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According to BusinessInsider, billionaire investor and hedge fund founder of Third Point, Dan Loeb, stated in a podcast that current market concerns about the "bubble theory" of artificial intelligence (AI) are greatly exaggerated, and the development stage of the AI industry is completely different from that of the internet bubble period.Loeb pointed out that technology giants, including Alphabet, Microsoft, Amazon, and Meta, have collectively exceeded $700 billion in capital expenditures this year, which may reach $1 trillion next year, with the vast majority allocated for AI infrastructure development. He stated that to believe these capital expenditures will not yield returns is equivalent to thinking that companies are "burning money for no reason," but currently, these companies have strong profitability and ample cash flow, allowing them to support investments with their own balance sheets.Loeb emphasized that this is different from the situation during the internet bubble when "valuations detached from fundamentals," and does not constitute a traditional valuation bubble. He also mentioned that AI companies like Anthropic are experiencing rapid revenue growth and accelerated product applications, indicating that the industry is still in the early stages of expansion.Reports indicate that Anthropic's latest financing valuation is nearing $965 billion, with annualized revenue jumping from $14 billion to $47 billion, further strengthening market confidence in the commercialization potential of AI.However, there are still some investors in the market, including Michael Burry, who express concerns about the overheated valuations of AI, believing that massive investments may struggle to yield corresponding returns. Loeb, on the other hand, stated, "We haven't even scratched the surface of AI development," and believes that we are still in the early stages of long-term growth.

According to Reuters, private equity giant Apollo Global Management and Blackstone Group are bringing in more investors for a debt financing deal worth approximately $36 billion to help Anthropic build its artificial intelligence infrastructure.Insiders revealed that this debt financing will be used to purchase Google-customized TPU (Tensor Processing Unit) chips, which will then be leased by Anthropic. Broadcom, which assisted Google in developing the chips, will provide guarantees for the majority of the funds in this transaction.This move is expected to become one of the largest private credit transactions in history and may also be the largest chip financing debt transaction to date. The plan aims to provide computational power support for Anthropic by leveraging Broadcom's creditworthiness.

According to CoinDesk, Figure Technology Solutions CEO Mike Cagney stated that the company is trying to leverage blockchain to reconstruct the traditional credit market infrastructure and deeply integrate real-world assets (RWA), securitization, and DeFi.Data shows that Figure's loan issuance in March this year exceeded $1 billion for the first time in a single month, with a total lending volume of $2.9 billion in the first quarter, which annualizes to about $12 billion. Cagney stated that the company's goal is to reduce intermediaries in the securitization, lending, and stock lending markets through on-chain processes, lowering costs and enhancing liquidity.Currently, Figure has launched the yield-bearing stablecoin YLDS and has launched on-chain credit vault products on networks like Solana, allowing users to invest in tokenized credit assets or use them as collateral for borrowing. The company also plans to expand into the Ethereum ecosystem and explore stock tokenization and on-chain securities lending.Cagney believes that the true value of blockchain lies not in "putting everything on-chain," but in reconstructing the financial abstraction layer. "Financial assets such as loans, securities, and equity are naturally suited for on-chain processes, and the entire financial infrastructure may be rewritten as a result."

According to monitoring by Hyperinsight, in the past half hour, a whale starting with 0x310 opened a 16x leveraged BTC short position, totaling 653 BTC, valued at approximately 50.6 million USD, with an average price of 77,470 USD and a liquidation price of 81,308 USD. This address is currently the TOP 2 BTC holding address on the Hyperliquid platform.It is reported that about ten days ago, this new address and its on-chain associated addresses withdrew a total of 1,351 ETH in spot from the HitBTC trading platform, which were then all sold on Hyperliquid, cashing out approximately 3.18 million USD. After multiple positions were established, as of today, a total profit of 720,000 USD has been accumulated.

According to OnchainLens monitoring, trader Techno Revenant (@Techno_Revenant) has just unstaked 2.4 million HYPE after staking for 6 months, valued at 93.7 million dollars. It is currently uncertain whether he will sell or restake.Techno Revenant previously gained fame by making an early investment of 15 million dollars in the Trump family project World Liberty Financial (WLFI), obtaining 1% of the total supply after the token launch, and quickly profiting about 250 million dollars.

According to Ark Invest Tracker, Cathie Wood's Ark Invest series of funds massively sold off technology stocks and crypto ETFs yesterday. This mainly includes:Approximately 155,441 shares of Nvidia, worth about $27.77 million; approximately 76,622 shares of META, worth about $45.58 million; as well as 408,000 shares of Bitcoin ETF (ARKB) and nearly 200,000 shares of Bullish stock.

According to DL News, the Central Bank of Russia has warned that financial pyramid scheme organizers in the country have largely turned to using cryptocurrencies. In 2025, Russian citizens sent funds to cryptocurrency wallets held by fraudsters, involving over 4,600 wallet addresses.The central bank discovered 7,087 financial pyramid schemes, fake brokers, and other fraudulent schemes last year, with 80% operating online, most of which used cryptocurrencies and money mules to transfer funds. In 2025, 84% of fraudsters used cryptocurrencies to raise funds, up from 77% in 2024. The Central Bank of Russia has ordered the blocking of 21,500 related web pages and social media posts.The central bank pointed out that fraudsters choose cryptocurrencies to maintain anonymity and evade punishment, and it has pledged to strengthen monitoring and increase efforts to combat cryptocurrency fraud.

The cryptocurrency research institution 10x Research published an analysis on the X platform, pointing out that Ethereum is at a critical stage of dual testing in terms of valuation and fundamentals. The market needs to determine whether its current slump is a cyclical bottom or if it is facing deeper structural damage.The Ethereum treasury company Bitmine is currently bearing a paper loss of about $8.8 billion, exceeding the loss scale of approximately $8 billion experienced by clients at the initial stage of the FTX collapse. The company's significant accumulation of ETH amid weakening demand and ETH prices approaching April 2021 levels has further intensified market controversy. This comparison highlights the potential for significant divergence in capital allocation outcomes and how timing and governance decisions determine the ultimate attribution of long-term value creation.Ethereum's current trading price is nearing a critical valuation and cost range, and its core value proposition is facing structural scrutiny. Investors need to carefully assess whether Ethereum is indeed in a cyclical trough or is entering a deeper stage of structural damage.

According to CNBC, Wells Fargo stated that some taxpayers may receive larger refunds this year compared to previous years, which could drive funds into risk assets such as stocks and Bitcoin. This is due to provisions in the Inflation Reduction Act passed last summer that are favorable to taxpayers in 2025.Additionally, the IRS did not update its withholding tax tables last year, so wage earners are less likely to face surprises from adjustments to taxes already withheld.Wells Fargo noted in its latest analyst report that these factors could lead to as much as $150 billion flowing into the market by the end of March, as over 60% of refunds are issued.The bank's analysts added that the expected liquidity injection could boost Bitcoin as well as stocks favored by retail investors, such as Boeing and Robinhood. Wells Fargo analyst Ohsung Kwon stated in a report on Sunday, "We believe the additional savings from tax refunds—especially for high-income consumers—will flow back into the stock market.""Increased savings will drive speculative sentiment... We expect the 'YOLO' mentality to return." The analysts pointed out that Bitcoin could serve as a proxy indicator for liquidity, signaling a shift in investment patterns. According to Wells Fargo data, domestic liquidity has decreased by $105 billion over the past four weeks, while Bitcoin has retraced about 29% in the past month.

According to MLM monitoring, wallets associated with Multicoin Capital are converting a large amount of ETH into HYPE:Since January 22, the related wallets have transferred 87,100 ETH, worth approximately $220 million, to a deposit address associated with Galaxy Digital linked to Multicoin. On January 23, the day after the first transfer, a wallet associated with Multicoin began receiving HYPE from Galaxy.Related addresses:ETH Address: 0xfe188cA6FAf02b1Aa88d4AEF21f7de5D4ba64A70HYPE Address: 0xd4d56a30a4a745f8ba732e8b453b7066260fbc10The first large transfer occurred on January 26, when Multicoin received 465,000 HYPE (approximately $16 million). In the following 5 days, they received about 990,000 HYPE (approximately $30.6 million) from Galaxy. No other on-chain transfers of similar scale have been found so far, but it cannot be ruled out that more will appear in the coming days.Of course, it is not 100% certain, but based on the timing and on-chain associations, there is already sufficient basis to share this judgment. MLM stated, "Previously, we were not aware that they held such a large amount of ETH. If the judgment is incorrect, I am willing to delete this content."

According to Jinshi, U.S. President Trump earlier signaled a depreciation of the dollar, leading to a massive stop-loss in the euro against the dollar (EUR/USD), which briefly broke the 1.2 level and rose to 1.2068. This is the first time since June 2021. Trump has long hinted at supporting a weaker dollar to enhance export competitiveness.

According to Jinshi, U.S. President Trump stated that if Europe sells off U.S. bonds and other assets, it will face massive retaliation.

According to Finbold, macroeconomist Henrik Zeberg posted on the X platform that the Federal Reserve has over 400 PhD economists but still missed obvious and insightful economic patterns. He stated that we are heading towards a massive economic recession, and despite the Federal Reserve having ample resources, it remains oblivious to this.Zeberg emphasized that understanding the correct sequence of events in the business cycle is crucial for predicting economic recessions, and the Federal Reserve's current expectations underestimate the severity and timing of the impending economic downturn.The report states that he believes the unemployment rate has already risen before every major economic recession and remains a "never-fail" indicator. The U.S. unemployment rate reached 4.6% in November, the highest level in four years, approaching the recession threshold set by the Sam Rule, and raising the likelihood of an economic recession to about 40%.

According to official news, MEXC has teamed up with ETHFI to launch a carnival event, featuring trading, staking, and a lottery, with rewards of up to $1,000,000. Users can enjoy zero-fee trading, earn up to 200% APR, and unlock more surprise rewards by participating.Event time: December 15, 2025, 18:00 (UTC+8) -- January 14, 2026, 18:00 (UTC+8).

Camp Network recently officially released its "Origin White Paper," proposing a solution aimed at addressing the challenges of massive IP management in the AI era. The core of this solution lies in utilizing blockchain technology to achieve the registration, licensing, confirmation, and monetization of billions of IP assets at machine speed.Camp Network stated that as the number of AI-generated and interactive IPs is expected to reach the hundreds of millions, the infrastructure capable of efficiently handling authorization and payment processes has become crucial, aiming to become the "Visa" or "Stripe" in the field of IP licensing.The project team emphasized that despite facing challenges in the current market environment, they remain committed to advancing development according to the roadmap, thereby proving that the current value of their ecosystem token $CAMP is underestimated by the market.

Trading StrategyIn-depth investigation reveals that the fundamental reason for the de-pegging of Stream XUSD is not the Balancer hacking incident, but rather the failure of the Delta neutral strategy during the historic liquidation on October 11.Although Stream claims to adopt a Delta neutral hedging strategy (1:1 configuration of spot and short positions), during the extreme volatility on October 11, the exchange's automatic deleveraging (ADL) system forcibly liquidated its positions, breaking the original hedging balance. This led to a direct loss of Stream's principal, which in turn triggered the de-pegging of XUSD.Underlying issues include: a severe lack of transparency (only $150 million out of $500 million TVL visible on-chain), high-risk off-chain trading strategies (including selling volatility strategies), and excessive leverage (recursive borrowing through Elixir). Analysis indicates that Stream is merely one of the first victims to surface.Given that October 11 was an unprecedented extreme liquidation event, it is expected that more DeFi projects will face similar issues in the future, highlighting the urgent need for stricter risk transparency standards in the crypto market.

ChainCatcher news, Crypto.com CEO Kris posted on the X platform stating that regulators should investigate exchanges that experienced large-scale liquidations in the past 24 hours and conduct a thorough review of the fairness of their actions.The review should include: whether the trading system experienced outages or delays that prevented users from trading, whether all trade pricing was consistent with the index, the setup of trading monitoring and anti-money laundering (AML) mechanisms, and whether the internal trading team was effectively isolated.He pointed out that the $20 billion in liquidations harmed a large number of users, and it is the responsibility of regulators to protect consumers and ensure market integrity.

ChainCatcher news, according to The New York Times, two Democratic senators from the United States have requested the inspectors general of the Department of Commerce and the State Department to investigate whether officials from the Trump administration violated ethical standards in two multi-billion dollar deals involving the United Arab Emirates.One of the deals involves a U.S. plan to allow the UAE to import American-designed artificial intelligence chips. The other deal involves a company backed by the UAE government transferring $2 billion to a cryptocurrency company created by the Trump family and one of its advisors, Steve Witkoff. In the first six months of this year, Witkoff served officially as a State Department employee before being reassigned to the White House.Massachusetts Democratic Senator Elizabeth Warren and Michigan Democratic Senator Elissa Slotkin wrote in a letter to the acting inspectors general of the State Department and the Department of Commerce, as well as the government ethics office: "The pattern of these transactions is extremely concerning."

ChainCatcher message, Arthur Hayes forwarded an analysis article titled "The Sword of Damocles of HYPE" and stated, "This is the reason for today's sell-off of 96,600 HYPE. But don't worry, a 126-fold increase is still possible; 2028 is still far away."The analysis mentioned that HYPE is about to face its real test. Starting from November 29, 2025, 237.8 million HYPE tokens will begin to unlock linearly over 24 months. At a price of $50 per token, this amounts to $11.9 billion in team unlock value, with nearly $500 million worth of tokens entering the market each month. The analysis pointed out that the current buyback capacity can only absorb about 17% of the unlocked tokens, leaving an excess supply of about $410 million per month. The token unlock is a potential "Sword of Damocles."This morning, Arthur Hayes sold 96,600 HYPE, worth $5.1 million. Just three weeks ago, he predicted that the price of HYPE could rise 126 times in the coming years.