[Galaxy Establishes New Office in Abu Dhabi and Launches New Business Unit to Enter the Middle East Market] Digital asset management and infrastructure company Galaxy announced the establishment of a new office in Abu Dhabi and the launch of a new business unit as part of its strategy to enter the Middle East market. Galaxy will set up an entity under the regulatory authority of the Abu Dhabi Global Market (ADGM), an international financial center in the region. Galaxy founder and CEO Mike Novogratz stated that this move is part of the company's efforts to expand existing partnerships and business strategies. Galaxy's announced Q3 2025 financial results show a net income of $505 million and an equity value of $3.2 billion.
[Web3 Game Studio ChronoForge to Shut Down Services on December 30 Due to Funding Shortage] Web3 game studio ChronoForge has announced that it will cease all services by December 30 due to funding shortages and various unfavorable factors. Since July, the funding shortfall has forced the founders to personally finance development, reduced staff by 80%, and continued operations without a marketing budget, with revenue falling below sustainable levels, all amidst a bearish sentiment in the Web3 gaming market. The project was developed by Minted Loot Studios, and its affiliated entity, Rift Foundation, raised over $3 million through the sale of RIFT tokens to support game development.
[Machi Big Brother's ETH Long Position Nears Liquidation Price, Unrealized Loss of $344,000] The ETH price is only $27.92 away from Machi Big Brother's liquidation price of $3,201.08. Currently, Machi Big Brother holds an ETH long position worth approximately $35.8 million, with an unrealized loss of $344,000, nearing the loss of the profit taken early this morning.
[U.S. Charges Canadian Man with Orchestrating $42 Million Crypto Investment Scam and Arrests Him in the UK] U.S. prosecutors have charged Canadian citizen Nathan Gauvin with orchestrating a fraud scheme exceeding $42 million through the Discord platform, claiming investments in traditional finance and cryptocurrency. Between May 2022 and October 2024, Gauvin allegedly persuaded users to invest in funds under Gray Digital Capital Management Inc., falsely promising returns of up to 4,384%. In reality, he misappropriated the funds for personal expenses and Ponzi payments, while also fabricating documents to obtain $800,000 in credit. Authorities arrested Gauvin in the UK on Wednesday, and the U.S. SEC simultaneously filed securities fraud charges against him.
CryptoQuant data shows seller exhaustion as whales pull back from exchanges, while traders prepare for a closely watched BOJ meeting that could influence global liquidity.