Binance has signed a memorandum of understanding with Pakistan and plans to explore the tokenization of up to $2 billion worth of bonds, treasury bills, and commodity reserves in Pakistan. Pakistan's Ministry of Finance stated that the initiative could pave the way for the tokenization of more government-held real-world assets and their distribution on blockchain-based platforms. This comes a day after Bilal Bin Saqib, chairman of the Virtual Asset Regulatory Authority of Pakistan (VARA), announced in a video interview with CoinDesk that Pakistan plans to accelerate cryptocurrency adoption, utilize Bitcoin mining, and launch a national stablecoin. (Coindesk)

According to The Block, the L1 blockchain project Fogo has cancelled its planned $20 million token pre-sale (representing 2% of the total supply). Instead, the FOGO tokens intended for the pre-sale will be airdropped to the community, and the 2% originally allocated to core contributors will be burned. According to the token economics model, 38.98% of the tokens will be unlocked when the network launches on January 13th. This includes immediately tradable airdrop shares, tokens for foundation operations, and core contributor shares unlocked in installments. The token allocation is approximately 1/3 for the foundation, 34% for core contributors (locked for four years), 8.77% for institutional investors, 7% for advisors, and 11.25% for the community.

According to on-chain analyst Yu Jin, following the overnight drop, the "$230 million long whale" is currently experiencing a floating loss of $17.1 million. However, after the overnight drop, the whale added another 24,000 ETH to its long position, bringing its total position to $666 million. Currently, all three long positions are at a loss: 175,000 ETH ($542 million) long, opened at $3,173, now showing a floating loss of $14.6 million; 1,000 BTC ($90.28 million) long, opened at $91,506, now showing a floating loss of $1.22 million; and 250,000 SOL ($33.1 million) long, opened at $137.5, now showing a floating loss of $1.27 million.

According to PANews, a significant market player known as the 'whale' is experiencing substantial losses following a recent market downturn. The whale, who initially invested $230 million in long positions, is currently facing a floating loss of $17.1 million. Despite the losses, the whale has increased their holdings by adding 24,000 ETH to their long positions, bringing the total position value to $666 million. Currently, all three of the whale's long positions are in a state of floating loss. The positions include 175,000 ETH valued at $542 million, with an entry price of $3,173 per ETH, resulting in a loss of $14.6 million. Additionally, the whale holds 1,000 BTC valued at $90.28 million, with an entry price of $91,506 per BTC, leading to a loss of $1.22 million. Lastly, the whale has 250,000 SOL valued at $33.1 million, with an entry price of $137.5 per SOL, incurring a loss of $1.27 million.

Five digital asset companies received conditional approval from the Office of the Comptroller of the Currency (OCC) on Friday to become federally chartered trust banks. The approved companies include blockchain company Ripple, Circle's First National Digital Currency Bank, BitGo, Fidelity Digital Assets, and Paxos. These companies previously operated under state charters and will now be converted to conditional federal charters. The OCC is the only federal agency that charters banks and trusts. OCC Chief Executive Jonathan Gould stated that the OCC will continue to provide pathways for both traditional and innovative approaches to financial services to ensure the federal banking system keeps pace with financial developments and supports the modern economy. (Coindesk)

Tether plans to acquire a 65.4% stake in Juventus in an all-cash deal, with a planned investment of €1 billion to support the club's development and a commitment to long-term investment.

BitGo obtains conditional OCC approval to become a national trust bank, enabling broader crypto services. source: https://coincu.com/news/bitgo-occ-national-trust-bank/

According to Odaily, Citadel Securities recently submitted a 13-page letter to the SEC advocating for stricter regulations on decentralized finance (DeFi) protocols handling tokenized securities. In response, the DeFi industry issued its own letter last Friday, challenging Citadel Securities' arguments as "unfounded." The new letter to the SEC, signed by DeFi Education Fund, Andreessen Horowitz (a16z), DigitalChamber, Orca Creative, J.W. Verret, and Uniswap Foundation, stated, "While we share Citadel Securities' goals of investor protection, market order, and the integrity of the national market system, we disagree that achieving these goals always requires registration like traditional SEC intermediaries, nor do we agree that these requirements cannot be met through well-designed on-chain markets in certain cases." Citadel Securities argues that DeFi protocols might operate as exchanges or brokers requiring registration and regulation. However, under U.S. President Donald Trump's administration, the SEC's new leadership has been seeking more policy flexibility for the crypto industry. White House crypto advisor Patrick Witt also expressed support on social media platform X for "the necessity of protecting software developers and DeFi." A spokesperson for Citadel Securities commented via email, "As detailed in our comment letter, Citadel Securities strongly supports tokenization and other innovations that can strengthen America's leadership in digital finance, but this does not mean sacrificing stringent investor protection measures, which make the U.S. stock market the global gold standard." The DeFi alliance's response claimed that Citadel Securities' letter contained "multiple factual misstatements and misleading claims." Jennifer Rosenthal, a spokesperson for DeFi Education Fund, stated that the company is safeguarding its commercial interests. Rosenthal remarked, "Citadel Securities questions the existence of a technology that threatens its business and significant market share, which aligns with its interests."

XRP has entered a short-term decline, trading close to its lowest price levels of the year. Price action remains under pressure, reflecting broader market caution and limited upside momentum in the near term. Despite this weakness, trading activity tells a different story beneath the surface source: https://www.ethnews.com/xrp-whales-step-in-as-price-slides-toward-yearly-lows/

Following a 13-page letter to the SEC from investment giant Citadel Securities suggesting stricter regulation of decentralized finance (DeFi) protocols that handle tokenized securities, the DeFi industry responded last Friday with its own letter, calling Citadel Securities' arguments "baseless." The new letter, jointly signed by the DeFi Education Fund, Andreessen Horowitz (a16z), DigitalChamber, Orca Creative, lawyer J.W. Verret, and the Uniswap Foundation, stated: "While we share Citadel Securities' goals regarding investor protection, market order, and the integrity of national market systems, we disagree that achieving these goals always requires registration like traditional SEC intermediaries, and we also disagree that in some cases these requirements cannot be met through well-designed on-chain markets." Citadel Securities argued that DeFi protocols could potentially operate as exchanges or brokers requiring registration and regulation. However, under President Donald Trump, the new SEC leadership has been seeking more policy leeway for the crypto industry. White House crypto advisor Patrick Witt also posted on social media platform X, stating that his office supports the "necessity of protecting software developers and DeFi." A spokesperson for Citadel Securities stated in an email comment, "As we detailed in our comment letter, Citadel Securities strongly supports tokenization and other innovations that can solidify the U.S. leadership in digital finance, but this does not mean sacrificing stringent investor protections that make the U.S. stock market the global gold standard." The DeFi Alliance responded that Citadel Securities' letter contained "numerous factual errors and misleading statements." Jennifer Rosenthal, a spokesperson for the DeFi Education Fund, stated that the company is protecting its business interests. Rosenthal said, "It is in Citadel Securities' interest to question the existence of a technology that threatens its business and significant market share."

Remittances have always been reliable and fast across the Atlantic. This may be one reason why Americans are happy to accept "stablecoins" as an alternative to the banking system.

Jinse Finance launches the "Jinse Web3.0 Daily," providing you with the latest and fastest news on MEME, DeFi, DAO, NFT, and the metaverse industry.

For platforms with a large user base, stablecoins are not just cross-border payment tools, but a fundamental financial track that can reshape revenue structures and user relationships.

RWA's Hong Kong pilot program sparks heated discussion: How can RWA be transformed from a concept into a real asset? Jinse Finance explores how Hong Kong is building a practical path for the implementation of RWA through pilot programs.

Coinbase-incubated open-source payment protocol x402 has released version 2. This is the first major version iteration since its mainnet launch in May 2025.

The Bolivian government has announced a major policy—integrating stablecoins into its formal financial system, allowing them to be used "as a legal tender."

Binance, cryptocurrency, Hash Global founder KK discusses BNB digital asset allocation and Web3 development stage. Golden Finance reports, "In the future, all assets will be issued and traded on-chain."

x402 Protocol, AI Agent, Payment: Let's talk about the x402 V2 upgrade and share some key points. Golden Finance shares several key aspects of the x402 protocol V2 upgrade.

What are the implications of the frequent regulatory actions taken by the US SEC and OCC? This article from Jinse Finance focuses on the recent regulatory actions of the US SEC and OCC.

Coinbase has released version 2 of the x402 protocol. This version optimizes upon version 1, expanding from a single-call payment to a unified internet payment layer.