**["Calm Order King" Account Funds Grow to $1.5 Million in 10 Days]** On December 6, Coinbob monitoring showed that after partially closing ZEC short positions, "Calm Order King" increased positions again. Today, they continued to add BTC and SOL short positions and opened new MON short positions. The current total position size is approximately $24.18 million, with total unrealized profits of about $570,000. The main positions include: - 40x BTC short position size of approximately $16.03 million, unrealized profit of $370,000; - 20x SOL short position size of approximately $4.48 million, unrealized profit of $80,000; - 10x ZEC short position size of approximately $3.35 million, unrealized profit of $110,000; - 5x MON short position size of approximately $300,000, unrealized profit of $4,800. Since November 27, this address started with an initial capital of $200,000, and within 10 days, account funds have grown to $1.5 million.

[Chairman of the China Securities Regulatory Commission Wu Qing: New business models such as crypto assets require cautious handling] On December 6, at the 8th General Assembly of the China Securities Association, Chairman of the China Securities Regulatory Commission Wu Qing emphasized that securities companies must enhance governance effectiveness, implement corporate governance and equity management requirements, improve related-party transaction management mechanisms, and prevent shareholders from illegally interfering in operations. Wu Qing pointed out the need to strengthen transaction management, improve the fairness of investor trading services, protect the rights of small and medium-sized investors, and strictly prevent illegal arbitrage and disruption of trading order. At the same time, he stressed the importance of strengthening risk prevention in key areas, with a focus on businesses such as margin financing and securities lending, over-the-counter derivatives, private asset management, and institutions like subsidiaries of remote headquarters. Regarding new business models such as crypto assets, he called for in-depth analysis and cautious handling, stating that activities that cannot be clearly understood or effectively regulated should not be pursued, and illegal or non-compliant practices must be firmly avoided.

[Bitcoin Treasury Companies' Premiums Plummet, Entering the 'Darwin Phase'] Over the past year, the premiums of publicly listed companies holding large amounts of Bitcoin have significantly declined. MicroStrategy's premium dropped from 120% in March 2023 to around 10%, and companies like Hut 8 have shown increased correlation between their stock prices and Bitcoin prices. Analysts believe that the launch of Bitcoin ETFs and improvements in corporate governance are driving these companies into the 'Darwin Phase,' where valuations rely more on core business performance and management efficiency rather than the amount of Bitcoin held.

[Binance to Launch POWER USDT Perpetual Contract] Binance announces the launch of the POWER USDT perpetual contract.

[Bitdeer Reduced Holdings by 148.5 Bitcoins This Week, Total Holdings Dropped to 1,992.6] Bitcoin mining company Bitdeer posted a tweet stating that as of December 5, its Bitcoin holdings had dropped to 1,992.6 (excluding customer deposits). This week's Bitcoin mining output was 131.5, but 130 Bitcoins were sold during the same period, resulting in a net reduction of 148.5 Bitcoins.