「CZ's Countertrade」 Whale's ETH and XRP Long Positions See Unrealized Losses Expand to $24.93 Million

On Dec. 8, LookOnChain monitoring data reveals that three new wallets have withdrawn a total of 48.43 million FF (roughly $5.33 million) from Binance, Bitget, and Gate.io over the past three days.

On December 8, The Block reported that court documents reveal the Canada Revenue Agency (CRA) has collected over 1 billion Canadian dollars (roughly $72 million USD) in taxes from crypto-related audits over the past three years—but the agency has not filed any criminal charges since 2020, exposing a structural limitation in the country’s enforcement capabilities. The report notes the CRA’s 35-person crypto audit team has handled more than 230 cases, and estimates roughly 40% of taxpayers using crypto platforms either failed to report their taxes or pose a high compliance risk. However, the agency’s Chief Crypto Audit Officer admitted in a sworn affidavit that the CRA believes it “cannot reliably identify taxpayers in the crypto space or assess whether they are complying with income tax obligations.” Additionally, the report states the CRA obtained data on 2,500 users via a court order from Dapper Labs—the NFT company behind NBA Top Shot and CryptoKitties. The CRA initially sought

Three new wallets have withdrawn a total of 48.43M $FF($5.33M) from #Binance, #Bitget, and #Gateio over the past 3 days.

Farcaster founder Dan Romero announced in a post on December 8th that the protocol’s priority is building a top-tier wallet product to drive broader adoption. “Every new retained wallet user is a new user for Farcaster,” he noted. Over the past 4.5 years, Farcaster tested a “social-first” approach that failed to gain traction. With its wallet business growing, the team will double down on this direction—meaning future features and product positioning will center entirely around the wallet.

Coinbase has reopened cryptocurrency app registrations in India, per a December 8 TechCrunch report. The exchange resumed sign-ups after more than two years of suspended services, though users can currently only trade between cryptocurrencies. At India Blockchain Week (IBW), Coinbase’s Asia-Pacific head John O'Loghlen said the company plans to let Indian users deposit fiat currency to buy crypto by 2026. Coinbase launched in India in 2022 but halted UPI (Unified Payments Interface) support days later—after the National Payments Corporation of India (NPCI), UPI’s operator, refused to recognize the platform’s local business presence. In 2023, Coinbase suspended all services for Indian users and instructed them to withdraw their funds.

On December 8, Robinhood Markets, Inc. announced it has signed an agreement to acquire Indonesian brokerage Buana Capital and licensed crypto trading platform PT Pedagang Aset Kripto. The acquisitions mark Robinhood’s official entry into the Indonesian market, accelerating the company’s expansion across Southeast Asia and globally. Pieter Tanuri, the majority shareholder of both Buana Capital and PT Pedagang Aset Kripto, will continue serving as a strategic advisor to Robinhood.