Meta is reviewing budget reductions of up to 30% for its Reality Labs division in 2026, Bloomberg reported, citing sources familiar with internal discussions. The metaverse unit has accumulated losses exceeding $70 billion since 2021. Metaverse-linked crypto tokens have declined sharply, with the sector's total market capitalization falling to under $3.4 billion from more than $500 billion at the start of 2025.

World Liberty Fi transferred 250 million WLFI tokens worth $40 million to wallets linked to Jump Trading, data show. The tokens were deposited into trading wallets showing moderate DEX activity, though they remained unmoved in the initial hours. WLFI currently trades at $0.15, near its three-month low.

U.S. financial regulators are racing to implement the GENIUS Act by July 2025, following Congressional passage of the stablecoin legislation earlier this year. The law requires stablecoins to maintain 100% dollar backing and mandates annual audits for issuers exceeding $50 billion in market value. Multiple agencies including the Federal Reserve, FDIC, NCUA, and OCC are coordinating new licensing frameworks and oversight structures to meet the statutory deadline.

Solana Mobile will release its SKR governance token in January 2026 with a fixed supply of 10 billion units. The allocation designates 30% for community airdrops targeting early adopters. Initial inflation stands at 10% annually, declining by 25% each year until reaching a terminal rate of 2%.

Citadel Securities has urged the U.S. Securities and Exchange Commission to classify decentralized finance protocols as exchanges and broker-dealers when they facilitate tokenized securities trading. In a letter dated Tuesday, the trading firm warned that broad regulatory exemptions would create inconsistent standards for identical securities and weaken investor protections. The proposal has drawn sharp criticism from cryptocurrency industry leaders who argue it misinterprets existing law and threatens innovation.

Connecticut's Department of Consumer Protection issued cease-and-desist orders on Tuesday targeting Kalshi, Robinhood, and Crypto.com for offering event contracts without state licenses. Regulators classified these offerings as illegal sports wagering, citing violations of state gaming laws and consumer protection standards. The platforms must immediately stop advertising to Connecticut residents and allow users to withdraw funds.

Connecticut's Department of Consumer Protection issued cease-and-desist orders to Robinhood, Kalshi and Crypto.com on Wednesday for allegedly offering unlicensed sports wagering contracts. The companies countered that their event-contract products fall under federal CFTC jurisdiction, not state gambling law.

Connecticut's Department of Consumer Protection issued cease-and-desist orders to Kalshi, Robinhood, and Crypto.com on December 3, 2025, for allegedly offering sports-related prediction contracts without state licenses. The platforms must immediately stop providing such services to Connecticut residents and allow fund withdrawals. Non-compliance may result in civil penalties under state unfair trade practices law or criminal charges for gaming violations.