Has the "Ice Cold Long" Lost His Cool? Long Position Plunges into Significant Unrealized Loss

**December 10** The Federal Reserve is grappling with its deepest internal rifts in recent memory, leaving Chair Jerome Powell with a steep coordination challenge. Markets are pricing in a 25-basis-point rate cut from the central bank tonight, but Powell is expected to steer clear of signaling additional cuts in January to mollify hawkish policymakers. Bank of America notes Powell may indicate another cut would only materialize if employment data shows notable weakness, or stress that the benchmark rate is near neutral. As of now, five officials back a rate cut, three are uncommitted, and two favor holding rates steady.

December 10th — Meta CEO Mark Zuckerberg, after spending billions to build what’s billed as tech history’s most expensive team in recent months, is now deeply engaged in day-to-day development and leading the company’s strategic shift toward directly monetizable AI models. Insiders say a new model codenamed “Avocado” is set to launch in spring 2026, potentially as a closed-source offering (meaning Meta will tightly control and sell access rights to external users). This marks a major departure from Meta’s longstanding focus on open-source AI. Zuckerberg is devoting significant time to a core team called TBD Lab, which has integrated third-party models—including Google’s Gemma, OpenAI’s GPT-oss, and Alibaba’s Qwen—into Avocado’s training. Meanwhile, Meta is drastically reallocating resources: cutting investment in the metaverse and virtual reality, shifting funds to AI-focused hardware like smart glasses, and planning to spend $600 billion on U.S. AI infrastructure over the nex

Wednesday, December 10 U.S. Bureau of Labor Statistics (BLS) data showed Q3 annual labor cost growth slowed to 3.5%—a four-year low—signaling ongoing job market cooling that eases inflationary pressures. Quarter-over-quarter (QoQ) growth came in at 0.8%. The figures reinforce signs of fading job market momentum: many employers are slowing hiring, and some have begun layoffs. For the Federal Reserve, which is expected to announce a rate cut imminently, slower labor cost growth is a positive signal for taming inflation. Prior day’s data showed weaker business hiring, layoffs hitting their highest level since early 2023, and the voluntary quit rate dropping to a 2020 low—reflecting diminished worker confidence in job-hopping. Wage growth has also slowed, with a sharp pullback in younger workers’ salaries particularly notable. (Jin10)

On December 10th, market sources and insiders reported that Meta has leveraged Alibaba’s Tenera model to fine-tune its latest AI model. Alibaba (BABA.N) gained over 4% in pre-market trading, while Meta Platforms (META.O) dipped more than 1%.

On December 10, Aster officially announced that all US Stock Perpetual Contracts (including NVDA, TSLA, AMZN, AAPL, etc.) will have 0% maker fees and 0% taker fees. ### Aster Harvest: Phase 4 Point Rules - **US Stock Perpetual Taker**: 0 fees, no points awarded - **US Stock Perpetual Maker**: 0 fees + points awarded (for providing liquidity to the order book) This initiative is not a limited-time promotion—Aster is focused on building the deepest on-chain liquidity for US Stock Perpetual Contracts.

**Binance CEO CZ Updates on WeChat Hack Incident** On December 10, Binance CEO Changpeng Zhao (CZ) shared an update about a WeChat hack: his little-used account was compromised that morning. Some users who viewed his Moments (similar to a Facebook timeline) and messages blindly bought a meme coin, incurring losses. Expressing regret, CZ said he will personally allocate BNB to airdrop to users who suffered **absolute losses** trading the meme coin on Binance’s non-custodial wallet and Alpha platform *while his account was hacked*. The airdrop will be completed within 24 hours. He added: > “Neither I, Binance’s official account, nor Binance employees will ever recommend any meme coins. These coins lack long-term viability and have no price support. I urge everyone to be cautious when vetting online information and practice responsible investing. I hope no similar reimbursements will be needed going forward.” ### Key Notes on American English Adaptations: 1. **Conciseness**