Trump: Inflation Will Fall Further, But There Will Be No Deflation
Mars Finance News, December 9 - US President Trump stated that inflation will fall further, but there will be no deflation. (Jin10)
US CFTC Approves Bitcoin, ETH, and USDC as Collateral in Derivatives Market
Mars Finance News, according to The Block, acting chairman of the US Commodity Futures Trading Commission (CFTC) Caroline Pham announced the launch of the "Digital Asset Pilot Program," allowing specific cryptocurrencies to be used as collateral in the derivatives market. The pilot program will be limited to Bitcoin, ETH, and the stablecoin USDC in its initial phase. Pham stated that embracing responsible innovation ensures US markets become world leaders, unlocking US economic growth. Futures commission merchants (FCMs) participating in the crypto collateral program are required to report the total amount of digital assets held in customer accounts weekly, including futures and cleared swaps, and report any significant operational or systemic issues affecting digital asset collateral.
Judge Inquires About Charges Do Kwon Faces in South Korea Before US Sentencing
Mars Finance News, according to Finance Feeds, Do Kwon is scheduled for sentencing in New York on Thursday after pleading guilty to two felony charges, but the presiding judge is urging prosecutors and defense attorneys to clarify the situation he will face in South Korea. US District Judge Paul Engelmayer, in documents filed on Monday, requested both parties to detail the charges and the "maximum and minimum sentences" Do Kwon might face if extradited to South Korea. Do Kwon pleaded guilty in August to wire fraud and conspiracy to commit fraud. These charges stem from his role in the 2022 collapse of Terraform Labs, whose stablecoin and token crash triggered a broader market downturn, causing significant losses across the crypto industry. Do Kwon is expected to serve his sentence in the US first, but the questions raised by Engelmayer indicate the court's desire to fully understand the parallel criminal charges he faces in South Korea. The judge also asked both parties whether they agree that "the time Do Kwon was detained in Montenegro" should not be counted towards any sentence in the US. Do Kwon was detained in Montenegro for four months for using forged travel documents and spent over a year fighting extradition before being transferred to US custody.
CEOs of Bank of America, Wells Fargo, and Citigroup to Meet with US Senators to Discuss Crypto Market Legislation
Mars Finance News, according to Bloomberg, Bank of America CEO Brian Moynihan, Citigroup CEO Jane Fraser, and Wells Fargo CEO Charlie Scharf plan to meet with bipartisan senators on Thursday to discuss cryptocurrency market legislation that could soon be put to a vote. The discussion, organized by the large bank coalition Financial Services Forum, is expected to focus on bankers' opposition to allowing stablecoins to pay interest, banks' competitiveness in the crypto space, and preventing the use of cryptocurrency for illegal activities. Senators involved in crypto market structure legislation have been invited to attend the meeting.
Airwallex Founder Discloses Rejection of $1.2 Billion Acquisition Offer from Stripe
Mars Finance News, December 9 - Jack Zhang, founder and CEO of payment startup Airwallex, stated in a post, "In 2018, Stripe offered to acquire us for $1.2 billion when our revenue was only $2 million. Stripe's valuation was 600 times revenue; based on the latest Stripe stock price, I personally could have made over $2 billion. But the team refused. Today, we have raised $330 million, with a valuation of $8 billion and an annual recurring revenue (ARR) of $1 billion." Previously reported, Airwallex raised $330 million in its latest funding round, reaching a valuation of $8 billion. According to a statement released on Monday, this valuation represents an increase of about 30% from the previous funding round six months ago. The round was led by Addition, with participation from institutions such as Activant, Lingotto, and TIAA Ventures.
Canadian Tax Agency Says 40% of Crypto Users Pose Tax Evasion Risk, Has Requested Platforms to Disclose User Data
Mars Finance News, the Canada Revenue Agency (CRA) stated that approximately 40% of taxpayers using crypto platforms engage in tax evasion or high-risk non-compliance. The CRA said in an email statement that its crypto asset audit team, consisting of 35 auditors, is handling over 230 related cases and has "recovered over C$100 million in taxes" through audits in the past three years.
The CRA acknowledged that current Canadian law has significant limitations in identifying crypto asset users, and regulators "cannot reliably identify crypto users and assess their tax compliance." Therefore, the CRA has repeatedly attempted to require platforms to disclose user data, including requesting data from Dapper Labs on its top 18,000 users, but ultimately, after negotiations between lawyers and officials, obtained data for only 2,500 users.
Canada's Department of Finance announced in October this year that it will introduce new legislation in spring 2026 to close regulatory gaps. Finance Minister François-Philippe Champagne stated that the government will establish a dedicated financial crimes agency to address rapidly evolving fraud and financial crime. Meanwhile, Canada's financial intelligence unit, FINTRAC, continues to strengthen anti-money laundering enforcement, recently fining KuCoin operating entity Peken Global over C$19.5 million for failing to register as a foreign money services business as required, among other reasons.
Paradigm Founder: Polymarket Has Data Bug, Trading Volume Double-Counted in Most Public Data
Mars Finance News, Paradigm founder Matt Huang reposted research by @notnotstorm on social media, pointing out that Polymarket has a data statistics error causing its publicly reported trading volume to be double-counted. This issue may have affected most third-party cited public data.
Probability of Fed Cutting Rates by 25 Basis Points in December Now at 87.3%
Mars Finance News, December 9 - According to CME "FedWatch" data, the probability of the Fed cutting rates by 25 basis points in December is 87.3%, while the probability of keeping rates unchanged is 12.7%. The Fed will announce its interest rate decision for the period ending December 10 at 3:00 AM Beijing Time on December 11 (Thursday), expected at 3.75%, previous value 4.00%; Fed Chair Powell will hold a monetary policy press conference at 3:30 AM.
US Senator Moreno Calls Crypto Bill Negotiations "Frustrating," Year-End Legislative Process Intensifies
Mars Finance News, according to The Block, Ohio Republican Senator Moreno stated that negotiations surrounding the cryptocurrency market structure bill are "quite frustrating," with Democrats and Republicans planning to meet on Tuesday. At the Blockchain Association policy summit held in Washington, D.C., on Monday, Moreno outlined the progress of discussions on what the broader bill should include. Moreno said: "I am reluctant to rush out a bad bill just to show we passed something. No deal is better than a bad deal." The respective versions of the market structure bill from the House and Senate legislative bodies still need to be reconciled. The House passed its version of the Clarity Act in July. Although the Senate proposal does not differ significantly, passing a bill in the Senate is typically more difficult than in the House. Previously, Senate Banking Committee Chairman, Republican Tim Scott, stated that holding a bill markup hearing by December 17 or 18 was "feasible." However, on Monday, Democratic Senator Mark Warner revealed that completing the bill markup hearing before the holidays is challenging, and they are still waiting for the White House's stance on quorum and ethics issues.
Crypto Fear & Greed Index Rises to 22, Market Remains in "Extreme Fear"
Mars Finance News, December 9 - According to Alternative data, today's Crypto Fear & Greed Index rose to 22 (yesterday 20), with the market still in a state of "Extreme Fear." Note: The Fear & Greed Index threshold is 0-100, comprising indicators: Volatility (25%) + Market Volume (25%) + Social Media Hype (15%) + Surveys (15%) + Bitcoin Dominance (10%) + Google Trends (10%).
Strategy CEO: Company Will Hold Bitcoin Until at Least 2065, Maintaining Long-Term Accumulation Strategy
Mars Finance News, December 9 - According to Cointelegraph, Strategy CEO Phong Le stated that the company will hold Bitcoin until at least 2065, maintaining a long-term accumulation strategy. Despite the growing influence of spot Bitcoin ETFs, MSTR stock will remain a key proxy for BTC.
CZ Responds to "Binance Employee Profiting from Token Launch" Incident: Although No Longer Managing Binance, Will Still Assist in Handling Reports of Employee Misconduct
Mars Finance News, December 9 - CZ posted on platform X in response to the "Binance employee涉嫌利用内幕消息发币获利" incident, stating: "Although I am no longer managing Binance, if users report employee misconduct via private message or comments, I will handle it properly. I heard the above case has been reported. Binance maintains close cooperation with law enforcement agencies worldwide (mainly assisting them), and the perpetrators have nowhere to hide." Previously reported, Binance stated on social media that its investigation into the "suspected employee token launch" matter showed that the employee in question launched the related token on-chain at 13:29 (UTC+8) on December 7, with some of the text and images used in a tweet posted by the Binance Futures account at 13:30 matching. After verification, this behavior was confirmed to be the employee涉嫌利用职务便利谋取私利, seriously violating company regulations and code of professional conduct. The employee involved has been immediately suspended pending further disciplinary action. Binance has proactively contacted and will actively cooperate with relevant law enforcement agencies in the employee's location to take corresponding legal action in accordance with applicable laws. As promised, a total reward of $100,000 will be evenly distributed among the 5 earliest valid whistleblowers.
Robinhood Launches Ethereum and Solana Staking Services, Continues Expanding Crypto Business
Mars Finance News, according to Fortune magazine, Robinhood is increasing its focus on cryptocurrency business. According to the company, starting Tuesday, the trading app will launch Ethereum and Solana staking services in New York, allowing customers to earn yields through cryptocurrency. The company will allow New York customers to stake and plans to expand the business nationwide. Robinhood also announced its entry into the global cryptocurrency market. In Europe, it will add perpetual futures contracts for multiple cryptocurrencies and will also enter the Indonesian market, as the company has agreed to acquire a local brokerage and crypto platform there.
Traders Expect Cumulative Fed Rate Cuts by End-2026 to Be Less Than 75 Basis Points
Mars Finance News, December 8 - According to market news, traders expect cumulative Fed rate cuts by the end of 2026 to be less than 75 basis points.
