BlackRock deposits 36,579 ETH into Coinbase Prime, Federal Reserve's Williams states that policy is in a favorable position, US stocks open higher, Hong Kong to issue some stablecoin licenses early next year, US government shutdown affects CPI reliability, Federal Reserve promotes payment account innovation.

1. Trump Candidate Claims Bitcoin Checks Government Spending
Trump Fed Chair Candidate Warsh states that Bitcoin is a check on government spending. -Original text
2. Coinbase CEO: US Government Holds Bitcoin Reserves
Coinbase CEO states that the US government now holds strategic Bitcoin reserves and notes that this situation will continue. -Original text
3. Citi Predicts US Non-Farm Payroll Report May Send Conflicting Signals
The US non-farm payroll report to be released next Tuesday will include data for October and November. Citi economists point out that the latest employment report may send more conflicting signals, with an estimated decrease of about 45,000 jobs in October and an increase of 80,000 in November. Citi economists say this rebound may be more related to seasonal data adjustments. Citi predicts the unemployment rate will rise from 4.4% to 4.52%, according to a Reuters survey.

1. Five Cryptocurrency Companies Approved for U.S. Bank Licenses
Five cryptocurrency companies received provisional approval for U.S. bank licenses. -Original
2. Fed's Goolsbee: Rate Cuts Not Out of the Question in the Long Term
Fed's Goolsbee stated that it does not mean the Federal Reserve cannot consider rate cuts in the long term. -Original
3. Gold Prices Break $4350, Hit Record High
Gold prices broke through $4350. -Original
4. People's Bank of China Will Flexibly Use Tools Like RRR Cuts and Rate Reductions to Support Economic Growth
The Party Committee of the People's Bank of China emphasized at a meeting to continue implementing moderately loose monetary policy and accelerate financial supply-side structural reforms. The meeting pointed out that promoting stable economic growth and reasonable price increases are important considerations for monetary policy, employing various monetary policy tools like RRR cuts and rate reductions flexibly and efficiently to maintain ample liquidity. At the same time, it will strengthen coordination with fiscal policy and guide financial institutions.

🚀 Event Review
Recently, the ETH market experienced rare and intense volatility. On the news front, expectations of Federal Reserve rate cuts in the US strengthened, economic data was delayed, and policy uncertainties continued to dampen market sentiment; meanwhile, on-chain security incidents occurred frequently—such as the ZEROBASE frontend being hacked, leading users to authorize malicious transactions and resulting in the theft of some USDT funds. Additionally, large whale accounts (like “Maji Big Brother” and others) faced forced liquidation of long positions, causing panic to spread rapidly in the market. Many investors reduced their holdings and adopted a wait-and-see approach, directly driving ETH prices down sharply in a short period.
⏱️ Timeline
22:53: The market learned that officials expect possible rate cuts in 2026, which exacerbated liquidity concerns and panic sentiment.
22:59: On-chain security incidents were reported, with the ZEROBASE frontend being hacked, exposing some users' funds to risk and triggering concerns about on-chain security.

In the accelerating period of the global economic digital transformation, digital currencies have become a new focus of major power competition. Recently, the Trump administration introduced a series of groundbreaking cryptocurrency policies aimed at establishing the United States as the "Global Cryptocurrency Center," thereby continuing and strengthening dollar hegemony in the digital financial era.
This strategy involves not only financial regulation and technological innovation but also implicitly aims at reshaping the international power structure. The following is an analysis of this strategy from the perspectives of strategic motivation, policy measures, challenges faced, and future prospects.
1. Strategic Motivation: Maintaining Hegemony and Responding to Internal and External Pressures
The Trump administration's push for a cryptocurrency strategy is driven by multiple motivations, encompassing both practical considerations in economics and finance and deep strategic ambitions.
1. Easing Debt Pressure and Enhancing the Attractiveness of USD Assets
● The US federal debt has surpassed $36 trillion, with debt-to-GDP ratio exceeding 120%. Meanwhile

The U.S. Securities and Exchange Commission is about to hold a crypto roundtable to discuss the balance between privacy technology and financial regulation. Participants include privacy technology builders such as the founder of Zcash, who will explore the application of technologies like zero-knowledge proofs in compliance. The meeting will have a significant impact on the regulatory direction of the crypto market and the price fluctuations of privacy coins.

As Fed Chair Powell announced a 25 basis point rate cut, silver prices surged through a historic high to $61, bond yields did not fall but instead rose, gold experienced slight fluctuations, and Bitcoin unexpectedly plummeted.
In the early morning of December 11, 2025, the Federal Reserve announced that the federal funds rate target range would be lowered by 25 basis points to 3.5%-3.75%, marking the third rate cut of the year.
The policy statement stated that US economic activity is expanding modestly, but new employment has slowed, and inflation remains somewhat elevated. This rate cut, which was fully anticipated by the market, triggered a series of unconventional market reactions.
I. Policy Shift
At the last FOMC meeting of 2025, the Federal Reserve duly announced a 25 basis point rate cut. Since the start of this rate cut cycle in September 2024, this is the sixth rate reduction.
● The policy statement pointed out that the softening signals in the labor market were the main reason for this rate cut.

When Trump was at a White House event and pointed casually to the crowd saying, “There's still a ‘potential’ Federal Reserve Chair sitting here,” Wall Street's ears perked up. The individual he mentioned, Kevin Hassett, an economist holding millions of dollars worth of Coinbase stock, instantly became the focus of global financial markets.
According to the latest data from prediction market Polymarket, Hassett's chances of becoming Federal Reserve Chair have soared to 78%. This steep curve not only reflects capital bets but also signals a profound reshuffling of power is imminent.
This is not just a personnel change but a potential upheaval that could undermine the independence of the Federal Reserve, reshape U.S. monetary policy, and bring a historic turning point for the crypto market. As insider information leaks out, a blueprint of the printing press “merging” with the Treasury Department gradually emerges—a scenario led by crypto stakeholders.

1. US Initial Jobless Claims Rise to 236,000, Higher than Expected 220,000
US initial jobless claims for the week ending December 6 reached 236,000, surpassing the forecast of 220,000. The previous figure was revised from 191,000 to 192,000. -Original
2. US President Trump Praises Stock Market Performance
US President Trump praised the stock market. -Original
3. Dovish Federal Reserve Supports Risk Assets; Short-term Bonds and Gold May Become Less Attractive
After Federal Reserve Chair Powell expressed concerns about the labor market, Wall Street bets that the Fed will cut interest rates twice or more by 2026. Scott Helfstein, an analyst at Global X, stated that a dovish Fed should generally be favorable for risk assets, especially growth stocks and cyclical stocks, and industries related to corporate investment cycles may also be in a favorable position. Scott Helfstein

The market remained calm after the Federal Reserve's rate decision in the early morning, but several whale addresses transferred hundreds of millions of dollars to exchanges. On-chain data reveals a hidden capital flow that most people haven't noticed.
As of the morning of December 11, an address known as the "1011 Insider Whale" holds approximately 120,000 ETH, worth nearly $400 million. Its unrealized profit from a 5x leveraged long position exceeds $12 million.
Another highly watched "BTC OG Insider Whale" has undergone a massive asset reorganization over the past few months, reducing its BTC holdings from 88,000 to about 37,000 and reallocating most of the funds into ETH, involving tens of billions of dollars.
1. Market Background
● In the early morning, the Federal Reserve announced the latest rate decision, lowering the benchmark interest rate by 25 basis points to 3.50%-3.75%. This rate cut, in line with market expectations, did not influence the crypto market.

The Federal Reserve cut interest rates by 25 basis points to 3.50% to 3.75%, reflecting internal disagreements and a cautious signal for future policy. The market’s response is mixed, with traditional assets rising while cryptocurrencies retreat due to anticipated adjustments. Future economic trends will be influenced by employment data and political factors, with market expectations shifting towards higher thresholds for rate cuts.

In December 2025, within the US financial regulatory system, an unusual "appeasement" and "alliance" quietly took shape. Policy makers in Washington D.C. are attempting to confront the disruptive challenges brought by digital assets in an unprecedented way.
1. A Carefully Curated "All-Star" List
● On December 11, acting Chair of the US Commodity Futures Trading Commission, Caroline Pham, announced the official establishment of the "CEO Innovation Committee under the Digital Asset Market Advisory Committee." Although the name is somewhat lengthy, this organization has already sent shockwaves through Wall Street and the crypto world due to its initial members.
This 12-person list is a meticulously designed balance:
● Traditional Pillars: Leaders from established financial giants such as Teri Duffy, CEO of the Chicago Mercantile Exchange Group (CME), and Adena Friedman, CEO of Nasdaq, are among them.

The Federal Reserve cut interest rates as scheduled on December 11, lowering the benchmark rate to 3.50%-3.75%, with unprecedented internal disagreements. The policy statement indicated a signal to slow down the easing pace while initiating short-term government bond purchases to maintain liquidity, signaling precautionary measures to address market pressures.