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According to Odaily, Citadel Securities recently submitted a 13-page letter to the SEC advocating for stricter regulations on decentralized finance (DeFi) protocols handling tokenized securities. In response, the DeFi industry issued its own letter last Friday, challenging Citadel Securities' arguments as "unfounded." The new letter to the SEC, signed by DeFi Education Fund, Andreessen Horowitz (a16z), DigitalChamber, Orca Creative, J.W. Verret, and Uniswap Foundation, stated, "While we share Citadel Securities' goals of investor protection, market order, and the integrity of the national market system, we disagree that achieving these goals always requires registration like traditional SEC intermediaries, nor do we agree that these requirements cannot be met through well-designed on-chain markets in certain cases." Citadel Securities argues that DeFi protocols might operate as exchanges or brokers requiring registration and regulation. However, under U.S. President Donald Trump's administration, the SEC's new leadership has been seeking more policy flexibility for the crypto industry. White House crypto advisor Patrick Witt also expressed support on social media platform X for "the necessity of protecting software developers and DeFi." A spokesperson for Citadel Securities commented via email, "As detailed in our comment letter, Citadel Securities strongly supports tokenization and other innovations that can strengthen America's leadership in digital finance, but this does not mean sacrificing stringent investor protection measures, which make the U.S. stock market the global gold standard." The DeFi alliance's response claimed that Citadel Securities' letter contained "multiple factual misstatements and misleading claims." Jennifer Rosenthal, a spokesperson for DeFi Education Fund, stated that the company is safeguarding its commercial interests. Rosenthal remarked, "Citadel Securities questions the existence of a technology that threatens its business and significant market share, which aligns with its interests."

According to PANews, Galaxy, a digital asset management and infrastructure company, has announced plans to establish a new office and business division in Abu Dhabi. This move is part of Galaxy's strategy to enter the Middle Eastern market. In a statement released on Wednesday, Galaxy revealed that it will set up an entity under the registration authority of Abu Dhabi Global Market (ADGM), the region's international financial center. Mike Novogratz, founder and CEO of Galaxy, stated that this initiative is part of the company's efforts to expand existing partnerships and business strategies. Prior to its Middle Eastern expansion, Galaxy reported its financial results for the third quarter of 2025, with net income reaching $505 million and equity valued at $3.2 billion.

According to Foresight News, the film THE MUSICAL, developed and funded by the on-chain movie project Sequel, has been selected for the competition section of the Sundance Film Festival. The movie will premiere on January 25 in the U.S. Dramatic Competition category.

According to ChainCatcher, Polygon Foundation CEO Sandeep Nailwal has revealed that the recent Madhugiri hard fork upgrade on the Polygon network has increased its on-chain transaction processing capacity by 40%, reaching 1,400 transactions per second (TPS).Sandeep Nailwal stated that the team has outlined a clear technical roadmap, aiming to boost TPS to 5,000 within the next six months, positioning Polygon as one of the highest throughput blockchain networks in the industry. Additionally, a second phase upgrade is planned to further increase TPS to 100,000 within 12 to 24 months, with the goal of establishing it as the preferred blockchain platform for global payments.

According to PANews, Ondo Finance announced on the X platform that its stock tokenization platform derives liquidity primarily from the stock market, specifically from the Nasdaq and the New York Stock Exchange, rather than from Automated Market Maker (AMM) pools. This approach minimizes slippage during large-scale transactions. Each stock token is fully backed by custodial shares, utilizing a model similar to stablecoin reserves.

According to Odaily, Uniswap founder Hayden Adams has expressed concerns over efforts by some traditional financial institutions to have the U.S. Securities and Exchange Commission (SEC) regulate decentralized protocol software developers as centralized intermediaries. Adams highlighted that these institutions, which were involved in the controversial Constitution DAO auction, are now arguing that DeFi protocols fail to meet the 'fair access' standard.Adams argued that the notion of 'fair access' is being used as a justification for increased regulation. He emphasized that open-source, peer-to-peer technology inherently lowers the barriers to liquidity creation, fundamentally differing from traditional market-making models.

According to PANews, data from DeFiLlama indicates that the total value locked (TVL) in the DeFi ecosystem has experienced a substantial decrease. From a peak of nearly $172 billion in early October 2025, the TVL has fallen by $57.7 billion, reaching approximately $114.26 billion. This represents a decline of about 34%.

According to Foresight News, the community has contributed to the Animoca Hong Kong Relief Fund through the Flap platform's tax token mechanism. The transaction fee income from this token is directed to the relief fund's EVM address. Currently, 77 BNB have been donated to the fund via the Flap platform.The Animoca Hong Kong Relief Fund is a nonprofit charitable initiative launched by Animoca, inviting the crypto community to aid in the relief efforts for the Hong Kong fire incident. Animoca has pledged to convert the received donations into Hong Kong dollars and donate 100% of the proceeds to the Hong Kong Red Cross to support rescue and recovery operations.

According to BlockBeats, investment firms have poured nearly $25 billion into cryptocurrency companies in 2025, marking a more than 150% increase from the previous year and surpassing market expectations.Leading institutions involved in these transactions include tech-focused Paradigm and Sequoia Capital, along with Wall Street giants BlackRock, JPMorgan, and Goldman Sachs. Data from DefiLlama indicates that the most popular sectors are centralized trading platforms, which raised $4.4 billion, prediction markets with $3.2 billion, and DeFi platforms securing $2.9 billion.Jordan Knecht, Head of Institutional Strategy at blockchain services company GlobalStake, emphasized that projects attracting capital must meet regulatory transparency, operational resilience, and be able to integrate with traditional financial institutions and their standards. In a volatile market, investors prefer to establish compliance-first sustainable business models to lay a long-term foundation for the asset class.Charles Chong, Vice President of Strategy at crypto-native consulting firm BlockSpaceForce, noted that the environment for crypto startups is evolving, with funds flowing towards mature players whose revenue and unit economic models can support valuations. This shift is not a sign of market weakness but rather an indication of market normalization and maturation, with funding becoming more rational, fundamentals-focused, and less driven by speculative reflexivity.Georgii Verbitskii, founder of crypto investment company TYMIO, observed that the crypto market is following the same pattern as other technological cycles, where capital initially flows into underlying infrastructure before moving towards consumer-facing applications.

According to ChainCatcher, Tianfeng Securities has announced that the China Securities Regulatory Commission (CSRC) has issued a 'Notice of Investigation' due to alleged violations related to information disclosure and illegal financing. The CSRC has decided to investigate Tianfeng Securities based on the Securities Law and Administrative Penalty Law.A non-bank analyst suggests that if Tianfeng Securities is ultimately subjected to administrative penalties, it could negatively impact the company's business operations and financing, potentially leading to liquidity challenges. Previously, Tianfeng Securities disclosed that its wholly-owned subsidiary, Tianfeng International Securities and Futures Limited, had received approval from the Hong Kong Securities and Futures Commission to obtain a third-class license related to virtual assets, allowing it to offer virtual asset trading services through comprehensive account arrangements.

According to Odaily, São Paulo, Brazil's economic hub, has announced the launch of a pilot project utilizing blockchain technology to provide microloans to farmers. The initiative aims to enhance the efficiency and transparency of credit distribution while reducing administrative costs. This effort is designed to facilitate easier access to financial support for agricultural producers, particularly small and medium-sized farmers. This move signifies a further exploration by local Brazilian authorities into applying Web3 technology to the real economy and improving the agricultural financing environment.

According to Odaily, Tether, the issuer of the world's largest stablecoin USDT, has confirmed the suspension of its Bitcoin mining operations in Uruguay due to increasing energy costs. Despite this pause, Tether remains committed to its long-term projects in Latin America.This confirmation comes just weeks after Tether denied reports of withdrawing from Uruguay. Earlier reports indicated a $4.8 million debt dispute between Tether and Uruguay's state-owned power company, UTE.Local news outlet El Observador reported on Tuesday that Tether has officially informed Uruguay's Ministry of Labor about the suspension of mining activities and the dismissal of 30 employees. Tether initially announced its "sustainable Bitcoin mining business" in Uruguay in May 2023, aiming to leverage the country's renewable energy resources. The company had reportedly planned to invest $500 million in the mining venture.

According to BlockBeats, Animoca Brands is planning to go public on Nasdaq next year through a reverse acquisition with Currenc Group, a fintech AI solutions company based in Singapore.Earlier today, Animoca Brands' Chief Strategy Officer Keyvan Peymani stated in an interview with CNBC that the company aims to expand its investment portfolio, which currently includes around 600 companies, beyond the gaming sector. The focus will extend to areas such as artificial intelligence, decentralized physical infrastructure networks (DePIN), decentralized finance (DeFi), and stablecoins. Despite this diversification, gaming remains the largest category in Animoca Brands' portfolio, with 230 out of 628 invested companies related to gaming.

According to PANews, Wealth Securities announced a donation of 1 million Hong Kong dollars on November 27 to a relief fund following the severe fire incident at Hong Fu Court in Tai Po, New Territories, Hong Kong, on November 26. The funds are intended for medical treatment, temporary housing, and post-disaster reconstruction. This initiative highlights the company's commitment to corporate social responsibility and its pledge to continue supporting post-disaster relief efforts.

According to Foresight News, data from Nansen reveals that over the past seven days, only 11 blockchains have recorded transaction fees exceeding $100,000. Among them, Monad reached approximately $111,000, Avalanche around $140,000, Polygon about $245,000, Arbitrum approximately $340,000, and HyperEVM around $406,000.Additionally, six blockchains have seen transaction fees surpassing $1 million. Base recorded approximately $1.3 million, Bitcoin around $1.78 million, BNB Chain about $2.65 million, Solana approximately $2.94 million, Ethereum around $3.87 million, and Tron reached approximately $6.16 million.

Dragonfly partner Haseeb Qureshi has pushed back against the growing pessimism in the cryptocurrency market, arguing that blockchain technology is still in the early stages of an exponential growth curve. His comments, published in an article titled “In Defense of Exponential Functions,” address what he describes as a shift in investor sentiment from “financial nihilism” to “financial cynicism.”According to Qureshi, market participants have moved from believing that nothing in crypto has real value to assuming that many blockchain projects are overvalued and destined to fail. He warns that this mindset risks missing the larger structural transformation underway.Growth should not be measured linearly, says HaseebQureshi drew comparisons to the early days of Amazon, noting that the company endured years of skepticism and did not generate meaningful profits until more than two decades after launching. Traditional financial metrics, such as price-to-earnings ratios, consistently underestimated Amazon’s long-term trajectory.He argues that blockchain is undergoing a similar process. Applying linear frameworks or short-term financial metrics to exponential technologies, he said, leads to flawed conclusions about their viability.“People forget that breakthrough technologies rarely grow in straight lines,” Qureshi wrote. “Early phases often look unstable or overvalued until the compounding effect becomes undeniable.”Blockchain’s long-term impact may mirror the internetQureshi believes blockchain’s adoption curve resembles the early development of e-commerce—only less smooth and more volatile. But the underlying trend, he said, remains one of rapid expansion.While acknowledging the sector’s growing pains, he maintains that the foundations being built today will ultimately reshape global financial infrastructure, monetary systems and digital ownership—just as the internet transformed communication, retail and media.Investors urged to take the long viewQureshi encouraged investors to ground their expectations not in short-term market performance but in the transformative potential of the underlying technology.“If you believe in exponential growth, everything is still cheap in the long run,” he said, adding that long-term conviction—rather than short-term market timing—will define the winners in the next phase of blockchain innovation. 

According to PANews, data from Tokenterminal reveals that Ethena captured approximately $151 million in fees during the third quarter of this year, marking a historic high. Currently, Ethena's total revenue has reached $599 million.

According to BlockBeats, data from Artemis indicates that Sui has led in stablecoin supply changes over the past 24 hours, with a net inflow of $2.4 billion.

According to ChainCatcher, the on-chain asset management AI agent, Agentic FoF, has been compromised due to a security vulnerability, resulting in a loss of approximately $531,000. All vault operations have been halted, and withdrawals from Agentic FoF are suspended pending the completion of an internal investigation. While the Basis vault remains secure, operations have been paused as a precautionary measure, though withdrawal functions are still available.