早报 | SpaceX启动IPO进程，美国SEC发布加密货币托管指南

Moonbirds plans to issue the BIRB token on Solana in Q1 2026.

Market trends.

Market developments yesterday.

● Coinbase CEO: The US government has a strategic bitcoin reserve.

Coinbase CEO stated that the US government currently holds a strategic bitcoin reserve, and this situation will continue.

● Citibank predicts that the US non-farm employment report may reveal contradictory signals.

The US non-farm employment report, scheduled to be released next Tuesday, will include data for October and November. Citibank economists noted that the latest employment data might reveal more contradictory signals. It is expected that there will be a decrease of approximately 45,000 jobs in October, and an increase of 80,000 jobs in November. Citibank economists believe that this rebound may be due to seasonal adjustments in data. Citibank predicts that the unemployment rate will rise from 4.4% to 4.52%, while Reuters’ survey expects it to remain at 4.4%. The Federal Reserve predicts that the median unemployment rate will be around 4.5% by the end of the year.

● Barclays: Without significant catalysts, the crypto market could experience a “downward year” in 2026.

Barclays predicts that crypto transaction volumes could decline in 2026. Currently, there are no clear catalysts to boost market activity. The bank pointed out that the slowdown in the spot market is putting pressure on revenues for platforms like Coinbase and Robinhood, which target individual investors. Although the market faces multiple obstacles in the short term, regulatory clarity—including pending laws related to market structure—could pave the way for long-term growth in the market.

● Robinhood is tokenizing stocks on Arbitrum.

Token Terminal reported on the X platform that Robinhood has tokenized stocks on Arbitrum, with the total market value of these tokens recently exceeding $13 million. Johann Kerbrat said, “Ethereum provides us with native security features, while Arbitrum offers the necessary engineering flexibility we need.”

● Michael Saylor hinted at MicroStrategy’s potential increase in Bitcoin holdings

On December 14th, Michael Saylor, founder of Strategy, announced further information regarding his holdings in Bitcoin. According to past patterns, Strategy usually announces such announcements the day after the release of relevant news.

● SpaceX has initiated the IPO process and is seeking consulting services from Wall Street banks

Sources familiar with the matter revealed that SpaceX executives are working to select a Wall Street bank to provide consulting services for their initial public offering. It is understood that the banks are scheduled to conduct preliminary presentations next week, marking a significant step toward what could be a major IPO for SpaceX. Last Friday, SpaceX informed its employees that it is preparing for a possible public offering next year. Earlier this month, The Wall Street Journal reported that SpaceX is also considering another round of stock sales, with this sale potentially valuing the company at around $800 billion, compared to the $400 billion achieved this summer.

● A certain smart money account has opened short positions in 1000 BTC, valued at $89.6 million

The smart money account pension-usdt.eth has opened short positions with a leverage of three times the amount of BTC, totaling $89.6 million.

● Wu Jie Zhuang: There will be no significant changes in the development of stablecoins in Hong Kong. The industry will continue to progress steadily

Hong Kong Legislative Council member Wu Jiezhuang posted on social media, saying, “There were many questions regarding the development of Web3 in Hong Kong earlier on. These questions included the future direction of stablecoins and the development of RWA. Since I didn’t address each of these issues thoroughly during the election process, I would like to share my views here: I believe that there won’t be significant changes in the development of stablecoins in Hong Kong; they will continue to progress steadily. The stablecoin regulations passed by the seventh legislative council after lengthy deliberation and discussion. I believe that the overall development will be guided by the actual financial environment in both international and Hong Kong contexts, progressing steadily. We should start with the local market as a trial, with the goal of expanding into the international market and leveraging Hong Kong’s status as a financial and tech hub. RWA is a topic that has been widely discussed in both traditional and Web3 industries. Hong Kong has already implemented regulatory sandbox initiatives. I believe that under these initiatives, we can explore the importance of compliance development and future regulatory directions. I think different industries can try combining Web3 technologies, which could lead to the development of numerous practical applications. The demand from developers is increasing rapidly. Over the past three years, Hong Kong has attracted many Web3 companies through its policies, resulting in a growing demand for related development efforts. The Hong Kong Special Administrative Region Government has been working hard to develop the Northern District and Lo Wu areas, attracting businesses and fostering talent. More and more enterprises are establishing themselves in Hong Kong, focusing on Web3 blockchain networks, compliant exchanges, and underlying infrastructure. I started my career as a developer myself, and I understand that the success of developers and tech companies is closely linked. In the future, I will help create a talent ecosystem for the industry, encouraging more developers and professionals to settle in Hong Kong.”

● Trump: He prefers Wash or Haselet to lead the Fed. Interest rates should not exceed 1% in one year.

U.S. President Trump said in an interview on Friday at the Oval Office that both Kevin Wash and Haselet are excellent candidates, and several other candidates are also strong.

According to people familiar with the matter, Trump held a 45-minute meeting with Wash at the White House on Wednesday. During the meeting, Trump pressed Wash to ensure that he would support interest rate cuts if he were elected as the Fed chairman. Trump confirmed this in the interview: “He believes that interest rates need to be lowered. Everyone I talked to agrees with this view.” Trump said that he thinks the next Fed chairman should seek his advice when making decisions regarding interest rates.

When asked about expected interest rate levels in one year, Trump said: 1%, maybe even lower. We should have the lowest interest rates in the world. Lowering interest rates will help the Treasury Department reduce the cost of financing its $30 trillion in government debt.

● The U.S. SEC has issued guidelines for cryptocurrency custody.

According to Cointelegraph, the U.S. Securities and Exchange Commission (SEC) released guidelines for investors regarding cryptocurrency wallets and custody services on Friday. These guidelines provide investors with information on best practices and common risks associated with storing cryptocurrencies.

The guidelines detail the advantages and disadvantages of various methods of cryptocurrency custody, including comparisons between self-custody and third-party custody. For investors choosing third-party custody, the SEC recommends that they understand the policies of the custodian, including whether they allow re-mortgaging of custody assets or mixing customer assets with those of other parties.

指南还分析了热钱包和冷钱包的特点。热钱包连接互联网但面临黑客攻击风险，冷钱包离线存储更安全但存在设备故障或私钥泄露导致永久损失的风险。

● 波兰内阁批准加密货币法规，法案待总统签署

波兰内阁已正式批准比特币和加密货币法规，该法案将提交给总统签署。

● 韩国监管机构未能按时提交韩元稳定币监管法案

本月初，韩国执政党呼吁各部委和金融服务委员会(FSC)在12月10日前提交一份韩元稳定币监管法案，但FSC未能按时提交该法案。FSC发言人表示，FSC需要更多时间与相关机构协调立场，与其急于赶在规定的最后期限前完成提案，不如在向国民议会提交法案的同时公布其提案。FSC称此举是为了保护公众对此事知情权。

● Berachain流动性质押协议Infrared宣布将于12月17日TGE

据官方公告，Berachain流动性质押协议Infrared宣布了IR代币空投详情。

空投面向早期社区成员、Boyco预存款活动参与者以及参与社区活动的用户。用户可通过中心化交易所预存款流程提前申领空投(注意：将在TGE当天才会收到代币)。预存款流程时间为12月13日12:00 UTC至12月15日17:00 UTC。用户需在Infrared官网开始流程，选择交易所并提交用户ID。

The IR token has three main functions: users can obtain sIR through staking to gain governance voting rights; revenue sharing is achieved through a repurchase mechanism, with a portion of the protocol fees going into the “Red Fund” for repurchasing IR tokens; additionally, token issuance is used to optimize protocol efficiency and generate income.

Applications from non-exchange participants will be accepted on the day of the Initial Token Offering. Key dates: IR tokens will be launched at 8:00 UTC on December 17th, and all applications will cease permanently at 12:00 UTC on January 12, 2026.

Previously, Berachain’s first liquid staking protocol, Infrared, completed a $14 million Series A financing, led by Framework Ventures.

● The Ethereum community has proposed the ERC-8092 standard for defining “associated accounts”. According to Merlijn The Trader, this standard allows accounts to establish sub-accounts through signed associations, thereby enabling secure delegation of permissions and maintaining a portable chain-based reputation. This standard can facilitate seamless collaboration between different blockchains and Layer2 networks. The proposal has already been submitted to Ethereum Magicians and GitHub.

● U.S. regulators have given preliminary approval for Ripple and Circle to establish trust banks.

U.S. regulators have granted preliminary approval to Ripple, Circle, and other cryptocurrency companies to establish national trust banks.

● Wang Yongli: China’s policy towards virtual currencies has become clearly defined.

中国银行原副行长王永利在公众号发文表示，“11月28日，人民银行等13个部门联合召开”打击虚拟货币交易炒作工作协调机制会议”，明确稳定币是虚拟货币的一种形式，强调要继续坚持对虚拟货币的禁止性政策，持续打击虚拟货币相关非法金融活动。由此，中国坚定推进数字人民币发展，坚决遏制虚拟货币的政策取向已经完全明确。

必须切实加快数字人民币的创新发展和国内外广泛应用，尽快形成其在国际支付上的独特优势，走出数字货币成功发展的中国之路。”

● Moonbirds拟于2026年Q1在Solana发行代币BIRB

Moonbirds母公司Orange Cap Games CEO Spencer在Solana Breakpoint大会上表示，Moonbirds计划于2026年第一季度在Solana网络发行代币BIRB。Spencer同时提出，团队未来将把Moonbirds打造成“Web3行业的泡泡玛特”，战略重点将聚焦于可收藏资产的发展，包括链上与现实世界(IRL)相结合的数字与实体收藏品布局。

● Cathie Wood称比特币为机构加密市场首选资产

Cathie Wood, founder of ARK Invest, stated that Bitcoin represents a completely new global monetary system and asset class. It remains the preferred choice for institutions to enter the crypto realm, and should be ranked at the top of institutional asset allocation. Ethereum, on the other hand, is an infrastructure option for institutions. However, as the number of L2 chains grows rapidly, it’s still worth observing whether Ethereum will become a commodity. Solana, however, tends to be more consumer-oriented. It has the potential to become part of institutional investments in the future.

● Long-term holders own a total of 14.35 million BTC, accounting for approximately 68.3% of the total supply.

According to data compiled by analyst Murphy, there are 153 companies that hold a “non-zero balance” of BTC. Among them, 29 listed companies hold a total of 1.082 million BTC, while the remaining listed companies hold 54,331 BTC. In addition to the BTC held by实体企業, spot ETFs currently hold 1.311 million BTC. The top three holders are BlackRock with 777,000 BTC, Fidelity with 202,000 BTC, and Gemini with 167,000 BTC. Governments around the world hold a total of 615,000 BTC, with the U.S. government holding the most, at 325,000 BTC, ranking first. Additionally, there are 3.409 million BTC that have been held for 10 years without any changes. Apart from some old trading platforms and those who truly believe in BTC, many of these BTC belong to those whose private keys have been lost or whose owners are difficult to trace. This includes over 1 million BTC owned by Satoshi Nakamoto himself. In total, all long-term holders own 14.35 million BTC, accounting for approximately 68.3% of the total BTC supply.

● The strategy will continue to include the NASDAQ 100 index.

According to Reuters, despite being under increasing scrutiny due to its large-scale accumulation of Bitcoin, Strategy (formerly MicroStrategy) will continue to be listed as a constituent stock in the NASDAQ 100 index. The annual adjustment of the index confirmed that Strategy will not be removed from the index, and its position will remain unchanged after the next round of adjustments.

Reports indicate that market attention to Strategy is mainly focused on its business model, which relies heavily on Bitcoin price fluctuations. However, this does not affect its status in the NASDAQ 100 index.

Michael Saylor commented on the news that Strategy will continue to be part of the NASDAQ 100 index, saying, “I will continue to accumulate Bitcoin until people stop complaining about it.”

● This week, tokens such as ZRO, ARB, and STRK will experience significant unlocking amounts.

According to Token Unlocks, tokens like ZRO, ARB, and STRK will experience significant unlocking this week. Specifically:

ZRO will unlock 25.71 million tokens on December 20, worth approximately $37.79 million, accounting for 6.79% of the total supply;

ARB will unlock 92.65 million tokens on December 16, worth approximately $19 million, accounting for 1.90% of the total supply;

STRK will unlock 127 million tokens on December 15, worth approximately $13.2 million, accounting for 5.07% of the total supply;

SEI will unlock 55.56 million tokens on December 15, worth approximately $6.93 million, accounting for 1.08% of the total supply;

LISTA will unlock 33.44 million tokens on December 20, worth approximately $5.34 million, accounting for 6.85% of the total supply.