Senators said on Tuesday that their long-delayed crypto market-structure bill is finally nearing completion, but the White House pushed back after reviewing proposed ethics rules connected to digital asset profits tied to <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48761333/donald-trump-fueled-bitcoins-rise-beyond-100000-can-btc-survive-his-2028-exit">President Donald Trump's family</a>.



<h3 class="wp-block-heading">Senate Seeks End-Of-Week Draft</h3>



Sens. Kirsten Gillibrand, (D-NY), and Cynthia Lummis, (R-Wyo.), told attendees at the Blockchain Association Policy Summit in Washington that bipartisan <a href="https://www.theblock.co/post/381924/nothing-holding-bill-democratic-sen-gillibrand-senate-advance-crypto-bill?utm_source=browser&amp;utm_medium=chrome&amp;utm_campaign=notification">negotiations</a> have accelerated, with a goal of releasing a draft by the end of the week and holding a markup next week.



Gillibrand said Democrats and Republicans have held productive sessions in recent days and that "nothing is holding up this bill."



Momentum for a federal market-structure framework has grown since the House passed its version, the Digital Asset Market Clarity Act, in July.&nbsp;



The push reflects growing pressure from Bitcoin <a href="https://www.benzinga.com/quote/BTC-USD" target="_blank" class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> and broader crypto markets for clearer regulatory boundaries as institutional participation accelerates.



The Senate is now working on two parallel drafts across the Banking and Agriculture Committees.



One proposal divides oversight between the SEC and the CFTC while introducing the term "ancillary assets" to clarify which cryptocurrencies would not be treated as securities.



A separate Agriculture Committee draft released last month focuses on expanding the CFTC's authority.



<h3 class="wp-block-heading">Talks Expand To Decentralized Finance And Ethics Rules</h3>



Gillibrand said the Senate draft aims to address issues the House bill did not, including how to regulate decentralized finance exchanges.&nbsp;



She said Democrats delivered their final list of changes to Republican staff on Monday evening.



However, one section remains contentious.&nbsp;



Lummis said she negotiated an ethics proposal with Sen. Ruben Gallego (D-AZ) that would restrict elected officials and their families from issuing or profiting from digital assets while in office.



The White House rejected that language.



"The White House kicked it back and said, you can do better than this," Lummis said, adding that she plans to revise and resubmit the provision.



Ethics rules have taken on added political sensitivity after reports that President Donald Trump and his family generated significant income from ventures linked to the World Liberty Financial <a href="https://www.benzinga.com/quote/WLFI-USD" target="_blank" class="ticker-link" data-ticker="WLFI" data-exchange="CRYPTO" rel="noopener">(CRYPTO: WLFI)</a> DeFi and stablecoin platform, according to Bloomberg.



<h3 class="wp-block-heading">Negotiators Face Policy, Industry And Political Pressures</h3>



Lummis described the talks as "three-dimensional chess," involving Democrats, Republicans, industry participants and the administration simultaneously.



Her comments contrasted with Sen. Bernie Moreno (R-Ohio), who said earlier in the week that discussions had been "decently frustrating."



Still, industry groups expect movement before year-end.&nbsp;



Cody Carbone, CEO of The Digital Chamber, told The Block that the window remains open for market-structure legislation to reach President Trump in early 2026 if committees advance a draft this week.



He said progress on markups would be the clearest sign that Congress is preparing to finalize a bill investors have been awaiting for several years.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/technicals/25/12/49288193/stock-of-the-day-has-dollar-general-reversed">Stock Of The Day: Has Dollar General Reversed?</a></li>
</ul>



Image: Shutterstock

Senate Claims Crypto Bill Is Ready, But White House Says 'Do Better'

Bitcoin <a class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> is seeing a surge in bullish sentiment ahead of Wednesday's expected 25 bps Fed rate cut, with traders rotating back <a href="https://www.benzinga.com/money/bitcoin-price-prediction-oct-14">into risk assets</a>.



What Happened: Bitcoin rallied 4% on Tuesday to reclaim the $93,000 level, triggering a sharp shift in prediction market probabilities.



<ul class="wp-block-list">
<li>Kalshi's contract for "Will Bitcoin cross $100,000 again this year?" jumped to 51%, up from 34% earlier in the day.</li>
</ul>



<ul class="wp-block-list">
<li>On Polymarket, the $95,000-and-above range saw odds climb 24% to 88%, while probabilities for a move above $100,000 surged 19% to 50%.</li>
</ul>



Crypto analyst Kaleo <a href="https://x.com/CryptoKaleo/status/1998442520641184235?s=20">noted</a> the current environment mirrors October 2024—high fear, heavy bearish positioning, and expectations of another major collapse. 



That period ended up marking a bottom before BTC pushed to new all-time highs, a reminder that extreme pessimism often precedes major opportunities.



With the FOMC meeting approaching, traders emphasized that holding key support levels could set Bitcoin up to test the $100,000 mark before year-end.



Also Read: : <a href="https://www.benzinga.com/crypto/cryptocurrency/25/12/49276866/bitcoin-holds-90000-as-ethereum-xrp-dogecoin-wobble-on-weak-etf-inflows">Bitcoin Holds $90,000 As Ethereum, XRP, Dogecoin Wobble On Weak ETF Inflows</a>



What's Next: Market commentator ChimpZoo <a href="https://x.com/ThinkingBitmex/status/1998439902065705037?s=20">said</a> Bitcoin is set for an asymmetric squeeze. 



A $7,000 move higher from here would liquidate ~3,500 BTC worth of short positions, while a $10,000 drop would liquidate only ~1,350 BTC in long positions, showing the market is overwhelmingly short-biased.



For Ethereum, Cold Blooded Shiller <a href="https://x.com/ColdBloodShill/status/1998446275637690511?s=20">highlighted</a> the breakout traders have been waiting for, targeting the most obvious liquidity zone to squeeze shorts. 



If ETH can sustain above this level, broader market optimism could finally return.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/12/49281097/why-does-bitcoin-keep-dumping-as-soon-as-the-us-trading-session-starts">Why Does Bitcoin Keep Dumping As Soon As The US Trading Session Starts?</a></li>
</ul>



Image: Shutterstock

Bitcoin's Odds Of Hitting $100,000 In 2025 Jump To 51% As Fed Rate Cut Looms

Ethereum <a class="ticker-link" data-ticker="ETH" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/ETH-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</a> co-founder Vitalik Buterin criticized what he called "unhinged" attacks on Europe in a Tuesday post, arguing that much of the internet's anger is "over the top" and detached from the reality he observes <a href="https://www.benzinga.com/markets/tech/25/09/47656522/ethereum-co-founder-vitalik-buterin-responds-to-security-concerns-over-openais-chatgpt">on the ground</a>.



<h3 class="wp-block-heading">Buterin Pushes Back Against Internet Outrage Toward Europe</h3>



Buterin said he has watched a growing wave of anti-EU sentiment <a href="https://x.com/VitalikButerin/status/1998353131822870675?s=20">spread</a> across social media in recent days, including from figures he previously considered "interesting and sophisticated."&nbsp;



He argued that the tone of commentary has shifted into exaggerated rhetoric that paints Europe as facing "apocalyptic" decline.



While acknowledging issues such as excessive bureaucracy, privacy-related missteps, and uneven foreign-policy treatment, he said the intensity of the criticism "seems really over the top" compared to his own experience spending about two months per year in Europe over the past decade.



He added that many posts appear aimed at delegitimizing Europe as a whole rather than offering constructive feedback.&nbsp;



"I don't believe the line that ‘the target is not Europe, it's the EU,'" he wrote, noting that he saw several attacks directed at London as well.



<h3 class="wp-block-heading">Context: Buterin's Earlier Opposition To ‘Chat Control'</h3>



Buterin's <a href="https://forklog.com/en/vitalik-buterin-criticizes-eus-chat-control-legislation/">remarks</a> come months after he publicly opposed the EU's proposed "Chat Control" legislation, which would require platforms to scan private messages for illegal content.&nbsp;



In September 2025, he said the plan threatened digital privacy and argued that governments "cannot make society secure by making people insecure."



The bill drew criticism from developers, privacy advocates and traders who said it would violate Articles 7 and 8 of the EU Charter and accelerate adoption of decentralized Web3 communication tools.&nbsp;



ForkLog reported that lawmakers had considered exempting intelligence, police, military and ministerial communications from scanning, a move critics called hypocritical.



The legislation remains controversial across member states and continues to influence debates about digital rights as new regulatory frameworks take shape.



<h3 class="wp-block-heading">Why Buterin's Comments Matter For Investors</h3>



Buterin's pushback matters because it highlights how far online discourse has drifted from the day-to-day reality builders see on the ground in Europe.&nbsp;



His comments underline a problem investors often overlook. When social-media narratives spiral, they can distort how teams judge regulatory risk, which shapes where capital and talent ultimately flow.&nbsp;



For crypto founders, Europe still offers workable rules and a growing framework for tokenization and digital identity, yet the loudest commentary online paints a very different picture.&nbsp;



Buterin is pointing out that this gap can cause investors to overlook regions that quietly offer stability while others remain gridlocked.&nbsp;



If that mismatch keeps widening, Europe could become a market that people underestimate simply because the discourse around it is louder than the facts.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/12/49280159/ethereum-or-solana-the-real-winner-is-one-youre-ignoring-bitwises-matt-hougan-says">Ethereum Or Solana? The Real Winner Is One You&#8217;re Ignoring, Bitwise&#8217;s Matt Hougan Says</a></li>
</ul>



Image: Shutterstock

Ethereum Founder Vitalik Buterin Says Anti-EU Attacks Are 'Unhinged' And 'Over The Top'

U.S. small caps climbed to fresh record highs Tuesday as traders nearly fully priced in a Federal Reserve rate cut<a href="https://www.benzinga.com/topic/federal-reserve"> at Wednesday's policy meeting.</a>



<ul class="wp-block-list">
<li>SLV ETF is up 110% year-to-date. Check live prices <a href="https://www.benzinga.com/quote/SLV">here</a>.</li>
</ul>



By 12:30 p.m. in New York, the Russell 2000 rose 0.6% to 2,540, extending its breakout as investors rotated into small caps and other rate-sensitive sectors.



The CME FedWatch tool showed a 90% chance of a 25-basis-point cut at the Dec. 10 meeting, while Polymarket odds were even firmer at 95%, signaling broad conviction that the Fed is about to begin easing.



The S&amp;P 500 added 0.3% to 6,865, sitting less than a percentage point from record highs. The Dow Jones Industrial Average gained 0.3% and the Nasdaq 100 inched 0.2% higher to 25,700.



Job openings jumped to 7.67 million in October, topping expectations and easing concerns that the U.S. labor market is cooling too quickly.



Rate-cut expectations continued to fuel a sharp rally across precious metals. Silver advanced nearly 4% to $60.39 per ounce, a new all-time high that pushed its year-to-date gain toward 110%, making it the world's top-performing major asset. Gold rose 0.4% to about $4,210 per ounce, set to break a two-day losing streak.



Precious metal miners continue to outperform with the VanEck Gold Miners ETF <a class="ticker-link" data-ticker="GDX" data-exchange="ARCA" href="https://www.benzinga.com/quote/GDX" target="_blank" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GDX">GDX</a>)</a> and the Global X Silver Miners ETF <a href="https://www.benzinga.com/quote/SIL" target="_blank" class="ticker-link" data-ticker="SIL" data-exchange="ARCA" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SIL">SIL</a>)</a> up 3.5% and 4.3%, respectively. 



Crypto extended its rebound, with Bitcoin <a class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> climbing more than 4% above $94,000 and Ethereum <a class="ticker-link" data-ticker="ETH" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/ETH-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</a> surging more than 7%. High-beta tokens, including Cardano <a class="ticker-link" data-ticker="ADA" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/ADA-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>)</a> and Solana <a class="ticker-link" data-ticker="SOL" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/SOL-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</a>, posted high-single-digit gains. 



Shares of Strategy Inc. <a class="ticker-link" data-ticker="MSTR" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/MSTR" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MSTR">MSTR</a>)</a> rallied more than 7%, reaching a three-week high. 



<h3 class="wp-block-heading">Tuesday's Performance In Major U.S. Indices</h3>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Major Indices</th><th>Price</th><th>% Change</th></tr></thead><tbody><tr><td>Nasdaq 100</td><td>25,697.06</td><td>+0.3%</td></tr><tr><td>S&amp;P 500</td><td>6,865.00</td><td>+0.3%</td></tr><tr><td>Dow Jones</td><td>47,898.01</td><td>+0.3%</td></tr><tr><td>Russell 2000</td><td>2,539.04</td><td>+0.6%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 12:30 p.m. ET</figcaption></figure>



 According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:



<ul class="wp-block-list">
<li>The Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/VOO">VOO</a>) inched 0.3% higher to $630</li>



<li>The SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DIA">DIA</a>) moved 0.26% down to $476.93</li>



<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/QQQ">QQQ</a>) edged 0.2% higher to $625.14</li>



<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IWM">IWM</a>) rose 0.6% to $252.59</li>



<li>The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLE">XLE</a>) outperformed, up 1.4%</li>



<li>The Health Care Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLV">XLV</a>) lagged, down 0.3%</li>
</ul>



<h3 class="wp-block-heading">Russell 1000 – Top 5 Gainers</h3>



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Stock Name</th><th>% Change</th></tr></thead><tbody><tr><td>Teleflex Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/TFX">TFX</a>)</td><td>+9.98%</td></tr><tr><td>Strategy Inc. </td><td>+7.68%</td></tr><tr><td>Ares Management Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ARES">ARES</a>)</td><td>+7.11%</td></tr><tr><td>Circle Internet Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/CRCL">CRCL</a>)</td><td>+5.75%</td></tr><tr><td>DocuSign, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DOCU">DOCU</a>)</td><td>+5.47%</td></tr></tbody></table></figure>



<h3 class="wp-block-heading">Russell 1000 – Top 5 Losers</h3>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Stock Name</th><th>% Change</th></tr></thead><tbody><tr><td>SLM Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SLM">SLM</a>)</td><td>-16.15%</td></tr><tr><td>AutoZone, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/AZO">AZO</a>)</td><td>-6.99%</td></tr><tr><td>Graphic Packaging Holding Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GPK">GPK</a>)</td><td>-6.26%</td></tr><tr><td>Ferguson Enterprises (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FERG">FERG</a>)</td><td>-5.95%</td></tr><tr><td>Summit Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SMMT">SMMT</a>)</td><td>-4.98%</td></tr></tbody></table></figure>



Read Now: 



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<li><a href="https://www.benzinga.com/markets/economic-data/25/12/49284095/markets-are-95-sure-of-a-cut-but-this-italian-bank-says-the-fed-will-hold">Markets Are 95% Sure Of A Rate Cut — But This Italian Bank Says The Fed Will Hold</a></li>
</ul>



Photo: Shutterstock

Russell 2000 Hits Record Highs, Silver Rallies To $60: What's Moving Markets Tuesday?

XRP <a class="ticker-link" data-ticker="XRP" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/XRP-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</a> and Ethereum <a class="ticker-link" data-ticker="ETH" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/ETH-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</a> surged 5% on Tuesday as a major Ethereum whale lifted a long position <a href="https://www.benzinga.com/money/ethereum-eth-price-predictions">to $266 million</a>.



<h3 class="wp-block-heading">XRP Breaks Its Downtrend And Retests The 200 EMA</h3>



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1389" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/09122942/XRP-BZ-DEC-9.png" alt="" class="wp-image-1204845" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/09122942/XRP-BZ-DEC-9.png 2048w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/09122942/XRP-BZ-DEC-9-300x203.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/09122942/XRP-BZ-DEC-9-1024x695.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/09122942/XRP-BZ-DEC-9-768x521.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/09122942/XRP-BZ-DEC-9-1536x1042.png 1536w" sizes="(max-width: 2048px) 100vw, 2048px" /></figure>



<a href="https://in.tradingview.com/symbols/XRPUSD/?exchange=CRYPTO">Price Prediction for XRP (Source: TradingView)</a>



XRP is up about 5% as price pushes above the descending trendline that has defined the entire decline since early November.&nbsp;



Traders have monitored this level for weeks, and the clean breakout shows sellers losing control.



XRP price now trades above short-term EMAs, confirming early positive momentum.&nbsp;



The next major level is the 200-day EMA near $2.19, where several prior rallies stalled.&nbsp;



A close above that line would strengthen the case for a broader trend reversal.



Support has shifted upward to the $2.1–$2.12 band.&nbsp;



Buyers repeatedly defended this region during the recent consolidation.&nbsp;



Holding above it keeps $2.3 in focus and opens a path toward the larger resistance zone between $2.55 and $2.6.



The RSI sits near 66, showing strong demand without entering overbought territory.&nbsp;



That combination often accompanies early breakouts rather than exhaustion phases.



<h3 class="wp-block-heading">Ethereum Clears Major Levels As Whale Expands $266M Long</h3>



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1389" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/09122937/ETH-BZ-DEC-9.png" alt="" class="wp-image-1204843" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/09122937/ETH-BZ-DEC-9.png 2048w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/09122937/ETH-BZ-DEC-9-300x203.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/09122937/ETH-BZ-DEC-9-1024x695.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/09122937/ETH-BZ-DEC-9-768x521.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/09122937/ETH-BZ-DEC-9-1536x1042.png 1536w" sizes="(max-width: 2048px) 100vw, 2048px" /></figure>



<a href="https://in.tradingview.com/symbols/ETHUSD/">ETH Price Analysis (Source: TradingView)</a>



Ethereum is up more than 8% after breaking through the 0.618 Fibonacci retracement at $3,195 and approaching the $3,330–$3,350 resistance band.&nbsp;



The move ends weeks of sideways price action marked by low volatility.



ETH now trades above all short EMAs and is holding above the 200-day EMA near $3,178.&nbsp;



Reclaiming this level is significant because it capped upside attempts for nearly a month.&nbsp;



A sustained hold would confirm that buyers have regained momentum.



Support now sits at $3,195 and at the EMA cluster around $3,130.&nbsp;



A clear break above $3,350 would likely target $3,500, followed by a wider move toward $3,800.



RSI near 74 signals strong demand but not yet an immediate reversal warning.&nbsp;



<h3 class="wp-block-heading">Whale Activity Shows Rising Conviction Behind Ethereum</h3>



A major Ethereum whale who correctly <a href="https://x.com/TedPillows/status/1998429456298648063">positioned</a> ahead of the Oct. 10 market drop has now flipped aggressively long, increasing exposure from $218 million to roughly $266 million within days. 



The account added about $48 million in new size earlier today.



The position shows a return on equity of nearly 28% and carries no short exposure.&nbsp;



The liquidation level sits around $2,117, far below spot, suggesting the holder is prepared to maintain the long position through volatility.



Unrealized profits jumped from about $3.37 million to nearly $14.9 million following the latest addition.&nbsp;



Such concentrated positioning has drawn attention from traders who view whale behavior as a gauge of market sentiment.



This shift comes as the sector continues to digest Cardano's <a class="ticker-link" data-ticker="ADA" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/ADA-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>)</a> 11% rally today, which was driven by enthusiasm around the <a href="https://www.benzinga.com/crypto/cryptocurrency/25/12/49284420/ada-up-10-as-charles-hoskinson-touts-single-biggest-event-in-cardano-history">upcoming</a> Midnight privacy network.&nbsp;



The move helped lift activity across several large-cap assets and altcoins.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/12/49280159/ethereum-or-solana-the-real-winner-is-one-youre-ignoring-bitwises-matt-hougan-says">Ethereum Or Solana? The Real Winner Is One You&#8217;re Ignoring, Bitwise&#8217;s Matt Hougan Says</a></li>
</ul>



Image: Shutterstock

XRP Up 5% As Ethereum Whale's $266 Million Long Signals A Trend Shift

The U.S. derivatives market just witnessed a regulatory turning point. On December 8, 2025, the Commodity Futures Trading Commission launched a pilot program allowing Bitcoin <a href="https://www.benzinga.com/quote/BTC-USD" target="_blank" class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a>, Ethereum <a href="https://www.benzinga.com/quote/ETH-USD" target="_blank" class="ticker-link" data-ticker="ETH" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</a>, and Circle&#8217;s USDC stablecoin to serve as collateral in regulated derivatives markets. This could fundamentally reshape how institutional capital flows into digital assets.



Here&#8217;s the thing: derivatives trading represents approximately 74% of all crypto activity, with annual volumes approaching $23 trillion. The ability to post digital assets as collateral removes a friction point that&#8217;s been keeping serious institutional money on the sidelines for years.



<h2 class="wp-block-heading">Why Capital Efficiency Actually Matters</h2>



Acting CFTC Chairman Caroline Pham&#8217;s announcement introduces a structured framework for Futures Commission Merchants to accept Bitcoin, Ethereum, and USDC as margin collateral. The three-month pilot comes with stringent oversight: participating firms must file weekly reports on digital asset holdings and immediately disclose any operational disruptions.



The CFTC also withdrew its 2020 Staff Advisory 20-34, which had restricted how virtual currencies could be held in segregated customer accounts. The agency cited the GENIUS Act, signed into law in July 2025, as providing the legislative clarity that institutional compliance departments can actually work with.



Look, in traditional derivatives markets, traders post cash or low-yield securities as margin. That capital just sits there, earning basically nothing. For crypto firms with substantial digital asset exposure, this has meant choosing between maintaining derivatives positions or keeping capital deployed in higher-yielding strategies.



The pilot program eliminates that trade-off entirely. A hedge fund holding substantial Bitcoin can now use those holdings as collateral for futures contracts without liquidating to cash. A corporate treasury with USDC reserves can post stablecoins for derivatives exposure while maintaining dollar-denominated liquidity.



CME Group Inc. <a class="ticker-link" data-ticker="CME" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/CME" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/CME">CME</a>)</a> reported that Q3 2025 saw <a href="https://www.cmegroup.com/newsletters/quarterly-cryptocurrencies-report/2025-october-cryptocurrency-insights.html" rel="nofollow">record-breaking</a> crypto derivatives activity, with combined futures and options volume exceeding $900 billion and average daily open interest reaching $31.3 billion. Institutions now contribute approximately 42% of total derivatives trading volume, up from negligible levels just two years ago. These are sophisticated risk managers who understand collateral optimization. Allowing crypto collateral creates a multiplier effect on capital deployment.



<h2 class="wp-block-heading">The 24/7 Settlement Advantage Everyone&#8217;s Underestimating</h2>



One of the pilot&#8217;s most underrated implications is operational. Traditional collateral moves through banking infrastructure that operates on business-day schedules. Those settlement delays create exposure windows and limit how quickly you can adjust margin requirements when markets get volatile.



Crypto collateral operates continuously. Bitcoin, Ethereum, and USDC transfer 24/7, enabling real-time margin adjustments. When Bitcoin drops 5% at 2 AM on Sunday, firms can immediately post additional crypto collateral rather than sweating it out until Monday morning to access traditional funding sources. This makes crypto derivatives markets genuinely more resilient during stress events.



<h2 class="wp-block-heading">Playing Catch Up In The Global Race</h2>



The U.S. derivatives market holds roughly 27% of the global $700 trillion derivatives market but has badly lagged in crypto derivatives innovation. Offshore exchanges have dominated, with platforms like Binance recording $1.7 trillion in monthly Bitcoin futures volume as of May 2025. Regulatory uncertainty has kept significant institutional flow outside U.S. jurisdiction.



The CFTC pilot represents a strategic attempt to reverse this capital flight. JPMorgan research indicates that 85% of surveyed firms already <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45135471/bitcoins-global-reawakening-how-institutional-changes-are-driving-the-2025-boom">allocate to</a> digital assets or plan to in 2025, with regulatory clarity cited as the primary driver. The collateral pilot removes one of the last major regulatory obstacles preventing these institutions from routing trades through U.S. exchanges.



Frankly, it&#8217;s about time. Watching trading volume migrate offshore because of regulatory paralysis has been frustrating to observe.



<h2 class="wp-block-heading">The Risks Are Real Though</h2>



Despite industry enthusiasm, the pilot introduces risks. Crypto assets are significantly more volatile than traditional collateral. Bitcoin&#8217;s recent drop from above $100,000 to around $95,000 triggered $750 million in liquidations. That&#8217;s the mark-to-market risk clearinghouses must manage.



There&#8217;s also a legitimate question about procyclicality. If crypto prices fall sharply, does accepting crypto collateral amplify volatility by forcing simultaneous deleveraging across spot and derivatives markets? Traditional collateral serves as a stabilizing force precisely because it&#8217;s uncorrelated with the underlying derivatives position. Crypto collateral creates concentrated exposure that could intensify market stress during the next real blowup.



The three-month pilot duration suggests the CFTC wants to observe real-world behavior under various market conditions before committing to <a href="https://www.cftc.gov/PressRoom/PressReleases/9146-25" rel="nofollow">permanent rules</a>. Smart approach.



<h2 class="wp-block-heading">What Happens Next</h2>



For investors and market participants, the pilot sends a clear signal: crypto&#8217;s integration into traditional finance is accelerating. As CME Group prepares to launch <a href="https://www.benzinga.com/crypto/cryptocurrency/25/10/47999906/cme-group-to-launch-24-7-cryptocurrency-futures-trading-in-2026">24/7 trading</a> in early 2026, the confluence of continuous trading, crypto collateral acceptance, and growing <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45791691/bitcoin-adoption-makes-2025-a-watershed-year-for-crypto-bitwise-ceo-hunter-horsley-says">institutional participation</a> could create a derivatives market that operates fundamentally differently from its traditional counterpart.



The next three months will provide critical data. But one thing is already clear: the derivatives market&#8217;s treatment of crypto assets has changed permanently. My bet? If this pilot goes smoothly, we&#8217;ll see similar frameworks for securities lending and repo transactions within 18 months.



Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga&#8217;s reporting and has not been edited for content or accuracy.

CFTC Launches Crypto Collateral Pilot: Bitcoin And Ethereum Can Now Back Derivatives Trades

Twenty One Capital, Inc. <a class="ticker-link" data-ticker="XXI" data-exchange="NYSE" href="https://www.benzinga.com/quote/XXI" target="_blank" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XXI">XXI</a>)</a> began trading on the New York Stock Exchange Tuesday, Dec. 9, 2025, under the ticker XXI, after completing a <a href="https://www.benzinga.com/pressreleases/25/12/b49272017/twenty-one-to-begin-trading-on-nyse-under-ticker-xxi-with-over-43-500-bitcoin-in-holdings-after-su">business combination</a> with Cantor Equity Partners, Inc. <a class="ticker-link" data-ticker="CEP" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/CEP" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/CEP">CEP</a>)</a>.



The company is positioning itself as a Bitcoin-focused public vehicle with a large crypto treasury and plans to build services tied to the digital asset.



The deal adds a crypto-native name to the NYSE and gives investors a new, publicly listed way to access Bitcoin-related exposure.



Related: <a target="_blank" href="https://www.benzinga.com/Opinion/25/12/49242261/twenty-one-capital-set-to-make-history-on-nyse-with-4-billion-treasury" rel="noreferrer noopener">Twenty One Capital Set To Make History On NYSE With $4B Treasury</a>



Twenty One said Tether and Bitfinex hold a majority ownership stake, while SoftBank Group is a significant minority owner.



<h2 class="wp-block-heading">Management Commentary</h2>



Co-founder and CEO Jack Mallers said, &#8220;Listing on the NYSE is about giving Bitcoin the place it deserves in global markets and giving investors the best of Bitcoin: its strength as a reserve and the upside of a business built on it.&#8221;



Twenty One said it holds more than 43,500 Bitcoin, making it one of the largest public corporate holders of the cryptocurrency.



The company plans to pair that treasury with operating lines that include Bitcoin-focused capital markets advisory and lending, along with educational media aimed at supporting the adoption of Bitcoin.



The company stated that it will publish on-chain proof of its Bitcoin holdings through a public dashboard, allowing shareholders to verify their balances. Mallers said, &#8220;Bitcoin is honest money. That&#8217;s why people choose it, and that&#8217;s why we built Twenty One on top of it.&#8221;



Twenty One said the business combination included PIPE financing, including $486.5 million in senior convertible notes and about $365 million in common equity commitments.



XXI Price Action: Twenty One Capital shares were down 23.13% at $10.97 at the time of publication on Tuesday, <a target="_blank" href="https://www.benzinga.com/pro/" rel="noreferrer noopener">according to Benzinga Pro data</a>.



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Photo by Momentum studio via Shutterstock

Twenty One Capital's Bitcoin-Fueled Debut Turns Sour As Stock Tumbles

Cardano <a class="ticker-link" data-ticker="ADA" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/ADA-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>)</a> jumped 10% on Tuesday as momentum shifted toward the rollout of Midnight, a new privacy network positioning itself as a multi-chain layer for Bitcoin <a class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a>, Ethereum <a class="ticker-link" data-ticker="ETH" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/ETH-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</a>, Solana <a class="ticker-link" data-ticker="SOL" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/SOL-USD" target="_blank" rel="noopener"></a><a class="ticker-link" data-ticker="SOL" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/SOL-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</a>, and <a href="https://www.benzinga.com/money/cardano-price-prediction">other major ecosystems</a>.



<h3 class="wp-block-heading">Midnight Positions Itself As Multi-Chain Privacy Infrastructure</h3>



Midnight, <a href="https://x.com/dangambardello/status/1998048138385395864">developed</a> within the Cardano ecosystem, is preparing the release of its NIGHT token on tier-one exchanges and a staged airdrop redemption process that begins Dec. 10. 



The project attracted more than 8 million wallets across eight blockchain networks through its Glacier Drop campaign, making it one of the largest token distributions to date.



Founder Charles Hoskinson described this week as "the single biggest event in the history of Cardano."



He highlighted Midnight's ambition to serve as a cross-chain privacy and identity layer rather than a Cardano-exclusive product.



The network plans direct integrations with Bitcoin, Ethereum, Solana, XRP <a href="https://www.benzinga.com/quote/XRP-USD" target="_blank" class="ticker-link" data-ticker="XRP" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</a> and others beginning in Q3 2026.



The rollout follows a series of milestones, including the minting of the full 24 billion NIGHT supply and approval of centralized listings.



It also introduces a randomized "thaw" unlock schedule that prevents all 4.5 billion distributed tokens from entering the market at once.



<h3 class="wp-block-heading">Why Midnight Matters For ADA And The Privacy Market</h3>



Midnight's roadmap positions it as a compliance-friendly alternative to pure privacy coins, which have faced delistings across Europe, Dubai and major exchanges.&nbsp;



Users from Bitcoin, Ethereum, Solana or XRP would be able to access privacy features and pay network fees in their native tokens.



Investors are monitoring whether the airdrop unlock process generates sustained liquidity or introduces selling pressure over the next year.&nbsp;



Q1 2026 will mark the first performance test as the federated mainnet comes online and throughput targets approach 5,000 transactions per second.



<h3 class="wp-block-heading">Technical Breakout Shows ADA Momentum Returning</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="695" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/09110904/image-162-1024x695.png" alt="" class="wp-image-1204670" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/09110904/image-162-1024x695.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/09110904/image-162-300x203.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/09110904/image-162-768x521.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/09110904/image-162-1536x1042.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/09110904/image-162.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://in.tradingview.com/symbols/ADAUSD/">Cardano Price Analysis (Source: TradingView)</a>



ADA price rose 15% in two days after breaking above a downward trendline that has suppressed price since early autumn.&nbsp;



The breakout candle closed with strength, pushing ADA toward the $0.47 area and shifting short-term sentiment.



To confirm the move, Cardano must hold above $0.44.&nbsp;



A sustained close over this zone opens the path toward the 200-day EMA near $0.48 and above.&nbsp;



Failure to hold would risk returning to the prior bearish structure.



RSI has moved above 70, signaling strong buying, and MACD flipped positive with a fresh bullish cross.&nbsp;



If momentum persists, traders may target the $0.6–$0.7 region as the next key zone.



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Image: Shutterstock

ADA Up 10% As Charles Hoskinson Touts 'Single Biggest Event In Cardano History'

Bitcoin <a class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> has dropped 11.5% over the past month amid weakening ETF inflows and slowing corporate accumulation, but a repeated intraday pattern may be <a href="https://www.benzinga.com/money/bitcoin-price-prediction-oct-14">the real culprit.</a>



What Happened: According to a detailed <a href="https://x.com/BullTheoryio/status/1998085075531874443?s=20">analysis</a> by market commentator Bull Theory, Bitcoin has consistently seen sharp selloffs exactly at the U.S. market open, often erasing hours of gains within minutes. 



This behavior has been observed since early November and was also present in Q2 and Q3.



Market commentators, including ZeroHedge, suggest that high-frequency trading giant Jane Street might be driving this pattern. 



Their suspected strategy: sell aggressively at the market open, push BTC price into liquidity pockets, buy back cheaper and repeat the cycle to accumulate size.



This approach could allow a firm with deep liquidity and speed like Jane Street to build a large BTC position at discounted prices. 



They now reportedly hold around $2.5 billion worth of Bitcoin via BlackRock's IBIT ETF.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/12/49276866/bitcoin-holds-90000-as-ethereum-xrp-dogecoin-wobble-on-weak-etf-inflows">Bitcoin Holds $90,000 As Ethereum, XRP, Dogecoin Wobble On Weak ETF Inflows</a>



Why It Matters: Bull Theory notes that recent Bitcoin dips appear driven by strategic trading from large players rather than deteriorating fundamentals. Once this accumulation phase ends, BTC could resume its upward trajectory.



Crypto trader Wess <a href="https://x.com/WessWeb3/status/1998372203427922240">added</a> that Bitcoin remains pinned near $90,000 as markets brace for tomorrow's Fed decision. Traders are pricing in an 87% probability of a 25-basis points rate cut, but Jerome Powell's tone will dictate the next move.



Institutional demand remains firm, highlighted by Strategy's <a class="ticker-link" data-ticker="MSTR" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/MSTR" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MSTR">MSTR</a>)</a> latest purchase of 10,624 BTC, while retail participation remains muted. 



Ethereum <a class="ticker-link" data-ticker="ETH" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/ETH-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</a>, XRP <a class="ticker-link" data-ticker="XRP" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/XRP-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</a>, and the broader altcoin market continue trading sideways.



With the FOMC decision less than 24 hours away, volatility is expected to spike. 



A hawkish tone could trigger another drop, while a dovish Powell may spark an immediate breakout.



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Why Does Bitcoin Keep Dumping As Soon As The US Trading Session Starts?

Matt Hougan, Chief Investment Officer at Bitwise Asset Management, said in a Monday note that long-term investors should focus on the broader cryptocurrency market rather than choosing <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48953108/btc-is-worth-2-trillion-because-bitcoin-is-a-service-says-bitwises-matt-hougan">between chains like</a> Ethereum <a class="ticker-link" data-ticker="ETH" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/ETH-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</a> or Solana <a class="ticker-link" data-ticker="SOL" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/SOL-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</a>.



<h3 class="wp-block-heading">Hougan Says No One Can Predict Which Chain Wins</h3>



Hougan said he remains skeptical of claims that any single network — Ethereum, Solana or Bitcoin <a href="https://www.benzinga.com/quote/BTC-USD" target="_blank" class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> — will <a href="https://experts.bitwiseinvestments.com/cio-memos/my-highest-conviction-bet-in-crypto">dominate</a> the future of blockchain adoption.&nbsp;



He noted that even after eight years in the industry and daily discussions with founders, VCs, and researchers, he still "cannot tell you with confidence which chain will win."



He argued that outcomes depend on regulation, execution, macro conditions, and "a hundred other variables," making confident predictions unrealistic.&nbsp;



"People who claim certainty are, I think, fooling themselves," he wrote.



His comments come as investors increasingly compare performance and developer activity between Ethereum and Solana, with both ecosystems experiencing rapid growth.&nbsp;



<h3 class="wp-block-heading">The Case For Index Funds Over Chain Picking</h3>



Given the uncertainty, Hougan said his highest-conviction approach is to buy a market-cap-weighted cryptocurrency index fund rather than wager on individual blockchains.&nbsp;



The strategy gives exposure to potential winners while avoiding the risk of backing the wrong chain during a period of explosive growth.



He expects the overall cryptocurrency market to expand significantly over the next decade as stablecoins, tokenization, and decentralized finance mature.&nbsp;



Hougan cited comments from SEC Chair Paul Atkins, who told Fox Business that all U.S. equity markets could move onchain within a few years, calling it a "100,000x shift" from today's small base of tokenized stocks.



"My highest-conviction bet in crypto is this: Crypto will be far more important in 10 years than it is today," Hougan said.&nbsp;



He added that picking a chain incorrectly could result in underperformance even in a market that grows exponentially.



<h3 class="wp-block-heading">Why Hougan Believes 2026 Is A Breakout Year For Indexing</h3>



Hougan expects cryptocurrency index funds to gain significant traction in 2026 as the market becomes more complex.&nbsp;



He said index products help investors capture growth across sectors such as prediction markets, privacy technologies, digital identity, and tokenized assets without navigating rapid shifts in market leadership.



He also noted that new regulations and expanding institutional participation will accelerate the adoption of diversified index exposure.&nbsp;



"Crypto index funds are going to be a big deal in 2026," he wrote.



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Ethereum Or Solana? The Real Winner Is One You're Ignoring, Bitwise's Matt Hougan Says

Abu Dhabi becomes Web3&#8217;s deal making epicenter this week as the Global Blockchain Show launches December 10 through 11 at Space42 Arena. Over 5,000 attendees, 200 speakers, and 150 media outlets converge on the UAE capital for what organizers call the gathering place for Web3&#8217;s top 1%. But calling this just another conference misses the bigger picture. Abu Dhabi has quietly become the place where serious crypto business actually happens.



The timing tells you everything. <a href="https://www.benzinga.com/pressreleases/25/12/49250468/bc-games-stay-untamed-breakpoint-eve-party-tops-1-200-sign-ups-with-dubvision-and-mari-ferrari-head">Bitcoin MENA</a> 2025, Solana <a href="https://www.benzinga.com/quote/SOL-USD" target="_blank" class="ticker-link" data-ticker="SOL" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</a> Breakpoint, and the Global Blockchain Show all land in the same week. When that much capital and decision making power concentrates in one city, partnerships form and money moves. Yat Siu from Animoca Brands, Reeve Collins who built Tether Holdings Ltd. <a href="https://www.benzinga.com/quote/USDT-USD" target="_blank" class="ticker-link" data-ticker="USDT" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>)</a>, and Sergej Kunz from 1inch Network sharing stages mean real conversations happen between sessions.



<h2 class="wp-block-heading">How The UAE Won The Crypto Migration</h2>



Western countries spent years arguing about whether to regulate crypto. The UAE just built the infrastructure and said come on over. The results? Multiple licensed crypto firms now operate in the Emirates, up dramatically from just a few years ago. Regional blockchain initiatives attract serious capital deployment.



Abu Dhabi hosts multiple major crypto events because regulators there actually want these companies. Binance Holdings Ltd., Crypto.com Inc., and Kraken Digital Asset Exchange all planted regional headquarters in the UAE for one reason: <a href="https://www.benzinga.com/markets/cryptocurrency/25/09/47787445/crypto-isnt-the-real-threat-its-regulatory-chaos">regulatory clarity</a>. The Virtual Asset Regulatory Authority in Dubai and Abu Dhabi Global Market&#8217;s framework provide legal certainty you still cannot find in New York or Brussels.



When state investment vehicles like <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43741884/abu-dhabi-wealth-fund-buy-437-millions-worth-of-blackrocks-bitcoin-etf">Mubadala Investment</a> Company put real money into crypto infrastructure, founders pay attention. The Abu Dhabi Convention and Exhibition Bureau backing the Global Blockchain Show is not symbolic. It is the government saying we are serious about this.



<h2 class="wp-block-heading">Why This Event Actually Matters</h2>



Most crypto conferences are glorified networking parties with some panels thrown in. The Global Blockchain Show organizers took a different approach: curated matchmaking systems, pre bookable meeting tables, exclusive investor zones where capital holders and builders can actually talk without interruption.



The speaker roster reflects serious institutional weight. Andy Tang from Draper Dragon has funded over 15 unicorn companies in blockchain and AI. Yat Siu pioneered NFT gaming through Animoca Brands and built open metaverse infrastructure that actually works. Reeve Collins did not just watch the stablecoin revolution. He helped create it by co founding Tether.



Topics span everything crypto needs to crack in 2026: tokenizing real world assets, DeFi protocols that institutions will actually use, AI blockchain mashups, Web3 gaming economies, corporate adoption paths, and crucially, regulatory frameworks that function instead of just existing on paper. Integration across these verticals will define who wins next year.



<h2 class="wp-block-heading">The Bridge To Emerging Markets</h2>



Here is what matters for readers in Lagos, Manila, or Buenos Aires. Abu Dhabi sitting between Europe, Asia, and Africa creates access points that Western gatekeepers blocked for years.



Kenyan payment startups can pitch UAE VCs without visa nightmares. Indonesian gaming studios meet Middle Eastern family offices exploring Web3 bets. Argentine developers building inflation hedges connect with stablecoin providers operating legally in a real financial center. The Global Blockchain Show puts these worlds in the same room.



The Middle East&#8217;s own crypto adoption wave amplifies this. <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45138065/uae-sets-global-benchmark-for-crypto-banking-integration-amina-banks-rohan-misra-says">Regulatory frameworks</a> continue evolving across the region. Egypt runs CBDC pilots. Jordan and Bahrain craft blockchain strategies. Abu Dhabi positioned itself at this regional transformation&#8217;s center, becoming the bridge between Western money, Asian builders, and Middle Eastern adoption.



<h2 class="wp-block-heading">What Happens After The Conference Ends</h2>



This week&#8217;s concentration of events creates momentum extending well past December. Partnerships announced now shape 2026 roadmaps. VCs meeting founders this week deploy capital in Q1. Protocols showing working infrastructure land enterprise pilots in January.



For broader crypto markets, Abu Dhabi&#8217;s rise signals that regulatory arbitrage determines who thrives through 2026. Companies that relocated early to friendly jurisdictions now operate with flexibility competitors cannot match. The Global Blockchain Show displays this strategic positioning in real time.



The Middle East is not hosting conferences for show. It is building regulatory and infrastructure foundations that determine where crypto innovation actually occurs. This week in Abu Dhabi, you can watch the industry&#8217;s center shift eastward in real time. Smart money is paying attention.



Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga&#8217;s reporting and has not been edited for content or accuracy.

Global Blockchain Show Abu Dhabi: Why The Middle East's Crypto Capital Is Where Deals Get Made In 2026

The <a href="https://www.benzinga.com/crypto/cryptocurrency/25/12/49274880/bernie-moreno-says-crypto-bill-talks-frustrating-but-opposes-settling-for-bad-deal-to-placate-people-who-dont-understand">Commodity Futures Trading Commission</a> on Monday <a href="https://www.coindesk.com/policy/2025/12/08/cftc-launches-digital-assets-pilot-allowing-bitcoin-ether-usdc-as-collateral">launched</a> a first-of-its-kind U.S. program, enabling approved futures commission merchants to accept Bitcoin <a class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a>, Ethereum <a href="https://www.benzinga.com/quote/ETH-USD" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/ETH-USD" target="_blank" rel="noreferrer noopener"></a><a class="ticker-link" data-ticker="ETH" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/ETH-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</a>, and payment stablecoins such as USDC as collateral for futures and swaps. 



<h3 class="wp-block-heading">CFTC Approves Bitcoin, Ether And Stablecoins As Margin Collateral</h3>



The <a href="https://www.cftc.gov/PressRoom/PressReleases/9146-25">announcement</a> was made by Acting Chair Caroline Pham.



Pham said the program provides "clear guardrails" for tokenized collateral and expands oversight of customer asset protection.&nbsp;



Approved firms must follow strict custody and reporting rules, including weekly disclosures during the first three months.



The agency also issued updated guidance for tokenized real-world assets such as U.S. Treasuries and withdrew a 2020 advisory that had restricted the use of digital assets as collateral.&nbsp;



The move follows the GENIUS Act, which overhauled federal treatment of tokenized assets and enabled new forms of market participation.



Coinbase Inc. <a href="https://www.benzinga.com/quote/COIN" target="_blank" class="ticker-link" data-ticker="COIN" data-exchange="NASDAQ" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/COIN">COIN</a>)</a> Chief Legal Officer Paul Grewal said the "unlock" aligns with Congress's intentions under the updated framework.



<h3 class="wp-block-heading">Why The Pilot Matters For Market Infrastructure</h3>



The program marks the first formal U.S. allowance for tokenized collateral in major regulated markets.&nbsp;



It also introduces a path for firms to hold digital assets in segregated customer accounts under limited no-action relief from the CFTC.



In practice, a regulated intermediary could now accept Bitcoin as margin for a commodity swap, while the CFTC supervises custody, valuation and capital risk controls behind the scenes.&nbsp;



The move widens Bitcoin's role inside traditional finance and may encourage broader institutional trading activity.



<h3 class="wp-block-heading">Bitcoin Technicals Show Failed Breakout As Sellers Hold Control</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="695" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/09072400/image-160-1024x695.png" alt="" class="wp-image-1204232" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/09072400/image-160-1024x695.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/09072400/image-160-300x203.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/09072400/image-160-768x521.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/09072400/image-160-1536x1042.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/09072400/image-160.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://in.tradingview.com/symbols/BTCUSD/">BTC Price Action (Source: TradingView)</a>



Bitcoin remains stuck in a weak zone despite the regulatory catalyst.&nbsp;



BTC attempted a breakout above the falling trendline yesterday, but failed to sustain momentum, slipping back under the structure within a day. 



A breakout that cannot hold even one or two sessions is generally treated as weak.



The 20- and 50-day EMAs cluster near $90,400–$91,000, forming a resistance band alongside the 0.382 Fibonacci level at $90,799.&nbsp;



BTC has rejected this area multiple times.&nbsp;



A close above $93,500 would be required to shift trend structure and signal real improvement.



Moreover, the Supertrend is red, and SAR markers sit above the price.&nbsp;



Until these flip, upside attempts are considered counter-trend moves.



<h3 class="wp-block-heading">Key Levels BTC Traders Are Watching</h3>



The $90,000 region is the main battleground as traders test the strength of the current structure.&nbsp;



Bitcoin&#8217;s breakdown below $90,000 exposes $88,500 support, and losing that level risks a fast drop toward $86,800 and then $84,900 due to thin structure underneath.



Upside improves only if Bitcoin holds above $93,500 — the level that would invalidate the current descending pattern and open the path toward the next resistance area around $97,100.



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Image: Shutterstock

Bitcoin Gets Historic Regulatory Greenlight—So Why's BTC Stuck At $90,000?

Shiba Inu <a class="ticker-link" data-ticker="SHIB" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/SHIB-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</a> has dropped 14% over the past month even as burn rates rise and whale activity have reached the highest <a href="https://www.benzinga.com/money/shiba-inu-price-prediction">levels since June</a>.  



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Ticker</td><td>Price</td><td>Market Cap</td><td>7-Day Trend</td></tr><tr><td>Shiba Inu</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.058543</td><td>$5.03 billion</td><td>+6.7%</td></tr><tr><td>Dogecoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.1408</td><td>$22.8 billion</td><td>+2.8%</td></tr><tr><td>Pepe</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>)</td><td>$0.054606</td><td>$1.94 billion</td><td>+14%</td></tr></tbody></table></figure>



Trader Notes: On-chain analytics platform Santiment <a href="https://x.com/santimentfeed/status/1998188098312929541">reports</a> that Shiba Inu may be heading into a period of significant volatility, driven by a spike in large whale transactions. 



SHIB recorded 406 transactions over $100,000 today, a massive jump from fewer than 50 on June 6, 2025.



This rise coincides with a surge in SHIB moving onto centralized exchanges.



Over the past 24 hours, exchange reserves increased by 1.06 trillion SHIB, bringing total holdings on exchanges to 136.95 trillion SHIB.



The inflows suggest large holders are positioning for major trades, typically a precursor to volatile price swings.



Statistics: According to Shibburn, SHIB's burn rate spiked 248% in the last 24 hours, permanently removing 14.3 million SHIB from circulation. Rising burn activity reduces supply over time, a factor that can support bullish momentum.



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Image: Shutterstock

Shiba Inu Gains 7% In A Week, But Busy Whales Spell Danger Ahead

Bitcoin trades around $90,000, with market sentiment softening as ETF inflows weaken; liquidations stand at $175.12 million over the past 24 hours.



Bitcoin ETFs saw $60.5 million in net outflows on Monday, while Ethereum ETFs reported $35.5 million in net inflows.



Crypto analyst Michael van de Poppe <a href="https://x.com/CryptoMichNL/status/1998319563541217638">said</a> Bitcoin remains in a bullish structure for now, with the next directional move hinging on the U.S. market open. 



If BTC sees its typical early-session correction, it may present a dip-buying opportunity. His base case is a push toward $100,000 before Christmas, setting up a strong year-end rally.



Crypto trader Jelle <a href="https://x.com/CryptoJelleNL/status/1998315225800376355">highlighted</a> the $91,000–$93,000 resistance zone as the next crucial test. With two straight weeks of higher lows, he sees growing momentum for a breakout. If BTC clears this range, $100,000 becomes the next major target.



Crypto chart analyst Ali Martinez <a href="https://x.com/ali_charts/status/1998133733468057974">noted</a> Solana remains stuck in its $124–$145 range, currently sitting right in the middle, "one of the least attractive areas" to open new positions.



Ted Pillows <a href="https://x.com/TedPillows/status/1998298517803253778">said</a> Ethereum continues to defend the $3,100 level, supported by strong bids between $3,000–$3,100. 



Key resistance remains at $3,300–$3,400, and a breakout above that zone could trigger a move toward $3,700–$3,800 in the coming weeks.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td> Cryptocurrency</td><td>Ticker</td><td>Price</td></tr><tr><td>Bitcoin</td><td><a href="https://www.benzinga.com/quote/BTC" target="_blank" class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a></td><td>$90,557</td></tr><tr><td>Ethereum</td><td><a href="https://www.benzinga.com/quote/ETH" target="_blank" class="ticker-link" data-ticker="ETH" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</a></td><td>$3,130</td></tr><tr><td>Solana</td><td><a href="https://www.benzinga.com/quote/SOL" target="_blank" class="ticker-link" data-ticker="SOL" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</a></td><td>$132.68              </td></tr><tr><td>XRP</td><td><a href="https://www.benzinga.com/quote/XRP" target="_blank" class="ticker-link" data-ticker="XRP" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</a></td><td>$2.05</td></tr></tbody></table></figure>



The meme-coin market is trading relatively flat, up 0.8% at a $47 billion market cap.



Chartist Javon Marks <a href="https://x.com/JavonTM1/status/1998059640198668504">said</a> Dogecoin remains positioned for a major technical breakout, potentially targeting new all-time highs, over 404% above current levels.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Ticker</td><td>Price</td></tr><tr><td>Dogecoin</td><td><a href="https://www.benzinga.com/quote/DOGE" target="_blank" class="ticker-link" data-ticker="DOGE" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</a></td><td>$0.1401</td></tr><tr><td>Shiba Inu</td><td><a href="https://www.benzinga.com/quote/SHIB" target="_blank" class="ticker-link" data-ticker="SHIB" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</a></td><td>$0.058517</td></tr></tbody></table></figure>



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Bitcoin Holds $90,000 As Ethereum, XRP, Dogecoin Wobble On Weak ETF Inflows

Sen. Bernie Moreno&nbsp;(R-Ohio) voiced his dissatisfaction on Monday regarding the slow progress of the negotiations on the cryptocurrency market structure bill.



<h2 class="wp-block-heading">&#8216;No Deal Is Better Than A Bad Deal&#8217;</h2>



Speaking at the Blockchain Association Policy Summit in Washington, D.C., Moreno described the process as &#8220;decently frustrating&#8221; in the last couple of weeks.



&#8220;We can&#8217;t let this thing keep going on. We have been at this for too long,&#8221; Moreno, who sits on the Senate Banking Committee, said.



The Republican lawmaker stressed that he doesn&#8217;t want to promulgate a &#8220;bad bill&#8221; just for the sake of passing something, adding that &#8220;no&nbsp;deal is better than a&nbsp;bad deal.&#8221;



&#8220;We want to make it better. But we can&#8217;t end up in a situation where we try so much to placate people who honestly have no idea what they&#8217;re talking about,&#8221; Sanders said.



See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/crypto/cryptocurrency/25/12/49272947/anthony-scaramucci-praises-michael-saylors-really-smart-approach-that-will-strengthen-bitcoin-focused-strategys-balance-sheet">Anthony Scaramucci Praises Michael Saylor&#8217;s &#8216;Really Smart&#8217; Approach That Will &#8216;Strengthen&#8217; Bitcoin-Focused Strategy&#8217;s Balance Sheet</a>



<h2 class="wp-block-heading">Market Structure Bill To Be Passed In 2026?</h2>



The Senate Agriculture Committee&nbsp;<a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48776513/us-senate-discloses-landmark-crypto-market-structure-bill-eyes-passage-by-late-2025" target="_blank" rel="noreferrer noopener">released a bipartisan&nbsp;draft</a>&nbsp;of the legislation&nbsp;earlier this month, outlining clearer oversight roles for the CFTC and SEC in the cryptocurrency market through a unified federal framework.



Lawmakers expect the bill to advance through committees by late 2025, with a full Senate vote likely in early 2026 as part of broader government funding negotiations.



The House and Senate have different versions of the bill. The <a href="https://www.benzinga.com/crypto/25/07/46480331/the-us-just-took-a-big-step-toward-crypto-regulation-heres-what-the-clarity-act-actually-says">CLARITY Act</a>, as it is known in the lower chamber, passed with bipartisan support earlier in July.



<h2 class="wp-block-heading">Warren&#8217;s Opposition</h2>



Sen. Elizabeth Warren (D-Mass.), ranking member of the Senate Banking Committee, has been a <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45399468/elizabeth-warren-calls-out-trump-linked-stablecoin-as-a-national-security-risk-hes-cashing-in-on-foreign-crypto-deals" target="_blank" rel="noreferrer noopener">persistent critic</a> of the cryptocurrency bills, including the <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46508890/trump-signs-genius-act-ending-biden-era-crypto-probes-and-backing-industry-titans">GENIUS Act</a>, particularly due to the Trump family's ventures, such as the Official Trump <a href="https://www.benzinga.com/quote/TRUMP-USD" target="_blank" class="ticker-link" data-ticker="TRUMP" data-exchange="CRYPTO" rel="noopener">(CRYPTO: TRUMP)</a> meme coin and the USD1 <a href="https://www.benzinga.com/news/politics/25/07/46410017/elizabeth-warren-says-convicted-felon-leveraged-trump-familys-crypto-interests-for-pardon-senator-makes-scathing-comments-on-binance-co-founder" target="_blank" rel="noreferrer noopener">dollar-pegged stable coin</a>.



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Blockchain Association Policy Summit 2025 - December 8, 2025" width="500" height="281" src="https://www.youtube.com/embed/4H22IZBV5Js?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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