Crypto Drop Wipes Out $370M in Bullish Bets as BTC, ETH Give Back Gains

US President Trump has stated that interest rates should be 1% or lower next year. （Watcher.Guru）

The stablecoin giant Tether has submitted a bid to acquire Italy's largest football club. （The Bitcoin Historian）

[Trump Says Thailand and Cambodia Agree to Comprehensive Ceasefire] On December 12 local time, U.S. President Trump stated on social media that he had spoken separately with Thai Prime Minister Anutin and Cambodian Prime Minister Hun Manet earlier that morning. Trump said the two leaders had agreed to cease all hostilities starting that evening and return to the original peace agreement previously reached with Trump's involvement. Trump also thanked Malaysian Prime Minister Anwar for his assistance in facilitating the ceasefire.

The EU is pushing for the transfer of cryptocurrency regulatory functions to the European Securities and Markets Authority (ESMA), with the aim of reducing regional friction through centralized regulation. At the same time, the industry is paying attention to the implementation effectiveness of MiCA regulations and specific areas where adoption is slowing down. （Cointelegraph）

[Bank of America: Fed's Treasury Purchases May Suppress Long-Term Yields] Bank of America rate strategists stated that the Federal Reserve's purchase of Treasury bills to maintain ample liquidity in the banking system could potentially suppress long-term yields. Wall Street strategists generally expect that the Fed's reserve management purchase operations and the decision in October to use proceeds from mortgage-backed securities to purchase Treasury bills will absorb most of the net supply of Treasury bills over the next year.