Important News from Last Night and This Morning (December 8 - December 9)

US OCC Chief: No Reason to Treat Banks and Crypto Firms Differently

According to Cointelegraph, Jonathan Gould, Chief of the US Office of the Comptroller of the Currency (OCC), stated that cryptocurrency companies seeking a US federal banking license should be treated the same as other financial institutions. Speaking at a blockchain conference on Monday, he said that new applicants in digital or fintech fields can be seen as providing innovative services for national trust banks, and custody and safekeeping services have been conducted electronically for many years—there is no reason to treat digital assets differently, nor to confine banks to outdated technologies and business models. Gould said the banking system is capable of evolving from the telegraph age to the blockchain era. So far this year, the OCC has received 14 new bank charter applications, some from entities engaged in novel or digital asset businesses, a number nearly equal to similar applications over the past four years. Granting licenses helps the banking system keep pace with the financial sector and support the modern economy. Entities engaged in digital assets and other emerging technologies should have a pathway to become federally regulated banks.

glassnode Co-Founder: ETH’s Bearish Window Has Disappeared

Negentropic, co-founder of on-chain analytics platform glassnode, posted on X that ETH is quietly brewing for its next breakout and is now back above the 50-day moving average, showing a trend breakout with rising momentum. This has happened twice before, and the strong rebound trend is accelerating. The bearish window for ETH and other cryptocurrencies has disappeared. Previously, Negentropic said that rising prices of hard assets like gold, silver, and copper usually trigger better performance and a structural bull market transformation for Bitcoin. Global liquidity is shifting from tightening to easing, and cryptocurrencies will be the biggest beneficiaries.

Address Turns $716 into $244,000 Trading Franklin Token, 340x Return

According to Lookonchain, trader FKveRx turned $716 into $244,000 within a week—a 340x return. He spent $716 to buy 16.3 million Franklin tokens, then sold 4.8 million for $20,500, and still holds 11.5 million Franklin tokens worth $224,000.

HASHKEY Discloses IPO Details: Plans to Raise Up to HK$1.67 Billion, Expected Listing on December 17

According to Hong Kong Economic Times, HASHKEY HLDGS (new listing code: 03887) is open for subscription from December 9 to 12. The parent company of Hong Kong licensed virtual asset exchange Hashkey Exchange plans to issue 240 million shares, with 10% offered publicly in Hong Kong at an IPO price between HK$5.95 and HK$6.95, raising up to HK$1.67 billion. Each lot is 400 shares with a minimum investment of HK$2,808. HASHKEY expects to be listed on December 17. JPMorgan, Cathay Haitong, and Guotai Junan International are joint sponsors. As of October 31, the company held HK$1.48 billion in cash and cash equivalents and HK$570 million in digital assets, of which mainstream tokens (ETH, BTC, USDC, USDT, SOL) accounted for 89%. As of end-September, platform assets exceeded HK$19.9 billion, with 3.1% in hot wallets and 96.9% in cold wallets. The exchange’s spot trading volume reached HK$1.3 trillion cumulatively. Its main business is trading facilitation, accounting for nearly 70% of revenue. Over the past three years, HASHKEY lost HK$590 million, HK$580 million, and HK$1.19 billion, respectively. In the first half of this year, shareholders’ attributable net loss narrowed by 34.8% to HK$510 million, while revenue fell 26.1% to HK$280 million. Major shareholders include HASHKEY investor and Wanxiang Group Chairman Lu Weiding (43.2% stake, with 22.9% voting rights via the employee shareholding platform), Hashkey founder Xiao Feng (16.3%), and other investors (17.6%). Nine cornerstone investors—including UBS AM Singapore, Fidelity Funds, CDH, Xinting Fund, Infini, Zhiyuan Holdings (00990), Litong, Space Z PTE. LTD., and Shining Light Grace Limited—invested a total of $75 million (about HK$590 million).

Indian Enforcement Agency Seizes Assets Worth ₹41.9 Billion in Crypto Cases, Declares One Economic Fugitive

According to Business Standard, the Indian Parliament disclosed on Monday that the Enforcement Directorate has seized crime proceeds worth about ₹41.9 billion (about $465 million) in cases involving cryptocurrencies under anti-money laundering laws and declared one accused as an economic fugitive. Additionally, the Central Board of Direct Taxes ((CBDT)) found ₹8.8882 billion (about $100 million) of unreported income from Virtual Digital Asset ((VDA)) transactions during raids. Minister of State for Finance Pankaj Chaudhary stated in a written reply to the Lok Sabha: “CBDT issued notices to 44,057 taxpayers who traded or invested in VDAs without reporting them in the VDA schedule of their ITRs. The Enforcement Directorate investigated several crypto-related cases under the Prevention of Money Laundering Act, seizing/freezing/attaching crime proceeds worth ₹41.8989 billion, arresting 29 people, and filing 22 prosecution complaints. One accused has been declared an economic fugitive.” He added that crypto/VDAs are unregulated in India and the government is building capacity to strengthen monitoring and investigation of VDA-related transactions.

CEOs of Bank of America, Wells Fargo, and Citigroup to Meet US Senators Thursday to Discuss Crypto Legislation

According to Bloomberg, insiders revealed that Bank of America CEO Brian Moynihan, Citigroup CEO Jane Fraser, and Wells Fargo CEO Charlie Scharf will meet with bipartisan US senators on Thursday to discuss crypto market legislation that may soon be put to a vote. The discussion, organized by the Financial Services Forum (an alliance of large banks), will focus on bankers’ opposition to allowing stablecoins to pay interest, banks’ competitiveness in crypto, and preventing illicit activities with crypto. Senators involved in crypto market structure legislation have been invited.

Tether’s USDT Stablecoin Gains Key Regulatory Approval in Abu Dhabi, Usable on Multiple Major Chains

According to the official blog, Tether announced its USDT stablecoin, issued on several major blockchains, has been recognized by the Abu Dhabi Global Market (ADGM) as an “Accepted Legal Tender Reference Token” (AFRT). This allows FSRA-authorized institutions to conduct regulated USD stablecoin activities on Aptos, Celo, Cosmos, Kaia, Near, Polkadot, Tezos, TON, and TRON. This approval builds on ADGM’s previous recognition of USD stablecoins on Ethereum, Solana, and Avalanche, meaning Tether is now recognized across almost all major blockchains it supports.

US Bureau of Labor Statistics: October PPI Data Delayed to January, Will Be Released with November Data

According to Jintou, the US Bureau of Labor Statistics announced it will not release the October 2025 Producer Price Index (PPI) news release. Due to appropriations lapses (government shutdown), the BLS is delaying data collection for the October reference period and plans to release the October data together with November’s PPI on January 14, 2026.

US Senator Moreno Says Crypto Bill Talks “Frustrating,” Year-End Legislative Push Underway

According to The Block, Ohio Republican Senator Bernie Moreno said negotiations over the crypto market structure bill in recent weeks have been “quite frustrating,” with Democrats and Republicans set to meet Tuesday. Speaking at the Blockchain Association Policy Summit in Washington, DC, Moreno discussed the bill’s broader content: “I don’t want to rush out a bad bill just to say we passed something. No deal is better than a bad deal.” The House and Senate have yet to reconcile their versions of the market structure bill. The House passed its “Clarity Bill” in July, and while the Senate’s version is similar, passing bills is often harder in the Senate. Senator Tim Scott, Republican chair of the Senate Banking Committee, said hearings to amend the bill on December 17 or 18 are “practical.” However, on Monday, Democratic Senator Mark Warner said it will be difficult to complete the hearings before the holidays, as they are still awaiting the White House’s position on quorum and ethics issues.

CZ Responds to Binance Employee Misconduct: Will Continue to Assist with Reports Despite Not Managing Binance

CZ responded to Binance’s announcement about internal staff profiting from their positions: “Although I no longer manage Binance, if users report employee misconduct via DM or comments, I will handle it appropriately. I heard the case has been reported to authorities. Binance works closely with law enforcement worldwide (mainly to assist them), and lawbreakers have nowhere to hide.”

Strategy CEO: Company Will Hold Bitcoin at Least Until 2065, Maintain Long-Term Accumulation Strategy

According to Cointelegraph, Strategy CEO Phong Le said the company will hold Bitcoin at least until 2065 and maintain a long-term accumulation strategy, as despite the rise of spot ETFs, MSTR stock remains a major alternative to BTC.

Michael Saylor Pitches Bitcoin-Backed Banking System to Governments

According to Cointelegraph, Strategy founder and executive chairman Michael Saylor is pushing governments to develop digital banking systems backed by Bitcoin, offering high-yield, low-volatility accounts that could attract trillions in deposits. Speaking at the Bitcoin MENA event in Abu Dhabi, Saylor said countries could use overcollateralized Bitcoin reserves and tokenized credit tools to create regulated digital bank accounts yielding more than traditional deposits. Saylor noted that bank deposits in Japan, Europe, and Switzerland yield almost nothing, while euro money market funds yield about 150 basis points, and US money market rates are near 400 basis points, prompting investors to turn to corporate bonds. Saylor outlined a structure with 80% digital credit instruments, 20% fiat, and a 10% reserve buffer to reduce volatility. If such products are offered by regulated banks, depositors could place billions in these institutions for higher returns. The account would be backed by 5:1 overcollateralized digital credit held by a fiscal entity. Saylor said countries offering such accounts could attract “$20 trillion or $50 trillion” in capital inflows.

Coinbase to List Plume(PLUME) and Jupiter(JUPITER) Spot Trading

According to Coinbase Markets, Coinbase will launch spot trading for Plume(PLUME) and Jupiter(JUPITER). If liquidity and regional support requirements are met, PLUME-USD and JUPITER-USD trading will begin on or after 01:00 (Beijing time) on December 10.

Tether Participates in €70 Million Funding for Italian Humanoid Robotics Firm Generative Bionic

According to The Block, stablecoin issuer Tether joined AMD Ventures, Italy’s state-backed AI fund, and others in a €70 million ($81.48 million) round for Generative Bionics, a spinout from the Italian Institute of Technology. The one-year-old company is developing “embodied AI” industrial humanoid robots designed to operate in human environments, handling tasks that are difficult for traditional robotic arms. CEO Paolo Ardoino said the investment is part of a shift toward supporting “digital and physical infrastructure,” expanding Tether’s business beyond stablecoins and reducing dependence on concentrated systems under Big Tech regulation. Generative Bionics plans its first industrial deployments in early 2026, targeting manufacturing, logistics, healthcare, and retail.

Robinhood Launches ETH and Solana Staking, Expands Crypto Business

According to Fortune, Robinhood is ramping up its crypto business. Starting Tuesday, the trading app will offer Ethereum and Solana staking in New York, allowing customers to earn yields on crypto. Robinhood will allow staking for New York clients and plans to expand nationwide. Robinhood also announced a global crypto push, adding perpetual futures for various cryptocurrencies in Europe and entering Indonesia by acquiring a local broker and crypto platform.

Coinbase Adds Theoriq (THQ) to Asset Roadmap

According to Coinbase Markets, Coinbase has added Theoriq (THQ) to its asset listing roadmap. Actual trading launch depends on market maker support and technical infrastructure, with a separate announcement to follow once conditions are met.

US CFTC Launches Digital Asset Pilot Allowing BTC, ETH, and USDC as Collateral

According to CoinDesk, the US Commodity Futures Trading Commission (CFTC) launched a pilot program Monday allowing Bitcoin, Ethereum, USDC, and some other digital assets as collateral in US derivatives markets. Acting chair Caroline Pham said this is part of setting rules for tokenized collateral (including tokenized Treasuries). Only certain Futures Commission Merchants (FCMs) can participate for now. These firms can use BTC, ETH, USDC, and other payment stablecoins as margin for futures and swaps but must meet strict reporting and custody rules. For the first three months, they must disclose digital asset holdings weekly and report issues to the CFTC. Registered firms can use Bitcoin as collateral for commodity-leveraged swaps, with the CFTC monitoring risk and custody. The agency also issued a no-action letter allowing FCMs to deposit some digital assets in segregated customer accounts under strict risk controls. The CFTC rescinded 2020 guidance that hindered crypto as collateral, as the GENIUS Act updated federal rules and the old guidance is outdated. The CFTC emphasizes technology neutrality, but tokenized real-world assets (like Treasuries) must meet enforceability, custody, and valuation standards.

USDC Treasury Mints 500 Million USDC on Solana Chain

On-chain data shows that at 23:25:15 and 23:25:51 (UTC+8), USDC Treasury minted 250 million USDC each time on Solana, totaling $500 million.

Pye Finance Raises $5 Million Seed Round Led by Variant and Coinbase Ventures

According to CoinDesk, Pye Finance completed a $5 million seed round led by Variant and Coinbase Ventures, with participation from Solana Labs, Nascent, and Gemini. Pye is building an on-chain marketplace on Solana to make time-locked staked assets tradable, splitting staked SOL into transferable principal and reward tokens to enhance liquidity and yield management. The product is expected to begin private testing in Q1 2026.

BitMine Added 138,452 ETH Last Week, Holdings Exceed 3.86 Million

BitMine Immersion Technologies (NYSE: BMNR) announced that as of December 7, it holds 3,864,951 ETH, with 138,452 ETH added last week, up 156% from its weekly pace four weeks ago. At a disclosed price of $3,139/ETH, this week’s addition is worth about $435 million. BitMine now holds about 3.2% of total ETH supply and aims to reach 5%. It also holds 193 BTC, $1 billion in cash, and $36 million in “moonshot” equity, with total assets of $13.2 billion.

Hyperliquid Launches $STABLE Contract with Up to 3x Leverage

Hyperliquid has launched long/short trading for the $STABLE contract, with up to 3x leverage.

Tether Issues 1 Billion USDT on Tron Chain

According to Whale Alert, Tether Treasury just issued 1 billion USDT on Tron at 21:05.

Paradigm Invests $13.5 Million in Brazilian Stablecoin Project Crown

Crypto VC Paradigm announced a $13.5 million investment in Brazilian stablecoin firm Crown, valuing the company at about $90 million. This is Paradigm’s first investment in Brazil. Crown says its BRL-pegged stablecoin, BRLV, is now the “world’s largest emerging market stablecoin,” fully backed by Brazilian government bonds, with a current scale of about 360 million BRL ($66 million). BRLV targets institutional clients, who can earn Brazil’s high interest rate (about 15%) by holding the stablecoin. Paradigm says Crown has established strong network effects and could expand rapidly in Brazil.

Strategy Spends $963 Million to Buy 10,624 More BTC

Strategy CEO Michael Saylor posted that the company recently bought 10,624 BTC for about $963 million, at an average cost of $90,615 per BTC. He added that the company’s Bitcoin annualized yield (YTD 2025) has reached 24.7%. According to the Form 8-K filed with the SEC on December 8, 2025, as of December 7, 2025, the company holds 660,624 BTC at a total cost of about $49.35 billion, averaging $74,696 per BTC. The purchase was funded by selling STRD and MSTR stock through ATM financing.

Binance Alpha Launches Stable (STABLE)

Binance Alpha launches Stable (STABLE). As previously reported, Binance will begin its Alpha airdrop tonight at 21:00, and users holding ≥250 points can claim.

US SEC Ends Two-Year Investigation of Ondo Finance with No Charges Recommended

According to Crypto In America, the US SEC formally ended its two-year investigation of Ondo Finance in November with no recommendation of charges. The probe focused on the compliance of tokenizing US Treasuries and whether ONDO is a security. Sources say that under new chairman Paul Atkins, the SEC has closed most crypto-related investigations and withdrawn several cases.

BlackRock Files for iShares Staked Ethereum Trust ETF

Bloomberg analyst Eric Balchunas reported that BlackRock has filed a formal prospectus (Form S-1) with the US SEC for the iShares Staked Ethereum Trust ETF. This will be its fourth crypto-related ETF product, after spot Bitcoin, spot Ethereum, and “Bitcoin yield” ETFs.

Binance: Employee Exploited Position for Personal Gain, Suspended and Pursued Legally

Binance Futures released an announcement on its investigation into employee misconduct, stating that on December 7, 2025, it received a report that an employee used internal information to post on official social media for personal profit. The employee was linked to a token listed at 05:29 UTC and promoted it via the official account within a minute. This conduct was confirmed as abuse of position for personal gain, a serious violation of company policies and the code of conduct. Binance has suspended the employee and initiated legal action, awarding $20,000 each to five users who reported via the official email.

Ripple’s $500 Million Stock Sale Includes “Profit-Protect” Buyback Clause

According to Bloomberg, Ripple completed a $500 million share sale (estimated valuation $40 billion) in November, with investors including Citadel Securities, Fortress, Marshall Wace, Brevan Howard, Galaxy Digital, and Pantera. Some investors estimate about 90% of Ripple’s net assets are its XRP holdings (worth about $124 billion in July, gradually unlocked). The deal includes a protection clause: investors can sell back at a 10% annualized return within 3-4 years; if Ripple chooses to buy back, the rate is 25% annualized. There is also liquidation preference. XRP is down about 16% since October 31 and over 40% from its July peak; as of Sunday, Ripple’s XRP holdings were valued around $83.3 billion, above the latest fundraising valuation. Ripple says it has no IPO timeline.

ZachXBT Offers $5,000 Bounty for Multi-Platform User Data

On his personal channel, “on-chain detective” ZachXBT announced a $5,000 bounty to the first person who successfully scrapes user data (username, user ID, on-chain address, points, etc.) from Kaito Yaps, Wallchain, Galxe, Layer3, Cookie, and Xeet platforms.

Amber Group and Metalpha Withdraw 9,000 ETH from Binance Hours Ago

According to Lookonchain, Amber Group withdrew 6,000 ETH (about $18.8 million) from Binance two hours ago, and Metalpha withdrew 3,000 ETH (about $9.4 million) three hours ago.

DeFi Structured Position Tool Asgard Raises $2.2 Million Seed Round Led by Robot Ventures

According to Asgard Finance, the project completed a $2.2 million seed round led by Robot Ventures, with participation from Solana Ventures, Colosseum, Primal, Presto, mtnDAO, and Dead King Society. Asgard’s main product, Credit Backed Positions (CBP), is a new DeFi structured position tool. Over $35 million in CBP positions have been created by initial test users. Built on Solana, Asgard aims for efficient, composable on-chain structured trading.

USPD Announces V1 Attack Aftermath Plan and V2 Rebuild Roadmap

According to USPD’s official announcement, USPD V1 suffered a CPIMP deployment attack on December 4, 2025, not due to a smart contract vulnerability. The team will issue 1:1 redeemable Claim Tokens to about 230 affected users in January 2026 and set up a dedicated protocol revenue compensation pool. USPD V2 will feature a modular architecture, integrate Railgun privacy by default, and enhance DeFi compatibility, expected to launch in Q2 2026.