Huione Pay halted operations and froze customer withdrawals, triggering crowds outside its Phnom Penh headquarters. The suspension, set to last until January 5, follows a surge in withdrawal requests that overwhelmed the platform's liquidity. Users now face locked accounts and uncertainty about fund recovery.

BitMine Immersion Technologies purchased approximately $70 million worth of Ether across a three-day period during recent market weakness. The firm acquired 7,080 ETH for around $19.8 million on December 2, 2025, following a weekend buy of 16,693 ETH valued at roughly $50.1 million, blockchain data show.

Vanguard, which manages over $11 trillion in assets, has reversed its longstanding ban on cryptocurrency products, now permitting clients to trade Bitwise's XRP exchange-traded fund. The policy shift grants more than 50 million customers access to select crypto ETFs and mutual funds holding digital assets. Bitwise CEO Hunter Horsley confirmed the development through social media.

The Federal Deposit Insurance Corporation will submit its initial regulatory proposal for stablecoin issuers under the GENIUS Act to the House Financial Services Committee by December 31, acting Chairman Travis Hill announced on December 2. The framework will establish capital requirements, liquidity standards, and reserve asset diversification rules for federally supervised stablecoin issuers.

Ethereum futures open interest increased by $653 million following a sharp decline that pushed ETH to approximately $2,800. The asset dropped 8% over 24 hours, with trading volume reaching $23.8 billion during the period. Technical indicators suggest the asset may be entering oversold territory as it tests critical support levels.

South Korea's ruling Democratic Party has set a December 10 deadline for the Financial Services Commission to submit a comprehensive stablecoin regulatory framework. Lawmaker Kang Jun-hyeon, secretary of the National Assembly's Financial Services Committee, said the party plans to advance legislation through January if the deadline is met. The initiative aligns with President Lee Jae Myung's policy priority to develop a Korean won-stablecoin market.

U.S. prediction market platform Kalshi announced plans to tokenize thousands of event contracts on Solana, aiming to attract crypto-native traders and deepen liquidity. The move intensifies competition with Polymarket as both platforms recorded record volumes in November, with Kalshi reaching $5.8 billion and Polymarket surpassing $3.7 billion.

Ethereum's open interest rose more than 4% after a sharp price decline pushed ETH to the low $2,800 range. The cryptocurrency saw liquidations totaling $158 million, including $140 million from long positions, yet derivatives traders opened fresh positions worth approximately $654 million.