Hilbert Group, a Sweden-based algorithmic crypto investment firm, has agreed to purchase high-frequency trading platform Enigma Nordic in a $32 million transaction. The deal combines newly issued shares and performance-based earn-outs, with Enigma required to generate $40 million in net income to unlock the full payout. Enigma has reported over 50 billion SEK (around $5.4 billion) in 2025 trading volume and a Sharpe ratio above 3.0, as Hilbert prepares to integrate the platform into its hedge fund and proprietary trading operations.

According to developer Edward Hennis on December 19, 2025, Ripple is preparing a protocol-native lending framework on the XRP Ledger with fixed rates and fixed maturities. Amendments are expected to enter validator voting in late January, and the design centers on Single Asset Vaults with designated administrators to manage underwriting and operations.

Uniswap's UNI advanced over 11% in the past 24 hours as governance activity and chart structure aligned. A vote running December 19–25 proposes burning 100 million UNI with a two‑day timelock and turning on fee switches, while AI agent payments and a KuCoin listing added catalysts. Price faces resistance near $6–$7, with potential targets at $7, $10 and $12 if buyers prevail.

Bitcoin has fallen from above $126,000 in early October to around $88,000, while analysts debate whether this marks a new bear market or a deep bull-cycle correction. One analyst argues BTC must regain roughly $101,840–$102,000 to revive its bull phase, while another points to an oversold RSI below 30 for about three weeks as a setup for a potential explosive rebound. At the same time, whale balances have dropped by over 160,000 BTC in a year and spot ETFs saw nearly $500 million in outflows, adding downside risk if support at $83,300 fails.

On December 21, VanEck amended its AVAX spot ETF filing to introduce a staking component that would allocate 70% of the fund's AVAX to staking through Coinbase Crypto Services, subject to implementation. The planned structure includes a 4% service fee on staking rewards, aiming to improve yield, while Avalanche trades around $12 with a multi-billion-dollar market capitalization and notable recent price declines. The proposal has yet to receive formal confirmation from VanEck or regulators, leaving market participants to speculate on its potential impact on AVAX demand and ETF design.

Ripple is steering the XRP Ledger toward institutional-grade, protocol-native lending focused on fixed-term, fixed-rate facilities with isolated risk. The architecture centers on Single Asset Vaults for assets such as XRP and RLUSD, enabling yield generation tied to payments and trading workflows. Amendments for governance are expected to enter validator voting in late January.

As the year closes, PEPENODE promotes a mine-to-earn model that gamifies rewards without hardware and emphasizes staking and gameplay. Its presale highlights a deflationary mechanism that burns tokens used in upgrades and transactions, targeting meme coin and GameFi audiences through a virtual mining dashboard and node progression. The project's flow centers on user engagement via leveling, rewards, and leaderboards.

A draft crypto tax framework in the US House of Representatives, led by Rep. Max Miller and supported by Rep. Steven Horsford, proposes a bipartisan overhaul of how digital assets are taxed. The plan includes a de minimis exemption for regulated stablecoin payments under $200, clearer rules for tax treatment of crypto lending, and up to five years of deferral on income from mining and staking rewards. If formally introduced and passed, it could mark a major shift in how Americans use and report digital assets for tax purposes.