Today’s cryptocurrency news (December 11) | SpaceX plans IPO with a $1.5 trillion valuation; a16z Crypto establishes its first Asian office in South Korea

This article summarizes cryptocurrency news as of December 11, 2025, focusing on the latest Bitcoin updates, Ethereum upgrades, Dogecoin trends, real-time crypto prices, and price forecasts. Major Web3 events today include:

1. If SpaceX goes public next year with a valuation of $1.5 trillion, Elon Musk may become the world’s first “trillionaire”

According to Bloomberg Billionaires Index estimates, if Musk’s aerospace company SpaceX successfully goes public next year with a valuation of $1.5 trillion, his personal net worth would surge from the current $460.6 billion to approximately $952 billion, just one step away from becoming the world’s first “trillionaire.” Currently, Musk owns about 42% of SpaceX. Based on an estimated pre-IPO valuation of $1.5 trillion, his stake alone would be worth over $625 billion, far exceeding the current approximately $136 billion. This does not include his multi-billion dollar holdings in several other companies, including the world’s largest automaker Tesla.

2. Payment giant Stripe acquires Valora wallet team to expand its stablecoin services

Payment giant Stripe recently acquired the team from crypto startup Valora to expand its stablecoin offerings.

On Wednesday, Valora founder Jackie Bona announced that the team will join Stripe “to fulfill the mission of expanding the global financial system.” The terms of the deal have not been disclosed, including how many Valora employees will join Stripe. Valora launched in 2021, developing a mobile-first, self-custodied crypto wallet app focused on stablecoins on the blockchain. According to Bona, Stripe’s acquisition seems not to include the intellectual property behind Valora’s technology; the app will “return to its original parent company cLabs, which will continue to oversee its future development.”

3. a16z Crypto opens first Asian office in South Korea

Venture capital firm a16z Crypto announced it will open an office in Seoul, South Korea, becoming its first base in Asia. COO Anthony Albanese stated that Asia now accounts for a significant share of global crypto activity. A16z plans to continue expanding its presence in Asia over the coming years, providing more support to local crypto companies and exploring further geographical expansion opportunities.

4. State Street and Galaxy will launch tokenized liquidity fund on Solana in 2026

State Street and Galaxy Asset Management announced they will launch the tokenized liquidity fund SWEEP in early 2026 on Solana, providing qualified institutions with 24/7 on-chain liquidity management.

The fund will use PayPal’s stablecoin PYUSD for subscriptions and redemptions, with Ondo Finance committing approximately $200 million as initial capital. After launch on Solana, SWEEP will expand to Stellar and Ethereum, utilizing Chainlink technology for cross-chain data and asset handling.

5. Data: Insider whale “1011” increased ETH long positions by 20,000 ETH ahead of Federal Reserve rate decision

According to Hyperinsight monitoring, the “1011 insider whale” again massively increased its ETH long positions between 1:32 and 2:32 am Beijing time, accumulating 20,000 ETH. Its current 5x leverage ETH long position now totals 100,985 ETH, approximately valued at $335 million, with unrealized gains of $17.05 million (+25.45%). Entry average price is $3,158, with liquidation at as low as $2,015.

6. Michael Saylor: Restricting passive index investment in BTC is akin to historical restrictions on oil fields, spectrum, or data centers

Strategy Executive Chairman Michael Saylor wrote that restricting passive index allocations to Bitcoin now would be as inappropriate as restricting investments in oil and wells in the 1900s, spectrum and towers in the 1980s, or computing power and data centers in the 2000s. Saylor emphasized that Bitcoin has become a new generation of digital credit and value infrastructure, and hindering institutional passive allocation would run counter to historical innovation cycles.

7. US OCC warns Wall Street that “debanking” digital asset industry is “illegal”

According to CoinDesk, former President Trump has taken action against the US’s “debanking” measures targeting controversial sectors like digital assets, prompting the Office of the Comptroller of the Currency (OCC) to release a new report. The report further confirms past practices and warns that banks involved may face penalties. It reviews nine of the largest US national banks, concluding that “from 2020 to 2023, these banks have publicly and privately implemented policies restricting certain industry services, including enhanced review and approval before providing financial services.” Some large banks set higher entry barriers for contentious or environmentally sensitive activities or those conflicting with their values. Major financial giants like JPMorgan, Bank of America, and Citigroup are specifically mentioned, with links to their past public policies, especially on environmental issues. The report states: “The OCC intends to hold these banks accountable for any illegal ‘debanking’ activities, including referring relevant cases to the Attorney General.” It remains unclear which specific laws might be violated.

8. Ethereum treasury company ETHZilla plans to redeem $516 million in convertible bonds early by year’s end

ETHZilla, an Ethereum treasury company, announced plans to fully redeem $516 million in convertible bonds before December 30, 2025. The redemption price will be 117% of the outstanding principal (plus all accrued interest and other payable amounts). ETHZilla stated it will fund this early redemption by releasing restricted cash held as collateral.

9. Multiple whale consensus: Lighter platform will airdrop within 3 weeks

According to polybeats, the decentralized perpetual swap trading platform Lighter is in the critical countdown stage for TGE and airdrop. Since mid-year, Lighter and its CEO have hinted on social media about major upcoming events, including ending the second-quarter points program before year-end and the CEO’s statement “The holidays will be lit this year.” The community interprets this as a clear signal for TGE and airdrop, supporting predictions since June on whether Lighter will airdrop before December 31. Even with only three weeks remaining, the probability remains high at 77%. Responding to community optimism, five whale traders have shown strong trust with real funds. Accounts like jami116, jeetventures, munji, iamweetarded have all placed bets on their sole positions on Polymarket. They bought “Yes” shares when the probability was around 80%, with a total investment close to $150,000.

10. Trump Gold Card officially launched, individuals pay $1 million, “Platinum Card” planned

The “Trump Gold Card” is now officially available. Since December 10, the US government has been accepting applications for the “Trump Gold Card” visa program, with individuals paying $1 million and companies $2 million to obtain US residency. Applicants must also pay an additional $15,000 for processing and review fees. Additionally, the US government will introduce a “Platinum Card” priced at $5 million, currently marked as “coming soon” on official websites. (Washington Times)

11. Elon Musk confirms SpaceX IPO is imminent and announces no longer participating in DOGE Government Efficiency Department

Elon Musk recently issued two major signals within hours: first, confirming that SpaceX is accelerating toward going public; second, clearly stating he will no longer participate in the Doge Government Efficiency Department (DOGE) project. This has been interpreted as Musk’s full return to business after turbulent political cycles.

He made these statements in response to an article by space journalist Eric Berger about SpaceX’s imminent IPO. Musk replied, “Eric is right,” which is his first public acknowledgment of the IPO plan. Berger, one of the best-informed reporters on SpaceX, is often seen as an industry bellwether.

According to Bloomberg, SpaceX’s IPO target valuation is as high as $1.5 trillion, with fundraising exceeding $30 billion, potentially making it the largest IPO in history. The company aims to go public as early as mid-2026, though market conditions might delay it to 2027. Currently, on the secondary market, SpaceX stock trades around $420 per share, valuing the company at over $800 billion.

The core driver for SpaceX’s IPO is the rapid growth of Starlink. The company expects revenue of $15 billion in 2025, rising to $22–24 billion in 2026, mostly from satellite internet services. SpaceX plans to use the proceeds to develop space data centers and purchase AI chips for operations.

SpaceX’s scarcity also spurred tokenized investment channels. In June, Robinhood issued SpaceX tokenized stocks to users in its EU crypto app, sparking market discussion. These tokens are based on Arbitrum and include rewards worth over a million dollars.

Meanwhile, Musk stated on another podcast that he will not re-engage with DOGE (Government Efficiency Department) nor push Dogecoin further. He said directly that instead of investing effort in Dogecoin, he prefers to focus on his companies, “at least so the cars don’t get burned.” This alludes to earlier incidents during his government reform efforts when Tesla facilities faced destruction.

Musk claims his brief government tenure was “somewhat successful,” though Dogecoin’s website claims to have cut expenses by $21.4 billion, with independent analysts suggesting savings are much higher. In June, Musk and his former allies fully broke apart over opposition to Trump’s tax and spending bills.

With SpaceX preparing for IPO and DOGE project stepping back, industry consensus is that Musk’s future focus will shift back to space, electric vehicles, and AI, rather than politics.

12. 21Shares releases 2026 crypto market outlook: stablecoin supply to grow 3.3x to $1 trillion

According to Globenewswire, 21Shares released its 2026 crypto outlook report with key forecasts:

• Bitcoin will end its traditional four-year cycle, shifting toward a mature macro asset driven by structural capital inflows, macro adjustments, and regulatory clarity;
• Global crypto ETP asset management will grow from over $250 billion to $400 billion, outperforming the Nasdaq 100 ETF;
• Stablecoin supply will increase from $300 billion in 2025 by 3.3 times to $1 trillion;
• Market trading volume will surpass $100 billion annually;
• Tokenized real-world assets (RWA) total locked value will rise from $35 billion to over $500 billion.

Chief Investment Officer Adrian Fritz stated that cryptocurrencies are shifting from fringe finance to core infrastructure, becoming an integral part of the global financial system.

13. BitMine increases Ethereum holdings by $112 million, Tom Lee says ETH has bottomed and will rebound strongly

Led by Fundstrat co-founder Tom Lee, Ethereum treasury firm BitMine has made another substantial ETH purchase. According to EmberCN citing Arkham data, on Wednesday, BitMine bought 33,504 ETH via FalconX, worth about $112 million. Although the company has not officially confirmed the trade, its recent accumulation pattern aligns with its strategic goals.

BitMine is one of the largest Ethereum treasury institutions globally, continuously expanding holdings this year, reaffirming its long-term goal to hold 5% of ETH’s total supply. Its latest 8-K filing shows that as of December 7, BitMine owns 3,864,951 ETH, 193 BTC, $1 billion in cash, and $36 million worth of Eightco Holdings shares (related to Worldcoin WLD).

Tom Lee remains bullish on Ethereum. Last month, he predicted ETH’s market bottom at $2,500, expecting a rebound to $7,000–9,000 by late January 2025. Recently on Farokh Radio, Lee emphasized: “We believe Ethereum has bottomed; compared to two weeks ago, our ETH holdings have doubled.”

On macro data, the Fed announced a 25 basis point rate cut Wednesday, but Powell’s hawkish signals unsettled markets, causing crypto and stocks to diverge. Bitcoin and Ethereum both retreated, with ETH at $3,186, down 4.29% over 24 hours.

Before Powell’s speech, Lee told CNBC that even if the Fed remains hawkish, crypto trends will reverse by early 2026. He highlighted two key factors: first, a dovish shift with a new Fed chair; second, US ISM index returning above 50, indicating economic expansion—historically associated with crypto “super cycles.”

Currently, Bitcoin is at $90,028, down 2.82% over 24 hours; Ethereum’s decline is steeper. However, continued institutional accumulation and macro improvement offer potential support for ETH’s medium- to long-term trend. (The Block)

14. The Big Short author Michael Burry warns Fed’s $40 billion debt purchase could worsen financial fragility, Bitcoin faces downside risk

Michael Burry, author of The Big Short and well-known investor, recently issued a strong warning regarding the Fed’s plan to buy $40 billion worth of T-bills within a month. He believes this move exposes the structural fragility of the US banking system rather than stability as perceived. It may also exert new downward pressure on Bitcoin (BTC) and the broader crypto market.

Fed Chair Powell stated the debt purchases are “reserve management” rather than QE. But Burry points out that the Fed’s continued balance sheet expansion amid banking strain indicates markets remain dependent on liquidity. He emphasizes that US bank reserves now exceed $3 trillion, well above the $2.2 trillion before the regional banking crisis in 2023. He warns that if the banking system must rely on such a “lifeline” of liquidity, it’s more fragile than strong.

Burry further notes that after QT ended, the Fed reintroduced liquidity via repos, causing short-term rebounds in crypto assets—yet this is not healthy recovery. He advises caution regarding recent bank stock recommendations on Wall Street and prefers reallocating funds above FDIC insurance limits into US Treasury money market funds (TMF).

Meanwhile, the US Treasury is increasing short-term debt issuance, while the Fed is buying these short bonds to prevent yields on 10-year Treasuries from rising. Market analysts see ongoing volatility in the repo market, with potential for more aggressive liquidity measures by year-end.

In the macro context, crypto markets are under pressure as well. Bitcoin has declined over 2% in the 24 hours before options expiry, touching lows of $89,459, now hovering near $90,000. Analysts warn that Bitcoin has not regained the $93,000–$94,000 range and may further fall to $85,000 support. On-chain data shows increased miner selling, including Marathon Digital dumping 275 BTC worth over $25.3 million, adding to downward sentiment.

Overall, macro liquidity shifts and banking sector risk signals are reshaping market expectations. Burry’s warning highlights potential financial vulnerabilities, with Bitcoin’s short-term trajectory remaining under pressure.

15. Satoshi Nakamoto statue erected outside NYSE, symbolizing crypto’s full entry into mainstream finance

A bronze statue of Bitcoin’s creator Satoshi Nakamoto has been officially installed outside the New York Stock Exchange (NYSE). This symbolic act is considered a milestone in crypto’s development, marking the transition from initial controversy and skepticism to acceptance by traditional finance.

The statue depicts Satoshi sitting at a computer, holding a notebook, representing the anonymous creator, technological innovation, and decentralization. Its placement outside the NYSE carries profound significance, directly linking crypto to the traditional financial system and sending a message to global investors: digital assets are now an important force in the world’s financial markets.

Since Bitcoin’s inception in 2009, attitudes have undergone tremendous change—from being seen as a risky, unstable “speculative asset” to gaining recognition from major institutions and governments as a financial innovation. With Bitcoin ETFs approved, stablecoins expanding rapidly, and asset tokenization becoming mainstream, digital assets are accelerating their integration into the global financial infrastructure.

The Satoshi Nakamoto statue not only commemorates Bitcoin’s creator but also serves educational and popularization purposes, helping visitors understand blockchain, DeFi, and digital assets’ mechanisms. Experts suggest the statue symbolizes further institutional acceptance of crypto and reflects its evolving role in the global economy. It clearly signals: cryptocurrencies are landing on Wall Street, and their influence will accelerate in the coming years.

Overall, the installation of the Satoshi Nakamoto statue marks an important stage in crypto’s development and establishes a new symbol for future market expansion. As crypto adoption continues, its impact on the financial system will deepen.