Weekly Review and Outlook | Circle Issues 500 Million USDC on Solana; Japan Plans to Include Crypto Assets in Securities Regulatory Framework; Gemini Approved by CFTC to Establish Prediction Market; Fed Cuts Benchmark Rate by 25 Basis Points
This article compiles key industry news from the week and provides an outlook on industry trends for the next week, offering you a more comprehensive view of market trends and forward-looking analysis.
Key News Review
Circle Issues 500 Million USDC on Solana, Stablecoin Demand Strengthens
This week, on-chain monitoring data showed that US stablecoin issuer Circle issued 500 million USDC in two transactions on the Solana network. The newly minted stablecoins have been transferred to the Solana treasury wallet address officially recognized by Circle and can be fully tracked on the blockchain explorer. Within 24 hours after minting, the trading volume of USDC exceeded $11.9 billion. Since October 11, the cumulative supply of USDC on the Solana network has exceeded $15 billion.
Dubai Customs and Binance Cooperate to Promote Crypto Payment Applications
This week, Dubai Customs and cryptocurrency exchange Binance signed a strategic cooperation memorandum. The two parties formally reached an agreement during the 2025 Binance Blockchain Week event, planning to integrate crypto asset payments into Dubai's trade, customs, and logistics systems. According to the agreement, Binance will provide digital payment solutions including Binance Pay, exploring the use of cryptocurrency for settlement in import and export customs duties, trade fees, and other areas, and testing whether it can improve transaction efficiency, shorten customs clearance time, and reduce costs.
Twenty One Begins Trading on NYSE, Stock Price Drops 20% on First Day
Bitcoin treasury company Twenty One Capital began trading on the New York Stock Exchange (NYSE) on Tuesday. This listing comes from the business merger of the company with special purpose acquisition company Cantor Equity Partners, which has been completed. The merged entity is named Twenty One Capital, Inc., and plans to transfer over 43,500 custodied bitcoins back to its own custody account and update reserve certificates. Twenty One is jointly supported by stablecoin issuer Tether and Bitfinex, with SoftBank Group holding significant minority equity. The company is positioned as a Bitcoin-native listed enterprise. The company's stock price fell 20% on its first day of trading.
Strive Launches $500 Million SATA Stock ATM Financing Plan, Part of Funds to be Used for Bitcoin Purchase
Cryptocurrency financial company Strive announced the launch of a $500 million SATA stock automated trading market (ATM) financing plan. According to the company announcement, financing will be conducted through the issuance of additional SATA shares, planned to be executed in batches over the coming months. The company stated that part of the net proceeds will be used to purchase Bitcoin to further expand its digital asset reserves, while also being used for corporate operations and technology development.
American Bitcoin Increases Holdings by 416 BTC, Total Holdings Rise to 4,783 BTC
US Bitcoin investment company American Bitcoin announced an increase in holdings of 416 BTC. The company's total holdings have now risen to 4,783 BTC. According to the announcement, this purchase was completed using existing cash reserves, aiming to further solidify the company's long-term strategic layout in the digital asset领域.
Japan Plans to Include Crypto Assets in Securities Regulatory Framework, Tightens IEO Disclosure and Cracks Down on Insider Trading
Japan's Financial Services Agency (FSA) proposed a new regulatory framework草案, planning to bring cryptocurrency trading and Initial Exchange Offerings (IEOs) under the scope of securities law regulation. According to the draft, IEO projects must meet stricter information disclosure obligations, including project team background, use of funds, and risk提示, to enhance investment transparency. Simultaneously, the new regulations will strengthen打击力度 against insider trading and market manipulation behaviors, and clarify legal responsibilities for违规 enterprises and individuals.
Jupiter Issues Stablecoin JUP USD, Acquires RainFi to Layout Peer-to-Peer Lending
Blockchain platform Jupiter announced it will launch the stablecoin JUP USD, aimed at providing a stable value medium for payments, trading, and decentralized finance (DeFi) applications within the ecosystem. JUP USD will be pegged to the US dollar, with minting and redemption conducted through on-chain smart contracts to ensure transparency and traceability. At the same time, the Jupiter team has completed the acquisition of加密 lending platform RainFi, planning to integrate its technology and user resources to launch peer-to-peer lending services, supporting users in conducting direct digital asset lending transactions on the platform.
Gemini Approved by CFTC to Establish Prediction Market, May Expand to Crypto Derivatives in the Future
US cryptocurrency exchange Gemini announced it has received approval from the Commodity Futures Trading Commission (CFTC) to establish a blockchain-based prediction market. This market allows users to place bets on the outcomes of various events using digital assets and settle through smart contracts. Gemini stated that the current approval covers the basic trading of prediction markets, but may expand to crypto futures, options, and perpetual contracts and other derivative products in the future to enrich the platform's financial product lines.
Fed Cuts Benchmark Rate by 25 Basis Points to 3.50%-3.75%
The Federal Reserve announced it will lower the target range for the federal funds rate by 25 basis points to 3.50%-3.75%, marking the third consecutive adjustment. The Fed stated that this rate cut aims to respond to slowing economic growth and financial market volatility, while keeping inflation within a controllable range.
Next Week's Highlights
HashKey Discloses IPO Details, Plans to Raise Up to HKD 16.7 Billion, Listing on December 17
This week, digital asset financial services company HashKey Group disclosed details of its initial public offering (IPO) plan. The company plans to list on the main board of the Hong Kong Stock Exchange, aiming to raise up to HKD 16.7 billion. The IPO is expected to officially list and trade on December 17. According to the disclosure documents, the raised funds will be used to expand blockchain infrastructure, digital asset management business, and overseas market expansion.
Token Unlocks
Onyxcoin will release 296.4 million XCN tokens on December 15, accounting for approximately 0.81% of the current circulating supply.
WalletConnect Token will release 12.63 million XCN tokens on December 15, accounting for approximately 3.98% of the current circulating supply.
Connex will release 1.32 million CONX tokens on December 15, accounting for approximately 1.61% of the current circulating supply.
Hooked Protocol will release 4.17 million HOOK tokens on December 15, accounting for approximately 1.31% of the current circulating supply.
Starknet will release 127 million STRK tokens on December 15, accounting for approximately 5.07% of the current circulating supply.
Sei will release 55.56 million SEI tokens on December 15, accounting for approximately 1.08% of the current circulating supply.
GAL will release 58,670 GAL tokens on December 16, accounting for approximately 0.34% of the current circulating supply.
Slash Vision Labs will release 4.81 million SVL tokens on December 16, accounting for approximately 0.06% of the current circulating supply.
Tribal Token will release 9.6 million TRIBL tokens on December 16, accounting for approximately 1.2% of the current circulating supply.
Vertex will release 1.04 million VRTX tokens on December 16, accounting for approximately 0.17% of the current circulating supply.
Arbitrum will release 92.65 million ARB tokens on December 16, accounting for approximately 1.9% of the current circulating supply.
Astar will release 9.72 million ASTR tokens on December 17, accounting for approximately 0.22% of the current circulating supply.
Nyan Heroes will release 5 million NYAN tokens on December 17, accounting for approximately 2.56% of the current circulating supply.
OmniFlix Network will release 8.84 million FLIX tokens on December 17, accounting for approximately 1.68% of the current circulating supply.
Yala will release 10.25 million YALA tokens on December 17, accounting for approximately 4.98% of the current circulating supply.
ZKsync will release 17.31 million ZK tokens on December 17, accounting for approximately 3.26% of the current circulating supply.
Solv Protocol will release 40.14 million SOLV tokens on December 17, accounting for approximately 1.79% of the current circulating supply.
ApeCoin will release 14.84 million SOLV tokens on December 17, accounting for approximately 1.55% of the current circulating supply.
Bubblemaps will release 10.6 million BMT tokens on December 18, accounting for approximately 2.17% of the current circulating supply.
Catizen will release 14.49 million CATI tokens on December 18, accounting for approximately 3.79% of the current circulating supply.
Melania Meme will release 26.25 million MELANIA tokens on December 18, accounting for approximately 4.79% of the current circulating supply.
Polyhedra Network will release 15.53 million ZKJ tokens on December 19, accounting for approximately 3.87% of the current circulating supply.
Vulcan Forged will release 39,680 PYR tokens on December 19, accounting for approximately 0.12% of the current circulating supply.
YZY will release 12.5 million YZY tokens on December 19, accounting for approximately 3.7% of the current circulating supply.
Pixels will release 91.18 million PIXEL tokens on December 19, accounting for approximately 4% of the current circulating supply.
Euler will release 17,870 EUL tokens on December 20, accounting for approximately 0.07% of the current circulating supply.
Lista DAO will release 33.44 million LISTA tokens on December 20, accounting for approximately 6.85% of the current circulating supply.
LayerZero will release 25.71 million ZRO tokens on December 20, accounting for approximately 6.79% of the current circulating supply.
KAITO will release 8.35 million KAITO tokens on December 20, accounting for approximately 2.88% of the current circulating supply.
DeLorean will release 387.1 million DMC tokens on December 21, accounting for approximately 8.46% of the current circulating supply.
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