, regulatory commentary added another layer of attention. Former SEC Chair Paul Atkins emphasized tokenization as a practical path forward, highlighting its benefits, including increased transparency and faster settlement.

His remarks sparked debate within the XRP community, particularly among those who argue that the XRP Ledger is well-positioned for enterprise-grade tokenization systems.

Meanwhile, Ripple’s recent $500 million equity round, structured with downside protection for Wall Street investors, reinforced how closely the company’s valuation is tied to its XRP holdings.

Funds reportedly concluded that around 90% of Ripple’s net worth derives from its XRP treasury, underscoring the token’s central role in the firm’s long-term outlook.

Technical Picture Shows Compression, Not Capitulation

On the charts, XRP remains locked between the $2.07 support level and the $2.18 and $2.30 resistance levels.

Analysts note weakening momentum indicators but stable underlying demand. If XRP breaks above these levels, a move toward Wave 3 targets near $2.73 becomes more likely, though failure to do so could trigger another retest of lower support.

The XRP price continues to compress, supported by some of the strongest ETF inflows of the year, but constrained by steady selling and broader market caution. Whether this tension resolves upward or downward is the question traders will carry into the next week.

Cover image from ChatGPT, XRPUSD chart from Tradingview