HashKey, operator of Hong Kong's largest licensed crypto exchange, has priced its Hong Kong IPO close to the upper end of its HK$5.95–HK$6.95 range, selling 240.6M shares at HK$6.68 for proceeds of about HK$1.6B ($206M). The deal, which drew strong institutional demand and is scheduled to start trading on Wednesday, could make HashKey the first publicly listed crypto exchange in the city.

On Friday, Bitcoin slipped under $90,000 as Asia began the final full trading week of 2025 with softer risk appetite amid concern over tech earnings. Broadcom's sales outlook pulled the S&P 500 down about 1%, and futures signaled early losses for Australia, Hong Kong, and Japan. According to the article's market snapshot, Bitcoin was $89,293 (down 1.1%) and Ether $3,111 (down 0.3%).

YouTube now allows US creators to receive payouts in PayPal's PYUSD stablecoin. The feature is live for US-based users, with PayPal converting earnings into PYUSD for those who opt in. Google confirmed support for PYUSD payouts, while PayPal handles the crypto settlement end-to-end.

Coinbase is preparing to introduce prediction markets and its own line of tokenized U.S. equities, with a formal unveiling scheduled for December 17. The exchange plans to issue these tokenized stocks directly rather than via partners, expanding its roadmap as on‑chain stock trading and event‑based markets gain traction.

Bitcoin traded above $92,000 on Friday as Asian equity markets advanced after the S&P 500 notched a record close, while crypto gains stayed constrained by heavy long liquidations. Market analysts pointed to over $220M in long positions being wiped out and noted that recent US spot Bitcoin ETF inflows and ETH/BTC strength are shaping risk appetite as investors reassess Federal Reserve rate-cut expectations.

Nearly half of high-net-worth investors in Asia-Pacific now allocate more than 10% of their portfolios to crypto, with 87% of over 270 respondents already holding digital assets, according to Sygnum's APAC HNWI Report 2025. Most plan to increase exposure, with median allocations in the 10%–20% range and a weighted average close to 17%.

Bitcoin slipped nearly 2% during early Asian trading on Thursday, even as regional equity markets advanced after the U.S. Federal Reserve delivered a widely expected 25 bps rate cut on December 10, 2025. Fed Chair Jerome Powell struck a cautiously optimistic tone on policy normalization, prompting traders to reassess the pace of easing heading into 2026.

HashKey is planning a Hong Kong initial public offering that would make it the city’s first listed cryptocurrency exchange, aiming to raise up to HK$1.67B (about $215M) through a global share sale, according to its prospectus. The deal, which runs through Friday with trading due to start on December 17, would value the company at around HK$19B at the top of the price range and fund product innovation, custody enhancements and infrastructure expansion.

On December 8, 2025, the U.S. CFTC launched a pilot allowing Bitcoin, Ether and USDC to be used as collateral in regulated derivatives markets, according to the agency. For the first three months, futures commission merchants may accept only these assets and must submit weekly reports. The agency also issued guidance on tokenized collateral and withdrew a 2020 advisory.