David Sacks, the U.S. Special Envoy for Artificial Intelligence and Crypto Assets, responded to The New York Times' allegations on the X platform, stating that its report fabricated facts, was empty in content, and lacked substance, and has therefore hired a lawyer to handle the matter.

According to Mars Finance, market news indicates that South Korean lawmakers plan to fully pass the "Basic Digital Asset Act" by January 2026. The bill will establish a "Korean-style stablecoin" with an alliance structure, where banks hold at least 51% of the equity, and tech companies can participate as minority shareholders. Democratic Party representative Kang Jun-hyeon has set the deadline for submitting the government proposal to December 10. The lawmaker warned that if the finance department fails to complete the proposal on time, the lawmakers will propose an independent version.

According to Mars Finance news, in response to Arthur Hayes' doubts about the operation of USDT, former head of crypto research at Citibank, Joseph, stated on the X platform that @CryptoHayes' analysis missed several key points: 1. Disclosure of assets ≠ total corporate assets USDT discloses reserves according to the "matching principle", but its undisclosed balance sheet includes equity investment income, mining business, corporate reserves, and potential Bitcoin holdings, with remaining profits distributed to shareholders in the form of dividends. 2. Ultra-high profit margins and equity value Tether holds $120 billion in US Treasury bonds (annualized 4% yield), with an annual net profit of about $10 billion starting from 2023 (with only 150 employees), making it the world's most efficient money printer; equity valuation could reach $50-100 billion (close to...

According to Mars Finance, on December 1, Bank of Japan Governor Kazuo Ueda released the clearest hawkish signal to date, with the market raising the probability of a rate hike in December by the Bank of Japan to 64%. The yen strengthened, and short-term Japanese government bond yields hit a new high since 2008. Influenced by expectations of Japan's policy normalization being advanced, global capital flows are being repriced, putting pressure on the dollar and high volatility assets simultaneously. Meanwhile, the sudden diplomatic friction between the United States and Venezuela escalated, further cooling risk appetite rapidly. Against the backdrop of rising macro risk aversion, the crypto market experienced severe fluctuations. BTC fell sharply in today's Asian session, accompanied by rapid accumulation of liquidation volume. According to the liquidation map, a high-density liquidation zone formed around $92,300, becoming the main axis of this decline; after the price broke through this area, the downward trend accelerated, consecutively hitting $88,300, $86,200, and other subsequent liquidity stacks.

According to Mars Finance reports and monitoring by Lookonchain, a trader (Address: 0xa96b) spent 5.37 million USDT to purchase 422,064 LINK Tokens at a price of 12.72 USD 7 hours ago. Since October 10, this trader has completed 6 LINK swing trades with a win rate of 67%, but has still incurred an overall loss of 1.24 million USD.

Argentina has become the country with the highest adoption rate of stablecoins in the world, with Crypto transforming into a daily payment infrastructure, and nearly all merchants in major cities supporting payments with USDC. There are numerous OTC exchange shops on the streets, becoming the most profitable segment in the crypto ecosystem. Argentina is also an important force in Web3 development, as locals view Crypto as a vital tool for wealth protection due to economic instability.

According to Mars Finance, data from SoSoValue shows that the US Spot Bitcoin ETF recorded a net outflow of $3.5 billion in November, marking the largest monthly negative flow record since the beginning of this year. Since October 31, the Bitcoin ETF has seen net outflows for four consecutive weeks, totaling $4.34 billion. However, in the last three days of November, just before Thanksgiving in the US, it shifted to net inflows. Among them, BlackRock's IBIT, the largest Bitcoin ETF by net asset size, saw an outflow of $2.34 billion in November and recorded its largest single-day outflow since its inception on November 18, reaching $523 million. LVRG director Nick Ruck stated that this outflow mainly reflects institutions taking profits after Bitcoin reached an all-time high and adjusting their portfolios at the end of the year, rather than a loss of confidence.

According to reports from Jin10, Mars Finance news states that interest rate strategists at Société Générale have indicated in a report that upcoming economic data will continue to show the resilience of the U.S. economy, persistent inflation, and a slight deterioration in the labor market conditions. Nevertheless, they expect the Fed to cut rates after the December meeting, with an additional two rate cuts expected next year, anticipating that by the end of 2026, the two-year Treasury yield will stabilize and decline to 3.2%, while the ten-year Treasury yield will drop to 3.75%.

According to Mars Finance news on December 1, the Australian Monochrome Spot Bitcoin ETF (IBTC) disclosed that as of November 28, the open interest had reached 1161 Bitcoins, and the Holdings market capitalization had exceeded 162 million Australian dollars.

According to Mars Finance, Bitcoin has maintained stability after a slight rebound, with the current recovery leaning more towards improved risk sentiment rather than internal drivers within the encryption zone. The stock market has seen a slight rise, with the market expecting an approximately 85% probability of a rate cut in December. However, high inflation and weak employment data still weigh on the market, and Fed officials have expressed slightly dovish tones, but with limited impact. This week's macro focus will shift to unemployment claims and ADP employment data. Meanwhile, the credit spreads and CDS related to AI continue to rise, indicating that funds are reassessing the strongest trading logic from the past year. The liquidity remains weak, with continuous outflows from crypto ETFs and net liquidation of asset products, with several net values dropping below 1 dollar per unit, and risk-averse sentiment significantly increasing. Strategy has once again taken the spotlight due to Bitcoin reserves approaching breakeven and stock prices being included in the MSCI delisting observation list, which may become a key variable in the market before the end of the year. Currently, BT

According to Mars Finance, data from Arkham shows that at 14:23, 4644.88 ETH (worth approximately 13.13 million USD) was transferred from Wintermute to BitGo.

According to Mars Finance, the official news from USDD 2.0 states that the current Circulating Supply of USDD has officially surpassed 600 million USD, setting a new historical record. This not only means a further expansion of the market scale but also signifies the continuous increase in the recognition, trust, and usage of USDD in the stablecoin field, significantly enhancing its ecological influence.
USDD, as a transparent, secure, and truly decentralized stablecoin, has recently received recognition from the leading international security auditing firm ChainSecurity. Their audit of USDD 2.0 pointed out that USDD possesses a robust on-chain monetary system and a comprehensive security framework, maintaining consistent transparency and security in a multi-chain environment, providing a reliable digital asset experience for global users.

Matrixport analysis indicates that Bitcoin faces resistance at $92,000, and market sentiment is weak. Despite expectations of a Fed rate cut, capital inflows remain limited. Additionally, Japan's tightening monetary policy raises concerns, challenging the consistency of global Central Bank easing, prompting institutional investors to drop Bitcoin investments.

According to Mars Finance, crypto analyst Willy Woo released a comparison chart of bank runs, showing that Tether (USDT) fully honored redemptions even during a redemption wave of about 20–25%, outperforming traditional banks such as Silicon Valley Bank (25%) and First Republic Bank (57%). Woo pointed out that Tether currently has 77% of its assets in cash equivalents, with the remainder in gold and Bitcoin, leading to an overall over-collateralization of 3%. Even if volatile assets experience a big dump of 30% in extreme market conditions, USDT still has 95% asset backing.