Maple’s fundamentals are driving outperformance

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Maple (SYRUP) is up 26% over the past week, outperforming all other money markets in our lending index. Alongside Sky, it is the only asset in the index with a positive year-to-date performance, and by a broad margin, up 112% vs. Sky’s 7%. What’s driving Maple’s strength, and how has it remained resilient despite challenging market conditions?

Maple, as one of DeFi’s longest-standing lending protocols, was able to come back from the 2022 credit crisis by pivoting away from undercollateralized lending toward a fully secured, overcollateralized model, with an institutional approach:…

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Despite Being Volatile, Bitcoin Is Looking Strong

It’s been a turbulent and volatile fourth quarter for Bitcoin in 2025. BTC has endured a turbulent December, with prices dropping nearly 9% and volatility spiking to levels not seen since April 2025.

In its latest mid-December “ChainCheck” report, VanEck’s digital asset analysts painted a nuanced picture: while on-chain activity remains weak, liquidity conditions are improving, and speculative leverage appears to be resetting, offering cautious optimism for long-term holders.

The firm highlighted the contrasting behaviors between different investor groups. Digital Asset Treasuries (DATs) have been actively buying the dip, accumulating 42,000 BTC — their largest addition since…

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Stablecoins: Evolution, Not A Revolution

Technologies tend to have a natural ceiling built into their utility and popularity. Once they’ve solved all the problems they can solve, their growth is effectively capped. As soon as all potato fans own a potato peeler, the peeler market’s growth potential is largely tapped out. Indeed, the big question around AI at the moment is how many problems it will be able to solve. The market could already be overblown, or it could be practically limitless.

What about stablecoins? They’ve grown from practically nothing at the turn of the decade to a market cap in the mid-12 digits and monthly transaction volumes in excess of $1 trillion. Citigroup expects the aggregate stablecoin market…

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Arizona Introduces Bill To Exempt Bitcoin From Taxes

Arizona state Sen. Wendy Rogers has introduced a package of legislation aimed at reshaping how digital assets are treated under state and local tax law, renewing a broader push by some lawmakers to position Arizona as a jurisdiction with clearer and more favorable rules for cryptocurrencies and blockchain infrastructure.

In bills prefiled with the Arizona Senate, Rogers proposed amending state statutes to exempt virtual currency from taxation (SB 1044), prohibiting counties, cities and towns from taxing or fining entities that operate blockchain nodes (SB 1045), and advancing a constitutional amendment to clarify how digital assets fit into Arizona’s property tax framework (SCR…

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Russia Cracks The Door To Bitcoin For Retail Investors

The Bank of Russia has set out a new framework to regulate cryptocurrencies, proposing tiered access that would allow everyday investors to buy digital assets alongside professional market participants, while maintaining tight controls on risk and usage.

In a concept paper released Tuesday and submitted to the government for review, the central bank said both qualified and non-qualified investors would be permitted to acquire crypto assets, but under different rules, limits and testing requirements. 

The move marks another step in Russia’s gradual shift toward accommodating digital assets as sanctions reshape financial flows and market infrastructure.

Earlier this year,…

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