U.S. Treasury Department Debt Surpasses $30 Trillion
On December 5, the U.S. Treasury Department’s total sovereign debt issuance topped $30 trillion for the first time, more than doubling since 2018.
Figures released Thursday show outstanding Treasury bills, notes and bonds stood at $30.2 trillion as of November—this sum accounts for a major share of the U.S. federal total debt.
As of November, the U.S. national debt has reached $38.4 trillion, including obligations to the Social Security trust fund, savings bondholders and other creditors. Data from the Securities Industry and Financial Markets Association indicates the U.S. raised $4.3 trillion via those three bond types in 2020, when the fiscal deficit exceeded $3 trillion. While the deficit has since narrowed (to roughly $1.78 trillion in fiscal 2025), interest payments on the debt alone total $1.2 trillion.
Jason Williams, a rate strategist at Citigroup, noted: “The biggest challenge is interest payments. Even if tariff revenue hits $300–400 billion, it’s still far less tha
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The SEC Holds Meeting on Tokenization Regulation Issue, Revealing Divergence Between Traditional Finance and Crypto Companies
Thursday, December 5
Executives from Citadel Securities, Coinbase, Galaxy and other firms discussed tokenization at a meeting of the SEC’s Investor Advisory Committee. While tokenization encompasses a range of assets, its core is representing real-world assets on-chain; the panel advises the SEC on regulatory matters and investor protection.
BlackRock Senior Managing Director and Global Head of Market Development Samara Cohen noted the meeting featured diverse views. The six-person panel represented “different developmental paths and perspectives,” she said, adding the discussion was valuable and differing viewpoints reflect current challenges—suggesting “there may not be just one solution.”
The day before (Wednesday), some crypto advocates criticized a letter Citadel Securities submitted, which drew online pushback from parts of the crypto industry for urging the SEC to impose stricter rules on decentralized finance (DeFi) involving tokenized securities.
Earlier Thursday,
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TON-Based MicroStrategy AlphaTON Submits $420 Million Shelf Registration Statement to SEC
AlphaTON Capital Corp. — the Nasdaq-listed reserve firm for The Open Network (TON) token (ticker: ATON) — said Thursday it has filed a shelf registration statement with the U.S. Securities and Exchange Commission (SEC) for $4.2069 billion.
The funds will support the company’s expansion into artificial intelligence (AI) and high-performance computing (HPC) infrastructure, which aims to provide computing power to Telegram’s Cocoon AI network. They will also fuel AlphaTON’s acquisition strategy targeting revenue-generating companies within the Telegram ecosystem.
AlphaTON noted it has identified multiple high-potential acquisition targets, including startups focused on payments, content distribution and blockchain services within the TON ecosystem. The capital will also be used to build the company’s TON token reserve and reserves for other related digital assets.
Additionally, the firm has converted most of its balance sheet assets into Toncoin and staking positions, while explo
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Base Launches Solana Cross-Chain Bridge, Enabling Bi-directional Asset Interoperability
On December 5th, Coinbase-owned Ethereum Layer 2 network Base launched a cross-chain bridge connecting to Solana.
The bridge allows Solana assets to be used natively on Base and enables Base assets to migrate to Solana. Powered by Chainlink’s Cross-Chain Interoperability Protocol (CCIP), it’s secured via dual verification messages from Coinbase and Chainlink nodes.
Separately, the SOL-USDC liquidity pool on the Aerodrome platform has officially gone live, with trading now underway.
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CNBC announced it will fully integrate Kalshi's prediction market data across its TV, digital, and subscription platforms.
December 5
CNBC has struck a multi-year deal with prediction market operator Kalshi to fully integrate real-time prediction data across its TV, digital, and subscription platforms.
Per a Thursday announcement, starting in 2026, Kalshi’s event probability data will be woven into CNBC’s programming—including shows like *Squawk Box* and *Fast Money*—with a dedicated on-screen display to show real-time prediction trends.
Kalshi will also launch a CNBC-branded section on its platform featuring prediction markets curated by the media outlet.
Kalshi CEO Tarek Mansour said the integration marks the “next stage in the evolution of financial reporting,” shifting from reporting data as it occurs to real-time predictions of future trends.
CNBC President KC Sullivan noted that prediction markets are emerging as a key tool for understanding major events, describing Kalshi’s data as a “powerful complement” to the network’s news coverage.
The deal comes on the heels of Kalshi announci
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The first SUI ETF, the "21Shares 2x Long SUI ETF," has been approved for listing and trading.
On December 5, ETF issuer 21Shares launched the first U.S. ETF tracking the price of SUI, adding to the rising number of cryptocurrency ETFs rolled out this year.
The 21Shares 2x Long SUI ETF (ticker: TXXS) has been approved for trading on the Nasdaq Stock Market.
Bloomberg senior ETF analyst Eric Balchunas noted that leveraged cryptocurrency ETFs are relatively rare. TXXS marks the 74th crypto ETF launched in 202X (note: original didn’t specify year, keep as is if no context) and the 128th overall. “We expect another 80 cryptocurrency ETFs to launch over the next 12 months,” he added.
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