According to Odaily Planet Daily, Upbit's operator, Dunamu, stated that the platform has frozen approximately 2.6 billion Korean won (about US$1.77 million) in damaged assets and is proceeding with the relevant processes to ensure their safe recovery. Upbit is currently using its self-developed On-Chain Automated Tracking System (OTS) to trace the path of the transferred funds to external wallets and is collaborating with several global cryptocurrency exchanges to prevent further fund flows.

Upbit stated that although the damaged assets of its customers have been fully compensated by the platform's own funds, it will continue to track and freeze related assets to prevent them from falling into the hands of attackers. It also called on global exchanges and the blockchain community to strengthen cooperation to improve industry security levels. After completing the replacement of virtual asset wallets and upgrading its security system, the platform resumed deposit and withdrawal services for all assets on the 6th. (FN News)

Odaily Planet Daily reports that Bittensor will undergo its first halving on December 14th, reducing the daily supply of TAO from 7200 to 3600. The official statement indicates this marks a key step for the AI network in adopting a fixed supply model similar to Bitcoin. (Cointelegraph)

1. The Canada Revenue Agency has launched a crypto tax investigation targeting Dapper Labs users;

2. Dubai Customs and Binance are collaborating to promote the application of crypto payments;

3. CICC: If Hassett becomes the Fed Chair, it may cause US Treasury yields and the dollar to fall first and then rise;

4. Coinbase restarts registration for Indian users and will launch fiat currency deposits next year;

5. 10x Research: Bitcoin appears to be maintaining range-bound trading, while the derivatives market has already anticipated significant volatility;

6. HumidiFi announced that it will launch a public sale of its new tokens on December 8th at 23:00;

7. The Hong Kong Investment Corporation appointed ten institutions as asset management companies for the "New Investment Immigration Scheme" 2025;

8. K33 Research: The market is more likely to rise sharply than fall again; December may present a good opportunity to build positions.

9. ZKsync announced that it will cease maintenance of the original ZKsync Lite version next year;

10. Glassnode: After Bitcoin stabilized, investor panic subsided, and funds began to flow into call options;

11. Trump plans to replace personal income tax with tariff revenue.

Odaily Planet Daily reports that Farcaster co-founder Dan Romero announced a major strategic shift, abandoning the "social-first" approach of the past four years to find product-market fit, and moving towards a wallet-centric growth model. The team stated that the rapidly growing in-app wallet functionality is currently the module closest to product-market fit, and will adopt a "first use the tool (wallet), then build the network (protocol)" approach, driving user conversion from wallet to active protocol users.

Romero emphasized that the Farcaster protocol remains open and decentralized, but the official application will focus on expanding its capabilities in the crossover areas of wallets and social networking. Furthermore, Farcaster previously acquired the token issuance platform Clanker to strengthen its product portfolio.

According to crypto analyst EmberCN, a whale went long on 1.38 million HYPE tokens at $38.6, with a position size of approximately $41.36 million. The current unrealized loss is approximately $12.01 million. The liquidation price for this long position was $23.7.

According to Odaily, Robinhood will acquire Indonesian brokerage Buana Capital Sekuritas and licensed digital asset trader Pedagang Aset Kripto to enter the Indonesian market. The company stated that this move marks its official entry into one of Southeast Asia's major crypto hubs. The transaction is expected to close in the first half of 2026, with the specific amount undisclosed.

Indonesia is one of the world's leading regions for crypto asset adoption, driven by regulatory support and a young user base. Currently, the local capital market has over 19 million investors, with approximately 17 million registered crypto traders. Patrick Chan, Head of Asia at Robinhood, stated that Indonesia's rapidly growing trading market aligns perfectly with the company's mission of "financial inclusion."

By acquiring licensed brokers and crypto dealers, Robinhood will be able to more easily meet local compliance requirements and accelerate its stock and digital asset-related business. Pieter Tanuri, the major shareholder of both Indonesian companies, will serve as a strategic advisor to Robinhood after the transaction is completed.

Robinhood revolutionized retail trading in the US with its zero-commission app model and was included in the S&P 500 index this year. The company also announced its entry into the prediction market this year. Its stock price has risen nearly 268% from the beginning of 2025 to December 4th. (CNBC)

Odaily Planet Daily reports that the dark pool DEX HumidiFi has announced that the public sale of its new tokens will officially begin at 23:00 Beijing time on December 8th.

Previous news: WET token sniper "Ramarxyz" snapped up 70% of the tokens in the HumidiFi presale.

According to Onchain Lens monitoring, Ethena withdrew another 25 million ENA tokens from Bybit today, worth approximately $7.05 million. Its current holdings have increased to approximately 779.9 million ENA tokens, worth approximately $207.7 million.

According to a report by 10x Research, Bitcoin prices have seen limited volatility recently, but pricing in the derivatives market has begun to reflect potential for significant price movements. The report points out several structural signals emerging in the market recently: volatility is being bought rather than sold, option skew has shifted back towards downside protection, funding rates have fallen, futures open interest is diverging, and ETFs are experiencing continued net outflows.

The report argues that although the market appears stable within a range, fund positioning and pricing structures indicate that the market is preparing for unexpected events. Bullish investors typically view the rebuilding of the US Treasury's general account, the end of quantitative tightening, and potential interest rate cuts as liquidity-boosting factors; however, without a consistent market structure, macroeconomic expectations are unlikely to drive a sustained trend.

10x Research points out that liquidity alone is not enough to create a directional market trend; it is also necessary to observe whether leverage levels, position structures, and trading flows are synchronized. This weekly report covers Bitcoin and Ethereum derivatives positions, volatility trends, funding rates, ETF and stablecoin flows, options activity, and potential ranges and key catalysts for the next 1 to 2 weeks.

Odaily reports that Coinbase has reopened registration for Indian users after the service was suspended for over two years. Indian users can now trade cryptocurrencies within the app. John O'Loghlen, Head of Asia Pacific at Coinbase, stated at India Blockchain Week that the company plans to launch fiat currency deposits in 2026, allowing users to directly deposit and purchase crypto assets.

Coinbase entered the Indian market in 2022, but suspended support for the Unified Payments Interface (UPI) just days after its launch because NPCI, the operator of UPI, did not confirm Coinbase's business in the region. The company subsequently ceased services for Indian users in 2023 and asked them to liquidate their accounts. O'Loghlen mentioned that the company chose to completely withdraw at the time to restart its business within a compliant framework.

This year, Coinbase communicated with the Financial Intelligence Unit (FIU) of India and completed registration. Starting in October, the app was relisted through "early access" and is now open to all users.

Despite being the world's second-largest internet market, India faces challenges in its crypto regulations and tax system. The Indian government levies a 30% tax on crypto income, prohibits loss deductions, and applies a 1% tax on each transaction. Coinbase has stated its hope for future policy relaxations.

Despite stringent regulations, Coinbase remains optimistic about the Indian market. Its investment arm recently increased its investment in local exchange CoinDCX (post-investment valuation of $2.45 billion) and plans to expand its team in India to over 500 people. O'Loghlen stated that Coinbase aims to become a trusted platform for users, providing a safe and convenient trading experience in the Indian market. (techcrunch)

According to a research report by CICC, as reported by Odaily Planet Daily, under the baseline scenario, if Hassett becomes the new Federal Reserve Chairman, it may cause US Treasury yields and the US dollar to fall first and then rise, which would be generally beneficial to US stocks.

From a timeline perspective, Trump will announce the nomination of a new chairman in early 2026. For Hassett, he needs to be nominated as a member of the Federal Reserve Board of Governors and confirmed by the Senate, then nominated as chairman and confirmed again. He will officially become chairman after the current chairman Powell's term expires in May 2026, and may begin to lead the FOMC meeting as early as June.

The first quarter of next year is a crucial period for influencing market expectations after the new chairman's nomination. If Hassett's statements are overly dovish, a temporary unexpected drop in US Treasury yields and the dollar cannot be ruled out. However, as long as it doesn't significantly escalate to the point of "loss of independence concerns," the realization of expectations coupled with the recovery of the US economy could lead to an upward trend in US Treasury yields and the dollar. (Jinshi)

Odaily Planet Daily reports that Dubai Customs and Binance have signed a cooperation agreement to introduce crypto asset payment capabilities into commercial and logistics transactions. The agreement was signed during Binance Week 2025 by Dr. Abdulla Busenad, Director General of Dubai Customs, and Stephanie Emile, General Manager of Binance FZE. Binance will assist in improving trade efficiency and accelerating investment flows through payment solutions including Binance Pay.

The agreement stipulates that digital assets will be integrated into local business and logistics systems to support innovative blockchain-based financial infrastructure, further reducing transaction times and costs. The collaboration will also help optimize import-export processes, improve customs clearance efficiency, and provide SMEs with more modern payment methods to expand their businesses and access global markets.

Dubai Customs had previously launched a blockchain platform in 2024 to accelerate customs clearance and commercial processing, and to enable trusted supply chain data sharing. In 2023, its blockchain-based intellectual property management system also received an intellectual property certificate from the UAE Ministry of Economy.

Sultan Ahmed bin Sulayem, Chairman of DP World Group, stated that through such collaborations, Dubai is building an advanced economic model that meets the demands of the digital economy, further enhancing its status as a trade and logistics hub. Busenad pointed out that the partnership will accelerate customs digitization, making processes smarter and opening a new chapter for the integration of crypto payments.

Binance CEO Richard Teng stated that the two companies will jointly launch innovative solutions to make a real impact in the customs sector and further promote the development of Dubai's digital ecosystem and related infrastructure. (cryptopolitan)

According to Onchain Lens monitoring, Bitcoin OG deposited an additional 60 million USDC into HyperLiquid, bringing its total deposits to $70 million. OG also further increased its Ethereum long position with 5x leverage. The current position is approximately 54,277.33 ETH, valued at approximately $165 million, with an opening price of $3048.31 and a liquidation price of $1795.26.

In addition, the address still has pending orders, indicating a plan to increase the long position when the price of Ethereum reaches $3,000.

According to Odaily, the Canada Revenue Agency (CRA) is launching its second-ever search for cryptocurrency tax information on Dapper Labs users. Court documents show that the CRA has obtained data on 2,500 users through a court order. The original plan was to obtain information on the first 18,000 users, but this was ultimately reduced after consultation with Dapper's management and lawyers.

Over the past three years, the CRA has collected over $100 million in taxes through crypto-related audits, but has not filed any criminal charges since 2020. The CRA's 35-person crypto audit team has handled over 230 cases, estimating that approximately 40% of taxpayers using crypto platforms have unreported or high-risk non-compliance records. However, the CRA's top crypto auditor acknowledged in an affidavit that the agency "has been unable to reliably identify crypto asset users and assess their tax compliance."

This action marks the second time a Canadian court has issued a similar order to a crypto company, following a 2020 court order requiring Toronto-based exchange Coinsquare to provide user information. Dapper Labs has not yet responded to The Block's request for comment.

Despite progress in tax collection, the CRA faces significant challenges in enforcement. Since 2020, the CRA has initiated five criminal investigations involving digital assets, four of which are ongoing but have not yet resulted in charges, citing reasons such as the complexity of cross-border activities, limited evidence, and reliance on international cooperation. The agency states that such investigations typically take years.

Meanwhile, Canada is pushing forward with stablecoin legislation and plans to launch a new agency specifically to combat financial crime by spring 2026. Another regulatory body, FINTRAC, has been more active recently, issuing multiple anti-money laundering and sanctions fines to Cryptomous, KuCoin, and Binance for violations. (The Block)

Odaily Planet Daily reports that the ZKsync team has announced plans to discontinue its earliest zero-knowledge scaling network, ZKsync Lite, next year. The official statement indicates that this discontinuation is a "planned and gradual exit" and will not affect other ZKsync systems. A detailed timeline and migration guidelines will be released later.

ZKsync Lite (formerly known as ZKsync 1.0) was launched in June 2020, primarily targeting Ethereum payment scenarios. It supports token transfers, atomic swaps, and NFT minting, but does not have smart contract functionality. The official statement claims that as an early zero-knowledge technology verification platform, it has "fulfilled its mission," laying a crucial foundation for the subsequent ZK system.

L2BEAT data shows that approximately $50 million in assets remain on ZKsync Lite, with the network processing fewer than 200 transactions per day. The official statement emphasizes that fund security is unaffected, and withdrawals to the Ethereum mainnet can still be processed normally during this period.

Matter Labs, the parent company of ZKsync, shifted its R&D focus to ZKsync Era in March 2023. This version is a complete zkEVM, compatible with smart contract development. At the time, The Block called it the "holy grail of Ethereum scaling."

The official statement indicates that this shutdown does not affect other products such as ZK Stack and Prividiums. Recently, ZKsync ended its Ignite liquidity incentive program due to market downturn, and Aave DAO is also considering decommissioning its deployment on ZKsync Era. (The Block)