Vitalik Buterin said he had long criticized the Ethereum Foundation for not having enough expertise in P2P networking—focusing too heavily on cryptoeconomics, BFT consensus, and block-level development while overlooking the network layer. He noted that this has now significantly improved. Pointing to the performance of PeerDAS, he praised raulvk and other EF contributors for the “heroic” work required to get PeerDAS operational and highlighted a roadmap aimed at faster message propagation, greater network robustness, and parallel advances in privacy at the networking layer.
Acting CFTC Chair Caroline Pham has introduced a pilot program that permits BTC, ETH, and USDC to be used as collateral in U.S. derivatives markets, accompanied by updated guidance on tokenized collateral. The MPD also rescinded Staff Advisory 20-34, saying that recent advancements in digital assets and tokenized collateral — including the passage of the GENIUS Act — have rendered the advisory obsolete.
Strategy purchased 10,624 BTC for roughly $962.7 million at an average price of about $90,615 per coin, bringing its year-to-date Bitcoin yield for 2025 to 24.7%. As of December 7, 2025, the firm holds 660,624 BTC in total, acquired for approximately $49.35 billion at an average cost basis of $74,696 per bitcoin.
Farcaster co-founder Dan Romero announced a significant change in the project’s direction, ending its 4.5-year “social-first” strategy after it failed to reach product–market fit. The project is now shifting completely to a wallet-driven growth model. The team believes the newly introduced and rapidly expanding in-app wallet is the strongest product–market fit they’ve seen so far. Their new approach — “come for the wallet, stay for the network” — aims to turn every new wallet user into an engaged participant in the Farcaster protocol.
ZKsync has announced plans to retire ZKsync Lite (formerly ZKsync 1.0), the zero-knowledge rollup introduced in 2020, with deprecation scheduled for 2026. The update won’t impact other ZKsync systems, and the team will release a detailed timeline and migration instructions next year. According to ZKsync, Lite has fulfilled its original purpose, and roughly $50 million in assets remain bridged to the network, with L1 withdrawals continuing to function normally.
U.S. President Donald Trump’s newly released national security strategy does not reference cryptocurrency or blockchain, even though he previously spoke about turning the U.S. into a leading crypto center. Instead, the document highlights AI and quantum computing as key national priorities, stating that the U.S. intends to maintain global leadership in these technologies and their standards, along with biotechnology.
SEC Chair Paul Atkins said he anticipates the entire U.S. financial system will transition to blockchain-based infrastructure within the next two years. He added that the shift toward digital assets, tokenization, and broader market digitalization will be the next major phase — one that promises “significant benefits” in terms of transparency and risk management.
Binance founder Changpeng Zhao (CZ) emphasized that the core requirement for hardware wallets is that the private key must remain on the device at all times and never be exposed. Earlier, YZi Labs (formerly Binance Labs) announced that it had invested in OneKey, an open-source hardware wallet provider.
Ethereum co-founder Vitalik Buterin said the ecosystem needs a trustless, on-chain gas futures market. He noted that although fees are low right now, users have little clarity about how gas prices might shift over the next couple of years. Such a market, he explained, would both signal expectations for future fees and allow users to hedge against rising costs — even enabling them to prepay for gas within a chosen time window.
CoinShares Head of Research James Butterfill countered recent criticisms from Arthur Hayes and S&P Global, saying concerns about Tether’s solvency are overstated. Pointing to Tether’s latest attestation, he noted the company holds about $181 billion in reserves versus roughly $174.45 billion in liabilities, leaving an estimated surplus of around $6.8 billion. He also highlighted that Tether remains among the most profitable firms in the sector, earning roughly $10 billion in profit during the first three quarters of 2025.
U.S. prosecutors have urged a federal judge in New York to impose a 12-year prison sentence on Terraform Labs co-founder Do Kwon, describing his involvement in the 2022 TerraUSD collapse as a “massive” fraud that contributed to wider turmoil in the crypto market, including the eventual failure of FTX. His sentencing is set for December 11.
Polish legislators were unable to override President Karol Nawrocki’s veto of a digital-assets bill, effectively halting Prime Minister Donald Tusk’s push to implement crypto regulations aligned with EU standards. The lower chamber failed to secure the three-fifths majority needed for an override, even though Tusk maintained that the measure was crucial for national security.
Upbit, South Korea’s largest cryptocurrency exchange, has removed all previously issued deposit addresses as part of its ongoing wallet maintenance. Users will need to create new addresses before making deposits. Starting December 5 at 17:00 KST, deposits and withdrawals for 33 assets across 21 networks will be restored in stages. The update comes in the aftermath of the November 27 security incident that resulted in roughly 44.5 billion KRW in losses.
Binance founder Changpeng Zhao said on December 4 that simply holding Bitcoin is one of the strongest investment strategies, outperforming 99% of startups. He also stressed that he has no ties or cooperation with the Trump family. CZ added that he sees no need to return to Binance’s daily management, noting that his absence continues to support the growth of the broader BNB blockchain ecosystem. #BTC $BTC
Two individuals have been detained in Vienna in connection with the robbery, killing, and car arson involving a 21-year-old Ukrainian heir who reportedly held significant cryptocurrency assets. According to police, the victim was lured into a hotel’s underground parking garage by people of the same nationality, where he was assaulted and coerced into giving up the passwords to two crypto wallets. The funds were then allegedly transferred out.
Ethereum’s mainnet has completed the “Fusaka” upgrade, marking an important milestone in its L1-plus-rollup strategy. The update boosts base-layer performance, increases blob capacity, reduces rollup operating costs, and improves overall user experience. It also introduces a Blob Parameter Only (BPO) fork mechanism, allowing blob capacity to be raised safely as demand from rollups scales. Consensys previously noted that Ethereum intends to move from yearly upgrades to twice-yearly hard forks going forward.