Key Market Intelligence on December 10th, how much did you miss out on?

Top News

1. Federal Reserve's Rate Cut Tonight Appears Highly Likely, Focus Shifts to How 'Politicization' Will Reshape Monetary Policy

2. Hacker Regains Control of He Yi's WeChat Account, Suspected Attacker Modified Password via External Verification

3. Multiple Meme Coins Surge on the Solana Blockchain, Pump Livestream Coin GBACK Surpasses $10 Million Market Cap

4. DOYR Surges Over 290% Briefly Due to Binance Alpha Listing News

5. Bitwise CEO Believes Market Entered Bear Territory as Early as February This Year, Expects Turnaround in 2026

Trending Topics

Source: Overheard on CT (tg: @overheardonct), Kaito

Below is the Chinese translation of the original content:

【COINBASE】

Coinbase gained significant attention today due to its collaboration with PNC Bank. This partnership allows PNC's private clients to directly trade Bitcoin through their existing accounts, marking a significant milestone in institutional cryptocurrency adoption. This is the first such collaboration among major U.S. banks, highlighting Coinbase's role in driving the integration of cryptocurrency into the traditional banking system. Furthermore, discussions regarding Coinbase's strategic initiatives (such as re-entering the Indian market and participation in multiple crypto projects) have also raised its visibility.

【THEORIQ】

Today, the main discussions surrounding THEORIQ focused on the launch of the $THQ airdrop claim portal. This portal enables testnet users, Kaito Yappers, community ambassadors, and members to verify their eligibility and claim the airdrop. The process includes anti-whale measures and requires testnet users to mint a "proof of humanity" NFT. The airdrop registration period is from December 9 to December 14. In addition, THEORIQ has been included in Coinbase's roadmap, sparking high market attention and anticipation for its TGE.

【HYPERLIQUID】

HYPERLIQUID has received widespread attention today due to the launch of HyENA. HyENA is a new trading platform built on the Hyperliquid HIP-3 standard, offering innovative features such as margin staking for earnings. Discussions have also focused on Hyperliquid's recent auto-deleveraging event, which resulted in significant losses and sparked debates on improving the ADL mechanism. Additionally, the platform's potential in redefining perpetual contract trading and its market impact have been prominently mentioned.

【USDE】

Today, the main discussions around USDE have centered on the launch of HyENA. HyENA is a USDe margin perpetual contract DEX based on the Hyperliquid HIP-3 standard. It allows traders to earn rewards on USDe margin staking, converting idle margin into an efficient savings account. The platform, built by BasedOneX and supported by Ethena Labs, uses USDe as its core collateral. HyENA has introduced a new standard of on-chain transactions, enabling users to trade any asset 24/7 while earning rewards. Its innovative capital efficiency model and incentives (such as enhanced USDe margin APY and HyENA points) have garnered widespread attention. Discussions have emphasized HyENA's potential in redefining perpetual contract trading and gaining market share.

【KRAKEN】

Today, discussions surrounding KRAKEN have focused on its involvement in several key crypto events. KRAKEN is hosting a $FUN token sale in collaboration with Legion, and Sport.Fun is expanding its fantasy sports platform. Meanwhile, the launch of the ADI Chain mainnet and the listing of the $ADI token on KRAKEN, KuCoin, and Crypto.com have also gained attention, highlighting their role in the UAE's digital payment ecosystem. Additionally, strategic moves by KRAKEN (such as a $500 million pre-listing financing round and cooperation with the Deutsche Boerse) have been mentioned, showcasing its influence in bridging traditional finance and digital assets.

Featured Articles

1.《Trump Takes Over the Fed, Impact on Bitcoin in the Coming Months》

Tonight will see the most anticipated rate cut decision of the Fed this year. The market is overwhelmingly betting on a rate cut almost set in stone. However, what will truly determine the future trajectory of risk assets over the next few months is not another 25 basis points cut, but a more critical variable: whether the Fed will inject liquidity back into the market. So this time, Wall Street is not watching the rates but the balance sheet.

2.《a16z Predicts Four Major Trends Leading the Way in 2026》

Over the past year, the breakthroughs in AI have shifted from model capabilities to system capabilities: understanding long time series, maintaining consistency, performing complex tasks, and collaborating with other intelligent agents. The focus of industrial upgrade has also shifted from single-point innovation to redefining infrastructure, workflows, and user interaction methods. In the annual "Big Ideas 2026," a16z's four investment teams have provided key insights for 2026 from the dimensions of infrastructure, growth, healthcare, and the interactive world, respectively. Essentially, they collectively outline a trend: AI is no longer a tool but an environment, a system, an actor parallel to humans.

On-chain Data

Last week's on-chain fund flow on December 10th