Google is backing Bitcoin miners with at least $5 billion in credit guarantees to fund AI data center pivots, rather than investing directly. Miners such as Cipher, IREN, TeraWulf and Hut 8 supply land and power while Fluidstack signs long-term leases; Google backs those obligations. Related miner stocks climbed 300–500% in 2025, and Google took warrants of 14% (TeraWulf) and 5.4% (Cipher).

Hyperliquid Foundation says it will permanently remove about $1 billion in HYPE by locking 37 million tokens in an unspendable system address. Validators are voting on an Assistance Fund between December 17 and 21. The move comes amid intense competition in perpetual DEXs and aims to tighten supply while refocusing attention on cash-flow metrics.

Derivatives protocol Synthetix is migrating from Layer-2 networks back to Ethereum's mainnet after three years. Citing liquidity fragmentation, it plans to wind down deployments on Base, Arbitrum and Optimism by mid-2025, according to ainvest.com; SNX has fallen about 83% since late 2024. The return begins with a gated V3 soft launch.