Market sentiment has softened after Ethereum’s attempted breakout was rejected and reversed on declining volume, according to U.Today. Shiba Inu is trading below its 50-, 100- and 200-day EMA and continues to stall near $0.0000090, signaling weak bullish follow-through. Ethereum’s key support is seen at $3,050–$3,150, while Bitcoin is holding a rising base and could push toward $95,000–$100,000 if it breaks above overhead moving averages. Overall, major assets show mixed structures, with upside dependent on buyers reclaiming key EMA levels.

On December 12, the SEC issued a no-action letter giving DTCC a three-year window to custody tokenized stocks and other real-world assets on a blockchain. The move allows DTCC to expand its digital asset services in 2024. Proponents say tokenization could improve liquidity, enhance collateral mobility and enable round-the-clock market access.

On December 11, 2025, former Movement Labs co-founder Rushi Manche launched Nyx Group, a multi-strategy investment vehicle committing up to $100 million to support blockchain founders issuing new tokens. The firm plans to deploy capital into liquid markets and provide operational guidance, but will back only founders it personally knows and trusts. Manche’s return to the industry follows his removal from Movement Labs after a $38 million MOVE token market manipulation scandal and Coinbase’s subsequent delisting of the token.

Galaxy Digital issued short-term commercial paper on December 11, 2025, raising $50M through debt tokenized on the Solana blockchain. J.P. Morgan arranged the transaction, while Coinbase acted as custodian and lead investor alongside Franklin Templeton. The bank said that proceeds from both issuance and redemption will be settled in USDC.

On December 12 in Washington, D.C., Acting Chair Caroline Pham said the CFTC will withdraw its 2020 "actual delivery" guidance for digital assets under the Dodd-Frank Act. The move aims to modernize derivatives oversight and align with federal digital-asset market policy. It also supports recognizing tokenized collateral—such as Bitcoin, Ether, USDC and stablecoins—as eligible margin.

JPMorgan completed a $50 million commercial paper offering for Galaxy Digital on the Solana blockchain, with settlement conducted entirely in USDC. Coinbase Global and Franklin Templeton bought the tokenized short-term debt, while JPMorgan led the structuring and plans to extend similar on-chain issuance models. The transaction brought multiple institutions into a single workflow and is being used to test how public blockchains can support capital-markets funding.

Binance has introduced an Indication of Interest feature for spot and loan trading via its OTC and execution services platform, aimed at VIP and institutional clients handling large orders. The tool lets users privately signal buy, sell, borrow, or lend interest on block-size trades of at least $200,000 to improve liquidity discovery and reduce execution risk. By shifting large flows off the public order book toward traditional-style workflows, it may also shape transparency debates and regulatory scrutiny in crypto markets.

On 11 December 2025, Galaxy Digital CEO Mike Novogratz told attendees at Solana Breakpoint that crypto is moving into a phase where real-world, user-focused applications will determine which projects endure. He said clearer regulation now allows developers to focus on mainstream adoption and highlighted Solana as a platform for capital-market infrastructure. Novogratz reiterated his long-term optimism on Bitcoin despite 2024's volatility and cited a $9 billion Bitcoin sale by a Galaxy client as an example of early investors locking in gains. He also pointed to discussions at Abu Dhabi Finance Week as further evidence of accelerating institutional engagement with blockchain.