OKX plans to launch trading for the NIGHTUSDT perpetual contract on December 9, 2025 at 19:30 (UTC+8), according to an official announcement. The derivative will offer maximum leverage of up to 20x and will be available simultaneously via the exchange's web platform, mobile app and API.

European Union Financial Services Commissioner Maria Luisa Albuquerque said on December 9 that the bloc aims to begin implementing its capital markets union reform package by 2027, marking the first time a timetable has been set for the initiative, BlockBeats and Jinshi reported. The proposal, which still needs approval from the European Parliament and the Council of the EU and faces strong opposition from some member states, would centralize supervisory powers so that major clearing houses, central securities depositories, trading venues and cryptocurrency companies fall under the authority of ESMA.

Singapore Exchange has logged $250 million in cumulative volume on its Bitcoin and Ethereum perpetual futures since launch two weeks ago, CoinDesk reported. SGX president Michael Syn said the contracts are attracting fresh liquidity rather than capital moving from other venues. Institutional investors are primarily using these regulated contracts for spot-futures arbitrage instead of taking outright long positions.

BlockBeats reports that HASHKEY HLDGS launched its share offering on Dec 9 and targets an HKEX Main Board listing on Dec 17. It plans a global sale of about 2.41 亿 shares, with a minimum subscription of about 2808.04 港元. At a midpoint offer price of 6.45 港元, net proceeds are about 14.26 亿港元, for technology and infrastructure upgrades and global expansion. Revenue for 2024 rose to about 7.21 亿港元; a BiyaPay analyst said HASHKEY HLDGS' long-term growth could benefit if Asia's regulatory environment remains supportive.

On-chain analyst Murphy said on December 9 that Bitcoin balances on centralized trading platforms have fallen to 2.936M BTC, a new low for the current cycle, with more BTC being moved on-chain for reserve rather than deposited for selling, BlockBeats reported. The previous time exchange balances were at a similar level was on December 17, 2022, after the FTX collapse, while Binance's BTC balance has shown a clear short-term price correlation, with four rapid increases since early 2024 coinciding with BTC price weakness and the recent continuous decline viewed as creating preconditions for a rebound. On-chain data cited by Murphy show that whale cohorts holding more than $1M and $10M in BTC are mainly withdrawing to on-chain addresses, whereas smaller holders with less than $100,000 tend to send BTC to exchanges. The analyst believes the rebound in BTC since the $80,000 low has not yet concluded.

Address (0x8d0) bought ETH spot near $3115 in the past 3 hours on December 9 and opened 20x ETH long positions, according to HyperInsight. Its ETH spot holdings rose to 2004 ETH, and the long position average was $3125. The address also added 66.13 BTC spot, and both ETH and BTC spot were transferred cross-chain.

The Federal Reserve ended balance-sheet reduction on December 1. Foreign media analysis said the FOMC's key signal may focus on balance-sheet strategy rather than a 25 basis-point rate cut. Evercore ISI expects a transition to a Reserve Management Purchase plan. It could start in January 2026 and buy about $35B of Treasury bills per month, lifting annual balance-sheet growth above $400B.

Binance Alpha will list Midnight (NIGHT), with trading scheduled to start at 17:00 (UTC+8) on Dec. 9, 2025, BlockBeats reported. Users holding at least 230 Alpha Points can initially claim 600 NIGHT, and if eligible users remain, the threshold will drop by 10 points every 5 minutes. Each claim consumes 15 Alpha Points and must be confirmed within 24 hours, or the allocation will be forfeited.

Polymarket's Dec. 9 market "Will Thailand strike Cambodia?" rose from 37% to 62% within one hour on Dec. 9. Bangkok Post said the Thai Royal Army confirmed an F-16 destroyed a casino used as a drone control station and the air force was targeting rocket bases. Thailand's military said it carried out a "retaliatory" strike after a border clash killed a Thai soldier. The "before Dec. 31" contract jumped from 28% between 8:00 and 10:00 yesterday and settled "Yes", while new Dec. 9 market settles daily and remains unsettled on low trading volume.