Vincent Chung, a portfolio manager at T. Rowe Price, said the Bank of Japan may raise interest rates more aggressively than the market expects. Japan's economy is performing slightly better than generally anticipated, although some slowdown is evident. Importantly, inflation remains persistent, and we continue to see upward pressure on wages. The market recently shifted its expectations for the next BOJ rate hike from January to this month, and current market pricing suggests only one rate hike is expected in 2026. T. Rowe Price believes there could be two rate hikes next year. (Jinshi)

2025 saw many milestones in the crypto industry, with increasingly clear policies driving large-scale institutional entry, but also accompanied by hacker attacks and market volatility. The following is a timeline of the most noteworthy industry events of the year.

According to BlockBeats, SlowMist's Cosine reported on the X platform that the SlowMist team has identified serious vulnerabilities in two trading platforms, which directly impact the security of funds. Attempts to contact the platforms have been unsuccessful, and public outreach has also yielded no response. Cosine noted that one platform has a 24-hour trading volume of $3.7 billion, while the other has a volume of $240 million. A tweet from the SlowMist team account indicated that they had proactively reached out to a trading platform named 'ICRYPEX Global' the previous day.

Bitcoin’s price swings are becoming more restrained, with the cryptocurrency now showing lower volatility than Nvidia shares in 2025. source: https://cryptonews.com/news/bitcoin-now-less-volatile-than-nvidia-as-investor-base-broadens-says-bitwise/

According to PANews, Jeff Dorman, Chief Investment Officer at Arca, has highlighted a significant disconnect between Bitcoin as an investment asset and the overall growth of the blockchain ecosystem. While stablecoins, real-world asset tokenization (RWA), and the decentralized finance (DeFi) sector are experiencing rapid growth, discussions in Wall Street and fintech circles are more focused on leveraging stablecoins and RWA for issuance and fee collection rather than direct investment. Despite this, most investors remain focused on Bitcoin, leading to limited research and discussion on token value within Wall Street. Although some institutions, like Cantor Fitzgerald, have begun exploring token research, token investment has yet to become mainstream, and related sales and promotional efforts have not gained traction. Many new investors mistakenly believe that investing in Bitcoin alone captures the growth opportunities within the blockchain sector. However, Bitcoin is not directly linked to the growth of decentralized finance, stablecoins, and RWA. Nevertheless, Bitcoin continues to dominate capital flows and price trends. It remains uncertain when this situation might change, but investors generally prefer to enter the market during price corrections, often overlooking the potential value in other areas of the blockchain sector.

According to BlockBeats, UBS analysis indicates that recent employment data reveals underlying weaknesses in the U.S. labor market, potentially supporting further interest rate cuts by the Federal Reserve early next year. UBS Chief Economist Paul Donovan highlighted in a report to clients that the data raises multiple concerns. The quality of the data should be approached with caution due to the government shutdown exacerbating low response rates in Bureau of Labor Statistics surveys. Elyse Ausenbaugh, Investment Strategy Director at Morgan Wealth Management, concurs that the October data is particularly troubling. She noted that the report reinforces the market's perception of the Federal Reserve's current policy direction. The precautionary rate cuts over the past few months have prudently brought rates back to a more neutral level. Ausenbaugh suggests that another rate cut in the first quarter of 2026 might be appropriate, although the economy remains stable, allowing the Federal Reserve to patiently observe future developments.

null source: https://x.com/DaanCrypto/status/2001552959658758636

null source: https://x.com/wublockchain/status/2001551896604217387

null source: https://x.com/reutersbiz/status/2001551808863285488

null source: https://x.com/reutersbiz/status/2001551776462393763

According to ChainCatcher, Arkham analyst Emmett Gallic has reported that the 'BTC OG Insider Whale' unstaked 449,000 ETH last night, bringing their total holdings to 615,000 ETH. Previously, this entity had unstaked a portion of their ETH eight days before publicly going long.

A Singaporean investor lost S$100,000 after downloading a beta game launcher that contained malware, which emptied his crypto wallets. Despite using strong security measures, he was targeted by a sophisticated scam, highlighting risks for crypto users.

Hong Kong Prosecutors have asked for more time to organize the sprawling evidence collected during the two-year investigation.

Tax authorities have recently increased their scrutiny of overseas investments by Chinese residents. This article, from the perspective of those working in the crypto industry, provides actionable suggestions for compliance self-assessment and reporting.

The window of opportunity for stablecoins is closing. More institutionally backed stablecoins may emerge in the future, but the landscape of stablecoins with the potential for widespread adoption across the entire industry ecosystem, such as USDC and USDT, has largely solidified.

Pantera partner Paul Veradittakit made nine predictions for the crypto industry in 2026, including RWA assets, continued institutional expansion, prediction markets, and the application of artificial intelligence.

A Singaporean man accused of leading a major crypto fraud ring returned to a US court as plea talks with prosecutors continued. The case has expanded with more arrests and charges, while lawyers work towards a possible deal.

To address structural imbalances, a forced devaluation of the US dollar may be imminent. In this new round of financial repression, the market will ultimately determine which assets or markets qualify as "stores of value."

Bitcoin (BTC) may have endured a sharp pullback in the final quarter of the year, but the sell-off has only reinforced its position as the crypto market’s most resilient and indispensable asset. When leverage unwound and risk appetite vanished, Bitcoin once again stood apart—outperforming the broader market even as prices fell.

Vaults are non-custodial blockchain infrastructures that enable functionalities that are not available in traditional finance.