[Bitpush Daily News Highlights] U.S. Treasury debt surpasses $30 trillion, doubling since 2018; Polymarket is recruiting new employees to build an internal market-making team; Acting Chairman of the U.S. CFTC: Spot cryptocurrencies can now be traded on CFTC-registered exchanges.

Web3 News Curated Daily by the Bitpush Editor:

[U.S. Treasury Debt Surpasses $30 Trillion, Doubles Since 2018]

Bitpush News: The total sovereign debt issued by the U.S. Treasury has surpassed $30 trillion for the first time, more than doubling since 2018. Data released Thursday shows that as of November, the total outstanding Treasury bills, notes, and bonds reached $30.2 trillion. This $30.2 trillion in debt is the main component of the total U.S. federal debt. As of November, the total U.S. national debt stood at $38.4 trillion, which includes obligations to Social Security trust funds, savings bondholders, and others.

According to data from the Securities Industry and Financial Markets Association, in 2020, the U.S. raised $4.3 trillion by issuing these three types of Treasuries, with a fiscal deficit exceeding $3 trillion that year. Although the deficit has since narrowed (dropping to about $1.78 trillion in the 2025 fiscal year), interest payments alone amount to $1.2 trillion. Jason Williams, a rates strategist at Citigroup, pointed out: “The biggest challenge is interest expenses. Even if tariff revenues reach $300-400 billion, it’s still far less than what we pay on our existing debt. We’re like we’re stuck in quicksand; tariffs might slow our sinking, but we’re still sinking.”

[Polymarket Recruiting New Staff to Form In-House Market Making Team]

Bitpush News: Polymarket is hiring new team members to form an in-house market making team, which may trade with customers on the company’s trading platform. Although similar functions have drawn criticism for its main competitors. Sources revealed that the company has recently held talks with several traders, including sports betting traders, to invite them to join this new department. Polymarket declined to comment.

However, Kalshi already operates a department called Kalshi Trading, which makes quotes on the trading platform, effectively acting as the counterparty for some customer trades. While Kalshi executives say the department is designed to add liquidity and improve customer experience, critics argue its market making efforts pose a conflict of interest with clients, making it look like a traditional sports betting company. A proposed class action filed last month alleges that odds set by Kalshi Trading are unfavorable to customers.

[CFTC Acting Chair: Spot Crypto Can Now Be Traded on CFTC-Registered Exchanges]

Bitpush News: Caroline D. Pham, Acting Chair of the U.S. Commodity Futures Trading Commission (CFTC), announced today that listed spot crypto products will, for the first time, begin trading on federally regulated U.S. markets at CFTC-registered futures exchanges. Today’s announcement follows recommendations from the President’s Working Group on Financial Markets regarding digital assets and incorporates insights from stakeholders obtained via the CFTC’s “Crypto Sprint” initiative, as well as outcomes from cooperation with the U.S. Securities and Exchange Commission.

The “Crypto Sprint” initiative has also launched public consultations on all other CFTC-related recommendations from the President’s Working Group report. Other facets of the program include enabling tokenized collateral (including stablecoins) in derivatives markets, and proposing technical amendments to CFTC regulations regarding collateral, margin, clearing, settlement, reporting, and recordkeeping, to facilitate the use of blockchain technology and market infrastructure, including tokenization, in our markets.

[Analyst: Bitcoin May Continue to Dip Below $95K by Year-End, Altcoins May Benefit]

Bitpush News: Paul Howard, Senior Director at trading firm Wincent, stated in a report that despite some pullback, Bitcoin remains above the support formed earlier this week around $85,000, indicating the market may be entering a consolidation phase as year-end liquidity thins. Bitcoin may continue to dip below $95,000 by year-end, with altcoins potentially benefiting.

Howard said: “Absent major macroeconomic news, BTC is expected to continue oscillating between $85,000 and $95,000 for the rest of the month. Altcoins may see some excess returns, as they typically perform well in low-liquidity, high-volatility environments.”

[SoFi Plans $1.5 Billion Equity Offering to Expand Product Lines]

Bitpush News: Fintech company SoFi Technologies is seeking to raise $1.5 billion through a new stock offering to expand its product lines beyond lending.

According to a statement, the company is working with Goldman Sachs on the offering. Sources say the price range is $27.50 to $28.50 per share, a discount of up to about 7.1% from Thursday’s closing price of $29.60.

[Coinbase-Incubated Ethereum L2 Base Launches Solana Asset Bridge]

Bitpush News: Base, the Ethereum Layer 2 network incubated by Coinbase, has officially launched its cross-chain bridge service, supporting native Solana ecosystem assets and allowing assets on Base to be bridged to Solana. The cross-chain infrastructure is powered by Chainlink’s Cross-Chain Interoperability Protocol (CCIP), aiming to enable secure connectivity between the two ecosystems.