- Popular CEX Cryptocurrencies
Top 10 CEX Trading Volumes and 24-Hour Price Changes:
- BTC: +0.83%
- ETH: +1.76%
- BNB: +0.96%
- SOL: +0.57%
- DOGE: +0.77%
- BAR: +3.28%
- TRX: +1.34%
- ZEC: -1.67%
- ASTER: -2.48%
- ATM: +4.25%
24-Hour Price Increase Rankings (Data Source: OKX):
- YGG: +17.19%
- MET: +11.13%
- AVNT: +10.67%
- LUNA: +8.77%
- NIGHT: +8.48%
- VELO: +6.95%
- PARTI: +6.14%
- SPK: +5.85%
- SKY: +5.21%
- ONE: +4.96%
24-Hour Stock Price Increase Rankings (Data Source: msx.com):
- LUNR.M: +37.6%
- HYPD.M: +28%
- FLY.M: +26.56%
- CRWV.M: +23.61%
- RKLB.M: +22.41%
- ONDS.M: +17.95%
- APLD.M: +17.7%
- ASTS.M: +17.25%
- ABTC.M: +16.98%
- NBIS.M: +16.12%
- Top 5 On-Chain Memes (Data Source: GMGN):
- Beat
- GUA
- VELO
- XPIN
- LAB
Headlines
North Korean Hackers Steal $2.02 Billion in Cryptocurrency in 2025, Setting a New Record
According to Chainalysis monitoring, North Korean hackers stole a record $2.02 billion in cryptocurrency in 2025, a 51% increase from 2024, accounting for 76% of the total amount of cryptocurrency services stolen globally for the year. Despite a significant reduction in the number of attacks, the profitability of individual attacks has significantly increased, with the Bybit attack in February resulting in losses of $1.5 billion. Since records began, North Korean entities have stolen a total of $6.75 billion.
Chainalysis noted in the preview of the "2026 Cryptocurrency Crime Report" that the targets of North Korean hackers have shifted from decentralized finance protocols to centralized exchanges and other core infrastructures. Their money laundering patterns exhibit high-frequency small transactions, with over 60% of funds being split through transfers of less than $500,000. Additionally, hackers have gained system access through social engineering tactics by impersonating recruiters or strategic partners. Experts urge the industry to adopt behavior-based monitoring tools to address increasingly complex state-sponsored cybercrime.
Hassett: Trump Seeks Data-Dependent Candidates for Federal Reserve Chair
The Director of the National Economic Council at the White House, Hassett, stated that the three-month average of core inflation is currently 1.6%; Trump is seeking data-dependent candidates for the Federal Reserve Chair.
South Korean Central Bank Plans to Restart Central Bank Digital Currency Testing
The South Korean central bank has recently sent a formal document to major banks regarding the second round of CBDC testing, considering issuing part of the government subsidies in the form of digital currency. The aim is to use CBDC to restrict the use of subsidies and reduce the management and administrative costs associated with subsidy distribution. However, a South Korean central bank official stated that details, including specific methods and timelines, are currently under discussion.
In response to the "50 million USDT phishing attack," the Ethereum Community Foundation stated on the X platform that the practice of truncating addresses (e.g., 0xbaf4b1aF…B6495F8b5) should be stopped immediately, and address information needs to be displayed in full. Hiding parts of the address can create unnecessary risks. Moreover, some UI options provided by certain wallets and blockchain explorers also pose security issues that can be resolved. It is reported that the phishing attacker previously generated an address with the same first and last three digits, and the victim transferred 50 million USDT to the similar address generated by the attacker without carefully checking the copied address.
Opinion: The Crypto Market Has Not Yet Shown Enough Panic to Confirm a Bottom
Santiment stated that social media sentiment shows that the crypto market has not yet exhibited enough panic to confirm a bottom. Santiment founder Maksim Balashevich pointed out that there is currently an optimistic attitude online regarding a short-term reversal of the downward trend, which is a sentiment typically not seen at true market bottoms. According to Maksim Balashevich's observations, Bitcoin's price could further decline to around $75,000, a drop of about 14.77% from the current price level of approximately $88,000. Additionally, the Bank of Japan raised interest rates to 0.75% on Friday, a move that previously triggered a roughly 20% pullback in Bitcoin. Fidelity's Global Macro Research Director Jurrien Timmer believes Bitcoin could fall to $65,000 in 2026. Meanwhile, the Crypto Fear and Greed Index has been in the extreme fear range since December 14, with a score of 20 on Sunday.
Industry News
Victory Securities has notified clients that starting December 19, a prohibition on buy operations will be implemented for virtual asset accounts identified by the system as coming from mainland China IP addresses. Sources indicate that this move is in response to recent measures to strengthen regulation of virtual asset trading in mainland China.
Senator Lummis Decides Not to Seek Reelection in 2026, Crypto Community Expresses Regret
The cryptocurrency industry expressed regret over U.S. Senator Cynthia Lummis's announcement that she will not seek reelection in 2026. Cynthia Lummis stated that although she is a devoted legislator, she feels that her energy cannot support another six-year term. Collin McCune, head of government affairs at a16z, remarked that without Cynthia Lummis's efforts in Congress, the crypto industry would not have achieved its current success. David Sacks, the White House AI and cryptocurrency director, described her as a great ally in the crypto space. Previously, Cynthia Lummis had strongly advocated for the "Responsible Financial Innovation Act" and the "U.S. Clarity Act," aimed at providing regulatory clarity for digital assets. Multicoin's executive partner Kyle Samani stated that while Cynthia Lummis has decided to step down, the work on policy-making is not yet complete, and there is still legislation to be passed in 2026.
Science and Technology Daily published an article titled "Digital Renminbi Application Accelerates, Beware of These Fraud Traps," in which Liu Xiaochun, director of the Shanghai Financial Digitalization Research Center, revealed that criminals are spreading information about purchasing digital renminbi wallets through instant messaging tools, lured by high returns, and then using the acquired digital renminbi wallets to carry out telecom fraud, money laundering, and other illegal activities. There are also criminals designing fake activity pages to extract personal information and steal funds. Additionally, Dong Ximiao, deputy director of the Shanghai Financial and Development Laboratory, pointed out that preventing digital renminbi fraud hinges on recognizing its ordinary nature as legal tender, eliminating all greed for "quick money," and protecting wallet passwords and verification codes as one would protect physical cash.
Cryptocurrency platform Mercado Bitcoin released a report showing that Brazil's cryptocurrency activity significantly increased in 2025, with total trading volume growing by 43% year-on-year, and the average user investment surpassing $1,000. The report indicates that 18% of investors allocate funds to multiple crypto assets, indicating a shift from single-asset investment to diversified investment. Stablecoins have also become an important entry point for both new and old investors, with trading volume approximately three times that of the previous year.
Project News
Market News: Polymarket Plans to Launch Ethereum L2 Service and Migrate from Polygon
@polymarketbet posted on the X platform that Polymarket team member Mustafa announced important information in the Discord community, stating that Polymarket plans to migrate from Polygon and launch an Ethereum L2 service called POLY, which is currently a top priority.
Mustafa stated that Polymarket plans to abandon all third-party providers such as GoldSky and Alchemy and complete the migration as soon as possible. Additionally, Polymarket will launch a 5-minute market this week.
Polymarket Copy Trading Bot Injected with Malicious Code to Steal Private Keys
The GitHub project polymarket-copy-trading-bot has been injected with malicious code. The program automatically reads the wallet private keys from the user’s .env file upon startup and transmits them to a hacker server through a hidden malicious dependency package, excluder-mcp-package@1.0.4, resulting in asset theft.
LIGHT: 24-Hour Trading Volume Reaches $2.13 Billion, Price Drops 77.7% in Five and a Half Hours
Analyst Ai Yi posted on the X platform that the price of LIGHT dropped 77.7% within five and a half hours. The token's 24-hour trading volume reached $2.13 billion, making it one of the top three tokens by 24-hour contract trading volume on Binance, second only to BTC and ETH. Coinglass data shows that long and short positions were liquidated for a total of $4.84 million. The value of LIGHT holdings decreased from $53.32 million before 4 AM to the current $18.79 million, but the contract position increased from 11.97 million LIGHT to 18.79 million, with a large holder long-short ratio of 1.63.
Investment and Financing
Special purpose acquisition company Launchpad Cadenza announced that its Class A common stock and warrants have completed their initial public offering on Nasdaq, raising a total of $230 million, with the funds now held in trust. Cantor Fitzgerald served as the sole book-running manager for this issuance. The company stated that it will seek to merge with technology and software infrastructure companies in the blockchain, fintech, and digital asset ecosystems.
Regulatory Trends
The Hong Kong Insurance Authority has proposed new regulations aimed at guiding insurance funds into the crypto assets and infrastructure sectors. According to a presentation document dated December 4, the regulator intends to impose a 100% risk capital requirement on crypto assets, while the risk capital requirement for stablecoin investments will depend on the fiat currency to which the stablecoin is pegged.
The Hong Kong Insurance Authority stated that it has initiated a review of the risk capital regime this year, with the primary goal of supporting the development of the insurance industry and the broader economy. The proposal is expected to undergo public consultation from February to April next year, followed by legislative submission. Additionally, the new regulations will involve incentives for infrastructure investments, proposing capital benefits for investments in infrastructure projects linked to Hong Kong, mainland China, or those in the Northern Metropolis development area, to support the local infrastructure construction plans of the SAR government. As of 2024, the total premium income of Hong Kong's insurance industry is approximately HKD 635 billion.
U.S. Lawmakers Propose Tax Exemptions for Small Stablecoin Payments and Staking Rewards
U.S. legislators have introduced a discussion draft that would alleviate the tax burden on ordinary cryptocurrency users by exempting capital gains tax on small stablecoin transactions, including a $200 tax exemption for stablecoin payments, and providing new deferral options for staking and mining rewards. According to the draft, if a stablecoin is issued by an authorized issuer under the "GENIUS Act," is pegged to the U.S. dollar, and maintains a trading price within a narrow range around $1, users would not need to report gains or losses on transactions not exceeding $200.
Voices
Vitalik Buterin: Prediction Markets Are Healthier Than Traditional Markets and Help Seek Truth
Vitalik Buterin posted on the Farcaster platform that prediction markets are an antidote to the crazy opinions surrounding emotional issues. He believes that the worst-case scenario for prediction markets is that they induce harm for profit, but small-scale prediction markets for large-scale events do not fall into this category. Traditional stock markets also have similar drawbacks, as political participants can profit from disasters by shorting stocks.
Vitalik Buterin pointed out that prediction markets have advantages over social media and mainstream media. Social media lacks accountability, while prediction markets ensure that systems tend to seek truth over time through profit and loss mechanisms, with probabilities displayed more accurately reflecting the world's uncertainties. Since prediction market prices are constrained between 0 and 1, they are healthier than ordinary markets and are less affected by reflexivity, the greater fool theory, or pump-and-dump schemes.
Arthur Hayes: Altcoin Seasons Always Exist, Investors Misjudge Due to Not Holding Rising Assets
Arthur Hayes stated in a YouTube podcast interview that altcoin seasons are always happening, and investors believe that an altcoin season has not yet arrived because they do not hold rising assets. He pointed out that many traders still expect altcoin seasons to repeat past patterns, tokens, and narratives, and suggested that traders should adjust their mindset to focus on new market developments rather than relying on history. He views Hyperliquid as the best case in this cycle so far, with its token HYPE rising from $2 to $3 to $60, and mentioned Solana's performance from $7 to nearly $300. Arthur Hayes emphasized that the altcoin season is already happening; it's just that some investors are not participating.
Tom Lee responded to the debate regarding contradictions between his and Fundstrat analysts' outlooks on Bitcoin, stating that Fundstrat executives do not base their work on a single unified forecast but rather operate based on different investment objectives. Farrell's comments reflect a defensive position strategy focused on drawdown risk, capital flows, and cost basis, aimed at reducing the cryptocurrency allocation in model portfolios rather than being long-term bearish. Mark Newton's views are entirely based on chart structures. Tom Lee indicated that his role focuses more on macro liquidity cycles, structural market changes, and the impact of institutional investors and ETFs on Bitcoin cycles.
Wang Chun, co-founder of F2Pool, responded on the X platform to the "50 million USDT phishing attack," stating, "Last year, I suspected my private key had been leaked. To confirm whether the address was really stolen, I transferred 500 Bitcoins to that address. To my surprise, the hacker 'generously' only took 490 Bitcoins, leaving me with 10 Bitcoins, enough for me to get by."
Danny Ryan, co-founder of Etherealize, stated in an interview that while the Trump administration has promoted crypto legislation, the industry may face political backlash after Trump leaves office due to conflicts of interest with companies backed by his family. Danny Ryan emphasized that the crypto industry must accelerate its development during the current policy window by attracting financial institutions, global capital, and entering capital markets to prove its fundamental value as a global critical infrastructure.
Danny Ryan pointed out that if crypto technology can be deeply embedded in the financial system, future regulatory pressures will be more inclined to modify usage rather than completely eradicate it. Additionally, Etherealize observed during the CLARITY Act hearings that the Democratic Party's focus on Trump's conflicts of interest has somewhat hindered the legislative process. Danny Ryan called on the industry to reduce its politicization by proving its tool attributes and value.
CryptoQuant: Bitcoin Demand Shrinks and Falls Below Key Moving Averages, Entering Bear Market Cycle
According to monitoring by CryptoQuant, Bitcoin demand growth has significantly slowed since October 2025, indicating that Bitcoin has entered a new bear market cycle. Analysts noted that the three waves of investment demand in this cycle (approval of spot ETFs, the 2024 U.S. elections, and corporate financial asset allocation bubbles) have largely been released. In the fourth quarter, ETF holdings decreased by approximately 24,000 BTC, and perpetual contract funding rates fell to their lowest level since December 2023. Additionally, Bitcoin's price has fallen below the 365-day moving average of approximately $98,172, which serves as a key dynamic support level for the asset. While some analysts expect a price rebound driven by interest rate cuts in 2026, current market sentiment is in a state of fear, with only 22.1% of investors anticipating a rate cut at the January FOMC meeting.
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