During Abu Dhabi Finance Week, OKX Chief Executive Star Xu said, “approximately 50% of global economic activities will operate on blockchain” in the coming decades. He framed the shift as demand from a generation raised on digital services, mobility, and artificial intelligence. Xu described blockchains as programmable financial rails that move value “freely, instantly, and globally, 24/7.” He positioned the trend as infrastructure, not a trading call, pointing to stablecoin settlement growth, multi-tril ...

Market Overview - Bitcoin is trading just below the $90,000 mark, while Ether has increased by over 2% and XRP by 0.5% as investors are concerned about inflation and potential interest rate changes by the central bank in 2026 [2][4] - Major cryptocurrencies are showing positive movement as the market anticipates the Federal Reserve's final meeting of the year [1][2] ETF Developments - BlackRock has filed an application with the SEC for a staked Ether ETF, proposing an iShares staked Ethereum trust ETF to be traded on NASDAQ under the ticker ETHB [3][32] - This new ETF will complement BlackRock's existing EyesShares Ethereum Trust, which does not include staking [4] - The filing indicates optimism in the market, especially among other issuers who previously struggled to list spot Bitcoin ETFs [5] Regulatory Environment - The SEC has concluded its investigation into Finance, a tokenization platform, without any charges, suggesting a more favorable regulatory stance towards tokenized assets in the U.S. [6] - Binance has received regulatory approval in Abu Dhabi, with licenses granted for three of its entities, enhancing its compliance and operational legitimacy in the region [7][8] Market Sentiment and Predictions - Analysts are divided on Bitcoin's price trajectory, with some believing it is entering a prolonged bear market while others see it as a temporary pause in a bull market [10][11] - The recent liquidation event on October 10 resulted in over $19 billion being liquidated, significantly impacting market dynamics [16][17] - There is speculation about potential mergers and acquisitions among digital asset treasury companies as they navigate the current market conditions [22][24] Future Outlook - The passing of the Clarity Act is seen as a potential catalyst for the crypto market, providing much-needed regulatory clarity [28] - Analysts predict that 2026 could be a positive year for the crypto market, barring any unforeseen macroeconomic events [32]

Group 1: Trading Volume Surge - Bitget recorded a 4,468% surge in futures trading volume from mid-October to the end of November, marking the strongest activity period since the launch of these products [1] - Spot trading volume for tokenized U.S. stocks increased by 452% month-over-month [1] - The long-term Treasury ETF saw a trading volume surge of 69,573% month-over-month, indicating a shift towards safe-haven assets [7] Group 2: Key Stocks and Trading Behavior - The top five U.S. stock futures by trading volume included Tesla, Meta, MicroStrategy, Apple, and the Nasdaq-100 ETF [2][3] - Notable month-over-month volume surges included Meta at 40,774%, Microsoft at 24,339%, and MicroStrategy at 11,684% [5] - Spot trading for Nvidia grew by 1,888% month-over-month, with other major stocks like Tesla, Amazon, and Apple also showing strong performance [4] Group 3: Investor Behavior and Market Dynamics - Futures markets exhibited aggressive trading activity focused on mega-cap tech stocks [2] - Traders diversified their investments by participating in tokenized ETFs, such as the Nasdaq-100 and S&P 500, to mitigate single-stock risk [4] - The U.S. pre-market hours recorded the highest-volume trading window outside of regular hours, aligning with Asian investors' local afternoon [9] Group 4: Global Trading Model - Bitget's 5×24 trading model has been crucial for global investors, particularly in Asia, allowing continuous access to trading opportunities [8]

Educational Resources - Stanford's CS336 provides a video guide to Karpathy's nanochat, covering essential topics for Frontier AI Labs preparation [1] Key AI Concepts - The curriculum includes Tokenization, Resource Accounting, Pretraining, Finetuning (SFT/RLHF), Key Architectures, GPUs, Kernels, Tritons, Parallelism, Scaling Laws, Inference, Evaluation, and Alignment [1]

Core Viewpoint - The future of tokenization in the U.S. appears promising for Ondo Finance following the SEC's closure of a lengthy investigation into its operations, which did not result in any charges [1][2]. Group 1: Investigation Details - The SEC's investigation into Ondo was initiated during the Biden administration amid increased scrutiny of digital-asset firms and has now been closed without any charges [2]. - The inquiry began in 2024 under the leadership of then-Chair Gary Gensler, with Ondo being one of the few firms focused on large-scale tokenization of equities [3]. Group 2: Company Position and Market Performance - Ondo cooperated fully during the investigation and maintained that it was not a justified target, emphasizing its commitment to building regulated financial products with secure traditional assets [4]. - The ONDO token, which allows holders to vote on proposals, is currently trading around $0.47, reflecting a 3.7% increase over the past day, although it has seen a 77% decline over the past year from a peak of $214 [4]. Group 3: Regulatory Environment - The SEC's stance on tokenization has evolved since Gensler's resignation, which followed the re-election of U.S. President Donald Trump, indicating a potential shift in regulatory approach [6]. - Under Gensler's leadership, the SEC had previously indicated that cryptocurrencies functioning as synthetic representations of traditional stocks could fall under securities laws, leading to multiple lawsuits against various companies [7][8].

The Securities and Exchange Commission (SEC) has ended its regulatory probe into the tokenization giant Ondo Finance without any charges after two years of scrutiny. Ondo Finance is a tokenization platform that turns real-world assets (RWA) like stocks, funds, real estate, etc. into digital tokens via blockchain technology. Related: Ondo and Chainlink partner to bring financial institutions onchain Tokenization not only digitizes assets but also allows for 24/7 trading and fractional offerings, with Ondo ...

RT Grayscale (@Grayscale)Tokenization is accelerating — and @chainlink is one of the key technologies making it possible.Zach Pandl @LowBeta_ joined @CNBC to discuss the role Chainlink plays as traditional assets migrate on-chain. https://t.co/HPId2A0GsV ...

Market Position - Solana is the second-largest chain for tokenized stocks [1] - Tesla, tokenized by BackedFi, is the largest stock on Solana [1]

Core Insights - CoinShares has released its 2026 outlook titled "The Year Utility Wins," indicating a shift from speculation to practical adoption of digital assets [1] - The report introduces Hybrid Finance as a framework where traditional financial institutions and blockchain infrastructure converge for real economic purposes [1] Market Developments - Stablecoins have evolved into genuine settlement infrastructure, and blockchain applications are generating consistent revenues [2] - The report states that "crypto is entering a value-accrual era" with platforms distributing earnings to token holders through systematic buybacks [2] Bitcoin Projections - CoinShares projects three scenarios for Bitcoin in 2026: an optimistic case exceeding $150,000, a base case trading between $110,000 and $140,000, and a bear case influenced by recession or stagflation [3][4] - The bear case suggests prices could range from $70,000 to $100,000 under stagflation conditions [4] Economic Context - The report highlights the erosion of dollar dominance, with the dollar's global reserve share decreasing from approximately 70% at the start of the millennium to the mid-fifties [5] Corporate Holdings - Corporate Bitcoin holdings have significantly increased, with publicly-listed companies rising from 44 in January 2024 to 190 by November 2025 [5] - Total Bitcoin holdings among these companies nearly quadrupled from 265,709 BTC to 1,048,520 BTC, with total value increasing from $11.7 billion to $90.7 billion [6] - MicroStrategy (MSTR) dominates this landscape, holding 61% of publicly-listed firms' Bitcoin after increasing its holdings from 189,150 BTC to 650,000 BTC [6] - The top 10 corporate holders control 84% of the supply, while the top 20 hold 91% [7]

Core Insights - BitMine Immersion Technologies (BMNR) has accelerated its accumulation strategy by acquiring 138,452 ether (ETH), raising its total holdings to 3.86 million tokens, valued at approximately $435 million at current prices, marking a 156% increase from four weeks ago [1][2] Group 1: Financial Performance - The firm's cash holdings increased to $1 billion from $882 million, with total crypto and cash assets now worth $13.2 billion [2] - BitMine's share of the circulating supply of ETH has risen to over 3.2%, solidifying its position as the largest known ETH treasury [2] Group 2: Market Activity - BitMine's shares rose by 3.8% in pre-market trading, with ETH prices bouncing back to $3,150 [3] - Unlike other digital asset treasuries that have slowed or reversed accumulation, BitMine has increased its purchases as ETH trades below summer highs [3] Group 3: Strategic Insights - Chairman Thomas Lee indicated that the firm increased buying following Ethereum's Fusaka upgrade on December 3, which improved network scalability and security [4] - Lee also highlighted macroeconomic factors, such as the anticipated Federal Reserve rate cut and the end of quantitative tightening, as supportive for a stronger ETH market in early 2026 [4] Group 4: Market Position - BitMine remains one of the most actively traded U.S. stocks, with an average daily volume of about $1.8 billion, ranking among the top 40 most traded equities [5] - Despite its active trading status, the firm is facing significant unrealized losses on its ETH holdings, estimated at nearly $3 billion at current prices [5]