Morning News | Binance Wallet now supports identifying malicious addresses; HashKey Capital's fourth fund raised $250 million in its first round; Upexi submitted a shelf registration application
Overview of Important Market Events on December 24整理：ChainCatcher
Important News:
- HashKey Capital's fourth fund completes first round of fundraising, raising $250 million
- Yi Lihua: Firmly believes now is the best time to buy ETH, especially optimistic about the bull market in 2026
- SOL treasury company Upexi submits shelf registration application, plans to raise up to $1 billion
- Central Bank and eight departments: Support exploring the promotion of cross-border digital RMB payment pilot between the mainland and Singapore
- Zhao Changpeng: Binance wallet now supports identifying malicious addresses, warnings will be issued for transfers to them
- Bitcoin will face the largest options expiration day in history this Friday, which may drive Bitcoin prices up
- The Mentougou hacker sold about 1,300 Bitcoins in the past week
What important events have occurred in the past 24 hours?
Bitcoin will face the largest options expiration day in history this Friday, which may drive Bitcoin prices up
According to ChainCatcher, approximately $23.6 billion worth of Bitcoin options will expire this Friday, marking the largest options expiration day in Bitcoin's history. Analysts point out that the scale of this expiration is enormous and overall bullish. The maximum pain point (the price level at which option buyers incur the most losses and sellers gain the most) is $96,000, which will reinforce the upward price trend.
The Mentougou hacker sold about 1,300 Bitcoins in the past week
According to ChainCatcher, recent market news indicates that analyst Emmett Gallic has monitored Aleksey Bilyuchenko, who has been accused by the U.S. Department of Justice as the Mentougou hacker. His associated entities deposited 1,300 BTC (worth approximately $114 million) into unknown trading platforms over the past seven days. These addresses still hold 4,100 BTC (worth $360 million). They have sold a total of 2,300 BTC.
Public information shows that Aleksey Bilyuchenko has been operating BTC-e, a notorious trading platform, with Alexander Vinnik since 2011, which has been accused of laundering money for global cybercriminals, including ransomware, identity theft, and drug trafficking.
BTC-e was shut down by law enforcement in 2017. The U.S. Department of Justice accused him and Aleksandr Verner of hacking Mt. Gox (then the world's largest Bitcoin exchange) since 2011, stealing approximately 647,000 Bitcoins (leading to Mt. Gox's bankruptcy). They were charged with conspiracy to launder money and using part of the proceeds to operate BTC-e.
China Property Investment Holdings plans to acquire digital assets like BNB as part of its strategic reserves
According to ChainCatcher, China Property Investment Holdings Limited (736 HK) announced that its board has resolved to advance its asset allocation plan: under the premise of complying with relevant laws and regulations and risk control, it plans to use its own funds to purchase and hold BNB and other suitable digital assets in the open market as strategic reserve assets.
Polymarket confirms user accounts were hacked due to third-party authentication vulnerabilities
According to ChainCatcher, Polymarket, a crypto prediction market platform, confirmed on December 24 that multiple user accounts were hacked due to security vulnerabilities in a third-party authentication provider. Affected users reported on social media that their funds were emptied even with two-factor authentication enabled. The issue seems to be related to the email login service provided by Magic Labs, which is commonly used by many first-time cryptocurrency users.
Polymarket stated that it has resolved this security issue and there is currently no ongoing risk, but did not disclose the number of affected users or the amount of losses.
According to ChainCatcher, crypto trader @DaanCrypto posted on the X platform that the market this month has been very flat, with no major events or significant fluctuations. Altcoins have fallen sharply, while Bitcoin and Ethereum have remained relatively stable.
Daan stated that the first quarter of 2026 will be a critical period for everyone to closely watch Bitcoin's movements, as it will have the opportunity to prove its strength.
Clearly, altcoins have experienced a bear market lasting one to two years, depending on the coin, with most altcoins peaking in early 2024.
According to ChainCatcher, Zhao Changpeng stated in a post on Binance Square that "the cryptocurrency industry should be able to completely eradicate address poisoning attacks to protect users. All wallets should simply check whether the receiving address is a poisoned address and block users.
This is a blockchain query. Wallets should not display these junk transactions anywhere. If the transaction value is very small, it should be filtered out. Security alliances in the industry should maintain real-time blacklists of these addresses so that wallets can check before sending transactions. Binance wallet has already done this. If users attempt to send to a malicious address, they will receive a warning.
HashKey Capital's fourth fund completes first round of fundraising, raising $250 million
According to ChainCatcher, HashKey Capital announced that it has completed the first round of fundraising for its fourth fund, HashKey Fintech Multi-Strategy Fund IV, raising $250 million. Previously, it announced that the final asset management scale target for the fund is $500 million. The investor composition is diverse, including institutional investors, well-known family offices, and high-net-worth individuals.
HashKey Capital stated that the fourth fund will adopt a diversified investment strategy, focusing on infrastructure, scalability, and large-scale application scenarios globally. The fund combines public market investment strategies and liquidity-creating cross-investment opportunities, and will selectively invest in private markets to enhance excess returns for innovative projects.
According to ChainCatcher, Yi Lihua, founder of Liquid Capital (formerly LD Capital), posted on social media stating, "I firmly believe now is the best time to buy ETH, especially optimistic about the bull market in 2026, with a future target for ETH exceeding $10,000. I recall the experience of 312, when BTC was hovering between $7,000 and $8,000, I experienced the true bear market for the first time and couldn't hold on, selling all my Bitcoins, successfully avoiding the massive crash of 312, but later it skyrocketed to $69,000, and I never bought back BTC. This is a huge failure case of missing out on tens of thousands of dollars for a few thousand dollars.
This time, the same script, successfully clearing out before 1011, but this time we choose to continue to accumulate because we don't want to miss out on thousands of dollars for a few hundred dollars. Trend investing and patiently waiting are the best strategies now; we know there will be a big rise eventually, just not which day."
Previously, it was reported that Yi Lihua's Trend Research increased its holdings by 46,000 ETH today, worth approximately $137 million.
Yi Lihua: Trend Research will prepare another $1 billion to continue increasing ETH holdings
According to ChainCatcher, Yi Lihua posted on the X platform stating that Trend Research is preparing to increase its funds by $1 billion and will continue to increase its holdings of ETH based on this. Yi Lihua advised against shorting and stated that this will be a historic opportunity.
ICBC Singapore branch achieves innovative pilot for overseas recharge of digital RMB personal wallets
According to ChainCatcher, Xinhua Finance reported that under the joint guidance of the People's Bank of China Digital Currency Research Institute and the Monetary Authority of Singapore, ICBC Singapore branch has actively implemented the digital RMB cooperation results announced at this year's China-Singapore bilateral cooperation joint committee (JCBC) and successfully launched an innovative pilot for overseas recharge of digital RMB personal wallets.
Singapore tourists only need to register a wallet on the digital RMB client and can complete digital RMB recharges through ICBC Singapore branch's personal mobile banking, enabling convenient payments for transportation, tourism shopping, dining, and accommodation in China.
VanEck: Bitcoin is expected to be one of the best-performing assets in 2026
According to ChainCatcher, Bitcoin has disappointed investors this year, underperforming gold and the tech-heavy Nasdaq 100 index, despite earlier expectations that it would benefit from fiat currency depreciation.
However, according to a manager at VanEck, this largest crypto asset may be preparing for a significant comeback next year.
David Schassler, head of multi-asset solutions at VanEck, stated in the company's recent 2026 outlook: "Bitcoin's performance has lagged the Nasdaq 100 index by about 50% this year, and this misalignment makes it likely to be one of the best-performing assets in 2026."
Schassler wrote that although this year's weakness reflects a decrease in risk appetite and liquidity tightening, Bitcoin's fundamentals remain solid. He added, "As (currency) depreciation accelerates and liquidity returns, Bitcoin has historically reacted violently," "We have been buying," he stated.
Schassler's broader argument focuses on the powerful combination of currency depreciation, technological transformation, and the rise of hard assets. The asset management company believes that funding future liabilities and political ambitions will increasingly rely on money printing, driving investors towards scarce value storage methods like gold and Bitcoin.
SOL treasury company Upexi submits shelf registration application, plans to raise up to $1 billion
According to ChainCatcher, Upexi (UPXI), a SOL treasury company listed on the U.S. stock market, has submitted a shelf registration application to the U.S. Securities and Exchange Commission (SEC), planning to raise up to $1 billion through the issuance of common stock, preferred stock, debt instruments, warrants, or other securities.
Upexi currently holds approximately 2 million SOL tokens (worth about $248 million), making it the fourth-largest publicly traded company holding Solana assets. The company stated that the proceeds from the financing will be used for general purposes such as working capital, research and development, acquisitions, and debt repayment.
Notably, Upexi's stock price fell about 7% to $1.85 on Tuesday, down about 50% year-to-date, while SOL's price dropped 34% during the same period. In addition to cryptocurrency assets, the company also manages several consumer brands, including Cure Mushrooms medicinal products and Lucky Tail pet care products.
Market news: H200 chip sales plan to China is basically confirmed
According to ChainCatcher, market news reported by Jin10 Data indicates that Nvidia has informed Chinese customers that it plans to deliver H200 chips in mid-February 2026. The total expected shipment is 5,000 to 10,000 modules, approximately 40,000 to 80,000 H200 chips. In response, Nvidia stated, "We are continuously managing our supply chain, and selling H200 to authorized customers in China will not affect our ability to supply global customers."
According to Nvidia's statement, the plan for H200 sales to the Chinese market is basically confirmed. Meanwhile, sources indicate that Nvidia CEO Jensen Huang will visit China in January 2026. Sources also stated, "The price of the H200 8-card module given to the channel by Nvidia is 1.4 million yuan, which is slightly more expensive than the H20."
According to ChainCatcher, Jin10 Data reported that the People's Bank of China and eight departments issued the "Opinions on Financial Support for Accelerating the Construction of the New Western Land-Sea Corridor." The "Opinions" propose exploring international cooperation in digital finance.
Support provinces (regions, cities) along the route to participate in multilateral central bank digital currency bridge projects, promoting the use of central bank digital currencies for cross-border payments with Thailand, Hong Kong, the UAE, Saudi Arabia, and others. Support exploring the promotion of cross-border digital RMB payment pilot between the mainland and Singapore. Support provinces (regions, cities) along the route with conditions to build cross-border e-commerce digital service platforms, connecting with cross-border e-commerce and trade digital platform companies in countries like Singapore to enhance cross-border e-commerce service capabilities.
According to ChainCatcher, the Bank of Korea's latest financial stability report shows that the activity level of the Korean crypto market remains higher than the global average, at 157% and 112%, respectively. However, as Bitcoin is expected to surpass $100,000 in 2025, the behavior of retail investors in Korea has shifted from actively building positions to concentrating on profit-taking and significant cashing out.
The report points out that 91.2% of trading volume in the Korean crypto market is contributed by the top 10% of accounts, leading to increased market manipulation risks. The Bank of Korea warns that if institutional and ETF access is relaxed, the vulnerability of the Korean market in global fluctuations will intensify. Currently, related hot money has shifted to the local Korean stock market and U.S. leveraged ETFs.
Meme Popularity Rankings
According to the meme token tracking and analysis platform GMGN, as of December 25, 09:00,
The top five popular tokens in the past 24 hours for ETH are: SHIB, LINK, PEPE, UNI, ETHFI
The top five popular tokens in the past 24 hours for Solana are: TRUMP, Fartcoin, ME, FO, PUMP
The top five popular tokens in the past 24 hours for Base are: PEPE, MINKY, BASED, NATO, SKYA
What are some interesting articles worth reading in the past 24 hours?
On December 20, 2025, a technical article titled "Reverse Engineering Hyperliquid" published on blog.can.ac directly dismantled Hyperliquid's binary files through reverse engineering, accusing it of nine serious issues ranging from "insolvency" to "God mode backdoor." The article bluntly states:
"Hyperliquid is a centralized trading platform disguised as a blockchain."
In response to the FUD, Hyperliquid officially released a lengthy response, which may not only be a simple refutation but also a declaration of war over "who is the true decentralized trading facility." Although the official response successfully clarified the issue of fund security, it still left some intriguing "gaps" in certain sensitive areas of decentralization.
This study analyzed Bitcoin data from 49 countries from 2011 to 2023, revealing a counterintuitive finding: while the legalization of Bitcoin can promote the establishment of trading platforms, countries that declare it illegal see trading volumes increase by more than 130%.
The study found that the decentralized and anonymous characteristics of Bitcoin render traditional regulatory logic ineffective. Major corruption undermines the positive effects of legalization but strengthens the surge in trading brought about by illegality. Minor corruption acts as a "lubricant" in environments of major corruption, helping entrepreneurs circumvent bureaucratic obstacles. Interestingly, decentralized Bitcoin actually relies on centralized trading platforms for development, with 92.3% of transactions occurring on centralized exchanges.
Read Messari's 100,000-word report in 10 minutes: 60 Crypto Trends for 2026
This article summarizes Messari's 100,000-word annual report, combining AI and human input to outline the following 60 crypto trends for 2026.
If L1 does not have real growth, crypto money will increasingly flow to Bitcoin.
ETH is still Bitcoin's "little brother" and not an independent leader. ETH has institutional and corporate support, can earn alongside Bitcoin, but cannot stand firm on its own yet.
ZEC's correlation with Bitcoin has dropped to 0.24, serving as Bitcoin's privacy hedge.
Application-specific currencies (such as Virtuals Protocol, Zora) are emerging trends in 2026.
Where are the opportunities in the ecosystem of prediction market peripheral services in 2026?
The real value of prediction markets lies in the accumulation of funds, with clear expiration dates and corresponding asset reserves. If Polymarket wants to outperform Kalshi in terms of capital efficiency, its scale expansion has already reached a phase limit.
In other words, compared to trading assets, Wall Street and the crypto circle are currently in an irrational frenzy phase regarding information pricing, whether it is TGE or IPO, whether issuing stablecoins or building L1/L2, these are all expected routine actions.
Risk warning
Risk warning
