&lt;p&gt;Coinbase is threatening to withdraw its support for the CLARITY Act if lawmakers slip in a ban on stablecoin rewards. It&#039;s a high-stakes gamble that could derail the industry&#039;s biggest legislative win in years.​&lt;/p&gt;
&lt;h1&gt;The Rewards That Started It All&lt;/h1&gt;
&lt;p&gt;Stablecoin rewards, those juicy yields Coinbase dangles to lure users. Think 4-5% APY on USDC holdings, pure catnip for retail traders and institutions alike. In Q4 2024 alone, these perks raked in nearly $247 million for Coinbase, fueling everything from user growth to fat bottom lines.​ Banking lobbyists aren&#039;t buying the hype. They claim these rewards act like a deposit vacuum, sucking trillions from traditional accounts and starving community banks of lending ammo. With stablecoin volumes exploding to $33 trillion in 2025, the fear is real: crypto&#039;s siphoning cash that funds mortgages and small businesses. Enter the CLARITY Act tweak, a proposed outright ban on third-party platforms offering these incentives, building on last year&#039;s GENIUS Act, which greenlit them under strict rules.​ Coinbase CEO Brian Armstrong and policy chief Faryar Shirzad have sounded alarms, warning that kneecapping rewards hands the edge to China&amp;rsquo;s interest-bearing digital yuan launching in 2026. &quot;This isn&#039;t just about revenue, it&#039;s U.S. competitiveness,&quot; insiders say. Without yields, platforms lose their magnet, and innovation flees to Dubai or Singapore.​&lt;/p&gt;
&lt;h1&gt;Coinbase&#039;s Big Stick&lt;/h1&gt;
&lt;p&gt;Bloomberg sources say the exchange is ready to flip from cheerleader to saboteur, potentially lobbying hard against the bill. That&#039;s no idle threat: Coinbase led crypto&#039;s 2023-2024 election war chest, pouring millions into pro-regulation candidates. Their pull could stall CLARITY in the Senate Banking Committee, already eyeing delays into 2029.​ The timing stings. CLARITY promises clarity, splitting oversight between SEC (securities) and CFTC (commodities), easing custody rules, and boosting DeFi. Crypto Week 2025 delivered GENIUS, and Anti-CBDC wins under Trump, but this sequel&#039;s wobbling. Coinbase&#039;s pivot echoes their past: they sued the SEC in 2023 over listings and won friends in D.C. Now, they&#039;re betting lawmakers fear industry backlash more than banker grumbles.​&lt;/p&gt;
&lt;h1&gt;Market Impact&lt;/h1&gt;
&lt;p&gt;Crypto markets shrugged so far, but investors smell risk. Analysts peg a restrictive CLARITY, slashing Coinbase&#039;s stablecoin revenue 30-50%, forcing fee hikes or offshore pivots. Stablecoin AUM could balloon to $500 billion by year-end under friendly rules; bans might cap it at $300 billion, crimping liquidity.​ Banks counter with systemic doom: $360 billion in annual deposit fees at stake. Yet crypto bulls point out 99% of stablecoin flows are legit, powering remittances and Treasury wrappers better than Visa.​&lt;/p&gt;
&lt;h1&gt;What&#039;s Next?&lt;/h1&gt;
&lt;p&gt;Senate hearings loom, with middle-ground floats like licensed reward caps or yield taxes. Trump-era momentum favours crypto, but bipartisan bankers hold sway. Coinbase&#039;s threat? A wake-up call that clarity without compromise kills the golden goose.&lt;/p&gt;

Coinbase threatens to withdraw support for the CLARITY Act

&lt;p&gt;Ethereum-based Lighter has launched Equity Perps with expanded 24/5 trading on mainnet. Traders can finally speculate on stocks without the shackles of traditional market close. Full 24/7 access rolls out soon, bridging crypto&#039;s round-the-clock vibe with Wall Street giants.​&lt;/p&gt;
&lt;h1&gt;Breaking Barriers in On-Chain Trading&lt;/h1&gt;
&lt;p&gt;Lighter&#039;s Equity Perps let users bet on price moves of major equities using crypto collateral, all settled on Ethereum&#039;s zk-rollup for lightning-fast execution and ironclad security. Forget U.S. trading hours; this setup runs weekdays non-stop, dodging time zone headaches for global degens. &quot;The trading setup allows global users to access equity markets continuously during weekdays without time zone restrictions,&quot; notes Lighter&#039;s go-to-market lead Sebasti&amp;aacute;n J.​ Built on a hybrid CLOB-Merkle Tree engine, Lighter delivers sub-10ms finality, zero-fee retail trades, and ZK proofs verifying every match, liquidation, and funding tick. It&#039;s no wonder the platform topped perp volumes in November and December, surpassing Hyperliquid with $292.5B+ cumulative action since its October mainnet debut.​&lt;/p&gt;
&lt;h1&gt;Why This Matters?&lt;/h1&gt;
&lt;p&gt;Equity Perps are a gateway for crypto natives to tap traditional finance without KYC nightmares or custody risks. Think longing Tesla or shorting Nvidia with USDC, 24/5 right now, leveraging Lighter&#039;s deterministic order priority and HFT-grade speeds. As BitMEX pioneered similar products, Lighter elevates it decentralized, with Ethereum anchoring funds and &quot;Desert Mode&quot; for sequencer failsafes.​ Post-LIT token launch and $675M airdrop (despite $250M quick outflows), Lighter&#039;s TVL holds strong at $1.2B, fueling spot and perps alike. DEX-to-CEX volume ratios hit 21%, with Lighter claiming 26% global perps share by Q2 2025. Endorsements from EigenLayer&#039;s Sreeram Kannan and LayerZero&#039;s Bryan Pellegrino underscore its cred.​&lt;/p&gt;
&lt;h1&gt;The Road to 24/7 and Beyond&lt;/h1&gt;
&lt;p&gt;This aligns with crypto&#039;s ethos, challenging Nasdaq&#039;s centralized grip while regulators warm to on-chain derivatives under Trump&#039;s pro-crypto push. Lighter&#039;s vertical ZK stack scales to trillions without general L2 bottlenecks.​ For traders, it&#039;s a no-brainer: zero fees for retail, API charges for whales, anti-Sybil guards. As perps evolve, Lighter positions as the &quot;Nasdaq of crypto futures,&quot; blending speed, transparency, and composability.&lt;/p&gt;

Lighter has launched Equity Perps

&lt;p&gt;The DeFi landscape continues to evolve with blockchain ecosystems competing for dominance through innovative applications and strategic partnerships. Total Value Locked (TVL) is one of the key metrics to measure the health and attractiveness of these ecosystems. In this article, we have compiled a list of the top 10 blockchains in December 2025 by TVL growth, with a minimum Range of $10 million, using data from &lt;a href=&quot;https://defillama.com/chains?minTvl=10000000&amp;amp;maxTvl=&quot;&gt;DefiLlama&lt;/a&gt;, a leading DeFi analytics platform.&amp;nbsp;&lt;/p&gt;
&lt;h1&gt;What is TVL?&lt;/h1&gt;
&lt;p&gt;Total Value Locked (TVL) is a key metric in the decentralized finance (DeFi) ecosystem that represents the total U.S. dollar value of digital assets that are currently locked in DeFi platforms. These assets can include cryptocurrencies, stablecoins, liquidity tokens, and other digital assets used for various purposes such as staking, liquidity provision, and yield farming. It serves as an indicator of a DeFi platform&#039;s health and popularity, reflecting user trust and engagement.&lt;/p&gt;
&lt;h1&gt;Top 10 Blockchains in December 2025 by TVL Growth&lt;/h1&gt;
&lt;p&gt;The Following chains saw the highest TVL growth in December 2025&lt;/p&gt;
&lt;p&gt;1. Saga&lt;/p&gt;
&lt;p&gt;2. Provenance&lt;/p&gt;
&lt;p&gt;3. Neutron&lt;/p&gt;
&lt;p&gt;4. Ethereal&lt;/p&gt;
&lt;p&gt;5. ENI&lt;/p&gt;
&lt;p&gt;6. PolyNetwork&lt;/p&gt;
&lt;p&gt;7. Monad&lt;/p&gt;
&lt;p&gt;8. Ink&lt;/p&gt;
&lt;p&gt;9. Starknet&lt;/p&gt;
&lt;p&gt;10. XRPL&lt;/p&gt;
&lt;p&gt;&lt;img src=&quot;https://ds7uldi88krbs.cloudfront.net/posts/post_695cc91ec4014.png&quot; alt=&quot;Top 10 Blockchains in December 2025 by TVL Growth&quot; width=&quot;574&quot; height=&quot;300&quot;&gt;&lt;/p&gt;
&lt;h2&gt;1. Saga&lt;/h2&gt;
&lt;p&gt;Saga tops the table with 321% growth in December 2025. Saga is a Layer 1 blockchain that lets developers launch their own application-specific blockchains with shared security, infinite horizontal scalability, and support for multiple VMs, heavily targeting Web3 gaming and entertainment.​ Its TVL is now valued at $31.68 million.&lt;/p&gt;
&lt;p&gt;&lt;img src=&quot;https://ds7uldi88krbs.cloudfront.net/posts/post_695cc5f20e45e.png&quot; alt=&quot;Saga&#039;s Dec 2025 TVL Growth&quot; width=&quot;874&quot; height=&quot;300&quot;&gt;&lt;/p&gt;
&lt;p&gt;Top protocols that drive TVL Growth for Saga:&lt;/p&gt;
&lt;table style=&quot;border-collapse: collapse; width: 100%;&quot; border=&quot;1&quot;&gt;&lt;colgroup&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;/colgroup&gt;
&lt;tbody&gt;
&lt;tr&gt;
&lt;td&gt;Protocols&lt;/td&gt;
&lt;td&gt;TVL Growth (Dec 2025)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;Mustang Finance&lt;/td&gt;
&lt;td&gt;+769%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;Colt&lt;/td&gt;
&lt;td&gt;+426%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;YieldFi&lt;/td&gt;
&lt;td&gt;+345%&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;h2&gt;2. Provenance&lt;/h2&gt;
&lt;p&gt;Provenance comes in Second place with 121% growth in December 2025. Provenance is a secure, scalable platform designed to enhance transparency and trust in financial services and supply chains. It enables easy asset tokenization, streamlined compliance, and verifiable data sharing, empowering businesses with decentralized trust and operational efficiency. Its TVL is now valued at $580.6 million.&lt;/p&gt;
&lt;p&gt;&lt;img src=&quot;https://ds7uldi88krbs.cloudfront.net/posts/post_695cc619d9c05.png&quot; alt=&quot;Provenance&#039;s Dec 2025 TVL Growth&quot; width=&quot;874&quot; height=&quot;300&quot;&gt;&lt;/p&gt;
&lt;p&gt;Top protocols that drive TVL Growth for Provenance:&lt;/p&gt;
&lt;table style=&quot;border-collapse: collapse; width: 100%;&quot; border=&quot;1&quot;&gt;&lt;colgroup&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;/colgroup&gt;
&lt;tbody&gt;
&lt;tr&gt;
&lt;td&gt;Protocol&lt;/td&gt;
&lt;td&gt;TVL Growth (Dec 2025)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;Figure Markets&lt;/td&gt;
&lt;td&gt;+110%&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;h2&gt;3. Neutron&lt;/h2&gt;
&lt;p&gt;Neutron comes in third place with 103% growth in December 2025. Neutron is a Cosmos SDK blockchain optimized for cross-chain DeFi and BTCFi, enabling secure smart contracts via CosmWasm. It leverages Interchain Security from Cosmos Hub, with native modules for interchain queries, accounts, oracles, and CRON automation. NTRN token powers fees, governance, and staking. Its TVL is now valued at $49.74 million.&lt;/p&gt;
&lt;p&gt;&lt;img src=&quot;https://ds7uldi88krbs.cloudfront.net/posts/post_695cc78cb3e5b.png&quot; alt=&quot;Neutron&#039;s December 2025 TVL Growth&quot; width=&quot;874&quot; height=&quot;300&quot;&gt;&lt;/p&gt;
&lt;p&gt;Top protocols that drive TVL Growth for Neutron:&lt;/p&gt;
&lt;table style=&quot;border-collapse: collapse; width: 100%;&quot; border=&quot;1&quot;&gt;&lt;colgroup&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;/colgroup&gt;
&lt;tbody&gt;
&lt;tr&gt;
&lt;td&gt;Protocol&lt;/td&gt;
&lt;td&gt;TVL Growth (Dec 2025)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;Amber Finance&lt;/td&gt;
&lt;td&gt;+785%&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;h2&gt;4. Ethereal&lt;/h2&gt;
&lt;p&gt;Ethereal comes in fourth place with 61.37% growth in December 2025. Ethereal is a Layer-1 blockchain designed for scalable, secure, and gas-free transactions. It supports EVM-compatible decentralized apps, DeFi protocols, and Web3 gaming with institutional-grade PoS BFT security. Ethereal also powers a decentralized exchange (DEX) offering deep liquidity and fast execution. Its TVL is now valued at $55.12 million.&lt;/p&gt;
&lt;p&gt;&lt;img src=&quot;https://ds7uldi88krbs.cloudfront.net/posts/post_695cc7b19154a.png&quot; alt=&quot;Ethereal&#039;s Dec 2025 TVL Growth&quot; width=&quot;874&quot; height=&quot;300&quot;&gt;&lt;/p&gt;
&lt;p&gt;Top protocols that drive TVL Growth for Ethereal:&lt;/p&gt;
&lt;table style=&quot;border-collapse: collapse; width: 100%;&quot; border=&quot;1&quot;&gt;&lt;colgroup&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;/colgroup&gt;
&lt;tbody&gt;
&lt;tr&gt;
&lt;td&gt;Protocol&lt;/td&gt;
&lt;td&gt;TVL Growth (Dec 2025)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;Ethereal DEX&lt;/td&gt;
&lt;td&gt;+61.30%&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;h2&gt;5. ENI&lt;/h2&gt;
&lt;p&gt;ENI comes in fifth place with 57.81% growth in December 2025. ENI is a high-performance, enterprise-grade Web3 blockchain leveraging Zero-Knowledge Proofs (ZKP) for privacy and scalability. Its modular, multi-chain design connects a mainnet with AppChains, delivering secure, decentralized infrastructure for businesses and developers. Focused on speed, stability, and real-world Web3 adoption. Its TVL is now valued at $48.27 million.&lt;/p&gt;
&lt;p&gt;&lt;img src=&quot;https://ds7uldi88krbs.cloudfront.net/posts/post_695cc7d0d652b.png&quot; alt=&quot;ENI&#039;s Dec 2025 TVL Growth&quot; width=&quot;874&quot; height=&quot;300&quot;&gt;&lt;/p&gt;
&lt;p&gt;Top protocols that drive TVL Growth for ENI:&lt;/p&gt;
&lt;table style=&quot;border-collapse: collapse; width: 100%;&quot; border=&quot;1&quot;&gt;&lt;colgroup&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;/colgroup&gt;
&lt;tbody&gt;
&lt;tr&gt;
&lt;td&gt;Protocol&lt;/td&gt;
&lt;td&gt;TVL Growth (Dec 2025)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;Dswap&lt;/td&gt;
&lt;td&gt;+57.82%&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;h2&gt;6. PolyNetwork&lt;/h2&gt;
&lt;p&gt;PolyNetwork comes in sixth place with 57.71% growth in December 2025. PolyNetwork was a cross-chain interoperability protocol enabling asset transfers across over 20 blockchains like Ethereum, BSC, and Polygon via smart contracts and bridges, fostering DeFi and Web3 infrastructure. It gained notoriety in August 2021 after a massive $611 million hack exploited access control flaws in its cross-chain contracts. Facing repeated exploits and shifting market conditions, PolyNetwork fully terminated all services on September 30, 2024. Despite this, DefiLlama continues displaying its TVL at around $333.07 million as the platform tracks on-chain locked value via automated smart contract queries even for inactive or shutdown protocols, reflecting residual liquidity rather than active usage.&lt;/p&gt;
&lt;h2&gt;7. Monad&lt;/h2&gt;
&lt;p&gt;Monad comes in seventh place with 48.52% growth in December 2025. Monad is a high-performance Layer-1 blockchain fully compatible with the EVM. It achieves 10,000 TPS, 0.4s block times, and 0.8s finality through parallel execution, optimistic consensus (MonadBFT), and custom optimizations like MonadDb and JIT compilation, all built in C++/Rust. Developers port Ethereum dApps seamlessly for scalable DeFi and gaming, powered by $MON token for gas, staking, and governance. Its TVL is valued at $278.74 million.&lt;/p&gt;
&lt;p&gt;&lt;img src=&quot;https://ds7uldi88krbs.cloudfront.net/posts/post_695cc7f4a5da7.png&quot; alt=&quot;Monad&#039;s Dec 2025 TVL Growth&quot; width=&quot;874&quot; height=&quot;300&quot;&gt;&lt;/p&gt;
&lt;p&gt;Top protocols that drive TVL Growth for Monad:&lt;/p&gt;
&lt;table style=&quot;border-collapse: collapse; width: 100%; height: 74px;&quot; border=&quot;1&quot;&gt;&lt;colgroup&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;/colgroup&gt;
&lt;tbody&gt;
&lt;tr style=&quot;height: 18.5px;&quot;&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;Protocols&lt;/td&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;TVL Growth (Dec 2025)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style=&quot;height: 18.5px;&quot;&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;Quantus Lend&lt;/td&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;+543%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style=&quot;height: 18.5px;&quot;&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;Neverland&lt;/td&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;+477%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style=&quot;height: 18.5px;&quot;&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;Kintsu&lt;/td&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;+309%&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;h2&gt;8. Ink&lt;/h2&gt;
&lt;p&gt;Ink comes in eighth place with 37.34% growth in December 2025. Ink is a decentralized blockchain platform focused on secure, scalable, and efficient solutions for digital asset management and smart contract deployment. It aims to empower developers and enterprises with innovative tools for a seamless blockchain experience. Its TVL is now valued at $501.3 million.&lt;/p&gt;
&lt;p&gt;&lt;img src=&quot;https://ds7uldi88krbs.cloudfront.net/posts/post_695cc8229d4d2.png&quot; alt=&quot;Ink&#039;s Dec 2025 TVL Growth&quot; width=&quot;874&quot; height=&quot;300&quot;&gt;&lt;/p&gt;
&lt;p&gt;Top protocol that drives TVL Growth for Ink:&lt;/p&gt;
&lt;table style=&quot;border-collapse: collapse; width: 100%;&quot; border=&quot;1&quot;&gt;&lt;colgroup&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;/colgroup&gt;
&lt;tbody&gt;
&lt;tr&gt;
&lt;td&gt;Protocols&lt;/td&gt;
&lt;td&gt;TVL Growth (Dec 2025)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;Uniswap&lt;/td&gt;
&lt;td&gt;+484%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;Nado&lt;/td&gt;
&lt;td&gt;+137%&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;h2&gt;9. Starknet&lt;/h2&gt;
&lt;p&gt;Starknet comes at ninth with 20.65% growth in December 2025. Starknet is an Ethereum Layer 2 (L2) validity-rollup (ZK-rollup) using STARK proofs for massive scalability. It bundles transactions off-chain into a single proof verified on Ethereum, slashing costs and boosting throughput to thousands of TPS while preserving security. It powers dApps in DeFi, gaming, and beyond, with growing Bitcoin interoperability. Its TVL is now valued at $265.82 million.&lt;/p&gt;
&lt;p&gt;&lt;img src=&quot;https://ds7uldi88krbs.cloudfront.net/posts/post_695cc8486dd02.png&quot; alt=&quot;Starknet&#039;s Dec 2025 TVL Growth&quot; width=&quot;874&quot; height=&quot;300&quot;&gt;&lt;/p&gt;
&lt;p&gt;Top protocols that drive TVL Growth for Starknet:&lt;/p&gt;
&lt;table style=&quot;border-collapse: collapse; width: 100%;&quot; border=&quot;1&quot;&gt;&lt;colgroup&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;/colgroup&gt;
&lt;tbody&gt;
&lt;tr&gt;
&lt;td&gt;Protocols&lt;/td&gt;
&lt;td&gt;TVL Growth (Dec 2025)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;Extended&lt;/td&gt;
&lt;td&gt;+40.77%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;Troves&lt;/td&gt;
&lt;td&gt;+38.53%&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;h2&gt;10. XRPL&lt;/h2&gt;
&lt;p&gt;XRPL comes at tenth with 18.77% growth in December 2025. The XRP Ledger (XRPL) is a decentralized, public blockchain launched in 2012 for fast, low-cost payments. It uses a consensus protocol with 150+ validators to confirm transactions in 3-5 seconds, without energy-intensive mining. Native token XRP enables efficient global transfers; supports DeFi, NFTs, and tokenization. Sustainable and business-focused. Its TVL is now valued at $81.52 million.&lt;/p&gt;
&lt;p&gt;&lt;img src=&quot;https://ds7uldi88krbs.cloudfront.net/posts/post_695cc87060c26.png&quot; alt=&quot;XRPL&#039;s Dec 2025 TVL Growth&quot; width=&quot;874&quot; height=&quot;300&quot;&gt;&lt;/p&gt;
&lt;p&gt;Top protocol that drives TVL Growth for XRPL:&lt;/p&gt;
&lt;table style=&quot;border-collapse: collapse; width: 100%;&quot; border=&quot;1&quot;&gt;&lt;colgroup&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;/colgroup&gt;
&lt;tbody&gt;
&lt;tr&gt;
&lt;td&gt;Protocols&lt;/td&gt;
&lt;td&gt;TVL Growth (Dec 2025)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;NEAR Intents&lt;/td&gt;
&lt;td&gt;+34.91%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;Doppler Finance&lt;/td&gt;
&lt;td&gt;+29.38%&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;h1&gt;Conclusion&lt;/h1&gt;
&lt;p&gt;In the dynamic landscape of decentralized finance (DeFi), tracking the Total Value Locked (TVL) across various blockchains provides invaluable insights into market trends and investor confidence. This analysis, based on data from DeFi Llama, highlights the top 10 blockchains that have experienced significant growth in TVL over December 2025, with a minimum TVL of $10 million.&lt;/p&gt;

Top 10 Blockchains in December 2025 by TVL Growth

&lt;p&gt;ZachXBT flagged a fresh data breach tied to Ledger&amp;rsquo;s e‑commerce partner Global‑e, exposing customer names and contact details. The incident once again highlights a painful truth for hardware wallet users: even when your private keys are safe, your personal data often is not.&lt;/p&gt;
&lt;p&gt;&lt;img src=&quot;https://ds7uldi88krbs.cloudfront.net/posts/post_695c88902fb43.png&quot; alt=&quot;ZachXBT Flags New Ledger Data Breach via Global‑e&quot; width=&quot;277&quot; height=&quot;300&quot;&gt;&lt;/p&gt;
&lt;p&gt;Image Source: &lt;a href=&quot;https://x.com/zachxbt/status/2008139053544194545&quot; target=&quot;_blank&quot; rel=&quot;noopener&quot;&gt;ZachXBT&lt;/a&gt;&lt;/p&gt;
&lt;h1&gt;What ZachXBT Exposed?&lt;/h1&gt;
&lt;p&gt;According to notifications sent to affected users, Global‑e, a third‑party payment and e‑commerce processor used by Ledger, suffered unauthorized access to a cloud-based system containing shopper order data. Only customers who purchased through Ledger&amp;rsquo;s online store using Global‑e as the merchant of record are in the potential impact zone, but neither Ledger nor Global‑e have disclosed how many people that includes.​ ZachXBT brought the situation to wider attention by sharing details of the breach with the crypto community, amplifying screenshots of the notification emails and warning that exposed data could be weaponized in targeted phishing attacks. Those messages, sent by Global‑e, confirm that names and contact information such as email addresses, phone numbers, and shipping details were accessed by an unauthorized party.​&lt;/p&gt;
&lt;h1&gt;What Was Compromised?&lt;/h1&gt;
&lt;p&gt;Both Ledger and Global‑e stress that the breach is limited to personal and order data, not wallet secrets. Ledger has clarified that its hardware devices, software wallets, and core infrastructure remain uncompromised, and that Global‑e never had access to 24‑word seed phrases, private keys, wallet balances, or any &amp;ldquo;on‑chain&amp;rdquo; secrets.​ Equally important, Global‑e says no payment card information or account credentials were exposed in this incident. The data set appears to focus on typical e‑commerce records: customer identity, contact channels, and details about past orders placed via Ledger&amp;rsquo;s online store. That may sound less dramatic than a direct wallet hack, but for attackers who specialize in social engineering, it is exactly the kind of intelligence they want.​&lt;/p&gt;
&lt;h1&gt;Why This Breach Matters for Ledger Users&lt;/h1&gt;
&lt;p&gt;For Ledger customers, this is not the first time their off‑chain identity has been dragged into the spotlight. A 2020 incident involving a rogue Shopify employee exposed data from roughly 270,000 Ledger buyers, leading to a flood of phishing emails and even reports of physical threats tied to leaked home addresses. In 2023, Ledger also dealt with a supply‑chain attack that injected malicious code into its Ledger Connect Kit, enabling &amp;ldquo;wallet drainer&amp;rdquo; exploits until the issue was patched.​ This latest Global‑e breach feeds into a growing fear that multiple leaks, over several years and across different partners, are slowly building a detailed map of who owns crypto, where they live, and how to reach them. Security firms have already reported tens of millions of dollars lost annually to phishing attacks that rely on exactly this kind of harvested data.​&lt;/p&gt;
&lt;h1&gt;How Users Should Protect Themselves Now&lt;/h1&gt;
&lt;p&gt;Ledger is urging customers to stay hyper‑vigilant and to treat any unexpected communication as suspicious, no matter how convincing it looks. The company reiterates its golden rule: never share your 24‑word recovery phrase with anyone, under any circumstances, and never type it into a website, app, or form claiming to be &amp;ldquo;Ledger support.&amp;rdquo;​ Enabling email filters, using unique addresses where possible, and double‑checking URLs before interacting with any &amp;ldquo;security alert&amp;rdquo; can make the difference.​ The Global‑e episode is a stark reminder that in crypto, self‑custody solves only part of the problem. As long as hardware wallet brands rely on third‑party commerce platforms, the weakest link may not be the blockchain at all, but the ordinary databases quietly holding your name and your inbox.&lt;/p&gt;

ZachXBT Flags New Ledger Data Breach via Global‑e

&lt;p&gt;Coinbase has temporarily paused all peso-based fiat rails, halting deposits and withdrawals through the Argentine peso (ARS). The U.S.-based exchange cited &quot;strategic local adjustments&quot; and &quot;regulatory re‑evaluation&quot; as key reasons behind the decision.&lt;/p&gt;
&lt;h1&gt;A Sudden Halt in a Growing Market&lt;/h1&gt;
&lt;p&gt;The suspension went into effect earlier this week, notifying Argentine users that peso deposits via traditional banking channels and local payment partners were being disabled. Users can still trade using their existing crypto balances or convert to USDC, but cashing out to fiat has been halted until further notice. For Argentina, the move comes as a surprise. Over the past year, Coinbase has doubled down on its regional operations, integrating local payment processors and offering zero‑fee conversions between pesos and USDC to encourage stablecoin usage amid surging inflation.&lt;/p&gt;
&lt;h1&gt;Economic Context&lt;/h1&gt;
&lt;p&gt;Argentina&amp;rsquo;s peso has been under immense pressure. In 2025, annual inflation surpassed 210%, forcing many Argentines to rely on stablecoins for everyday transactions and savings. USDC and USDT trading pairs had become lifelines for freelancers, small businesses, and remittance recipients seeking to preserve purchasing power. With Coinbase now suspending its peso rails, users may need to rely on peer-to-peer platforms like Binance P2P, Lemon Cash, or Ripio, which remain operational. Industry observers note this could push a segment of users toward less regulated exchanges or on-chain alternatives, potentially increasing exposure to scams and liquidity risks.&lt;/p&gt;
&lt;h1&gt;Possible Regulatory and Operational Drivers&lt;/h1&gt;
&lt;p&gt;Coinbase&amp;rsquo;s decision is tied to tightening foreign exchange and anti‑money‑laundering (AML) regulations in Argentina. The country&amp;rsquo;s new administration has introduced stricter oversight on crypto-linked remittances and foreign-denominated transfers as part of its broader currency stabilization push. While Coinbase has not released a detailed statement, insiders point to &quot;compliance recalibration&quot; under new government rules that may require foreign exchanges to obtain updated operational licenses. Coinbase, known for its policy of strict compliance alignment, could be undergoing local regulatory restructuring before resuming full service.&lt;/p&gt;
&lt;h1&gt;&lt;strong&gt;Impact on Market&lt;/strong&gt;&lt;/h1&gt;
&lt;p&gt;The immediate fallout has been a mix of frustration and uncertainty among Argentine users. Crypto communities on X (formerly Twitter) and Telegram saw hundreds of posts from users seeking clarity about withdrawal options. Some reported conversion delays when attempting to move balances into USDC or BTC before the suspension took effect. However, analysts argue the pause is unlikely to derail the overall crypto adoption trend. Argentina remains one of the most crypto-active nations in the world, ranking consistently in Chainalysis&amp;rsquo; top 10 global crypto adoption index. Even without fiat ramps, stablecoins continue to serve as a digital dollar substitute.&lt;/p&gt;
&lt;h1&gt;Coinbase&amp;rsquo;s Regional Strategy in Transition&lt;/h1&gt;
&lt;p&gt;Coinbase&amp;rsquo;s pause in Argentina doesn&amp;rsquo;t signal retreat but rather realignment. The company continues to expand across Latin America, recently deepening integrations in Brazil, Chile, and Peru, where fiat access remains uninterrupted. Its renewed focus appears to be on improving on‑chain products, stablecoin efficiency, and compliance automation for future re‑entry. Analysts expect Coinbase to return once it aligns with Argentina&amp;rsquo;s evolving financial regulatory framework. In the meantime, many local users are expected to migrate temporarily to decentralized stablecoin solutions or multi‑exchange workflows using international partners.&lt;/p&gt;
&lt;h1&gt;A Temporary Setback&lt;/h1&gt;
&lt;p&gt;As Argentina faces one of the toughest inflation cycles in its modern history, crypto adoption continues to fill the void left by traditional finance. Coinbase&amp;rsquo;s temporary exit represents a setback for convenience and liquidity. For now, the country&amp;rsquo;s vibrant blockchain community remains adaptive, continuing to trade, build, and transact through the decentralized rails that initially defined the crypto revolution.&lt;/p&gt;

Coinbase Pauses Peso-Based Fiat Rails in Argentina

&lt;p&gt;The United Kingdom has drawn a clear line in the sand: crypto is no longer a regulatory grey zone when it comes to taxation. UK authorities have officially begun a coordinated crackdown on cryptocurrency tax evasion. This shift brings crypto firmly into the mainstream tax net, placing new responsibilities on investors, traders, and platforms operating in or serving UK residents.&lt;/p&gt;
&lt;h1&gt;From &amp;ldquo;Wild West&amp;rdquo; To Watched Space&lt;/h1&gt;
&lt;p&gt;For years, UK regulators have warned that gains from crypto assets are taxable, but enforcement remained relatively light and fragmented. That period is now over. Tax authorities are moving from guidance to action, using new powers, data-sharing agreements, and reporting obligations to identify individuals and businesses failing to declare crypto income and capital gains. The policy shift reflects the sheer scale of crypto activity involving UK users. Authorities are increasingly treating digital assets like any other financial instrument, which means profits from buying, selling, staking, lending, or earning rewards are squarely in scope for taxation. At the same time, the government wants to close loopholes that previously allowed some investors to under-report or simply omit their crypto-related earnings.&lt;/p&gt;
&lt;h1&gt;Exchange Data, Disclosure And Penalties&lt;/h1&gt;
&lt;p&gt;Tax authorities are now making greater use of data obtained from crypto exchanges, payment providers, and other intermediaries. Many platforms have already been compelled to share historical and ongoing user data, including trading volumes, wallet addresses, and cash-in/cash-out activity linked to UK residents. This data-driven approach allows authorities to cross-check tax returns against real transaction histories. Where discrepancies appear, individuals can expect letters, inquiries, or full-blown investigations. In more serious cases, penalties can include substantial fines and, in extreme circumstances, criminal prosecution.&lt;/p&gt;
&lt;h1&gt;What Counts As Taxable Crypto Activity?&lt;/h1&gt;
&lt;p&gt;The crackdown is not just targeting professional traders and large-scale whales. It extends to a wide range of everyday crypto uses that many users may not have previously associated with tax obligations.&lt;/p&gt;
&lt;p&gt;Activities that may be taxable typically include:&lt;/p&gt;
&lt;p&gt;1. Selling crypto for fiat currency at a profit.&lt;/p&gt;
&lt;p&gt;2. Swapping one crypto asset for another where a gain arises.&lt;/p&gt;
&lt;p&gt;3. Using crypto to pay for goods or services when the value has increased since acquisition.&lt;/p&gt;
&lt;p&gt;4. Earning staking rewards, yield from lending, or interest-like returns from DeFi platforms.&lt;/p&gt;
&lt;p&gt;5. Receiving tokens through airdrops, referral bonuses, or as part of employment compensation.&lt;/p&gt;
&lt;p&gt;In most cases, profits fall under capital gains tax rules, though regular, substantial activity or income-style rewards may be treated as taxable income. Accurate record-keeping is becoming essential rather than optional.&lt;/p&gt;
&lt;h1&gt;Impact On Industry&lt;/h1&gt;
&lt;p&gt;For individual investors, the immediate impact is a higher compliance burden. Those who casually traded across multiple exchanges and wallets without tracking their activity now face the challenge of reconstructing their history. Many will turn to specialist portfolio-tracking and tax-reporting tools or seek professional advice to avoid mistakes. Crypto platforms that serve UK users are also under pressure. They may be required to enhance KYC procedures, share data more regularly, and provide clearer tax information to customers. Some smaller providers could reconsider their exposure to the UK market if compliance costs rise, while more established firms may lean into transparency as a competitive advantage. There is also a broader strategic dimension. By tightening enforcement, the UK is trying to position itself as a serious but credible digital asset hub.&lt;/p&gt;
&lt;h1&gt;A New Era Of Responsibility&lt;/h1&gt;
&lt;p&gt;For crypto users in the UK, the era of experimenting without consequences is closing. Digital assets are now being treated as part of the formal financial system, and that comes with responsibilities. Those who proactively review their past activity, correct under-reporting where necessary, and keep meticulous records going forward will be best placed to navigate this new environment. At the same time, the crackdown marks a turning point for the industry. It is a sign that crypto has grown too large and too significant to sit outside the tax system.&lt;/p&gt;

UK Officially Launches Crackdown on Crypto Tax Evasion

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