PwC's Global Crypto Regulation Report 2026 argues that institutional use of digital assets has moved beyond trading into payments, settlement, treasury and balance-sheet functions, reaching a stage that is difficult to unwind. The firm highlights growing deployment of stablecoins, tokenized cash and onchain settlement tools across banks, asset managers and payment companies, a trend echoed by Circle and ARK Invest's research on the expanding role of public blockchains.

Bank of America has upgraded Coinbase shares to a buy rating and set a $340 price target after the stock dropped about 40% from its July peak near $420. The bank cited cheaper valuation, higher short interest, and growing revenues from infrastructure, derivatives and Base as potential cushions against volatile retail trading volumes. Analysts also argued that Coinbase could be a long-term winner as crypto adoption is still in its early stages and the exchange expands into new products and markets.

In a Friday press release, Bitfarms agreed to sell its 70-megawatt Paso Pe facility in Paraguay to Sympatheia Power Fund for up to $30 million. The company said it will redirect proceeds to U.S. AI and high-performance computing infrastructure starting in 2026, and its energy assets and development pipeline are now concentrated in North America.

Crypto ETFs head into 2026 after the SEC adopted generic listing standards in September, accelerating U.S. approvals. As of Dec. 22, bitcoin ETFs saw roughly $140 million in December net outflows but about $22 billion in 2025 net inflows, while ether ETFs totaled just under $10 billion. Issuers are preparing for a crowded year amid at least 126 pending crypto ETP filings.

Following a Dec. 27 exploit on the Flow blockchain, loan settlements on NFT lending platform Flowty were halted after the Cadence execution environment was paused until the morning of Dec. 29. Flowty reported 11 loans maturing during the outage, with multiple defaults and two unsettled positions, and has since stopped all settlements while keeping affected loans outstanding. The FLOW token price fell sharply after the incident and continued to decline to $0.086 as ecosystem functionality, including token swaps, remains impaired.

Bitmine disclosed adding 44,463 ETH over the past week, lifting its ether treasury to roughly 3.41% of circulating supply and valuing the stash at just over $12 billion. The firm has begun staking more than 408,000 ETH while targeting a 5% share of the network ahead of its MAVAN launch in early 2026.

Bitcoin hovered near $87,200 on Friday, about 6.5% below its 2025 opening level and well under its October peak above $126,000, even as U.S. equities and precious metals set fresh records. Derivatives positioning around a reported $28 billion options expiry and reduced holiday liquidity have coincided with roughly $500 million in weekly outflows from spot bitcoin ETFs and about $4.3 billion pulled over the final two months of the year. Gold climbed beyond $4,580 per troy ounce and silver surpassed $75, while the S&P 500 and Dow closed their Christmas Eve session at all-time highs and the Nasdaq gained more than 20% in 2025.

Following Coinbase’s Dec. 17 system update, JPMorgan and Benchmark said the company’s broadened product slate strengthens the upside case for COIN by expanding use cases and engagement. Benchmark reiterated a Buy rating and a $421 target, while analysts highlighted stock trading, prediction markets, and derivatives aimed at reducing reliance on spot crypto volumes; Deutsche Bank recently initiated with Buy and a $340 target.

Deutsche Bank has begun covering Coinbase shares with a Buy rating and a $340 price target, implying about 40% upside from recent levels. The bank expects derivatives, stablecoins and subscription services to take a larger share of Coinbase's revenue mix as the exchange moves toward an "everything exchange" model beyond spot crypto trading. Analysts project that new products such as prediction markets and tokenized equities could start contributing meaningfully from 2026 and support more than 20% adjusted EBITDA growth next year.