Important news from last night and this morning (December 28-29)

Trust Wallet: 2,596 wallet addresses have been confirmed to be affected; further updates will be released within the next day.

Trust Wallet CEO Eowync.eth posted an update on the browser extension v2.68 security incident on the X platform, stating that the team has confirmed 2,596 affected wallet addresses and has received approximately 5,000 compensation claims, including numerous duplicate or invalid submissions attempting to fraudulently claim victim compensation. Accurately verifying wallet ownership is currently the core focus of the work, and the team is using multiple data cross-validation methods to distinguish between genuine victims and malicious submitters. This verification work is proceeding concurrently with the forensic investigation, and some cases have reached relatively clear conclusions, but the overall process is still ongoing. The team will prioritize accuracy over speed, ensuring the safe return of funds to the correct users, and will release further progress information as soon as possible, with an update expected within the next day.

Lu Lei: The future digital yuan will have the attributes of commercial bank liabilities, possessing the functions of a monetary unit of account, store of value, and cross-border payment.

According to the China Financial Times, Lu Lei, Vice Governor of the People's Bank of China, stated that the future digital yuan will be a modern digital payment and circulation means issued and circulated within the financial system, with technical support and supervision provided by the central bank, possessing the attributes of commercial bank liabilities, based on accounts, and compatible with distributed ledger technology. It will have the functions of a measure of monetary value, a store of value, and cross-border payment. Looking ahead, the choice of business and technological models for the digital yuan will adhere to the fundamental principle of meeting the needs of the real economy, adopting a principle of inclusiveness and prudent selection regarding the development of account-based and value-based digital currencies, and promoting the digital yuan to meet the needs of different scenarios and different business entities. Previous reports indicated that the central bank will issue an "Action Plan on Further Strengthening the Management and Service System and Related Financial Infrastructure Construction of the Digital Yuan."

Flow: We are coordinating with critical infrastructure partners to determine the final restart plan.

In response to deBridge co-founder Alex Smirno's disclosure that the Flow team's decision to roll back the blockchain without communicating with key bridging partners posed a significant risk, Flow posted on the X platform that it is currently coordinating with critical infrastructure partners to determine the final restart plan. The remediation plan has been distributed to ecosystem partners (including bridging operators, exchanges, and validators) and is currently under evaluation. The coordination work is expected to be completed within the next 2-3 hours. Flow also reiterated that user funds are safe and unaffected.

Solana DEX spot trading volume has exceeded $1.7 trillion so far this year, surpassing Bybit to become the second largest.

According to Artemis data, Solana DEX spot trading volume has surged to over $1.7 trillion so far this year, surpassing Bybit to become second only to Binance.

The People's Bank of China will release an "Action Plan on Further Strengthening the Management and Service System and Related Financial Infrastructure Construction of the Digital RMB".

According to the Financial Times of China, Lu Lei, Vice Governor of the People's Bank of China, announced that the People's Bank of China will issue the "Action Plan on Further Strengthening the Management and Service System and Related Financial Infrastructure Construction of Digital RMB". The new generation of digital RMB measurement framework, management system, operation mechanism and ecosystem will be officially launched on January 1, 2026.

A whale withdrew 2,218 ETH, 37.1 million SKY, and 4,772 AAVE from Kraken 7 hours ago.

According to Onchain Lens monitoring, a whale withdrew 2,218 ETH (worth $6.52 million), 37.1 million SKY (worth $2.36 million), and 4,772 AAVE (worth $730,360) from Kraken 7 hours ago. This wallet received 519 ETH (worth $1.62 million) from Wintermute 19 days ago. Currently, the wallet holds a total of 2,738 ETH (total value $8.07 million).

Huang Licheng reduced his long position in ETH by 50 units and added a long position in HYPE by 5,000 units.

According to Hyperbot data, Huang Licheng just reduced his long position in ETH by 50 tokens, incurring a loss of $591, and added a long position in HYPE by 5,000 tokens. Currently, his long positions in ETH are 8,150 tokens (approximately $24.21 million), and his long positions in HYPE are 18,888.88 tokens (approximately $487,100). His total unrealized loss is currently $46,000.

Report: The crypto market appears calm on the surface but is actually turbulent beneath; Bitcoin, though in a downward trend, may turn bullish in January.

According to 10x Research's weekly market report, the crypto market entered the new year with cyclically low activity, but derivatives positioning quietly sent distinctly different signals. Volatility is narrowing, funding rates are gradually rising, and leverage remains high, even as trading volume and participation continue to decline. ETF flows, stablecoin trading activity, and futures positions are no longer aligned, resulting in a seemingly calm market with underlying undercurrents. The options market is undergoing a correction, which typically foreshadows a shift in market structure rather than a continuation of a trend. Meanwhile, technical indicators are approaching critical points, and any minor fluctuation could trigger a larger-scale asset allocation adjustment. Cryptocurrency trading volume is down 30% from usual. Funding rates have risen slightly as orderly liquidation of futures contracts continues. Bitcoin's downtrend continues but may turn bullish in January. Bitcoin's Relative Strength Index (RSI) is at 43%, indicating a bullish signal, while the Stochastic Oscillator is at 30%, indicating a bearish signal. Bitcoin is 4.5% away from triggering a trend change, and the current trend is bearish. The key short-term bullish/bearish price level is $88,421, with the major bullish/bearish level at $98,759. Ethereum may also see a bullish trend change in January. Ethereum's RSI is at 44%, indicating a bullish signal, while the Stochastic Oscillator is at 23%, indicating a bearish signal. Ethereum is 5% away from triggering a trend change, and the current trend is bearish. The key price level for the short-term bullish/bearish view is $2,991, with the major bullish/bearish price level at $3,363. The realized volatility of Bitcoin and Ethereum has begun to decline significantly: Bitcoin's 30-day realized volatility is 38.2%, down 7% from its 30-day average of 45%. Ethereum's 30-day realized volatility is 61.2%, 5 percentage points lower than its 30-day average of 66.6%.

A whale that had established a long position in ETH through revolving loans sold another 10,002 ETH.

According to Onchain Lens monitoring, the whale "0xa339" established a long position in ETH through revolving lending and has sold another 10,002 ETH, receiving 29.38 million USDC. To date, this whale has sold a total of 50,623 ETH at an average price of $2,921, receiving $147.88 million in USDC/USDT, realizing a total profit of over $15 million.

Spot silver breaks through $80/ounce, setting a new record.

According to Jinshi News, spot silver continued its surge in early trading on Monday, breaking through the $80/ounce mark for the first time, with its year-to-date gain widening to $51.

Hyperliquid co-founder: 1.2 million HYPE tokens will be distributed to team members on January 6th after unlocking.

Hyperliquid co-founder iliensinc posted on Discord that 1.2 million HYPE tokens will be unlocked today (tomorrow Beijing time) and then distributed to team members on January 6. Subsequent token unlocks will be carried out on the 6th of each month.

Year-end focus on Fed policy and sector rotation; US stocks surge to record highs.

According to Jinshi News, US stocks are currently at historical highs, with the S&P 500 index only about 1% away from breaking the 7,000-point mark for the first time, and poised for its eighth consecutive month of gains, which would be the longest monthly winning streak since 2017-2018. "Momentum is clearly on the bulls' side," said Paul Nolte, senior wealth advisor at Murphy & Sylvest Wealth Management. "Unless there are unforeseen external events, I believe the path of least resistance for the stock market remains upward." The Federal Reserve meeting minutes will be the focus of market attention next week, with investors closely watching when the Fed might further cut interest rates. Investors are also awaiting Trump's nomination of a new Fed chairman to replace Powell, and any hints from Trump could influence market movements next week. The S&P 500 has risen nearly 18% this year, while the Nasdaq has risen 22%. However, the technology sector, a major driver of this bull market, has recently struggled, while other sectors of the market have performed strongly. Anthony Sagrimbene, chief market strategist at Ameriprise Financial, said these market movements indicate that funds are rotating into sectors with more moderate valuations.

Data: El Salvador has accumulated 1,511 BTC so far in 2025.

According to data disclosed by Cointelegraph, El Salvador has accumulated 1,511 BTC since January 1, 2025.

Article published in an academic journal under the supervision of the Supreme People's Court: Commercial Law Reform for Digital Transactions, Electronic Currency, and Virtual Property

The Supreme People's Court's official WeChat account published an article in its affiliated academic journal, *Digital Rule of Law*, entitled "Commercial Law Reform Towards Digital Transactions, Electronic Currency, and Virtual Property." The article points out that the amendments to the Uniform Commercial Code, jointly revised by the Uniform Law Commission and the American Law Institute, were formally passed in 2022 and subsequently widely adopted by state legislatures across the United States. These amendments embrace diverse transaction methods, including electronic forms, clarify the relationship between tangible money, central bank digital currencies, and other virtual currencies, create a new type of property called "controllable electronic records," and define the rules for the control and transfer of such property. China's civil and commercial regulations should also adapt to the development of digital transactions, electronic currency, and virtual property, undergoing practice-oriented legal improvements to incentivize economic and technological development and gain an advantage in international institutional competition.

Michael Saylor has released another Bitcoin Tracker update; he may disclose his accumulating data next week.

Strategy founder Michael Saylor posted Bitcoin Tracker information again on the X platform, and may disclose data on his increased holdings next week.

WLFI: Governance voting to accelerate USD1 adoption using a portion of treasury funds has begun.

WLFI, the Trump family's crypto project, announced on the X platform that a new proposal governance vote has officially begun. The proposal will authorize the use of a portion of the unlocked WLFI treasury funds to accelerate the adoption of USD1 through targeted incentives.

Analysts predict that although Bitcoin may reach a new high in 2025, its annual closing price will be lower, essentially indicating a "hidden bear market."

Crypto analyst Plan C wrote on the X platform that although Bitcoin hit an all-time high in USD terms in 2025, it was actually in a downtrend by the end of the year. Furthermore, Bitcoin's price traded sideways around $100,000 for most of the year, significantly underperforming assets like silver, gold, and the S&P 500. Therefore, even though most people would consider 2025 a bull market according to the classic definition, it should essentially be considered a "hidden bear market."

Opinion: Flow's decision to roll back its blockchain without consulting its main bridging partners carries significant risks.

Alex Smirnov, co-founder of deBridge, posted on the X platform that the Flow team has decided to roll back the blockchain and claims to be in a mandatory synchronization window with key ecosystem partners (bridges, centralized exchanges, and decentralized exchanges). As one of Flow's main bridging providers, deBridge has not received any communication or coordination from the Flow team, potentially posing a significant risk. Smirnov stated that the economic losses from a hasty rollback could far exceed the impact of the original attack, and the rollback will introduce systemic issues affecting bridges, custodians, users, and counterparties who acted honestly during the affected window. Smirnov urged all Flow validators to stop validating transactions on the rollback chain until a clear compensation plan, coordination with ecosystem partners, and intervention from the security team are in place. Currently, RPC responses indicate that the Flow state has been rolled back, but no new transactions have been accepted.

Data shows that tokens such as HYPE, SUI, and EIGEN will undergo significant unlocking, with HYPE unlocking value estimated at approximately $256 million.

According to Token Unlocks data, tokens such as HYPE, SUI, and EIGEN will see large-scale unlocks next week. Specifically: Hyperliquid (HYPE) will unlock approximately 9.92 million tokens at 3:30 PM Beijing time on December 29th, representing about 2.87% of its circulating supply, worth approximately $256 million; Sui (SUI) will unlock approximately 43.69 million tokens at 8:00 AM Beijing time on January 1st, representing about 1.17% of its circulating supply, worth approximately $63.4 million; EigenCloud (formerly EigenLayer, EIGEN) will unlock approximately 36.82 million tokens at 12:00 PM Beijing time on January 1st, representing about 9.74% of its circulating supply, worth approximately $14.4 million; and Kamino (KMNO) will unlock approximately 229 million tokens at 8:00 PM Beijing time on December 30th, representing about 5.35% of its circulating supply, worth approximately $11.8 million. Optimism (OP) will unlock approximately 31.34 million tokens at 8:00 AM Beijing time on December 31st, representing approximately 1.65% of the circulating supply, worth approximately $8.6 million; Ethena (ENA) will unlock approximately 40.63 million tokens at 3:00 PM Beijing time on January 2nd, representing approximately 0.56% of the circulating supply, worth approximately $8.6 million; Slash Vision Labs (SVL) will unlock approximately 234 million tokens at 8:00 AM Beijing time on December 30th, representing approximately 2.96% of the circulating supply, worth approximately $6.8 million; Zora (ZORA) will unlock approximately 166 million tokens at 8:00 AM Beijing time on December 30th, representing approximately 4.17% of the circulating supply, worth approximately $6.7 million.

Bubblemaps: Memecoin project ATLAS suspected of insider trading; 68 wallets already hold 47% of the token supply.

On-chain transaction analytics platform Bubblemaps published an article on its X platform stating that ATLAS, a Meme coin project inspired by US Vice President JD Vance's pet dog, has received promotion from some KOLs on social media. However, monitoring revealed that 68 wallets with no on-chain activity received funds through ChangeNow and snapped up ATLAS tokens before the project's launch. These wallets now hold 47% of the token supply, worth $1 million, suggesting insider trading.

Analysis: Gold and silver hit new all-time highs; investment advisors urge investors to "shift from Bitcoin to gold".

According to Yahoo Finance, gold and silver broke historical records again this week, demonstrating the strong performance of precious metals. However, this is like adding insult to injury for cryptocurrency investors. Bitcoin, once considered "digital gold," has fallen 6.25% this year after hitting a record price, while Ethereum has also fallen 12%. Overall sentiment in the cryptocurrency market is very low, even dragging down the stock prices of publicly traded crypto asset management companies. Louis Navellier, founder of investment advisory firm Navellier & Associates, pointed out that given gold prices are expected to rise by nearly 70% by 2025, while most cryptocurrencies continue to decline, it's time for cryptocurrency investors to turn to gold. He emphasized gold's advantages, including central bank purchases, lower volatility, and improved liquidity. Meanwhile, renowned investor Peter Schiff posted on the X platform that if Bitcoin doesn't rise when tech stocks rise, and doesn't rise when gold and silver rise, then it may never rise.

Mirae Asset Group is in talks to acquire South Korean cryptocurrency exchange Korbit for $100 million.

According to Cointelegraph, Mirae Asset Group is in talks to acquire Korbit, South Korea's fourth-largest cryptocurrency exchange, in a deal valued at approximately 100 billion to 140 billion won, or about $70 million to $100 million. The potential acquisition is reportedly being led by Mirae Asset Consulting, a non-financial subsidiary of Mirae Asset Group, which has already signed a memorandum of understanding with Korbit's major shareholders.

DeBot has initiated a compensation registration process and expects to complete verification and provide full reimbursement within 72 hours.

DeBot stated on its X platform that users affected by wallet theft can log in to the DeBot official website (PC or mobile web version) to fill out the registration form, which is valid indefinitely. DeBot will complete the verification within 72 hours of submission and will provide 100% full compensation to confirmed affected users, with compensation funds directly deposited into their DeBot secure wallet address.

The Coinbase Bitcoin Premium Index has been in negative territory for two consecutive weeks, currently at -0.0784%.

According to the latest data from Coinglass, the Coinbase Bitcoin Premium Index has been in negative territory for two consecutive weeks (14 days), currently at -0.0784%. This index measures the difference between the price of Bitcoin on Coinbase (a major US trading platform) and the average price in the global market. A negative premium usually reflects significant selling pressure in the US market, a decline in investor risk appetite, increased market risk aversion, or capital outflow.

A newly created wallet withdrew 203,060 LINK tokens from Binance, worth $2.52 million.

According to Arkham monitoring data, a newly created wallet just withdrew 203,060 LINK from Binance, worth $2.52 million. On-chain data shows that several whales are suspected of hoarding LINK recently. For example, whale "0x2a42" withdrew 234,979 LINK from Binance, worth approximately $2.9 million; another whale "0xEC7B" also withdrew a total of 469,437 LINK from Binance, worth $5.77 million.

Analysts: Bitcoin's recent rebound may be driven by leverage, and capital outflows could lead to further price declines.

On-chain analyst Ali (@alicharts) pointed out in an article published on the X platform that the Bitcoin market has recently shown a "dead cat bounce" state. According to on-chain data, the funds flowing into the cryptocurrency market have continued to decline. Bitcoin ETFs have seen a net outflow of nearly $1 billion in the past two weeks. Any rebound seen in the market at present may be driven by leverage rather than supported by spot demand, so the risk of further price declines still exists.

The Science and Technology Department of the People's Bank of China: Actively, steadily, safely and orderly promote the application of artificial intelligence in finance.

According to 21st Century Business Herald, Li Wei, Director of the Science and Technology Department of the People's Bank of China, stated at the China Wealth Management 50 Forum 2025 Annual Meeting that artificial intelligence (AI) has become an important engine for promoting high-quality development across various industries, and its role in empowering the digital transformation of finance is becoming increasingly prominent. Looking ahead to the 15th Five-Year Plan period, the application of AI in the financial sector should be actively, steadily, safely, and orderly promoted. The 15th Five-Year Plan proposal puts forward the comprehensive implementation of the "AI+" action plan to seize the commanding heights of AI industrial applications. The Central Economic Work Conference further clarified the need to deepen and expand "AI+" and improve AI governance.

Lighter founder responds to large LIT token transfer: unrelated to airdrop; app expected to launch in the coming weeks.

Decentralized order book exchange Lighter is expected to undergo another upgrade in 12 hours, with announcements regarding its token TGE likely to follow soon. In response to community reports of multiple large transfers of LIT tokens by the Lighter team, founder and CEO Vladimir Novakovski confirmed in a Twitter Space interview that these were unrelated to airdrops but rather for safeguarding funds allocated to investors and the team. He also revealed that a universal margin system will allow L1 assets to be used as collateral on Lighter, and a mobile app will be launched in the coming weeks.

A whale withdrew 3,997 ETH (approximately $11.76 million) from OKX half an hour ago.

According to on-chain analyst Ai Yi, a whale betting on ETH has accumulated 38,415.18 ETH since December 5th, worth a staggering $119 million. Just three days later, half an hour ago, he withdrew another 3,997 ETH from OKX, worth approximately $11.76 million. The average cost of these 38,400 ETH is approximately $3,111.38, resulting in a floating loss of $6.576 million. Furthermore, 15 minutes ago, he deposited 15.3 million USDT into the exchange, address 0xce9...57c69, which currently has 41,523.24 ETH staked and 69.82 million USDT borrowed.

Paul Chan: This year will be the best performing year for the Hang Seng Index since 2017, with net inflows of funds exceeding US$41 billion.

Hong Kong Financial Secretary Paul Chan published a personal essay titled "Striding Towards the New Year," in which he mentioned that in terms of asset markets, Hong Kong stocks are projected to rise for the second consecutive year in 2025. As of last week, the Hang Seng Index closed at 25,818 points, up approximately 29% from the end of last year, making it the best-performing year since 2017 in terms of gains. Regarding asset and wealth management, in the first nine months of this year, net inflows into SFC-approved funds registered in Hong Kong exceeded US$41 billion, more than 1.5 times the figure for the entire year of last year. Furthermore, Hong Kong will accelerate the development of artificial intelligence as a core industry, enriching the diversity of Hong Kong's financial market, including accelerating the development of fixed income and money markets, green finance, fintech, and actively exploring new opportunities such as commodity trading and international gold trading.

Star: DEX bot products must meet exchange-level security standards; otherwise, the risk is extremely high.

OKX founder and CEO Star responded to the DeBot security incident in a post on the OKX platform. He stated, "Wallet theft can be caused by several common scenarios. One is the risk of centralized private keys in DEX Bot products, where these products upload user private keys to servers and store them in plaintext or decryptable form. Once hacked, the risk level is essentially equivalent to that of an exchange. Therefore, the security standards of these products must reach exchange levels; otherwise, the risk is extremely high. Another risk is code vulnerabilities or malicious intent in self-custodial wallets, such as compromised user devices or data leaks, and the structural dependence of automated strategies on private key custody." Star added that the correct direction for wallet security evolution is that private key security and ease of use are not mutually exclusive.

Analysts warn that prices of precious metals such as silver are on the verge of a precipice.

According to Jinshi News, as prices of precious metals such as silver continue to soar, some analysts warn that precious metal prices are on the "edge of a cliff," and the risk of a correction is accumulating. Capital Economics analysts wrote in a report, "Precious metal prices have risen to levels we believe are difficult to explain with fundamentals." They predict that as the frenzy for gold subsides, silver prices may fall back to around $42 by the end of next year. UBS warned that the current rapid rise in precious metal prices is largely due to insufficient market liquidity—meaning a rapid pullback is very likely. UBS emphasized that short-term risks in precious metal trading have increased significantly, and given that gold prices have reached new highs, the risk of short-term investors taking profits is also substantial. Thin liquidity at the end of the year "may exacerbate price volatility," making short-term trends more difficult to interpret. Wang Yanqing, chief precious metals analyst at CITIC Securities Futures, said that from a fundamental perspective, there have been no significant changes in the factors affecting precious metals and non-ferrous metals in the short term. Although there are long-term positive factors such as "de-dollarization" in the market, the short-term and rapid rise has obviously over-traded the long-term positive factors, and the high level of speculative sentiment has brought potential risks to the stable operation of the market.

A whale (a cryptocurrency investor) allegedly sold off approximately 27.2 million ARC tokens that it had accumulated a month prior, potentially triggering a drop in the price of the coin.

According to Arkham monitoring data, about five hours ago, a whale sold off all of its holdings of approximately 27.2 million AR tokens, worth about $1.2 million. The exit transaction was executed near its break-even point. However, the price of ARC subsequently fell briefly and even dropped below $0.04. It has since recovered slightly to $0.04185, a 24-hour drop of 10.2%.