This article is reposted from Chaincatcher.
Author: BlockBeats
Solana Breakpoint 2025 will be held from December 11 to 13 in Abu Dhabi, UAE, gathering over 6,000 developers and project teams from more than 100 countries to focus on the latest developments and future growth of the Solana ecosystem.
Industry leaders such as Raoul Pal, co-founder and CEO of Real Vision; Anatoly Yakovenko, co-founder of Solana; Lily Liu, chair of the Solana Foundation; and Mike Novogratz, founder and CEO of Galaxy, attended and delivered speeches. BlockBeats will provide real-time updates and reports from the conference, with the latest content as follows:
December 12
Figure has submitted a native stock issuance application to the SEC
On December 12, Mike Cagney, executive chairman of Figure’s board, stated at the Solana Breakpoint conference, “About a week and a half ago, we released another update—equivalent to a second IPO, as we are issuing a new version of Figure equity natively on the public chain.
This issuance will not go through DTCC, nor will it be traded on Nasdaq or NYSE, and it will not rely on referral brokers like Robinhood, nor on the prime brokerage services of institutions like Goldman Sachs. This is a security native to the blockchain, traded on Figure’s own Alternative Trading System (ATS), essentially a decentralized trading platform: self-custody, self-execution, self-market.
Investors will be able to bind these securities to an ATS wallet instead of a traditional referral brokerage account; then they can use this equity for collateral lending, borrowing, etc., in DeFi.”
Kamino co-founder: Fixed-rate and term lending products are coming soon for true rate price discovery
On December 12, Marius, co-founder of the Solana ecosystem liquidity protocol Kamino, stated at the Solana Breakpoint conference, “We are about to launch fixed-rate, fixed-term lending products. Users will be able to choose the rate and term and transact at that rate.
This mechanism allows institutions that need to determine financing costs to enter the market while also enabling asset rotation strategies to secure stable spreads.
We are collaborating with Fal X (one of the largest brokers in our market), and one important sub-component is lending intentions—it allows both borrowers and lenders to place orders at their desired rates, achieving true rate price discovery on-chain and forming an on-chain yield curve.”
Drift co-founder: Mobile app to launch in Q1 2026
On December 12, Cindy, co-founder of the Solana ecosystem DeFi protocol Drift, stated at the Solana Breakpoint conference, “We will launch a mobile app in the first quarter of next year.
This will be the first native application integrating multi-collateral accounts on mobile, and it will also include: Launch App Store, native mobile experience, and upcoming native liquidity provision tools to bring deeper liquidity and faster transaction efficiency.”
Perp DEX aggregator Ranger: Token public sale to raise $6 million
On December 12, FA2, a developer from the Solana ecosystem perpetual contract aggregation platform Ranger Finance, stated at the Solana Breakpoint conference, “We are ready to issue Ranger tokens. The most suitable issuance platform for Ranger is MetaDAO, with a minimum fundraising target of $6 million, which will also become the highest target fundraising amount for this platform to date.”
Metaplex announces the official release of the first public version of Genesis SDK, enabling anyone to build issuance platforms or access token data
On December 12, Stephen, chief design officer of the Solana ecosystem digital economy platform Metaplex, stated at the Solana Breakpoint conference, “The first public version of Genesis SDK is now officially online. Genesis SDK will empower various applications—such as trading platforms that want to create dedicated Launchpads and aggregators that want to monitor and alert traders.
When new tokens go live on-chain, any application can integrate and immediately use the smart contracts for fair issuance models.”
Bulk co-founder: Solana is currently the best ecosystem to build on
On December 12, Jun, co-founder of the Solana ecosystem DEX Bulk, stated at the Solana Breakpoint conference, “As market makers, we quickly realized that Solana is currently the best ecosystem to build on when trading across different platforms, spot, and perpetual markets—not only because of the excellent team but also due to the highest net asset inflows, the most diverse community, and a rich product offering. However, it has always lacked a truly professional trading experience, and the issues ultimately boil down to a few key points: latency, a robust risk engine, and user experience. We came to Solana to solve this problem.”
Backpack founder: Solana is the only network capable of large-scale decentralized execution
On December 12, Armani Ferrante, founder of Backpack, stated at the Solana Breakpoint conference, “Solana is the only network capable of large-scale decentralized execution. Over the past few years, developers have explored a vast design space on how to solve scalability issues. Back in 2017 and 2018, there were probably hundreds of projects that raised hundreds of millions or even billions of dollars. But as far as I know, Solana seems to be the only project that can truly achieve this under large-scale conditions.”
HumidiFi developer: Solana is completely reshaping retail finance, HumidiFi spreads “outperform” Binance
On December 12, Ben, a core team member of the dark pool DEX HumidiFi, stated at the Solana Breakpoint conference, “On the path to transforming the world, Solana can now clear tens of thousands of transactions per second at nearly zero cost. Anyone globally can access it—through new seat licenses and membership tiers, entering a fully open, permissionless market with Wall Street-level quality, programmable, and global in nature.
We recently built a decentralized trading platform called ‘HumidiFi,’ which offers tighter spreads than Binance, with an average execution spread of just a few basis points. But what I really want everyone to realize is: this system is completely reshaping retail finance. Retail investors can now achieve better spreads than any traditional brokerage platform, averaging down to a few basis points.
Currently, this system accounts for 60% of all on-chain trading volume—and we are just getting started.”
Solana co-founder: Most recently revenue-breaking startups are built on Solana, ecosystem expansion accelerates
On December 12, Raj Gokal, co-founder of Solana, stated at the Solana Breakpoint conference, “Among the 20 companies that recently reached $100 million in revenue, most are from the crypto industry, and most of these companies are built on Solana. This has always been our initial goal.
I believe that to achieve this, it requires the ‘entropy’ brought by thousands of entrepreneurs—they continuously explore various potential value propositions using block space. And I feel that Solana now has this ecological momentum. Events like the ‘Colosseum’ hackathon are growing larger, with over 1,700 teams participating each time.
When we used to talk about scaling, a common metric was: what percentage of global financial business can go on-chain. I believe Solana has the opportunity to accelerate its share in the crypto space over the next 10 years. And the reality is that the pace of development in the crypto industry is much faster than we anticipated back in 2017.
At that time, we could not imagine that the U.S. would have such a clear regulatory environment today, nor could we imagine receiving support from some major countries—they are starting to issue assets on-chain, and major banks are gradually joining in. So I believe Solana should raise its original on-chain target to 25%, and Solana can at least capture a 10% share of this market.”
Solana co-founder Toly: No longer has official GitHub commit access, network moving towards true decentralization
On December 12, Anatoly Yakovenko, co-founder of Solana, stated at the Solana Breakpoint conference, “What I like most is that decentralization does not mean the absence of leaders, but rather the rich emergence of leaders. Over the past five years, many people have stepped up—from those in the foundation and Labs, to community members, builders of applications and protocols that are not part of these initial organizations—they have truly taken on leadership roles for the entire network.
At this point, I no longer even have GitHub commit access, and it only took me two minutes to speak on stage. My goal is to sit in the audience—I feel this means seeing the entire network truly mature and have its own life. I am very proud of this.”
Anza VP: Reducing Solana block state costs, account creation rent will decrease by 10 times
On December 12, Brennan Watt, vice president of core engineering at Anza, stated at the Solana Breakpoint conference that proposal SIMD-0389 could reduce Solana account creation rent by 10 times, potentially scaling up to a 100 times reduction.
Note: In the Solana network, Account Rent refers to a “storage fee” mechanism that must be paid for an account to permanently store data on-chain.
According to Anza’s analysis of the security slowdown mechanism, this change was discussed at the recent SolanaConf and could release broader adoption by reclaiming hundreds of millions of dormant SOL while maintaining network security.
Solana ecosystem MEV-based liquid staking reward protocol Toby to launch token
On December 12, the MEV-based liquid staking reward protocol Toby in the Solana ecosystem announced at the Breakpoint conference that it will launch the TOBY token, aiming to bring foundational yields to Solana through OpenMEV.
It is reported that OpenMEV plans to serve the $10 billion real yield demand in the ecosystem and will be integrated into several mainstream protocols such as Jupiter, Sanctum, Kamino, and Drift.
Jupiter stablecoin JupUSD expected to launch next week
On December 12, Jupiter announced at the Solana Breakpoint conference that its stablecoin JupUSD is expected to launch next week.
BlockBeats previously reported that on October 8, Ethena partnered with Jupiter to launch the native Solana stablecoin JupUSD. The token is planned to go live in the fourth quarter. Jupiter plans to “gradually convert” about $750 million of USDC in its liquidity provider pool into JupUSD.
Solana Breakpoint 2026 summit to be held in London, UK
On December 12, according to official news, the Solana Breakpoint 2026 summit will be held for the first time at the Olympia Exhibition Centre in London, UK, from November 15 to 17, 2026.
December 11
Raoul Pal: The current bull market cycle should peak in 2026, cryptocurrencies are essentially a macro asset
On December 11, Raoul Pal, former Goldman Sachs executive, author of “Global Macro Investor,” and co-founder and CEO of Real Vision, stated at the Solana Breakpoint conference:
“The decline in labor force participation means a shrinking labor population. And demographic structure is key to driving debt. Population growth will continue to decline, which means the debt-to-GDP ratio will continue to rise, and that is the problem.
We have to face the global debt issue, and currency devaluation has always been a way to address (or rather postpone) this issue. We are starting to see signs that the Federal Reserve has to reconsider its balance sheet and start thinking about how to ‘monetize’ all this debt. Over the next 12 months, we need to print about $8 trillion in cash through liquidity injections.
I know many people may think the crypto cycle is over and that ‘the good days are gone.’ But in fact, what drives all this is cyclical, not from the Bitcoin halving cycle, but driven by debt maturity cycles.
So, I believe this is not a 4-year cycle, but a 5-year cycle. In a 5-year cycle, we have now passed the trough of the cycle, and the next step is the upward phase, with the cycle expected to peak at the end of 2026, not 2025. This is a breakthrough understanding for us as global macro investors: understanding that cryptocurrencies are essentially a macro asset.
Moreover, the altcoin/Bitcoin cross rate is driven by the business cycle, and the business cycle seems to be bottoming out, not peaking.”
Solana co-founder: Stablecoins are the clear direction now, Solana aims to capture as much market share as possible in competition
On December 11, Anatoly Yakovenko, co-founder of Solana, stated at the Solana Breakpoint conference that the core of achieving growth lies in continuously building the products that people need. He emphasized that stablecoins are the clear direction now, with an expectation that $1 to $10 trillion in stablecoins will go on-chain, driving the gradual tokenization and on-chaining of approximately $500 trillion in global assets.
Toly stated that the strong property rights protection and free-market capitalism brought by public chains and cryptography do not conflict with Wall Street logic, but rather complement each other by eliminating faults and risks through software, thus expanding the financial scale of Wall Street at a faster pace. He emphasized that stablecoins are expanding rather than replacing the dollar, and that L1, especially PoS networks, have clear value capture mechanisms, with Solana aiming to capture as much market share as possible in this competition.
Lily Liu: SOL spot ETF has seen nearly $1 billion in net inflows in six weeks, DAT company will act as a bridge connecting Solana and the public market
On December 11, Lily Liu, chair of the Solana Foundation, stated at the Solana Breakpoint 2025 conference:
“Solana is the first blockchain platform to establish a policy research institute. Today, it is imperative for every institution to formulate a digital asset strategy. As these institutions enter the blockchain space, they are increasingly choosing Solana. Western Union processes over $60 billion in remittances annually and has chosen Solana. Pfizer handles $20 trillion in merchant payments annually and has also chosen Solana. Other institutions are following suit.
Of course, ETFs are a major theme this year. We have finally welcomed the physically-backed Solana staking ETFs—they made a significant entry into the Solana ecosystem about six weeks ago, and in just six weeks, the assets under management have approached $1 billion. While the overall market has performed poorly, we have seen continuous net inflows for three consecutive weeks. Six physically-backed Solana staking ETFs have already been listed in the U.S. market.
Another important theme this year, although somewhat controversial, is DAT (Digital Asset Treasury). Many view DAT as a short-term liquidity tool, but we hold the opposite view. Because Solana is one of the few platforms that allows enterprises to build both at the infrastructure layer and the asset layer. We believe DAT will be a long-term ecosystem company that will act as a bridge connecting Solana with the public market, building infrastructure, asset management systems, and integrating all these functions.”
Coinbase executive: DEX trading feature based on Solana has been launched in the app
On December 11, Andrew Allen, head of Solana products at Coinbase, stated at the Solana Breakpoint conference that Coinbase has launched DEX trading features based on Solana within its app, allowing users to trade any Solana-based tokens directly in a familiar interface, with payments made using USDC, cash, bank accounts, or debit cards, while the entire slippage and routing are handled automatically in the background.
Andrew stated that Coinbase is fully expanding its native support for Solana, and in the future, users will be able to see Solana assets directly in the app, ensuring that they can reach millions of Coinbase users without the need for a token listing process, even with sufficient liquidity.
Bitwise co-founder: Applications in the Solana ecosystem truly utilize the last 1% of network performance
On December 11, the co-founder and CIO of Bitwise stated at the Solana Breakpoint conference that compared to networks like Ethereum, applications on Solana truly utilize the last 1% of performance, providing users with the next marginal liquidity and scalability.
On many chains, running a node is simply “downloading software, double-clicking to start,” and after that, it hardly matters who stakes more or less; the applications that can be built for the network and users are almost the same; but on Solana, the application landscape changes daily, with protocols, performance, and capacity rapidly iterating, and node performance directly determines the ceiling.
Because of this, we are particularly concerned: when this product (referring to staking ETFs/trusts) locks in more and more SOL and its weight increases, it must make the ecosystem, developers, users, and even the entire community feel that its scale expansion will not “break” the market structure or ecosystem, but rather make the network more stable, reliable, and capable of supporting the next round of innovation.
Paxos CEO: Applied to the SEC for a clearing agency license to natively issue on-chain stocks and bonds
On December 11, Chad Cascarilla, co-founder and CEO of Paxos, stated at the Solana Breakpoint conference that Paxos has applied to the SEC to become a clearing agency, which will enable it to directly custody and natively issue on-chain stocks and bonds, allowing users to hold real underlying assets rather than derivatives. He emphasized that this will lay a key foundation for the large-scale on-chaining of traditional financial assets.
Cascarilla stated that Paxos aims to drive traditional assets into the on-chain environment and continuously expand in the fields of stablecoins and asset tokenization, including the growth of USDG and gold tokenization products. He believes that public chains will become a unified asset trading arena globally, significantly enhancing market accessibility and liquidity.
Galaxy DeFi head: Solana is the only blockchain capable of supporting tokenized securities
On December 11, Marcantonio, head of Galaxy DeFi, stated at the Solana Breakpoint conference, “Galaxy Digital is listed on Nasdaq as a publicly traded stock. But we chose to tokenize our stock on Solana because we believe Solana is the only blockchain that has the required speed and efficiency to support tokenized securities.
We hope Solana can achieve absolute dominance so that when you compare the prices of the same assets on Solana and Nasdaq, you will choose to buy on Solana. That is our ultimate goal.”
Anza chief economist Max Resnick: SOL trading volume on the Solana network is now three times that of Binance, competition is extremely fierce
On December 11, Max Resnick, chief economist at Anza, stated at the Solana Breakpoint conference, “We reached 100,000 TPS in May. Not on the testnet, nor in the white paper, but in the official launch. The market structure is also evolving in real-time: proprietary market makers are tightening the spreads, and now the SOL-USD trading volume is already three times that of Binance, with competition being extremely fierce, and the order books are getting tighter and deeper every day.”
Circle CEO: Circle Gateway to launch on Solana
On December 11, Jeremy Allaire, co-founder and CEO of Circle, stated at the Solana Breakpoint conference that Circle will soon launch Circle Gateway on Solana, enabling cross-chain instant access to a unified USDC balance feature.
Sunrise CEO: Successfully launched MON, trading volume exceeded Hyperliquid and several CEXs in the first 24 hours
On December 11, Saeed, CEO of the Solana ecosystem liquidity gateway Sunrise, stated at the Solana Breakpoint conference that Sunrise’s first asset launch case on Solana is the MON token. We brought a non-native token that was not originally issued on Solana directly into the Solana ecosystem on its launch day, in its first minute. It not only competes with all other trading venues on-chain but also faces off against numerous CEX competitors.
As a result, within 24 hours of its listing, its trading volume exceeded that of well-known platforms like Hyperliquid, KuCoin, Kraken, Coinbase, Bybit, Bitget, and Gate—some of which have user bases exceeding a million. Even more impressively, it has tighter spreads than these established CEXs, with higher trading volumes, all supported solely by the native user base of Solana.
Additionally, Saeed believes that if assets can be issued on Solana and that asset can be competitive like its centralized counterparts, then this is not just a matter of listing crypto tokens, but can also include stocks, commodities, or any financial products.
Helius CEO: Suggests investors buy BSOL to help developers build faster applications
On December 11, Mert, CEO of Helius, stated at the Solana Breakpoint conference that investors can purchase BSOL, a stock token managed by us issued by Bitwise (i.e., the Bitwise SOL spot ETF), but because you bought it, we use the proceeds to make the network run faster—thus your transaction directly helps developers build applications faster.
Circle CEO: Solana’s appeal is growing, more platforms are adopting USDC on Solana as their primary infrastructure
On December 11, Jeremy Allaire, CEO of Circle, stated at the Solana Breakpoint conference that Solana’s trading volume far exceeds that of all other chains. The infrastructure of Solana is becoming increasingly mature, and its appeal is growing day by day. More and more large platforms aimed at consumers and merchants are using USDC on Solana as their preferred infrastructure.
DoubleZero co-founder: 15 core contributors are providing fiber optic cables for Solana to create a high-performance alternative internet
On December 11, Austin Federa, co-founder of DoubleZero, stated at the Solana Breakpoint conference that DoubleZero has many independent contributors—now increased to 15—who are contributing fiber capacity to the Double Zero network. These are real physical fiber cables that are being integrated to create a completely independent transmission path for Solana.
This “crowdsourced fiber” approach is unprecedented: all existing high-performance chain networks are operated by a single company holding a master private key; Double Zero has no such “single point,” but instead, 15 contributors each lay and control their own fiber lines.
Yat Siu: Animoca Brands has invested in over 628 portfolio companies, about 200 of which are gaming projects
On December 11, Yat Siu, co-founder and director of Animoca Brands, stated at the Solana Breakpoint conference that Animoca Brands has invested in over 628 portfolio companies, of which about 200 are gaming projects. He believes Bitcoin is akin to digital gold, while altcoins are like the stock market, serving as the growth engine of the crypto space. Given that altcoins carry real use cases, their total market capitalization will eventually far exceed that of Bitcoin.
OSL Group to issue stablecoin USDGO on Solana
On December 11, Zhang Yinghua, chief business officer of OSL Group, stated at the Solana Breakpoint 2025 summit that OSL Group will launch the USD stablecoin USDGO in partnership with the Solana network. OSL Group will serve as the brand and distributor of USDGO, while Anchorage Digital Bank will be the issuer.
It is reported that USDGO will be pegged to the US dollar at a 1:1 ratio and will be subject to U.S. federal regulation, with plans for a formal launch in the first quarter of 2026. Solana will be the first public chain to deploy USDGO, with plans to expand to more chains in the future. This is not just “another stablecoin,” but a truly compliant stablecoin payment infrastructure for enterprises and institutions.
Bhutan announces the issuance of the world’s first sovereign-backed gold token TER on Solana
On December 11, government officials from Bhutan announced at the Solana Breakpoint 2025 summit another milestone collaboration with Solana, taking a key step towards becoming a “crypto-friendly nation”:
On December 17, 2025—Bhutan’s National Day—the world’s first sovereign-backed gold token will go live on the Solana chain. The token is named “TER,” which means “treasure” in Bhutanese.
It is reported that TER will be a SPL token anchored 1:1 to Bhutan’s treasury gold, auditable in real-time, and settled in seconds, marking its first entry into the on-chain world.
Solayer mainnet Alpha version officially launched, supporting real-time financial applications
On December 11, Solayer officially released its InfiniSVM mainnet Alpha version. InfiniSVM is a hardware-accelerated blockchain capable of sustaining a throughput of 300,000 transactions per second, with sub-second final confirmation speeds. This network enables developers to deploy existing Solana applications while achieving outstanding performance, unlocking application scenarios in high-frequency trading, real assets, and institutional finance.
Users can connect SOL through sBridge and immediately interact with deployed applications. Developers can access documentation and deployment tools to start building applications on InfiniSVM.
This release coincides with the Solana Breakpoint held in Abu Dhabi, marking Solayer’s integration into the Solana ecosystem and its commitment to providing support while continuously expanding its capabilities in demanding application categories.
Galaxy founder: Solana is still viewed as a blockchain network “born for capital markets”
On December 11, Mike Novogratz, founder and CEO of Galaxy, stated at the Solana Breakpoint conference:
“As regulation becomes clearer, the industry has entered a phase of ‘must truly build products that users will use.’ The value of crypto assets is driven by community and actual growth, and narratives must be supported by real usage and innovation. Solana, with its high-speed performance, is seen as a chain ‘born for capital markets,’ and Galaxy’s collaboration with Jump is also based on its capabilities in high-frequency infrastructure.
The crypto market has shown volatility this year, but I remain optimistic personally. Just this year, one of Galaxy’s clients completed a $9 billion Bitcoin sell-off transaction, with early investors cashing out some profits to diversify their portfolios. Meanwhile, a steady stream of new entrants continues to buy Bitcoin. I have been attending conferences in Abu Dhabi for the past few days, further reinforcing my optimistic outlook. Abu Dhabi Finance Week has gathered top investors from around the globe, including capital giants. After communicating with these industry leaders, I am more convinced that the global wave of embracing blockchain and digital assets is accelerating, not slowing down.”
Kyle Samani details Solana ACE: Will allow developers to specify custom sorting rules
On December 11, Kyle Samani, co-founder of Multicoin and chairman of Forward Industries (FORD), stated at the Solana Breakpoint conference that ACE (Application-Controlled Execution) will allow developers to specify custom sorting rules while still operating on a single global system with a global liquidity pool.
As part of Solana’s “Internet Capital Markets” roadmap for July 2025, ACE grants smart contracts millisecond-level control over transaction sorting, combining traditional financial microstructure with blockchain scalability to reduce fragmentation in DeFi.
Jito co-founder: Solana is winning the speed race, network block computation limits will leap to 100 million computation units early next year
On December 11, Buffalu, co-founder and CEO of Jito, stated at the Solana Breakpoint conference that Solana is winning the speed race, which has become very clear. “Over the past few years, we have witnessed a sixfold increase in transaction volume per second, thanks to the collective efforts of all Solana ecosystem engineers and excellent application developers.
In the chart on the right, you can see the continuous growth of block space over the past few years. At the beginning of this year, Solana’s per-block computation limit was about 48 million computation units, which was then increased to 50 million, 60 million computation units. It is expected to leap to 100 million computation units early next year and continue to grow exponentially.”
Disclaimer: This article is reposted content and reflects the opinions of the original author. This content is for educational and reference purposes only and does not constitute any investment advice. Digital asset investments carry high risk. Please evaluate carefully and assume full responsibility for your own decisions.
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