Hyperliquid governance vote aims to permanently sideline $1B Assistance Fund

Although Shiba Inu is no longer in free fall, it would be premature to declare this to be the bottom. Currently, the chart displays stabilization rather than strength. In comparison to the October-November leg, the price has flattened following a protracted downtrend, volatility has decreased and selling pressure has obviously subsided.

SHIB stays down

In technical terms, SHIB remains below all significant moving averages. The long-term EMA overhead is still very bearish, indicating that the prevailing trend has not reversed. At first, any recovery from this point would be remedial rather than a reversal of the trend. That is an important distinction. Bounces inside downtrends are common and frequently mistaken for the bottom. Chart by TradingView">

The RSI is in the low to mid-40s, indicating a lack of significant momentum but not a severe oversold situation. The market is weary but not completely flushed, which is consistent with price behavior. You would anticipate either a violent rejection or a sharp volume spike if this were a true capitulation zone. Neither has yet to occur.

Key factor for price

In the future, volume will be the most important factor. It is not very loud right now. That encourages stabilization, but it also leaves room for another leg to fall. SHIB would require fresh selling pressure, either brought on by a sudden liquidity event or more general market weakness, in order to break significantly lower. In the absence of that, the price is more likely to cut sideways and gradually establish a base.

Although it is contingent, the possibility of another crash is still present. SHIB will not be exempt if Bitcoin or the larger market collapses. Because there is not much demand in this situation, support might quickly give way. The path of least resistance, however, is consolidation followed by a relief bounce when there is no external stress.

One of two things is probably going to happen next: either a final downside sweep intended to cause late stop-losses prior to a recovery, or a slow grind higher toward the closest moving averages as short sellers unwind. Zero is not an option because this market does not function mechanically or structurally that way. The true question is not "Can SHIB recover?" but rather whether a final flush is necessary to finish it cleanly.

As Bitcoin coils near a critical turning point, capital is beginning to rotate toward altcoins with the cleanest continuation structures. Ethereum, Solana, and Avalanche are all trading near key technical zones in the short term, but beneath the surface, their setups diverge meaningfully. When volatility compresses at the market level, relative structure matters. This comparison focuses on which altcoin is best positioned to lead once expansion returns.

Ethereum : Strong Base, But Momentum Lags

Ethereum continues to respect its rising daily trend support, with higher lows intact on both the 4H and daily timeframes. However, the ETH price remains capped below its near-term resistance zone, with momentum indicators struggling to expand decisively.

0906 GMT - Bitcoin falls as the latest U.S. jobs data weren't soft enough to materially alter interest-rate cut expectations for the Federal Reserve. The data Tuesday showed the unemployment rate rose to 4.6% in November, above expectations and the highest level in more than four years. However, nonfarm payrolls exceeded forecasts, rising 64,000 in November. The data were delayed due to the recent government shutdown. Fed Chair Jerome Powell has warned data could be distorted due to the shutdown. Markets continue to price in about two 25 basis points rate cuts in 2026, LSEG data show. Bitcoin falls 1.6% to $86,422, according to LSEG. (renae.dyer@wsj.com)

0904 GMT - The European Central Bank's GDP and inflation forecasts at Thursday meeting will likely point to unchanged policy rates next year, Oddo BHF's Bruno Cavalier says in a note. "Even if the ECB no longer gives explicit guidance, the staff's new set of projections is likely to justify a prolonged status quo throughout 2026," the chief economist says. If the ECB were to deviate, it would be more likely to do so by lowering rates than by raising them, he says. (emese.bartha@wsj.com)

0838 GMT - European indexes are up at the bell led by energy companies gaining after President Trump announced a U.S. blockade of sanctioned oil tankers entering and leaving Venezuela. Financials also rise ahead of a busy day of central bank decisions Thursday. The FTSE 100 rises 0.95%, pushed up by gains for energy firms and banks following the U.K.'s lower-than-expected inflation print. BP and Anglo American both rise around 1.8%, while HSBC rises 2.5%. Energy companies also spur the German Dax to an early 0.3% gain, with Siemens rising 1.9%. Spain's IBEX 35 gains 0.4%, while the Italian FTSE MIB jumps 0.6%. Banks and energy companies also send France's CAC 40 0.1% higher, though luxuries drag on the index.(josephmichael.stonor@wsj.com)

0831 GMT - Yields on U.K. government bonds fall after weaker-than-expected U.K. inflation data increase prospects of interest-rate cuts by the Bank of England, with a reduction on Thursday looking all but certain. Ten-year gilt yields fall to a 12-day low after U.K. annual headline inflation eased to 3.2% in November, weaker than the 3.5% consensus forecast by economists in a WSJ poll. "A rate cut [on Thursday] would signal the start of an easing cycle aimed at supporting demand, and markets have moved quickly to price that in," eToro's Lale Akoner says in a note. Ten-year gilt yields fall around 6 basis points to last trade at 4.457%, having touched a low of 4.447% shortly after opening, Tradeweb data show. (miriam.mukuru@wsj.com)

0812 GMT - Emerging-market GDP growth will likely slow to around 3.5% in 2026-27, the weakest rate in the past three decades, according to Capital Economics in a research note. "Much of this is due to weakness in China's economy, which is no longer an emerging-market outperformer," CE says. Growth in other large economies, like Brazil and Russia, are also likely to remain weak, it adds. By comparison, India and parts of Southeast Asia may see accelerating growth, CE adds. Equity markets in emerging markets are likely to perform well next year, although a "repeat of this year's stellar outperformance is unlikely", it says. (tracy.qu@wsj.com)

0811 GMT - China's fiscal stimulus is expected to be front-loaded in 1H, and will likely be primarily driven by higher government bond issuance, Eastspring Investments CIO Vis Nayar and Chief Economist Ray Farris say in a note. They note that November's economic data showed persistent weakness in domestic demand, which puts much of the burden of economic support on policy measures. Language from the recent central government economic work conference signaling a more proactive fiscal stance and moderately loose monetary policy was broadly in line with expectations, reinforcing policy continuity, they add. Eastspring expects China's augmented fiscal deficit to widen by 0.8 percentage point to 10.6% of GDP in 2026, assuming the growth target is close to 5%. (jason.chau@wsj.com)

0802 GMT - The Bank of Thailand's decision to cut its rate on Wednesday is unlikely to mark the end of the easing cycle, says Capital Economics' Gareth Leather in a note. Policymakers are concerned about the country's weak economic activity, after 3Q GDP growth contracted sequentially. "The near-term outlook remains subdued, with soft private consumption and weak government spending set to weigh on growth through next year," Leather says. CE maintains its view that the BOT will cut its policy rate to 0.75% from the current 1.25% by end-2026. (amanda.lee@wsj.com)

0757 GMT - The dollar recovers after hitting a 10-week low in the previous session after the delayed U.S. nonfarm payrolls report for November showed the unemployment rate rose by more than expected to 4.6%. While the dollar initially dropped on the data, the market "isn't really jumping on the bandwagon that the Federal Reserve could cut interest rates again as early as January," Commerzbank's Antje Praefcke says in a note. The hurdle for another rate cut seemed to become somewhat higher at last week's Fed meeting and therefore the dollar has regained some ground, she says. The DXY dollar index rises 0.5% to 98.622, having hit a low of 97.869 on Tuesday.(renae.dyer@wsj.com)

0747 GMT - An interest-rate cut by the Bank of England on Thursday looks certain after a notable fall in U.K. inflation in November, says Suren Thiru at the ICAEW in a note. CPI fell faster than expected to 3.2% in November from 3.6% a month prior. Softer services and core inflation make price pressures appear less sticky, while a loosening labor market and struggling economy will likely keep inflation on a downward path. In 2026, prices should fall considerably as lower food and fuel costs, as well as energy bill changes from the budget, bring inflation down to 2% by next summer, Thiru says. "These figures, alongside the recent deluge of downbeat data, mean that an interest-rate cut tomorrow looks certain." (don.forbes@wsj.com)

0742 GMT - Eurozone government bond yields fall slightly in early trade as markets await Germany's December Ifo business climate index at 0900 GMT. "After yesterday's data glut of eurozone PMIs and U.S. payrolls, Bunds could see a calmer session today," Commerzbank Research's Erik Liem says in a note. As the macro calendar thins out into the end-of-year holidays, markets could switch into a wait-and-see mode on Wednesday ahead of the last two sessions of the week, the rates strategist says. The end of the week will be busy, however, with several key central bank decisions due, including from the European Central Bank, which is expected to keep rates on hold on Thursday. The 10-year Bund yield falls 1.9 basis points to 2.828%, according to LSEG. (emese.bartha@wsj.com)

0731 GMT - European assets are pricing in reflation, BNY's Geoff Yu says in a note. "Reflation is the clear bias in Europe, but stagflation pricing is also rising in sovereign bonds," the EMEA macro strategist says. Meanwhile, asset allocators are adding to protection against stagflation in the process, he says. (emese.bartha@wsj.com)

0730 GMT - Singapore's manufacturing sector is likely to grow more than previously expected, a December survey of economists suggests. Experts polled by the Monetary Authority of Singapore are more bullish on the city-state's manufacturing sector, expecting it to expand 5.4% this year. This compares with the 0.8% growth predicted in September. The upgrade helps boost the economists' views of Singapore's overall economic growth to 4.1% this year, above the 2.4% growth predicted previously. The quarterly MAS survey reflects the views of 20 respondents and doesn't represent the central bank's views. (megan.cheah@wsj.com)

Vilnius, Lithuania, December 17th, 2025, Chainwire

CoinGate, a Lithuania-based crypto-asset and stablecoin management platform and payment processing solution for businesses, has received regulatory approval from the Bank of Lithuania for both a Markets in Crypto-Assets (MiCA) license and a payment institution license, becoming the first homegrown Lithuanian company to obtain a full MiCA license. Find the official announcement here.

The MiCA license authorizes CoinGate to provide regulated crypto services across the entire European Economic Area (EEA) under a single, unified regulatory framework.

With the MiCA license in place, CoinGate can operate across EU member states without the need for additional national authorizations. The license was officially issued on December 16, 2025.

MiCA regulation was adopted by the European Union in May 2023 and came into force on December 30, 2024. It establishes a comprehensive regulatory framework for crypto-asset service providers across the EU, with the goal of increasing consumer protection, transparency, and market integrity. 

Under MiCA, crypto-asset service providers are required to meet strict capital requirements, maintain clear governance structures, implement robust risk management systems, and comply with anti-money laundering (AML) and know-your-customer (KYC) regulations. Providers must also ensure the safeguarding of customer funds and transparent disclosure practices.

For businesses using cryptocurrencies for international payments, working with licensed providers introduces greater legal certainty, higher security standards, and reduced regulatory risk. At the same time, industry participants note that stricter regulation increases operational costs and raises barriers to entry for new market players, contributing to a more mature and transparent market environment.

CoinGate has been operating since 2014 and, over more than a decade, has consistently expanded its technological solutions and the quality of services offered to businesses working with cryptocurrencies. Following the receipt of the MiCA license, the company plans to continue actively investing in platform development by expanding the range of services available to businesses, strengthening its compliance capabilities, and pursuing expansion beyond the European Union.

About CoinGate

Founded in 2014, CoinGate is a cryptocurrency payment processor that enables businesses to accept and manage payments in crypto assets across multiple blockchain networks. The company also provides crypto payouts and cross-asset FX tools for efficient business disbursements. CoinGate is based in Lithuania and serves merchants worldwide.

Users can learn more at coingate.com.

Press contact:

press@coingate.com

Contact

Content manager

Vilius Barbaravicius

CoinGate

vilius.barbaravicius@coingate.com

HashKey, Hong Kong’s largest cryptocurrency exchange, has made its trading debut on the Stock Exchange of Hong Kong (HKEX) following a $206 million initial public offering.

Shares of HashKey Holdings officially listed on the HKEX main board on Wednesday, opening at 6.7 Hong Kong dollars ($0.86), according to data from the exchange.

Announcing the news in a blog post, HashKey Group said the exchange became the first publicly traded digital asset company in Asia to go public through an IPO in Hong Kong.

“This milestone marks the company’s entry into a new stage of development and establishes a stronger foundation for its global expansion and long-term strategic initiatives,” the company stated.

HashKey stock slides following the oversubscribed raise

Launched on Dec. 9, HashKey’s IPO has received massive demand from institutional and retail investors, selling a total of 240 million shares for 1.6 billion HK$ ($206 million), according to the company’s HKEX filings.

The Hong Kong offering was oversubscribed by nearly 394 times with 24 million shares sold, while the international IPO reached 5.5 times the amount of stock on offer, selling 216.5 million shares.

Screenshots of an internal email outlining plans to wind down Shima Capital have surfaced online, days after the US Securities and Exchange Commission sued the crypto venture firm and its founder over allegations of investor fraud.

On Nov. 25, the SEC charged Shima Capital Management LLC and its founder, Yida Gao, with making false and misleading statements while raising almost $170 million from investors, the agency announced on Dec. 3.

The complaint, filed in the US District Court for the Northern District of California, alleged that Gao inflated his investment track record in marketing materials used to raise capital for Shima Capital Fund I between 2021 and 2023.

According to the SEC, Gao claimed one prior investment had delivered a 90x return, when the actual return was closer to 2.8x. The regulator also alleged that when discrepancies in the pitch deck were about to be reported publicly, Gao told investors the issues were the result of clerical errors.

SEC alleges $1.9 million undisclosed gain

Separately, the SEC claimed that Gao raised about $11.9 million through a special purpose vehicle tied to BitClout tokens, telling investors that they would be protected by discounted token purchases. While Gao did acquire tokens at a discount, the SEC said he sold them to the SPV at a higher price without disclosing that he personally retained about $1.9 million in profits.

In a Wednesday post on X, crypto journalist Kate Irwin shared screenshots of an email allegedly sent by Gao to portfolio founders. In the screenshots, Gao purportedly said he would step down as managing director of Shima Capital and that the fund would undergo an “orderly wind-down.”