Author: 行政

Bitcoin miners produced block 929,699 on Dec. 27. What if that was the signal for a New Year’s moment, rather than our traditional calendar?The pitch is that block height, the ordered count of blocks every full node can verify, can act as a calendar layer for a market that trades and settles across jurisdictions.For argument’s sake, we’ll use Bitcoin Block Explorer and the last observed chain tip in this snapshot at height 929,699, timestamped Sat, 27 Dec 2025 09:47:19 UTC, with a mempool around 5,324 transactions at the time of the page’s update.The same source listed difficulty near 148.26T.According to…

Coinbase said a former customer support agent was arrested in India as investigators probe a breach tied to insider bribery and customer data theft.Chief Executive Officer Brian Armstrong said on Dec. 27 that the arrest involved a former support agent and thanked Hyderabad Police for assistance in the ongoing investigation.The update puts attention on the operational side of exchange security, including who can access support tooling, how exceptions are handled, and how outsourced teams are supervised.We have zero tolerance for bad behavior and will continue to work with law enforcement to bring bad actors to justice. Thanks to the Hyderabad…

Ethereum’s 2026 roadmap centers on two tracks: expanding rollup data capacity through blobs while pushing base-layer execution higher through gas limit changes.Those gas limit changes depend on validators moving from re-executing blocks to verifying ZK execution proofs.The first track is already anchored by Fusaka, which shipped Dec. 3, 2025.FusakaFusaka sets up PeerDAS plus blob parameter only (BPO) changes that can raise blob throughput in measured steps, according to ethereum.org.The second track is less mechanized because it relies on draft EIPs, client implementation, and validator operations that have to stay within decentralization constraints, including bandwidth, block propagation, and proving market structure.…

The following is a guest post and opinion from Anurag Arjun, Founder of Avail.The global stablecoin narrative is about to shift fast. What began as a US-dominated experiment in digital liquidity is morphing into a multipolar fight over who controls the rails of tomorrow’s monetary system. And the most consequential moves are unfolding in Asia—quietly, deliberately, and at increasing speed.For a decade, dollar-backed tokens (such as USDT and USDC) have dominated the market. But 2025 is the year that the reign begins to crack. Behind closed doors in Seoul, Tokyo, Hong Kong, Singapore, and Jakarta, a different plan is being…

In 2025, crypto regulation stopped being mostly about courtroom theater and started focusing on actual infrastructure.Debates over how or whether to regulate crypto became less philosophical and more operational. Regulators spent the year answering the “boring” questions that decide whether a market can scale: who is allowed to issue a “digital dollar,” what backs it, how fast investors can get a regulated wrapper like an ETF, and what counts as proper custody when the asset is a private key instead of a paper certificate.That’s why 2025 mattered even if you never read a single bill. Most of this year’s new…

Trust Wallet’s Chrome extension shipped a malicious update in December, exfiltrating wallet data and draining roughly $7 million from hundreds of accounts before the company pushed a fix.The compromised version 2.68 was live for days, auto-updating in the background, the way browser extensions are designed to. Users who followed every standard self-custody rule, such as never sharing their seed phrase, checking URLs, and using reputable wallets, still lost funds.The attack targeted the browser layer, not the blockchain, and it exposed a persistent trade-off that the industry has spent years trying to ignore: browser-extension wallets are always-on hot wallets sitting in…

Bitcoin ETF headlines have turned into a scoreboard with “record inflows,” “largest outflows ever,” and “institutions dumping.” The problem is that most stories isolate a single day or a single fund.Without context on cumulative flows, fund cohorts, and custody plumbing, they say very little about how much spot Bitcoin is actually changing hands, or what institutions are really doing.Take the latest wobble. U.S.-traded spot Bitcoin ETFs saw about $175 million in net outflows on Dec. 24, capping five straight negative sessions.It looks grim, but zooming out shows that the complex still holds roughly $113.8 billion in assets and has cumulative…

The Fermi hard fork will cut block times to 250ms, enabling faster DeFi and real-time apps. It will also introduce extended voting and partial indexing, leading to stability and lighter nodes. The experimental BAL showed ~18.6% execution gains in local tests. BNB Smart Chain is preparing for a major protocol upgrade early next year. The network’s upcoming Fermi hard fork, scheduled for mainnet activation in January 2026, signals a renewed push toward faster block times, higher throughput, and infrastructure designed for time-sensitive applications. Notably, the upgrade follows months of testing and reflects broader efforts across the blockchain sector to close…

On a cold ‘Betwixmas’ December morning, the mood around Bitcoin feels familiar and strange at the same time.Familiar, because the story still swings between euphoria and anxiety. Strange, because the people watching the chart now include a different crowd. Market Cap $1.75T 24h Volume $42.45B All-Time High $126,173.18 Some are still the veterans who lived through 2017 and 2021, some are newer, the ones who got exposure through a brokerage account and an ETF ticker, the kind of investor who never had to learn what a seed phrase is.Bitcoin is trading around $89,000. That number would have sounded ridiculous a…

Forced liquidations in the crypto derivatives market reached about $150 billion in 2025, according to CoinGlass data.On its face, the figure looks like a year of persistent crisis. For many retail traders, watching price feeds turn red became shorthand for chaos. In practice, it captured something more mundane and structural: the notional value of futures and perpetual positions that exchanges forcibly closed when margin fell short.Most of the time, that flow was more of a maintenance function than a crash. In a market where derivatives rather than spot markets set the marginal price, liquidations operated like a recurring levy on…