CZ: The Crypto Industry Has More Opportunity for a Comeback Than Any Other Industry

On December 17, stablecoin issuer Tether launched PearPass—a peer-to-peer (P2P) password manager app where all account credentials are stored **only locally on users’ devices** (no cloud servers involved), fundamentally eliminating the risk of centralized data leaks. Tether noted PearPass uses end-to-end encryption and a point-to-point sync architecture: device-to-device data sync is fully controlled by users’ own keys, with no need for third-party infrastructure or intermediaries. The tool supports local credential storage, password generation, multi-device P2P sync, and a user-controlled key recovery system—directly addressing the vulnerability of traditional cloud-based password managers to targeted attacks. PearPass is the **first open-source app** under Tether’s decentralized Pears technology ecosystem, designed to deliver a more censorship-resistant, resilient digital security infrastructure. It’s now freely available across mainstream platforms.

December 17 — CNBC reports that Robinhood (HOOD) stock has far outperformed the S&P 500 Index, with a cumulative gain of over 200% to date, significantly outpacing the broader market. Analysts remain bullish on its outlook, with firms like Truist Financial Corporation assigning a Buy rating and an elevated price target. They cite ongoing upside potential in areas including predictive markets, expanded product offerings, and business growth, noting the stock’s fundamentals and valuation have not yet fully priced in future growth expectations. However, market sentiment is mixed. Some observers highlight recent heightened volatility and declines in certain operational metrics as potential sources of short-term uncertainty.

**December 17 – An Indian lawmaker proposed draft tokenization legislation on December 17, aiming to "democratize investment opportunities" by standardizing asset tokenization and expanding middle-class access to digital investment options in traditional assets like real estate and stocks.** **The draft calls for establishing a clear regulatory framework to enable asset tokenization under legal, compliant conditions, while prioritizing investor protection, boosting market transparency, and enhancing capital liquidity. If passed, the bill would significantly advance India’s financial market digital asset infrastructure and make tokenized products a viable choice for everyday investors.**

On December 17, Bitcoin miner Hut 8’s pre-market shares jumped more than 18%, pushing its market capitalization to $3.981 billion. The rally followed Hut 8 signing a 15-year, $7 billion lease deal with Fluidstack: the latter will rent 245 megawatts (MW) of IT hashing capacity from Hut 8’s River Bend data center campus. Under the agreement, Fluidstack also secured a right of first offer (ROFO) for up to an additional 1,000 MW of IT capacity in future campus expansion phases—contingent on the site scaling up its power supply.

**K33: Long-Term Bitcoin Holder Selling Pressure Nearing Saturation** Research and brokerage firm K33 noted in a report published yesterday that selling pressure from long-term Bitcoin holders is approaching saturation after years of distribution, with on-chain selling pressure expected to ease gradually. K33 research director Vetle Lunde said that since 2024, the supply of Bitcoin held for over two years has been steadily declining: roughly 1.6 million BTC (valued at ~$138 billion at current prices) has been reactivated and flowed into the market, reflecting ongoing on-chain selling by early holders. Lunde added this scale far exceeds what technical migrations or structural adjustments can explain, indicating substantial distribution activity. The report highlighted that 2024 and 2025 rank as the second and third-highest years in Bitcoin’s history for long-term supply recirculation, trailing only 2017. Unlike 2017’s cycle—driven primarily by ICOs, altcoin trading, and incenti

As of December 17, Bloomberg reports Bitcoin is on track for its fourth annual decline in history—and the first time a pullback has occurred without a major scandal or industry-wide meltdown. Analysis notes the downturn is unfolding even as institutional participation grows, the regulatory landscape matures, and the crypto sector gets public backing from U.S. President Trump, catching markets off guard. Since hitting an all-time high above $126,000 in early October, Bitcoin has pulled back sharply. Trading volumes are currently low as investors continue exiting related products. Data shows U.S.-listed Bitcoin spot ETFs have seen net outflows of over $5.2 billion since October 10, market depth has dropped ~30% from its yearly peak, and there’s little appetite for a rebound in the derivatives market. Unlike prior bear markets, this pullback wasn’t triggered by exchange collapses, heavy-handed regulation, or systemic risk events. The three prior annual drops stemmed from: Mt. Gox’s co