NYDIG Global Research Director Greg Cipolaro pointed out in the report that stock tokenization will gradually bring benefits to the crypto market, mainly through trading fees. As asset integration and technology mature, tokenized assets may become part of the decentralized finance ecosystem, but this will require time and good infrastructure support.

Federal Reserve Chairman Powell stated that artificial intelligence is having some impact on employment in the United States, but it is not the main cause. He expressed concern that the current AI wave could be more detrimental to the labor market than previous technological revolutions, potentially leading to an imbalance in job numbers, and that the tools to address these impacts are still insufficient.

Golden Finance reports that multiple DeFi and crypto organizations—including the DeFi Education Fund, a16z, The Digital Chamber, Uniswap Foundation, and others—have jointly sent a letter to the SEC criticizing Citadel Securities's stance last week demanding that the SEC strictly define "all intermediaries in tokenized U.S. stock trading." They stated that the SEC's analysis is "flawed" and misrepresents the facts. The crypto industry pointed out that Citadel is attempting to extend SEC registration requirements to any entity "somewhat related" to DeFi trading, mistakenly treating decentralized protocols as traditional "exchanges or brokerages." They emphasized that DeFi operates on autonomous software, without actual asset custody intermediaries, and should not be subject to the same regulatory framework.

Oracle was reported to have delayed the construction of its data centers with OpenAI due to labor and material shortages, but this was later denied, stating that all plans and milestones are on track, and the stock price subsequently rebounded.

BlockBeats News, December 13 – The Office of the Comptroller of the Currency (OCC) has conditionally approved trust bank licenses for five institutions: Ripple, BitGo, DigitalAssets, Paxos, and Circle. "Conditional approval" is a preliminary recognition, indicating that the OCC has reviewed the application and considers the company to meet basic regulatory requirements (such as capital adequacy, risk management framework, and business plan), but it is not a final license. The company must meet specific conditions within a set timeframe to convert this into full operational status. Once all conditions are satisfied, the OCC will issue a final, unconditional national trust bank license, allowing the company to immediately exercise trust bank powers, mainly including: expanding core business operations, managing client assets as a trustee, handling payment settlements, custody of digital assets (such as stablecoin reserves), and providing related financial services.

BlockBeats News, December 12 — Hyperliquid officially announced that the upcoming network upgrade will introduce a Portfolio Margin feature, which has already been launched in pre-alpha mode on the testnet. Under the Portfolio Margin mode, the margin for users' spot and perpetual contract trading will be fully unified, significantly improving capital efficiency. Additionally, the Portfolio Margin account will automatically generate yields on all lendable assets that are not actively used for trading. All HIP-3 DEXes are included in the Portfolio Margin calculation, but not all collateral assets on HIP-3 DEXes are lendable. In the future

BlockBeats News, December 12 — BitMine Chairman Tom Lee recently stated that the Strategy company of Bitcoin encrypted treasury (DAT) establishing a $1.4 billion cash reserve is a "wise move." Although Strategy's stock price has fallen more than 50% over the past six months, this cash reserve will enable the company to continue paying shareholder dividends during Bitcoin price declines without selling its $61 billion Bitcoin holdings. Tom Lee pointed out that during the previous Bitcoin downturn cycle, Strategy's stock trading price was below its net asset value (NAV), and building a cash reserve was precisely to prepare for such situations. As the largest ETH treasury company holding over $12 billion worth of Ethereum, BitMine has not yet built

Foresight News现场报道, Cryptocurrency financial services company Abra CEO Bill Barhydt announced at the Solana Breakpoint conference the launch of AbraFi, a synthetic asset tokenization platform based on Solana. AbraFi will be released to the public in the form of a DAO, not owned by Abra Inc. Governance token AFI holders will receive a majority of the protocol's revenue share and have governance rights over the product mechanism. The first product of AbraFi is a synthetic US dollar.

BlockBeats News, December 12 – Cookie DAO issued a statement regarding the significant price drop after the TGE of the token on Cookie Launchpad. The performance of the token on the day of TGE and afterward is not determined by Cookie. The project team independently decides the fundraising amount, token economics, and liquidity arrangements. Cookie does not participate in the project's treasury, does not set the price, and does not control the market trend after opening. It merely acts as an InfoFi platform: providing tools for project operation, hosting InfoFi activities, and rewarding users who genuinely bring attention, content, and mental share to the project. The current market liquidity is extremely tight, with heavy sell-offs and unpredictable volatility. The community's claim that "Cookie earns a fortune while others suffer heavy losses" is completely false. Cookie does not turn a blind eye to this; it continues to

Odaily Planet Daily reported that the S&P 500 Index closed at a new all-time high again on Thursday. While this is not uncommon in 2025, it has been six weeks since the last record was broken. Ed Clissold, Chief US Strategist at Ned Davis Research, said, “Considering that US companies continue to deliver strong earnings reports, and the US economy has proven to be resilient, the current market sentiment is far from euphoric, which means there is still room for further gains by the end of the year and into early next year.” Noticing that investor enthusiasm is not only subdued at Ned Davis Research, even though the stock market is at an all-time high. Barclays’ “Stock Market Euphoria Indicator” has stabilized but remains well below its early October peak, indicating that the market still has “dry gunpowder” to drive potential year-end gains. (Jinshi)

Odaily Planet Daily News: The Federal Reserve signaled this week its openness to continue cutting interest rates in 2026, which was welcomed by investors. The market had previously prepared for the central bank to implement "hawkish rate cuts," i.e., lowering the benchmark federal funds rate, while also strongly indicating a reluctance to make further adjustments. The US stock market rose along with bonds, with the Dow Jones Industrial Average climbing nearly 650 points (1.3%) on Thursday, reaching a new all-time high. Despite internal disagreements within the Fed and the release of complex signals on Wednesday, many still see signs that even a slight further softening of the labor market could prompt the central bank to cut rates again in the coming months. The Fed announced it will expand its balance sheet by purchasing short-term government bonds, an initiative aimed at easing recent pressures in the overnight lending market, which also reassured investors. Investors expect that the Fed will be very different next year, and Trump has already begun to target this week.

BlockBeats News, December 12 – Proph3t, co-founder of MetaDAO, a governance project in the Solana ecosystem, stated at the Solana Breakpoint conference that MetaDAO implements a true ownership mechanism on Solana through "ownership coins," primarily involving two components: Governance/Market Oversight Component: similar to a DAO but less extreme. Proposals are made 2 to 4 times a year, such as issuing new tokens for OTC investment rounds. Users do not vote but participate through trading. Legal Structure Component: to prevent project rug pulls.

BlockBeats News, December 12, According to Coinglass data, the funding rates for major CEX and DEX platforms indicate that the market has shifted from bearish to neutral. The specific funding rates for mainstream cryptocurrencies are shown in the attached chart. BlockBeats Note: Funding rates are rates set by cryptocurrency trading platforms to maintain the balance between contract prices and the underlying asset prices, typically applicable to perpetual contracts. It is a mechanism for exchanging funds between long and short traders, and the trading platform does not charge this fee. It is used to adjust the cost or profit for traders holding contracts, keeping the contract price close to the underlying asset price. When the funding rate is 0.01%, it indicates the baseline rate. When the funding rate exceeds 0.01%, it represents a generally bullish market. When the funding rate is below 0.005%, it indicates a generally bearish market.

Hyperliquid Strategies announces the launch of a $30 million, 12-month stock repurchase program aimed at boosting the stock price of the company that recently went public and strengthening the value linkage between its stock and the HYPE token. The plan was announced after the company's official listing on NASDAQ, not only to support secondary market performance but also to further expand the company's staked and reserve holdings of HYPE tokens. The establishment of Hyperliquid Strategies stems from the merger of Sonnet BioTherapeutics and Rorschach, a SPAC company under the crypto venture fund Paradigm. The merger was originally scheduled to be completed in November but was finalized on December 2nd, leading to the company's stock beginning trading in early December. As an asset management firm focused on digital assets, Hyperliquid Strategies holds a large amount of HYPE tokens, and this buyback plan will further strengthen its capital position within the token ecosystem.

At the Solana Breakpoint conference, co-founder Anatoly Yakovenko stated that decentralization does not mean the absence of leaders, but rather the emergence of diverse leadership, demonstrating the network's maturity and self-evolution. He is proud of the current leadership role of the network.

PANews December 12th News, according to three sources, the Bank of Japan may maintain its commitment to continue raising interest rates next week, but will emphasize that the pace of further hikes will depend on how the economy responds to each increase. BOJ Governor Haruhiko Kuroda has essentially announced in advance that there will be a rate hike in December, and the market has almost fully priced in the possibility of raising rates from 0.5% to 0.75% in December. The market's focus has shifted to how much the BOJ can raise interest rates to a neutral level. Sources say that although the central bank may internally update its estimate of the policy rate relative to what is considered a neutral level, it will not use this estimate as the main communication tool for future rate hike paths due to the difficulty of making precise predictions. Instead, sources say the BOJ will explain that future rate hike decisions will be based on considerations of how past increases have affected bank lending, corporate financing conditions, and other economic activities. One source stated

The Depository Trust & Clearing Corporation (DTCC) recently received a No-Action Letter from the U.S. Securities and Exchange Commission (SEC), allowing it to develop traditional asset tokenization services over the next three years. This development not only marks a critical step toward the blockchain integration of the U.S. financial markets but also brings significant positive news for Chainlink, as the two parties have maintained close cooperation since 2024. According to the announcement, the Depository Trust Company (DTC), a subsidiary of DTCC, will launch a controlled production environment in the second half of 2026, officially issuing tokenized securities on approved Layer 1 and Layer 2 blockchain networks. The initial batch of tokenized assets will include highly liquid targets such as Russell 1000 index constituents, major ETFs, and U.S. government bonds, including Treasury bills and long-term bonds. During the initial phase, this service will only be open to DTC participants and their clients for strict monitoring.

Matrixport's weekly report indicates that despite the Federal Reserve cutting interest rates, future policy uncertainty has increased, and the market's response to the situation is limited. Bitcoin has fallen below its long-term trend for the first time, overall liquidity remains tight, trading has not yet recovered, emphasizing the importance of position management and risk control.

The Federal Reserve's rate cut again did not trigger a significant rebound in risk assets, and the overall crypto market remains cautious. Dogecoin (DOGE) continues to consolidate above key support levels. On Wednesday, the Federal Reserve announced a 25 basis point cut to the benchmark interest rate, bringing it to the 3.5%-3.75% range. This is the third rate cut this year, but internal disagreements over the future easing path have intensified, making it difficult for market risk appetite to be fully unleashed. Against the backdrop of complex macro sentiment, on-chain activity for Dogecoin remains active. Large whale wallets have increased their holdings by approximately 480 million DOGE in recent days. Although the launch of Dogecoin spot ETFs by Grayscale and Bitwise has attracted market attention, it has not yet led to sustained unilateral trends.

ChainCatcher News, recently, Ms. Yu and her husband transferred 250 RMB as pocket money via China Construction Bank, with the note "This week's Dogecoin." The bank investigated and froze their accounts. Both received calls from CCB staff, verifying their relationship and the reason for the transfer note, which triggered "virtual currency control," and their accounts were set to a "no deposit, no withdrawal" status. The account opening staff told Ms. Yu that to unfreeze the account, she needed to submit her husband's bank statements from the past few months. After approval, she would need to write a letter of commitment, promising that previous transactions were not virtual currency dealings and that they would not participate in virtual currency trading in the future. Her husband strongly opposed the account restrictions and is negotiating with the bank staff. In response, China News Weekly called the China Construction Bank customer service hotline for inquiries. The staff said they have not received any information regarding virtual currency control and recommended consulting the relevant branch for specific details. Subsequently, China News Weekly inquired

The US SEC issues a "No-Action Letter" to DTCC, allowing it to custody and settle tokenized stocks, bonds, and treasuries on the blockchain, providing unprecedented market opportunities for decentralized exchanges (DEXs) to absorb upcoming tokenized liquidity. Nomina co-founder Austin King posted on X: "DTCC is custodying assets worth $99 trillion. Today, they received a no-action letter from the U.S. Securities and Exchange Commission (SEC) regarding their stock tokenization and ETF. I don't know why, but I haven't seen anyone discuss the obvious overlap with decentralized exchanges (DEXs). A key point that is often overlooked is that DTCC itself is not an exchange. It is a custodian. What does that mean?"

Bitwise voiced support for Strategy on the X platform, expressing disappointment over MSCI's proposed removal of Strategy, believing that the index should remain neutral and not evaluate the pros and cons of business models, and pointed out that this move deprives investors of investment opportunities in digital assets.

PANews December 12 News, according to CoinDesk, crypto investment firm Blockstream Capital Partners (BCP) announced in a press release on Thursday that it plans to acquire Corbiere Capital Management. Corbiere Capital Management is a hedge fund based in Jersey, founded by Rodrigo Rodriguez in 2023. Financial details of the acquisition were not disclosed. BCP stated that after acquiring Corbiere Capital Management, it will add equity and event-driven strategies to its existing Bitcoin-related products, building a multi-strategy platform for institutional investors. This merger aims to create a more diversified investment portfolio, combining traditional securities with

PANews December 12 News, according to CoinDesk, the cryptocurrency sector no longer needs to be listed in the Financial Stability Oversight Council (FSOC) annual risk list for the U.S. financial system. However, this is not an isolated case, as the report has actually moved away from focusing excessively on the "vulnerabilities" of the financial system. The 2025 FSOC report's table of contents completely omits the frequently appearing term "vulnerabilities." Treasury Secretary Scott Bessent acknowledged in the opening letter of the report that previous analyses focused on identifying dangers that could disrupt the financial system. This 2025 report does not include "recommendations" for digital assets, nor does it explicitly express concerns about the industry. Its digital assets section details how U.S. financial regulators with cryptocurrency oversight have shifted their previous policy stances. The report largely praises the advantages of the digital assets sector,

Golden Finance reports that according to CCTV News, on December 11th, local time, the U.S. House of Representatives voted 237 in favor and 140 against to shelve the impeachment motion against U.S. President Donald Trump proposed by Texas Congressman Al Green. All Republican members of Congress voted in support of this so-called "shelving motion," and although many Democratic members of the House privately believe Trump should not continue to serve as president or should be impeached, most of them are unwilling to push forward with this resolution.

Odaily星球日报讯 橡树资本管理公司联合创始人霍华德·马克斯警告称，美联储对资金成本的“干预”将在回报环境趋缓之际，推动人们转向风险更高的投资。他称自己并不认为利率有必要大幅低于现有水平。马克斯说：“我认为美联储大多数时候应保持被动，只有在经济严重过热、趋向恶性通胀，或严重低迷、无法创造就业时才出手救助。我认为目前并非这种情况。”本周早些时候，马克斯在一篇博客文章中写道，他对人工智能对就业的影响感到“恐惧”，还质疑超大规模企业在 AI 需求仍不确定的情况下，以极低收益率大量发债为 AI 部署融资的做法。（金十）

BlockBeats News, December 11 – According to CoinDesk, asset management platform Nexo has acquired Argentine crypto investment platform Buenbit, with the specific transaction amount not disclosed. This deal aims to deepen Nexo's presence in Latin America, enabling it to operate under Argentina's regulatory framework and reach Buenbit's user base in the country and Peru. After the transaction is completed, Buenos Aires will serve as Nexo's Latin American headquarters, supporting its expansion into Mexico and Peru. Nexo operates in over 150 jurisdictions with an asset management scale of approximately $11 billion. Buenbit is registered with Argentina's National Securities Commission (CNV) and offers fiat-to-crypto services. Additionally, the Central Bank of Argentina is drafting new regulations planning to allow banks to provide cryptocurrency-related services to customers in the first half of next year.

Foresight News现场报道，Solana Co-founder Anatoly Yakovenko stated at the Solana Breakpoint conference that the key to growth lies in continuously building products that people need. He emphasized that stablecoins are the current clear direction, with an expectation that 1 to 10 trillion US dollars worth of stablecoins will be on-chain in the future, driving the tokenization and on-chain of approximately 500 trillion US dollars in global assets. He pointed out that the strong property rights protection brought by public chains and cryptography do not conflict with free-market capitalism and Wall Street logic but instead complement each other by eliminating faults and risks through software, allowing the financial scale of Wall Street to expand at a faster pace. He stressed that stablecoins are an expansion rather than a replacement of the US dollar. Layer 1, especially PoS networks, have clear value capture mechanisms. Solana aims to occupy as much as possible in this competitive landscape.

BlockBeats News, December 11 — Ethereum treasury company BitMine Chairman Tom Lee stated in the latest podcast Altcoin Daily that the current price of Ethereum reflects not what happened today, but the future. So don’t expect it to rise every day; you need to bet on the "super cycle." Tom Lee believes that the biggest misconception is: even if you discount the future EQM to $5,000 or even $3,000, the end price of Ethereum ten years from now could still be $100,000. "This small difference today is just a tiny fluctuation in the discount rate." But everyone wants instant gratification — press the buy button and make money the next day; if it doesn’t rise, "this coin is a scam." They think they can press the button 1,000 times and win 1,005 times, but in reality, no one can do that.

Odaily Planet Daily News: Cryptocurrency analyst Jason Pizzino's latest research indicates that Bitcoin price may not touch its long-term bottom until October 2026. Currently, BTC trading volume continues to decline, resembling the pattern seen from late 2022 to early 2023, which reduces the likelihood of a short-term bull market return. Meanwhile, CryptoQuant data shows that the share of large investors' deposits on exchanges has dropped from 47% in mid-November to the current 21%, with the average deposit size decreasing by 36%, indicating that selling pressure is weakening. If this trend continues, BTC price is expected to rebound to $99,000. Analysts point out that the 200-day simple moving average acts as a strong resistance, market risk appetite is insufficient, and Bitcoin may need to go through a consolidation period before a new round of market activity begins. (Cointele)

金色财经报道，汇丰证券预测，美联储明后两年将维持利率稳定在周三所设定的3.5%-3.75%区间。此前美联储政策制定者以分化的表决结果将利率下调了25个基点。该机构的美国经济学家Ryan Wang在12月10日的报告中指出，美联储主席杰罗姆·鲍威尔在会后新闻发布会上“对明年FOMC是否及何时进一步降息的问题持开放态度”。“我们认为，FOMC在整个2026年和2027年将维持联邦基金利率目标区间在3.50%-3.75%不变，但随着经济的演变，和过去一样，需始终关注这一展望面临的重要双向风险”。

AllianceBernstein Chief U.S. Economist Eric Winograd stated that the Fed's balance sheet expansion and the resumption of short-term Treasury purchases will only affect the very short end of the U.S. Treasury yield curve and will not impact the long-term portion. The initial goal is to purchase approximately $40 billion in Treasury bills per month.

BlockBeats News, December 11 — The Pacifica trading competition is in full swing. The top addresses on the leaderboard have generated huge trading volumes and achieved substantial profits. According to data from the Pacifica platform, as of now, the third-place address 8wxZY has nearly 9x return on its principal, turning $4,600 into over $40,000 in profit within 90 days. Additionally, the top address (7yPGK) with a $140,000 principal has reached a $1.2 billion trading volume in 60 days, with a profit of about $120,000; the second-place address (7uoQf) with approximately $10,000 principal has made around $32,000 profit in 120 days. Currently, the competition rankings are based on actual trading volume and profits, and some traders who have withdrawn funds are temporarily not included in the statistics. Specially for Pacifica to...

Flashbots Strategy Director Hasu states that excessive intervention by token holders in startups can lead to value loss. Many founders regret issuing tokens and recommend avoiding token issuance until fully prepared, emphasizing the importance of maintaining founders' control over the company.

The Federal Reserve cut interest rates by 25 basis points as scheduled, and the market reacted quickly, with Ethereum emerging as the biggest winner. Although Bitcoin hovered around $92,000, ETH successfully held its pre-meeting gains above $3,300, highlighting its sensitivity to liquidity cycles. This round of gains was not driven by leverage but by a structural reevaluation fueled by spot demand. CryptoQuant data shows that despite ETH prices rising, the funding rates in the derivatives market remain low, indicating that the typical high-leverage bubbles associated with upward movements have not appeared. On-chain data also supports this trend. Santiment reports that in the three weeks leading up to the Federal Reserve meeting, "whales" and "sharks" accumulated approximately 1 million ETH, worth over $3.1 billion. This suggests that institutions were betting early on a continued easing cycle by the Fed rather than aggressive tightening. Meanwhile, the approximately $66.5 billion in stablecoin reserves (dry powder) on exchanges provides strong potential buying pressure for the rally.

Bitcoin remains resilient after the Federal Reserve's third rate cut this year, with a brief correction but still stabilizing above $90,000. Over the past 24 hours, the cryptocurrency market has declined by about 3%, mainly due to traders' disappointment over policy expectations not being met and large holders selling off. Previously, the market widely anticipated a more dovish stance, so after briefly reaching $92,000, Bitcoin experienced profit-taking, causing Ethereum, Solana, XRP, ADA, and Dogecoin to fall in tandem. The overall market capitalization also decreased from $3.22 trillion to $3.07 trillion. There are still disagreements within the Federal Reserve regarding the future direction of monetary policy, and the plan to possibly purchase up to $40 billion in Treasury bonds over the next 30 days further increases market uncertainty. With no additional rate cuts scheduled in the near term, investors will focus on the next FOMC meeting in January 2026.

Pi Network today officially launched the mainnet migration option within the app, attracting widespread attention from the global community. Users have noticed the new toggle switch has appeared, signaling that the project is taking another significant step toward full mainnet deployment. According to the core team's previous plan, mainnet features will be gradually rolled out from late 2025 to early 2026. This update aligns perfectly with the roadmap and is seen as an important signal that the ecosystem is moving from the preparation phase into the execution phase. The launch of the mainnet migration feature follows Pi Network's major technological breakthrough in the KYC system. Starting from late 2025, the team introduced a new AI review model, greatly improving user identity verification efficiency. According to user feedback, the previously frustrating long queues for verification have been significantly improved, with approval cycles shortened to 3 to 14 days. The new AI model not only enhances document recognition accuracy but also addresses delays in manual review stages, reducing backlog by nearly half and paving the way for large-scale mainnet migration.

Author of The Big Short and well-known investor Michael Burry recently issued a strong warning regarding the Federal Reserve's plan to purchase $40 billion worth of T-bills within a month. He believes that this move exposes the structural fragility of the U.S. banking system rather than stability as perceived by the outside world. At the same time, this policy direction could create new downward pressure on Bitcoin (BTC) and the broader crypto market. Federal Reserve Chairman Powell stated that this bond purchase is a "reserve management operation" and not quantitative easing (QE). However, Burry pointed out that the Fed has continued to expand its balance sheet while the banking system is under pressure, indicating that the market still struggles to move away from liquidity support. He emphasized that bank reserves have now exceeded $3 trillion, far above the $2.2 trillion level before the 2023 regional banking crisis. He warned that if the banking system must rely on such a large "lifeline" of liquidity, it is not strong but fragile.