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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In today’s market, nuance has largely been replaced by clarity, and subtle humor has given way to exaggeration.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.

Два крупных владельца токенов Pump.fun (PUMP) и Ethena (ENA) понесли убытки на общую сумму $27 млн после того, как закрыли свои трейдинговые позиции в этих монетах. На рекордные убытки инвесторов-китов обратила внимание платформа аналитики Lookonchain.

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 

Рост котировок ведущих альткоинов в следующем году с высокой вероятностью не состоится, заявил главный аналитик компании CoinEx Research Джефф Ко (Jeff Ko).

Биткоин потерял свыше 22% в четвертом квартале текущего года, что может стать худшим показателем за последние семь лет, сообщает аналитическая платформа CoinGlass.

Одна из крупнейших в мире криптобирж Bybit объявила о прекращении своей деятельности на территории Японии и поэтапной блокировке аккаунтов пользователей, проживающих на территории страны.

На текущий момент рынок биткоина проходит фазу стабилизации после масштабной коррекции, которая произошла в начале октября, сообщили аналитики компании VanEck.

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.

Комиссия по ценным бумагам и биржам Ганы (SEC) предупредила знаменитостей и инфлюенсеров о недопустимости продвижения криптовалют без необходимого разрешения, пригрозив за нарушения штрафными санкциями.

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

Сенатор штата Аризона Венди Роджерс (Wendy Rogers), принадлежащая к Республиканской партии, предложила несколько законодательных инициатив для внесения изменений в налогообложение цифровых активов в штате.

Сооснователь биржи BitMEX и инвестор Артур Хейс (Arthur Hayes) заявил, что к марту биткоин может вырасти до $200 000, но затем курс снизится и достигнет дна на отметке выше $124 000.

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