Recently, the US crypto ecosystem has been very active, with regulatory actions and institutional participation accelerating.

The CFTC has restructured its former "Technology Advisory Committee" into the "Innovation Advisory Committee." This time, it's not just a formality; they have brought in executives from heavyweight institutions like Polymarket and Nasdaq to form the CEO Innovation Committee, specifically to provide regulatory advice on digital assets and prediction markets. Meanwhile, the Senate Agriculture Committee has postponed the review of the Crypto Market Structure Act until the end of January, with the chairman stating that more time is needed to maintain bipartisan consensus. However, bipartisan lawmakers are not idle; they jointly submitted the "Blockchain Regulatory Certainty Act," aiming to secure regulatory exemptions for DeFi software developers.

On the institutional side, activity is even more vigorous. Crypto custody giant BitGo has filed for an IPO in the US, planning to issue 11.8 million shares priced between $15 and $17 each, aiming to raise $201 million, with plans to list on the NYSE. Standard Chartered Bank is also not lagging behind, planning to build a crypto prime brokerage business through its venture capital arm, including core services like custody and financing, in an attempt to bypass some capital requirements. They have already made moves in spot crypto trading and several crypto projects.

From an investment perspective, Strategy continued to increase its Bitcoin holdings last week, purchasing 13,600 BTC for about $9,150 each, spending $1.25 billion. The total holdings now reach 686,400 BTC, with an unrealized profit of over $10.5 billion. The entire market is still expanding, and the RWA (Real-World Asset) sector's market cap has also surpassed $20 billion, hitting a new high.