[1011 Insider Whale Suffers $22.43M Unrealized Loss in 24 Hours, Jeffrey Huang Faces $1.002M Unrealized Loss] On-chain data shows that the '1011 Insider Whale' experienced an unrealized loss of $22.43 million in 24 hours. As the market rebounded, the unrealized loss on its $670 million long position narrowed to $12.97 million. Among this, the ETH holdings amount to nearly $550 million, with unrealized losses accounting for over 80%. Due to a high margin of $129 million, the liquidation probability remains low. 'Big Brother Machi' Jeffrey Huang faced an unrealized loss of $1.002 million in 24 hours. After being liquidated for a $720,000 loss early in the morning, he added $200,000 in margin. He currently holds 3,875 ETH with an unrealized loss of $300,000. The liquidation price is $3,053.73, leaving only $58.97 of room from the mark price.

Saifedean Ammous stated that the popularity of Bitcoin will not stem from its coolness like the iPhone, but from its popularity like gunpowder, and if one does not hold Bitcoin, they will become its victim. （Bitcoin Archive）

[Net outflow of 69,300 ETH from CEX in the past 24 hours] In the past 24 hours, a total net outflow of 69,300 ETH was recorded from CEX. The top three outflows were: Coinbase Pro with 72,900 ETH, Gate with 265.93 ETH, and Gemini with 25.75 ETH. Additionally, Bybit saw an inflow of 2,031.03 ETH, ranking first on the inflow list.

[Trump Says Kevin Warsh Rises to Top Candidate for Next Fed Chair] U.S. President Trump stated on Friday that Kevin Warsh has risen to the top of his list of candidates for the next Federal Reserve Chair, though other candidates remain in contention. On Wednesday, the Federal Reserve lowered the benchmark federal funds rate to a range of 3.5%-3.75%. Trump believes rates should be lower and noted that Warsh largely agrees with his stance on monetary policy. Kalshi data shows that prediction markets have shifted accordingly, with Hassett's nomination probability dropping from about 71% to 62%, while Warsh's probability stands at 36%. Trump reiterated that the Fed Chair should consult the president on rate decisions, a move that would overturn the tradition of the Federal Reserve maintaining its independence.

[U.S. Senate Banking Committee May Postpone Review of Cryptocurrency Market Structure Bill to 2026] Bipartisan U.S. senators held another meeting on the 'Cryptocurrency Market Structure Bill.' Senator Mark Warner stated that given the current state of the bill, it would be very difficult to review it next week. This view was supported by other senators, and it is highly likely that the U.S. Senate Banking Committee will have to wait until the new year to review the bill.