In the past three days, three new wallets have withdrawn a total of 48.43 million FF tokens worth approximately 5.33 million US dollars from Binance, Bitget, and Gate.io. （Lookonchain）

Canada Canada Revenue Agency launches cryptocurrency tax judicial investigation on Dapper Labs users On December 8th, according to The Block, court documents show that the Canada Revenue Agency (CRA) has collected over CAD 100 million (approximately USD 72 million) in taxes through cryptocurrency related audits over the past three years, but has not filed any criminal charges since 2020, exposing the country's structural limitations in law enforcement capabilities. The report states that CRA has a team of 35 crypto auditors who have handled over 230 cases and estimate that approximately 40% of taxpayers using crypto platforms have not declared taxes or have high compliance risks. However, the Chief Crypto Auditor of the agency acknowledged in an affidavit that the CRA believes it is "unable to reliably identify taxpayers in the crypto sector and assess their compliance with" income tax obligations. In addition, the report also stated that CRA has obtained data from 2500 users through court orders from Dapper Labs, the NFT company behind NBA Top Shot and CryptoKitties. The CRA initially requested information on the top 18000 Dapper users, but after consulting with company executives and lawyers, the scope was narrowed down to 2500. The CRA filed an application with the Federal Court of Canada in September, marking the second time the court has required Canadian cryptocurrency companies to disclose such information. Similar commands were previously sent to Coinsquare, a Toronto based trading platform, in 2020.

[Upbit has frozen approximately $1.77 million in compromised assets and continues to track outflowing funds] Upbit operator Dunamu stated that the platform has frozen approximately 2.6 billion KRW (around $1.77 million) in compromised assets and is advancing related processes to ensure recovery. Upbit is utilizing its on-chain automatic tracking system (OTS) to trace outflowing funds and is collaborating with global exchanges to block liquidity. Although customer losses have been fully compensated by Upbit, the platform will continue to track and freeze the assets. Upbit resumed all deposit and withdrawal services on the 6th.

Farcaster co-founder Dan Romero announced that the platform will undergo a strategic adjustment, abandoning the "social-first" approach followed for over four years and shifting to a wallet-centric growth model. The team stated that the in-app wallet functionality is currently the module closest to product-market fit and will adopt the approach of "using tools first, then building the network." Romero emphasized that the Farcaster protocol will remain open and decentralized, while the official app will focus on expanding capabilities in the intersection of wallets and social features. Additionally, Farcaster had previously acquired the token issuance platform Clanker.

**["BTC OG Insider Whale" Once Again Bottoms ETH Long Position Last Night, Holding Over $160 Million]** BlockBeats reports that on December 8, according to Coinbob's popular address monitoring, after ETH dipped to $2,900 last night and began to rise steadily, the "BTC OG Insider Whale" (0xb31) seized the opportunity to bottom ETH long positions, continuously increasing holdings to $166 million at an average price of $3,048, with unrealized gains of $940,000. The current liquidation price is $1,795.34. Starting from 11 PM yesterday, the whale transferred $70 million from its Binance wallet to Hyperliquid and subsequently opened a 5x leveraged ETH long position, marking the largest position opening in the past 30 days. Previously, the "BTC OG Insider Whale" conducted swing trading on ETH on November 25 and November 29, first going long and then short, achieving small profits before fully closing positions on November 30. Additionally, monitoring shows that on December 1, addresses associated with the "BTC OG Insider Whale" (0xf6f, 0xF74, 0x411) cumulatively borrowed $220 million USDT from Aave and sent it to Binance wallets. Among them, the 0xf6f address collateralized over 126,000 ETH. On that day, ETH hit a 10-day low of approximately $2,718 before steadily rising. The "BTC OG Insider Whale" is a BTC OG address that had been dormant for 8 years and once held over 50,000 BTC. Its operations have repeatedly aligned closely with statements from Trump and U.S. policy trends. For instance, hours before the major drop on "10.11," the whale positioned $500 million in BTC shorts, profiting nearly $100 million and drawing significant market attention. BitForex CEO Garrett Jin has admitted to being associated with this address.