Launchpad Cadenza completed a $230 million IPO, with Class A common stock and warrants listed on NASDAQ. The company plans to pursue mergers and acquisitions in blockchain, fintech, and digital assets, demonstrating traditional finance's ongoing focus on Web3 infrastructure.

Linda Xie from the Farcaster ecosystem revealed that the token issuance platform Clanker is developing a new pre-sale framework, Clanker Auctions, to improve the experience of initial coin offerings. Previously, due to contract design flaws, large investors monopolized the market, making it difficult for ordinary users to participate. The new plan aims to protect small investors' rights through improved auction protocols and enhance the fairness of token pre-sales.

At the Wealth Management Summit, the head of B2B at a leading exchange emphasized that compliance has become the foundation of operations, and the exchange is customizing regulatory solutions for institutional clients. Meanwhile, the development of Real World Assets (RWA) is accelerating, with traditional finance gradually integrating with digital assets to achieve more efficient asset management and access to global investors.

【ChainNews】Circle's latest official data shows that the market dynamics of USDC have experienced significant fluctuations over the past week (up to December 18). Approximately 4.7 billion tokens were issued, while redemptions reached 6 billion tokens, resulting in a net decrease of 1.3 billion tokens in circulation.
Currently, the total circulating supply of USDC remains stable at 772 billion tokens, backed by reserve assets totaling 77.5 billion USD. The specific allocation of these reserves is noteworthy: overnight reverse repurchase agreements account for the majority, approximately 53.3 billion USD; short-term government bonds with maturities under 3 months amount to about 14.3 billion USD; deposits at systemically important banks are around 9.2 billion USD; and other regular bank deposits total approximately 700 million USD.
From the reserve structure perspective, USDC's asset allocation favors highly liquid and low-risk instruments, with US Treasuries and repurchase agreements making up over 85%. This conservative allocation strategy among stablecoins also reflects ongoing control over reserve adequacy. The recent phenomenon of redemptions exceeding issuances may

Recent on-chain data shows that stablecoins have dominated value transfer, with USDC and USDT transferring $124 billion and $68 billion respectively, far surpassing Bitcoin and other mainstream assets, becoming an important liquidity channel in the crypto market.

Nic Carter analyzes the threat of quantum computing to Bitcoin, pointing out that the technical difficulty of cracking Bitcoin is not insurmountable, but issues such as coordinated upgrades remain complex. Additionally, approximately 1.7 million Bitcoins are at risk of being attacked due to lost private keys. He calls on the Bitcoin community to take action as soon as possible to address potential threats.

【Crypto World】The USDC deposit promotion launched on Farcaster last month has now distributed the rewards. Looking back, this event ran for a full 10 weeks, and participating users received an additional 10% reward — however, the reward cap for a single account was set at $500. It now appears that the event was successfully completed, and community members can check their wallets.

The Museum of Modern Art (MoMA) in New York recently acquired 8 CryptoPunks NFT artworks, marking a recognition of digital art by a traditional art institution. This move boosts confidence in the NFT art market and affirms the significance of CryptoPunks in art history.

【Chain Wen】The U.S. Securities and Exchange Commission recently announced the final disciplinary decisions against three former executives of FTX and its affiliated entities. This enforcement action marks a significant step in the SEC's handling of cases related to the exchange's collapse.
Currently, former CEO Sam Bankman-Fried is still serving time in federal prison for fraud. Meanwhile, Alameda Research's former CEO Caroline

U.S. senior officials use a three-month moving average to assess inflation, with the current inflation rate at 1.6%, below the Federal Reserve's 2% target, indicating increased room for rate cuts. This could lead to a more accommodative liquidity environment, attracting attention to risk assets, especially for cryptocurrency investors, as the expectation of rate cuts will be an important factor in asset allocation.

【Crypto World】Chainlink's non-circulating supply wallet has released 11.25 million LINK, with a total value of approximately $14.19 million. In this large unlock, 9.23 million LINK were transferred to Binance exchange, and another 2.02 million LINK were moved into a multi-signature wallet. This change in on-chain fund flow often reflects the progress of token release schedules and adjustments in market liquidity.

【Crypto World】FalconX has just transferred 100 million USDC to an unknown address, equivalent to approximately 100 million USD. The flow of this large amount of funds immediately drew market attention. From on-chain data, this transfer is quite significant in scale. As for the specific purpose of these funds—whether it is institutional rebalancing or a prelude to a large transaction—nothing is known yet. However, such large-scale USDC movements have always been key signals that market participants pay close attention to. Next, it will be interesting to observe whether these funds flow to exchanges, lending protocols, or other destinations, which may offer insights into recent institutional activities.

【币界】美国证券交易委员会（SEC）正式下达最终同意令。阿拉米达研究公司前CEO卡罗琳·埃里森、FTX前高管加里·王以及尼沙德·辛格将被永久禁止从事任何违反证券法的行为。
具体来看，埃里森被禁止在任何上市公司担任董事或高管职位，禁令期限为10年。王和辛格面临同样的职位限制，但禁令期为8年。这些措施目前仍待法院最终批准。
值得注意的是，三人并未对SEC的欺诈指控提出否认，而是同意接受这些处罚。他们的违规行为与2022年FTX和阿拉米达研究公司的崩溃事件直接相关——那场风波震撼了整个加密生态，留下了深刻的警示。SEC此举进一步加强了对行业从业者的监管约束。

Bitwise Managing Director Bradley Duke pointed out that by 2025, the funds attracted by Bitcoin ETPs have surpassed those of gold ETPs, indicating an increasing mainstream capital recognition of crypto assets. The promotion of Bitcoin spot ETPs in North America has facilitated investment and promoted this trend.

This year, Bitcoin exchange-traded products (ETPs) have attracted more capital inflows than gold ETPs, reflecting a rising market recognition of digital assets. Institutional and individual investors are beginning to reassess asset allocation; although gold remains stable, Bitcoin's convenience has attracted more funds.