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.

Coinbase plans to partner with Kalshi to roll out an internal prediction market that uses USDC and is safeguarded by Coinbase Custody, according to CNBC sources. The announcement could arrive as early as next week; as of December 13, 2025, USDC was priced at $1.00 per CoinMarketCap.

On December 12, 2025, Coinbase Institutional outlined macro forces it expects to shape crypto in 2026, saying liquidity support appears earlier than anticipated and reserve growth may persist until April 2026. The Fed cut its policy rate by 25bp to 3.5%-3.75% and signaled RMP U.S. T-Bill purchases over the next 30 days, a backdrop Coinbase views as constructive for digital assets.

On December 13 2025, the Surat sub-zonal office of India's Enforcement Directorate in Ahmedabad filed a charge sheet under the Prevention of Money Laundering Act against five people linked to cybercrime and fraud totaling Rs. 104.15 crore (about $11 million). Authorities allege the group ran online investment and digital asset scams, funneled funds through mule accounts and crypto wallets, and used fake official notices, while police have urged residents to exercise caution when sharing data or engaging with online investment offers.

Coinbase plans to introduce a prediction market product in partnership with Kalshi, with an official reveal scheduled at its "System Update" event on December 17. Kalshi is expected to serve as the initial exclusive prediction market operator on the exchange, aligning with Coinbase's longer-term goal of broadening its financial service offerings beyond crypto. The crypto community is watching for formal confirmation and product details, amid expectations that the move could boost user engagement and diversify revenue.