金色财经报道，美国银行的利率策略师表示，美联储为维持银行体系现金充裕而购买国库券，有可能会抑制长期收益率。华尔街的策略师普遍预期，美联储的准备金管理购买（RMP）操作 —— 加上其10月决定动用资产负债表上的抵押贷款支持证券收益购买国库券 —— 将在未来一年内吸收大部分国库券净供应量。

BlockBeats News, December 12 — Hyperliquid officially announced that the upcoming network upgrade will introduce a Portfolio Margin feature, which has already been launched in pre-alpha mode on the testnet. Under the Portfolio Margin mode, the margin for users' spot and perpetual contract trading will be fully unified, significantly improving capital efficiency. Additionally, the Portfolio Margin account will automatically generate yields on all lendable assets that are not actively used for trading. All HIP-3 DEXes are included in the Portfolio Margin calculation, but not all collateral assets on HIP-3 DEXes are lendable. In the future

ChainCatcher reports that the Aave community has recently erupted into governance controversy, with the focus on whether the integration of CoW Swap has led to protocol revenue flowing to Aave Labs rather than the Aave DAO. A representative named “EzR3aL” posted on the governance forum stating that their on-chain analysis shows that transaction fees generated through the new CoW Swap interface no longer flow into the DAO treasury but are instead directed to an independent address, estimated to be worth about $200,000 per week. Marc Zeller, head of the Aave Chan Initiative, said the situation is “extremely concerning,” accusing it of “secret privatization of approximately 10% of the potential revenue of the Aave DAO.” The controversy has also extended to Aave Vaults, Horizon, and the Aave v4 liquidation engine.

The U.S. Supreme Court is about to rule on the legality of the comprehensive tariffs launched by Trump in April, which could impact the stock market. The S&P 500 index has already rebounded by 39%, hitting a record high. If the ruling declares the tariffs invalid, the earnings of component companies are expected to grow by 2.4% in 2026.

Foresight News reports that ZEROBASE has issued a security warning, stating that they received user reports about a phishing contract on BNB Chain (BSC) attempting to impersonate ZEROBASE and hijack user connections. The scam contract claims to be ZEROBASE's official interface and tricks users into granting USDT permissions. It has implemented a malicious approval detection mechanism. When users access ZEROBASE Staking, if the system detects that your wallet has interacted with this contract, deposits and withdrawals will be automatically blocked until the approval for the phishing contract is revoked. Users can also use

Foresight News report, Multicoin Capital Managing Partner Tushar Jain and Jito Governance Lead Nick Almond jointly released "The Solana Constitution" proposal at the Solana Breakpoint conference, aiming to address the current ambiguity in Solana governance. The core of the proposal introduces the "Staker Override," allowing stakers to overturn their delegated validators' voting decisions on specific proposals, thereby solving the agent problem in representative democracy and granting ultimate sovereignty to stakers. The proposal recommends a dual-track system: SGPs for systemic changes require full network voting, while technical specifications

China Asset Management Hong Kong will launch Asia's largest tokenized money market fund, supporting HKD, USD, and CNY denominations, offering on-chain stable returns, transparency, and real-time settlement. The plan is to expand from Hong Kong to a broader region.

Foresight News现场报道, Cryptocurrency financial services company Abra CEO Bill Barhydt announced at the Solana Breakpoint conference the launch of AbraFi, a synthetic asset tokenization platform based on Solana. AbraFi will be released to the public in the form of a DAO, not owned by Abra Inc. Governance token AFI holders will receive a majority of the protocol's revenue share and have governance rights over the product mechanism. The first product of AbraFi is a synthetic US dollar.

Predictive Oncology has been renamed Axe Compute, with stock code AGPU, focusing on the commercialization of Aethir's decentralized GPU network, providing enterprise-level computing power services, meeting various companies' GPU resource needs, and supporting multiple high-end computing hardware.

Odaily Planet Daily News: Chicago Federal Reserve President Goolsbee stated on Friday that he opposes the Federal Reserve's recent 25 basis point rate cut decision, believing that before further rate cuts are made, more data on inflation and the labor market should be awaited, especially given that businesses and consumers remain highly concerned about rising prices. Goolsbee is one of three officials who voted against the decision in the Fed's 9:3 vote this week. He advocates delaying the rate cut until early next year. He explained, “Given that inflation has been above the target for four and a half years in a row, progress has stalled in recent months, and nearly all the businesses and consumers we have contacted within our district regard prices as a primary concern, I believe a more cautious approach is to wait for more information.” He also stated that if future data show inflation is returning to the Fed's 2% target, he remains “optimistic that” rates could be “significantly lowered next year.” (Jin10)

BlockBeats News, December 12 – Cookie DAO issued a statement regarding the significant price drop after the TGE of the token on Cookie Launchpad. The performance of the token on the day of TGE and afterward is not determined by Cookie. The project team independently decides the fundraising amount, token economics, and liquidity arrangements. Cookie does not participate in the project's treasury, does not set the price, and does not control the market trend after opening. It merely acts as an InfoFi platform: providing tools for project operation, hosting InfoFi activities, and rewarding users who genuinely bring attention, content, and mental share to the project. The current market liquidity is extremely tight, with heavy sell-offs and unpredictable volatility. The community's claim that "Cookie earns a fortune while others suffer heavy losses" is completely false. Cookie does not turn a blind eye to this; it continues to

Odaily Planet Daily reported that the S&P 500 Index closed at a new all-time high again on Thursday. While this is not uncommon in 2025, it has been six weeks since the last record was broken. Ed Clissold, Chief US Strategist at Ned Davis Research, said, “Considering that US companies continue to deliver strong earnings reports, and the US economy has proven to be resilient, the current market sentiment is far from euphoric, which means there is still room for further gains by the end of the year and into early next year.” Noticing that investor enthusiasm is not only subdued at Ned Davis Research, even though the stock market is at an all-time high. Barclays’ “Stock Market Euphoria Indicator” has stabilized but remains well below its early October peak, indicating that the market still has “dry gunpowder” to drive potential year-end gains. (Jinshi)

BlockBeats 消息，12 月 12 日，去中心化衍生品协议 Synthetix 宣布将于 12 月 17 日回归以太坊主网。Synthetix 流动性提供商（SLP）将同期上线，SLP 访问权限将采用白名单制度，并计划尽快向所有用户开放。

Odaily Planet Daily News: The Federal Reserve signaled this week its openness to continue cutting interest rates in 2026, which was welcomed by investors. The market had previously prepared for the central bank to implement "hawkish rate cuts," i.e., lowering the benchmark federal funds rate, while also strongly indicating a reluctance to make further adjustments. The US stock market rose along with bonds, with the Dow Jones Industrial Average climbing nearly 650 points (1.3%) on Thursday, reaching a new all-time high. Despite internal disagreements within the Fed and the release of complex signals on Wednesday, many still see signs that even a slight further softening of the labor market could prompt the central bank to cut rates again in the coming months. The Fed announced it will expand its balance sheet by purchasing short-term government bonds, an initiative aimed at easing recent pressures in the overnight lending market, which also reassured investors. Investors expect that the Fed will be very different next year, and Trump has already begun to target this week.

Odaily Planet Daily News: RaveDAO announces the RAVE airdrop ratio and distribution mechanism for Genesis Membership Pass holders. According to the announcement on December 12, the airdrop exchange ratio is: 1 RAVE Point = 2 RAVE. This airdrop has three wallet submission windows, corresponding to different RAVE distribution times: Window One - Submission Time: December 10, 2025, 08:00

BlockBeats News, December 12 — The official Raise Network team announced at the Solana Breakpoint conference that the Raise Smart Cards project has chosen Solana as the infrastructure to build on-chain gift cards and loyalty ecosystems. The on-chain intelligent gift card system will support loyalty rewards for brands such as Uber and Fanatics, leveraging Solana's high-performance advantages.

Foresight News reports that, according to Bloomberg, Tether plans to raise up to $20 billion through a stock issuance and will consider tokenizing the shares after the sale is completed. Sources familiar with the matter revealed that Tether executives are considering various options, including share buybacks, and storing the company's stock in digital form on the blockchain through tokenization after the transaction. The sources also disclosed that at least one existing shareholder previously planned to sell shares at a price significantly below the company's $500 billion valuation, but Tether intervened to prevent this plan. The sources further revealed that Tether's management is concerned that a sell-off by current investors could impact its massive fundraising efforts. Due to the involvement of confidential information, these individuals requested anonymity. One insider stated that the company currently has no plans to allow existing shareholders to sell shares in this round of major financing.

BlockBeats News, December 12 — Builder Codes enables developers to build custom terminals, tools, and applications based on Grvt, while earning continuous revenue from the order flow. This allows Grvt to focus on the underlying matching and settlement system, while the ecosystem team can innovate simultaneously on the same technical platform. Based on ZKsync Atlas, Grvt offers developers a high-performance, low-cost unified liquidity environment. The first partners include professional terminals Tealstreet and institutional OEMS.

BlockBeats News, December 12 – Proph3t, co-founder of MetaDAO, a governance project in the Solana ecosystem, stated at the Solana Breakpoint conference that MetaDAO implements a true ownership mechanism on Solana through "ownership coins," primarily involving two components: Governance/Market Oversight Component: similar to a DAO but less extreme. Proposals are made 2 to 4 times a year, such as issuing new tokens for OTC investment rounds. Users do not vote but participate through trading. Legal Structure Component: to prevent project rug pulls.

BlockBeats News, December 12, According to Coinglass data, the funding rates for major CEX and DEX platforms indicate that the market has shifted from bearish to neutral. The specific funding rates for mainstream cryptocurrencies are shown in the attached chart. BlockBeats Note: Funding rates are rates set by cryptocurrency trading platforms to maintain the balance between contract prices and the underlying asset prices, typically applicable to perpetual contracts. It is a mechanism for exchanging funds between long and short traders, and the trading platform does not charge this fee. It is used to adjust the cost or profit for traders holding contracts, keeping the contract price close to the underlying asset price. When the funding rate is 0.01%, it indicates the baseline rate. When the funding rate exceeds 0.01%, it represents a generally bullish market. When the funding rate is below 0.005%, it indicates a generally bearish market.

ChainCatcher reports that, according to MLM monitoring, Jump Crypto has withdrawn approximately 160,000 HYPE tokens (about $4.65 million) from exchanges in the past 24 hours, bringing its total holdings to around 500,000 HYPE tokens (about $14.6 million). This level just reaches the threshold for the highest tier market maker fee discount (500,000 tokens / 40%) in the Hyperliquid ecosystem. This suggests that Jump is very likely to start market making officially on Hyperliquid soon.

This article summarizes cryptocurrency news as of December 12, 2025, including the latest updates on Bitcoin, Ethereum upgrades, Dogecoin trends, real-time cryptocurrency prices, and price forecasts. Major Web3 events today include: 1. The US SEC allows DTCC to custody and recognize tokenized stocks and other RWA assets on the blockchain 2. Hex Trust will issue and custody wXRP to expand its DeFi applications across multiple blockchains 3. The Solana ecosystem's MEV-based liquidity staking reward protocol Toby will launch a token

Odaily星球日报讯 Figure 上周已向美国证券交易委员会（SEC）提交第二次 IPO 申请，寻求获准在 Solana 区块链上原生发行公司股权。

Foresight News on-site report, Figure co-founder and CEO Mike Cagney stated at the Solana Breakpoint Conference that Figure has recently filed a new S-1 application, planning to issue blockchain-based common stock. Blockchain stocks will be a blockchain-native equity security and will be in Figure

BlockBeats News, December 12 — Cindy, co-founder of Solana ecosystem DeFi protocol Drift, stated at the Solana Breakpoint conference, "We will launch a mobile app in the first quarter of next year. This will be the first native application integrated with a multi-collateral account on mobile, and it will also include: Launch App"

BlockBeats News, December 12th, at the recently concluded Abu Dhabi BNB Hackathon, CZ and DragonVerse founder Natsuki engaged in a highly aligned and forward-looking in-depth discussion on the immense development potential of culture and IP on the blockchain. CZ expressed strong anticipation for this development direction on-site and stated, "Welcome IPs like Dragon Ball to BNB."

Hyperliquid Strategies announces the launch of a $30 million, 12-month stock repurchase program aimed at boosting the stock price of the company that recently went public and strengthening the value linkage between its stock and the HYPE token. The plan was announced after the company's official listing on NASDAQ, not only to support secondary market performance but also to further expand the company's staked and reserve holdings of HYPE tokens. The establishment of Hyperliquid Strategies stems from the merger of Sonnet BioTherapeutics and Rorschach, a SPAC company under the crypto venture fund Paradigm. The merger was originally scheduled to be completed in November but was finalized on December 2nd, leading to the company's stock beginning trading in early December. As an asset management firm focused on digital assets, Hyperliquid Strategies holds a large amount of HYPE tokens, and this buyback plan will further strengthen its capital position within the token ecosystem.

Zcash (ZEC) performed strongly in the December market, with the price soaring 13% in a single day to approximately $460, significantly outperforming the recent sideways-moving cryptocurrency market. Along with the price increase, Zcash's 24-hour trading volume expanded accordingly, and its market capitalization also showed a noticeable growth, indicating an accelerated influx of funds into privacy sector assets. The core driver of this rise is the anticipation of a network upgrade. Zcash developers and Shielded Labs announced a dynamic fee market proposal, planning to upgrade the current static fee structure to a more flexible dynamic mechanism. According to the announcement, the new system will automatically adjust fees based on network congestion to reduce transaction costs and improve confirmation efficiency during high activity periods. This upgrade is seen by the market as a key step to improve user experience and enhance scalability, thereby boosting investor confidence.

Gate News Bot Message, December 12th, according to CoinMarketCap data, as of press time, LUNA (Terra) is now trading at $0.18, down 24.30% in the past 24 hours, with a high of $0.25 and a low of $0.10. The 24-hour trading volume reached $453 million. The current market cap is approximately $125 million, down $40.26 million from yesterday. # Recent Important News on LUNA: 1️⃣ **Rwandan Court Sentencing Results Trigger Short-term Correction Pressure** Terraform Labs co-founder Rwandan was sentenced on December 11th at the Manhattan Federal Court, marking a new phase in the legal proceedings of the 2022 TerraUSD collapse. The incident once wiped out about $40 billion in market value and was one of the most significant crises in cryptocurrency history.

Cross-chain interoperability protocol deBridge announces the launch of a brand new execution primitive, deBridge Bundles, designed to fundamentally simplify on-chain interactions for users and developers, reducing multi-layer complexity during DeFi usage. This model allows users to sign only an "intention" that describes the final result, with the protocol automatically completing execution, eliminating the need to manually handle transactions, gas, or cross-chain steps. Traditional on-chain operations often require users to deal with slippage, gas estimation, transaction retries, and cross-chain asset management. deBridge states in its announcement that Bundles shift the execution logic from chain-level operations to a "result-oriented" model, removing cumbersome steps and making user operations closer to a one-click experience. Meanwhile, developers can focus on application-layer logic without having to build complex execution and retry frameworks themselves, significantly shortening development cycles and enhancing product stability.

x402 Payment Protocol officially released version 2 on December 11, 2025, further strengthening its core position in AI-native payments and autonomous machine trading. Since launching six months ago, x402 has completed over 100 million transactions through API, AI agents, and Web services. The V2 version incorporates key upgrades accumulated during this period. The most notable highlight of this update is the realization of a unified payment format for "multi-chain + traditional payment networks." The new protocol standardizes network and asset identification, enabling developers to seamlessly route payments between blockchains like Base, Solana, and traditional networks such as ACH and bank card networks. As a result, x402 is gradually becoming a neutral payment layer connecting crypto finance and traditional finance, simplifying cross-network settlement processes and providing more compatible payment infrastructure for AI agents, automation services, and Web applications.

PANews December 12 News, Pyth Network announced the launch of the PYTH Reserve Mechanism, which uses protocol revenue to purchase PYTH tokens monthly, directly linking product adoption with network value. As a key part of financial infrastructure, Pyth Network has supported over $2.3 trillion in cumulative trading volume. The new mechanism aims to promote sustainable value growth. The PYTH Reserve allocates one-third of funds from DAO treasury each month to buy PYTH tokens on the open market, combined with quarterly pricing optimization strategies to ensure revenue growth is directly converted into buying pressure for the token. Pyth's economic engine is powered by Pyth Pro, Pyth Core, Entropy, and Express

Bitcoin has recently been lacking upward momentum, with a clear bearish flag pattern appearing on the technical chart, triggering market concerns about the next target price level. Several traders believe that Bitcoin's short-term risks are rapidly accumulating, and if it breaks below a key support level, it could trigger a deeper correction, with a target price of USD, potentially extending down to the @E5@ USD region. Trader Roman emphasized in the latest analysis that Bitcoin faces an approximately 17% potential decline. He pointed out that since Bitcoin hit a low near USD, the price has failed to rebound effectively and has been oscillating within an upward channel. This kind of pattern is highly likely to develop into a bearish flag. Under this pattern, Bitcoin may continue to make lower lows after a brief rebound.

According to DefiLlama data, there are 73 projects that raised over $10 million in the past three months, with only Tempo being an L1 public chain. Venture capital mainly focuses on prediction markets, payment systems, and other areas. Among AI-related companies, only 2 meet the funding criteria.

BlockBeats News, December 12 — According to official data from Aster, in the "Aster Human-Machine Competition," the overall return rate for traders is currently 3.92%, while the AI camp's overall return rate is approximately -1.72%. On the total profit leaderboard, trader "Lao Ying" is leading significantly and currently ranks first, having achieved nearly 6 times the principal; the highest-ranking AI is Qwen3, which is 22nd on the total profit list. The specific performance of the top three addresses on the profit leaderboard is as follows: Lao Ying (X:thankUcrypto): 24-hour profit of about $9,550, with account funds of approximately $58,900; 0xJack (X:TraderLiu): 24-hour profit of about $2,910, with account funds of about $2.32

a16z's latest annual cryptocurrency forecast report indicates that by 2026, blockchain, artificial intelligence agents, and the global payment system will undergo profound transformations. The report focuses on three key trends: the rise of AI agents, the integration of payments into the underlying network, and the full advent of the privacy blockchain era. These changes will reshape the financial infrastructure of the internet. Firstly, a16z believes the most disruptive force will come from the explosive growth of autonomous AI agents. In future financial markets, the number of AI agents will far exceed human participants, but currently they still lack authentication, permissions, and compliance frameworks. a16z predicts that by 2026, the first "KYA (Know Your Agent)" standard will emerge, binding identities, responsibilities, and rules to agents, enabling them to conduct secure on-chain transactions and truly become market participants with programmable economic behaviors.

Gate News Bot Message, December 12th, according to CoinMarketCap data, TAO (Bittensor) is currently priced at $302.14, up 6.44% in the past 24 hours. The highest price reached $314.54, and the lowest dropped to $270.71. The 24-hour trading volume is $132 million. The current market capitalization is approximately $3.166 billion, an increase of $192 million compared to yesterday. # Recent Important News about TAO: 1️⃣ **Grayscale Bittensor Trust GTAO Launches on the Secondary Market, Opening a New Entry Point for Institutional Investors** Grayscale's Bittensor Trust has begun trading on the OTCQX secondary market operated by OTC Markets Group, with the stock ticker GTAO

PANews December 12th News, according to three sources, the Bank of Japan may maintain its commitment to continue raising interest rates next week, but will emphasize that the pace of further hikes will depend on how the economy responds to each increase. BOJ Governor Haruhiko Kuroda has essentially announced in advance that there will be a rate hike in December, and the market has almost fully priced in the possibility of raising rates from 0.5% to 0.75% in December. The market's focus has shifted to how much the BOJ can raise interest rates to a neutral level. Sources say that although the central bank may internally update its estimate of the policy rate relative to what is considered a neutral level, it will not use this estimate as the main communication tool for future rate hike paths due to the difficulty of making precise predictions. Instead, sources say the BOJ will explain that future rate hike decisions will be based on considerations of how past increases have affected bank lending, corporate financing conditions, and other economic activities. One source stated