ChainCatcher message, Greeks.live analyst Adam posted on social media that this Wednesday is Christmas, and major trading platforms in Europe and the United States will be closed for the holiday, with crypto funds typically showing outflows this week.Currently, ETFs are the main source of external funds for the crypto market, and the pressure from fund outflows on the crypto market has significantly increased compared to previous years, with strong risk-averse sentiment in the market. This bull market has not yet experienced a significant correction, and now with the Christmas holiday, funds are relatively tight. It is possible that there will be a deleveraging event before Trump's inauguration, with a strong risk-averse sentiment in the market.The options market has nearly $12 billion in options expiring, accounting for more than 40% of the current total open interest. Large traders and market makers are actively adjusting their positions, and paying close attention to the market can occasionally yield good opportunities for bargains. The volatility expectation for this week's Christmas is not high; the market is more focused on betting on the trends before and after Trump's inauguration at the end of January. Recently, it remains a good opportunity to buy options.

ChainCatcher news, according to The Block, Deribit CEO Luuk Strijers expressed doubts about the sustainability of many crypto trading platforms due to regulatory pressure.He said, "I think many platforms will no longer exist, so more specifically, I believe the regulatory framework will strengthen globally and make many of the currently large list of platforms unviable, either because the operational costs are too high or because regulators will directly shut them down."Strijers predicts that as the industry matures, only a few platforms will be able to thrive. He stated, "If you want to serve institutional clients globally, but perhaps more importantly, retail clients, the regulatory framework is already very strict and will only become stricter, so ultimately, the trading volume will not be sufficient to sustain them all, so I think there will be a massive shift, focusing on top clients."

ChainCatcher news, according to data disclosed by IntoTheBlock, in 2024, $9.4 billion worth of Bitcoin flowed out of trading platforms, mainly due to the success of Bitcoin ETFs.

ChainCatcher news, Hong Kong virtual asset exchange EX.IO (Thousand Whales Technology (BVI) Limited) has obtained approval from the Hong Kong Securities and Futures Commission (SFC) to operate a virtual asset trading platform under Type 1 (Securities Trading), Type 7 (Providing Automated Trading Services) licenses, and in accordance with the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO).

ChainCatcher news, according to the official announcement, the Hong Kong Securities and Futures Commission has announced the issuance of licenses to four virtual asset trading platforms under the fast-track licensing procedure, including Cloud Account Greater Bay Area Technology (Hong Kong), DFX Labs, Hong Kong Digital Asset Trading Group, and Thousand Whales Technology.These platforms must complete rectifications and pass independent third-party vulnerability assessments and penetration tests before they can operate within a restricted scope. The Securities and Futures Commission will supervise the second phase of the assessment through a tripartite agreement, and business restrictions will be lifted upon completion of the assessment. The Commission plans to release more licensing procedure guidelines in early 2025 to promote the development of Hong Kong's virtual asset ecosystem.

ChainCatcher news, according to Bitcoin.com, the gamified social trading platform XYRO has completed a $1.4 million private fundraising round, led by Animoca Brands.According to the Web3 asset data platform RootData, XYRO is a gamified social trading platform designed to make cryptocurrency more accessible and engaging. Users can test their ability to predict cryptocurrency prices, earn rewards, compete with others, and share trading ideas.

ChainCatcher news, according to the Anhua Public Account, the EDA project that has emerged in the city has attracted significant attention. Investigations have revealed that there are major financial risk hazards, and citizens are urged to remain vigilant.It is reported that the EDA project claims to be launched by Hong Kong EDA Group Holdings Limited, promoting its business under the guise of "cross-border e-commerce and logistics companies" and other entities' traffic popularity. Members are required to pay an entry fee to purchase popular traffic to become "new recruits," with the value of popular traffic equivalent to the value in RMB.The project currently relies mainly on overseas or uncertainly secure virtual currency trading platforms for payments. The platform's funds are characterized by instability and difficulty in regulation. In the event of financial fraud or money laundering and other illegal activities, it will be difficult for the public to protect their rights.Analysis shows that the payment channels, operating model, and reward system of the EDA project have suspected pyramid scheme characteristics, posing significant financial risk hazards. Relevant departments will continue to closely monitor and take strong measures to combat such illegal activities.

ChainCatcher news, according to The Block, Hong Kong has committed to accelerating the licensing process for cryptocurrency trading platforms. Joseph Chan, Deputy Secretary for Financial Services and the Treasury, stated in the Legislative Council that the Securities and Futures Commission will promote a "fast-track licensing process" and establish a "consultative group," which is expected to start working with licensed trading platforms early next year.Joseph Chan indicated that the Financial Stability Committee plans to submit the relevant legislative bill to the Legislative Council "within this month." According to the consultation document, the proposal will require all FRS issuers to obtain a license from the Hong Kong Monetary Authority. The regulatory agency will propose a plan next year to issue licenses to cryptocurrency custodians.

ChainCatcher message, U2U Network has released the U2U listing guide on X. U2U will be listed on the KuCoin, Gate.io, MEXC, and BingX trading platforms. Participants in the IDO on Fjord will receive U2U ERC-20 tokens on the Ethereum network, which can only be deposited to KuCoin. Airdrop participants will receive the native U2U tokens, which can be deposited to Gate.io, MEXC, and BingX.Important time points:Fjord Foundry Claim: December 10, 10:30 (UTC)Deposit Opens: December 9, 10:00 (UTC)Trading Opens: December 10, 10:00 (UTC)In addition, U2U Network reminds users not to deposit native tokens to KuCoin to avoid asset loss.

ChainCatcher news, the Sui ecosystem decentralized perpetual contract protocol Bluefin tweeted to announce the launch of its new token BLUE on December 11, 2024.Previous news, the Sui ecosystem decentralized trading platform Bluefin announced its tokenomics, with a maximum supply of 1 billion tokens.

ChainCatcher news, according to Bloomberg, large financial companies such as Standard Chartered Bank and Virtu Financial Inc. are preparing to join a new cryptocurrency derivatives trading platform in London.The trading platform Global Futures and Options Ltd. (referred to as GFO-X) announced on Monday that it has signed agreements with ABN Amro Clearing and market maker IMC, and it expects to launch in the first quarter of next year. GFO-X is supported by M&G Investments (the asset management division of pension giant M&G Plc).GFO-X will handle trading of Bitcoin index futures and options, initially planned to go live by the end of 2023, but it failed to launch on schedule due to two delays. The trading on GFO-X will be cleared by LCH SA, which is owned by the London Stock Exchange Group.

ChainCatcher news, Sushi CEO Jared Grey posted on social media that he plans to launch multiple products in 2025, including:Wara (wara.exchange): A new integrated trading experience based on Solana;Susa (susa.exchange): A brand new on-chain order book perpetual DEX launched by Sushi;Kubo (kubo.bid): A new native perpetual contract product launched by Sushi Labs, starting new markets through delta-neutral strategies;Blade (part of SushiSwap): A new LVR AMM solution that eliminates MEV for blue-chip assets;SushiSwap aggregator: This product is already in production but will expand its distribution through the integration of new partners.In addition, Jared Grey hinted at future airdrops.

ChainCatcher news, the Shanghai No. 2 Intermediate People's Court released a white paper on "Balancing Punishment and Governance" in criminal trials, which disclosed that since 2019, over 600 criminal cases related to quasi-financial trading platforms have been concluded. In terms of investment types, the investment schemes in quasi-financial trading platform crimes are diverse and constantly evolving, shifting from initial investments in physical items like stamps and paintings to financial investments such as futures, options, stocks, and foreign exchange trading, and now extending into emerging fields like NFTs (digital collectibles) and digital currencies.From the statistical data, the top three investment schemes by case volume are futures, stocks, and virtual currencies, accounting for approximately 50%, 20%, and 11%, respectively. Criminals often use WeChat public accounts, mini-programs, and live broadcasts to extensively promote so-called "virtual currencies," leading to an expanding range of related illegal information and a continuous increase in the number of victims.

ChainCatcher news, according to Bloomberg, informed sources revealed that the online brokerage firm eToro, which offers cryptocurrency and stock trading, is collaborating with Goldman Sachs to prepare for an initial public offering (IPO) in the United States. eToro is considering going public as early as the second quarter, although this timeline may change. The company stated that its listing valuation could exceed the $3.5 billion achieved in last year's private financing. Informed sources indicated that details such as the issuance timing may change, and more banks may join the list.Previously, eToro attempted to go public with a valuation of $10.4 billion by merging with a special purpose acquisition company led by serial trader Betsy Cohen. Both parties mutually agreed to terminate the transaction at the end of 2022.

ChainCatcher news, the modular L1 network U2U Network project token U2U will be listed on Kucoin, Gate, BingX, and MEXC exchanges on December 10 at 10 AM (UTC).Additionally, according to the Web3 asset data platform RootData, U2U Network is a DAG-based blockchain compatible with EVM, focusing on providing infinite scalability and on-demand decentralization.

ChainCatcher news, Bitget announced the launch of the cryptocurrency trading platform BitEXC in the Vietnamese market, providing users with a rich array of trading services, including spot trading and futures trading. The Bitget protection fund, valued at over $300 million, will also cover all users on the BitEXC platform. At the same time, the platform has introduced a VIP service system that supports personalized account management and exclusive benefits to meet the diverse needs of high-end users.As an important market for cryptocurrencies globally, about 21.2% of Vietnam's population holds digital assets, ranking second in the world. In response, Gracy Chen, CEO of Bitget and BitEXC, stated: "Vietnam has shown tremendous potential in the cryptocurrency space. Through BitEXC, we are committed to providing innovative solutions for local users, empowering the community, and promoting the adoption and sustainable development of cryptocurrencies in Vietnam."The launch of BitEXC marks an important step for Bitget in the Southeast Asian market and further strengthens its global layout.

ChainCatcher news, XION announced on X that the $XION token will be launched on Bybit and Bitget on December 5 at 10 AM (UTC) and will open Dual Launchpool trading.Prize pool: 1,000,000 XION can be claimed on Bybit; 330,000 XION can be claimed on Bitget.According to RootData, XION is a Layer 1 blockchain designed specifically for consumer applications, providing a tailored seamless user experience for everyday users. Through its innovative Chain Abstraction infrastructure, XION simplifies complex crypto interactions and offers features such as protocol-level account abstraction, gasless transactions, signature abstraction, cross-device usage, and fiat pricing.

ChainCatcher news, Fuzzland co-founder Chaofan Shou stated on social media that the decentralized trading platform Clipper was hacked due to an API vulnerability (such as private key leakage). Currently, losses exceed $500,000, with $6.5 million at risk. He urges users to withdraw their funds immediately.