BBX News: Yesterday, global listed companies entered a new stage of profit optimization in their cryptocurrency asset allocation: Continued increase in holdings: BitMine (NYSE: BMNR) adds another $150 million in ETH; Companies such as American Bitcoin (NASDAQ: ABTC) and ANAP (TSE: 3189. T) continue to increase their BTC holdings Financing layout: Lion Group (NASDAQ: LGHL) raised nearly 10 million US dollars to purchase BTC specifically; Onfolio (NASDAQ: ONFO) Discloses Purchased and Pledged BTC/ETH/SOL Upgrade of Revenue Strategy: DeFi Development (NASDAQ: DFDV) collaborates with Solana Ecological Stability Bank to pursue an annualized yield of approximately 15% using stablecoin reserves Institutional allocation has shifted from "holding" to a compound income framework of "holding+pledging+interest earning". Source: bbx.com

N3XT launches the first blockchain based bank under license in Wyoming, supporting instant, programmable business to business (B2B) payment services with 24/7 operation. （Cointelegraph）

[Binance to cease support for CHESS, DF, GHST token deposit and withdrawal services in 2025] Binance announced that it will stop supporting deposit and withdrawal services for CHESS, DF, GHST tokens via designated networks starting from 16:00 (UTC+8) on December 12, 2025. After this, deposits made via the relevant networks will not be credited to accounts, which may result in asset loss.

[Vanguard Group Warns Japan's Neutral Rate is Underestimated, Recommends Underweighting Short-Term JGBs] Trillion-dollar asset management giant Vanguard Group has warned that the market is significantly underestimating Japan's neutral interest rate level. The group's Global Head of Rates, Haralambos, stated that the Bank of Japan may need a higher interest rate level than the market expects to curb inflation and predicted that the central bank will continue to raise rates at its December 19 meeting. Japan's current policy rate is 0.5%, with the neutral rate estimated to be between 1% and 2.5%. Vanguard Group recommends investors underweight Japanese short-term government bonds, suggesting that underweighting the short end of the yield curve is a risk-avoidance strategy.

[Delphi Digital: The Fed's Liquidity Buffer Depletion May Impact the Crypto Market] Delphi Digital stated that the Federal Reserve's reverse repurchase agreement (RRP) balance has dropped from over $2 trillion to nearly zero, depleting the liquidity buffer. In 2023, the RRP absorbed Treasury issuances to supplement the Treasury General Account (TGA), preventing the depletion of bank reserves. As the RRP balance bottoms out, future Treasury issuances or TGA rebuilding will directly consume bank reserves. The Federal Reserve may choose to expand its balance sheet to provide liquidity, marking a shift from withdrawing liquidity to reinjecting it. Combined with the end of quantitative tightening (QT) and the reduction of the TGA, marginal liquidity has turned net positive for the first time since early 2022, potentially removing a key headwind for the crypto market.