Justin Sun: Li Lin Once Concealed Due Diligence Materials, I Lent the Company $30 Million to Fill the Gap

Per HTX market data, Bitcoin briefly fell below $90,000 on December 5, registering a 2.66% drop over the past 24 hours.

Friday, December 5th — Bloomberg reports Poland’s lower house failed to secure the three-fifths majority needed to override President Andrzej Duda’s veto in a vote held that day. Ahead of the vote, Duda emphasized the legislation was critical for aligning Poland with EU standards in the cryptocurrency sector and for national security. While the bill passed in other parliamentary chambers, the president’s veto and the lower house’s failure to overturn it signal major hurdles in the legislative process.

U.S. stocks opened higher on December 5, with the Dow Jones Industrial Average (Dow) rising 0.08%, the S&P 500 gaining 0.17%, and the Nasdaq Composite climbing 0.26%. Crypto-related stocks posted declines: MicroStrategy (MSTR) fell 2.78%, Circle (CRCL) dropped 2.40%, Coinbase (COIN) was down 1.66%, SBET slipped 2.06%, and BMNR declined 3.89%.

CoinDesk – December 5 MicroStrategy (MSTR)’s Senior Secure Equity (STRF) has climbed 36% since its March issuance, currently trading at $110 — a sharp 20% rebound from its November 21 low. STRF is highly correlated with Bitcoin’s price action, with its bounce aligning as Bitcoin stabilizes around $80,000. STRF features a 10% fixed annual interest rate, governance rights, and a penalty interest rate mechanism. Thanks to its strong downside protection and lower risk profile, it has sustained robust market demand, with the current effective yield at roughly 9.03%. Since October, the spread between STRF and MSTR’s Mezzanine Preferred Stock (STRD) has widened steadily, hitting a record high in November — signaling investors are piling into lower-risk assets. Meanwhile, MicroStrategy announced a $1.44 billion cash reserve for preferred stock dividends, pushing its common stock from an early-month low of $155 to $185 and lifting overall market sentiment sharply.

On December 5, on-chain investigator ZachXBT revealed that Danny/Meech—also known as Danish Zulfiqar (Khan)—is suspected of being arrested by law enforcement and having his crypto assets seized. He was linked to the $243 million Genesis creditor theft in August 2024 alongside Malone, Veer, Chen, and Jeandiel. But a report from The Block notes that as of now, neither Dubai Police nor UAE regulatory bodies have issued any public statements, and no local media reports have confirmed villa raids, arrests, or asset seizures tied to Zulfiqar, the Genesis creditor theft, or the earlier Kroll SIM-swapping incident.

**December 5** As monitored by AI Auntie, Binance’s Smart Money live contract has seen a shift in its top holder. A user named “0xPickleCati” recently opened a live contract, with the account’s accumulated profits reaching up to $45.46 million. While position details and trading history remain private, the account’s P&L curve shows notable growth in three key periods: January–April 2024, October–November 2024, and July–October 2025. A preliminary analysis suggests the address netted substantial gains during the October 11 Flash Crash event.