At Russia's State Council meeting on 25 December, Vladimir Putin was reported to have discussed U.S. interest in using a stake in the occupied Zaporizhzhia Nuclear Power Plant for large-scale cryptocurrency mining. The plant, controlled by Russia since March 2022 but still operated by Ukrainian engineers, has become a potential bargaining chip in territorial talks and could support major mining farms if ever fully restored, despite currently being shut down.

Since 11 December, Ethereum ETFs have seen $853.9 million in net outflows, with a single rebound of $84.6 million on 22 December, according to Farside Investors. ETH traded around $2,964 at press time, with $2,500 flagged as a key level if redemptions persist. Bitcoin ETFs recorded $1.538 billion in outflows over the same span, despite brief inflows on 12 and 17 December.

USD1, issued by World Liberty Financial, has surpassed a $3 billion market value and now stands at $3.12 billion, ranking sixth among stablecoins and 32nd among cryptocurrencies. Binance has boosted adoption with a 20% APR 'Booster Program' and a 1:1 swap of BUSD-collateral into USD1. WLFI positions USD1 as a payment-first asset, with partnerships spanning Coinbase, FalconX, and Solana-based projects.

XRP closed December under pressure, trading near $1.86 after a 0.35% dip and a 15% monthly slide. Analyst Zach Rector links looming volatility to a $7.1 trillion global options expiry and warns of a brief sweep to $1.60–$1.70. Spot XRP ETFs launched on 13 November have attracted $1.14 billion in inflows and hold $1.25 billion in assets.

On Christmas Eve, Hong Kong's FSTB and SFC said they had concluded consultations on a licensing framework for virtual asset dealers and custodians. The regime, modeled on Type 1 securities standards, tightens oversight of trading and custody and encourages pre-application discussions, with a follow-on phase targeting virtual asset advisors and asset managers.

As 2025 draws to a close, Bitcoin has dropped from its October peak of $126,000 to about $88,000 while Michael Saylor’s Strategy Inc. pauses new purchases. The firm holds 671,268 BTC and faces fears over a potential MSCI delisting and billions in forced passive outflows, yet its long-term debt profile and more than $2.1 billion in cash suggest it may withstand pressure and that current panic could reflect broader sector stress.

Grayscale Investments has filed a second amendment to its S-1, detailing the conversion of its existing Avalanche Trust into a spot ETF that would trade on Nasdaq under the ticker GAVX. The issuer is shifting to an in-kind creation and redemption model, updating its sponsor structure, and refining risk and financial disclosures, while rivals VanEck and Bitwise advance competing AVAX ETF proposals.

Spain plans to fully implement the EU's MiCA framework by mid-2026 and apply the DAC8 directive from 1 January 2026, requiring detailed reporting of all crypto transactions. Firms that do not secure European licenses by 1 July 2026 must cease Spanish operations, while U.S. policymakers are considering allowing federal tax payments in Bitcoin without capital gains. These changes are expected to sharply increase oversight of centralized platforms and push Spanish market participants to defend the remaining avenues of legal privacy.

The Bank of Russia proposed a tiered crypto regime to be finalized by 1st July 2026, with criminal liability from 1st July 2027 for brokers operating outside the rules. Retail investors face mandatory knowledge tests and a 300,000-ruble annual cap, while qualified investors can trade most assets except anonymous coins after a risk test.