Today's Cryptocurrency News (December 18) | Federal Reserve and SEC Ease Crypto Regulations; Bloomberg Analyst Warns Bitcoin Could Drop to $10,000

This article summarizes cryptocurrency news as of December 18, 2025, focusing on the latest Bitcoin updates, Ethereum upgrades, Dogecoin trends, real-time crypto prices, and price forecasts. Major Web3 events today include:

1. Gate Founder Dr. Han: Exchanges afraid to talk about going public are mostly makeshift operations

Gate founder Dr. Han recently interviewed Wu Shuo, stating that going public is not a choice for top-tier exchanges but a must-answer question; exchanges that have never considered going public are suspicious in terms of compliance. He further pointed out that whether a company can go public largely determines if it is a “real company.”

2. Polymarket user retention rate surpasses 85% among crypto platforms, prediction markets show strong stickiness

Recent studies show that decentralized prediction market platform Polymarket performs outstandingly in user retention, exceeding 85% among crypto platforms. The study was jointly released by data analysis platform Dune and market maker Keyrock, providing a systematic analysis of user behavior in the crypto industry. The results indicate that even compared to mainstream DeFi protocols, crypto wallets, and centralized exchanges, Polymarket still has stronger user stickiness.

As a prediction market, Polymarket allows users to trade around real-world events, including election results, macroeconomic data, sports events, and social hot topics. These products combine information, judgment, and trading, making users not only speculators but also information participants. Data from Dune and Keyrock show that Polymarket users tend to revisit the platform repeatedly and participate in markets continuously, with a significantly longer active cycle than most crypto applications.

In the overall crypto industry, user retention has always been a core challenge. Many DeFi projects and trading platforms experience rapid loss of active users after short-term traffic surges. Polymarket’s high retention rate reflects its advantages in product value, user experience, and system stability, also indicating that the potential of prediction markets in user engagement is underestimated.

User retention rate is regarded as an important indicator of a platform’s long-term health. High retention not only signifies user approval but also makes it easier to attract liquidity, developer resources, and potential investors. For prediction markets, continuous user participation is especially critical because market depth and pricing efficiency depend heavily on active traders. Polymarket’s retention rate surpassing 85% among crypto platforms highlights its community activity and ecosystem resilience.

From a product perspective, Polymarket is known for its simple interface and intuitive operation, allowing users to quickly view event progress, place trades, and track results. Additionally, its transparency and data presentation design enhance user trust. Moreover, prediction markets have an educational aspect, helping users understand probabilities, risks, and information pricing mechanisms, thereby increasing long-term participation willingness.

Looking ahead, as the crypto industry gradually shifts from speculation-driven to application-driven, platforms with high user retention are more likely to continuously accumulate liquidity and influence. Polymarket’s data performance indicates that prediction markets are becoming an important track in the crypto ecosystem, with user engagement levels comparable to mainstream DeFi products and exchanges.

3. Federal Reserve and SEC relax crypto regulations, can institutional funds and tokenization drive crypto market recovery?

Recently, the Federal Reserve and the U.S. Securities and Exchange Commission (SEC) have announced several policy adjustments related to cryptocurrencies, which are interpreted by the market as a clear shift in U.S. regulators’ attitude towards digital assets. These measures focus on lowering barriers for institutional participation, promoting tokenization development, and improving overall market liquidity, sending positive signals for the medium- and long-term development of the crypto industry.

On the Federal Reserve side, they have withdrawn the restrictive policy statement issued in 2023 and introduced new guidelines allowing regulated and unregulated member banks to participate in crypto-related businesses. The Fed explicitly views cryptocurrencies as innovative technologies to enhance banking efficiency and service capabilities, meaning banks can more broadly offer crypto asset custody, access, and tokenization services in the future.

Meanwhile, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) have also relaxed restrictions. FDIC allows banks to manage crypto assets and offer tokenized deposit services without prior approval, while OCC explicitly permits banks to hold Bitcoin, Ethereum, Solana, and XRP to support blockchain operations and settlement needs. These policy adjustments significantly reduce compliance barriers for traditional financial institutions entering the crypto market.

Regarding the SEC, its Division of Trading and Markets issued new guidance on crypto custody, clarifying that broker-dealers must have actual control over their clients’ crypto assets, including private key management, asset transfer capabilities, and risk assessment and contingency plans for blockchain risks. These rules strengthen investor protection and provide clearer compliance frameworks for institutions.

Overall, the policy signals from the Fed and SEC are expected to boost institutional confidence in crypto assets, improve market liquidity, and accelerate the tokenization of real-world assets (RWA). However, in the short term, market sentiment remains cautious. Bitcoin remains under pressure, with declining trading volume indicating that trading activity has not yet rebounded significantly.

In summary, these policy adjustments are more likely to lay a foundation for a medium- to long-term recovery rather than immediately reversing prices. As institutional participation and infrastructure improve, the crypto market may gradually move toward a more mature and compliant development stage.

4. Uniswap submits proposal to burn 100 million UNI, v2 and v3 fee switches to be officially enabled

Uniswap founder Hayden Adams recently announced that Uniswap has officially submitted a “Unified Governance Proposal,” entering the final governance voting stage. This proposal is regarded as a key milestone in Uniswap governance history, involving UNI token burn, protocol fee distribution, and legal governance alignment.

According to official information, the voting will officially start at 10:30 PM EST on December 19 and run until December 25. Adams also urged all governance representatives to vote before Christmas, humorously warning they will be “placed on Santa’s naughty list” to emphasize the importance of voting.

If the proposal passes smoothly, after the voting ends and a two-day lock-up period, several substantive changes will occur in the Uniswap protocol. First, 100 million UNI tokens will be burned in the Uniswap ecosystem, directly reducing circulating supply and potentially benefiting long-term value.

Second, the fee switches for Uniswap v2 and v3 on the mainnet will be officially enabled. After activation, the protocol will start handling the generated fees, with part of the fees used for UNI token burns, and fees from Unichain network also incorporated into the burn mechanism. This signifies Uniswap’s shift from “governance token only” to a “value capture token model.”

More importantly, this proposal also involves major upgrades in governance and legal aspects. According to the proposal, Uniswap Labs will enter into a legally binding contract aligned with the governance outcome. The protocol will operate under the Wyoming DUNA Act framework, providing a clearer legal connection between decentralized protocols and the real legal system.

This move is seen as enhancing the credibility and enforceability of Uniswap governance, and also as an important example for DeFi protocols exploring compliance and legal certainty.

Overall, this unified proposal not only concerns adjustments to the UNI token economic model but also signifies a comprehensive upgrade in protocol revenue distribution, governance execution, and legal structure. As the final vote approaches, market and community attention is rapidly increasing, and the outcome may have a profound impact on Uniswap’s future development.

5. Bitwise optimistic about Solana’s long-term prospects, predicts SOL may reach new highs in 2026

Despite recent downward pressure on Solana (SOL), institutional outlook remains optimistic for its long-term value. In the past 24 hours, SOL price fell about 4%, breaking below the $130 key support level, currently around $123, reflecting overall bearish sentiment in the crypto market. During the same period, the global crypto market declined about 1.5%, with weekly losses expanding to 7.5%.

Bitwise Asset Management, in its annual market outlook, predicts Solana could hit a new all-time high in 2026. The analysis suggests that the core driver of long-term SOL growth is the continuous strengthening of network fundamentals. Data shows that Solana reached a historical high of $294.33 in January 2025, and although it has retraced about 58% from that high, the long-term growth logic remains intact.

Bitwise emphasizes Solana’s advantages in transaction speed, fee costs, and ecosystem maturity, which continue to attract developers and institutional investors. Notably, investment products based on Solana are gaining steady attention. Data from SoSoValue shows that on December 17, Solana spot ETFs saw about $10.99 million in net inflows, with Bitwise’s BSOL alone inflowing $6.96 million, bringing total assets to $613 million; Fidelity’s FSOL also recorded $2.89 million in net inflows.

On-chain data also supports Solana’s outlook. According to Syndica, Solana has ranked first in DApp revenue among all L1 and L2 networks for 19 consecutive months. As of November 2025, it accounts for 31% of total revenue in Web3 decentralized applications, indicating strong ecosystem activity and user stickiness.

From a technical perspective, short-term downside risk remains. If $130 support is broken, $120 becomes a critical psychological support; a further breakdown could see prices drop to $110 or even $100. Conversely, if prices stabilize above $130 and break through $140, a new upward trend could be confirmed, opening space toward $150.

Overall, short-term volatility and market sentiment dominate SOL’s price performance, but from medium- to long-term indicators such as institutional holdings, ETF fund flows, and DApp revenue, Solana is still viewed as an important blockchain asset with cyclical growth potential.

6. Elon Musk comments on “Trump account”: No more poverty in the future, so no need to save money

On December 18, billionaire and Bridgewater founder Ray Dalio announced plans to match $250 donations for children in Connecticut. Previously, Michael and Dell had donated $250 per child under 10 through the “Trump Accounts” initiative. In response, Musk said this was of course a kind gesture by the Dells, but in the future, there will be no poverty, so no need to save money. Musk has previously advocated for universal high income, firmly believing that AI and robotics will make human labor unnecessary in the future. Trump Accounts is a new type of children’s investment account launched by U.S. President Donald Trump in the 2025 “Working Families Tax Cuts” law, aimed at providing long-term savings and investment opportunities for American children to help them accumulate wealth.

7. Norway’s $2 trillion sovereign fund supports Metaplanet, a key endorsement for Bitcoin treasury strategy

Recently, Norway’s Government Pension Fund Global (NBIM) expressed clear support for Tokyo-listed company Metaplanet, attracting high market attention. As one of the world’s largest sovereign wealth funds managing nearly $2 trillion, NBIM publicly voted in favor of all five management proposals at Metaplanet’s extraordinary general meeting (EGM), seen as a significant endorsement of the “Bitcoin treasury strategy.”

Metaplanet is often called the “Asian version of Strategy (formerly MicroStrategy),” focusing on Bitcoin-centric corporate treasury management. NBIM currently holds about 0.3% of Metaplanet’s shares and explicitly recognizes Bitcoin’s legitimacy and long-term value as a corporate asset allocation tool. This statement indicates that NBIM is no longer a passive holder but actively supports the company’s aggressive Bitcoin-centered capital strategy.

The five approved proposals aim to enhance capital structure flexibility and accelerate Bitcoin accumulation. They include reducing share capital and reserves to free funds, expanding authorized share capital, and launching new preferred stock classes. Among them, Class A preferred stock (MARS) is a perpetual security offering monthly floating dividends, increasing financing capacity without diluting common shareholders; Class B preferred stock (MERCURY) offers fixed quarterly dividends, conversion rights, and redemption rights, better meeting institutional investors’ needs for stable returns and potential Bitcoin upside.

Metaplanet also plans to raise about $150 million from institutional investors through issuing MERCURY shares, with clear authorization to use the funds for Bitcoin accumulation. These designs are seen as creating an “institutional-grade, scalable Bitcoin financing machine.” If the strategy proceeds smoothly, Metaplanet could become one of the largest Bitcoin holders among companies, second only to Strategy led by Michael Saylor.

Notably, NBIM has long been involved in Bitcoin treasury models through its 1.05% stake in Strategy, and its stake in Metaplanet has increased from about 0.3% mid-year to nearly 0.49%. The market generally interprets this as the Norwegian fund’s global indexation of “Bitcoin-supported stocks,” viewing them as an emerging investable asset class.

However, Metaplanet has recently paused Bitcoin purchases since late September, possibly due to its market-to-net-asset-value (mNAV) falling below 1. The upcoming special shareholder meeting is seen as a key point for whether the company will resume expansion. While its goal of increasing Bitcoin holdings to 100,000 by 2026 remains uncertain, the Bitcoin strategy is entering a new phase under sovereign fund endorsement.

8. Bitcoin quantum security controversy heats up: Saylor downplays risks, industry experts warn the upgrade window is narrowing

As the blockchain industry begins to address the potential threats of quantum computing, Bitcoin’s quantum security issue has once again become a market focus. Recently, Solana has deployed post-quantum digital signatures on testnet, and Ethereum has included quantum security in its long-term roadmap, highlighting mainstream blockchains’ high regard for future cryptographic risks. In contrast, Bitcoin has had related discussions and proposals, but whether it can complete upgrades before quantum threats materialize remains widely debated.

Bitcoin enterprise finance figure Michael Saylor remains relatively optimistic. He believes quantum computing will not destroy Bitcoin but may “strengthen Bitcoin,” implying that large tech companies and government systems will address quantum security first, leaving ample reaction time for Bitcoin. This stance has sparked clear disagreement within the community.

Many blockchain and cryptography experts advise caution. Eli Ben-Sasson, founder of Starknet and Zcash, notes that theoretically, Bitcoin can achieve quantum-safe upgrades, but in practice, consensus mechanisms are extremely slow, and even simple proposals face difficulties, let alone major cryptographic upgrades across the entire network. Mihailo Bjelic, co-founder of Polygon, warns that even if upgrades go smoothly, they typically take over two years, and frictionless upgrades in real environments are highly unlikely.

On risk assessment, some institutions have provided more quantitative estimates. Charles Edwards, founder of Capriole Investments, predicts that between 2028 and 2030, the probability of Bitcoin facing a quantum attack could reach 34% to 55%. If the upgrade is delayed, the risk of value loss for Bitcoin will increase accordingly. He emphasizes that the upgrade deployment itself takes 2 to 3 years, making this risk not distant.

From a technical perspective, Bitcoin’s current reliance on ECDSA signatures is theoretically vulnerable to quantum algorithms, while SHA-256 hashes are relatively more secure. Experts point out that early addresses, especially those from the Satoshi era, are at higher risk; in contrast, new SegWit addresses offer some quantum resistance.

Overall, whether quantum computing will threaten Bitcoin in the short term remains uncertain, but industry consensus is forming: the “time window” for Bitcoin’s quantum upgrade is narrowing. Regardless of whether the risk manifests in five or ten years, discussions and preparations around Bitcoin’s quantum security are no longer purely theoretical.

9. Vitalik Buterin: Ethereum needs to simplify protocols to truly achieve “trustless”

Ethereum co-founder Vitalik Buterin recently stated that to truly realize “trustlessness,” Ethereum not only depends on code and decentralized validators but also must enable more users to understand the entire blockchain protocol from start to finish. Simplifying the protocol itself is key to achieving this.

Buterin pointed out that the core of trustlessness is that the protocol can operate automatically without continuous developer intervention. But if the protocol is too complex, only a few technical experts can understand its logic, and ordinary users still need to “trust” that small group, which contradicts the original intention of blockchain.

He posted on X: “An underestimated trustless approach is to increase the number of users who can truly understand the entire protocol. Ethereum needs to achieve this through protocol simplification.” When asked whether this would sacrifice some functionality, Buterin admitted that sometimes reducing features for better comprehensibility is necessary.

This view is also recognized within the Ethereum ecosystem. Privacy Layer 2 project INTMAX, built on Ethereum, states that if a privacy protocol can only be understood by a few, it is not truly trustless but merely shifts trust. Compared to complex “black box” systems, simple and auditable architectures better align with blockchain principles.

In fact, the crypto industry has long faced high user understanding barriers. From private key management, Gas fees, to protocol mechanisms and regulatory uncertainties, complex technical details often deter ordinary users.

Ethereum’s official roadmap also acknowledges that the network is still “too complex” for most users, and future efforts will focus on lowering usage barriers to make the experience closer to traditional Web2 applications. This includes promoting smart contract wallets, simplifying Gas fees and key management, and reducing technical requirements for running nodes.

Additionally, the Ethereum Foundation continues to fund educational projects to promote blockchain literacy. Overall, simplifying protocols and enhancing user understanding are becoming crucial steps for Ethereum to achieve long-term decentralization and trustlessness.

10. Bloomberg analyst warns Bitcoin could fall to $10,000, ETH, ADA, XRP face systemic risks

The crypto market remains under pressure, with Bitcoin recently oscillating around $87,000. Several analysts and derivatives market data have issued bearish signals. Some warn that if Bitcoin drops to $10,000 in this cycle, major altcoins like Ethereum (ETH), Cardano (ADA), and Ripple (XRP) could face catastrophic consequences.

Recent Bitcoin rebound momentum has weakened, with price showing “short-lived bounce followed by rapid decline.” Amid macroeconomic uncertainties, Bitcoin’s performance has begun to underperform traditional equities. On Wednesday night, Bitcoin briefly rebounded above $90,000 but quickly fell back below $87,000.

Derivatives data shows traders are actively hedging against further declines. Large volumes of put options at the $85,000 strike price have entered the market, especially around the December 26 expiry. Derive.xyz indicates that 30-day implied volatility has risen to nearly 45%, with skew remaining in the negative zone, reflecting high market alertness to downside risks, which may persist into the first half of 2026.

FxPro chief analyst Alex Kuptsikevich states that the upward trend formed in late November has been broken, and the current market structure resembles a deep correction phase, with defensive trading intensifying.

In Ethereum, short-term sentiment remains cautious, with December 26 expiry near $2,500 puts accumulating, indicating ongoing concerns about ETH’s short-term trajectory.

From a long-term cycle perspective, Bloomberg strategist Mike McGlone warns that Bitcoin’s previous surge past $100,000 may be setting the stage for a deeper cyclical correction, potentially dropping to $10,000 in 2026. He believes that highly speculative assets tend to undergo sharp corrections after rapid wealth expansion.

On-chain data shows that short-term holders have been in loss for over a month, while long-term holders have collectively reduced holdings by about 500,000 BTC since July. Looking ahead, geopolitical risks, market leverage, and liquidity conditions will be key variables influencing Bitcoin and the broader crypto market. (CoinDesk)

11. US-listed company VivoPower plans to acquire Ripple Labs shares worth $300 million

According to CoinDesk, NASDAQ-listed VivoPower (stock code: VVPR) is expanding its strategic involvement with Ripple through a new joint venture aimed at acquiring hundreds of millions of dollars’ worth of Ripple Labs shares, giving investors indirect exposure to nearly $1 billion in underlying XRP assets. The company announced on Tuesday that its digital assets division, Vivo Federation, has been entrusted by Korean asset manager Lean Ventures to preliminarily purchase $300 million worth of Ripple Labs equity.

Based on current XRP prices, VivoPower estimates this stake represents about 4.5 billion XRP tokens, worth approximately $900 million. However, the structure does not involve direct purchase of XRP. Instead, Lean Ventures plans to establish a dedicated investment vehicle holding the Ripple Labs shares purchased by Vivo Federation, targeting Korean institutional and accredited investors. VivoPower states it has received Ripple’s approval to buy preferred shares and is negotiating further acquisitions with existing institutional shareholders. Under this arrangement, VivoPower will not deploy its own balance sheet funds but will earn management fees and performance-based income. If the initial $300 million entrusted amount is reached, the company aims for a net economic return of $75 million within three years.

12. A whale’s multi-signature wallet was hacked due to private key leak, with losses of about $27.3 million

PeckShield reports that a whale’s multi-signature wallet was hacked due to private key leakage, resulting in losses of approximately $27.3 million.

The attacker has laundered $12.6 million (about 4,100 ETH) through Tornado Cash and still holds about $2 million in liquid assets.

Additionally, the attacker controls the victim’s multi-signature wallet, which still holds a leveraged long position on the decentralized lending platform Aave—collateralized with $25 million worth of ETH and borrowed $12.3 million in decentralized stablecoin DAI.

13. Ark Invest increases holdings in crypto concept stocks like BitMine, Cathie Wood remains bullish on crypto industry prospects

Amid a broad correction in crypto-related stocks, Cathie Wood’s Ark Invest has once again taken contrarian positions. According to the latest filings, Ark Invest significantly increased its holdings in BitMine, COIN, and Bullish through multiple ETFs on Wednesday, demonstrating continued confidence in the industry’s long-term outlook.

Data shows that Ark Invest bought about $10.56 million worth of BitMine stock across three ETFs on Wednesday. Previously, it had purchased about $17 million worth of BitMine stock on Monday, indicating aggressive accumulation in a short period. BitMine is regarded as the world’s largest Ethereum asset management firm, closely tied to ETH ecosystem development.

In addition to BitMine, Ark Invest also added about $5.9 million in COIN stock and approximately $8.85 million in Bullish stock, further expanding its exposure to crypto infrastructure and trading platforms.

Notably, this accumulation occurs when these stocks are trading at significant discounts. BitMine (BMNR) closed Wednesday down 6.59% at $29.32, nearly 24% below five days earlier. COIN fell 3.33% to $244.19, with an 8.78% decline over five days; Bullish declined 1.89% to $42.15, down 6.41% over five days.

Market consensus suggests that Ark Invest’s continued buying reflects Cathie Wood’s optimistic macro and crypto cycle outlook. Wood has previously stated that she expects a “substantive breakthrough” in inflation within the next year, which could trigger a new valuation recovery for risk assets.

Meanwhile, Tom Lee, chairman of BitMine and a well-known strategist, also remains positive about the crypto market. He notes that despite short-term pressures, the company continues large-scale ETH purchases. With improving U.S. regulation and legislation, and increasing institutional participation, the “golden age of cryptocurrencies” is approaching.

Overall, Ark Invest’s accumulation during the correction signals a clear long-term bullish stance and underscores institutional capital’s strategic patience in blockchain and digital assets.

14. Aster to launch Phase 5 airdrop “Crystal” on December 22

On December 18, Aster announced it will launch Phase 5: Crystal airdrop on December 22, with the following details:

· Duration: 6 weeks (December 22, 2025 – February 1, 2026)

· Allocation: 1.2% of total ASTER supply (about 96 million ASTER)

· Claim method: optional 3-month lock-up. The 1.2% airdrop is divided into two parts:

· 0.6% basic share: can be claimed immediately

· 0.6% lock-up reward: unlocked after 3 months lock-up. Users can choose:

· Claim immediately: receive only the basic share, lock-up reward will be burned

· Wait for lock-up to complete: claim all shares (basic + lock-up reward). This design provides instant liquidity, encourages long-term holding, and accelerates deflation by burning the reward if claimed early.

Aster also disclosed the timeline for Aster Chain development: testnet: late December 2025 mainnet: Q1 2026 staking and governance: Q2 2026. Aster plans to launch its own L1 network, which will give it higher autonomy over fee structure, validator economy, and protocol upgrades, strengthening ASTER token value from the infrastructure layer.