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On today’s episode of CNBC Crypto World, major cryptocurrencies are moving lower on the last trading day of 2025. Plus, Trump Media announced the company will distribute a new digital token to its shareholders. And, John D’Agostino, head of strategy of Coinbase Institutional, discusses the crypto exchange’s 2026 Crypto Market Outlook report.

Bitcoin is on track to post its first annual loss since 2022, as macroeconomic pressures and fading momentum weighed on the world’s largest cryptocurrency. But crypto ‍market structure legislation and carve-outs from ⁠SEC rules that should fix core, longstanding problems for the industry are yet to come, threatening to sap the industry’s