In the past hour, total liquidations across the network reached $10.20 million, with $2.56 million from long positions, with $7.64 million from short positions. BTC liquidation $1.72 million, ETH liquidation $949,730.25.

Odaily Planet Daily reports that Story, a programmable IP blockchain, has announced a partnership with EigenCloud, a verifiable decentralized computing platform, to jointly build a "Verifiable Intelligence" system. This system will enable end-to-end verification of AI data, models, execution, and payments. It will propel AI from a black box to an open network that is auditable, provable, and settlementable: data and models will have on-chain proof of origin, training and inference will generate execution credentials, and licensing and revenue distribution will be automated. This collaboration will support AI agents in autonomously discovering, invoking, and paying for on-chain skills, accelerating the development of a verifiable AI economy and agency-based business models.

Odaily Planet Daily reports that a user's account was recently restricted to a "no receiving, no sending" status by China Construction Bank (CCB) after the words "Dogecoin" appeared in the bank transfer remarks, drawing attention. The user stated that several months ago, they and their spouse transferred 250 yuan of pocket money between their CCB accounts, with the remark "Dogecoin this week." Subsequently, both received calls from the bank to verify their relationship and the meaning of the remark, and were informed that the remark triggered "virtual currency control" risk monitoring. CCB staff requested relevant bank card statements and a written commitment to prove that the transfer was not a virtual currency transaction; only after the verification was approved could the account be unblocked. Some branch staff stated that if the transfer remarks contain virtual currency keywords, proof that it is unrelated to virtual currency is required; otherwise, the account may not be unblocked and may have to be closed. In response, CCB customer service stated that the bank does not conduct virtual currency transactions, but if the system identifies high-risk behavior, the account may be temporarily restricted from trading; the specific judgment criteria need to be explained by the opening bank or account manager. Industry insiders pointed out that the relevant handling is related to the bank's internal risk control and regulatory requirements. According to Xinhua News Agency, on December 5th, seven associations, including the National Internet Finance Association of China, jointly issued a risk warning, requiring member units to refrain from participating in the issuance and trading of virtual currencies and related tokens within China, and reminding the public to be vigilant about related risks. (Sina Finance)

According to Odaily Planet Daily, Binance only froze a portion of the funds after receiving a request from South Korean police to freeze stolen Upbit crypto assets. The report states that after Upbit was hacked on September 27th, the stolen assets were laundered through multiple layers of transfers, splits, and cross-chain operations, with most of the funds ultimately flowing into third-party service wallets on the Binance platform. Police and Upbit requested Binance to freeze approximately 470 million won worth of Solana tokens on the morning of the incident, but Binance only froze approximately 80 million won, or about 17% of the requested amount, citing the need for further verification. The freezing was completed approximately 15 hours after the request. Regarding the partial freezing and the delay in processing, Binance responded that it could not provide specific details about the ongoing investigation in principle, but would continue to cooperate with relevant law enforcement agencies and partners according to established procedures. Blockchain researchers pointed out that rapid initial freezing after a hack is crucial to minimizing losses and suggested establishing a global emergency cooperation mechanism between exchanges to improve emergency response efficiency. The report also stated that the hackers had converted most of their Solana assets into Ethereum, possibly due to its higher market liquidity and relatively easy subsequent monetization. (KBS)

According to Odaily Planet Daily, the Japanese National Tax Agency announced the results of its tax investigations for fiscal year 2024 (July 2024 to June 2025) on December 11. The results showed that 613 on-site investigations were conducted against individuals involved in cryptocurrency transactions, resulting in the recovery of approximately 4.6 billion yen in taxes, an increase of about 31.4% compared to 3.5 billion yen in the previous fiscal year. The number of investigations also increased by about 14.6% year-on-year. The National Tax Agency pointed out that cryptocurrency-related cases saw significantly higher tax recoveries per transaction and higher rates of underreported income compared to the overall average for on-site income tax investigations. Current tax investigations focus on the accuracy of profit and loss calculations, the completeness of transaction records, and the reporting of special transactions such as DeFi, airdrops, mining, and staking. If multiple domestic or international exchanges are involved, all profits and losses must be reported together; otherwise, it may be considered an omission in the reporting. Furthermore, the National Tax Agency stated that it has continuously strengthened the collection and analysis of data on internet transactions and introduced AI technology to assist in screening investigation targets. If an entity is found to have underreported or failed to file tax returns, in addition to paying back taxes, it may also be subject to late payment taxes and surcharges. The maximum surcharge for non-reporting can be 20%, and if there is intentional concealment or falsification, the recalculation tax rate can reach as high as 35% to 40%. At the tax system level, the Japanese government and ruling party are discussing changing the current comprehensive taxation of income from crypto assets to a separate taxation system similar to stocks, with a potential uniform tax rate of 20%, and the introduction of a profit and loss accounting and loss carry-forward mechanism. The relevant reform directions are expected to be further clarified in the tax reform outline at the end of the year. (CoinPost)