Today's Digital Money News (December 23) | Michael Selig officially takes charge of the CFTC; Bitcoin company Fold Holdings selected for the Russell 2000

This article summarizes cryptocurrency news on December 23, 2025, following the latest updates on Bitcoin, Ethereum upgrades, DOGE trends, real-time prices of Crypto Assets, and price predictions. Today's major events in the Web3 field include:

1、Crypto Enthusiast Michael Selig officially takes over CFTC, Acting Chair Caroline Pham transitions to MoonPay executive

The United States cryptocurrency regulation is undergoing an important personnel change. Michael Selig, a supporter of cryptocurrency development, has officially sworn in as the 16th chairman of the Commodity Futures Trading Commission (CFTC), succeeding the acting chair Caroline Pham, who has held the position for nearly four years. This appointment is seen as an important signal of the ongoing shift in the direction of U.S. digital asset regulation towards “clear rules and innovation in parallel.”

Selig was previously confirmed by the Senate on December 18, having served as the chief legal advisor for the cryptocurrency working group at the U.S. Securities and Exchange Commission (SEC) and as a senior advisor to SEC Chairman Paul Atkins. His background spans both the SEC and CFTC, and he is viewed by the market as an important bridge for promoting the coordination of cryptocurrency and derivatives regulation. In his inauguration speech, Selig stated that we are currently in a “unique moment,” with new technologies, digital asset platforms, and retail participation rapidly increasing, and Congress may also advance legislation on the market structure of digital assets.

During Caroline Pham's tenure, she laid an important foundation for the CFTC in the field of cryptocurrency regulation. She led the launch of the “Crypto Sprint Program,” promoting spot crypto trading at futures exchanges registered with the CFTC, and initiated a pilot program allowing Bitcoin, Ether, and USDC to be used as collateral. Meanwhile, the CFTC deployed an automated market surveillance system, advanced regulatory modernization, and released a significant amount of liquidity into the market through relief measures. Recently, she also adopted a deferred enforcement strategy for several prediction market platforms, leaving room for the development of emerging markets.

In terms of policy continuity, Seliger is considered to continue the digital asset path of Van. He was involved in the presidential task force's report on strengthening the United States' leadership in digital finance, emphasizing that the CFTC needs to establish a clear compliance framework for Crypto Assets, prediction markets, and new derivatives. He is committed to promoting innovation while maintaining the stability and security of the U.S. commodities and derivatives markets.

With Selig taking office and Fan transitioning to an executive role at MoonPay, the U.S. cryptocurrency regulation is accelerating towards a “systematic and predictable” direction. For market participants focusing on CFTC cryptocurrency regulation, Bitcoin derivatives, and the legislative direction of digital assets, this change carries significant directional importance.

2、BlackRock positions spot Bitcoin ETF as a core asset allocation for 2025, as one of the three major investment themes

BlackRock, the world's largest asset management company, has officially included the spot Bitcoin ETF as one of its three major investment themes for 2025, alongside U.S. Treasury bonds and large U.S. tech stocks, sending a strong signal of institutional confidence in the long-term allocation value of Bitcoin. BlackRock stated that its iShares Bitcoin Trust ETF (IBIT) will be combined with short-term U.S. Treasury bond ETFs and tech stock ETFs covering the “Big Seven” U.S. stocks, forming its core investment direction for the coming year.

Despite the significant pullback in Bitcoin prices since 2025, the flow of funds shows that institutional demand has not weakened. Data indicates that IBIT has attracted over $25 billion in net inflows year-to-date, ranking sixth in global ETF fund inflows. Even though Bitcoin has fallen about 30% from its peak last year, investors continue to build long positions through spot Bitcoin ETFs.

Industry insiders believe that BlackRock's steadfast support for Bitcoin during the market adjustment cycle reflects its recognition of the long-term logic of digital assets. Analysis points out that if it can still attract billions of dollars in funding during a weak market environment, then during the recovery phase of the crypto market, the funding elasticity of spot Bitcoin ETFs may be even more significant. Currently, the cumulative net inflow of IBIT has exceeded 60 billion dollars, significantly leading other similar products.

In terms of product layout, BlackRock is continuously expanding its encryption ETF landscape. In addition to Bitcoin, its iShares Ethereum Trust ETF (ETHA) has also performed well this year, attracting nearly $13 billion in funds. Furthermore, BlackRock has submitted an application for an Ethereum ETF that includes yield strategies and staking mechanisms, indicating its shift from a single price exposure to a “yield-generating digital asset ETF.”

Overall, BlackRock has clearly listed the spot Bitcoin ETF as a key investment theme for 2025, reinforcing Bitcoin's position in institutional asset allocation and further consolidating BTC's status as a mainstream asset in the global financial system.

3、Pi Network launches domain claim mechanism, key signals are being released before mainnet go live

The Pi Network ecosystem is accelerating preparations for its official launch. The latest community update shows that the official domain name claiming and distribution process has been initiated, allowing companies, developers, and institutions that build applications and businesses within the Pi Network ecosystem to obtain exclusive digital domain names in advance of the mainnet launch. This progress is seen as an important signal that the infrastructure of the Pi Network is entering a substantial preparation phase.

This domain claim is accompanied by an upgrade to the domain management interface, with the new system incorporating features such as auction progress tracking, data statistics, and notification settings, making it easier for participants to manage domain assets and reduce potential conflicts after future applications go live. Although the domain system has existed in a testing phase before, this update is the first to explicitly link it directly to the preparation for the mainnet launch of Pi Network. However, the Pi core team has not yet announced the specific time for the full activation of the claimed domains on the mainnet.

The community moderator further explained that future recognized domain names can be bound to the Pi App Studio and applications. In the current phase, domain names will be prioritized for reservation, and application integration will gradually open after the network stabilizes. Links at the smart contract level are expected to be promoted after the mainnet launch. Although the community generally believes that the progress is relatively fast, the relevant timetable still belongs to unofficial expectations.

Meanwhile, the Pi Network Testnet 2 has resumed operation after a brief interruption, with block reprocessing and API adjustments completed, indicating that internal testing is still ongoing. Some users are cautious about the extent of the updates, but the recovery of the testnet shows that the project has not stalled.

On the ecological level, the progress of KYC and user activity also releases positive signals. Community news indicates that the system upgrade has unlocked over 1.2 million previously restricted users and allowed approximately 250,000 users to resubmit KYC applications. Combined with payment testing in real-world scenarios, these signs show that Pi Network is paving the way for a larger scale of compliant users and application ecology. Although the mainnet launch date has not yet been announced, domain name claims and backend expansions have become important footnotes for Pi Network as it prepares to enter the next stage.

4、Bitcoin may record its worst quarterly performance since 2018, with $85,000 as a key watershed

As 2025 draws to a close, Bitcoin is facing its most severe quarterly test since 2018. So far this quarter, Bitcoin has fallen by about 22.54%, marking the largest single-quarter decline in nearly seven years. With less than 10 days left in the year, the market generally believes that Bitcoin is unlikely to achieve the bull market targets previously expected by some analysts, and the focus is shifting towards key price levels in the short term and the medium to long-term outlook for 2026.

Data shows that after retreating from the peak in October, Bitcoin has recorded two consecutive months of decline. The drop in October was 3.69%, which expanded to 17.67% in November, and has fallen about 2.31% since December. Currently, the price of Bitcoin hovers below $90,000, with the latest quote around $87,000. Weak demand growth, slowed inflow of spot Bitcoin ETF funds, and the phased reduction of some “smart money” have collectively increased the downward pressure on the market.

NoOnes CEO Ray Youssef stated that Bitcoin is still in a typical range-consolidation volatility market. In the macro environment where liquidity is tightening and risk appetite is declining, bulls find it difficult to establish a trending upward movement below $90,000. He pointed out that $85,000 is currently an important support level, while there is significant selling pressure around $93,000.

From the options market perspective, the market divergence is also evident. Put options are mainly concentrated around $85,000, while call options are distributed in the range of $100,000 to $120,000, reflecting a lack of consensus among investors regarding direction. Youssef believes that unless Bitcoin effectively breaks through the resistance at $93,000 or falls below the structural support at $85,000, it is likely to maintain a fluctuating trend before the end of the year.

It is worth noting that although the price has fallen more than 30% from its peak, the overall holdings of the U.S. spot Bitcoin ETF have decreased by less than 5%, indicating that institutional investors have not withdrawn on a large scale. The current main selling pressure comes more from retail investors, especially high-leverage and short-term traders. Once it falls below $85,000, there is a possibility that the price will retest the demand zone of $73,000.

Looking ahead to a longer period, VALR CEO Farzam Ehsani believes that the current adjustment highlights the crypto market's high sensitivity to liquidity and sentiment changes. He proposed two possible paths: the first is that large institutions or sovereign funds may position themselves at low levels, with a potential reversal after a short-term decline; the second is that the market may enter a saturation phase, where crypto assets might need a longer time to digest the pressure.

In summary, Ehsani expects that Bitcoin may challenge its historical high as early as the first half of 2026, with a potential rebound to the range of $100,000 to $120,000 in the second quarter. The core variables for future trends will still depend on the level of institutional adoption, the global regulatory environment, and macroeconomic changes.

5、Tom Lee's BitMine heavily invests in Ethereum again, adding $88 million in ETH releases a strong long-term signal

Led by Fundstrat co-founder Tom Lee, the Ethereum treasury company BitMine has recently made a significant increase in its Ethereum holdings, attracting considerable market attention. According to monitoring results from on-chain analysis firm Lookonchain, citing Arkham data, BitMine purchased approximately 29,462 ETH from platforms like BitGo on Monday, with a transaction amount of about $88 million. Although BitMine has not yet made an official confirmation regarding the single transaction, the overall direction of increasing holdings has been corroborated in the company's disclosures.

The official announcement released by BitMine shows that the company purchased a total of 98,852 ETH last week. As of now, BitMine holds a total of 4,066,062 Ether, with an average purchase cost of approximately $2,991. Based on the current Ether price, its Ether treasury is approximately $12 billion, further solidifying its position as the world's largest enterprise-level ETH holder.

Since the beginning of this year, BitMine has been aggressively executing its Ethereum acquisition strategy, with the core goal of controlling approximately 5% of the circulating supply of ETH. The company's management believes that Ethereum will play a key role in the future global financial system, and by holding ETH for the long term, it can not only share in the growth of network value but also occupy a strategic position in the wave of decentralized finance (DeFi) and asset tokenization.

Tom Lee, the chairman of BitMine, pointed out in a recent disclosure that the company is accelerating the so-called “5% alchemy” strategy and has observed significant synergies in its large-scale Ether holdings. He emphasized that BitMine plays an important bridging role between Wall Street and the blockchain world, driving a deep transformation of financial infrastructure through Ethereum and tokenization technology.

From a market performance perspective, short-term price fluctuations have not weakened this long-term layout logic. Data shows that BitMine's stock BMNR fell 0.86% on Monday, closing at $31.09; during the same period, the price of Ethereum dropped approximately 2.48% to $2,951. Analysts believe that increasing positions during the ETH price adjustment phase reflects BitMine's strong confidence in the long-term value of Ethereum and the prospects for institutional-level applications.

6、「Aster Human-Machine Competition」 competition point: The trader camp has already seen 28 individuals with zero funds, and may face defeat with an overall drop of 25%

On December 23, according to data from Aster's official website, today marks the last day of the “Aster Human-Machine Competition.” There are currently 28 traders in the trader camp who are nearly at zero, with an overall return rate dropping to 25.6%. The AI camp has seen a smaller overall drawdown, approximately 5.03%. On the total profit leaderboard, trader “Tippy” is currently in the lead, with account funds of about $27,400; the top two on the AI camp's profit leaderboard are both different models of Claude Sonnet 4.5, ranking 15th and 22nd on the total profit leaderboard, respectively. The specific performance of the top three addresses on the profit leaderboard and the first address of the AI camp are as follows: Tippy (X:tippycrypto): approximately $8,640 loss in 24 hours, account funds about $27,400; Xiao Xia (X:traderxiaoxia): approximately $2,400 loss in 24 hours, account funds about $24,900; Panke (X:AsterGod): approximately $567 profit in 24 hours, account funds about $23,600; Claude Sonnet 4.5 Aggressive: approximately $236 profit in 24 hours, account funds about $15,500; according to official news from Aster, this competition has set up two camps: traders and AI. Each participant has an initial fund of $10,000. As of now, the competition has been ongoing for 15 days. Polymarket has simultaneously opened predictions related to “Who will win the Aster trading competition?” The current probability of winning prediction leader “Tippy” is approximately 67%.

7、The U.S. Department of Justice may become a defendant as Epstein file controversy escalates

According to CCTV news reports, on December 22 local time, U.S. Senate Minority Leader Schumer announced that after the Senate reconvenes in January, he will push for a resolution requiring the Senate to take legal action against the Department of Justice to compel it to fully disclose all files related to Epstein and his associate Maxwell. As soon as the news broke, the focus quickly shifted from 'whether to disclose' to 'how to disclose.' Recently, the Department of Justice's method of releasing Epstein's files has sparked a new round of controversy: the extent of document redaction, gaps in key materials, the search experience, and whether the protection of victims' privacy is adequate, all of which have turned this promise of transparency into a test of institutional 'trust.'

8、Analysts Warn: 2026 May See No Traditional Shitcoin Season, Funds Will Concentrate on “Blue-Chip” Crypto Assets

Several market analysts believe that the likelihood of the familiar “full-blown shitcoin season” occurring in 2026 is decreasing, and the crypto market may enter a highly differentiated new phase. Jeff Ko, Chief Analyst at CoinEx Research, pointed out that in the next market cycle, only “blue chip crypto assets” with real adoption rates, long-term narratives, and a foundation of liquidity will be able to continuously attract funds.

Ko stated that retail investors who are looking forward to a general rise in all altcoins may feel disappointed. He believes that the market characteristics in 2026 will be “selective liquidity,” where funds will only flow into projects that are widely accepted by the market and have clear fundamentals, rather than low-quality or purely speculative tokens. This judgment implies that the previously emotion-driven widespread altcoin rotation may be difficult to replicate.

On a macro level, Ko expects a slight improvement in the global liquidity environment in 2026, but the divergence of central bank policies will limit the overall degree of easing. He also pointed out that since the launch of the Bitcoin spot ETF in 2024, the correlation between Bitcoin prices and the growth of M2 money supply has been weakening, and the traditional macro transmission logic is no longer as effective as it used to be. Based on this judgment, CoinEx Research has set a target price of $180,000 for Bitcoin in 2026.

However, market opinions are not unified. Veteran trader Peter Brandt holds a more cautious view. He reviewed the cyclical trends of Bitcoin over the past 15 years and pointed out that each round of exponential growth is often accompanied by at least an 80% deep retracement. Brandt believes that the current cycle has not truly ended yet, but the next significant bull market peak may have to wait until 2029, which coincides closely with the “four-year cycle theory” that suggests peaks occur one year after halving.

If historical patterns repeat, Bitcoin may experience a significant correction before this, and in extreme cases, the price could fall back to around $25,000. This has also sparked discussions in the market about whether the “four-year cycle is failing.”

Historically, Bitcoin has typically performed strongly in the fourth quarter, but this quarter it has dropped over 22%, making it the second worst fourth quarter performance ever. Some institutions believe that this deep adjustment helps clear high-risk positions, laying the foundation for the next stage of the market.

Overall, the crypto market in 2026 is more likely to present a pattern of “the strong getting stronger.” Bitcoin and a few blue-chip altcoins may dominate the flow of funds, while projects lacking fundamental support face a more severe survival test. This trend holds significant reference value for investors who focus on long-term value and risk management.

9、Bitcoin hash rate falls 4% to a two-year low, does miners' “surrender” signal that BTC price has bottomed out?

Recently, Bitcoin's hash rate has shown a significant decline. Data shows that in the past 30 days, the Bitcoin network's hash rate decreased by about 4%, marking the largest monthly drop in nearly two years. This change occurred against the backdrop of weakening BTC prices and increased market volatility, raising high concerns in the market regarding miner pressure and Bitcoin price trends.

According to the Bitcoin ChainCheck report published by investment management firm VanEck in mid-December 2025, the price of Bitcoin retreated by about 9% during the same period, and the actual volatility over 30 days rose to over 45%, reaching a new high in several months. Analysis indicates that during a significant price downturn, volatility actually increases, showing that market sentiment is becoming tense, and miners' profit margins are further compressed.

Another important factor for the decline in computing power comes from China. Reports indicate that approximately 400,000 mining machines in the Xinjiang region were recently forced to shut down, leading to a withdrawal of about 1.3 gigawatts of power and nearly 100 EH/s of computing power from the network in a short period. Analysts believe this may be related to the shift of power resources towards the demand for artificial intelligence computing, which in extreme cases could have a greater impact on the global Bitcoin computing power.

The pressure on miners is particularly evident. According to VanEck data, the breakeven electricity price for Bitmain's S19 XP mining machine has decreased by approximately 36% over the past year, which means that mining activities are facing more severe challenges in areas with high electricity prices. However, the report also notes that many institutional miners still choose to continue operations, and some countries even maintain Bitcoin mining with government support to ensure the long-term security of the network.

Historically, a decline in hash rate may actually be a “contrarian bullish signal” for Bitcoin. Statistics show that when the hash rate decreases over a 30-day period, the probability of BTC achieving positive returns in the subsequent 90 and 180 days is significantly higher than during periods of increasing hash rate, and the long-term average returns are also higher.

The technical side also releases positive signals. Market analysts point out that Bitcoin has recently shown a rare multi-day bullish divergence pattern, which historically tends to correspond to a phase bottom. Although the BTC price is still under pressure in the short term, the combination of hash rate changes, miner behavior, and technical indicators is heating up the discussion of “Bitcoin price hitting bottom.”

10、The discussion on interoperability between Solana and Cardano heats up, Toly responds “Then let's do it”

Cardano SPO Dave tweeted, “You know I don't like Solana, but I support interoperability. Solana should consider this solution (bringing SOL into ADA), skipping the step of transferring through Base.” Solana co-founder Toly replied, “Then let's do it,” and Cardano founder Charles Hoskinson subsequently stated, “It's time to get started.”

11、Hong Kong Police: 1 billion yen virtual currency exchange store robbery case has arrested 15 people

According to Hong Kong media Hong Kong 01, last week, two Japanese company employees engaged in virtual currency and luxury goods business took a vehicle to a virtual currency exchange shop in Sheung Wan, planning to exchange 1 billion yen (approximately 50 million HKD) packed in 4 suitcases for virtual currency and HKD, but were robbed at knife point. The Hong Kong police disclosed that 15 people have been arrested so far, among whom 7 have been charged with conspiracy to commit robbery. They are currently tracking the whereabouts of the funds, and the investigation is ongoing, with the possibility of more arrests.

12、The first Bitcoin financial services company Fold Holdings is selected for the Russell 2000, MSCI plans to exclude companies with encryption holdings

According to Beincrypto, Bitcoin financial services company Fold Holdings (NASDAQ: FLD) announced on December 22 that it has been included in the Russell 2000, the benchmark index for small-cap stocks in the United States, becoming the first publicly traded Bitcoin financial services company to be selected, currently holding over 1,500 BTC.

At the same time, global index provider MSCI is considering excluding companies that hold more than 50% of their total assets in digital assets from its indexes. According to analysis by JPMorgan, if Strategy is removed by MSCI, it could face a $2.8 billion outflow of funds; if other indexes follow suit, the outflow could reach $8.8 billion. The MSCI consultation period will end on January 15, with a final decision to be announced, and currently, 38 companies face the risk of exclusion, with a total market value of $46.7 billion.

13、The Solana Foundation announced the launch of Kora, supporting fee-free transactions, custom fee tokens, and other features

On December 23, the Solana Foundation announced the launch of Kora, a fee relay and signature node for the Solana ecosystem that supports fee-free transactions, customizable fee tokens, and other features. Previously, there was no modern, standardized way to implement fee payment and remote signing. Although Solana's account model makes these features technically feasible, there has been a lack of ready-to-use solutions in the market. Kora was thus born, featuring the following functionalities:

· Fully cover transaction fees;

· Pay fees using any token (including stablecoins);

· Transfer the signing operation to a secure environment.

14、Lighter: Points obtained from witch addresses, self-trading, and volume manipulation exchanges will be removed and redistributed to the community

On December 23, Lighter announced on Discord that “we have entered the final phase of the second season points event, and we are currently conducting data analysis to remove points obtained from witch addresses, self-trades, and volume manipulation exchanges. All points that have been reduced (including those that have already been removed) will be redistributed to the community.”

15、Bubblemaps: Justin Sun's address is still on the WLFI blacklist, with its WLFI tokens shrinking by about 60 million dollars in three months

On December 23, news from the blockchain analysis platform Bubblemaps reported that Justin Sun's address remains on the WLFI blacklist, and the value of the WLFI tokens locked has shrunk by approximately 60 million dollars in three months.

In September of this year, Justin Sun was blacklisted by the project after transferring about 9 million dollars worth of WLFI tokens, resulting in the freezing of the tokens he held. Although Justin Sun had invested substantial resources to support this Defi project backed by former U.S. President Donald Trump, including a commitment to purchase 100 million dollars worth of TRUMP meme coins and investing 75 million dollars in WLFI tokens, he was still banned.