December 5th: Social media platform "X" was fined 120 million euros by the European Union for violating content regulations. The European Commission stated that the X company violated 3 provisions of the Digital Services Act and gave X 60 days to provide a solution and 90 days to implement corrective measures.The EU's ruling targeted X's blue checkmark verification, lack of ad transparency, and issues with data access by researchers. The EU's tech regulator stated that imposing the maximum fine on X was not the EU's intention. The amount of the fine was deemed appropriate based on the nature of the violation and its impact on EU users. (Jinse)

December 5th, according to EmberCN monitoring, a whale address borrowed and shorted 5,000 ETH ($15.66 million) in the past 2 hours.This address borrowed 5,000 ETH ($15.66 million) from Aave 2 hours ago, then transferred 4,000 ETH ($12.49 million) to Binance and 1,044 ETH ($3.26 million) to Bybit.After the ETH was sent to a centralized exchange (CEX), 40 minutes ago, 12.45 million USDT was withdrawn from Binance, equivalent to the value of the 4,000 ETH transferred to Binance, indicating a highly probable sell-off according to analysis.

December 5th, the China Internet Finance Association today jointly issued the latest risk warning on preventing illegal activities related to virtual currencies with multiple departments. This marks the first cryptocurrency risk warning since 2022, with a three-year gap. Looking back over the past five years, the Internet Finance Association has issued four heavyweight announcements in succession at key points in market speculation.On April 13, 2022, it released the "Initiative to Prevent Financial Risks Related to NFTs," resolutely curbing the financialization and securitization trends of NFTs. It explicitly prohibits using virtual currencies such as Bitcoin as the pricing and settlement tool for NFT issuance and transactions, and prohibits providing financing support for NFT transactions. The document quickly cooled down the domestic "digital collectibles" market. Leading platforms such as Tencent Fantech and Alibaba Whale Hunt subsequently tightened their gifting rules, and a large number of small and medium-sized collection platforms closed down due to liquidity exhaustion, leading to the bursting of the domestic NFT speculation bubble.On May 18, 2021, it issued the "Notice on Preventing Risks of Speculative Trading in Virtual Currencies," reiterating that virtual currency transactions are not protected by law. It required financial institutions and payment institutions not to engage in virtual currency-related businesses such as account opening, registration, trading, clearing, and settlement. The day after the announcement was issued (May 19, 2021), market panic spread, and Bitcoin's price plunged by more than 30% in a single day, breaking below the $30,000 mark from above $43,000, setting a historical record for total liquidation across the network.On April 2, 2020, it issued the "Risk Warning on Participating in Speculative Trading on Overseas Virtual Currency Exchanges," pointing out that overseas platforms are not only not protected by Chinese law, but also commonly engage in market manipulation activities such as fabricated trading data and intentional outages. This document marked an increase in regulatory attention to "offshore" exchanges. Subsequently, the crackdown on OTC (over-the-counter) fund channels for virtual currencies in China significantly intensified, leading to a widespread "freeze card" phenomenon.

December 5th, Today, the China Internet Finance Association and seven other associations jointly released the "Risk Reminder on Preventing Illegal Activities Related to Virtual Currency." According to the reminder, virtual currency cannot be used as currency for circulation within China, and China's financial regulatory authorities have not approved any real-world asset tokenization activities. Relevant institutions are not allowed to engage in businesses related to virtual currency or real-world asset tokenization.Previously, on April 13, 2022, the China Internet Finance Association jointly issued the "Initiative to Prevent NFT-Related Financial Risks," resolutely restraining the trend of financializing and securitizing NFTs, strictly preventing the risk of illegal financial activities, and voluntarily complying with behavioral norms. The joint appeal to member units: do not directly or indirectly invest in NFTs, do not provide financing support for investing in NFTs, do not weaken the non-fungible characteristics of NFTs through methods such as ownership splitting or batch creation, and do not engage in token issuance financing (ICO) in a disguised manner. Do not include securities, insurance, credit, precious metals, or other financial assets in the underlying commodities of NFTs, and do not issue transactional financial products in a disguised manner.After the NFT market gradually cooled off since March of that year, it entered a bear market, and the FTX crash event in November of that year further drained funds and market confidence from the bear market. The NFT market's heat has waned year after year, and its development has gradually become lukewarm until it has been relatively ignored.

December 5th. Recently, the concept related to cryptocurrency has been heating up rapidly. Some criminals have taken the opportunity to promote speculative trading activities, engaging in illegal fundraising, pyramid schemes, and other illegal activities under the guise of stablecoins, memecoins (such as π coin), real-world asset (RWA) tokens, and "mining," and have used cryptocurrency to transfer illegally obtained proceeds, seriously infringing on the public's property security and disrupting the normal order of the economy and finance.To further implement the requirements of the announcements on preventing the risks of token issuance financing and preventing and disposing of the risks of cryptocurrency trading speculation issued by the People's Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, and other departments, and to implement the spirit of the coordination meeting on cracking down on cryptocurrency trading speculation, the China Internet Finance Association, China Banking Association, China Securities Association, China Securities Investment Fund Association, China Futures Association, China Association of Listed Companies, and China Payment and Clearing Association jointly issue the following risk reminders:1. Correctly understand the nature and attributes of cryptocurrency, real-world asset tokens, and related activitiesRegulatory authorities emphasize that cryptocurrency does not have legal tender status and cannot circulate for use domestically. "Air coins" such as π coin have insufficient technology and value support, leading to frequent scams; stablecoins pose a high risk of being used for money laundering, fraud, and illicit cross-border fund transfers. Real-world asset tokenization (RWA Token) also carries risks such as false assets and speculative trading, and no such projects have been approved domestically. Domestic organizations or individuals engaging in related activities may be suspected of illegal token ticket sales, illegal fundraising, or unauthorized public issuance of securities.2. Relevant institutions must not engage in businesses related to cryptocurrency and real-world asset tokensMember units must not participate in or provide any form of support for cryptocurrency or RWA issuance and trading. Banks and payment institutions must not provide accounts, payment, credit, or other services for related activities; securities, fund, and futures institutions must not provide services for related products; internet platforms must not provide promotion or technical support for related projects. Institutions must strengthen due diligence, and any discovered risk clues must be reported promptly.3. The public must remain highly vigilant of all forms of cryptocurrency and real-world asset token business activitiesGiven the high volatility and frequent scams in the cryptocurrency market, the public must enhance their risk awareness, avoid participating in any form of cryptocurrency or RWA trading, promotion, or "mining" projects, and beware of false advertising or investment group inducement. Any clues of suspected illegal activities should be actively reported to regulatory authorities or reported to public security agencies.

December 2nd, Anthropic's latest research shows that AI Agents possess significant on-chain attack capabilities: in a simulation test on truly exploited smart contracts from 2020 to 2025, Claude Opus 4.5, Sonnet 4.5, and GPT-5 together reproduced vulnerabilities worth approximately $4.6 million; while scanning 2849 contracts with no known vulnerabilities, the two models also discovered 2 entirely new zero-day vulnerabilities and successfully simulated profit.The research points out that the on-chain attack returns of AI have doubled approximately every 1.3 months over the past year, and it has already fully developed the autonomous, profitable vulnerability exploitation capability.

December 2nd, "Fed Whisperer" Nick Timiraos published a column discussing Trump's nomination of the new Fed Chair. The article states that the final candidate for the new Fed Chair has met with Powell. Sources revealed that they will begin meeting with Mnuchin and other White House staff this week before meeting with Trump. Powell has indicated that Trump may announce the nominee before Christmas.While Trump has said he has made a decision and all indications point to Hassett as his top choice, those following the process note that he could change his mind. According to sources, last week Trump was also discussing with allies who should serve as the next Fed Chair. The source said Trump urged allies to articulate reasons for supporting Hassett or Warsh.Someone told Trump that Warsh does not have as close a professional relationship with the President as Hassett does and also pointed out that if Trump chooses Hassett, he will lose Hassett's seat on the National Economic Council, a source said.

December 2nd, according to Miner Weekly, Bitcoin miners are currently facing the most challenging profit environment in history. The significant price drop of Bitcoin in November has led to a decline in mining revenue per unit of hash power from around $55/PH/s in the third quarter to around $35/PH/s, below the average all-in cost of major publicly traded mining rigs at $44/PH/s.With the network hash rate approaching 1.1 ZH/s, the cost per hash reflects the actual earnings under the current mining difficulty. Even with the latest mining rigs, the payback period exceeds 1000 days, much longer than the approximately 850 days before the next halving.

December 2nd: According to the latest data from F2Pool, with the network difficulty remaining high and electricity cost estimated at $0.06 per kWh, several older models of Bitcoin miners have fallen below their shutdown price and entered a state of unprofitability. Models such as Antminer S19, S19j, S19 Pro, S17 series, Avalon A12/A13 series, and Whatsminer M20/M30 series have their shutdown price mostly around $90,000 to $100,000 or even higher. Their current daily net income is negative, nearing the shutdown threshold.In contrast, the new generation of high-efficiency liquid-cooled models has shown more resilience. Data shows that the shutdown price for Antminer S23 Hyd. is about $32,200 and is still in a profitable state. Models like S21 XP Hyd. have a shutdown price ranging from $40,000 to $50,000, indicating significantly better risk resistance compared to air-cooled models. Industry insiders point out that as the difficulty rises and the efficiency gap widens, this cycle is accelerating the stratification of miners into "new and old," with outdated models having increasingly limited profitability in the current market environment.

December 2, according to official sources, during the period from 10:00 on November 28, 2025, to 8:00 on December 15, 2025 (UTC+8), OKX users participated in a new coin contract trading competition involving TRUTH, JCT, PIEVERSE, BEAT, SAPIEN. Based on the total contract trading volume ranking, they could share a prize pool of 120,000 USDT.The current event is in full swing. According to official data, the current number of participants has reached 48,884, with a total trading volume of 108,242,439 USDT.