[Framework Ventures Co-Founder Predicts a Decline in Token Issuance by 2026] Framework Ventures co-founder Vance Spencer posted on the X platform, stating that 2025 could be a pivotal year for the continued development of the crypto industry. The industry has moved past memecoins, NFTs, low-liquidity/high fully diluted valuation tokens, and consumer-focused projects. He predicts that the number of token issuances will significantly decrease by 2026, with the market focusing on mainstream assets like BTC and ETH, as well as DeFi blue chips with reasonable value capture mechanisms. Institutional bidding may exceed expectations. Future priorities will center on stablecoins, RWA (real-world assets), lending capital markets, and asset management, addressing industry issues by reducing redundant operations, improving quality, and enhancing compliance. The current outlook is bullish, but opportunities for growth and exits are highly concentrated.

Russian banking giant Alfa Bank has now allowed its 40 million customers to buy and sell Bitcoin, with no specific timeline mentioned. （The Bitcoin Historian）

[Spot Gold Breaks Through $4,350/oz] The price of spot gold has surpassed $4,350 per ounce, with a daily increase of 0.43%.

1. New wallet to withdraw 1000 BTC worth 0 USD from Binance 2. Strategy increases holdings of Bitcoin, purchases 1229 BTC at a cost of $0 3. Spot gold briefly fell below $4440 per ounce and then rebounded to $4445.03 per ounce 4. Trump criticizes Federal Reserve and FOMC members, Cook denies allegations 5. BlackRock deposits 2201 BTC and 7557 ETH into Coinbase Prime 6. USDC Treasury adds 76 million new coins to Ethereum and destroys nearly 168 million USDC coins 7. North Korean hackers steal over $2.17 billion in cryptocurrency by 2025

[South Korea's Basic Law on Digital Assets Expected to Be Delayed Until Next Year] The South Korean government is drafting the 'Basic Law on Digital Assets,' which aims to introduce investor protection measures such as no-fault liability and a bankruptcy isolation mechanism for stablecoins. The draft proposes that stablecoin issuers allocate reserve assets to low-risk investments and deposit or entrust them with banks or other management institutions, with the fund ratio not falling below 100% of the issuance balance. Information disclosure, terms, and advertising regulatory standards for digital asset operators will be aligned with those of traditional financial institutions, and no-fault liability may apply in cases of hacking or system failures. Additionally, the draft may allow digital assets to be sold within South Korea to address the practice of 'overseas issuance, domestic circulation.' Due to ongoing disagreements over issues such as the qualifications of stablecoin issuers, the submission of the government proposal is expected to be delayed until next year.