The crypto market is experiencing a general downturn, with new coins and star project coins facing a heavy sell-off.

On December 18, official sources confirmed that Fuse Energy—a decentralized finance (DeFi) project built on the Solana blockchain—has closed a $70 million Series B funding round. The round was co-led by Lowercarbon Capital and Balderton Capital, valuing the company at $5 billion.

On December 18, Binance founder Changpeng Zhao (CZ) shared insights during a year-end Q&A event: Building professional connections takes time. While some founders see rapid growth right after launching an idea, such cases are rare. Most founders need to invest time in building their network before achieving meaningful success—that’s his advice. For entrepreneurs, there’s no fixed formula for success; paths to it are diverse. He urged attendees not to take his advice too literally, noting he only shared it to set a tone for future questions and keep the session efficient. There will be plenty of opportunities ahead. He encouraged everyone to keep building, keep learning, and move forward step by step.

On December 18th, Binance founder Changpeng Zhao (CZ) spoke during a year-end Q&A event, sharing his takes on supporting builders and entrepreneurship: “I personally prefer backing long-term builders with a mission—folks who’re truly passionate about their work. Market trends shift nonstop: yesterday it was NFTs, today it’s prediction markets, tomorrow it’ll be stablecoins. But those builders need to genuinely love the niche they’re deep into. Adapting products to market demand is fine, but if you completely pivot direction every three months, that means you don’t actually love what you’re doing. Entrepreneurs have different motivations. Some just want quick cash, setting specific targets like $10M, $50M, or $100M. But entrepreneurship is tough—you need serious stamina; it’s almost like manual labor. Sometimes you’ll pull all-nighters, stay swamped, and handle massive physical and mental pressure.”

On December 18, Binance founder Changpeng Zhao (CZ) made comments during a year-end Q&A session, stating: “There’s competition in the stablecoin space, but I think that’s good for the overall industry—especially in a brand-new field. The market is huge, and what we’re seeing right now is just stablecoin 1.0. More advanced stablecoins (think those with higher yields or more complex functionalities) haven’t been widely adopted yet; we’re still just getting started. Current top stablecoins like USDT and USDC don’t offer much yield. Right now, we’re seeing 1.5 versions—such as FDUSD and USD1. FDUSD’s growth is limited due to high friction costs in fiat on/off ramps; USD1 has a strong U.S. foothold, with relevant project announcements today, so I think it has considerable potential.”

On December 18, per Onchain Lens data, a whale purchased 3,650 ETH (valued at ~$10.35 million) across Hyperliquid and Lighter—while simultaneously opening 20x leveraged ETH short positions on both platforms.

December 18th: Binance founder Changpeng Zhao (CZ) said during a year-end Q&A session: “I believe crypto adoption is still in the single digits—whether measured by user count or total wealth held. By total wealth metrics, the penetration rate is likely still below 1%. I think crypto still has room to grow by several orders of magnitude.”