Kamino, a Solana-based lending platform, blocked Jupiter Lend's migration tool on December 7 over concerns about risk framework transparency. The move has sparked debate within Solana's $5 billion lending market. Solana Foundation President Lily Liu called on both platforms to prioritize collaboration over conflict, noting that Ethereum's lending market is roughly 10 times larger.

Binance will remove four leveraged trading pairs—PENGU/FDUSD, NOT/FDUSD, FLOKI/FDUSD, and INJ/FDUSD—on December 11, 2025. Isolated-margin lending for these pairs suspends on December 8, 2025. The exchange cites risk management and regulatory compliance as reasons for the delisting.

Coinbase CEO Brian Armstrong announced on December 3, 2025, that major U.S. banks have partnered with Coinbase to pilot crypto-related projects focusing on stablecoins, trading infrastructure, and custody solutions. BlackRock CEO Larry Fink participated in the discussion at the New York Times Dealbook Summit, highlighting Bitcoin's essential use cases. The collaborations reflect the financial sector's growing acceptance of digital assets.

A whale known as the "1011 Flash Crash Shorter Insider Whale" borrowed 220 million USDT from Aave and transferred the funds to Binance through three addresses on December 1, 2025. The entity controls over 500 million USD in on-chain assets and previously profited from margin trades during the October 11 flash crash. The transfer has raised questions about potential market impacts on Bitcoin and Ethereum.

Animoca Brands will pursue a Nasdaq listing in 2026 through a reverse merger with Currenc Group, retaining 95% ownership of the combined entity. The strategy aims to expand access to U.S. capital markets and diversify the company's portfolio beyond gaming into artificial intelligence, decentralized finance, and stablecoin sectors.

U.S. Congressman Warren Davidson introduced the Bitcoin for America Act on November 20, proposing to allow federal tax payments in Bitcoin. The legislation would eliminate capital gains tax on Bitcoin used for such payments and establish a Strategic Bitcoin Reserve funded by these collections.

New Hampshire's Business Finance Authority approved a $100 million municipal bond collateralized by Bitcoin on November 19, 2025, according to the agency. BitGo serves as custodian for the collateral. The issuance marks the first U.S. state-level bond backed by cryptocurrency, incorporating automatic liquidation if Bitcoin's value falls below 130% of face value.

Fidelity and Canary Marinade launched two spot Solana exchange-traded funds on November 18, 2025. FSOL began trading on NYSE Arca with a 0.25% management fee, while SOLC debuted on Nasdaq with a 0.5% fee that includes Solana staking capabilities. The dual listing expands institutional access to Solana through regulated investment vehicles.

The Canary XRP ETF (XRPC) began trading on Nasdaq on its launch day, becoming the first single-token spot ETF for XRP in the United States. The fund recorded a net inflow of $243 million on its second trading day. XRP was priced at $2.21 with a market capitalization of $132.88 billion, data show.