21 Oaks Capital
Monthly Review

21 Oaks Newsletter — December 2025

1 January 2026·2 min read

BREAKING

  • Polymarket obtains CFTC approval as a regulated US exchange (intermediated access) and launches its US relaunch, including an iOS app via waitlist.

MORE

  • The US SEC closes its investigation into the Aave protocol without enforcement after nearly four years.
  • Texas becomes the first US state to buy Bitcoin for its state reserve ($10 million) via BlackRock (BLK)’s spot Bitcoin ETF.
  • JPMorgan Chase (JPM) is evaluating Bitcoin spot and derivatives trading for institutional clients.
  • Kalshi partners with CNN and CNBC, integrating prediction market data into news formats.
  • Visa (V) launches USDC settlement for VisaNet in the US using Circle (CRCL)’s USDC.
  • PayPal (PYPL) integrates PYUSD into USD.AI for onchain financing of AI infrastructure.
  • SoFi (SOFI) launches the fully collateralized stablecoin SoFiUSD for settlement, remittances and POS.
  • JPMorgan Chase (JPM) brings the tokenized money market fund “MONY” to Ethereum.
  • Exodus (EXOD) and MoonPay plan a USD stablecoin for the Exodus ecosystem (H1 2026).
  • Coinbase (COIN) raises $269 million for Monad in its first token sale.
  • Crypto M&A reached a record volume of $8.6 billion in 2025, according to the Financial Times.
  • Galaxy Digital (GLXY) acquires Alluvial Finance, adding liquid staking to its offering.
  • Strategy builds a USD reserve of $1.44 billion to fund preferred dividends.
  • Ethereum activates the Fusaka upgrade with PeerDAS for more efficient L2 data availability.
  • Ethereum raises the block gas limit to 60M as a step toward L1 scaling.
  • The BaseSolana bridge goes live, secured by Chainlink CCIP and Coinbase (COIN) nodes.
  • S&P Global (SPGI) downgrades Tether stablecoin USDT on peg stability from “4” to “5 (weak)”.
  • The Solana Foundation is working with Project Eleven on post-quantum security and testnet signatures.
  • Solana withstands a DDoS attack of up to 6 Tbps without noticeable performance degradation.
  • Kalshi tokenizes all markets on Solana and opens them to onchain liquidity.

SPEAKERS’ CORNER

  • A brief note on our own behalf: our public fund “Bankhaus Bauer x 21 Oaks AI & Blockchain Innovation Fund” (WKN A3EKRN), which we launched last year together with our partner Bankhaus Bauer AG, has made it into the final (top 4) of the Future Fundstars**.**
  • Future Fundstars is an annual competition created by Fundview together with NFS Netfonds and** Azemos Vermögensmanagement**, and today ranks among the most significant awards for emerging fund boutiques and investment talent.
  • At the Fondskongress in January 2026 in Mannheim,** Christian Wieschnewski (Bankhaus Bauer) and Edgar Heimbach** will present the fund and its underlying strategy to an expert jury and interested investors.
  • Further information: https://www.fundview.de/posts/2025/12/2025-12-09-future-fundstars-staffel-sieben-die-finalisten.html Source

Translated from the German original, which is the authoritative version. Read the German version