Crypto Market Rebounds Across the Board, Bitcoin Rises Back Above $94,500, US Stock Crypto Concept Stocks Close Higher Across the Board
Mars Finance News, December 10 - According to market information, the crypto market has rebounded across the board. Bitcoin rose back above $94,500 this morning and is currently trading at $92,900, with a 24-hour gain of 2.48%. Ethereum once approached $3,400 and is now at $3,332, with a 24-hour gain of 6.69%. The total market capitalization of the crypto market rose to $3.263 trillion, a 24-hour increase of 2.7%. Some altcoins led the gains, including: ZEN up 19.11% in 24 hours; LUNA up 18.22% in 24 hours; AXL up 17.88% in 24 hours; HYPER up 14.78% in 24 hours; WIF up 12.89% in 24 hours. In terms of US stock market performance, the three major indices closed mixed on Tuesday, with the Dow Jones Industrial Average down 0.37% initially, the S&P 500 down 0.09%, and the Nasdaq up 0.1%. US stock crypto concept stocks rose across the board, with Ethereum crypto treasury (DAT) companies leading the gains: Strategy (MSTR) up 2.89%; Circle (CRCL) up 5.93%; Coinbase (COIN) up 1.15%; MARA Holdings (MARA) up 1.66%; Riot Platforms (RIOT) up 3.68%; BitMine Immersion (BMNR) up 9.32%; SharpLink Gaming (SBET) up 4.88%.
'CLARITY Act' Draft Expected to Be Released This Week, Hearing and Vote Scheduled for Next Week
Mars Finance News, December 10 - New York Democratic Senator Kirsten Gillibrand and Wyoming Republican Senator Cynthia Lummis outlined the direction the US Congress is heading towards in comprehensively regulating the cryptocurrency industry at the Blockchain Association's Policy Summit in Washington, D.C. Cynthia Lummis stated that the goal is to release the draft of the 'CLARITY Act' (market structure bill) by the end of this week, hold a hearing next week, amend the bill, and vote. Democrats and Republicans are continuing negotiations, with the first bipartisan meeting held last week proceeding very smoothly. "Nothing is holding up this bill." The US Congress has been trying to push for a broader cryptocurrency market structure bill for years, but progress has been slow. This summer, the House of Representatives passed its version of the 'Digital Asset Market Clarity Act' (referred to as Clarity) in July, bringing new momentum to the legislation. The Senate has since also begun advancing similar bills. The Senate Banking Committee already has a draft aiming to clarify the division of regulatory authority between the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) and create a new term "ancillary assets" to clarify which cryptocurrencies are not securities. Meanwhile, the Senate Agriculture Committee also released its draft last month, proposing to grant the CFTC more new powers.
SEC Chairman: Many Types of Cryptocurrency ICOs Are Not Under SEC's Jurisdiction
Mars Finance News, according to The Block - US Securities and Exchange Commission (SEC) Chairman Paul Atkins stated at the Blockchain Association's annual policy summit on Tuesday that many types of Initial Coin Offerings (ICOs) should be considered non-securities transactions and are not under the jurisdiction of the Wall Street regulator. He explained that this is exactly what the SEC wants to encourage; by their definition, such things do not fall into the securities category. Atkins specifically mentioned the token taxonomy he introduced last month, which divides the crypto industry into four major token categories. He pointed out last month that three of these categories—network tokens, digital collectibles, and digital tools—should not inherently be considered securities. On Tuesday, he further stated that ICOs involving these three types of tokens should also be considered non-securities transactions, meaning they are not regulated by the SEC. Atkins also mentioned that, regarding ICOs, the only token category the SEC believes its agency should regulate is tokenized securities, which are tokenized forms of securities already under SEC regulation and traded on-chain. He further explained that ICOs span four themes, with three of these areas falling under the jurisdiction of the US CFTC; the SEC would let the CFTC handle related matters, while it focuses on regulating tokenized securities.
"1011 Insider Whale" Holds $268 Million ETH Long Position, Currently Floating Profit of $16.8 Million
Mars Finance News, December 10 - According to Hyperinsight monitoring, the "1011 Insider Whale" currently holds an ETH long position worth $268 million, using 5x leverage, with an entry price of $3,108.49, and a current floating profit of $16.8 million. This whale still has a limit order for a long position worth $63 million at $3,280, planning to further increase its position.
CZ Posts Photo Wearing Trump Limited Edition Bitcoin Sneakers
Mars Finance News, December 10 - Binance founder CZ reposted a photo showing himself wearing the Trump limited edition Bitcoin sneakers "Bitcoin Sneakers" and stated that these shoes were a gift from a friend, and he thinks they are also an NFT. The photo shows CZ wearing the special edition style of Bitcoin sneakers launched by Trump in 2024, featuring an orange-yellow high-top design with the Bitcoin symbol ₿. This limited series of 1000 pairs had an original release price of $499, sold out quickly after pre-sales began on July 31, 2024, and the current secondary market price has doubled to between $700 and $2500.
Musk Says Government Efficiency Department Was "Only Somewhat Successful", States He Would Not Participate in Similar Projects Again
Mars Finance News - Musk stated in an interview with "The Katie Miller Podcast" that the Department of Government Efficiency (DOGE) he once led was "somewhat successful", but if given the choice again, he would not participate in such government affairs, instead dedicating his time to the companies he runs. Musk said the name DOGE originated from a online suggestion, and its essence was a department established to cut government spending. In the interview, he also discussed his brief experience in Washington, US immigration policy, AI, space exploration, and other topics, stating that the government should "do less and do it better". Musk resigned earlier this year due to political controversies sparked by government spending cuts and incidents of Tesla store vandalism in multiple locations, leading to conflicts with the government team, but later repaired his relationship with President Trump.
Coinbase Reminds Users They Need to Complete the STG to ZRO Migration Operation Themselves
Mars Finance News - Coinbase Markets issued a reminder that Stargate Finance (STG) has completed its migration to LayerZero (ZRO), and Coinbase will not perform the relevant asset conversion on behalf of clients. The platform stated that if users wish to convert their held STG to ZRO, they need to complete the operation themselves through a compatible self-custody wallet. Currently, there is no set deadline for the conversion.
SpaceX Plans IPO with $1.5 Trillion Valuation
Mars Finance News - SpaceX is expected to have an IPO valuation of approximately $1.5 trillion, raising well over $30 billion. SpaceX plans to conduct its IPO in mid-to-late 2026, depending on market conditions. SpaceX expects sales of about $15 billion in 2025 and approximately $22 to $24 billion in 2026. SpaceX's IPO plan is expected to be the largest IPO in history.
Strive Launches $500 Million SATA Stock ATM Financing Plan, Portion of Net Proceeds to Be Used for Bitcoin Purchases
Mars Finance News, according to Globenewswire - Bitcoin asset reserve company Strive (Nasdaq: ASST; SATA) announced that it has entered into a sales agreement. Under this agreement, Strive may issue and sell its Series A Variable Rate Perpetual Preferred Stock, with a par value of $0.001 per share (referred to as "SATA Stock"), with a total offering price of up to $500 million (referred to as the "ATM Plan"). Strive intends to use the net proceeds from the ATM Plan for general corporate purposes, including but not limited to: purchasing Bitcoin and Bitcoin-related products, working capital, purchasing income-generating assets to expand the company's business, other capital expenditures, repurchasing the company's Class A common stock, and/or repaying debt. Strive may also use these proceeds to fund the acquisition of businesses, assets, or technologies complementary to its current business.
Yuanyu: Zcash Does Not Enforce Privacy by Default, Balanced Design More Understood by Regulators
Mars Finance News, December 10 - SlowMist founder Yuanyu commented on "Arkham's de-anonymization of over half of Zcash (ZEC) transactions", stating that a high proportion of Zcash transactions being traceable is not news. During the last cycle when privacy coins were hot, Zcash was like this; it does not enforce privacy by default but allows users to choose, for example, addresses starting with 'z' are strongly private, while those starting with 't' are transparent and traceable addresses. This design makes Zcash more understood by regulators compared to privacy coins like Monero (XMR), which enforce strong privacy by default. Currently, Zcash addresses on mainstream platforms almost all start with 't', indicating that the group truly concerned with privacy is very, very small. Catering to regulation is the way out for platforms. Compared to the truly hardcore Monero, Zcash's privacy design is more balanced and may have a broader path.
SEC Chairman: Multiple Types of Cryptocurrency ICOs Are Not Securities Transactions, Will Focus on Regulating Tokenized Securities
Mars Finance News, according to Decrypt - SEC Chairman Paul Atkins stated at the Blockchain Association's annual policy summit that multiple types of ICOs should be considered non-securities transactions and therefore not under SEC regulation. Atkins specifically mentioned the token taxonomy he launched last month, which divides the cryptocurrency industry into four main token categories. He believes that three of these—network tokens, digital collectibles, and digital tools—should not inherently be considered securities, and related ICOs should also be considered non-securities transactions. Atkins said: "Three areas fall under CFTC regulation, we let them handle it, we will focus on tokenized securities." He pointed out that the only ICO category the SEC should regulate is tokenized securities, which are representations of securities already under SEC regulation traded on-chain.
Data: With ETH's Rise in the Early Hours, Jeffrey Huang's ETH Long Position Regains $1.35 Million Floating Profit
Mars Finance News - According to on-chain analyst Yu烬 monitoring, with ETH's rise in the early hours, Machi (Jeffrey Huang)'s ETH long position now has a floating profit of $1.35 million again, after his profits were wiped out and liquidated a few days ago. He rolled his position to go long this time and rode two roller coasters: Started rolling to go long ETH at $2,840 on the 2nd, had a profit of $2.84 million on the 4th. A small correction on the 6th wiped out all profits and led to liquidation. Today's ETH rebound has given his position a floating profit of $1.35 million again.
Musk: Grok 4.20 to Be Released in About Three Weeks, Grok 5 in Several Months
Mars Finance News, December 10 - Musk posted, stating that Grok 4.20 will be released in about three weeks, and Grok 5 will be released in several months. Grok 4.20 is a major update version of the fourth-generation AI model in xAI company's Grok series, making its debut as a "mystery model" on testing platforms like Alpha Arena, performing excellently in stock trading simulations, achieving an average return of 12.11% (up to 47%), with significant improvements in real-time data analysis, financial reasoning, and complex problem-solving. Grok 5 is xAI's next-generation flagship AI model, aiming for a breakthrough at the Artificial General Intelligence (AGI) level, with a parameter scale of 6 trillion (twice that of Grok 4). Musk estimates its probability of achieving AGI at 10% and rising; the model will have "instant learning" capabilities, able to quickly adapt to new tasks through dynamic reinforcement learning.
Trump Begins Final Round of Interviews for Fed Chair Candidate This Week, Says He "Already Has the Right Person in Mind"
Mars Finance News, December 10 - According to Bloomberg, US President Trump said this week he will begin the final round of interviews for the next Federal Reserve Chair candidate and will consider several candidates. Trump told media on Air Force One on Tuesday, "We'll consider a few different people, but I already know very well who I want." White House National Economic Council Director Kevin Hassett remains the top candidate to succeed Powell in leading the Fed, but his victory is not a foregone conclusion. Trump recently stated that he would select the new Fed Chair soon but might wait until early 2026 to announce it publicly. Trump and US Treasury Secretary Besant will interview former Fed Governor Kevin Warsh on Wednesday, and the two are expected to conduct at least one more interview next week.
Coinbase to List Hyperlane (HYPER) Spot Trading
Mars Finance News - According to an official announcement, Coinbase will list Hyperlane (HYPER) spot trading. If liquidity conditions are met, the HYPER-USD trading pair will begin trading at or after 01:00 Beijing Time in supported regions. Hyperlane (HYPER) will be available on coinbase.com, the Coinbase app, and Coinbase Advanced. Institutional users can access Hyperlane (HYPER) directly through Coinbase Exchange.
