Morning News | Nasdaq NCT announces strategic acquisition of Starks Network; AllScale completes $5 million seed round financing; WET token public sale shares sold out instantly again
Overview of Important Market Events on December 8整理：ChainCatcher
Important News:
- Trump's post contains "$BIG", market questions his re-release of meme coins
- Banmu Xia: The Fed's rate cut this week will normalize liquidity, and the market will see a broad rise this week or even this month
- Binance: Employees indeed used insider information for personal gain, have been suspended and will face legal responsibility
- Fidelity CEO: Wall Street will be "forced" to accept blockchain technology
- Robinhood will enter the Indonesian market by acquiring a brokerage business and a crypto trading platform
- AllScale completes $5 million seed round financing, led by YZi Labs
- Nasdaq NCT announces strategic acquisition of Starks Network (zCloak), entering on-chain digital asset infrastructure
What important events have occurred in the past 24 hours?
AllScale completes $5 million seed round financing, led by YZi Labs
According to ChainCatcher, self-custody stablecoin digital bank AllScale announced the completion of a $5 million seed round financing, led by YZi Labs, with participation from GSR Ventures, Generative Ventures, Aptos, Deep Mind, INP Capital, Astera Ventures, Summer Sun Capital, Carry Investment, V3V Ventures, and others.
JPMorgan: The rise of US stocks may be difficult to sustain after the Fed's rate cut
According to ChainCatcher, JPMorgan strategists stated that as investors take profits, the recent stock market rally may stall after the Fed's anticipated rate cut. Positive signals from policymakers have fueled bets, helping the stock market rise.
JPMorgan strategists maintain a bullish outlook for the medium term, believing that the Fed's dovish stance will support the stock market, while low oil prices, slowing wage growth, and easing tariff pressures in the US will allow the Fed to loosen monetary policy without exacerbating inflation.
According to ChainCatcher, Binance officially announced that an employee used insider information to post content on social media for personal gain.
The investigation revealed that the employee issued tokens on-chain at 05:29 UTC on December 7, and less than a minute later, related tweets were posted through the official @BinanceFutures account. Binance has immediately suspended the involved employee and will cooperate with relevant judicial authorities to take legal action.
At the same time, Binance announced that it will reward five whistleblowers who provide valid clues through official reporting channels with a total of $100,000.
Hassett: Trump will announce a lot of positive economic news
According to ChainCatcher, Kevin Hassett, Director of the National Economic Council at the White House, stated that Trump will announce a lot of positive economic news.
Musk clarifies the sale of shares at an $800 billion valuation: the company has maintained positive cash flow, and NASA orders account for only 5% of total revenue
According to ChainCatcher, regarding the previous report that "SpaceX plans to sell internal shares at an $800 billion valuation and plans to go public in the second half of next year," Musk clarified on the X platform, stating, "Many media outlets claim that @SpaceX plans to raise funds at an $800 billion valuation, but this is not accurate. SpaceX has maintained positive cash flow for years, regularly repurchasing shares twice a year to provide liquidity for employees and investors. The increase in valuation is due to the progress of Starship and Starlink, as well as the assurance of global direct neighborhood spectrum, which greatly expands our reachable market.
Another important point: while I really like @NASA, next year their (orders) will account for less than 5% of our revenue. Commercial Starlink is undoubtedly the largest contributor to our revenue. Some claim that SpaceX receives "subsidies" from NASA. This is completely wrong.
The SpaceX team won the NASA contract because we provided the best product at the lowest price. We have both the best product and can do it at the lowest price. Regarding astronaut transportation, SpaceX is currently the only option that meets NASA safety standards."
Jupiter platform's WET token public sale shares sold out instantly again
According to ChainCatcher, Jupiter's official announcement on social media today at 23:40 Beijing time stated that the public sale round for HumidiFi (WET) has started, and shares were sold out instantly again.
It is worth noting that due to the previous public sale round being "snatched up by bots" in one second, Jupiter decided to restart the public sale this Monday, originally scheduled for 23:00 Beijing time tonight, but was postponed three times. Jupiter DTF once showed that this public sale was postponed to December 9 at 0:00, but ultimately "went back" again.
Currently, Jupiter's latest tweet still states that the HumidiFi (WET) public sale round will start at 0:00 on December 9, while Jupiter DTF shows that this public sale has ended (no longer displaying the countdown for the public sale round).
Nasdaq NCT announces strategic acquisition of Starks Network (zCloak), entering on-chain digital asset infrastructure
According to ChainCatcher, GlobeNewswire reported that Intercont (Cayman) Limited (Nasdaq: NCT) announced that it has signed a letter of intent to acquire less than 50% of the minority stake in Singapore Web3 technology company Starks Network Ltd, and will jointly promote the development of the zCloakNetwork project, officially moving towards the layout of on-chain digital asset infrastructure.
The zCloak Network business covers AI digital identity, enterprise-level self-custody wallets, stablecoin payments, and AI encryption payment technology, and has received investments from institutions such as Coinbase Ventures. The two parties will cooperate to apply Web3 technology to the digital transformation of payment and business processes in shipping trade, accelerating the intelligent upgrade of the industry.
As global stablecoin payment volume is expected to surpass the combined total of Visa and Mastercard for the first time in 2024, the demand for compliant, secure, and scalable wallet infrastructure continues to grow. NCT stated that this acquisition is an important step in promoting the group's long-term strategy and exploring cross-industry layout.
NCT and Starks leaders stated that this cooperation symbolizes "Venetian merchants setting sail again on the blockchain." The two parties will jointly promote the implementation of enterprise-level Web3 technology in the global shipping and trade field.
According to ChainCatcher, Reuters reported that Robinhood announced in a blog post on Sunday that it will acquire Indonesian brokerage firm Buana Capital Sekuritas and licensed digital asset trader Pedagang Aset Kripto, marking the retail trading platform's official entry into one of Southeast Asia's major cryptocurrency hubs.
Indonesia has over 19 million capital market investors and 17 million cryptocurrency traders, highlighting its attractiveness in stock and digital asset trading. Acquiring a brokerage firm helps the company meet regulatory requirements and establish a business foothold, facilitating smoother entry into new markets; while acquiring a licensed digital asset trader can accelerate access to cryptocurrency products. Robinhood did not disclose the financial terms of the transaction, which is expected to be completed in the first half of 2026. The major shareholder of the two Indonesian companies, Pieter Tanuri, will continue to serve as a strategic advisor to Robinhood.
According to ChainCatcher, Decrypt reported that Carlos Domingo, co-founder and CEO of Securitize, stated that accessibility is not the only factor driving the wave of tokenized assets. It was once thought that tokenization could make illiquid assets liquid, but this is not the case. Whether it's equity in apartment buildings or tokenized Pokémon cards, digital assets will inherit the liquidity shortcomings of their physical counterparts.
Domingo also stated that as tokenization technology develops, this dynamic may eventually change, but in the meantime, people are mainly focused on assets that can enhance existing liquidity, namely cash and US Treasury bonds. We have moved in the opposite direction of illiquid markets, and it can be said that the most successful tokenized asset is actually the US dollar, as evidenced by the growth of stablecoins.
Trump releases national security strategy, does not mention cryptocurrency and blockchain
According to ChainCatcher, Trump's national security strategy released on Friday outlines his government's priorities, noting that America's "core, critical national interests" revolve around artificial intelligence and quantum computing.
"We want to ensure that America's technology and standards—especially in the fields of artificial intelligence, biotechnology, and quantum computing—drive the world forward."
According to ChainCatcher, investor Xue Manzi recalled the development of Binance on the X platform, mentioning that "in June 2014, CZ first met He Yi (then co-founder and marketing head of OKCoin) at a blockchain sharing event in Shanghai, and it is said that the two talked for 10 hours, discussing everything from Bitcoin philosophy to exchange operations, and He Yi invited CZ to join OKCoin Global as CTO."
In response, CZ commented (in the article) that "there are many inaccuracies in the details, and I won't go into them all. When I first met He Yi, I just said hello and didn't chat further, let alone for 10 hours."
Fidelity CEO: Wall Street will be "forced" to accept blockchain technology
According to ChainCatcher, DLnews reported that Fidelity Investments CEO Abigail Johnson bluntly stated that the traditional financial system is built on a complex reconciliation process network based on "primitive technology," which is quite scary. She pointed out that although blockchain will eventually replace the existing system, the transition will not be smooth and will require competitive pressure and regulatory standards to push the industry forward.
Fidelity has been betting on blockchain since 2013, with its Bitcoin ETF reaching $20 billion, second only to BlackRock. Johnson admitted to underestimating the time required for the transition but firmly believes that competition and regulation will force traditional financial institutions to eventually adopt new technologies.
Trump's post contains "$BIG", market questions his re-release of meme coins
According to ChainCatcher, Trends News monitored that Trump posted on Truth Social the day before, vehemently criticizing the judicial troubles faced by NCAA: a ruling by a judge with no knowledge or experience led to NCAA and sports leagues conceding, and Trump stated that this would bring "$BIG trouble." As the "$" symbol typically represents tradable asset codes on social media platforms, the community speculated that Trump might re-release meme coins.
Comprehensive dynamics across platforms indicate that the token with the highest consensus following Trump's post was BIG, created on the Solana network through the Bonk platform, which was snatched up about 10 seconds after his post. As of the time of writing, this token has 5,148 holders, with a peak market value of $5.3 million, which has now retraced to $360,000.
ChainCatcher reminds users that meme coins often lack practical use cases and exhibit significant price volatility, so investment should be approached with caution.
Bloomberg: DAT company's stock price has fallen sharply this year, with a median drop of 43%
According to ChainCatcher, Bloomberg reported that the stock price of crypto asset treasury (DAT) companies listed in the US and Canada has fallen sharply this year, with a median drop of 43%, and some companies have seen declines of over 99%.
Previously, these companies had financed to purchase Bitcoin or other tokens, with stock prices soaring alongside their holdings, but due to the lack of income from token holdings and the burden of debt interest and dividends, investor sentiment has turned sharply. SharpLink Gaming's stock price has fallen 86% from its peak, Greenlane Holdings has dropped over 99%, and Alt5 Sigma, supported by the Trump family, has also fallen about 86%. Strategy's stock price has decreased by 38% this year.
According to ChainCatcher, Chinese crypto analyst Banmu Xia stated, "The Fed's rate cut and balance sheet expansion this week will normalize tight liquidity, and this week will be a week of broad rises (in US stocks, crypto, precious metals, etc.), and the next month may also see broad rises."
Banmu Xia also referenced an article he published on November 11, stating, "Starting in December, the Fed will stop shrinking its balance sheet and may begin to expand it, at which point liquidity will return to normal, similar to October 2019. The real large-scale monetary easing will wait until May next year when Trump controls the Fed, similar to March 2020."
Meme Popularity Rankings
According to the meme token tracking and analysis platform GMGN, as of December 9, 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, NATO, SKYA, IMGN
What are some noteworthy articles to read in the past 24 hours?
Funding flywheel stalls, crypto treasury companies are losing their bottom-fishing ability
During the brief rally that began in April, crypto treasury companies acted as the main force in the market, providing a continuous supply of ammunition. However, when the crypto market and stock prices faced a double whammy, these treasury companies seemed to collectively fall silent.
When prices hit a temporary bottom, it should be the time for these treasury companies to bottom-fish. But in reality, buying behavior has slowed down or even stalled. This collective silence is not simply due to "ammunition" being exhausted at high points or falling into panic, but rather a systemic paralysis of the financing mechanism that heavily relies on premiums during the downturn.
Tether financial analysis: needs an additional $4.5 billion in reserves to maintain stability
In fact, understanding financial institutions requires overturning the logic of traditional enterprises. The starting point of analysis is not the profit and loss statement (P&L), but the balance sheet—while ignoring cash flow. Here, debt is not a limitation but rather the raw material for business. What truly matters is the arrangement of assets and liabilities, whether there is enough capital to cope with risks, and whether it can leave sufficient returns for capital providers.
Kevin Hassett: A new era for the Fed? Potential chair's in-depth analysis
Imagine the most powerful financial institution on Earth—the Federal Reserve—is about to completely change its course. This is not a simple policy adjustment, but a reshaping of its core DNA. Today, we will delve into a potential watershed moment in American economic history: Kevin Allen Hassett possibly becoming the chair of the Federal Reserve. This is not just a personnel change; it concerns a complete overhaul of how the Federal Reserve will operate in the future, profoundly affecting every aspect of our lives, from your mortgage rates to everyday commodity prices.
For over a century, the Federal Reserve has been seen as the guardian of financial stability, often following a consensus that prioritizes price stability. But what if this consensus is about to be broken? What if the next Federal Reserve chair views the world from a completely different perspective, one that could fundamentally alter our economic landscape?
How many developers does a company with a market value of $2 trillion need? What are the development costs?
According to public data estimates, among the companies listed in the US with a market value exceeding $2 trillion, the number of technical or development personnel ranges from a few thousand to over ten thousand, with annual salary expenditures reaching hundreds of millions or even billions of dollars.
For Bitcoin, whose market value once reached $2.5 trillion and still has a market value of nearly $1.75 trillion, these two figures are $41 and $840 million, respectively. Yes, this absolute "number one" in the cryptocurrency field has only 41 core developers, supported by annual donations of several million dollars and salaries from a few companies.
Risk warning
Risk warning
