Morning News | Circle obtains financial services license in Abu Dhabi Global Market; Bitget Wallet is raising funds at a valuation of $2 billion; HASHKEY reveals IPO details
Overview of Important Market Events on December 9整理：ChainCatcher
Important News:
- Trump announces allowing Nvidia to sell H200 chips to China, with a 25% export fee
- HASHKEY reveals IPO details: plans to raise up to 1.67 billion yuan, expected to be listed on December 17
- Bitget Wallet founder reveals Bitget Wallet is raising funds at a valuation of $2 billion
- Circle obtains financial services license in Abu Dhabi Global Market
- Zhao Changpeng: The four-year Bitcoin cycle may have failed, and a "super cycle" may be coming
- YZi Labs announces the list of selected projects for EASY Residency Season 2
- Hassett: The Federal Reserve has room to cut rates by more than 25 basis points
What important events happened in the past 24 hours?
Trump announces allowing Nvidia to sell H200 chips to China, with a 25% export fee
According to ChainCatcher, U.S. President Trump stated on December 8 that the U.S. government will allow Nvidia to sell its H200 artificial intelligence chips to China, but will impose a 25% fee on each chip. The H200 is considered Nvidia's "second strongest" AI chip. Trump mentioned that the U.S. Department of Commerce is finalizing the relevant details, and the same arrangements will apply to AI chip exports from companies like AMD and Intel.
After the announcement, Nvidia's stock price rose 1.2% in after-hours trading. Reuters pointed out that this decision indicates a shift in the Trump administration's AI chip policy towards China, as Nvidia CEO Jensen Huang had been lobbying the U.S. government to ease export restrictions for several months.
Reports quoted Huang's view that the Chinese market is crucial for the competitiveness of the U.S. AI industry, and stable U.S.-China trade helps avoid dual damage to both sides' industrial chains. The Chinese Foreign Ministry previously stated that the U.S. should take practical actions to maintain the stability of the global supply chain.
BMW adopts JPMorgan's blockchain settlement system Kinexys to automate foreign exchange transfers
According to ChainCatcher, German automaker BMW AG has begun using a blockchain-based system to automate some foreign exchange transactions, as companies increasingly seek to leverage the technology behind cryptocurrencies to accelerate and simplify billions of dollars in cross-border payment processes.
The company is using JPMorgan Chase & Co.'s Kinexys platform, which automatically transfers euros from its Frankfurt account when BMW's dollar account balance in New York falls below a set threshold.
Hassett: The Federal Reserve has room to cut rates by more than 25 basis points
According to ChainCatcher, Hassett, the director of the White House National Economic Council, stated that he is affirmative regarding whether the Federal Reserve has room to cut rates by more than 25 basis points.
YZi Labs announces the list of selected projects for EASY Residency Season 2
ChainCatcher reports that YZi Labs today announced the full list of selected companies and founders for EASY Residency Season 2, who will showcase their results for the first time at the Demo Day during Binance Blockchain Week. This season's selected projects cover Web3, AI, and Biotech fields.
YZi Labs believes that the next decade will be shaped by the integration of three forces: blockchain unlocking ownership, scalability, and global liquidity; AI accelerating creativity, labor, and intelligence; and Biotech extending health and longevity. EASY Residency aims to support founders creating breakthrough technologies and unlocking global mass distribution, with project directions ranging from AI-driven drug discovery and robotic automation to financial primitives and infrastructure empowering a tokenized future.
White House Press Secretary: Trump will deliver an economic-positive speech in Pennsylvania today
According to ChainCatcher, White House Press Secretary Levitt stated that U.S. President Trump will deliver an economic-positive speech in Pennsylvania today.
Zhao Changpeng: The four-year Bitcoin cycle may have failed, and a "super cycle" may be coming
According to ChainCatcher, Binance founder Zhao Changpeng CZ stated that the four-year Bitcoin cycle may have failed, and we may be entering a "super cycle."
ChainCatcher reports that HASHKEY HLDGS (new listing number: 03887) plans to conduct an IPO from today until December 12. The parent company of Hong Kong licensed virtual asset exchange Hashkey Exchange, HASHKEY plans to issue 240 million shares, with 10% for public offering in Hong Kong, and the offering price ranging from 5.95 to 6.95 yuan, aiming to raise up to 1.67 billion yuan, with a minimum entry fee of 2808 yuan for 400 shares.
HASHKEY is expected to be listed on December 17. JPMorgan, Cathay Securities, and Guotai Junan International are the joint sponsors.
As of October 31, HASHKEY had 1.48 billion yuan in cash and cash equivalents and digital assets worth 570 million yuan, with mainstream tokens accounting for 89% of the digital assets, including ETH, BTC, USDC, USDT, and SOL.
As of the end of September, the platform's assets exceeded 19.9 billion yuan, with 3.1% stored in hot wallets and 96.9% in cold wallets. The exchange's spot trading volume totaled 1.3 trillion yuan. The main business is trading facilitation services, accounting for nearly 70% of revenue.
In the past three years, HASHKEY reported losses of 590 million yuan, 580 million yuan, and 1.19 billion yuan, respectively.
In the first six months of this year, HASHKEY's loss attributable to equity shareholders was 510 million yuan, narrowing by 34.8% year-on-year, while revenue fell by 26.1% to 280 million yuan.
Regarding the use of net proceeds: 40% will be used for technology and infrastructure iteration, 40% for market expansion and ecosystem partnerships, 10% for operations and risk management, and 10% for working capital and general corporate purposes.
Bitget Wallet founder reveals Bitget Wallet is raising funds at a valuation of $2 billion
According to ChainCatcher, 0xKevin, founder of UXUY and Bitget Wallet (formerly BitKeep), revealed on the X platform that Bitget Wallet is raising funds at a valuation of $2 billion. 0xKevin expressed his blessings on this matter, stating, "The on-chain space is no longer a geek paradise, but the main battlefield for stablecoins. The on-chain trading entry is becoming the gateway to new finance. The competition for the next generation of on-chain trading entry has just begun."
Grayscale: Bitcoin market structure no longer follows the "four-year cycle," institutional capital inflows and macro environment are reshaping BTC price trends
According to ChainCatcher, Grayscale stated that the Bitcoin pricing model driven by halving, which shaped Bitcoin's early history, is losing its influence. As more Bitcoin enters circulation, the relative impact of each halving is diminishing. Grayscale pointed out that the current Bitcoin market is more dominated by institutional capital rather than retail speculation, which was predominant in past cycles.
Unlike the explosive rises in 2013 and 2017, the recent Bitcoin rally has been more controlled. Grayscale believes that the subsequent 30% correction resembles a typical bull market correction. Interest rate expectations, bipartisan pushes for crypto regulation in the U.S., and the trend of Bitcoin integrating into institutional portfolios are increasingly shaping market trends.
According to ChainCatcher, deployer, co-founder of the AI agent platform Bankr, stated on the X platform that the recently discussed issue of "duplicate counting" in trading volume originates from the data collection methods of third-party data panels, rather than flaws in Polymarket's own data. He emphasized that there are no essential errors in Polymarket's trading volume records.
Deployer pointed out that Paradigm is amplifying the related controversy and negatively interpreting Polymarket because Paradigm itself is an investor in Kalshi, thus having a clear competitive stance. He bluntly stated that such behavior is "purposeful and poorly executed," believing that Paradigm's motives to smear competitors are evident.
ChainCatcher previously reported that the founder of Paradigm stated that Polymarket had data bugs, with trading volume being counted multiple times in most public data.
According to ChainCatcher, Ethereum co-founder Vitalik Buterin stated that he has previously complained about the Ethereum Foundation's lack of experience in the P2P network layer, with more focus on cryptoeconomics, BFT consensus, and block layer, often taking the network layer for granted. However, the situation has changed, and the performance of PeerDAS proves this.
He stated that members of the foundation, such as @raulvk, have made "heroic contributions" in promoting the smooth operation of PeerDAS and formulating a roadmap for faster propagation, stronger resistance, and parallel enhancement of network privacy, and he looks forward to further progress.
According to ChainCatcher, Kevin Hassett, director of the White House National Economic Council, stated that it would be "irresponsible" for the Federal Reserve to pre-set its interest rate target plan for the next six months, emphasizing the importance of following economic data.
Hassett said in an interview with CNBC on Monday, "The duty of the Federal Reserve Chair is to observe data, adjust policies, and explain the reasons behind their actions. Therefore, if someone says, 'I will do this in the next six months,' that is indeed irresponsible."
Coinbase CEO: The golden age of cryptocurrency has arrived, and the U.S. is back on the offensive
According to ChainCatcher, Coinbase CEO Brian Armstrong stated at the New York Times DealBook Summit that the cryptocurrency era is no longer a survival battle but a race for acceleration. The U.S. is "back on the offensive" with favorable policies, predicting market developments, and resetting finance.
"I am an optimist, right? I believe we are entering a golden age of freedom, with the proliferation of various financial products driving this transformation. In the crypto space, we are witnessing the booming rise of prediction markets. The regulatory framework for stablecoins is now clear. The market structure is expected to be reshaped, and the U.S. seems to be back on the offensive. We have the opportunity to upgrade the financial system with cryptocurrency, eliminating many obstacles in the economy. As the midterm elections approach, the government may stimulate the market and further cut rates. Therefore, I am generally optimistic, and we try not to be swayed by short-term trends."
Tether invests in Italian humanoid robotics company Generative Bionics' €70 million financing
According to ChainCatcher, The Block reported that stablecoin issuer Tether, along with AMD Ventures, Italy's state-supported AI fund, and other investors, participated in the €70 million (approximately $81.48 million) financing of Generative Bionics, a newly spun-off company from the Italian Institute of Technology.
This one-year-old company is developing new industrial humanoid robots with "embodied artificial intelligence," designed to operate in environments built for humans, capable of performing handling, towing, and repetitive tasks that traditional robotic arms struggle to execute easily. CEO Paolo Ardoino stated that this investment is part of a transition towards supporting "digital and physical infrastructure," expanding the company's business landscape beyond stablecoins and reducing dependence on increasingly concentrated systems under the regulation of large tech companies. Generative Bionics stated that its first industrial deployment plans are set to launch in early 2026, targeting industries including manufacturing, logistics, healthcare, and retail.
Circle obtains financial services license in Abu Dhabi Global Market
According to ChainCatcher, stablecoin issuer Circle announced via its official blog that it has obtained a financial services license (FSP) issued by the Abu Dhabi Global Market Financial Services Regulatory Authority, allowing it to operate as a currency service provider in the Abu Dhabi International Financial Centre (IFC).
Additionally, Circle appointed Dr. Saeeda Jaffar as Managing Director for the Middle East and Africa. Jaffar will leave Visa to join Circle, where she served as Senior Vice President and Group Country Manager for the Gulf Cooperation Council. She will lead Circle's regional strategy, deepen partnerships with financial institutions and enterprises, and promote the adoption of the company's digital dollar and on-chain payment solutions in the UAE and the broader Middle East and Africa market.
Meme Popularity Rankings
According to meme token tracking and analysis platform GMGN, as of December 10, 09:00,
The top five popular ETH tokens in the past 24 hours are: SHIB, LINK, PEPE, UNI, ONDO
The top five popular Solana tokens in the past 24 hours are: TRUMP, PENGU, MELANIA, Fartcoin, FO
The top five popular Base tokens in the past 24 hours are: PEPE, BASED, NATO, SKYA, IMGN
What are some interesting articles to read in the past 24 hours?
Underground Argentina: Jewish money houses, Chinese supermarkets, laid-back youth, and the impoverished middle class
In Argentina, even the dollar has failed.
Pablo's identity is somewhat special. Ten years ago, he was an employee of Huawei sent to Argentina, living in this South American country for two years; ten years later, he returned to his hometown as a Web3 developer to attend the Devconnect conference.
This ten-year perspective has made him a firsthand witness to a brutal economic experiment.
When he left back then, 1 dollar could only be exchanged for a dozen pesos; now, the black market exchange rate in Argentina has skyrocketed to 1:1400. According to the simplest business logic, this means that if you have dollars in your pocket, you should have king-like purchasing power in this country.
From "crime cycle" to value return, four major opportunities in the 2026 crypto market outlook
Ansem announced that the market has peaked, and CT refers to this cycle as "criminal."
Projects with high FDV (fully diluted valuation) and no actual application have drained the last penny from the crypto space. Memecoins packaged for sale have tarnished the crypto industry's reputation in the public eye.
Worse still, almost no funds have been reinvested into the ecosystem.
Farcaster co-founder Dan Romero (dwr) recently announced that the platform will undergo a major strategic adjustment, officially abandoning the "social-first" path it has adhered to for the past 4.5 years, and instead embracing a growth model driven by "wallet core."
It is reported that Farcaster's initial positioning was as a decentralized social network where developers could build novel social networks. It is an open protocol that can support many clients, much like email. Users will always be able to freely move their social identities between applications, and developers will always be free to build applications with new features on the network.
This Thursday morning, the direction of risk assets will not be determined by the rate cut itself
What to focus on this week (December 9-12)? The core is the FOMC meeting on Thursday morning. Specifically, look at three things: whether there are changes in the dot plot, especially the median interest rate expectation for 2026, whether Powell's press conference language is dovish or hawkish, and whether there are multiple dissenting votes in the voting results.
What to focus on in mid to late December? The CPI for November will be released on December 18. If inflation data rebounds, the market may reprice expectations for rate cuts next year, challenging the narrative of the Fed "continuing to ease."
What to focus on in Q1 2026? First, the personnel changes at the Fed Chair. Powell's term ends in May 2026. Second, the ongoing impact of Trump's policies. If tariff policies expand further, they may continue to push up inflation expectations, constraining the Fed's easing space. Additionally, continue to monitor whether the labor market accelerates deterioration. If layoff data begins to rise, the Fed may be forced to accelerate rate cuts, leading to another script.
Risk warning
Risk warning
