Summary
gm, Nearly $1.8 billion in leveraged positions were liquidated in the largest long liquidation event of 2025. While Bitcoin experienced a modest decline of 2.3% to around $112,000, altcoins suffered more substantial losses, with Ethereum dropping over 6% and Dogecoin falling nearly 10%. Amid this downturn, several institutional developments emerged, including Metaplanet becoming the fifth-largest corporate Bitcoin holder after acquiring 5,419 BTC for $632 million, and AgriFORCE announcing a pivot to build an Avalanche treasury with a $550 million capital raise, causing its stock to surge over 200%. Additionally, the U.S. and UK announced the formation of a joint task force aimed at aligning crypto regulations and facilitating cross-border investments, potentially enhancing the UK's position in the global crypto landscape.

News Headlines
🔄 PayPal Ventures Invests in Stable to Expand PYUSD Reach

  • PayPal Ventures has invested in Stable, a new layer 1 blockchain network, to integrate PayPal USD (PYUSD) stablecoin and enhance its cross-chain utility.
  • The collaboration aims to improve stablecoin transaction speed, liquidity, and cross-border capabilities, particularly targeting emerging markets where dollar-based payments can have significant impact.

💻 BitVM Bridge and YBTC Go Live, Enhancing Bitcoin DeFi Capabilities

  • Bitlayer has launched the BitVM Bridge Mainnet, enabling off-chain computation verification for Bitcoin without requiring a fork.
  • YBTC, a 1:1 Bitcoin-backed token secured through trust-minimized mechanisms, allows Bitcoin holders to actively participate in DeFi by staking, lending, and providing liquidity.

⚡ Tom Lee's BitMine Raises $365M to Expand ETH Treasury

  • BitMine secured $365 million through a premium stock sale to expand its Ethereum holdings, which currently represent over 2% of ETH's total supply.
  • The company aims to control 5% of the total ETH supply, with the stock sale occurring at a 14% premium above recent market prices, indicating strong investor confidence.

👋 Rainbow Wallet Announces RNBW Token Launch in Q4 2025

  • Ethereum wallet provider Rainbow announced the upcoming launch of its native token $RNBW in Q4 2025, which will enhance the existing points program and user experience.
  • The launch comes with significant app upgrades including real-time pricing, instant transaction updates, and integrated charts, alongside plans for perpetual futures trading via Hyperliquid.

📱 Plasma Launches First Stablecoin-Native Neobank for Emerging Markets

  • Plasma has introduced Plasma One, the first neobank built entirely around stablecoins, offering payments, remittances, and yield services to nearly 200 million users across Asia.
  • The platform features zero-fee USDT transfers, 4% cash back on card purchases, and 10%+ yields on stablecoin balances, targeting emerging markets with limited access to US dollar banking services.

Market Metrics

Fundraising & VC
1. Bitlight Labs (Series A, $9.6M) - RGB protocol infrastructure on Bitcoin and Lightning Network
2. Coop Records (Seed, $4.5M) - On‑chain music label
3. Stable (Strategic, Undisclosed) - Layer 1 blockchain designed for stablecoin-native applications

Regulatory
🌐 UAE Signs Global Crypto Tax Reporting Agreement

  • The UAE has signed the OECD's Crypto-Asset Reporting Framework (CARF) agreement, committing to implement automatic crypto tax reporting by 2027 with information exchanges starting in 2028.
  • An eight-week public consultation has been launched to gather industry feedback on the impact and compliance requirements of the new rules.

🏛️ Democrats Signal Support for Bipartisan Crypto Legislation

  • Twelve Democratic senators have expressed willingness to collaborate with Republicans on comprehensive digital asset regulatory framework legislation.
  • The statement emphasizes the importance of preventing corruption, abuse, and illicit finance while establishing clear rules for the crypto market.

💰 US Lawmakers Push for Crypto in Retirement Plans

  • Nine US lawmakers have urged SEC Chair Paul Atkins to expedite the executive order integrating cryptocurrencies into US 401(k) retirement plans.
  • The lawmakers argue that allowing modest allocations to crypto in retirement funds could help 90 million Americans diversify their investments and potentially bring $93 billion into the crypto market.

⚖️ China Restricts RWA Tokenization in Hong Kong

  • China's Securities Regulatory Commission has directed certain brokerages to halt their real-world asset (RWA) tokenization activities in Hong Kong.
  • At least two brokerages have been cautioned against pursuing RWA business outside of mainland China due to concerns about risk management.

🔒 Crypto.com Faces Legal Challenges Over Data Breach

  • Over 69,000 Crypto.com users had sensitive information stolen in a data breach, including ID images and social security numbers.
  • Multiple lawsuits are in progress, with many cases likely moving to arbitration due to user agreement clauses, while others target third-party service provider TaskUs.

Technical Analysis
Bitcoin - Bitcoin has broken the floor of the rising trend channel in the short term, which indicates a weaker initial rising rate. The currency has support at points 107700 and resistance at points 117600. Volume has previously been high at price tops and low at price bottoms. Volume balance is also positive, which weakens the trend break. The currency is overall assessed as technically positive for the short term.

Ethereum - Ethereum is within an approximate horizontal trend channel in the short term. This indicates that investors are uncertain and waiting for signals of further direction. A break upwards will be a positive signal, while a break downwards will be a negative signal. The currency has built a double top formation and given signal of further fall to 3878. On reactions back, there is now resistance at 4298. The currency has broken down through support at points 4300. This predicts a further decline. The currency is overall assessed as technically negative for the short term.