[ProCap Financial Bitcoin Holdings Increase to 5,000 BTC] Nasdaq-listed Bitcoin-native financial services company ProCap Financial announced that its Bitcoin holdings have increased to 5,000 BTC. The company also holds over $175 million in cash reserves. Despite the current market downturn, ProCap Financial's balance sheet remains robust.

[HashKey Holdings IPO Enters Final Stage with Nearly 148 Times Oversubscription in Public Offering] HashKey Holdings (Stock Code: 03887), which is set to debut on the Hong Kong Stock Exchange, has entered the final stage of its IPO. The international offering portion has been oversubscribed, attracting long-term funds from international and Chinese institutional investors. As of the time of writing, the total subscription funds borrowed through brokerage channels have risen to approximately HK$24.898 billion. Based on the public offering fundraising amount of HK$167 million, the initial oversubscription is approximately 148.91 times. HashKey Holdings' IPO will close on December 12.

[Tidal Trust Submits Two Bitcoin ETF Applications to the SEC, Planned for 2026 Launch] Tidal Trust has filed a registration statement with the U.S. Securities and Exchange Commission, planning to launch two actively managed ETFs: Nicholas Bitcoin and Treasuries AfterDark ETF (NGHT) and Nicholas Bitcoin Tail ETF (BHDG). NGHT employs an overnight rotation strategy, establishing long Bitcoin exposure during overnight hours and allocating to short-term treasuries and cash equivalents during U.S. stock trading hours. The investment advisor for this series of funds is Tidal Investments LLC, with an expected launch in 2026.

[The Federal Reserve to Announce Rate Decision Early Thursday, Market Expects a 25 Basis Point Cut] The Federal Reserve will announce its rate decision at 03:00 on Thursday, with the market expecting a 25 basis point cut to 3.50%-3.75%. There is division within the FOMC, with some voting members possibly opposing further rate cuts. Due to the government shutdown causing the absence of key October data, changes to the SEP and dot plot are expected to be limited. The market is focused on whether the Fed will introduce a 'Reserve Management Purchase Program' (RMP) after ending balance sheet reduction. Bank of America predicts the Fed may purchase approximately $45 billion in short-term Treasury securities per month starting in January, which, combined with MBS reinvestment, could reach around $60 billion. If the RMP is announced, the meeting's focus may shift to the balance sheet rather than the interest rate path.

Ondo released data showing that Bitget's on chain US stock token business has recently dominated the market share. The cumulative trading volume of Bitget US stock contracts has exceeded $10 billion. In the first week of December, the trading volume of the platform exceeded 88 million US dollars, with a market share of 73%. (Ashes)