In December 2025, U.S. spot Bitcoin and spot Ethereum ETFs have seen inflows return, signaling a partial recovery after a steep downturn in November 2025. Bitcoin ETFs recorded $198 million in inflows, while Ethereum products attracted $143.35 million, lifting total Bitcoin ETF holdings to over $118 billion, or 6.57% of BTC market capitalization.

Updated on December 13, 2025, Communications Minister Solly Malatsi issued a final directive recognizing equity equivalent investment programs as alternatives to South Africa's 30% Black ownership requirement. According to the Department of Trade, Industry and Competition, more than 19,000 submissions were received, with about 90% supporting the EEIP approach; Starlink still needs ICASA regulatory amendments and licensing.

Bitcoin dipped below $90,000 after failing near $94,000, then reclaimed the threshold on Saturday morning. Large-cap altcoins are mixed: ETH is down 3.8% and hovering just above $3,100, SOL and ADA fell 3%, while HYPE and ENA dropped 4–5% to $28 and $0.25, respectively.

The U.S. Office of the Comptroller of the Currency has granted conditional national trust bank charters to BitGo, Fidelity Digital Assets, Paxos, Circle and Ripple, opening new federally regulated paths for digital asset custody and infrastructure services. The approvals, which remain subject to further supervisory and governance requirements, highlight differing strategies on stablecoins and public listings as these firms deepen their integration with the U.S. banking system.

Coinbase, the largest U.S. crypto exchange by trading volume, is reportedly preparing to introduce prediction market contracts and tokenized stock products, with an announcement expected as early as next week. The company will host a product-focused livestream on Wednesday, while it has also joined the Coalition for Prediction Markets alongside Kalshi and Crypto.com as trading volumes in the sector approach $4 billion per week. This expansion would extend Coinbase's business beyond its current spot and derivatives services into on-chain event and tokenized equity markets.

On December 12, 2025, Tether submitted a binding, all‑cash offer for Exor's 65.4% stake in Juventus FC and said it would tender for the rest, with up to $1 billion earmarked for post‑acquisition investment. Bloomberg also reported that Tether is evaluating tokenized equity and share buybacks as it targets a $500 billion valuation.

On December 13, 2025, OKX froze several OM-linked accounts and halted related trading after detecting coordinated price manipulation that triggered a sharp market drop and user losses. The exchange used its Security Fund to absorb substantial losses, while OM traded around $0.07 with a market cap of $81.92 million amid heightened volatility and potential regulatory scrutiny.

In the week of the third 2025 Fed rate cut to a 3.50%-3.75% range, crypto markets stayed cautious even as Bitcoin briefly spiked and then reversed. U.S. authorities moved ahead with major steps such as conditional bank charters for firms like Ripple and Circle, a CFTC digital assets pilot, and New York's adoption of UCC rules for digital assets. Global macro shifts, including expected BOJ hikes toward 1% by 2026, and emerging use cases like YouTube's PYUSD payouts and Bhutan's gold-backed token on Solana, reshaped how investors are assessing risk.