Daily Market Wrap | Dec. 18

Hot Topics

• DTCC launches tokenized U.S. Treasury pilot on Canton Network post-SEC no-action letter, starting H1 2026.
• Aave founder Stani Kulechov unveils 2026 'master plan' as SEC closes 4-year probe without action.
• Fed withdraws 2023 policy restricting state banks' novel crypto activities, issuing flexible 2025 guidance for innovation.

Market Updates

• VivoPower's joint venture with Lean Ventures targets $300M in Ripple Labs shares, providing ~$900M indirect XRP exposure for Korean investors.
• CFTC Acting Chair Caroline Pham to join MoonPay as Chief Legal and Administrative Officer after Mike Selig's confirmation.
• Hyper Foundation proposes validator vote to recognize ~37M HYPE (~$1B) in Assistance Fund as burned, removing from supply.