Laura Katherine Mann, partner at the law firm White & Case, stated that 2025 will be a "test sample year" for cryptocurrency IPOs, while 2026 will be the true year of judgment, when the market will decide whether digital asset public companies are a long-term viable asset class or merely trading opportunities during a bull market.

She pointed out that the composition of companies planning to go public in 2026 will lean more towards financial infrastructure, regulated exchanges and brokers, custodians and infrastructure service providers, as well as stablecoin payment and treasury management platforms.

Against the backdrop of a more constructive U.S. regulatory environment and increasing institutionalization, the IPO window is supported; however, Mann also emphasized that valuation discipline, macro risks, and the price trends of crypto assets will determine how many deals can ultimately successfully go public.

 according to DefiLlama data, the TVL of the Real-World Asset Tokenization (RWA) sector is 16.536 billion USD. Among them: · BlackRock BUIDL TVL reached 2.499 billion USD; · Tether Gold TVL reached 2.255 billion USD; · Ondo Finance TVL reached 1.923 billion USD.

EXOR Group: rejects Tether company's proposal to acquire Juventus shares, reiterates no intention to sell Juventus shares.

Previously reported, cryptocurrency giant Tether company is very serious about the plan to acquire Juventus club, they are ready to make a new offer exceeding 2 billion euros again.

Michael Saylor, founder and executive chairman of Strategy, reposted on the X platform the news that the company will continue to remain in the Nasdaq 100 index, and also responded by saying: "Will continue to accumulate Bitcoin until the market stops complaining."

Galaxy Research research director Alex Thorn wrote an article titled "Don’t Underestimate Tether," pointing out that Tether has established a vast range of investments and business operations. In addition to a circulating supply of USDT exceeding $185 billion, the company has invested in agriculture and robotics companies, operates Bitcoin mining and high-performance computing (HPC) data centers, and develops AI health applications (QVAC) and a private communication app (Keet). Furthermore, Alex Thorn revealed that the latest report shows Tether is the largest centralized finance (CeFi) lender in the cryptocurrency field, with loans exceeding $14 billion, and has paid more than $10 billion in dividends to shareholders in the first nine months of this year.

Bitmine has purchased 14,959 ETH again, worth approximately 455.99 million USD.

According to official announcements, the "Rebuilding the Foundation of the Cryptocurrency Global Economy · Morgan Protocol Ecosystem Launch — Global Leaders Strategic Dialogue Summit" grandly opened on Jeju Island, South Korea today. Global industry leaders, ecosystem builders, and community representatives gathered to witness this milestone moment in the crypto sector.

At the summit, MOVA CEO Mr. Wael Muhaisen delivered a speech focused on AI economic payment infrastructure; Mr. Prince, Morgan’s Mandarin-speaking evangelist, interpreted the core value and application prospects of the X4O2 protocol; Morgan Protocol CEO Mr. Mike shared AI economic payment solutions via video and emphasized the importance of the Korean market; Morgan Protocol CSO Mr. Adelino detailed the global strategy and Asian market layout.

In the subsequent interview session, Mr. Jerry and Mr. Mike engaged in an in-depth dialogue on ecosystem strategic synergy. Mr. Wael Muhaisen summarized their complementary advantages, further presenting a complete blueprint from technology to commercial implementation.The atmosphere was high, and the excitement continues.

past 24 hours, centralized exchanges (CEX) have had a total net outflow of 69,300 Ethereum, with the top three CEX by outflow volume as follows:

· Coinbase Pro, outflow of 72,900 ETH;

· Gate, outflow of 265.93 ETH;

· Gemini, outflow of 25.75 ETH.

In addition, Bybit had an inflow of 2,031.03 ETH, ranking first on the inflow list.

U.S. President Trump has narrowed the Fed chair race down to "two Kevins." He has previously indicated a preference for choosing former Fed Governor Kevin Warsh or National Economic Council Director Kevin Hassett to lead the Fed next year. According to the latest data from the prediction market Kalshi, the probability of Kevin Warsh being elected as the next Fed chair has risen sharply by 25 basis points, now at 39%, while Kevin Hassett's probability has dropped by 18 basis points to 54%. Another candidate, Christopher Waller, has a probability of only 5%.

After a recent meeting, Trump stated that Warsh is currently his first choice but gave high praise to both candidates. They both support lowering interest rates and believe rates should be at 1% or below. The market has now factored in a more dovish policy outlook from the Fed.

According to on-chain analyst Yu Jin's monitoring, this whale exchanged 163 BTC for 4717 ETH through THORChain cross-chain, valued at 14.68 million USD. In the 18 days since November 25, this whale has cumulatively exchanged 1632 BTC for 48,364 ETH, with a total value of 145 million USD, and an average ETH exchange price of 3011 USD.