Today's Cryptocurrency News (December 9) | CFTC Launches Crypto Collateral Pilot; Trump Allows Nvidia to Sell Chips to China

This article summarizes cryptocurrency news for December 9, 2025, focusing on the latest Bitcoin updates, Ethereum upgrades, Dogecoin trends, real-time crypto prices, and price predictions. Major Web3 events today include:

1. US CFTC Launches Pilot Allowing BTC, ETH, and USDC as Collateral in Derivatives Markets

The US Commodity Futures Trading Commission (CFTC) has launched a pilot program permitting Bitcoin (BTC), Ethereum (ETH), and USDC stablecoin to be used as collateral in US derivatives markets. The program targets approved futures commission merchants and includes strict custody, reporting, and regulatory requirements.

2. Tether Invests in Italian Humanoid Robotics Firm Generative Bionics’ $80 Million Funding Round

Tether is supporting the development of a new type of industrial humanoid robot designed to handle dangerous and physically demanding tasks in factories and logistics centers. The stablecoin issuer, together with AMD Ventures, Italy’s state-backed AI fund, and other investors, participated in a €70 million funding round for Generative Bionics, a new spin-off from the Italian Institute of Technology.

Founded just one year ago, this company is developing “physical AI” humanoid robots aimed at operating in human environments and handling heavy-lifting, transport, and repetitive tasks that are challenging for traditional robotic arms.

For Tether, this investment is part of CEO Paolo Ardoino’s strategy described as a “shift to support digital and physical infrastructure.”

3. US Bureau of Labor Statistics: October PPI Data Postponed, To Be Released with November Data Next Year

According to Jintou, the US Bureau of Labor Statistics has announced it will not release the October 2025 Producer Price Index (PPI) news release. Due to a funding interruption (causing a government shutdown), the BLS is delaying the collection of October reference period data. The Bureau plans to release October data together with the November PPI news release on January 14, 2026.

4. Judge Investigates Do Kwon’s Charges in South Korea Ahead of US Sentencing

According to Finance Feeds, Do Kwon is scheduled for sentencing in New York on Thursday after pleading guilty to two felony charges, but the presiding judge is urging prosecutors and defense attorneys to clarify the situation he faces in South Korea. US District Judge Paul Engelmayer requested both parties in a Monday filing to detail the charges and the potential “maximum and minimum sentences” Do Kwon could face if extradited to South Korea.

Do Kwon pleaded guilty in August to wire fraud and conspiracy to commit fraud. These charges stem from his role in the 2022 Terraform Labs collapse, which triggered a broader market downturn and caused significant losses across the crypto industry. Do Kwon is expected to serve his sentence in the US first, but Engelmayer’s inquiries indicate the court seeks a full understanding of the parallel criminal proceedings in South Korea. The judge also asked if both parties agree that “the time Do Kwon was detained in Montenegro” should not count toward any US sentence. Do Kwon was detained in Montenegro for four months for using forged travel documents and spent over a year fighting extradition before being transferred to US custody.

5. Airwallex Founder Reveals Rejection of Stripe’s $1.2 Billion Acquisition Offer

Airwallex founder and CEO Jack Zhang stated, “In 2018, Stripe offered to acquire us for $1.2 billion, when our revenue was only $2 million. The valuation was 600 times revenue, and based on Stripe’s latest share price, I personally could have made over $2 billion. But the team refused. Today, we have raised $330 million, are valued at $8 billion, and have annual recurring revenue (ARR) of $1 billion.” Previously reported, Airwallex raised $330 million in its latest funding round, reaching an $8 billion valuation, a 30% increase from the previous round six months ago. This round was led by Addition, with participation from Activant, Lingotto, and TIAA Ventures.

6. Jim Cramer Backs NVIDIA: Stock Boosted by H200 Chip Export News to China

On December 8, former President Trump announced that the US government would allow NVIDIA to sell its H200 AI chips to China, but a 25% tariff would be imposed on each chip. The H200 is considered NVIDIA’s second most powerful AI chip. Trump said the Commerce Department is finalizing the details, and similar arrangements will apply to AI chip exports from AMD, Intel, and others. After the announcement, NVIDIA’s stock rose 1.2% after hours. Reuters noted that this decision signals a shift in the Trump administration’s AI chip policy toward China. NVIDIA CEO Jensen Huang has been lobbying for relaxed export restrictions, arguing that the Chinese market is crucial to US AI competitiveness and that stable US-China trade helps prevent dual supply chain disruptions. China’s Foreign Ministry previously stated that the US should take concrete actions to maintain global supply chain stability.

Additionally, CNBC “Mad Money” host Jim Cramer again advised investors to “hold” NVIDIA stock rather than trade it frequently. On Monday, NVIDIA’s stock rose slightly from $183 to $185 following the US government’s approval of H200 chip exports to China.

Cramer emphasized that during periods of market volatility, investors should focus on holding shares of tech giants with strong performance, such as NVIDIA. He noted that these companies, with their robust technology and market positions, are resilient against short-term market swings, making frequent trading unfavorable for long-term returns.

NVIDIA is a global leader in GPU and AI chip manufacturing, with products widely used in data centers, cloud computing, and high-performance computing infrastructure. Recently, reports of tech companies exploring alternative chips have pressured NVIDIA’s stock. However, the H200 export approval will enhance the company’s business opportunities in China and support future growth.

Cramer has repeatedly urged investors to focus on the long-term potential of NVIDIA and other “Magnificent Seven” tech giants, rather than be swayed by short-term volatility. His view is that investors should value company fundamentals and industry trends over frequent short-term trades.

Analysts believe that the US’s approval of advanced AI chip exports to China will not only benefit NVIDIA’s revenue but may also boost the global AI ecosystem. With continued growth in AI demand, NVIDIA’s leadership in chip design and computing power still makes its long-term growth outlook favorable.

Overall, NVIDIA’s stock has recently rebounded slightly, and market sentiment has improved. A holding strategy, combined with favorable policy and industry demand, will help investors cope with future volatility and capture potential long-term gains.

7. Yili Hua: Wall Street’s Capital Advantage Is Obvious, BMNR Is Experiencing MicroStrategy-Like Growing Pains

Liquid Capital (formerly LD Capital) founder Yili Hua stated that Wall Street has a sustained and strong capital advantage, with a “constant stream of bullets” ensuring a high probability of success in the future, and he believes they will eventually achieve “big wins.” He likens BMNR’s current phase to the painful transformation MicroStrategy went through, viewing it as part of the growth cycle. Yili Hua noted that based on the belief that “seeing is believing,” the capital markets will see new models distinct from traditional treasuries, allowing crypto assets to achieve broader success through capital markets.

8. MegaETH to Launch Frontier Mainnet Test Version Next Week, Entering Final Sprint Phase

MegaETH announced that its mainnet test version “Frontier” will officially open to developers next week, marking the high-performance Ethereum scaling project’s entry into the final development phase. According to a December 8 update, infrastructure deployment has begun, and developers, app testers, and early users will be onboarded in stages over the coming weeks.

The Frontier test is expected to last one month and is seen as the last critical step before MegaETH’s public mainnet launch. This environment is designed for teams seeking to validate real-time execution features such as sub-millisecond latency, in-memory processing, and instant smart contract compilation. The team emphasized that this stage prioritizes “stability,” includes no incentives, and may see brief downtime during performance stress testing.

MegaETH stated that the core goal of this round is to simulate a mainnet-like environment and optimize performance bottlenecks based on developer and ecosystem partner feedback. If all goes as planned, MegaETH’s mainnet could go live as early as January 2026, fulfilling its two-year vision of building “real-time Ethereum.”

Frontier’s launch follows a turbulent period in November. After its mid-November debut, Frontier was positioned as a key milestone supporting over 100,000 transactions per second. On November 25, a pre-deposit bridge was launched to allow users to preload USDC for the mainnet, but it was immediately suspended due to configuration issues. The team fully refunded all deposits on November 27 and promised a comprehensive audit and overhaul of the bridge before relaunching—an action widely praised by the community.

With the test version now open, Frontier will serve as MegaETH’s core testbed to further validate the scalability, security, and developer experience of its high-performance Layer-2 architecture. The results from the next month of testing will determine whether MegaETH can truly deliver its promised real-time execution capabilities in the mainnet stage.

9. 22-Year-Old US Man Admits to $263 Million Bitcoin Scam, Laundered Over $3.5 Million

The US Department of Justice announced that a key figure in a $263 million Bitcoin social engineering scam has pleaded guilty. Evan Tangeman, a 22-year-old California resident, admitted in district court to laundering over $3.5 million in violation of the Racketeer Influenced and Corrupt Organizations Act (RICO). He is the ninth defendant to plead guilty in the case.

The scam operated from October 2023 to May 2025, carried out by a group spread across US states and overseas. Members included hackers, organizers, target identifiers, phone scammers, and hardware wallet thieves, collectively stealing about 4,100 bitcoins—worth about $263 million at the time and now valued at $371 million. Hackers breached websites to obtain crypto-related databases, target identifiers picked high-value victims, and phone scammers tricked victims into cooperating through calls, operating a sophisticated scam chain.

Tangeman mainly assisted in converting stolen crypto into cash using bulk cash converters and signed rental agreements under aliases to provide cover for gang members. They spent the proceeds on nightclub services, luxury handbags, watches, luxury cars, private jets, and hired security. Tangeman’s sentencing hearing is set for April 24, 2026.

Additionally, the court announced superseding indictments against three more defendants—Nicholas Delaikoff, Mustafa Ibrahim, and Danish Zulfikar—who have recently been arrested. The case highlights the risks of cryptocurrency in cybercrime and serves as a reminder for regulators and law enforcement to strengthen monitoring of large crypto asset flows. (The Block)

10. Bitcoin Has Performed Poorly After 7 FOMC Meetings This Year, Only Up Once

According to analyst @alicharts, after the 7 FOMC meetings held so far this year, Bitcoin has only recorded one gain—15% on May 7. The other 6 meetings all saw declines. Based on this, @alicharts warns traders to watch for a potential “sell the news” drop after this week’s upcoming FOMC meeting.

11. Gate Web3 Wallet Web Version Fully Integrates Stable Mainnet, Miden and Zcash Multi-Chain Support Goes Live

According to official sources, the Gate Web3 Wallet web version now fully supports the Stable mainnet. After this integration, users can directly switch to the Stable network on the web, manage ecosystem assets, view on-chain real-time prices and data rankings, and seamlessly interact with DApps. Gate Web3 aims to provide users with an efficient, smooth entry to the Stable ecosystem. Meanwhile, the web extension also now supports non-EVM testnet Miden and non-EVM (UTXO) mainnet Zcash. Gate Web3 will continue expanding support for popular new chains and innovative ecosystems, building an efficient, secure, and low-cost multi-chain experience. Gate Web3 is a leading multi-chain crypto wallet, connecting 100+ public chains, millions of assets, and tens of thousands of DApps for a professional-grade Web3 experience and optimal solutions for every Web3 need.

12. Kalshi CEO: Rivalry with Polymarket Is Like “Sports Archrivals,” Pushes Both to Improve Prediction Markets

Kalshi CEO Tarek Mansour stated on the latest “20VC” podcast that the prediction market industry is maturing faster due to competition, with Kalshi’s rivalry with Polymarket resembling legendary sports matchups. He said, “A real industry needs competition; competition forces you to break your limits.” Mansour compared Kalshi’s rivalry with Polymarket to NFL quarterbacks Tom Brady vs. Eli Manning, noting that fierce competition led to mutual improvement and rising standards. He also likened it to Messi vs. Ronaldo, saying, “It’s no coincidence that the greatest players often emerge in the same era.” Mansour said Polymarket’s presence pushes Kalshi to invest more in product and marketing, which will “ultimately benefit users.” He also admitted it was a mistake to encourage Polymarket-related memes within the team and has now made it clear they should not do so. The report notes that Kalshi recently announced partnerships with CNN and CNBC and completed a funding round at an $11 billion valuation; Polymarket’s latest valuation is $13.5 billion. (Business Insider)