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On the last trading days of the year, the kind of chart that almost nobody outside finance ever looks at started yelling again.Banks piled into the Fed’s Standing Repo Facility, borrowing a record $74.6 billion on Dec. 31 for 2025. Overnight funding rates popped, the benchmark SOFR briefly hit 3.77%, the general collateral repo rate touched 3.9%.Overnight REPO Chart (Source: NY Fed) Related ReadingBanks just demanded $26 billion in emergency cash but Bitcoin traders are missing a critical warning signalYear-end stress tested the central bank’s “ample” reserve theory, creating a binary scenario for risk assets in January. Dec 31, 2025…

In brief Analysts agree 2026 is unlikely to bring a crypto winter. Short-term volatility is likely, but Bitcoin is expected to remain strong and reach new all-time highs. Altcoins and Ethereum may hinge more on regulatory developments, especially the fate of a U.S. crypto market structure bill. In 2025, advantageous regulatory outcomes helped supercharge a delirious crypto bull run—but that hot streak has since petered out. Now many traders are asking themselves: Was this it? Is it back to another bear market already? For Decrypt’s annual Crypto Crystal Ball series, we’re diving deep on the questions that could define the next…

2025 delivered at least four distinct “crypto is dead” episodes: a January AI-induced flash crash, the October tariff liquidation that erased $19 billion in leveraged positions, months of altcoin carnage, and a fourth quarter slump that wiped out the year’s price gains.Mainstream outlets dusted off “crypto winter” language each time. Bitcoin logged more obituaries by mid-year than in all of 2024, bringing the all-time tally past 470 since 2010.Yet, beneath the violent drawdowns and Twitter eulogies, the infrastructure kept building.Stablecoin legislation passed. Spot ETFs pulled in tens of billions. Major jurisdictions published actual rulebooks rather than issuing enforcement threats.The result…

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure After several months of inactivity, Metaplanet Inc., a Japanese Bitcoin treasury company, has expanded its BTC reserves, adding thousands of new coins to its already extensive portfolio. The company announced the completion of its 2025 quarterly accumulation cycle just two days before the new year, acquiring additional BTC as prices declined. Metaplanet Closes Year With Extra Bitcoin Bitcoin appeared to be on discount as Metaplanet ramped up its accumulation efforts at the close of 2025. The treasury company completed another round of BTC purchases, taking advantage of…

In brief In 2025, President Trump pardoned Ross Ulbricht, as well as BitMEX’s and Binance’s founders, respectively. The clemency fulfilled part of his 2024 campaign promise to end what he called the “war on crypto.” Critics allege political favoritism and ties between the pardons and Trump family ventures. Donald Trump used his pardon power to reshape the federal approach to crypto enforcement in 2025, clearing several of the most high-profile defendants the industry has had to date. The moves signaled a political shift in Washington and raised questions about how the United States would police digital assets during Trump’s second…

Glassnode data shows that XRP’s exchange balances hit their lowest level since 2018 in late December, sparking the usual wave of accumulation phase speculation and “tight supply = moon” commentary.While the eight-year low encompasses the entire exchange ecosystem, CryptoQuant data for Binance offers a recent window into whether these troughs actually precede rallies.Binance’s XRP reserves dropped to roughly 2.6 billion by mid-December 2025, matching the July 2024 low, after peaking above 3.5 billion in early September.The question isn’t whether supply thinned, but whether prior episodes of similarly low Binance reserves preceded medium-term outperformance, or whether the pattern is just noise…

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Charles Hoskinson rang in 2026 from his Wyoming ranch with a message that sounded, at first blush, like an exit. It wasn’t. The Cardano founder said he is “not leaving the cryptocurrency space,” but he is walking away from day-to-day life on X and retooling how he shows up publicly, arguing that his visibility has become a liability for Cardano and Midnight adoption. Cardano Founder Plans To Move Into The Background Hoskinson opened the New Year’s livestream titled “Happy New Year and Farewell” with a post-mortem on…

If you followed Bitcoin ETFs day to day in 2025, you probably developed the same habit everyone did: you checked the print at night, read one sentence about “risk-on” or “risk-off,” then tried to map a clean story onto a messy market.The problem is that daily flows are noisy by design. They’re the residue of dozens of different motives that just happen to share the same wrapper: financial advisers rebalancing model portfolios, hedge funds adjusting basis trades, wealth platforms handling subscriptions and redemptions, and long-only allocators adding or trimming exposure because their investment committee finally met.Sometimes the ETF tape tracks…

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Rep. Warren Davidson warned this week that the United States is moving toward a financial system that would be licensed, permissioned and heavily monitored — a change he says would undercut the original promise of permissionless, private money. He used social posts to flag the concern and urged colleagues to rethink how new rules for stablecoins and digital IDs are written. Lawmakers Flag The GENIUS Act The debate centers on the GENIUS Act, a federal bill that creates a framework for payment stablecoins and related services. Based…

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure After China’s latest move with its Digital Yuan, multiple crypto industry executives have cautioned that the US banks’ push to prohibit all interest payments on stablecoins could give a major advantage to their global rivals. US Risks Giving China A Major Global Advantage On Tuesday, Coinbase’s Chief Policy Officer (CPO), Faryar Shirzad, warned the US Congress that banning interest payments on the digital assets could risk diminishing the legislative efforts and victories obtained this year with the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act.…

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Bitcoin has managed to reclaim the $88,000 level, yet it continues to struggle below the key $90,000 threshold, failing to sustain any meaningful breakout since early December. Despite several recovery attempts, upside momentum remains weak, reinforcing a broader sense of indecision across the market. As fear and apathy dominate investor behavior, a growing number of analysts are now openly calling for a bear market to unfold in 2026, arguing that the current structure lacks the conditions needed for a renewed bullish phase. This cautious outlook is reinforced…

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Ethereum is showing slight upward momentum once again, but the price still remains below the $3,000 level. Despite the fluctuating price actions in the past few weeks, certain structures and narratives that bolster the leading altcoin’s value are still holding strong, raising the potential for a major upswing. Rising TVL Reinforces ETH’s Price Foundation In the dynamic cryptocurrency landscape, Ethereum’s Total Value Locked (TVL) is still emerging as a subtle but powerful anchor for the altcoin’s long-term price stability and the growth of its evolving ecosystem. Over…

There is a particular kind of Bitcoin holder who only shows up when the noise gets loud.They are the people who watched 2021 melt into 2022, who kept their keys anyway, who learned to live with the idea that the line on the chart can drop faster than their mood. When the price is ripping higher, they are treated like prophets. When price rolls over, they are treated like villains.Over the past few weeks, the villain story has been everywhere, long-term holders are dumping, the old hands are cashing out, and the cycle is ending. The story makes emotional sense;…

In brief Total crypto hack losses reached $2.72 billion in 2025, surpassing last year’s record despite subdued market conditions. The Bybit breach in February marked the year’s largest exploit, with North Korean actors suspected of stealing up to $1.5 billion. Major exchanges and DeFi platforms, including Coinbase, Cetus Protocol, Nobitex, UPCX, BtcTurk, and Upbit, reported significant compromises across the year. This year was a record for hacks in the crypto sector, with over $2.72 billion stolen, according to data from TRM Labs.  Yes, with depressed crypto prices getting investors down, 2025 was a particularly bad year for exploits—even after 2024 broke…