Solana (SOL) fell nearly 4% in the past 24 hours, a sharp reversal in direction from its recent high near $145. The drop followed a wave of liquidations in the derivatives market and broad altcoin weakness. Almost $390 million in crypto positions have been liquidated, $348 million of which were long according to CoinGlass. The selloff intensified after SOL breached its 20-day and 50-day exponential moving averages, according to CoinDesk Research's technical analysis data model. Volume surged during the ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

Hong Kong’s crypto industry is warning that the city’s planned adoption of new global tax reporting rules could produce unintended consequences if regulators do not adjust how the framework is applied in practice. The concerns center on the Crypto-Asset Reporting Framework (CARF), a standard developed by the Organisation for Economic Co-operation and Development to enable the automatic cross-border exchange of tax information related to crypto-asset transactions. Hong Kong officials say the CARF is need ...

Market Overview - The cryptocurrency market capitalization has decreased by 3% over the past 24 hours, now standing at $3.21 trillion, with 95 of the top 100 coins experiencing price declines [6][5][12] - Bitcoin (BTC) has dropped by 2.7% to $92,532, while Ethereum (ETH) is down 3.6% to $3,192 [5][10] Price Movements - BTC began the day at $95,000, reaching an intraday high of $95,467 before falling to a low of $92,263 [9] - ETH traded between $3,089 and $3,379, with a current price of $3,192 [11][10] Market Sentiment - The crypto fear and greed index has fallen from 50 to 49, indicating market uncertainty [12] - Market participants are awaiting macroeconomic and geopolitical signals to guide near-term movements [12] Investment Trends - Newrez, a mortgage lender, will allow specific crypto holdings, including Bitcoin and Ether, to be used as qualifying assets in its mortgage underwriting process [2][5] - Steak 'n Shake has purchased $10 million of BTC for its treasury, marking its first direct allocation since accepting crypto payments [15][16] ETF Flows - US BTC spot ETFs recorded outflows of $394.68 million, while ETH spot ETFs saw inflows of $4.64 million [5][14] - Among twelve BTC ETFs, only one posted positive flows, while four recorded outflows [13] Future Projections - Analysts suggest that BTC may see further downside unless buyers step in, with strong support around $88,000 [8][6] - A close above $104,000 would indicate the start of Wave V in the current bull run, while a drop below $80,000 could lead to a decline towards the low $70,000 range [7][5]

Anchorage Digital is preparing a major capital raise as it positions itself for a potential public listing, signaling renewed momentum for crypto firms looking to tap public markets. Key Takeaways: Anchorage Digital is seeking $200 million to $400 million in funding as it prepares for a potential IPO next year. Its federally chartered crypto bank status positions the firm to benefit from new U.S. stablecoin and digital asset rules. Anchorage is expanding stablecoin, custody and wealth management serv ...

Group 1 - Robinhood CEO Vlad Tenev emphasizes the need for the U.S. to take the lead in cryptocurrency policy, highlighting the legislative hurdles that prevent the availability of staking and tokenized stocks in certain regions [1][4] - Staking is currently unavailable in California, Maryland, New Jersey, and Wisconsin due to state regulations, despite being one of the most requested features by Robinhood users [2][3] - Tokenized stocks are accessible to Robinhood's European customers but not to those in the U.S., indicating a disparity in service availability based on geography [3] Group 2 - Tenev supports Congress's efforts to pass the cryptocurrency market structure bill, acknowledging that while progress has been made, there is still work to be done [4] - The Senate Banking Committee has delayed the markup of the cryptocurrency market structure legislation after Coinbase expressed it would not support the current version, indicating ongoing challenges in the legislative process [5] - Senate Banking Committee Chair Tim Scott mentioned that the committee is taking a "brief pause" but reassured that all stakeholders are working in good faith [5]

Regulatory Framework - South Korea is tightening regulations on crypto platforms, using app stores as a means of enforcement to distinguish between compliant digital finance and unregistered crypto activities [1] - The National Assembly has passed amendments to the Capital Markets Act and the Electronic Securities Act, establishing a legal framework for tokenized securities across various financial products [2] - The Financial Services Commission will lead the implementation of these laws, which are set to take effect in January 2027 after a one-year preparation period [3] Tokenized Securities - The new framework defines security token offerings as securities under the Capital Markets Act, with issuance and distribution information recorded on a blockchain-based distributed ledger [2] - This regulatory framework is expected to enhance the use of smart contracts and facilitate distributed ledger-based securities and account management [3] Enforcement Measures - Google Play has introduced new restrictions for crypto apps in South Korea, requiring crypto exchanges and wallet providers to register as virtual asset service providers with the Financial Intelligence Unit to remain listed [4] - Starting January 28, 2024, Android users in South Korea will be unable to download or update apps from unregistered overseas exchanges, effectively blocking major global platforms like Binance and Bybit [5] - As of Q3 2025, Android users account for over 80% of the South Korean market, making these restrictions a significant enforcement tool [6]

Core Insights - A $200 million investment by Bitmine into MrBeast's media company has generated speculation about a potential boost for Ethereum's adoption among younger audiences [1][2]. Group 1: Investment Details - Bitmine has acquired a $200 million equity stake in Beast Industries, founded by YouTube star MrBeast, marking one of its largest non-core equity positions [2][3]. - The investment aligns with Bitmine's strategy to focus on Ethereum, as Tom Lee emphasizes the cultural relevance of MrBeast's content for younger demographics [3]. Group 2: Market Reactions - Following the announcement, Bitmine's shares experienced volatility, with initial gains followed by declines amid discussions about Ethereum's future [2][4]. - Social media discussions have emerged, with traders speculating on the partnership's potential to enhance Ethereum's long-term adoption, particularly among MrBeast's global audience [4][5]. Group 3: Strategic Vision - Jeff Housenbold, CEO of Beast Industries, views the funding as validation of their vision and growth strategy, aiming to become a leading entertainment brand [4]. - Tom Lee's optimistic outlook for Ethereum includes a strategy to acquire 5% of ETH's total supply, referred to as the "Alchemy of 5%" [7][8].

Core Viewpoint - The ongoing negotiations around a major crypto bill are facing significant challenges, particularly due to concerns raised by Coinbase CEO Brian Armstrong regarding provisions that could limit the industry's growth and competitiveness [2][4]. Group 1: Legislative Developments - Senators are committed to advancing a major crypto bill despite a recent setback in the committee vote [1]. - The latest version of the bill was released late Monday, but its approval was already uncertain when Armstrong expressed Coinbase's opposition due to concerns over the bill's provisions [2]. - Following Armstrong's tweet, the Banking Chair Tim Scott postponed the hearing, indicating a need for further discussion [3]. Group 2: Industry Concerns - Armstrong highlighted that the new bill included provisions that surprised him, and by the time concerns were identified, it was too late for amendments [4]. - One major point of contention is the bill's restrictions on crypto exchanges offering interest-like rewards on stablecoins, which could impact the competitive landscape between banks and crypto companies [5][6]. - Banks are actively opposing the bill's language, fearing it could lead to significant capital shifts from traditional deposits to stablecoins, potentially resulting in a credit squeeze of up to $1.2 trillion [6][7]. Group 3: Potential for Compromise - There is a belief among some senators that with more time for negotiations, a compromise can be reached that balances innovation in the crypto space with the interests of the banking sector [7][8]. - The need for a compromise is echoed by various stakeholders, emphasizing the importance of allowing innovation while addressing the concerns of traditional financial institutions [8].

Core Viewpoint - The upcoming legislative vote is critical for the crypto industry, with only a 25% chance of bipartisan support to advance the bill, which could determine the regulatory landscape for crypto through 2027 [1][2]. Group 1: Legislative Scenarios - Scenario 1: Bipartisan Win (25% probability) - Requires all Republicans and two to four Democrats to support the bill, potentially advancing it to the Senate floor with momentum, similar to the stablecoin bill that received 68 votes [3]. - Scenario 2: Partisan Advance (50% probability) - Republicans may push the bill through committee alone, but it is likely to fail on the Senate floor without Democrat support, extending the timeline for regulatory clarity [4]. - Scenario 3: Failed Markup (25% probability) - The bill may not escape committee, delaying any legislation until after the 2026 midterms, pushing it into 2027 or beyond [4]. Group 2: Current Industry Challenges - The debate has shifted from defining securities versus commodities to a more complex "Christmas tree bill" with various amendments being proposed [5]. - Key sticking points include the regulation of DeFi, particularly the compliance requirements for non-custodial wallet developers, which are viewed as fundamentally unworkable [6]. - The potential for a bad bill could be more detrimental than no bill at all, as the industry is already achieving some regulatory relief under new SEC and CFTC leadership [6]. Group 3: Implications for Major Players - Coinbase and Robinhood both require regulatory clarity to enhance institutional adoption, but poorly defined regulations could jeopardize their crypto operations [8]. - Coinbase's CEO is actively lobbying for the bill, emphasizing the exchange's significant user base of over 100 million, while Robinhood is expanding its offerings to include crypto and prediction markets [7]. Group 4: Upcoming Legislative Actions - The text of the bill and proposed amendments will be made public shortly, with senators required to submit amendment proposals by a specific deadline [10]. - The Thursday hearing will reveal which amendments receive votes and whether any Democrats will cross party lines to support the bill [10]. Group 5: Broader Regulatory Concerns - The risk of codifying restrictive rules into federal law could have long-term implications, especially if future administrations are hostile to the crypto industry [6]. - Specific regulatory questions remain, such as whether DeFi developers will need to register with the SEC and comply with KYC/AML requirements, and how stablecoin issuers can manage interest earned on reserves [9].