Exchange Dynamics
Binance Alpha adjusts token list and launches new tokens
Binance Alpha platform officially delists BUZZ, DARK, FROG, GORK, MIRAI, PERRY, RFC, SNAI, and TERMINUS tokens today at 15:00 Hong Kong time. According to official review, these tokens do not meet the platform standards. After delisting, users can still sell these tokens on Binance Alpha.
At the same time, Binance Alpha will launch the RateX token (RTX) today at 17:00 and start trading. Users holding at least 226 Binance Alpha points can participate in the airdrop claim, with each person eligible to receive 25 RTX tokens. Claiming will consume 15 points, and if the event has not ended, the threshold will automatically decrease by 5 points every five minutes. Users must confirm their claims within 24 hours on the event page, otherwise it will be considered as forfeited.
Bithumb launches DEXE Korean Won trading pair
South Korean exchange Bithumb will launch a DEXE Korean Won trading pair at 3 PM Hong Kong time today, further enriching its trading offerings.
Cryptocurrency-Stock Linkage and Corporate Finance Dynamics
SOL Treasury Company Forward Industries Tokenized Stocks
Nasdaq-listed Forward Industries has issued tokenized shares, FWDI, on the Solana blockchain through Superstate's Opening Bell platform. This marks the first time a publicly traded company's equity has directly entered the DeFi space. The tokenized shares are held by Superstate's transfer agents and can be transferred from traditional brokerage accounts to whitelisted Solana wallets.
SharpLink Ethereum Holdings Update
Ethereum treasury company SharpLink announced that as of December 14, it held a total of 863,424 Ethereum, almost 100% staked, and had accumulated 9,241 Ethereum in rewards.
Japanese listed company TORICO plans to raise funds to purchase Ethereum.
TORICO, a company listed on the Tokyo Stock Exchange's Growth Market, plans to raise approximately 4.7 billion yen (about US$30.17 million) through a partnership with Mint Town, with all proceeds intended for the purchase of Ethereum. Funds managed by Mint Town are expected to become TORICO's largest shareholder.
Latest industry news
JPMorgan Chase lowers stablecoin market forecast
A recent report by JPMorgan Chase predicts that the stablecoin market will reach $500-600 billion by 2028, lower than the previous forecast of $1 trillion. This year, the stablecoin market capitalization grew by approximately $100 billion to over $300 billion, primarily driven by USDT and USDC, influenced by crypto trading activity. The report points out that tokenized bank deposits and central bank digital currencies will pose competition, limiting the stablecoin's market share in institutional and cross-border payments.
A cryptocurrency fraud case involving 3 million yuan was busted in Zhejiang, China.
Police in Yueqing, Zhejiang Province, quickly cracked a telecommunications fraud case in which the suspects induced the victim to invest 3 million yuan in virtual currency and then obstructed withdrawals using a fake platform. Police recovered all the funds within two hours, and two "money mules" have been criminally detained.
Libya cracks down on illegal cryptocurrency mining
Libyan authorities have intensified their crackdown on illegal Bitcoin mining, sentencing nine people to three years in prison in November. While low electricity prices attract mining activity, it consumes approximately 2% of the country's electricity, exacerbating power shortages. Experts recommend regulating the activity through legislation rather than simply banning it.
The US Senate confirms a close associate of the cryptography movement.
The US Senate approved Mike Selig, Trump's nominee, to serve as chairman of the CFTC, while Travis Hill will lead the FDIC; both are considered pro-cryptocurrency candidates.
Zhao Changpeng shared recent updates
In his BNB Chain 2025 year-end AMA, former Binance CEO Changpeng Zhao revealed that he has engaged in in-depth discussions with governments of more than ten countries regarding crypto regulation and industry development. His current priorities include leading the Giggle Academy, supporting the BNB ecosystem through YZi Labs, providing blockchain consulting to countries such as Pakistan and the UAE, and maintaining an active lifestyle.
DAT Data: Overview of Crypto Asset Holdings by Listed Companies (December 19, 2025)
The following is a summary of the daily major holdings rankings, showing the differences in asset size and market capitalization share among companies.
1. (SOL Asset Holdings: Ranking of Listed Companies' Digital Asset Value)
The SOL asset holdings daily report on December 19, 2025, shows that Forward Industries topped the list with 6.822 million SOL holdings, worth $818.2 million, followed by over 20 other companies, including Solana Company. Mercurity Fintech had a market capitalization of over $784 million and an mNav of 6.035; while iSpecimen had a market capitalization of only $3.8 million and an mNav as low as 0.032, highlighting the significant differences in asset size to market capitalization ratios among the companies.
2. (Altcoin Diversified Portfolio: A Panoramic View of Crypto Asset Holdings by Listed Companies)
In the Altcoin holdings report of December 19, 2025, CEA Industries led the pack with 515,000 BNB and $430.6 million in holdings, while CleanCore Solutions held 710 million DOGE. Sui Group ranked among the top with over 100 million SUI, and companies such as Galaxy Digital have invested in cryptocurrencies such as HYPE and LINK, with some assets showing fluctuations between their cost price and current value.
3. (Top US BTC Holders: MicroStrategy Leads the Pack)
In the US BTC holdings daily report on December 19, 2025, MicroStrategy topped the list with 67,100 BTC and $57.305 billion in holdings, while Coinbase held over $1.242 billion but its /M.Cap was only 1.9%. Ten companies, including Trump Media, were on the list. Bitcoin Standard Treasury had a /M.Cap of 1197.5%, giving it a significant advantage in asset allocation.
4. (Top 10 Global BTC Holders: US and Japanese Companies Lead)
As of December 19, 2025, the top 10 global BTC holders were Strategy Inc. of the United States, with 11,300 BTC and $5.737 billion, while Metaplanet of Japan ranked among the top five. The Bitcoin Standard Treasury's M.Cap exceeded 1198%, while Coinbase held $1.243 billion, but its market capitalization accounted for less than 2%, highlighting the significant differences in asset allocation strategies among companies.
5. (BTC holdings in China and Hong Kong: Next Technology leads local companies)
According to the BTC holdings report for China and Hong Kong on December 19, 2025, Next Technology topped the list with 5,541 BTC and $498 million, followed by more than 20 other companies, including Boyaa Interactive. Companies like Cargo had a /M.Cap exceeding 269%, while WebX International held only 1 BTC, highlighting a significant gap in scale between Chinese and Hong Kong companies in their cryptocurrency holdings.
6. (Top 10 Global BTC Holders: Asset Landscape Dominated by US Companies)
As of December 19, 2025, the top 10 global BTC holders were Strategy, a US company, holding 11,300 BTC worth $5.737 billion. Metaplanet, a Japanese company, was the only non-US entity. The Bitcoin Standard Treasury's market capitalization (/M.Cap) reached 1198%, while Coinbase held $1.243 billion but only accounted for 1.9% of the market capitalization, highlighting the asset concentration trend among leading companies.
