【Block Rhythm】The large trader on Hyperliquid known for short positions has recently taken new action.
This trader's ZEC short position, after turning from a loss to a profit, has begun to reduce their holdings actively. Data from December 17 shows that their ZEC short position shrank from $16.5 million to $9.1 million, with an average entry price of $389. Interestingly, they did not close all positions but instead used part of the funds to short MON. Currently, this MON short position is about $9.2 million, with unrealized gains reaching $4.62 million—an ROI of 150%.
You should know how persistent this trader is. They started shorting ZEC as early as October 10, at an average price of $184. Since then, they kept adding to their position to average down, trying to turn the tide. But by October 17, the position was at its worst, with unrealized losses hitting $21 million, and the short position even surged to $43.2 million. So

【Crypto World】Coingecko recently shared an interesting data set on X — the global ranking of countries most interested in Meme coins. The top three are the United States, India, and Nigeria, followed by Germany, Turkey, Vietnam, the Netherlands, the Philippines, Brazil, and Indonesia.
Among them, the United States is particularly interesting. Due to adjustments in regulatory attitudes, local users' traffic accessing Meme coin-related content has actually increased by 30%. It seems policy changes can also give a boost to popularity.
However, overall, Meme coins haven't been having a good time lately. Since the beginning of this year, interest in Meme coins in the crypto market has plummeted by 81%. DOGE remains the leader in this field, with nearly 47.3% market share, while other coins can only look up in envy.
Remember that wave of hype at the end of last year? The enthusiasm for AI concept coins and the US presidential election fueled coins like GOAT and FARTCOIN.

【Blockchain Rythym】Japan's political circles have revealed the latest developments in the reform of the cryptocurrency tax system. According to sources, the government is pushing to adjust virtual currency trading profits from the current "miscellaneous income" system to an independent self-assessment system, expected to be implemented starting January 2028.
Why the delay until 2028? The official explanation is to first confirm the actual market operation after the revision of the Financial Instruments and Exchange Act, and then implement the new tax system. It sounds reasonable, but investors are a bit tired of waiting.
What is the current situation? Trading gains from cryptocurrencies are classified as "miscellaneous income," combined with wages, bonuses, and other income, with a top tax rate of up to 55%. In contrast, stock trading is taxed separately at only 20%, making the difference quite significant.
Industry insiders and investor groups have been calling for years, hoping that cryptocurrencies can enjoy the same 20% tax rate as stocks. This would both reduce the burden on investors and attract more capital.

The latest US employment data underperformed, indicating a weakening labor market, but consumer spending remains robust. The Federal Reserve faces pressure to reconsider interest rate cuts, with the likelihood of a cut in 2026 increasing. Although hawkish members may take over, pushing for rate cuts remains challenging, but ongoing cooling of the labor market could prompt policy easing.

【Chain News】Matrixport has transferred 1000 BTC to Binance in the past two days, equivalent to $86.9 million. This transfer was captured by Onchain Lens. Large institutional entries or cash-outs always attract market attention, so keep a close eye on these on-chain data.

Recently, the security team discovered a serious vulnerability in Futureswap. Attackers exploited flash loans to manipulate voting rights, successfully passing malicious proposals and gaining contract permissions. This incident serves as a reminder for DeFi users to stay vigilant and check wallet status to protect assets.

The Hyper Foundation proposes to confirm through validator voting that the HYPE tokens in the aid fund have been burned and permanently removed. The tokens are stored in a system address without a private key, making withdrawal impossible. The voting aims to build social consensus, ensure that future protocol upgrades do not attempt to access this address, clarify the current status, and set boundaries for protocol governance.

The crypto market generally rebounded yesterday, with BTC rising 2.01% to break through $87,000, while ETH slightly increased by 0.12%. The SocialFi sector led the gains with a 3.53% increase, and MANTRA surged by as much as 12.90%. The AI and NFT sectors experienced a pullback, declining by 1.37% and 1.68%, respectively.

The article points out that the profit model of Layer 1 public chains is changing, and investors are no longer willing to pay for infrastructure. Major public chains are facing profit pressure. Most of the stablecoin revenue is captured by the issuers, and public chains need to find ways to internalize economic benefits to change the current situation.

A leading exchange has launched an annual membership system, where users pay an annual fee to enjoy Bitcoin cashback and financial benefits, aiming to stabilize revenue and enhance user stickiness. This shift reflects the industry's thoughts on the future development of exchanges, emphasizing the importance of diversified services and revenue sources.

U.S. Senator Warren warns that decentralized exchanges (DEX) pose national security risks, specifically mentioning PancakeSwap's links to money laundering and hacking activities. She calls on the Treasury Department and the Department of Justice to explain regulatory gaps and to pay attention to the potential political impact of the USD1 stablecoin, reflecting the government's deep concern over certain cryptocurrency risks.

The Marshall Islands implemented the world's first on-chain Universal Basic Income (UBI) program on the Stellar blockchain, using the digital sovereignty bond USDM1. This bond is fully backed by short-term US Treasury bonds and is directly distributed to citizens via digital transfers, ensuring fund security and legal validity, demonstrating the country's innovative attempt in blockchain financial exploration.

【Crypto World】Wallet service provider Exodus and payment solution provider MoonPay are teaming up to make a move in the stablecoin space. The two plan to launch a dollar-pegged stablecoin jointly issued and managed by MoonPay and M0.
This coin has significant use cases—it serves as the foundation for Exodus Pay, a new product. What is Exodus Pay aiming for? It’s about enabling users to complete everyday payments with crypto assets, simply put, giving the coin some practical use cases.
Their schedule targets an official launch in January 2026, but the prerequisite is to get regulatory approval. Frankly, stablecoins with payment features involve compliance issues, and regulatory approval is unavoidable.
Looking at the entire industry, the stablecoin payment track indeed has potential. Major exchanges are all laying out payment ecosystems. Although Exodus’s move is somewhat late, with wallet infrastructure and Mo

【BlockBeats】Market reports a major development. Trump is about to interview current Federal Reserve Board member Waller to discuss the Fed Chair position. Previously, Trump met with former Fed Board member Kevin Waugh, and these two are currently his top candidates for the chairmanship.
Waller's background is worth noting—he is widely recognized in the economics community as the most suitable candidate to lead the Federal Reserve and is also a hot favorite on Wall Street. This year, Waller has become the most steadfast advocate for interest rate cuts within the Fed. During the July rate decision meeting, while other board members chose to keep rates unchanged, only Waller voted against, explicitly supporting a rate cut. His arguments for the necessity of rate cuts are logically rigorous and his stance firm, even partially adopted by the current Chair Powell, becoming an important driving force in shaping consensus within the Fed.
If Waller takes over as Fed Chair, it could mean a clearer shift in the Fed's policy direction. Internal disagreements within the Federal Reserve regarding policy direction are increasingly

After the Solana network experienced a 6 Tbps DDoS attack, the SOL price declined for three consecutive days, approaching the $126 support level. The open interest decreased by 3.6%, and the funding rate turned negative, indicating increased bearish momentum. If it breaks through $126, it may continue to decline to $107 or $100. Attention should be paid to the support level performance.

Since the beginning of 2025, Microsoft's stock price has increased by 12%, with a market capitalization surpassing $4 trillion, mainly thanks to edge AI and the Azure cloud platform. Analysts are generally optimistic about Microsoft's prospects, expecting the market cap to reach $5 trillion by 2026. 98% of analysts have given a "buy" rating, indicating the market position of AI-driven tech stocks.