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<div style="display: none; max-height: 0px; overflow: hidden;">Strategy purchased an additional 10,624 BTC for approximately $962.7 million at an average price of $90,615 per bitcoin between December 1 and 7 β β β β β β β β β β β β β β β β β β β β β β β β β β β β β β β β β β β β β β β β β β β β β β β β β β β β </div>
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<h1><strong>TLDR Crypto <span id="date">2025-12-09</span></strong></h1>
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<strong>Strategy Buys $963 million more Bitcoin (7 minute read)</strong>
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Strategy purchased an additional 10,624 BTC for approximately $962.7 million at an average price of $90,615 per bitcoin between December 1 and 7, bringing its total holdings to 660,624 BTC, worth around $60 billion and representing over 3% of Bitcoin's total 21 million supply with approximately $10.6 billion in unrealized gains. The acquisition, funded through at-the-market sales of MSTR shares ($928.1m) and STRD perpetual preferred stock ($34.9m), is part of Strategy's "42/42" plan targeting $84 billion in capital raises through 2027, while the company also established a $1.44 billion USD Reserve to cover dividend payments and debt obligations for approximately 18 months. Despite the continued accumulation, Strategy's stock has declined 61% from summer peaks and trades at a market cap-to-net asset value ratio of 0.86, prompting CoinShares to warn that the digital asset treasury model is being re-evaluated as "the bubble deflates" amid concerns about shareholder dilution and token-per-share growth strategies.
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<strong>CFTC Launches Digital Assets Pilot (6 minute read)</strong>
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CFTC Acting Chair Caroline Pham launched a pilot program allowing Bitcoin, Ether, and USDC as collateral in US derivatives markets for approved futures commission merchants with strict weekly disclosure requirements for the first three months and enhanced custody oversight. The agency withdrew 2020 guidance that blocked crypto collateral and issued a no-action letter permitting FCMs to hold digital assets in segregated customer accounts. Coinbase Chief Legal Officer Paul Grewal called it "precisely what the Administration and Congress intended the GENIUS Act to enable." The program extends to tokenized real-world assets like US Treasuries that meet enforceability, custody, and valuation standards under technology-neutral rules.
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<h1><strong>Innovation & Launches</strong></h1>
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<strong>Tether Expanding to Nine New Chains (5 minute read)</strong>
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Tether's USDT received regulatory recognition as an accepted fiat-referenced token across nine blockchains in Abu Dhabi Global Market, including Aptos, Celo, Cosmos, Kaia, Near, Polkadot, Tezos, TON, and TRON, adding to earlier approvals for Ethereum, Solana, and Avalanche. ADGM-licensed institutions can now conduct regulated activities involving USDT across nearly all networks where the token circulates, forming a multi-chain foundation enhancing liquidity and interoperability for trading, settlement, and decentralized applications. The announcement coincides with Binance securing full ADGM authorization to operate Binance.com starting January 5, through three separately licensed entities mirroring traditional financial-market architecture for exchange, clearinghouse, and broker-dealer functions.
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<strong>Vitalik Buterin pushes for trustless gas futures market (6 minute read)</strong>
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Vitalik Buterin has proposed a trustless onchain gas futures market that allows users to prepay for specific gas quantities in defined time intervals, but Flashbots strategist Hasu argued the market lacks a natural short side as many want to hedge gas exposure, but no one is long gas at scale. Buterin suggested the protocol itself could auction basefee claiming rights to move from long to neutral while users shift from short to neutral, though Gnosis co-founder Martin Koppelmann countered that Ethereum's burn mechanism eliminates validators as natural sellers who would otherwise hedge without significant risk premiums.
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<strong>Solana and Base βTwin Contractβ Bridge (3 minute read)</strong>
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The new Solana, Base bridge actually works. Tokens move by a standard lock/mint model on the origin chain, while native tokens are locked (or foreign tokens burned). On the destination chain, native tokens are unlocked (or foreign tokens minted). Any SPL token can get its own deterministic ERC-20 on Base via a factory contract, and Base tokens can likewise be deployed on Solana.
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<strong>The Third Pillar of Digital Gold (6 minute read)</strong>
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Privacy represents the third pillar of digital gold alongside Bitcoin's sovereignty and Ethereum's programmability, and Zcash is positioned as the underpriced rallying point for private money that could activate self-reinforcing incentive mechanisms virally spreading cypherpunk ideals. ZEC pioneers created foundational ZK innovations like Sonic and Halo that enabled Ethereum's first rollup prototype, Ignis, built on Zcash's Bellman code seven years ago. Naval's thesis frames Bitcoin as "insurance against fiat" and ZCash as "insurance against Bitcoin."
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<div style="text-align: center;"><span style="font-size: 36px;">π¦</span></div></div>
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<div style="text-align: center;"><strong><h1>Miscellaneous</h1></strong></div>
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<strong>A World of 1,000 Stablecoin Neobanks (4 minute read)</strong>
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The current explosion of βstablecoin neobanksβ isn't happening because we suddenly got brilliant product ideas, but because infrastructure has gotten good enough that anyone can stitch together a bank-like app. These apps lean on a tiny set of centralized providers and optimize for perks instead of reliability. When any of those infra providers fail, the neobank breaks, trust evaporates, and users retreat back to CEXs and TradFi. We don't need 1,000 flashy stablecoin banks that βusuallyβ work, we need one built on rock-solid, redundant infra that always works.
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<strong>Tokenized Deposits vs Stablecoins (3 minute read)</strong>
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The Tokenized deposits vs. stablecoins debate is a false fight as banks create credit, stablecoins move money, and the future system needs both. Tokenized deposits keep corporate funds inside banks so they can borrow cheaply against them, while stablecoins are fully reserved, cash-like dollars that can move permissionlessly, 24/7, across borders. The real unlock is on-chain interoperability. Instant swaps between bank deposits and stablecoins so a company can tap cheap bank credit and pay anyone globally in seconds. In this framing, deposits = regulated credit rails, and stablecoins = universal settlement rails.
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<div style="text-align: center;"><span style="font-size: 36px;">β‘</span></div></div>
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<strong>BitMine Pushes Toward 5% of ETH Supply (3 minute read)</strong>
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BitMine now holds 3.86M ETH (~3.2% of total supply) plus ~$1B cash.
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<strong>Binance Post Confirms Insider Trading Scandal, sends memecoin higher (3 minute read)</strong>
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Binance says an employee abused access to official social media accounts to shill a just-launched meme coin seconds after it was created on BNB Chain.
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<strong>Messari & the Institutionalization of Crypto Data (2 minute read)</strong>
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Messari started in 2018 to make crypto projects more transparent through standardized reporting and analytics.
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<strong>Yield Basis Activates Fee Sharing (6 minute read)</strong>
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Yield Basis activated its fee switch and distributed 17 Bitcoin worth $1.6 million to tokenholders over four weeks after accumulating $130 million in deposits since September.
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