water

According to Iranian media reports, the Iranian Revolutionary Guard stated that the Strait of Hormuz has been closed, and any passage through this waterway will face "severe measures." All vessels "traveling to and from ports of hostile allies and supporters of the U.S. and Israel" are prohibited from passing through any waterways or heading to any destinations.

According to CoinDesk analysis, Bitcoin has risen about 10% this week to above $72,000, briefly breaking through $73,900 during the day, and is approaching a key price range that has seen significant turning points multiple times over the past two years—approximately $73,750 to $74,400.This range previously suppressed upward trends in the first quarter of 2024 and marked the end of a downward trend in April 2025. If Bitcoin can decisively break through this range, it will signal a new bullish momentum; if it fails to break through, it may confirm that the overall downward trend that began last October is still ongoing. Traders need to closely monitor price movements in the coming days.

Deribit Chief Commercial Officer Jean-David Péquignot stated at the Consensus HK conference that the long-term upward trend of Bitcoin has currently been disrupted, and it is difficult to repair the technical upward structure before the price reclaims $85,000.Recently, Bitcoin's price has mainly been operating in the range of $60,000 to $70,000, a decline of about 45% from last year's historical high, and it may record a fourth consecutive week of decline. If Bitcoin breaks through $85,000 again, it would mean that buyers have basically absorbed the supply that previously suppressed the market and regained market dominance. At this stage, traders generally view the range of $58,000 to $60,000 as the key ultimate support area for this adjustment cycle.

The blockchain infrastructure company Global Settlement Network has announced the launch of a pilot program for the tokenization of water assets, with plans to expand the project across Southeast Asia over the next 12 months, targeting a scale of $200 million.The pilot will initially focus on the tokenization of 8 government-contracted water treatment facilities in Jakarta, aiming to raise approximately $35 million for facility upgrades and the expansion of the local water supply network. During the project, stakeholders will also test a settlement channel using the Indonesian rupiah stablecoin and gradually expand to more foreign exchange settlement scenarios in a controlled environment. Mas Witjaksono, chairman of the Indonesian Globalasia Infrastructure Fund, stated that Indonesia has a large number of tokenizable assets in the infrastructure and natural resources sectors, and the related model has growth potential. Reports indicate that the financing gap for water infrastructure in Southeast Asia continues to widen, with long-term investment needs potentially exceeding $4 trillion by 2040. Some industry insiders expect that as emerging markets accelerate adoption, the real-world asset (RWA) tokenization market is likely to see significant growth by 2026. Currently, the on-chain RWA scale has exceeded $21 billion.

The blockchain infrastructure company Global Settlement Network (GSX) has partnered with the Indonesian local Globalasia Infrastructure Fund to launch a pilot project in Jakarta, Indonesia, focusing on the asset tokenization of 8 government-contracted water treatment plants. The goal is to raise up to $35 million for upgrading water treatment facilities and expanding the water supply network. These facilities currently serve over 36,000 residents, supplying approximately 2,300 liters of clean water per second, and are expected to generate over $15 million in revenue by the end of 2026. Global Settlement Network plans to gradually expand the asset tokenization program across Southeast Asia over the next 12 months, aiming for a scale of $200 million in tokenized water assets.

Web3 asset data platform RootData published a daily transparency alert on Twitter (X), raising concerns about the financing information of projects such as MBD Financials, Geeq, Waterfall Network, Synthesys, and Rubix. It calls on project teams to submit/update information on RootData to improve their transparency scores. Additionally, RootData stated that it will continue to monitor and expose "black box" projects that lack core information.It is reported that the RootData transparency score is used to measure the integrity and timeliness of projects, aiming to reflect the information disclosure status of the projects. The transparency score is divided into 5 levels from A to F, with lower scores indicating that the project's information disclosure is less complete and the risk of wrongdoing is higher, requiring investors to exercise heightened caution.

According to Coinbob's popular address monitoring, the "BTC OG Insider Whale" account has turned from profit to loss, currently showing an overall floating loss of about 2 million dollars. The only profitable position in its account is the long position in SOL, which has a floating profit of about 5.04 million dollars, with an average holding price of 130 dollars and a scale of about 71.6 million dollars. The total holding scale of this address is approximately 795 million dollars, and it remains the largest long position in on-chain ETH and SOL.Simultaneously, monitoring shows that the largest on-chain BTC long whale "Strategy Counterparty" has also fallen into floating losses. This address established a long position around 4 AM today at approximately 90,600 dollars for BTC, and has since continued to increase its position, with the current holding scale rising to 310 million dollars, making it the second largest long whale among mainstream on-chain cryptocurrencies, only behind the "BTC OG Insider Whale"; the second largest ETH long whale "CZ Counterparty" has seen its total floating loss expand to 14.2 million dollars, with the current ETH holding scale at about 170 million dollars and an average price of 3,190 dollars.

As 2026 approaches, U.S. crypto investors are about to face a tax environment that is markedly different from previous years. Several new regulations will come into effect during the 2025 trading year and the 2026 tax season, referred to in the industry as the "watershed moment" for crypto taxation.One of the core changes is Form 1099-DA. Starting in 2025, "brokers" such as centralized exchanges in the U.S. will be required to report users' crypto asset sales and dispositions to the IRS, and will send out the 1099-DA form for the first time in 2026. The initial forms will mostly only include gross proceeds from sales, excluding cost basis; if taxpayers fail to report clearly on their own, the IRS may default the cost to zero and automatically issue tax notices.Meanwhile, "cost accounting by wallet" will replace the previously commonly used "pooling" method. The IRS requires that each trading platform account or wallet track costs separately, and when selling, only the asset batches within that wallet can be matched. This will have a particularly significant impact on users with multiple exchanges, DeFi, and self-custody.Industry tax experts point out that reconstructing historical ledgers and organizing all on-chain and off-chain transaction records will be a one-time but extremely cumbersome task. Although the IRS provides a transitional safe harbor in the 2024-28 program, the compliance window is short, and few investors will complete it.Tax experts warn that without advance preparation, the 2026 tax season could "automatically trigger" issues due to data mismatches. Under a more data-driven and stricter IRS oversight, actively recording, planning ahead, and collaborating early with tax professionals familiar with crypto assets is becoming a "required course" for crypto investors.

The prediction market Kalshi shows that the probability of the Democratic Party winning a majority in the U.S. House of Representatives is about 75%. Against this backdrop, senior Democratic member of the U.S. House Financial Services Committee, Maxine Waters, has made sharper criticisms of the cryptocurrency regulatory policies of SEC Chairman Paul Atkins.In a letter to the committee's Republican Chairman French Hill, Waters stated that the SEC has terminated or suspended several important enforcement cases against the cryptocurrency industry, involving entities such as Coinbase, Binance, and Justin Sun. She pointed out that the committee has not conducted a thorough review of the reasons for the SEC's abandonment of these cases, nor how to prevent fraud and manipulation in the market aimed at a large number of retail investors in the future.Waters also mentioned that some of the companies involved announced the termination of cases publicly before the SEC's formal vote, questioning the "unusually active" role played by Atkins' team in the settlement process. She believes that the SEC's recent policy shifts, primarily advanced through staff statements rather than formal rules, may circumvent the requirements of the Administrative Procedure Act, undermining the role of public opinion gathering and congressional oversight. Therefore, she has called for Atkins to attend a hearing to provide explanations.Reports indicate that since the Donald Trump administration took office and completed its leadership transition, the SEC has dropped several lawsuits against the cryptocurrency industry. Atkins has also publicly stated multiple times that supporting the development of the U.S. cryptocurrency industry will be a regulatory priority, a stance that has become a focal point of ongoing concern and questioning from the Democratic side.

According to a report by Crowdfund Insider, Ari Redbord and Angela Ang from the TRM Labs policy team, along with TRM's EMEA compliance advisor Luke Dufour, reviewed the most important issues in global crypto policy for the fourth quarter of 2025 and examined the developments in crypto policy across 30 jurisdictions, revealing several key trends:Stablecoins dominated the policy agenda, with over 70% of jurisdictions advancing stablecoin regulation in 2025.Clearer regulations created a tailwind for institutional adoption, with about 80% of jurisdictions' financial institutions announcing new digital asset initiatives.The impact of regulation on illicit financing remains clear. TRM's analysis found that virtual asset service providers (VASPs), as the most regulated part of the crypto ecosystem, have a significantly lower rate of illicit activity compared to the overall ecosystem.TRM Labs noted that 2025 is "a watershed year for U.S. crypto policy," while the fourth quarter reinforced the momentum of crypto policy as "no longer just bills moving through Congress." Instead, regulators are increasingly "leveraging guidance, oversight, and enforcement to achieve policy objectives."

Hong Kong fintech company RedotPay, focused on stablecoin payments, announced the completion of a $107 million Series B funding round, led by Goodwater Capital, with participation from Pantera Capital, Blockchain Capital, Circle Ventures, and existing investor HSG (formerly Sequoia Capital China).