transition

According to Cointelegraph, despite previous rumors about Arkham planning to shut down its trading platform Arkham Exchange, Arkham CEO Miguel Morel stated that the cryptocurrency trading platform launched by Arkham Intelligence is not shutting down and is transitioning from a centralized model to a fully decentralized trading platform (DEX).He stated, "The future of crypto trading is decentralized, and that is the direction we are working towards." Arkham Exchange launched in 2024, supporting users for spot crypto trading and perpetual contract trading. The platform released its mobile application by the end of 2025.According to CoinGecko data, as of the time of writing, Arkham's average daily trading volume is approximately $640,000.

Investment firm Variant's Chief Legal Officer Jake Chervinsky posted on the X platform: "Today is my last day working full-time at the company, after which I will transition to an advisory role."

According to Jinshi News, Federal Reserve Governor Cook stated that the labor market has stabilized and is roughly in balance, but will closely monitor any potential rapid changes.

The Hong Kong Securities and Futures Commission announced that licensed corporations, virtual asset service providers licensed by the SFC, and related entities (collectively referred to as "licensed institutions") must transition to the new suspicious transaction reporting platform developed by the Joint Financial Intelligence Unit, namely the "Second Generation Suspicious Transaction Reporting and Management System" (STREAMS 2) by February 2, 2026.This platform will replace the existing system to enhance automation and analytical capabilities, thereby improving the efficiency of analyzing suspicious transaction reports and disseminating financial intelligence. From February 2, 2026, STREAMS 2 will be the only channel for submitting suspicious transaction reports, and licensed institutions can submit reports in XML format, specified PDF format, or via an online form.

According to The Block, the European cryptocurrency trading platform Bitpanda will launch trading for stocks and ETFs on January 29, integrating over 10,000 stock and ETF products into its existing application.Bitpanda stated in a press release that this launch marks "the first time the largest cryptocurrency, stock, and ETF products in Europe are combined into one application," creating what it calls the most comprehensive regulated investment platform in Europe.Founded in 2014, Bitpanda has established a pan-European business under various national and EU regulatory frameworks and holds licenses to operate in the European Economic Area and the UK.

According to market news, informed sources indicate that Polygon has recently implemented a large-scale internal layoff, with about 30% of employees being dismissed this week. On social media, several Polygon-related employees and ecosystem members have posted information about resignations or team changes.This layoff occurs after Polygon's strategic shift towards stablecoin payment and the completion of the acquisition of Coinme and Sequence for a total of $250 million. Polygon Labs' communications director, Kurt Patat, confirmed that the layoffs are part of the team integration measures following the acquisition, and the total number of employees is expected to remain stable.

Lighter's marketing director Sebastián J. announced on Discord that its Equity Perps (U.S. stock perpetual contracts) market is now live on the mainnet, open 24 hours a day for 5 days a week (Monday to Friday, with weekends off). Previously, these markets only followed U.S. trading hours. These markets are about to achieve round-the-clock trading.

According to The Block, Bitcoin mining company Bitfarms Ltd. has agreed to sell its remaining Latin American operations, marking its complete exit from the regional market as the company refocuses its strategic priorities on North America and energy and data center infrastructure related to artificial intelligence and high-performance computing.The company announced in a press release on Friday that it has reached a final agreement with the Singapore-based crypto infrastructure fund Sympatheia Power Fund, managed by Hawksburn Capital, to sell its 70-megawatt Paso Pe mine in Paraguay for up to $30 million. Under the terms of the deal, Bitfarms will receive $9 million in cash at closing (including a $1 million non-refundable deposit already paid) and up to an additional $21 million over the next 10 months based on post-closing milestone conditions.Management stated that this sale effectively realizes the expected free cash flow from the mine over the next two to three years. Bitfarms CEO Ben Gagnon noted that the proceeds from the sale will be reallocated to North American high-performance computing and artificial intelligence energy infrastructure starting in 2026, marking the official completion of the company's multi-year plan to scale back its Latin American operations.This sale fully concentrates Bitfarms' energy asset portfolio in North America, including 341 megawatts of operational capacity, 430 megawatts of capacity under construction in the U.S., and a total of approximately 2.1 gigawatts of long-term project reserves in the region. Bitfarms is continuously transitioning from a geographically dispersed Bitcoin mining business to domestic energy assets in the U.S. that can support artificial intelligence and high-performance computing workloads. The company began signaling its transformation in mid-2025, emphasizing the higher return prospects brought by the growing demand for high-energy data centers, and subsequently announced plans to convert some of its mines into artificial intelligence infrastructure.

According to on-chain analyst Ai Yi's monitoring, Arthur Hayes has withdrawn tokens worth $2.52 million from exchanges since he indicated on December 20 that he was swapping from ETH to DeFi tokens, with PENDLE accounting for 48.9% of his positions, as follows:PENDLE: 687,000 tokens, worth $1.232 millionLDO: 1.85 million tokens, worth $1.03 millionENA: 1.22 million tokens, worth $257,000

The Bank of Lithuania has stipulated that the transition period for crypto asset service providers to obtain a license will end on December 31, 2025. After the transition period, VASPs that have not obtained a CASP license under MiCA must cease related services, including no longer accepting new customers, no longer holding customer assets, and must properly return customer funds and crypto assets.As of July 18, 2025, approximately 30 companies have applied to the Bank of Lithuania for a crypto asset service provider license, with 10 applications currently under evaluation. More than 370 companies have reported providing crypto asset services to the National Enterprise Register, but only 120 companies are actually operating, generating revenue, and submitting financial statements.

According to on-chain data analysis by Alpha Updates, long-term Bitcoin holders sold nearly 1 million BTC in the past 30 days, setting a new historical high. Such large sell-offs typically occur in the later stages of a bull market, as early investors begin to take profits.During the same period, "Bitcoin shark" addresses net bought 269,822 BTC, marking the largest scale of concentrated accumulation in 13 years. This phenomenon of "old money exiting, new money entering" usually signifies that the market is entering a bull market rotation phase, rather than a top signal. It is expected that volatility will increase in the future, with the dominant forces in the market gradually shifting.

According to market news, the Spanish National Securities Market Commission (CNMV) has published new guidelines outlining how it will implement the EU's Markets in Crypto-Assets Regulation (MiCA) for the country's financial ecosystem. The regulatory body released a detailed Q&A document addressing investor protection, licensing, and regulation of cryptocurrency platforms and investment entities.Spain is attempting to join the European digital asset regulatory framework under MiCA to unify market regulation, consumer protection, and licensing requirements for virtual asset service providers (VASP). In its announcement, the CNMV modified two existing Q&A documents: one concerning collective investment institutions (IICs) and venture capital entities (ECRs), and another covering the application of the EU's Markets in Financial Instruments Directive II (MiFID II). Additionally, a dedicated section for MiCA was newly added, alongside the collective investment institutions section, which includes "Free Investment Collective Investment Institutions" (IICIL). In this section, the regulator clarified how to set limits on the periodic redemption of investment tools investing in "evergreen funds."Spain's adoption of MiCA will allow some retail investors to access cryptocurrencies through free investment funds, as the government seeks to expand access to the digital asset market under relevant laws protecting investors. Furthermore, according to the CNMV's guidelines, venture capital entities now bear greater transparency obligations. From the CNMV's announcement, the transition period for MiCA rules will last until July 1, 2026.

The SEC Chairman Paul Atkins stated this morning that the U.S. financial markets are about to transition to on-chain. "Under my leadership, the SEC is prioritizing innovation and actively adopting new technologies to achieve this on-chain future while continuing to protect investors' interests." On-chain markets will provide investors with greater predictability, transparency, and efficiency.Participants in the DTC can now directly transfer tokenized securities to the registered wallets of other participants, and these transactions will be tracked by the DTC's official records. Paul Atkins expressed, "I look forward to the SEC considering an innovative exemption policy that allows innovators to leverage new technologies and business models to begin transitioning our markets on-chain without being constrained by cumbersome regulatory requirements." This morning, the SEC approved DTCC to custody and confirm tokenized stocks and RWA assets on-chain.

The Italian Securities Market Regulator (Consob) issued a notice reminding that, according to the EU Regulation on Markets in Crypto-Assets (MiCAR), virtual asset service providers (VASP) currently registered with the OAM in Italy must submit an application to transition to a regulated crypto asset service provider (CASP) by December 30, 2025, in order to continue operating. Otherwise, they will not be allowed to provide related services from that date, and must cease operations by June 30, 2026, at the latest.Consob specifically reminds investors: it is essential to confirm whether the VASP currently partnered with plans to apply for a CASP license; check if the service provider is listed in the ESMA (European Securities and Markets Authority) or OAM registry; if the service provider is not authorized, investors have the right to request the return of their assets. Consob also reiterates its urging to VASP: those who have not applied for CASP authorization must cease operations by December 30, close all contracts, and return user funds; clearly disclose future operational plans or exit arrangements to users. This notice is part of the comprehensive implementation of MiCAR in the EU, ensuring a smooth and orderly transition in the market.

According to The Defiant, the number of Ethereum validators has decreased by about 10% since July, falling back to levels seen in April 2024. This marks the first occurrence of a sustained exit of validators since the transition to a proof-of-stake mechanism.As of November 11, the number of daily active Ethereum validators has dropped below 1 million for the first time since April 28, currently standing at 999,203. The waiting time for the exit queue has reached a historic high of 17.6 days; meanwhile, the waiting time for validators to join has surged to 22 days, with approximately 1.2 million ETH awaiting staking.Clemens Scarpatetti, CEO of CryptoCrew Validators, stated that the decline in active validators reflects a mix of cyclical and structural factors, including long-term stakers taking profits after strong performance in ETH during the second and third quarters, as well as large withdrawals from liquidity staking providers like Lido.The decline in staking yields is also a significant factor. As of the time of writing, the annualized staking yield for Ethereum is approximately 2.9%, a substantial drop from the record 8.6% in May 2023. Meir Rosenschein, Product Director at DcentraLab, noted that the decrease in staking yields and rising borrowing costs have rendered leveraged staking unprofitable.Dune data shows that the decentralized staking protocol Lido leads the market with over 8.4 million ETH, accounting for more than 23%. Binance and Coinbase hold approximately 9.2% and 6.5% of the staked ETH share, respectively.

Wintermute released a cryptocurrency market briefing indicating that market sentiment is improving and risk appetite is on the rise. Bitcoin (BTC) is still oscillating in the range of $105,000 to $107,000, showing resilience, but to drive the altcoin market, BTC may need to approach historical highs further. In the short term, U.S. regulations and political news will become new volatility drivers.This week, the market tone has significantly improved compared to last month. With the October sell-off settling down, investors are repositioning into selective risk assets. Trump's proposal for a "2000 USD tariff rebate" briefly boosted risk sentiment, while the easing of the U.S. government shutdown and weakening macro data also provided support to the market. However, capital inflows remain limited, and crypto assets are still the weakest asset class.By sector, DePIN, L2, AI, and DeFi sectors are leading in gains, but the overall market breadth remains narrow, with a few strong coins accounting for the main increases. Funds are still concentrated in mainstream coins, lacking sustainability in the pursuit of altcoins.Overall, the market structure is improving, and sentiment recovery is evident. Crypto assets may be in a transitional phase from bottoming out to upward movement. If BTC can break through its previous highs first, funds are expected to spread again, driving a broader altcoin rebound.

According to ChainCatcher, the Wall Street Journal reports that Goldman Sachs (GS.N) is intensifying its efforts to enter the hot market of data center and other infrastructure financing, aiming to capture a larger share amid the artificial intelligence boom.Insiders reveal that Goldman Sachs is forming a dedicated team within its Global Banking and Markets division, focusing on global infrastructure financing, which includes increasing lending in this area and finding investors for these debts. This initiative is driven by a new wave of multi-billion dollar transactions involving AI data centers, their massive energy demands, and financing for processing units that support AI development. The new team will also focus on traditional infrastructure construction or upgrade projects in developed countries and emerging markets.Additionally, the new team will be responsible for raising funds for renewable energy and certain types of liquefied natural gas projects, as well as providing financing for military and other equipment related to rising defense spending in various countries.

ChainCatcher news, the SEC has officially designated the Naoris Protocol as a reference model for the financial industry's transition to post-quantum cryptography in the "Post-Quantum Financial Infrastructure Framework" (PQFIF). This strategic document submitted to the U.S. Crypto Assets Working Group places the Naoris Protocol at the core of U.S. cybersecurity regulatory priorities.This strategic document is released against the backdrop of the rise of quantum computers, which pose an existential threat to the protection of digital assets: by 2034, the probability of quantum computers related to cryptography breaking the RSA-2048 algorithm is between 17% and 34%, threatening trillions of dollars in digital assets. The "Post-Quantum Financial Infrastructure Framework" references Naoris three times. The Naoris Protocol stands out with its "Sub-Zero Layer" architecture, which allows the integration of post-quantum cryptography into existing EVM blockchains without the need for hard forks or interruptions. Its approach employs NIST-approved algorithms (ML-KEM, ML-DSA, SLH-DSA) to secure blockchain infrastructure.