Indepth Research

Provide in-depth research reports and independent analysis, leveraging data, technology, and economic insights to deliver a comprehensive examination of the blockchain ecosystem, project potential, and market trends.

On the Night of the Fed Rate Cut, the Real Game Is Trump's 'Monetary Power Grab'

Tonight marks the Federal Reserve's most anticipated interest rate decision of the year. While a 25-basis-point cut is widely expected, the key variable for risk assets is whether the Fed will restart liquidity injections, potentially through a $45 billion monthly short-term debt purchase program starting in January. This signals a stealth return to quantitative easing. The larger tension stems from an unprecedented shift in monetary power. President Trump is rapidly reshaping the Federal Reserve, not just by replacing its chair but by redrawing the boundaries of monetary authority. The long-held principle of central bank independence is being eroded as the Treasury Department seeks to reclaim control over long-term interest rates, liquidity, and the balance sheet. This transition to a "fiscally dominated monetary era" is the underlying logic connecting recent market events. Despite a 40 billion outflow from Bitcoin ETFs, analysis suggests this was not panic selling but the unwinding of leveraged basis trades, leaving a healthier, less leveraged market. Meanwhile, led by Michael Saylor, made its largest Bitcoin purchase in months ($963 million), and Tom Lee's BitMine significantly increased its Ethereum holdings, signaling strong institutional conviction during the downturn. The macro shift implies higher market volatility as the old order fractures. While improved liquidity may provide a floor for Bitcoin, its longer-term trajectory awaits clarity within this new monetary framework, where Treasury, not the Fed, may ultimately dictate key financial conditions.

marsbit12/11 10:18

On the Night of the Fed Rate Cut, the Real Game Is Trump's 'Monetary Power Grab'

marsbit12/11 10:18

Huobi Growth Academy | In-Depth Report on Account Abstraction (AA): The Generational Leap of Ethereum's Account System and the Reshaping of the Landscape in the Next Five Years

Ethereum's Fusaka upgrade on December 3, 2025, marks a major milestone in enhancing scalability, reducing costs, and optimizing node efficiency, with significant improvements to Account Abstraction (AA). AA addresses fundamental security and usability limitations of Externally-Owned Accounts (EOAs) by enabling programmable, recoverable, and permission-controlled smart accounts. While ERC-4337 has accelerated AA adoption, challenges like high gas costs, unclear business models, ecosystem fragmentation, and cross-chain limitations have hindered widespread implementation. Advancements such as Rollup scaling, BLS signature aggregation, and EIP-7702’s seamless upgrade path are gradually enabling AA to scale. In the next five years, AA will coexist with EOAs and interoperate with protocols like x402, serving as a high-intelligence layer for on-chain accounts. It will play a critical role in transitioning Web3 from a niche technology to a mainstream infrastructure, ultimately contributing to a unified internet account system.

深潮12/11 06:14

Huobi Growth Academy | In-Depth Report on Account Abstraction (AA): The Generational Leap of Ethereum's Account System and the Reshaping of the Landscape in the Next Five Years

深潮12/11 06:14

Top 8 Web3 Smart Contract Auditing Firms for 2026

Based on a comprehensive analysis of public audit data, client deployments, and research contributions from 2022 to late 2025, this ranking identifies the top 8 Web3 smart contract auditing firms for 2026. The evaluation focused on measurable factors like depth of manual analysis, success with high-value DeFi and infrastructure protocols, and contributions to security research and tooling. Sherlock ranks first, distinguished by its lifecycle security platform that uses performance data to build optimal audit teams and combines audits with bug bounties and AI-powered monitoring. Halborn follows, offering full-stack security for complex operational footprints beyond smart contracts. Trail of Bits is recognized for research-grade audits of complex systems like rollups and novel cryptography. BlockSec provides integrated audits and live incident monitoring. ConsenSys Diligence offers deep Ethereum-native expertise. Nethermind Security specializes in formal methods and systems mixing on-chain and off-chain logic. Quantstamp is noted for its broad audit volume across multiple chains, and QuillAudits for its high volume of audits and public security reporting. The key trend is a shift from isolated audits toward connected security systems that combine human review, researcher networks, automated analysis, and financial alignment like coverage.

TheNewsCrypto12/11 06:04

Top 8 Web3 Smart Contract Auditing Firms for 2026

TheNewsCrypto12/11 06:04

Partner at Castle Island Ventures: I Don't Regret Spending Eight Years in the Cryptocurrency Space

In a reflective piece, Castle Island Ventures partner Nic Carter responds to an article titled "I Wasted Eight Years of My Life in Crypto," which criticized the industry as a speculative casino that failed to deliver on its original ideals. Carter acknowledges the validity of some critiques, particularly around excessive speculation, meme coins, and the funding of unnecessary blockchain projects. He compares the disillusionment to earlier high-profile exits like Mike Hearn’s, noting a recurring theme: crypto promised decentralization and innovation but often delivered gambling and centralization. Carter outlines five core aspirations of cryptocurrency: restoring sound money, encoding business logic via smart contracts, establishing true digital property rights, improving capital market efficiency, and promoting global financial inclusion. While he remains optimistic about the long-term potential of crypto, he advocates for a "pragmatic optimism" that acknowledges both the real-world utility and the unavoidable speculative excesses. He argues that useful infrastructure is being built despite the noise, and while the revolution may not be as dramatic as some hoped, progress is being made in areas like Bitcoin, stablecoins, and decentralized exchanges. The key, he suggests, is to stay grounded in realistic possibilities rather than utopian ideals.

深潮12/11 04:36

Partner at Castle Island Ventures: I Don't Regret Spending Eight Years in the Cryptocurrency Space

深潮12/11 04:36

Powell: Weakening Employment, Inflation Still High, No One Talks About Rate Hikes Now

In his latest address, Federal Reserve Chair Powell highlighted a noticeable cooling in the U.S. labor market, marked by slower hiring and reduced layoffs, declining challenges in recruitment, and diminished household expectations for job opportunities. The unemployment rate has risen to approximately 4.4%, with employment gains significantly weaker than at the start of the year. This slowdown stems partly from reduced labor supply—due to decreased immigration and lower participation rates—but also reflects weakening labor demand itself. On inflation, core PCE remains at 2.8% year-on-year, above the long-term 2% target. While goods inflation has edged up due to tariffs, service inflation continues to moderate. Although overall inflation has declined substantially from its 2022 peak, it has not yet reached a level that fully assures the Fed. The FOMC responded by cutting rates by 25 basis points and initiating short-term Treasury purchases to maintain ample reserves and ensure effective policy transmission. Powell emphasized that, with rising employment risks and persistently elevated inflation, there is no "risk-free" policy path. The Fed must carefully balance its dual mandate constraints. He noted that interest rates are nearing a neutral range, and future policy decisions will be data-dependent, avoiding preset directions and instead being assessed meeting by meeting based on economic conditions and risks.

marsbit12/11 04:02

Powell: Weakening Employment, Inflation Still High, No One Talks About Rate Hikes Now

marsbit12/11 04:02

Fed Cuts Rates and Buys Short-Term Bonds: US Stocks, Short-Term Treasuries, Gold Rise; Dollar Falls; Bitcoin Fluctuates

On December 10, the Federal Reserve cut interest rates by 25 basis points and announced a plan to purchase $40 billion in Treasury bonds over the next 30 days. Before the announcement, U.S. stocks were mixed, the dollar and gold declined, and Treasury yields edged lower. After the release, equities and gold initially fluctuated before rising, short-term Treasury yields fell briefly, while longer-term yields eventually climbed. During the press conference, Chair Powell indicated that Treasury purchases would remain elevated in coming months but downplayed expectations for another imminent rate cut. His comments drove stocks higher, with major indices extending gains. Bond yields trended downward overall, and the dollar weakened further. Gold recovered early losses to hit a daily high, while Bitcoin experienced volatility before climbing toward the end of the event. By the end of the press conference, the S&P 500 and Dow were up 0.7% and 1.1% respectively, short-term yields hit session lows, the dollar index fell over 0.6%, and gold advanced 0.6% to approach $4,239. Bitcoin also rose, nearing $94,500.

华尔街日报12/10 21:29

Fed Cuts Rates and Buys Short-Term Bonds: US Stocks, Short-Term Treasuries, Gold Rise; Dollar Falls; Bitcoin Fluctuates

华尔街日报12/10 21:29

Federal Reserve cuts rates by 25bps in first decisive pivot—what it means for crypto markets

The Federal Reserve cut interest rates by 25 basis points on 10 December, shifting its policy stance toward easing amid rising employment risks and moderating inflation. The FOMC lowered the federal funds target range to 3.50–3.75%, emphasizing growing uncertainty and increased downside risks to the labor market. While inflation remains elevated, the Fed signaled that recession concerns now outweigh price pressures. The rate cut is expected to lower funding costs, weaken the dollar, and boost risk assets like Bitcoin. Crypto markets may benefit from improved liquidity if this marks the start of a sustained easing cycle. Further guidance from Chair Powell and upcoming economic data will determine the policy trajectory.

ambcrypto12/10 19:33

Federal Reserve cuts rates by 25bps in first decisive pivot—what it means for crypto markets

ambcrypto12/10 19:33

On the Eve of Do Kwon's Trial, $1.8 Billion Is Betting on His Sentence

Summary: On the eve of Do Kwon's final sentencing hearing, LUNA and LUNA2 contracts recorded a staggering $1.8 billion in trading volume despite having no fundamental value. The market is speculating on the outcome of the trial, with extreme divergence between short and long positions. Prosecutors are seeking a 12-year sentence, while the defense argues for 5 years. This legal event has turned LUNA into a speculative instrument, detached from its original utility, highlighting how crypto markets efficiently price even events like judicial outcomes and human freedom. Regardless of the verdict, LUNA's volatility is expected to collapse post-hearing as the event-driven speculation concludes.

深潮12/10 12:44

On the Eve of Do Kwon's Trial, $1.8 Billion Is Betting on His Sentence

深潮12/10 12:44

Didi in Latin America: Already a Digital Banking Giant

Didi, known in China primarily as a ride-hailing giant, has transformed into a digital banking powerhouse in Latin America, serving over 25 million users. While its financial ambitions were stifled in China by the dominance of Alipay and WeChat Pay—which left little room for competitors—Didi found fertile ground in Latin America’s underbanked markets. Facing a cash-dominated economy and low banking penetration, Didi built its own financial infrastructure from scratch. It partnered with OXXO, a ubiquitous convenience store chain in Mexico, to allow cash top-ups via its DiDi Pay system—effectively creating an alternative banking network. This move not only improved transaction efficiency but also addressed critical safety issues, as drivers carrying cash were often targets of robbery. Leveraging its vast data on driver and passenger behavior, Didi developed a unique "behavioral credit" system, enabling it to offer loans to individuals with no formal banking history. Products like DiDi Préstamos and high-yield savings accounts (DiDi Cuenta) helped capture and retain user funds, turning Didi into a central financial hub. Beyond finance, Didi now facilitates broader economic activities: it supports e-commerce partnerships (like AliExpress’ "buy now, pay later" service) and accelerates the adoption of Chinese electric vehicles by providing auto loans to drivers. This evolution from ride-hailing to integrated fintech and industrial enabler highlights Didi’s adaptability and the success of its "infrastructure-first" strategy in emerging markets. The company’s journey in Latin America underscores a broader lesson for Chinese tech firms expanding abroad: success requires not just exporting technology, but rebuilding the foundational systems that make it relevant—especially in regions where basic services are lacking. Didi’s growth in the region reflects a return to the gritty, ground-up innovation that once defined China’s internet boom.

marsbit12/10 12:08

Didi in Latin America: Already a Digital Banking Giant

marsbit12/10 12:08

From Principles to the Future: How Quantum Computing Reshapes the Security Landscape of Blockchain

Summary: This article analyzes the real quantum computing threat to blockchain, arguing timelines for cryptographically relevant quantum computers (CRQCs) are often exaggerated. While "Harvest Now, Decrypt Later" (HNDL) attacks necessitate an immediate shift to post-quantum encryption for long-term data secrecy, the transition for digital signatures is less urgent as they are not vulnerable to HNDL attacks. Most blockchains (e.g., Bitcoin, Ethereum) primarily use signatures, not encryption, so they face the threat of future signature forgery, not immediate decryption. However, Bitcoin requires urgent planning due to its slow governance, the need for active user migration of funds, and the risk of losing billions in vulnerable, possibly abandoned coins. Privacy chains with encrypted on-chain data are more immediate HNDL targets. The article cautions against a rushed adoption of immature post-quantum signatures (which are larger and riskier to implement) and zkSNARKs, advising a measured approach. It recommends immediate deployment of hybrid encryption, planning for blockchain migration, prioritizing implementation security (bugs are a bigger near-term risk than quantum computers), and maintaining perspective on quantum computing announcements.

比推12/10 09:34

From Principles to the Future: How Quantum Computing Reshapes the Security Landscape of Blockchain