Morning News | Ethereum L2 network Base has launched a Solana cross-chain bridge. Lighter also annou

The US spot XRP ETF has experienced net inflows for 13 consecutive days, with a total amount of $874 million.

Market updates.

Market trends yesterday.

● BlackRock CEO calls Bitcoin an “asset of fear”; he owns 780,000 BTC.

BlackRock CEO Larry Fink stated at the DealBook Summit on December 3 that Bitcoin is an “asset of fear”. He believes that people hold Bitcoin due to concerns about personal safety and financial security. When uncertainty increases, Bitcoin prices rise; when fears diminish, prices fall. He pointed out that Bitcoin differs from the $13.5 trillion in assets managed by BlackRock, as those assets represent “hope”. In 2017, Larry Fink described Bitcoin as an “indicator of money laundering and theft”. Currently, BlackRock manages the world’s largest Bitcoin ETF, holding over 780,000 BTC, valued at approximately $80 billion.

● The market expects the Federal Reserve to cut interest rates by 25 basis points in December.

On December 4 at 20:30 UTC+8, the US will release data on the number of job cuts by challenger companies in November. At 21:30 UTC+8, data on the number of initial job applications will be released, with an expected figure of 220,000. Additionally, at 23:00 UTC+8, data on the global supply chain pressure index for November and the monthly factory orders figure for September will be announced. Currently, the market heavily favors a 25-basis-point rate cut by the Federal Reserve in December. Polymarket data shows that the probability of this event is already 94%.

● The US spot XRP ETF has experienced net inflows for 13 consecutive days, with a total amount of $874 million.

On December 3, the US spot XRP ETF recorded a net inflow of $50.27 million, bringing the total capital inflow to $874.28 million.

● The OTC price of USDT has fallen below 7.0, resulting in a situation where the exchange rate of USDT relative to the RMB is now inverted

. Data from various exchanges shows that the OTC prices of USDT have all dropped below 7.0. Additionally, recently, the OTC prices of stablecoins like USDT have also become inverted, falling below the RMB exchange rate. According to the State Administration of Foreign Exchange, the recent central parity rate of the RMB is around 7.07.

● Blockaid: The official website of the meme coin Pepe was attacked, and related links were redirected to malicious sites

. According to Cointelegraph, cybersecurity company Blockaid detected that the official website of the meme coin Pepe was hit by a front-end attack, with attackers redirecting users to malicious links.

Blockaid’s system identified code from the Inferno Drainer toolset on that website. Inferno Drainer is a set of phishing tools used by threat actors for creating fake website templates, wallet drainers, and social engineering tools.

● Lighter announces the launch of spot trading functionality

. According to decentralized exchange Lighter, spot trading functionality will be available soon. Users can now deposit, withdraw, and transfer ETH on this platform.

● JPMorgan predicts that if Bitcoin behaves like gold, its price could reach $170,000 per unit

. JPMorgan strategists believe that if Bitcoin’s performance is similar to that of gold, its price could reach $170,000 per unit.

● Zhao Changpeng showed gold bars during his debate, suggesting that verifying Bitcoin is much simpler

在赵长鹏与Peter Schiff的「比特币vs代币化黄金」辩论中，赵长鹏展示了一块来自吉尔吉斯斯坦、标注为「1000g 999.9」的金条，并请Peter Schiff鉴定真伪。Schiff表示因未见过该铸造机构标记，无法确认真伪，需送检才能确定，并指出金条颜色与其24K黄金饰品略有差异。赵长鹏称黄金难以轻松鉴别，而比特币验证更容易。

● 汇丰：目前使用的代币化存款私链标准已与以太坊兼容及ERC-20一致

据财新网报道，汇丰环球支付方案部本地及创新支付产品环球总监孙雷在专访中表示，汇丰已长期投放资源推进代币化存款业务，未来就算商业银行存款只有5%—10%代币化，也远远大于现在市场上任何加密货币的规模，汇丰现在私链在技术上的标准与以太坊的EVM compatible、ERC-20的标准是一样的，也不排除未来有一些用户场景可能需要选择公链的技术路线。针对下一步会不会推出代币化贷款，汇丰已经在与客户商讨有关的编程应用。

● Schwab和花旗银行将于2026年初提供比特币抵押贷款

Schwab和花旗银行计划从2026年初开始提供比特币抵押贷款服务。

● TD Cowen下调Strategy目标价至500美元

According to Decrypt, investment bank TD Cowen lowered the target price for Strategy, the largest holder of Bitcoin in the world, from $535 to $500 on Wednesday. The reason for this downgrade is the increased volatility of Strategy’s stock price and the potential dilution effect due to share issuance. Strategy recently announced that it has raised $1.44 billion to build up cash reserves, which will be used primarily to pay dividends on its preferred shares. The company also stated that it may sell its Bitcoin holdings if necessary.

Strategy has issued $7.7 billion in preferred shares this year. However, due to the stock price decline of approximately 24% over the past month, the company’s valuation now stands near a 13-month low, resulting in a greater dilution effect than expected. TD Cowen analysts believe that while building up liquidity reserves is a prudent move, the company’s high volatility means that the profit margin needs to be reduced from 9 times to 5 times.

Meanwhile, investment bank Benchmark remains optimistic about Strategy, raising its target price for 2026 to $705. They believe that Strategy’s stock remains “one of the most promising asymmetric investment tools in the global market,” given its unparalleled financing capabilities and potential gains from rising Bitcoin prices.

● Russian state-owned bank recommends allocating 7% of assets to Bitcoin and cryptocurrencies

VTB, Russia’s leading state-owned bank, suggests that investors should allocate 7% of their assets to Bitcoin and cryptocurrencies.

● Coinbase-backed Ethereum L2 Base launches Solana asset bridging services

The Ethereum Layer 2 network Base, developed by Coinbase, has officially launched its cross-chain bridging service. This service supports the transfer of assets from the Solana ecosystem and allows for the bridging of assets from the Base to Solana. This cross-chain infrastructure is powered by the Chainlink Cross-chain Interoperability Protocol (CCIP), aiming to ensure secure interoperability between the two ecosystems.

● The number of people filing initial jobless claims in the United States during the week of November 29th dropped to 191,000

According to data from December 4th, the number of people filing initial jobless claims in the United States during the week of November 29th was 191,000, which is lower than expected levels of 220,000. This is the lowest figure since September 24th, 2022. The previous figure was adjusted from 216,000 to 218,000.

● Acting Chairman of the CFTC: Spot cryptocurrency assets can now be traded on exchanges registered with the CFTC

美国商品期货交易委员会(CFTC)代理主席Caroline D.Pham今日宣布，上市现货加密货币产品将首次在CFTC注册的期货交易所的美国联邦监管市场启动交易。今日的公告遵循了总统数字资产市场工作组的建议，并采纳了CFTC“加密冲刺”计划中利益相关方的见解，以及与美国证券交易委员会的合作成果。“加密冲刺”计划还就总统数字资产市场工作组报告中与CFTC相关的所有其他建议启动了公开咨询。该计划的其他内容还包括：在衍生品市场启用代币化抵押品(包括稳定币)，以及对CFTC关于抵押品、保证金、清算、结算、报告和记录保存的监管规定进行技术性修订的规则制定，以便在我们的市场中运用区块链技术和市场基础设施，包括代币化技术。

● Polymarket正招募新员工组建内部做市团队

Polymarket is currently recruiting new team members to form an internal market-making team. This team will be responsible for conducting transactions on the company’s trading platform. Although similar functions have led to criticism from its main competitors, sources reveal that the company has already engaged in discussions with several traders, including those in the sports betting industry, in order to recruit them to this new department. Polymarket declined to comment on this matter. However, Kalshi already operates a department called Kalshi Trading, which provides quotes on the trading platform and actually acts as a counterparty for some of the client transactions. While Kalshi’s executives claim that this department serves to increase liquidity and improve customer experience, critics argue that its market-making activities pose a conflict of interest with those of the clients it serves, making it seem more like a traditional sports betting company. A proposed class action lawsuit filed last month alleged that Kalshi Trading sets odds that are unfavorable to customers.

● Former PayPal CEO says global funds will flow into Bitcoin, with daily amounts reaching trillions

The former PayPal CEO stated that “all global funds” will shift towards Bitcoin, mentioning that the daily amount involved could reach trillions of dollars.

● Bitcoin-native interoperability protocol Portal to Bitcoin has received $25 million in funding, with JTSA Global leading the investment

According to Cointelegraph, the Bitcoin-native interoperability protocol Portal to Bitcoin has secured $25 million in funding. This funding has enabled the development of an atomic OTC platform based on Hash Time Lock Contracts (HTLCs).

本轮融资由数字资产借贷机构JTSA Global领投，此前该项目已获得Coinbase Ventures、OKX Ventures、Arrington Capital等机构投资。

Portal to Bitcoin创始人兼CEO Chandra Duggirala表示，该协议旨在"让比特币成为全球资产市场的结算层，无需桥接、托管或包装资产"。该平台基于BitScaler第三层网络构建，采用类似闪电网络的架构，通过验证器联盟作为中心节点，流动性提供者作为辐射节点的结构运行。