Stablecoins will not destroy the banking system; instead, they will become a competitive force that drives banks to improve efficiency. Research shows that under the constraint of deposit stickiness, stablecoins have not triggered a massive outflow of deposits, but have instead compelled banks to offer better interest rates and services, becoming a catalyst for the self-renewal of the financial system. This article is sourced from a piece written by Forbes and organized, translated, and authored by BlockBeats.
(Background: Visa has launched USDC stablecoin settlement in the United States, with two banks cooperating to break the weekend vacuum)
(Background information: Digital banks no longer rely on traditional banking for profit; the real gold mine lies in stablecoins and identity verification)
Table of Contents
"Sticky Deposit" Theory
Competition is a characteristic, not a system flaw.
Regulatory aspect "unlock"
Efficiency Bonus
Upgrade of the US Dollar
Editor’s Note:
Will stablecoins impact silver?

ETHZilla, the Ethereum treasury company, announced that it has sold 24,291 ETH for the early redemption of senior secured convertible notes, generating approximately $74.5 million. This move not only marks the company's active debt cleanup but also officially declares that future value will be dominated by revenues and cash flows from RWA tokenization business.
(Previous summary: If MSCI bans "companies with over half DAT market value", will it trigger a sell-off of over $10 billion?)
(Background information: ETHZilla sells 40 million USD worth of Ethereum to buy back stocks, will it trigger a chain effect of DAT sell-off?)
The US-listed company ETHZilla Corporation (NASDAQ: ETHZ), which primarily holds Ether (ETH) as its main treasury asset, will on December 22, 2025, through

JPMorgan is considering offering cryptocurrency trading services to institutional clients, planning to use third-party custody to reduce risk. This step is part of its strategy in the crypto market, reflecting the gradual acceptance and embrace of crypto assets by TradFi. The specific plans will depend on market demand and regulatory feasibility.

The world's largest Ethereum (ETH) corporate reserve company BitMine Immersion Technologies (BMNR) announced today (22nd) that the company has once again increased its purchase of 98,852 ETH last week, bringing its total Ethereum holdings to officially surpass 4 million.
(Previous summary: BitMine increases its holdings by 102,000 Ethereum "total holdings approaching 4 million ETH", Tom Lee: the crypto market has recovered from the shock in October)
(Background information: As Ethereum dropped below 2800 USD, BitMine added 30,000 ETH to its holdings, accounting for over 3.3% of the supply.)
The world's largest Ethereum (ETH) corporate reserve company BitMine Immersion Technologies (BMNR),

The world's largest Bitcoin reserve company Strategy (formerly MicroStrategy) announced that there were no new Bitcoin purchases last week, with open interest remaining at 671,268 coins and a total cost of approximately $50.33 billion. At the same time, the company raised over $700 million through common stock, increasing its dollar reserves to $2.19 billion, strengthening liquidity and financial stability.

Ray Dalio, the founder of the world's largest hedge fund Bridgewater Associates, once again discussed the comparison between Bitcoin and gold. He admitted to holding a small amount of Bitcoin but pointed out that Bitcoin has structural flaws, making it less reliable than gold and more difficult to become the preferred reserve asset for central banks.
(Previous summary: Bridgewater's Dalio: My Bitcoin holding ratio has remained unchanged! Stablecoins are "not worth it" for preserving wealth)
(Background Supplement: Bridgewater's Dalio calls for dollar decline "Gold is indeed safer": I feel the market is in a bubble)
Global renowned hedge fund Bridgewater Associates founder Ray Dalio recently appeared on the podcast "WTF is" hosted by Nikhil Kamath, founder of the Indian online brokerage Zerodha.

The "tokenization" promoted by DTCC is not about putting stocks on the blockchain, but rather a digital upgrade of securities ownership. This article will clarify the differences between the DTCC model and the direct ownership model, pointing out that the real change is that investors are beginning to have the right to choose different ownership models. This article is based on a piece by @ingalvarezsol, organized, compiled, and written by BlockBeats.
(Previous summary: SEC's "two-year on-chain" prophecy: the tokenization restructuring of the DTCC clearing system)
(Background information: SWIFT collaborates with over 30 financial institutions to develop a "blockchain ledger" to promote the large-scale circulation of tokenized assets.)
Table of Contents
Introduction: Tokenization, but not the kind you think.
How does ownership of securities actually work today?
Why upgrade?
Tokenization of the existing system (DTCC model

The most influential 30 people in the blockchain community, the "Tempo 30 Award," is currently in full swing with public voting. Today, the judging panel and a special statement have been officially announced.
(Previous summary: Fidelity analyst: Bitcoin will be a "fallow year" in 2026, support range of $65,000 to $75,000)
(Background information: Market share dropped from 80% to 20%, what happened to Hyperliquid?)
Table of Contents
About the judging panel list: gathering the voices of experts from the industry and community.
Jury Round Voting
Annual Most Influential 30 People Selection Rules
Special Declaration
Move
The area thanks all readers for their enthusiastic participation in the most influential 30 people of the year, the "Tempo 30 Award"! Since the community voting started, over ten thousand people have accumulated in just one week.

MagicBlock recently held the "Magic Garden" celebration in Dubai, marking the successful conclusion of its inaugural Magic Incubator program.
(Previous Summary: Three Tracks from a First-Person Perspective: BTC, Solana, Restaking)
(Background information: A quick overview of the 33 award-winning projects at Solana Breakpoint 2025 Hackathon)
_This article is a press release written and provided by MagicBlock and does not represent the position of the blockchain._

Ten groundbreaking teams showcased real-time on-chain innovations covering trading, privacy, and consumer experience on the eve of the Breakpoint Abu Dhabi conference.
MagicBlock recently held a program completion celebration called "Magic Garden," marking the first session.

Tether executives purchased Northern Data's mining division for $200 million, raising concerns about related transactions and regulatory scrutiny.
(Previous summary: Bloomberg: Tether plans to raise $20 billion and is considering "tokenizing stocks", halting shareholder sell-offs to protect a $500 billion valuation)
(Background: Tether intends to acquire the Italian Juventus Football Club for 1.1 billion euros, potentially becoming the largest sports merger in Web3 history)
Table of Contents
Related structure: Three companies act as "white gloves"
Time Pressure: Double Blow from Tax Investigation and Rumble Acquisition
Capital circulation: Stablecoin cash flow supports the "blood transfusion loop"
Transforming the Chessboard: From Stablecoins to Power Empires
Asset divestiture is often interpreted on Wall Street as streamlining focus, but stablecoin issuer Tether

After the Federal Reserve (FED) cut interest rates and the Central Bank of Japan raised interest rates, the crypto market remains in a volatile range. Institutions and traders have differing views on the market outlook, with some optimistic about the first half of 2026, others expecting short-term fluctuations, and some believing there may be further dips.
(Background: Michael Saylor calls for Bitcoin to reach one million, ten million dollars: waiting for the day when Strategy holds 5%, 7% of the total BTC supply)
(Background information: Bitcoin community warns: Quantum defense upgrades may take five to ten years to implement)
Table of Contents
Wintermute trader: Bitcoin may fluctuate in the range of 86,000 to 92,000 USD.
IOSG Founding Partner: Optimistic about the market in the first half of 2026
Data analyst Murphy: On-chain data sentiment is being repaired.
Santi

MicroStrategy has once again issued the "orange dot" signal, and CEO Michael Saylor believes that if Bitcoin holdings reach 7% of the supply, the price could soar to 10 million dollars; however, the stock price's 50% slump, ETF competition, and regulatory pressure are testing the limits of this infinite buying machine.
(Previous Summary: SEC Privacy Meeting Warning: Financial Regulations Have Become a Blockchain Prison, with a Primary Focus on Protecting Human Rights and Technological Neutrality)
(Background Information: Nasdaq applies to the SEC for a new 5×23 trading system, with U.S. stock market "never closing" expected to be implemented in the second half of 2026.)
Table of Contents
The quantitative gambling behind the orange dot
How the Capital Market Arbitrage Flywheel Drives
Stock price 50% Slump exposes leverage weakness
The aftermath of the Trump era?
Michael Saylor on December 2

Cardano founder Hoskinson warned that hastily upgrading to post-quantum Cryptography at this stage could undermine Blockchain performance, with network costs potentially increasing by as much as ten times, which may lead the industry to self-destruct.
(Previous summary: a16z Long article: What risks does quantum computing pose to cryptocurrencies?)
(Background information: VanEck CEO stated: If Bitcoin cannot withstand quantum, "we will exit the market," old money is shifting to ZCASH)
Table of Contents
Timeline under Quantum Threat
Format War: Lattice vs Hash
Waiting for hardware: Cardano's incremental strategy
At the end of 2025, when the Trump administration strongly embraced cryptocurrency, what truly kept blockchain developers awake at night was not regulation, but when quantum computers would break Bitcoin's defenses. Cardano founder Charles Hoskin.

Bitcoin reached a high of $88,000, but the threat of quantum computers has made the upgrade timeline of 5 to 10 years a new focus for the market, exposing the vulnerabilities and costs of decentralization governance.
(Background: Fidelity analyst: Bitcoin will be a "fallow year" in 2026, support range of $65,000 to $75,000)
(Background Supplement: Arthur Hayes predicts Bitcoin will hit bottom and rebound in January: The Federal Reserve will implement a form of QE, I have gone all-in with 90% of my assets)
Table of Contents
The Cost of Decentralization: Collective Action Across a Decade
The technocrats are calm, while the capitalists are anxious.
25% "Sleeping Coin" Reveals Security Flaw
Betting under Quantum Countdown
The price of Bitcoin remains at a high of $88,000 by the end of 2025, and the first year of the Trump administration can be described as calm. However, the seemingly stable situation...