Bitcoin ETF Custody Concentrates Power, Raising Systemic Risk
Spot Bitcoin exchange‑traded funds now hold over $54 billion, roughly 1.5 million BTC. The ETF structure places the underlying coins in a trust controlled by a handful of custodians, with Coinbase identified as the dominant custodian, creating a single point of operational failure.
Also developing:
By the numbers: Pepeto raises $7M in token presale

Tokenized US Treasury products have surged to roughly $9 billion across 60 offerings, a five‑fold increase in 18 months. Major asset managers such as BlackRock, Franklin Templeton, Circle, and JPMorgan now issue on‑chain Treasury‑backed funds that can be redeemed in stablecoins. These tokens are being used as high‑grade collateral for crypto derivatives and integrated into DeFi lending and rate‑curve protocols, though redemption windows and KYC requirements limit full composability. The shift signals a structural migration of traditional dollar‑denominated collateral onto public blockchains, reshaping DeFi’s monetary base.
It's that part of the cycle where people overvalue the downside and undervalue the upside. A lot of questions are being raised whether a particular project is actually valuable enough to be having a token and why something should exist. Whether...

Exodus (EXOD) is launching a fully reserved, USD‑backed stablecoin in partnership with fintech firm MoonPay, with the token slated to go live in January 2026. The stablecoin will be built on M0 infrastructure and will power the upcoming Exodus Pay product, enabling...
Below, I share the comments I made yesterday at the SEC for their Roundtable on Financial Surveillance and Privacy. https://www.sec.gov/newsroom/press-releases/2025-138-sec-announces-agenda-panelists-roundtable-financial-surveillance-privacy Thank you Chairman, Commissioners, SEC Staff Members, my fellow industry representatives, and all others in attendance and tuned in —...

Quantum computing breakthroughs are accelerating, putting the $4 trillion Web3 asset base at risk as Shor's algorithm can break ECDSA signatures used by Bitcoin and Ethereum. Researchers argue that zero‑knowledge (ZK) cryptography, especially zk‑STARKs and lattice‑based proofs, can be built on...

Bitcoin hovered around $87,500 on Dec. 16, posting a modest 2% gain over 24 hours while underperforming the S&P 500 by roughly 26% in the fourth quarter. The lag mirrors earlier cycles where a weak quarter precedes a rebound as fund...

U.S. Senator Elizabeth Warren sent a letter to the Treasury and Justice Departments demanding disclosure of any investigations into decentralized finance platforms, specifically naming PancakeSwap and Uniswap as potential national‑security threats. She highlighted alleged money‑laundering links to North Korea and...
"We are still seeing a lot of activity coming in from more customers - not just trading their assets, but buying crypto and transferring them out to DeFi platforms. That to me shows that we are far from the bear...

Trader demand for XRP has evaporated, with Binance futures taker‑buy volume collapsing by roughly 96% since its July peak. The estimated leverage ratio on the pair has slumped to 0.18, indicating widespread deleveraging across retail, mid‑size and institutional participants. Wallet...

The SEC Crypto Task Force’s sixth roundtable, led by Commissioner Hester Peirce, spotlighted a surging demand for privacy‑preserving tools as crypto adoption accelerates. Peirce argued that existing financial‑surveillance rules are outdated and risk stifling on‑chain innovation. Experts, including StarkWare’s Katherine Kirkpatrick Bos,...

The Republic of the Marshall Islands has launched the world’s first blockchain‑based universal basic income using the USDM1 sovereign bond on the Stellar network. Developed with the Stellar Development Foundation and Crossmint, the program swaps quarterly cash deliveries for instant...

Gnosis Chain will execute a hard fork on Dec 22 to return roughly $9.4 million frozen after the Balancer V2 hack, which siphoned $128 million across multiple chains. The fork requires validator software updates and will penalize nodes that do not follow the...

The holiday season is seeing a surge in crypto‑related scams, as cybercriminals exploit increased online activity, heightened emotions, and festive promotions. Scammers employ phishing emails, fake wallet apps, bogus token presales, romance “pig‑butchering,” and impersonation attacks that have risen sixfold...
"I can't believe that the SEC had a panel on privacy. I was in the government almost 5 years ago... and part of the reason I left was I didn't feel the government understood the value of crypto and spoke...
$CFG (per request) Dead altcoin chart. https://t.co/u4EvsYoIj3

Polkadot (DOT) rose 1.9% to $1.91 after Coinbase announced USDC integration, sparking a technical breakout. Trading volume jumped 17% above the monthly average, with institutional participation three times the norm. The price held above a $1.87‑$1.88 support zone, forming higher...
$RGTI (per request) Looks like a fake breakout which usually sends price lower https://t.co/3Szo0kIm8K
$HBAR (per request) Looks like a nasty breakdown here. https://t.co/9tiPgOPoiT

Valour, a subsidiary of DeFi Technologies, received approval to list a Solana exchange‑traded product (VSOL) on Brazil’s primary stock exchange, B3. The ETP, denominated in Brazilian reais, will track Solana’s price and joins existing Valour offerings for Bitcoin, Ether, XRP...
$EOSE (per request) Top Goon X sell approaching alert seems to be playing out. Looks like it will probably drop to that support below https://t.co/CxldDtoFB6
$ICP (per request) Not much to say other than full pump retrace off of that resistance rejection. Pretty dead chart. https://t.co/G4yrv9FwXB
Neutrl, a newly launched DeFi protocol, issues the synthetic stablecoin NUSD and lets users stake it for sNUSD, earning double‑digit yields. The platform employs market‑neutral strategies—OTC purchases and perpetual futures arbitrage—to generate returns, and currently holds just under $185 million in...
$UUUU (per request) Happy I sold a while back.. nasty PA up here. If it loses this diagonal it would likely drop back below $10 https://t.co/effnlqYCZD
$ETH (per request) Looks stuck between a rock and a hard place. Not expecting anything significant in the near term looks like it's headed for more sideways chop https://t.co/aJQZ5sDCnI
$ENA (per request) Rejected off that 22ema resistance and made new local lows. Still in strong bear trend. https://t.co/erxdjN01ZD
$VIAV (per request) Weekly looks to be in a rising wedge and daily with a potential topping pattern. If it loses support then likely to drop back to $15 area https://t.co/lIV970V1Ho
$ZEC (per request) Nice bounce from lower range to upper range but now is probably the time where it goes sideways and chops people up. https://t.co/Eknhcs81Ac
$HGRAF (per request) Dropping unfortunately but approaching a key support level and hasn't tested the 99smma in a long time. Hopefully it can form a support base her for more upside. https://t.co/pkcjjwfuzU
$BNB (per request) Not much to say at the moment as it's in a downtrend after parabola breakdown If it's going to bounce it needs to break this resistance so I'd wait for a breach of that level rather than knife catching....
Are you watching $POL on @CoinMarketCap?

$HYPE (per request) Dropping into an important support level.. If it has any hope of dead cat bouncing it needs to be here. Below this and it likely just fades into oblivion https://t.co/vkwYE2Uz1U

Buying the extreme Bitcoin fear has historically always worked out well Current score: 11 🤔 https://t.co/u2ReF8354V
I'm stoked about the innovative token/equity alignment @rainbowdotme (776 co) is pioneering w/ their Class F structure 👏 $RNBW presale is live thru Dec 18th US folks: https://t.co/iU1W0GicNg Rest of world: https://t.co/I88ezq4fnT
Gov token => phone os root certificate manager => vertical control of the UX and revenue capture for the gov token. skr and sms is enforcement of token holder value capture with cryptography and tees. Someday everyone will understand...
Johann discussing why Robinhood chose Ethereum for its L2 instead of Solana 👀
"We didn't decide to go with the Ethereum L2 because we don't like Solana, it's about what we are trying to achieve..." - Johann on why Robinhood preferred Ethereum for its L2 instead of Solana
"I always think that crypto was made by engineers for engineers, and we forgot 99% of the population at the same time." - Johann, Senior VP & Crypto HM @ Robinhood
Pure JavaScript implementation of Bao verifiable streaming. 🙂 https://t.co/EwumDqp4Ld
The year 2026 must be bearish. I've heard the same story at the end of 2024 that 2025 must be bullish.
Thanks to @Uniswap for sponsoring this Unchained episode and making independent crypto journalism possible. One way for you to support Unchained is through today’s sponsor: https://t.co/ZrJmOK10fA
Prediction In the next 5 years we'll see a Stablecoin Arab Spring somewhere in the world. Five years after Facebook social media was overthrowing governments. Five years after the GENIUS bill stablecoins will do the same. Unstoppable internet money is a threat to despots.
Here's my full talk from @solana Breakpoint on how NEAR Intents enables universal liquidity across chains. 130+ assets supported. Powering ZECSOL on @Raydium, @encifherio, @orca_so, and many more. https://t.co/prHknnSZLT

The most important Bitcoin chart you’ll see today 🚨 ZOOM OUT https://t.co/Gv02MwAzRI
Jessi Brooks discussing why and how the judge sentenced Do Kwon to 15 years when the prosecution recommended 12 years on @DEXintheCityPod
"To bring assets and identities onchain, things like these, using crypto tools, we can still meet compliance goals, but with less data collection." - @jillgun on @DEXintheCityPod https://t.co/aN9nzZ9ze5
Negative headlines are dominating the conversation, but there are many economic data points that tell a very different story. https://t.co/M87EVlXIQZ
The Bitcoin Quantum Leap: Quantum computing won’t break Bitcoin—it will harden it. The network upgrades, active coins migrate, lost coins stay frozen. Security goes up. Supply comes down. Bitcoin grows stronger.
Crypto Privacy, Do Kwon’s Sentence & Robinhood’s Onchain Strategy https://t.co/QucnkGumrT
Peter Schiff vs Peter Schiff🚨Gold vs Tokenized Gold...😆 #Gold #Silver #Ethereum @cz_binance @PeterSchiff @ethereum @DenarioSwiss @orogoldapp https://t.co/3PXWQOLuuj
Peter Schiff takes a (possibly) premature victory lap over Bitcoin🔥 FULL INTERVIEW 👉 https://t.co/UCB5TMk21N @PeterSchiff #Gold #Silver @cz_binance https://t.co/3m6yh3NyT2