The founding team of Stream Finance has filed a lawsuit in the U.S. Federal Court against a partner, accusing them of embezzling $93 million of protocol assets to cover personal liquidation losses and falsely claiming "a car accident destroyed the laptop" to delay disclosure. The lawsuit states that Caleb McMeans, who took over the protocol's operational rights, handed over over $90 million in assets to Ryan DeMattia, who has no formal relationship with the protocol, to manage offline. During the ETH price crash in October, DeMattia was forcibly liquidated due to insufficient margin on persona

Hex Trust announces the issuance and custody of Wrapped XRP (wXRP), pegged 1:1 to the native XRP, with the goal of bringing XRP into multi-chain DeFi. At launch, wXRP's TVL exceeded $100 million, supporting Ethereum, Solana, Optimism, HyperEVM, and other chains, and can be used with Ripple stablecoin RLUSD to form cross-chain trading and liquidity pools. Hex Trust stated that authorized merchants can automatically mint/redeem wXRP in a compliant environment, with assets fully backed by the custodial native XRP. (The Block)

GMGN Co-founder Haze announced on Twitter the launch of the "Aggregation Trenches" feature, claiming that it achieves "dual-chain integration." The dual chains are Solana and BNB Chain, allowing users to view and trade Memecoins on both chains in a single aggregated interface.

According to Fortune, YouTube has launched a new feature for American creators to receive stablecoin payments via PayPal. PayPal's cryptocurrency head May Zabaneh confirmed that creators can now choose to receive their platform revenue shares in PayPal stablecoin PYUSD, a feature currently only available to US users. YouTube has previously been a PayPal payment service customer, using it to pay gig workers and contractors for large enterprises. In early Q3, PayPal added the ability for payment recipients to receive funds in PYUSD, after which YouTube decided to offer this option to creators.

Wu said that Nasdaq-listed Special Purpose Acquisition Company Meshflow Acquisition announced the completion of its initial public offering, issuing 34,500,000 units at a price of $10 each (including Class A common stock and redeemable warrants), raising a total of $345 million. The company will seek mergers, acquisitions, share exchanges, asset acquisitions, share purchases, restructurings, or similar business combinations in the fields of crypto infrastructure, decentralized coordination tools, Web3 middleware, asset tokenization, decentralized finance protocols, and other related areas.

According to Techcrunch, the biometric authentication project World (co-founded by Sam Altman) has released a new version of its app, adding end-to-end encrypted chat feature World Chat, as well as cryptocurrency payment and receipt capabilities similar to Venmo. The new app also supports receiving wages and recharges via virtual bank accounts, and can convert funds into cryptocurrencies without the need to complete World identity verification. World Chat uses end-to-end encryption similar to Signal and highlights the verification status of the other party with color indicators to remind users

Chairman of the U.S. Senate Banking Committee Tim Scott stated that substantial progress has been made on the crypto market structure bill after meetings with CEOs of U.S. Bank, Citigroup, and Wells Fargo. Sources familiar with the matter said that bank executives met with bipartisan lawmakers this week to discuss topics including yield-bearing crypto assets, DeFi, and anti-money laundering. Yield-bearing crypto assets, especially stablecoins, are seen as a major obstacle to advancing a larger-scale crypto market structure bill. The banking industry association believes that the stablecoin bil

The U.S. Senate took a further step in the latest procedural vote to confirm two key crypto regulators. CFTC Chairman nominee Mike Selig and FDIC Chairman nominee Travis Hill have entered the final voting stage. A Senate staffer expects that a total of 97 officials nominated by President Trump, including the two, will undergo final votes next week. Selig is currently responsible for crypto-related matters at the SEC and will succeed Acting CFTC Chair Caroline Pham; meanwhile, Hill has served as Acting FDIC Chair, and this confirmation will officially appoint him. (CoinDesk)

According to Bloomberg, Coinbase plans to announce the launch of proprietary tokenized US stocks and other new features at its December 17th event; relevant application screenshots that were leaked earlier have been circulating on social network X for several weeks, but the company has not officially announced them. A spokesperson declined to comment on the details, only stating that new products can be learned about during the live broadcast. This move is part of Coinbase's strategy to advance its "multi-functional application" approach, expand asset categories, and keep up with industry comp

Wu Shuo learned that DTCC announced its subsidiary DTC has received a "No-Action Letter" from the U.S. SEC, allowing it to provide on-chain tokenization services for real assets held in custody by DTC in a controlled production environment for a period of three years, with plans to gradually launch starting in the second half of 2026. This authorization permits traditional assets to be issued in digital form with equivalent rights and protections on approved L1/L2 networks, with security, resilience, and compliance provided by DTCC according to existing market infrastructure standards.

Wu said that according to Inner City Press, Do Kwon's admitted fraud scale reaches up to $40 billion, and over four years he publicly misled the market, fabricated stability mechanisms, and concealed support arrangements with Jump Trading, ultimately causing hundreds of thousands of investors to suffer significant losses; multiple victim letters show that they experienced severe economic and psychological consequences due to their mistaken belief that the project was "low risk." Considering his early guilty plea, assistance to Terra managers, and relatively lenient detention conditions, the ju

Acting Chairman of the U.S. Commodity Futures Trading Commission (CFTC), Caroline Pham, stated that the agency will revoke the outdated guidance issued in 2020 related to the "actual delivery" of digital assets under the Dodd-Frank Act, citing that the rule is outdated and structurally complex. This revocation is in line with the regulatory recommendations of the President's Digital Asset Market Working Group, which advocates reevaluating delivery standards and strengthening the CFTC's authority over digital assets. (The Block)

dYdX announces the launch of Solana spot trading, supporting all Solana assets, open to US users, and currently offering fee-free trading.

Coinbase announces the adoption of Chainlink's cross-chain interoperability standard CCIP as the sole cross-chain solution for all its wrapped assets (including cbBTC, cbETH, cbDOGE, cbLTC, cbADA, cbXRP, totaling approximately $7 billion), making these assets easier to deploy across more blockchains. CCIP relies on audited cross-chain token pools and the Chainlink oracle network, and has been expanded to EVM, public chain L1, and Bitcoin scaling chains, and tested by institutions like Swift. (The Block)

According to Bloomberg, JPMorgan arranged for Galaxy Digital to issue and settle a $50 million US commercial paper on Solana, with Coinbase and Franklin Templeton as buyers. Payments and maturity payments were completed using Circle's USDC. The transaction is seen as a test of tokenizing bonds for real-world funding scenarios, with JPMorgan stating that it helps verify the actual efficiency of on-chain issuance and settlement; the bank has recently chosen to pilot on Solana to accumulate multi-chain experience and plans to continue promoting more bond issuance on public chains.

Wu said that according to CloverPool data, the Bitcoin mining difficulty was adjusted today at 11:47 at block height 927,360, with a decrease of 0.74% to 148.20T. The average network hash rate over the past 7 days is 1.09 ZH/s.

"IOSG: From Gacha to Derivatives - An 8 Billion USD TCG Investment Map" (Author Max Wang) Currently, the TCG market can be divided into off-chain TCG experiences and on-chain + digital TCG experiences. Both have different participants. The non-chain market is more mature, but the on-chain digital TCG environment is also rapidly gaining popularity; among best-selling products, the effective price is determined by the liquidation price in the gray market, not by the official retail price of Pokémon, which puts enormous upward pressure on prices across the entire TCG industry. Most off-chain TCG

According to Fortune, the crypto startup LI FI announced the completion of a $29 million funding round to develop cross-chain price discovery tools. The funding was led by Multicoin and CoinFund, bringing the company's total funding to approximately $52 million. LI FI offers price comparison and cross-chain bridging fee solutions aimed at helping enterprises find more efficient and cost-effective trading routes.

Wu says that, according to crypto reporter Eleanor Terrett, the United States has a busy crypto policy agenda today. Senators are expected to hold a bipartisan meeting this morning to continue discussions on the cryptocurrency market structure issues. In the afternoon, representatives from several leading industry companies will go to the White House to participate in another market structure meeting. Later, CEOs from Bank of America, Citibank, and Wells Fargo will meet with senators to discuss interest payments for stablecoin issuers' affiliates and other unresolved issues.

Asset management platform Nexo agrees to acquire Argentine crypto platform Buenbit to expand its business in Latin America. This acquisition will enable Nexo to obtain regulatory approval in Argentina, further deepen its market presence in the country and Peru. After the transaction, Nexo will be able to offer services such as crypto loans, yield savings accounts, and trading tools to Buenbit users. Nexo plans to establish Buenos Aires as its Latin American headquarters and expand into Mexico and Peru.(CoinDesk)