Token | Trading Volume 【BTC】28.32 billion 【TNSR】32.45 million 【LGNS】35.05 million 【BEAT】51.19 million 【APT】81.62 million 【PAXG】141.41 million 【AAVE】223.16 million 【ICP】65.01 million 【ORDI】65.84 million 【ETHW】7.48 million

Odaily Planet Daily reports that Kate Irwin posted on the X platform that cryptocurrency venture capital firm Shima Capital has quietly withdrawn from the market. Three weeks ago, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Shima Capital and its founder, Yida Gao, accusing him of "participating in a scheme to defraud" specific investors. An insider provided screenshots of emails sent by Yida Gao to the founders of portfolio companies, showing that Gao was resigning and gradually ending the fund's operations. The email stated, "I deeply regret the wrong decision I made and apologize to you for letting me down." Shima Capital was founded in 2021 with an initial capital of $200 million and had invested in several cryptocurrency projects, including Berachain, Monad, Pudgy Penguins, Sleepagotchi, and Gunzilla.

According to an article published by Delphi Digital on X, as reported by Odaily Planet Daily, the valuation premium for Layer 1 is disappearing. The shift from "fat protocols" to "fat applications" has been ongoing for some time, but the market is only now beginning to price it in. Market demand for homogeneous infrastructure is weakening, and investor expectations have shifted. Major public chains are facing increasing pressure to demonstrate real and sustainable recurring revenue. Stablecoins may be a solution; currently, over $30 billion worth of USDC and USDT are deployed on various alternative Layer 1 and Layer 2 networks, generating over $1 billion in revenue annually for Circle and Tether. The ecosystem that truly drives demand for these stablecoins generates approximately $800 million in transaction fees. Many public chains have recognized this and are beginning to internalize the economics of stablecoins rather than continuing to subsidize issuers.

Odaily Planet Daily reports that HashKey Holdings (03887.HK) officially listed on the Hong Kong Stock Exchange at 9:30 AM today. The offering price was HK$6.68 per share, but the share price has already fallen to HK$6.53, breaking the offering price within an hour of listing. The share price reached a high of HK$7.12 and a low of HK$6.12 during the trading session. Previous reports indicated that HashKey Holdings raised approximately HK$1.67 billion. The Hong Kong public offering was oversubscribed by 393.71 times, and the international placement was also oversubscribed.

Huoxun Finance News, December 17th - According to Jinshi News, citing sources familiar with the matter, the Wall Street Journal reported that President Trump will interview current Federal Reserve Governor Waller Waller on Wednesday to discuss his nomination for Federal Reserve Chair. Trump interviewed former Federal Reserve Governor Kevin Warsh last week. Trump stated that Warsh and Hassett are currently his two favorite candidates. This year, Waller has become a leading voice within the Federal Reserve advocating for interest rate cuts. At the Fed's July meeting where interest rates were kept unchanged, Waller voted against a rate cut. Waller is the most favored candidate for Fed Chair among economists and is highly regarded on Wall Street. His arguments on interest rate cuts this year are considered logically clear, consistent, and that he is capable of bridging the widening divisions within the Fed. Several of his arguments on interest rate cuts have been adopted by current Chairman Powell. Waller will speak on the economic outlook on Wednesday evening Beijing time.