[Deutsche Bank Analysts Optimistic About Coinbase's 'Everything Exchange' Strategy's Sustainable Growth Potential] Deutsche Bank analysts have given a positive evaluation of the 'Everything Exchange' strategy of U.S. crypto exchange Coinbase, viewing it as a key driver for the company's future growth. This strategy aims to transform Coinbase from a traditional spot trading platform into a one-stop trading platform encompassing derivatives, lending, DeFi services, and global market expansion. It includes extending the product line, global expansion, and enhancing institutional services. Analysts believe this strategy will help diversify revenue streams and strengthen market competitiveness, achieving sustainable growth across multiple business areas and supporting long-term fundamentals. Coinbase's CEO team has recently been actively advancing this project in New York.

[Hong Kong SFC: Total Market Value of Virtual Asset Spot ETFs Reaches HK$5.47 Billion, Significant Growth in Tokenized Funds] The Hong Kong Securities and Futures Commission (SFC) released its quarterly report, showing that as of the end of November, the total market value of SFC-approved virtual asset spot ETFs increased by 33% year-on-year to HK$5.47 billion, with the number of products rising to 11. The asset size of SFC-approved tokenized retail money market funds, launched this year, grew by 557% year-on-year to HK$5.48 billion as of the end of November, with the number of funds increasing to 8. Additionally, in August, the SFC and the Hong Kong Monetary Authority jointly reminded investors to be aware of market volatility related to the stablecoin concept.

[Binance Explores Reviving Binance.US Plan, May Reduce Changpeng Zhao's Stake] Binance is exploring plans to revive Binance.US, including a potential capital restructuring that would reduce Changpeng Zhao's ownership stake. As the majority shareholder, Changpeng Zhao has been a major obstacle to Binance.US's expansion in key states, and related discussions are still ongoing. If Binance acquires part or all of Changpeng Zhao's shares, it could appoint new leadership and implement growth strategies. Additionally, Binance has been seeking to establish closer ties with BlackRock.

[Trump's Support for Cryptocurrency Drives Numerous Companies into the Stock Market and Increases Market Risk] December 17 news: As U.S. President Trump openly embraces cryptocurrency, his policies and personal statements have altered the structure of the U.S. capital market. Trump, calling himself the 'first crypto president,' ended strict regulation of the crypto industry after taking office, promoted pro-crypto legislation, and publicly endorsed crypto investments, even launching a meme coin called TRUMP. Against this backdrop, over 250 publicly listed companies this year have begun incorporating cryptocurrencies into their balance sheets, attracting investors by hoarding digital assets like Bitcoin. Some companies lacking mature core businesses have shifted their primary model to holding crypto assets, causing crypto risks to spread to a broader range of investors through the stock market under Trump's policies, prompting investors to bear higher volatility and valuation risks.

[NY Times: Plume Co-founders Communicate with Trump and Partner with World Liberty] The New York Times reported today that Plume co-founders Chris Yin and Teddy Pornprinya recently engaged in direct communication with U.S. President Trump, Vice President, and Treasury Secretary. The two participated in the White House crypto report and discussions with the SEC, and established a U.S. headquarters at the Empire State Building in New York to advance compliant RWA infrastructure development. Additionally, Plume has reached a business partnership with the Trump family's crypto project, World Liberty.