Author: 行政

Total crypto losses from hacks and exploits fell 60% in December to $76 million, a sharp decline from the $194.2 million recorded in November across 26 major incidents. The month’s largest theft involved a $50 million “address poisoning” scam where a victim accidentally sent funds to a lookalike wallet. Trust Wallet committed to fully reimbursing users following a $7 million Christmas Eve exploit caused by a malicious code update to its Chrome browser extension. Crypto theft and exploit losses totaled about US$76 million (AU$116.2 million) in December, down 60% from US$194.2 million (AU$297.1 million) in November, according to blockchain security…

A federal judge in Florida dismissed a class-action lawsuit against Mark Cuban and the Dallas Mavericks that accused them of misleading investors by promoting Voyager Digital. The ruling dismissed all allegations of securities law violations and consumer fraud “in its entirety,” leaving the plaintiffs with no path to refile the case in that court. The legal action stemmed from Voyager’s 2022 bankruptcy following a broader crypto market crash triggered by the collapse of the Terra blockchain. A proposed class action accusing Mark Cuban and the Dallas Mavericks of misleading investors by promoting crypto lender Voyager Digital has been thrown out…

Bitwise’s year-end barrage of ETF paperwork should have been a perfect spark for “alt season.” On Dec. 30, the issuer filed with the US Securities and Exchange Commission to launch 11 single-token “strategy” ETFs tied to Aave, Uniswap, Zcash, NEAR, Starknet, Sui, Bittensor, Tron, and other protocols.Each fund would allocate about 60% of its assets to the underlying coin and the rest to related ETPs and derivatives, with an expected effective date in March 2026.However, crypto prices and flows barely registered the news. That gap is where a market is now showing ETF filing fatigue.The 11 new Bitwise products land…

At the start of 2025, crypto’s biggest names issued bold forecasts: Bitcoin to $200,000, Ethereum to $7,000, a US strategic reserve, and stablecoins going mainstream.Twelve months later, the scoreboard reveals a pattern. The price targets mostly crashed and burned, while the structural calls on regulation, ETFs, and payments infrastructure quietly came true.Here’s who nailed it, who missed the mark, and what the gap between hype and reality says about how this market actually works.Bitcoin $200,000, Ethereum $7,000, Solana $750Bitwise’s December 2024 outlook opened with blockbuster numbers: Bitcoin to $200,000, Ethereum to $7,000, Solana to $750, all riding ETF-driven adoption and…

On the last trading days of the year, the kind of chart that almost nobody outside finance ever looks at started yelling again.Banks piled into the Fed’s Standing Repo Facility, borrowing a record $74.6 billion on Dec. 31 for 2025. Overnight funding rates popped, the benchmark SOFR briefly hit 3.77%, the general collateral repo rate touched 3.9%.Overnight REPO Chart (Source: NY Fed) Related ReadingBanks just demanded $26 billion in emergency cash but Bitcoin traders are missing a critical warning signalYear-end stress tested the central bank’s “ample” reserve theory, creating a binary scenario for risk assets in January. Dec 31, 2025…

2025 delivered at least four distinct “crypto is dead” episodes: a January AI-induced flash crash, the October tariff liquidation that erased $19 billion in leveraged positions, months of altcoin carnage, and a fourth quarter slump that wiped out the year’s price gains.Mainstream outlets dusted off “crypto winter” language each time. Bitcoin logged more obituaries by mid-year than in all of 2024, bringing the all-time tally past 470 since 2010.Yet, beneath the violent drawdowns and Twitter eulogies, the infrastructure kept building.Stablecoin legislation passed. Spot ETFs pulled in tens of billions. Major jurisdictions published actual rulebooks rather than issuing enforcement threats.The result…

Glassnode data shows that XRP’s exchange balances hit their lowest level since 2018 in late December, sparking the usual wave of accumulation phase speculation and “tight supply = moon” commentary.While the eight-year low encompasses the entire exchange ecosystem, CryptoQuant data for Binance offers a recent window into whether these troughs actually precede rallies.Binance’s XRP reserves dropped to roughly 2.6 billion by mid-December 2025, matching the July 2024 low, after peaking above 3.5 billion in early September.The question isn’t whether supply thinned, but whether prior episodes of similarly low Binance reserves preceded medium-term outperformance, or whether the pattern is just noise…

If you followed Bitcoin ETFs day to day in 2025, you probably developed the same habit everyone did: you checked the print at night, read one sentence about “risk-on” or “risk-off,” then tried to map a clean story onto a messy market.The problem is that daily flows are noisy by design. They’re the residue of dozens of different motives that just happen to share the same wrapper: financial advisers rebalancing model portfolios, hedge funds adjusting basis trades, wealth platforms handling subscriptions and redemptions, and long-only allocators adding or trimming exposure because their investment committee finally met.Sometimes the ETF tape tracks…

There is a particular kind of Bitcoin holder who only shows up when the noise gets loud.They are the people who watched 2021 melt into 2022, who kept their keys anyway, who learned to live with the idea that the line on the chart can drop faster than their mood. When the price is ripping higher, they are treated like prophets. When price rolls over, they are treated like villains.Over the past few weeks, the villain story has been everywhere, long-term holders are dumping, the old hands are cashing out, and the cycle is ending. The story makes emotional sense;…

The Ethereum blockchain recorded its strongest operational year in history in 2025, processing record transaction volumes and securing the vast majority of the DeFi market.However, the crypto asset that powers the network failed to mirror that growth, posting double-digit losses for the year.According to CryptoSlate’s data, ETH is trading down 10% year-to-date at under $3000. Its performance against Bitcoin, the flagship digital asset, has also lagged, with the ETH/BTC ratio falling 6% since the start of the year.This divergence highlights a fundamental shift in the economics of the world’s most widely used commercial blockchain.Ethereum Daily Transactions (Source: YChart)While network utility…