Wu Chi-chung Re-elected as Member of the Eighth Legislative Council of Hong Kong, Pledges to Further Promote Web3 Development in Hong Kong

December 10th — Per monitoring from HyperInsight (via its Telegram channel @HyperInsight), the "1011 Insider Whale" currently holds a $2.68 billion ETH long position with 5x leverage. The position has an entry price of $3,108.49 and an unrealized profit of $16.8 million. Additionally, the whale maintains an open $63 million limit order to go long at $3,280, planning to further expand its position.

On December 10, Binance founder CZ retweeted a photo of himself wearing Trump’s 2024 limited-edition Bitcoin sneakers (“Bitcoin Sneakers”). He said the shoes were a gift from a friend and noted he believes they also function as an NFT. The high-top kicks feature an orange-yellow color scheme and the Bitcoin symbol (?). The 1,000-pair limited run originally retailed for $499, selling out instantly after its July 31, 2024 online presale. Current secondary market prices have doubled, ranging from $700 to $2,500.

On December 10, U.S.-listed Bitcoin treasury firm Strive announced it has entered into a sales agreement. Strive may issue and sell its variable-rate Series A Perpetual Preferred Stock (par value $0.001 per share, referred to as "SATA Stock") under an at-the-market (ATM) program with a maximum aggregate offering price of up to $500 million. Net proceeds from the ATM program will be used for general corporate purposes, including but not limited to: acquiring Bitcoin and Bitcoin-related products; supplementing working capital; purchasing income-generating assets to expand the company’s business; and other capital expenditures.

On Dec. 10, blockchain analytics platform OnchainLens reported that Ethena withdrew 1.59 billion ENA tokens from Coinbase Prime—valued at roughly $443 million.

On Dec. 10, SlowMist founder Wu Xie commented on Arkham’s analysis of Zcash (ZEC)—titled “More Than Half of Zcash Transactions Can Be Traced”—noting that it’s unsurprising a high percentage of Zcash transactions are traceable. Zcash has operated this way since the previous privacy coin hype cycle: it doesn’t enforce privacy by default; instead, users choose their transaction type. For example, addresses starting with “z” support shielded privacy transactions, while those starting with “t” are transparent and traceable. This design makes Zcash more acceptable to regulators than privacy coins like Monero (XMR), which enforces privacy by default. Currently, most Zcash addresses on mainstream platforms start with “t”—a clear sign the number of people who actually prioritize privacy is extremely small. Catering to regulatory requirements is a key path forward for platforms. Compared to Monero’s hardcore approach, Zcash’s privacy framework strikes a better balance, and it may follow a

On December 10, Decrypt reported that former SEC Chairman Paul Atkins told attendees at the Blockchain Association’s Annual Policy Summit that various ICOs should be classified as non-securities transactions, falling outside the SEC’s regulatory scope. Atkins cited his Token Classification Framework—rolled out last month—which splits the crypto industry into four main token categories. Network tokens, digital collectibles, and digital commodities are not securities, he said, so their associated ICOs are non-securities transactions. He emphasized the SEC should only regulate one ICO category: security token offerings (STOs)—tokenized versions of securities already under SEC oversight that are traded on blockchain.