Crypto Morning Brief: Coinbase Launches Stock Trading and Prediction Market Services, Binance Explores Relaunch of Binance.US

深潮Publicado a 2025-12-18Actualizado a 2025-12-18

Resumen

**Crypto Morning Brief** Key market movements include BTC dropping below $86,000 and ETH falling under $2,800. Federal Reserve Governor Waller signaled that the weak job market supports the case for continued interest rate cuts. Major exchange developments are a central theme. **Coinbase** significantly expanded its services, launching stock trading with zero commissions, 24/5 availability, and a partnership with prediction market provider Kalshi. It also introduced AI-driven wealth management and business services. Meanwhile, **Binance** is reportedly exploring options to restart its US operations, Binance.US, which could involve a capital restructuring to reduce founder CZ's ownership stake. In other news, **Tether** launched a peer-to-peer password manager called PearPass, emphasizing enhanced security by avoiding cloud storage. **SBI Ripple Asia** announced plans to launch an XRP-based yield product and explore real-world asset tokenization on the XRP Ledger. Binance Wallet introduced a new on-chain lending feature, and Bitcoin treasury company Metaplanet received support for its management proposals from Norway's sovereign wealth fund. On the regulatory and corporate front, crypto VC firm **Shima Capital** is shutting down following SEC fraud charges against its founder, who has agreed to a settlement. Bitcoin miner **Hut 8** signed a $7 billion data center lease agreement.

Author: Deep Tide TechFlow

Yesterday's Market Dynamics

BTC Drops Below $86,000 This Morning, ETH Falls Below $2,800

HTX market data shows that BTC dropped below $86,000 this morning and is currently trading at $86,132; ETH fell below $2,800 and is now at $2,831.

Waller: Job Market Indicates Fed Should Continue Cutting Rates

According to a report by Jinshi, Federal Reserve Governor Waller stated that inflation is above target but should decline in the coming months, and inflation expectations are well anchored. The current job market is very weak, and the existing job growth is not ideal; the job market indicates that the Fed should continue to cut interest rates.

Waller also mentioned that 2026 could be a better year for economic performance.

Coinbase Launches Stock Trading and Prediction Market Services

According to a report by CoinDesk, U.S.-listed cryptocurrency exchange Coinbase announced a major expansion of its platform's asset range during its System Update event on December 18th. The new services include stock trading, prediction markets, new cryptocurrencies, and perpetual futures, among others, aiming to solidify its market position as an "all-in-one exchange."

Coinbase will initially launch stock trading services for hundreds of stocks based on market capitalization and trading volume, with plans to add thousands more stocks and ETFs in the coming months. Users can enjoy zero-commission trading without the constraints of traditional market hours, trading 24 hours a day, five days a week. Additionally, Coinbase has partnered with prediction market provider Kalshi, valued at $11 billion, allowing users to trade on the outcomes of real-world events such as elections, sports, collectibles, and economic indicators.

Simultaneously, Coinbase also launched the AI-driven wealth management tool Coinbase Advisor and the business service Coinbase Business for startups, further expanding its business scope. Company executives stated that these new features will be supported by the Coinbase Tokenize platform, an end-to-end institutional-grade platform designed for tokenizing real-world assets.

Bloomberg: Binance Exploring Relaunch of Binance.US

According to a report by Bloomberg, Binance founder CZ is reasserting his influence in the crypto industry. As U.S. President Trump's stance on crypto assets becomes more friendly, CZ has frequently publicly affirmed related policies and signaled a positive outlook for the U.S. market.

Informed sources indicated that Binance has been exploring plans to relaunch Binance.US, including a possible recapitalization that would reduce CZ's controlling stake. The sources also mentioned that if Binance acquires part or all of CZ's shares, it could appoint new leadership, implement growth-oriented business strategies, and leverage its political connections in Washington.

Separately, informed sources revealed that Binance has been seeking closer cooperation with the world's largest asset management company, BlackRock.

Tether Launches Peer-to-Peer Password Manager PearPass

According to an official announcement, stable币 giant Tether has officially launched PearPass, a peer-to-peer (P2P) password manager designed to eliminate the risk of users' encrypted information being leaked via the cloud.

Tether stated that existing password management tools generally rely on cloud storage, and once cloud services are breached, users' sensitive data could be exposed. PearPass adopts a decentralized peer-to-peer architecture, not storing passwords in the cloud, thereby enhancing security and privacy. The official announcement noted that the product will first support mainstream browsers, with plans to expand to mobile and more platforms. This move reflects the crypto industry's continued focus on innovating user security tools.

SBI Ripple Asia to Launch XRP-Based Yield Product

According to a report by CoinDesk, Ripple's Asian venture SBI Ripple Asia announced the signing of a memorandum of understanding with Doppler Finance to launch an XRP-based yield product and explore real-world asset tokenization on the XRP Ledger. It is reported that SBI Digital Markets, regulated by the Monetary Authority of Singapore, has been designated as the institutional custodian for related products and will provide segregated custody services for client assets.

Hyper Foundation Proposes Permanent Burn of HYPE Tokens in Assistance Fund

Hyper Foundation has formally proposed a validator vote to confirm that the HYPE tokens in the Assistance Fund are considered burned, permanently removing these tokens from circulation and the total supply. The Assistance Fund, as part of the L1 execution, automatically converts transaction fees into HYPE through the system address 0xfefefefefefefefefefefefefefefefefefefefe. This address is similar to a zero address and has never had a private key; the funds within it cannot be retrieved without a hard fork.

A "Yes" vote means validators agree to treat the HYPE in the Assistance Fund as burned and commit to never authorizing any protocol upgrade that could access this address. Voting will take place on the governance forum before 04:00 UTC on December 21st. Users can stake to support validators aligned with their views before 04:00 UTC on December 24th. The final result will be based on the staking-weighted consensus as of that time.

Binance Wallet Introduces Web3 Loan On-Chain Lending Feature

According to an official announcement, Binance Wallet has launched a new Web3 Loan on-chain lending feature, allowing users to directly use existing assets as collateral within the Binance Wallet to borrow crypto assets, expanding the on-chain lending experience. This feature is implemented by integrating with the Venus protocol on the BNB Chain, enabling multi-asset collateral and borrowing. It currently supports collateral in mainstream assets including BTCB, ETH, USDT, USDC, FDUSD, WETH, and allows borrowing of USDT, USDC, and BNB. Binance Wallet stated that it will launch an exclusive Venus reward activity based on this lending feature. Users borrowing eligible assets can share a 400,000 USDT reward pool and enjoy preferential interest rates, aiming to enhance liquidity and yield potential for on-chain wealth management and lending services within the wallet.

He Yi: Offering Reward for Criminal Evidence Related to 'Listing Agent' Fraudsters

Binance Co-CEO He Yi posted a message offering a reward for criminal evidence related to fraudsters involved in 'listing agent' schemes.

Norwegian Sovereign Wealth Fund Supports All Management Proposals at Metaplanet Shareholder Meeting

According to Bitcoin Magazine citing a Bloomberg Automation summary, the Norwegian sovereign wealth fund management agency Norges Bank Investment Management (NBIM) has expressed support for several management proposals from Bitcoin treasury company Metaplanet and will exercise its voting rights at the shareholder meeting on December 22nd. Data shows that as of the end of June 2025, NBIM holds approximately 0.3% of Metaplanet's shares. The Norwegian sovereign fund's series of moves to increase its Bitcoin exposure through public market asset allocation reflects sovereign-level long-term capital's recognition of the company's strategic direction.

Informed Sources: Crypto VC Firm Shima Capital Quietly Winding Down Operations

According to informed sources disclosed by Kate Irwin, cryptocurrency venture capital firm Shima Capital is quietly winding down its business operations. Three weeks ago, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against the company and its founder, Yida Gao, accusing them of "participating in a fraudulent scheme" to deceive investors. According to an email sent to portfolio company founders, Yida Gao is resigning and closing the fund. In the email, he stated: "I deeply regret my poor decisions and apologize for letting everyone down."

Shima Capital was founded in 2021 with $200 million in capital and had invested in several crypto projects including Berachain, Monad, and Pudgy Penguins. The SEC accused Yida Gao of exaggerating investment returns in promotional materials, claiming a 90x return on an investment that actually only yielded 2.8x. Furthermore, Fortune magazine reported that Yida Gao transferred investment funds to offshore entities wholly owned by himself without disclosing this to investors.

The day after the SEC filed the lawsuit, Yida Gao agreed to pay a settlement of approximately $4 million.

Miner Hut 8 Signs $7 Billion Data Center Lease Agreement

Bitcoin miner Hut 8 announced on platform X that it has signed a 15-year data center lease agreement worth $7 billion with Fluidstack for its 245-megawatt data center at the River Bend campus. Additionally, Fluidstack can add up to an additional 1,000 megawatts of capacity in future expansion phases of the campus, with specific terms dependent on the campus's installed capacity.

Market Dynamics

Preguntas relacionadas

QWhat new services did Coinbase announce during its System Update event on December 18th?

ACoinbase announced the expansion of its platform to include stock trading, prediction markets, new cryptocurrencies, and perpetual futures. It will first offer hundreds of stocks for trading with zero commissions and 24/5 availability, and it partnered with prediction market provider Kalshi.

QAccording to Bloomberg, what is Binance exploring regarding its US operations?

ABinance is exploring options to restart Binance.US, which could involve a recapitalization that would reduce founder CZ's controlling stake. The company is also reportedly seeking a closer partnership with asset management giant BlackRock.

QWhat is the main security feature of Tether's new password manager, PearPass?

APearPass is a peer-to-peer (P2P) password manager that enhances security and privacy by not storing passwords in the cloud, eliminating the risk of data exposure from a breach of cloud services.

QWhat did the Hyper Foundation propose regarding the HYPE tokens in its Assistance Fund?

AThe Hyper Foundation proposed a validator vote to confirm that the HYPE tokens in the Assistance Fund should be considered permanently burned, thus removing them from circulation and the total supply forever.

QWhat significant deal did bitcoin miner Hut 8 sign, as announced on their X platform?

AHut 8 signed a 15-year, $7 billion data center leasing agreement with Fluidstack for a 245-megawatt facility, with the potential for an additional 1,000 megawatts in future expansion phases.

Lecturas Relacionadas

Understanding Hash in One Article: The "Browser Miner" on Ethereum

Hash is an Ethereum-based ERC-20 token described as a "browser-minable post-quantum token." Its key features include enabling browser-based GPU mining without specialized hardware, a fixed supply cap of 21 million tokens, immutable and permissionless smart contracts with no team allocation or pre-mining, and an emphasis on post-quantum security using Keccak256 hashing. The mining mechanism is a simplified on-chain proof-of-work where miners solve unique challenges tied to their wallet address. Key design elements prevent answer theft, with epochs resetting every 100 blocks (~20 minutes) and a per-block minting limit. Emission follows a Bitcoin-like halving schedule every 100,000 mints, starting at 100 tokens per mint. Projections suggest all tokens could be mined within approximately 294 days if a target rate of one mint per minute is sustained. Hash emphasizes "post-quantum" security by leveraging hash-based primitives like Keccak256, which are considered more resistant to quantum attacks compared to elliptic-curve cryptography. While not a fully post-quantum asset, it aligns with Ethereum's broader post-quantum research narrative. The project completed its Genesis sale at $0.03 and began trading on Uniswap, with its price reaching around $0.19. The initial circulating supply is small, with 5% sold in Genesis and 5% allocated to liquidity. The majority (47.6% of total supply) is allocated to early-stage mining, leading to a front-loaded emission schedule. This structure, combined with low initial liquidity, makes Hash a high-volatility, high-risk project dependent on sustained miner participation and market demand to absorb new supply.

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OpenAI's Largest Internal Wealth Creation: 600 People Cash Out a Total of $6.6 Billion, 75 Take Home the Maximum $30 Million Each

A Wall Street Journal report reveals OpenAI's unprecedented pre-IPO wealth creation. In a single employee stock sale last October, over 600 current and former employees sold shares, collectively cashing out approximately $6.6 billion. Due to high investor demand, the company tripled the individual sale cap to $30 million, with about 75 employees selling the maximum amount. This event represents the largest such transaction in tech industry history for a private company. OpenAI's valuation was $500 billion for this tender offer. Employees with over two years of tenure were eligible, allowing many post-ChatGPT hires their first liquidity event. The company's stock has reportedly grown over 100-fold in seven years. Following a restructuring, employees collectively hold about 26% of OpenAI. The scale of executive wealth is also staggering. In court testimony related to Elon Musk's lawsuit, President and co-founder Greg Brockman confirmed his OpenAI stake is worth around $30 billion. Analysis indicates about 165 current and former employees hold a combined ~$164.9 billion in equity, averaging nearly $1 billion per person in paper wealth. OpenAI's per-employee stock-based compensation is estimated to be 34 times the average of major tech firms before their IPOs. OpenAI continues its rapid ascent, closing a $122 billion funding round at an $852 billion valuation in March. With monthly revenue hitting $2 billion, over 900 million weekly ChatGPT users, and plans for a potential trillion-dollar IPO in late 2026, this wealth-creation engine shows no signs of stopping.

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An In-Depth Analysis of the Reasons Behind the Recent Surge in the Memory Storage Industry

"Understanding the Recent Boom in the Memory Industry" summarizes the key structural shift in the memory sector driven by AI. Traditionally, the memory industry (DRAM, NAND) has been highly cyclical, with prices driven by inventory cycles and consumer electronics demand, which can be deferred. However, AI has fundamentally changed the demand structure. AI workloads create continuous, non-deferrable demand for high-bandwidth memory (HBM) due to GPU memory bottlenecks. This high-margin HBM production is prioritized by major manufacturers like Samsung, SK hynix, and Micron, structurally reducing the supply of traditional DRAM and NAND. Consequently, the market is transitioning from a spot-based model to a contract-based allocation system. HBM supply is reportedly booked through 2026, leading to spot shortages and sharp price increases for other memory types. Delivery lead times have also extended dramatically. Pricing power is shifting from the open market to those with long-term contracts. Primary beneficiaries are HBM-leading suppliers and large hyperscalers (Microsoft, AWS, Google) that can lock in future supply. Key risks to this "AI supercycle" include a potential slowdown in AI capital expenditure, disruptive new memory architectures, or a return to aggressive industry capacity expansion, which could reintroduce cyclicality.

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BlackRock Expands Tokenized Finance Push With New Treasury Fund Filings

BlackRock, the world's largest asset manager, has intensified its push into tokenized finance by filing with the SEC to create a new fund. Named the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle, the proposed fund would invest in cash, U.S. Treasuries, and repurchase agreements. It would issue "OnChain Shares" using a permissioned system linked to public blockchains, with Securitize Transfer Agent LLC maintaining ownership records. In a separate move, BlackRock also filed to establish an onchain share class for its existing BlackRock Select Treasury Based Liquidity Fund. For this, the transfer agent BNY Mellon outlined plans to use Ethereum's ERC-20 standards, combining blockchain data with offchain identification. These filings represent a significant expansion into tokenization, the process of creating digital tokens for traditional assets like funds. Advocates believe this technology can enhance transparency, enable 24/7 trading, and speed up settlement times.

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BlackRock Expands Tokenized Finance Push With New Treasury Fund Filings

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Understanding CPO (Co-Packaged Optics) in One Article: Why Nvidia Is Willing to Spend $3.2 Billion on a Fiber?

NVIDIA and Corning announced a multi-year strategic partnership on May 6, 2026, with NVIDIA committing up to $3.2 billion to support Corning's U.S. expansion. This investment will triple Corning's manufacturing plants and significantly boost its optical fiber and communications production capacity. The core driver behind this massive investment is the fundamental shift from copper to optical interconnect technology within AI data centers. As GPU clusters scale, copper wires face critical limitations: severe signal attenuation over distance, high energy consumption for signal integrity, and excessive heat generation. Optical fiber, transmitting light instead of electrical signals, solves these issues with minimal loss, near-light speed, and lower power needs. The article outlines a three-stage evolution of data center interconnect: 1. **Traditional Copper Interconnects:** The mainstream solution of the 2010s, now being phased out due to scaling bottlenecks. 2. **Pluggable Optical Modules:** The current mainstream, where modules convert electrical signals to light externally. This process still introduces energy loss and latency. 3. **CPO (Co-Packaged Optics):** The next-generation technology where the optical engine is integrated directly with the GPU chip package. This drastically reduces the electrical signal travel distance to mere millimeters, slashing power consumption and latency while boosting data density. NVIDIA CEO Jensen Huang has identified CPO as an essential core technology for AI infrastructure. NVIDIA's investment signifies a strategic shift from being a buyer to actively controlling its supply chain for critical components. With demand for specialized optical fiber far outstripping supply—evidenced by soaring prices—securing long-term manufacturing capacity has become a competitive necessity. While Corning's expansion may pressure some suppliers, a projected global fiber supply gap of 5-15% over the next few years creates a significant opportunity window, particularly for Chinese manufacturers competitive in optical preforms, chips, and modules. Ultimately, NVIDIA's move is not about chasing a trend but an engineering imperative. The transition to light-based interconnects like CPO is driven by the physical limits of copper, marking a definitive step in the ongoing AI computing revolution.

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