pricing

U.S. Treasury Secretary Becerra recently stated that Hong Kong is currently exploring a new financial system based on digital assets as a "sandbox" for financial innovation, raising market concerns about potential impacts on the pricing systems of Bitcoin and gold.Becerra added that there is currently no conclusive evidence to prove this, but related rumors continue to circulate in the market, and the U.S. is closely monitoring the situation. Analysts point out that if a sovereign digital asset system linked to gold emerges in the future, it could have a long-term impact on the existing U.S. dollar-dominated financial system and the pricing logic of crypto assets. However, at present, discussions are still more about policy and market speculation, with short-term impacts on the crypto market primarily driven by sentiment and expected trading.

According to Jinshi reports, Federal Reserve official Barkin stated that the pricing power of businesses is constrained, which is beneficial for controlling inflation.

Tom Lee stated during the podcast "The Compound" this Thursday that the current bear market was triggered by the largest deleveraging event in crypto history that occurred last October (larger than the FTX collapse): a pricing error on a trading platform triggered a chain of automatic liquidations, resulting in over 2 million accounts being liquidated globally, one-third of market makers being destroyed, and a severe blow to the trading platform's balance sheet, causing the entire ecosystem to "limp."Tom Lee also mentioned that the selling pressure has not completely ended, similar to the recovery in 2022 which took 8-12 weeks, but there are currently no obvious signs of a rebound.

According to Bloomberg, cryptocurrency custody company BitGo's IPO on the US stock market is priced at $18 per share, higher than the previous pricing range of $15 to $17. The company is selling 11.8 million shares along with existing shareholders, raising approximately $213 million, with a current market valuation exceeding $2 billion.This IPO is underwritten by Goldman Sachs and Citigroup, and BitGo will be listed on the NYSE this Thursday under the ticker "BTGO," becoming the first cryptocurrency company to complete an IPO in 2026.

According to The Block, Architect Financial Technologies, founded by former FTX US president Brett Harrison, plans to launch perpetual futures contracts linked to GPU and memory pricing.The announcement states that the company's trading platform AX, aimed at institutional users, is set to introduce perpetual futures designed to track the daily rental prices of GPUs used for training and inference of artificial intelligence models, as well as dynamic random-access memory (RAM) pricing, and is currently awaiting regulatory approval. It is reported that these contracts are being developed in collaboration with computing index provider Ornn Data, which provides benchmarks based on real-time GPU trading data.In December last year, Architect Financial Technologies completed a $35 million funding round, with a valuation of approximately $187 million.

According to official social media news, Huobi HTX will hold a themed live broadcast today at 20:00 (UTC+8) titled "When Gold and Silver Hit Historical Highs, Why is Crypto Plummeting: What is the Market Pricing in Advance?" Crypto KOLs such as Rocky, OxPink, DaDa, and Sophie Chen will be invited to discuss the market differentiation phenomenon where gold and silver are reaching new highs while crypto assets are undergoing a phase adjustment. They will delve into changes in macro liquidity, shifts in risk appetite, the logic of capital rotation, and potential forward-looking pricing signals, as well as discuss the current market structure and future trends.

According to CoinDesk, Bitcoin and the broader cryptocurrency market have fallen again, with the BTC price giving back all of last week's gains that rose to $98,000. This cryptocurrency market sell-off is in line with the movements of U.S. stock index futures, with futures linked to the Nasdaq 100 index dropping more than 1.9%, and S&P 500 index futures falling 1.6%.Additionally, the open interest in Bitcoin futures remains stable, and the funding rates for most major tokens are still positive, while the futures open interest (OI) for DOGE, ZEC, and ADA has seen significant declines, indicating capital outflows. On some derivatives platforms, traders are continuously pricing bearish options for BTC and ETH higher than bullish options, with traders pricing the likelihood of BTC falling below $80,000 at 30%.

Digital asset market research firm Delphi Digital stated on the X platform that gold prices have risen by 120% since the beginning of 2024, marking one of the strongest historical increases. This rise has occurred without an economic recession, quantitative easing, or financial crisis, with central banks purchasing over 600 tons of gold in 2025, and purchases expected to reach 840 tons in 2026.As gold historically leads Bitcoin by about three months at liquidity inflection points, this trend is significant for cryptocurrencies. Currently, gold has completed its repricing for the easing cycle, while Bitcoin sentiment is still influenced by previous cycle simulations and recent pullbacks. The performance of precious metal assets is signaling policy easing and fiscal dominance. When precious metals outperform stocks, the market tends to price in currency depreciation rather than growth collapse, and the volatility in the precious metals market may signal subsequent trends for other risk assets.

According to the SEC announcement, the U.S. SEC has initiated a review process for Cboe Exchange's proposed amendment to Rule 5.4(a), which aims to adjust the minimum tick size for Mini Bitcoin U.S. ETF Index (MBTX) options to: $0.01 for contracts priced below $3 and $0.05 for contracts priced at $3 and above.This adjustment is intended to enhance market liquidity and align with the competitive product IBIT options. The SEC will collect public comments before making a final decision on whether to approve the proposal.

According to official social media news, Huobi HTX will hold the fourth live event of the Huobi New Asset God Battle today at 20:00 (UTC+8). This event is themed "Who is Pricing for Next Year? The Threshold for New Asset Godhood is Changing." Traders such as Xiao Zhi, OxPink, 0x31ad, and Xiao Hai will discuss the new asset pricing logic in the crypto market for 2026, changes in listing thresholds, opportunities in popular tracks, and trading strategies, among other topics.

TeraWulf Inc. (NASDAQ: WULF) announced on December 18, 2025, that it has successfully completed the financing pricing for a 168 megawatt high-performance computing (HPC) joint venture project located in the Abilene, Texas park with Fluidstack.The project will build a next-generation liquid-cooled artificial intelligence data center, with a total power capacity of 240 megawatts. The funds raised will be used for construction, establishing reserves, and completing facility delivery, with an expected operational start in the second half of 2026.