The U.S. Senate confirms Michael Selig as CFTC Chair and Travis Hill as FDIC Chair. CFTC's regulation of the cryptocurrency market may expand, and it is expected to impact the rules for Bitcoin futures and Ethereum derivatives trading. The market should pay attention to future regulatory developments.

Cardano founder Charles Hoskinson criticized current cryptocurrency policies in an interview, especially the launch of personal Meme coins and national reserve plans. He believes that the government should not interfere in the market to avoid distorting competition. His stance led to his exclusion from the dinner with the president and losing the opportunity to discuss.

A seasoned trader currently holds a long position in cryptocurrencies worth $237 million but faces an unrealized loss of $40.3 million, especially with the Ethereum liquidation price only $100 away from the spot price. Previously, he nearly got liquidated during market volatility, and the current situation is concerning.

Enovum Data Center under WhiteFiber has signed a 10-year long-term hosting agreement with Nscale Global Holdings, valued at a total of $865 million, leasing a 40 MW data center specifically designed for AI applications. This trend indicates a rapid increase in demand for specialized data centers and AI infrastructure.

The U.S. President is evaluating the next Federal Reserve Chair, interviewing several candidates and will announce the decision soon. This choice will have a significant impact on global financial markets, cryptocurrency capital flows, and investor confidence, with the market paying attention to whether it will continue or shift the policy framework.

【BlockBeats】The next move of the Federal Reserve draws attention. According to CME Fed Funds Futures data, there is a 73.4% probability of maintaining the current interest rate level in January next year, while the chance of a 25 basis point rate cut is about 26.6%. This data reflects the market's latest forecast on the Federal Reserve's policy direction and is of significant reference for both crypto assets and traditional financial markets.

【BlockBeats】 The recent market volatility has been quite intense. According to on-chain data, in the past 24 hours, the total liquidation amount reached $484 million, including $336 million from long positions being wiped out and $148 million from shorts. What does this scale of liquidation indicate? It shows that traders in the market are still using significant leverage, especially those chasing high prices to go long. Looking at these numbers, both longs and shorts are struggling to withstand the fluctuations, with longs making up a larger proportion. In this situation, it's essential to control leverage ratios carefully, as the market is so active that volatility can instantly wipe out margin.

【币界】有人统计了一组数据：比特币在3月、6月、9月这三个月分别跌了16.6%、8.5%和7.9%。巧合的是，这些跌幅都出现在期权大规模到期的时间窗口，业内叫"四巫日"。每当大规模衍生品合约集体到期，市场流动性和价格就容易出现剧烈波动。这种现象已经被多次观察到，值得交易者留意。

【Crypto World】Since the launch of the XRP spot ETF in mid-last month, it has performed strongly, attracting funds for 30 consecutive days, with a total net inflow ranging between $1.5 billion and $2 billion. Does this data sound unimpressive? Let’s compare—this makes it the fastest cryptocurrency spot ETF in the US to surpass $1 billion in assets under management after Ethereum, with a remarkable speed.
Looking at the performance of Bitcoin and Ethereum ETFs, it’s quite interesting. The entire market has seen approximately $10 billion in capital outflows from these two leading products. What are investors doing? They are turning to products like XRP and Solana to seek new growth opportunities. This reflects a very realistic investment logic: when the overall crypto market is declining, funds shift among leading products, attempting to capture rebounds in different sectors through diversification.
The success of XRP is attributed both to market recognition of its application scenarios and to investors’ confidence in its potential.

The Middle East is promoting tokenization, with the UAE incorporating it into the core of its national economic strategy, upgrading the virtual asset regulatory framework, streamlining real estate registration processes, fostering economic diversification, and attracting substantial institutional capital, making it a new model for the global tokenized economy.

【Blockchain Rhythm】A senior executive from a certain leading exchange recently shared his views on the blockchain ecosystem during the year-end exchange. His attitude was straightforward: focus on builders and continuously create value.
He mentioned that his approach to the development of BNB Chain is actually very simple. Most of the time should be spent focusing on work, occasionally looking up to observe the competitive landscape and industry trends, and finding the right position. But the key is always focus—regardless of ranking, these titles are not important. What truly matters is to persist in doing what you are best at and continuously create real value for ecosystem participants.
He also has a particularly interesting point: the scale of the BNB ecosystem itself should, in an ideal state, surpass any single application or protocol within the ecosystem, including the exchange platform itself. This is similar to the relationship between NASDAQ and the companies listed on it—many companies have a market value far exceeding that of the exchange, which is completely normal. The ecosystem can be large or small, and the focus is on

XRP experienced $2.38 million in long liquidations, with the position ratio imbalance reaching 122,680%. The price dropped from $1.86 to $1.83, and although the decline was small, it triggered a chain reaction for highly leveraged longs. This once again highlights the importance of risk management in leveraged trading.