Wu Blockchain News

Galaxy Digital CEO Mike Novogratz warned that XRP and Cardano (ADA) risk losing relevance if they fail to demonstrate real-world utility, arguing the crypto market is shifting from “narrative-driven tokens” to “business-driven tokens” with measurable value and profits. He expects a 1–3 year structural transformation, during which wallets and exchanges may evolve into neobank-like platforms. — link

According to EmberCN, Bitmine—the largest Ethereum treasury company—has begun staking ETH for yield. This morning, it deposited 74,880 ETH (~$219M) into Ethereum PoS, marking its first staking move. Bitmine currently holds 4.066M ETH; at an estimated ~3.12% APY, fully staking could generate ~126,800 ETH annually, worth about $371M at current ~$2,927 ETH price. — link

Bitmain has sharply cut prices on multiple Bitcoin ASIC miners, with S19e XP Hydro and 3U S19 XP Hydro reportedly as low as $3/TH/s, S19 XP+ Hydro around $4/TH/s, S21 immersion units near $7/TH/s, and S21+ Hydro about $8/TH/s. The firm is also pushing bundled “miner + hosting” deals, with hosting power rates around $0.055–$0.07/kWh plus a $0.003 management fee, as weak hashprice pressures mining economics and drives inventory clearance. — link

The Information reports that JPMorgan has frozen accounts used by at least two fast-growing stablecoin startups operating in high-risk markets such as Venezuela in recent months. The move underscores the compliance risks banks face from crypto transactions, including stringent KYC and source-of-funds requirements. One of the affected firms is Blindpay. — link

According to Bloomberg, Coinbase Global Inc. CEO Brian Armstrong said a former Coinbase customer service contractor has been arrested in India in connection with a hacking incident. In May, Coinbase disclosed that hackers bribed contractors or employees outside the U.S. to obtain sensitive customer data and demanded a $20 million ransom, estimating at the time that remediation costs could reach up to $400 million. — link

Vitalik Buterin criticized the EU’s “zero-space” approach under the Digital Services Act, arguing that treating certain speech or products as something to be eliminated reflects an anti-pluralistic impulse. He said a free society should not seek to erase controversial content, but to prevent it from being algorithmically amplified and dominating public discourse. — link

Opinion: Why Has China Decisively Halted Stablecoins? China has made clear it will accelerate the digital RMB while firmly suppressing cryptocurrencies and stablecoins, viewing them as risks to monetary sovereignty and financial stability. The stance reflects concerns over USD stablecoin dominance, capital flight, illicit finance, and systemic risk, alongside China’s confidence in its existing strengths in mobile payments and central bank digital currency infrastructure. Read More — link

According to ASXN Data, Hyperliquid added about 609,700 new users in 2025, reaching roughly $2.95 trillion in cumulative trading volume across 198.9 billion trades. The platform generated around $844 million in revenue, saw $3.87 billion in net inflows, and currently has a TVL of about $4.15 billion. — link

According to ASXN Data, Hyperliquid added about 609,700 new users in 2025, reaching roughly $2.95 trillion in cumulative trading volume across 19.89 billion trades. The platform generated around $844 million in revenue, saw $3.87 billion in net inflows, and currently has a TVL of about $4.15 billion. — link

Japan’s FY2026 tax reform blueprint proposes classifying crypto assets as financial products for wealth building, exploring separate taxation for spot, derivatives and ETF gains with up to three years of loss carryforward. Staking, lending income and NFTs may remain under general taxation, with details pending further legislation. — link

According to CoinGecko’s Crypto Narratives Ranked by Returns 2025, RWA led the market with +185.76%, followed by Layer 1 (+80.31%) and Made in USA (+30.62%), while most other sectors posted losses—led by Gaming (−75.16%) and DePIN (−76.74%). — link

Lighter announced that after completing audits of its perpetual and spot circuits, it has open-sourced the code used to verify every on-chain operation, including orders, cancellations, and liquidations. The move aims to enhance transparency and trust by allowing anyone to independently verify how Lighter L2 operates and is secured on Ethereum. — link

Greeks live: Dec. 26 marks the largest crypto options expiry on record, with nearly $28 billion in notional value expiring. About 267K BTC options expire with a put/call ratio of 0.35 and a max pain level at $95,000, while 1.28 million ETH options expire with a put/call ratio of 0.45 and max pain at $3,100. — link

South Korea’s largest crypto exchange, Upbit, will list ZKP trading pairs against KRW, BTC, and USDT, while the country’s second-largest exchange, Bithumb, will list the ZKP/KRW pair. zkPass (ZKP) is a privacy-focused data verification protocol based on zero-knowledge proofs. — link

Russia’s largest bank, Sberbank, is considering launching crypto-backed loans that would provide ruble lending secured by digital assets. Deputy Chairman Anatoly Popov said the bank is ready to work with regulators to build the necessary infrastructure and hopes to formally discuss such transactions in the near future. — link

According to Kommersant, President Vladimir Putin said Russia is discussing the management of the Zaporizhzhia nuclear power plant with the United States. The report said the U.S. has expressed interest in using the plant’s electricity for Bitcoin mining. Zaporizhzhia is Europe’s largest nuclear power plant. — link

South Korea’s largest crypto exchange, Upbit, will list the YB/BTC and YB/USDT trading pairs. YieldBasis is a Bitcoin leveraged liquidity protocol built on Curve Finance infrastructure. — link

The Bank of Lithuania warned that domestic crypto asset service providers must obtain a license by December 31 or be deemed to be operating illegally and face penalties. The central bank said that from January 1, any entity continuing to onboard new users, receive crypto assets, or provide services without MiCA authorization will be considered engaged in illegal financial activities, potentially facing fines, website blocking, and up to four years in prison. — link

Gemini, described as the third-largest crypto exchange in the United States, announced that it has launched trading and custody support for BNB. BNB is the native asset of the BNB Chain ecosystem, originally issued by Binance in 2017, and is commonly used to pay trading and network fees. Kraken already supports BNB, while Coinbase has added BNB to its listing roadmap but has not yet launched trading. — link

Wintermute founder Evgeny Gaevoy said Wintermute has invested in AAVE since 2022, participates in its governance, and that he personally holds AAVE, while having no equity exposure to Aave Labs. He said the AAVE governance dispute centers on token value accrual and mismatched expectations, adding that it remains unclear whether the front-end and brand governance structure would ensure value accrual to token holders, and that the proposal lacks sufficient detail and Wintermute will vote against it. — link