We can't look back on 2025 without mentioning the Stream Finance & Elixir losses.
Stream Finance suffered a $93 million loss due to external fund manager failure, triggering a catastrophic default for their xUSD token. As the markets scrambled to identify what curators and protocols were exposed, Elixir announced that they had significant allocation in Stream Finance and would not be able to cover the gap to repeg their stablecoin.
The entire event highlighted the need for further transparency in DeFi vaults and asset curation as many curators and strategists were exposed to losses as they so

The total amount of USDC borrowed on @inkonchain reached a new all-time high of $8.9 million on Saturday
🔗

Stablecoins are DeFi’s clearest revenue engine, consistently dominating the top revenue rankings. T
hat said, Hyperliquid and stand out as high earners outside the stablecoin niche.

spot XRP ETFs have officially surpassed $1 billion in net inflows this week

JPMorgan launched “MONY” on Ethereum this week, an RWA fund focused on U.S. Treasuries and fully collateralized repo.
Ethereum already leads by a wide margin in RWA TVL, and this move is likely to extend that lead in the near term.

Ethereum recorded massive net outflows of -$978.45 million.
This signals aggressive accumulation where investors are likely "buying the dip" and withdrawing assets to cold storage or on-chain environments, tightening the liquid supply despite the negative price momentum.

Since late Nov, Polymarket priced a >90% chance of a Dec cut and nailed it ahead of the official announcement while Wall St consensus was split.
Looking ahead, these are the odds for the Jan 28 meeting:
✔️ No change 76%
✔️ 25 bps decrease 23%
✔️ 50+ bps decrease 1%

BTC vs ETH exchange flows diverged strongly this week.
BTC -$1.34B net outflows = supply moving to self-custody, less immediate sell pressure.
ETH +$1.03B net inflows = more liquidity on exchanges after the rally, potential profit-taking/supply overhang.