Cryptocurrency markets saw downside as investor activity slowed down before the holidays. Bitcoin fell 5%, hitting a low of $84,398 before recovering to $87,769. SEC ended a 4-year investigation into Aave, a win for the industry. Aave founder revealed a 2026 plan aiming to capture $1 billion in value.

Digital asset treasury companies face challenges due to market volatility, according to Solmate CEO. Maintaining high multiple-to-net-asset value is crucial for survival. Falling token prices can lead to lower mNAVs, affecting treasury companies. Solmate CEO emphasizes the importance of avoiding the “mNAV roller coaster.”

Hyper Foundation proposed a vote to permanently exclude $1 billion in HYPE tokens from the Hyperliquid Assistance Fund. Addressing concerns about fund accessibility, validators can choose to treat the tokens as burned. Native Markets highlighted that 50% of USDH stablecoin yield goes to the Assistance Fund.

ETHGas raised $12 million in a seed round led by Polychain Capital. The platform aims to reimagine how blockspace is allocated on the Ethereum network. Ethereum co-founder Vitalik Buterin recently discussed the idea of an onchain “gas futures” market. ETHGas launched with $800 million in commitments.

SEC provided guidance on how broker-dealers can custody tokenized stocks and bonds under existing rules. This signals that blockchain-based securities will be treated as traditional securities. Broker-dealers can consider themselves in possession of crypto asset securities under certain conditions. Clarity is provided on how tokenized securities fit within traditional market safeguards.

Read more at Cointelegraph: Bitcoin Slips $85k, DATs Threatened By ‘mNAV Rollercoaster’