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Robinhood is likely to generate more revenue from prediction markets than Coinbase, according to an analysis by global investment bank Mizuho Securities. CoinDesk reports that Mizuho's forecast is based on a survey of 230 users across both platforms. The survey found that approximately 50% of Robinhood users plan to allocate new capital to prediction market trading, compared to just 37% of Coinbase users. Mizuho stated this indicates a stronger propensity among Robinhood's user base to invest in this new market, suggesting a higher potential for revenue. Consequently, Mizuho has raised its revenue forecast for Robinhood. Conversely, the bank has lowered its price target for Coinbase, citing concerns that the prediction market service could cannibalize existing cryptocurrency trading activity.

Danal, the operator of Paycoin (PCI), has joined the Alliance Program of USD Coin (USDC) issuer Circle, becoming the first South Korean payment company to do so, the Electronic Times reported. Circle launched its Alliance Program in November 2023 to develop an internet-based financial system. The two companies held informal talks earlier this year to discuss potential cooperation on stablecoin services in the South Korean market.

Approximately $300 billion worth of previously dormant BTC has entered the market this year, Wu Blockchain reported, citing K33 Research. The outlet noted that selling pressure from long-term holders over the past 30 days has been the strongest in the last five years. While demand from spot BTC ETFs and institutional crypto investors had previously absorbed a significant portion of this sell volume, the report explained that the situation has changed. A recent decline in ETF inflows, coupled with lower derivatives trading volume and retail investor participation, is now exposing an unstable market directly to the selling pressure from these long-term holders.

U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce has announced that she is seeking market feedback on cryptocurrency trading on National Securities Exchanges (NSEs) and Alternative Trading Systems (ATSs). The inquiry is related to a recent FAQ published by the SEC's Division of Trading and Markets, which focuses on the trading of cryptocurrencies deemed securities and the framework for trading and clearing pairs of security and non-security cryptocurrencies. Peirce stated that the SEC is prepared to support platforms that list legitimate trading pairs, emphasizing the need for regulations that protect investors and maintain fair markets without stifling innovation.

The U.S. Securities and Exchange Commission (SEC) has issued new guidelines for broker-dealers regarding the custody of digital asset securities. The core of the guidance, under Rule 15c3-3, is that if a broker-dealer meets certain requirements, digital asset securities held on behalf of customers will be considered to be in the broker-dealer's physical possession for compliance purposes. The SEC stated that the move is intended to resolve uncertainty surrounding the application of federal securities laws to digital assets. The commission added that it is continuing to review issues related to broker-dealer custody of these assets and is providing this guidance as an interim step in response to requests from market participants.

CoinMarketCap's Altcoin Season Index stands at 18, unchanged from the previous day. The index measures the performance of the top 100 cryptocurrencies by market capitalization, excluding stablecoins and wrapped coins, against Bitcoin. An altcoin season is indicated if 75% of these coins outperform Bitcoin over a 90-day period, with a score closer to 100 signifying a stronger trend. Conversely, a lower score suggests a Bitcoin season.

Bitget has announced its year-end "King of Trading 2025" (KOT) competition, featuring a total prize pool of 1.7 million USDT. Team creation and registration will remain open until Jan. 1. To be eligible, participants must hold assets worth at least $100 in their Bitget futures account. Those who join the team competition will be automatically entered to win a range of additional prizes, including rewards from the VIP futures individual competition, such as a Rolex watch, a luxury hotel voucher, and a gold bar. Other benefits include mission airdrops of up to $8,855 and VIP upgrade rewards of up to $3,450 per person.

The U.S. Federal Reserve has decided to officially withdraw a guideline that had restricted some banks from engaging in cryptocurrency business, reported Eleanor Terrett, host of Crypto in America. The guideline primarily limited market entry for banks not covered by Federal Deposit Insurance Corporation (FDIC) deposit insurance. The Fed had previously cited this guideline as the basis for denying a master account application from the crypto-focused Custodia Bank. In a statement, Michelle Bowman, the Fed's Vice Chair for Supervision, explained that new technologies can enhance bank efficiency and provide better products and services to customers. She added that by establishing a path for responsible and innovative offerings, the Board is helping the banking system operate efficiently while remaining safe and sound.

Ethereum's network activity has fallen to a one-year low, signaling a significant departure of retail investors from the market, according to an analysis by CryptoQuant contributor CryptoOnchain. The analyst noted that the number of active Ethereum sending addresses has dropped to around 170,000, which suggests retail participants have either exited or are currently unwilling to trade. Historically, retail activity tends to decline after prolonged periods of volatility and price corrections, indicating weakened short-term confidence. From an on-chain perspective, such low network activity often coincides with the exhaustion of selling pressure. While this may mean immediate downward pressure has eased, it also points to a lack of new demand. The analyst explained that this situation could limit short-term upside, as retail investors are typically the primary drivers of momentum during the initial phases of a market rebound.

The Crypto Fear & Greed Index from data provider Alternative rose one point from the previous day to 17, continuing a state of extreme fear. The index measures market sentiment on a scale of 0, indicating extreme fear, to 100, representing extreme optimism. It is calculated based on volatility (25%), market volume (25%), social media mentions (15%), surveys (15%), Bitcoin dominance (10%), and Google search trends (10%).

South Korean crypto exchange Upbit has announced a temporary suspension of deposits and withdrawals for digital assets on the Polygon network. The measure is in response to an emergency network upgrade following a halt in block production. Affected assets include POL and GMT.

Coinbase has launched a stock trading service, allowing users to trade hundreds of stocks on its app using U.S. dollars or USDC, CoinDesk reported. The company plans to add thousands of stocks and ETFs within the next few months. Additionally, Coinbase has introduced a prediction market based on Kalshi, with plans to launch the service in the U.S. market. These moves are part of a broader strategy to offer a comprehensive range of trading services, which also includes launching a DEX trading feature for Solana-based tokens, expanding derivatives support, introducing an AI-powered asset management tool, and increasing the number of countries supported by its Base network.

Coinbase has received final approval from India's Competition Commission (CCI) to acquire a stake in cryptocurrency exchange CoinDCX, Cointelegraph reported. However, both companies have denied reports that Coinbase would fully acquire the Indian exchange. Meanwhile, Coinbase has resumed user registrations in India and plans to support direct cryptocurrency purchases with the local currency, the rupee, starting in 2026.

The Jito (JTO) Foundation, a Solana-based liquid staking protocol, plans to return to the United States due to an improving regulatory environment for cryptocurrencies, Cointelegraph reported. The foundation had previously moved its operations overseas, citing legal risks posed by what it described as a hostile and uncertain U.S. regulatory landscape.

Digital Wealth Partners (DWP), a registered investment advisory firm specializing in digital assets, has launched an algorithmic trading service for XRP holders, CoinDesk reported. The service targets high-net-worth individuals and accredited investors and can be managed within retirement accounts to provide tax advantages. Crypto bank Anchorage Digital will provide custody for the assets.

California Governor Gavin Newsom has criticized President Donald Trump, accusing him of colluding with criminals, including prominent figures in the cryptocurrency industry, CoinDesk reported. The official website for the state of California has launched a page tracking individuals it describes as Trump's top 10 criminal associates. The list features Binance founder Changpeng Zhao, Silk Road founder Ross Ulbricht, and the co-founders of BitMEX, all of whom have received presidential pardons or commutations from Trump. Newsom is widely seen as a potential future presidential candidate for the Democratic Party and a key political rival to Trump on social media.

Former Alameda Research CEO Caroline Ellison has been transferred from prison to a halfway house, Cointelegraph reported. She was previously sentenced to two years for her role in aiding the crimes at FTX, with a scheduled release date of Feb. 20, 2026.

The three major U.S. stock indices closed lower. The S&P 500 fell 1.16%, the Nasdaq Composite dropped 1.81%, and the Dow Jones Industrial Average declined by 0.47%.

Brazil's stock exchange, B3, plans to launch a tokenization platform and a proprietary stablecoin next year, CoinDesk reported. The platform is designed to enhance asset management efficiency by sharing liquidity with traditional financial markets. To support the settlement and clearing of these tokenized assets, B3 will issue a stablecoin pegged to the Brazilian real. The exchange is also developing crypto derivatives, including options for BTC, ETH, and SOL, as well as contracts based on cryptocurrency price volatility.

Acting U.S. Commodity Futures Trading Commission (CFTC) Chair Caroline Pham is set to join crypto payments firm MoonPay as its Chief Legal and Administrative Officer (CLAO), Crypto in America reported. In her new role, she will oversee the company's policy and regulatory strategy. Pham's term at the CFTC is scheduled to conclude this week, coinciding with the U.S. Senate's confirmation vote for CFTC Chair nominee Michael Selig.

Major exchanges have seen $102 million worth of futures liquidated in the past hour. In the past 24 hours, $507 million worth of futures have been liquidated.

World Liberty Financial announced that its initiative to promote the stablecoin USD1 has achieved initial success over the past three weeks. The announcement follows the passage of a proposal to use a portion of the WLFI treasury for this purpose. Key achievements include a $10 million buyback of WLFI tokens using USD1 and the launch of a USD1 trading pair on Binance.

Robinhood announced the listing of PIPPIN.

According to CoinNess market monitoring, BTC has fallen below $86,000. BTC is trading at $85,969.24 on the Binance USDT market.

Julio Moreno, head analyst at CryptoQuant, stated that the debate over Bitcoin's four-year cycle is ongoing. He noted that he had previously written on the topic before last year's halving, arguing that the key to the cycle is not the halving event or price performance, but rather the wave of increasing demand. Moreno believes the cycle has already passed its peak and is now descending toward a low point.