Coinbase CEO Brian Armstrong stated that the traditional financial system has collapsed. （Watcher.Guru）

Tom Lee's Bitmine bought 48049 ETH worth $140.58 million again 5 hours ago. （Lookonchain）

[Machi Big Brother Deposits Approximately 1.2 Million USDC into Hyperliquid to Long ETH Again] Machi Big Brother deposited approximately 1.1997 million USDC into Hyperliquid 7 hours ago to continue longing ETH. These funds have been fully utilized to open a 25x leveraged long position on ETH, with a position size of 4,050 ETH, valued at approximately $1.19 million, and a liquidation price of $2,694. Currently, Machi Big Brother has accumulated a total loss of $21.21 million on Hyperliquid.

[Senator Warren Sends Letter Requesting Investigation into PancakeSwap and DEX National Security Risks] U.S. Senator Elizabeth Warren has sent a letter to Treasury Secretary Scott Bessent and Attorney General Pamela Bondi, requesting an investigation into the potential national security risks of decentralized exchanges, specifically naming PancakeSwap. The letter mentions allegations that PancakeSwap was involved in money laundering by North Korean hackers and transactions related to the stablecoin USD1, which is associated with former U.S. President Donald Trump. According to a report by Allium, approximately $263 million of the $1.4 billion theft at Bybit was laundered through PancakeSwap. Warren has requested both departments to respond by January 12, 2025, regarding the associated risks and measures to prevent conflicts of interest.

[Bank of Canada Plans to Approve Only High-Quality Stablecoins Pegged to Central Bank Currency Under New Rules in 2026] The Bank of Canada stated that under new regulations expected to be introduced in 2026, only high-quality stablecoins pegged to central bank currency will be approved to ensure they serve as "premium money." Governor Tiff Macklem emphasized the hope that stablecoins could become a form of premium money, similar to cash or demand deposits. He proposed that stablecoins must maintain a 1:1 peg with central bank currency and that reserves should consist of highly liquid, high-quality assets such as short-term government bonds. This statement follows the release of the 2025 annual budget report in early November, which requires issuers to hold sufficient reserves and establish redemption and risk control frameworks.