Morning News | Binance announces He Yi as Co-CEO; Taiwan's first regulated stablecoin may be launched next year; SEC Chairman says the "Cryptocurrency Market Structure Bill" is about to be passed
Overview of Important Market Events on December 3rd整理：ChainCatcher
Important News:
- Binance announces He Yi as Co-CEO
- Taiwan's first regulated stablecoin may launch next year
- Yi Li Hua: The 60-day bear market in the crypto market may end, continuing to be optimistic about the subsequent market
- US SEC Chairman: The "Cryptocurrency Market Structure Bill" is about to pass
- Stablecoin payment app Fin completes $17 million funding, led by Pantera Capital
- YZi Labs accuses BNB Treasury company CEA Industries' asset management party 10X Capital of mismanagement and threatens to abandon BNB strategy
- UK media: Anthropic starts IPO preparations, may go public as early as 2026
What important events happened in the past 24 hours?
Bloomberg: Trump family's crypto assets plummet, with some projects down over 90%
According to ChainCatcher, Bloomberg reports that the crypto projects promoted by the Trump family have suffered severe blows, with declines far exceeding mainstream assets like Bitcoin. On Tuesday, the crypto mining company American Bitcoin, co-founded by Eric Trump, plummeted 50% in a single day, down 75% from its peak.
The World Liberty Financial token WLFI, co-founded by President Trump and his son, is down 51% from its early September peak; Alt5 Sigma, promoted by Trump's son, has dropped about 75%; and the memecoins named after the president and his wife Melania are down approximately 90% and 99% from their January highs, respectively. In contrast, Bitcoin has only dropped about 25% during the same period.
American University law professor Hilary Allen pointed out that the rapid devaluation of the crypto projects launched by the Trump family has failed to bring the expected legitimacy to the industry. The collapse of these projects has resulted in a loss of over $1 billion in the Trump family's wealth and shaken market confidence in crypto assets and the president himself.
According to ChainCatcher, at Binance Blockchain Week, Strategy founder and executive chairman Michael Saylor delivered a speech themed "Bitcoin = Digital Capital," stating that over the past year, major banks and corporations, aside from the US government, have begun to embrace crypto. Today, 30% of American voters hold crypto assets, and the number of global crypto users exceeds 700 million.
As the first digital asset treasury, Strategy has set an example, currently holding Bitcoin worth $59 billion, ranking fifth in global corporate asset size, behind Berkshire Hathaway, Microsoft, Google, and Amazon. However, given time, we will become number one.
This is because, in addition to the stable growth of BTC's intrinsic value, Strategy also has an extremely healthy capital structure—an enterprise value of $68 billion, reserves of Bitcoin worth $59 billion, and an LTV (Loan to Value) of only 11%. Based on current financial data, the dividend coverage ratio is sufficient to cover the next 73 years.
What Strategy is doing includes creating currency, reducing risk, suppressing volatility, "purifying" returns, and compressing cycles… In summary, it is about transforming digital capital into digital credit.
According to ChainCatcher, as reported by Caijing Magazine, the laptop carried by Qian Zhimin, the main suspect in the laundering case involving 60,000 BTC, contains a cryptocurrency wallet. After several searches by the UK police, multiple electronic devices, including phones, computers, and USB drives, were seized, one of which stored photos of pages from Qian Zhimin's notebook, and it is suspected that the relevant pages were torn out before police confiscation.
The page photos recorded the boot password of this black computer and several mnemonic phrases, such as "digital + love," along with hints for the numbers, making it possible to recover the previously seized Bitcoin.
According to ChainCatcher, the prediction market platform Kalshi announced that it has become CNN's official prediction market partner, with its real-time probability data integrated into CNN's news programming, led by chief data analyst Harry Enten. CNN will receive real-time data support from Kalshi on the probabilities of future events in politics, culture, and more, and will use real-time information bars based on Kalshi data in relevant segments.
Kalshi claims that its platform has become an important tool for politicians, media organizations, and financial markets to observe future events. Previously, competitor Polymarket also stated in CBS's "60 Minutes" program that prediction markets are "the most accurate prediction tools currently available to humanity." The combined trading volume of both has exceeded $45 billion, with institutions like Google Finance, Yahoo Finance, Robinhood, and ICE collaborating with prediction market platforms.
Despite the rising mainstream acceptance, the prediction market industry still faces regulatory controversies. Kalshi has recently been subject to a nationwide class action lawsuit, accused of providing sports betting services without a gambling license and misleading consumers.
US November ADP employment change -32,000, expected 10,000, previous value 42,000
According to ChainCatcher, Jinshi reports that the US November ADP employment change is -32,000, expected 10,000, previous value 42,000.
UK media: Anthropic starts IPO preparations, may go public as early as 2026
According to ChainCatcher, the Financial Times reports that the AI startup Anthropic has hired law firm Wilson Sonsini to prepare for one of the largest IPOs in history, which may occur as early as 2026. According to insiders, the company is negotiating a round of private financing, with a valuation exceeding $300 billion.
Several sources indicate that the company has also discussed potential IPO plans with several major investment banks. However, the discussions are still in preliminary and informal stages, and the company has not yet approached selecting IPO underwriters. (Jinshi)
According to ChainCatcher, in an official announcement, YZi Labs Management Ltd., a major shareholder of BNB Treasury company CEA Industries, Inc. (NASDAQ: BNC), issued a formal notice and correction request to the company's asset management party 10X Capital Asset Management LLC.
YZi Labs accuses 10X Capital of mismanagement and lack of transparency, threatening to violate the strategic service agreement with YZi Labs. The core dispute lies in 10X Capital's threat to abandon the BNB treasury strategy in favor of investing in other cryptocurrencies like Solana, which contradicts the company's previous commitment of $500 million to PIPE investors for "establishing the BNB treasury operation."
YZi Labs demands that 10X Capital confirm in writing by December 5 that it will comply with the BNB treasury strategy and will not improperly dispose of BNB assets. It also pointed out that under 10X Capital's management, BNC's stock price has significantly lagged behind its peers, dropping about 19% from pre-PIPE announcement levels and 87% from post-announcement levels.
YZi Labs has submitted a preliminary consent solicitation to the US Securities and Exchange Commission, seeking to expand the board and appoint independent directors.
Stablecoin payment app Fin completes $17 million funding, led by Pantera Capital
According to ChainCatcher, Fortune reports that Fin, a global stablecoin payment application founded by former Citadel employees Ian Krotinsky and Aashiq Dheeraj (formerly known as TipLink), announced the completion of $17 million in funding, led by Pantera Capital, with participation from Sequoia and Samsung Next.
Fin aims to build a stablecoin-based cross-border payment solution, focusing on processing large transfers ranging from hundreds of thousands to millions of dollars. The app offers three main functions: transfers between users, bank account transfers, and crypto wallet transfers. Through stablecoin channels, Fin promises lower fees and faster transfer speeds than traditional banks.
The app has not yet been officially launched and plans to conduct pilot collaborations with import and export trading companies next month. The company will achieve profitability through fees and interest income from stablecoin wallets. CEO Krotinsky stated that Fin's main competitors are large commercial banks like JPMorgan and Barclays that provide international remittance services, aiming to become one of the largest payment applications globally.
Binance announces He Yi as Co-CEO
According to ChainCatcher, on December 3, Binance announced at the Binance Blockchain Week event that co-founder He Yi officially assumed the role of Co-CEO.
Binance Co-CEO Richard Teng stated, "Since Binance's inception, He Yi has always been an important member of the core management team. Her innovative thinking and user-centric philosophy have played a key role in continuously advancing and shaping the company's vision, culture, and bottom-up business strategy. This appointment is a natural progression, and she will continue to drive the company's growth."
Richard further added, "We are committed to becoming the most trusted and compliant exchange globally, adhering to a user-first approach. He Yi plays a crucial role in growing the community and driving product innovation, which is vital for achieving our goal of one billion users. In the future, we will continue to focus on building Web3 infrastructure, promoting financial freedom, and empowering more people to participate in a more open and equitable financial system."
He Yi stated, "I am honored to work alongside Richard. He has decades of rich experience in regulated financial markets and is one of the earliest financial regulators involved in the crypto industry. We have diverse perspectives and are confident in leading the future together at this critical moment in the industry. We will continue to expand our business globally in a responsible manner, driving sustainable innovation while always placing users at the core."
According to ChainCatcher, during Binance Blockchain Week, ChainCatcher interviewed He Yi regarding Binance's announcement of her appointment as "Co-CEO." He Yi stated that this structural adjustment will not bring fundamental changes to daily operations, but the three most important construction directions after her appointment are:
First, to continue Binance's culture. She emphasized that the foundation of Binance's success lies in its culture, and in the future, she will continue to uphold and extend the core culture of "user-centric." Second, she will focus on promoting systematic organizational construction to enhance overall efficiency, rather than just empowering individual points. Finally, she stated that although she does not come from a technical background, she firmly believes that technological innovation is the driving force for the industry's advancement, and therefore she looks forward to introducing and promoting the application of AI technology at Binance to empower the long-term development of the entire industry.
According to ChainCatcher, Binance founder Zhao Changpeng commented on "He Yi becoming Binance Co-CEO," stating, "He Yi should have been the CEO of Binance from day one (8 years ago). Binance has two strong leaders with complementary skills, and a great journey lies ahead."
US SEC Chairman: The "Cryptocurrency Market Structure Bill" is about to pass
According to ChainCatcher, The Bitcoin Historian reports that US Securities and Exchange Commission (SEC) Chairman Paul Atkins stated in a live interview with Fox News that the Bitcoin market structure bill is about to pass.
According to ChainCatcher, Yi Li Hua, founder of Liquid Capital (formerly LD Capital), posted on social media stating, "Although BTC has returned to $93,000, BCH has reached a recent high, and WLFI has stabilized after a surge, ETH and the overall market are lagging behind the stock market and macro favorable environment. With the confirmation of another crypto-friendly new chairman (Federal Reserve) following the SEC chairman, the 60-day bear market in the crypto market may end. This 60-day bear market was caused by the '1011' crash, which led to a severe decline in liquidity across the industry, along with the resonance of the four-year cycle, Japan's interest rate hike, and government shutdowns. However, these negative factors have now been digested, and with the dual benefits of interest rate cuts and crypto policies, I remain optimistic about the subsequent market. Investment always requires not only wisdom but also patience."
Taiwan's first regulated stablecoin may launch next year
According to ChainCatcher, CoinDesk reports that Taiwan's first locally issued stablecoin may go live in the second half of 2026, but regulators have yet to decide on the type of currency the token will be pegged to.
Pang Jinlong, chairman of the Financial Supervisory Commission of Taiwan, told legislators that the draft "Virtual Asset Service Act" has passed preliminary cabinet review and may be passed in three readings in the next session. Special regulations for stablecoins will be issued within six months, with the earliest launch possible by the end of 2026.
The bill does not restrict issuers to banks, but the Financial Supervisory Commission and the central bank have reached a consensus that financial institutions will lead the issuance in the initial stage. It is still unclear what currency will support the stablecoin: it may be pegged to the US dollar or the New Taiwan dollar, depending on market demand.
Meme Popularity Ranking
According to the meme token tracking and analysis platform GMGN, as of December 4, 09:00,
The top five popular ETH tokens in the past 24 hours are: SHIB, LINK, PEPE, UNI, ONDO
The top five popular Solana tokens in the past 24 hours are: TRUMP, PENGU, Fartcoin, FO, ME
The top five popular Base tokens in the past 24 hours are: PEPE, BASED, B3, SLAP, TOSHI
What are some interesting articles worth reading in the past 24 hours?
President becomes a gambler: 800,000 investors suffer huge losses, Trump family cashes out
A capital marriage originally aimed at "changing the future of finance" and bringing hundreds of millions of dollars in wealth to the Trump family has now turned into a nightmare for investors, who feel deeply betrayed due to partner involvement in a money laundering scandal, plummeting stock prices, and regulatory investigations—something that, in the eyes of foreign media, may represent "the unprecedented corruption of the White House in American history."
He wrote AI policies for Trump, and the companies he invested in made $200 billion
In July 2025, Washington was stiflingly hot. In a neoclassical hall near the White House, an unprecedented AI summit was taking place. US President Trump stood at the podium, alongside his newly appointed AI and cryptocurrency czar—David Sacks.
The audience was a who's who of the tech world: Nvidia CEO Jensen Huang, AMD CEO Lisa Su, and many of Sacks' friends, colleagues, and business partners from Silicon Valley. Almost everyone would benefit from the executive order Trump was about to sign.
But the behind-the-scenes story of this summit is far more exciting than the speeches on stage. According to The New York Times, Sacks initially planned for his podcast All-In to exclusively host this White House event. Sponsors were invited to pay $1 million in exchange for tickets to a private reception and the opportunity to be with the president.
From ballet dancer to youngest billionaire: How she built a $10 billion empire, Kalshi
Kalshi is currently valued at $11 billion, making its two co-founders (Luana Lopes Lara and Tarek Mansour) billionaires, with Luana Lopes Lara becoming the youngest self-made female billionaire in the world.
Luana graduated from MIT with a degree in computer science.
During college, her summer internships included working at Ray Dalio's Bridgewater Associates and Ken Griffin's Citadel. In just six years, she built a startup valued at $11 billion.
Bitcoin flywheel effect fails, what are Strategy's ways to unlock?
Since October, MSTR has dropped about 50%, significantly retreating from its peak of $457 last year, far underperforming the market. MarketBeat data shows a 12-month low of about $155.61 and a high of over $450, currently entering a relatively undervalued low range with extremely high volatility.
Why has MSTR's stock price remained sluggish for months, far underperforming the market, and even worse than Bitcoin itself? This raises market doubts about whether the Bitcoin flywheel effect has already failed.
Risk warning
Risk warning
