Flow: Actively coordinating with key infrastructure partners to determine the best restart plan

Dec. 29 — Ethereum contract deployments hit a record 8.7 million in Q4 2025, marking an all-time high, per CoinTelegraph citing Token Terminal data.

Dec. 29 – Per a Caixin report, the Hong Kong Monetary Authority (HKMA) confirmed it will fully implement new crypto-related banking capital rules aligned with the Basel Committee on Banking Supervision’s (BCBS) crypto asset standards in Hong Kong starting Jan. 1, 2026. BCBS defines crypto assets as private digital assets primarily relying on cryptography, distributed ledger technology (DLT) or similar tech. Digital assets, in turn, are defined as digital representations of value usable for payment, investment, or access to goods and services. Covered assets include Bitcoin, Ethereum, real-world assets (RWAs), stablecoins, and other similar assets.

On December 29, Flow released an update on its recent attack incident: - Abandoned network rollback/reorganization; partners won’t need to replay transactions - Legitimate user activities will be preserved; over 99.9% of accounts were unaffected and will operate normally post-reboot - The Flow Foundation collaborated with ecosystem partners on a revised recovery plan, directly engaging with bridge operators, exchanges, and infrastructure partners The network will recover in phases: 1. Cadence environment goes live; EVM temporarily restricted to read-only 2. Rhythm adjustment (approx. 24–48 hours) 3. EVM repair and re-enablement 4. Bridge/interchange restoration—specific timing to be determined by operators based on actual conditions and confirmed stability

Dec. 29 — California has unveiled a proposal for a 5% wealth tax on billionaires, with crypto industry executives fiercely opposing the plan over concerns it would spark entrepreneur departures, capital flight, and ultimately prove a waste of resources, per Cointelegraph. The measure, dubbed the “2026 Billionaire Tax Act,” seeks to qualify a ballot initiative imposing the 5% levy on individuals or entities with net worth over $10 billion. Proceeds would fund California’s healthcare system and state assistance programs. SEIU United Healthcare Workers West notes a portion of the proposed tax targets unrealized gains, meaning some billionaires could need to sell stocks or portions of their businesses to cover the tax bill. The tax may be paid in a lump sum or via five-year installment plans with interest. Crypto leaders including Bitwise CEO Hunter Horsley and Kraken co-founder Jesse Powell argue the proposal would only drive billionaires out of the state, leading to negative con

December 29: Per monitoring from HyperInsight (Telegram @HyperInsight), crypto whale "Big Brother Whale" Huang Licheng closed his HYPE long position in nearly an hour, netting just a $3,000 profit. He then boosted his ETH short position to $24 million in roughly 10 minutes, with an entry price of $2,973.44 and a liquidation price of $2,813.72.

December 29th — Per HyperInsight monitoring, ZEC has notched a ~22% cumulative gain since Dec 27, sparking a spike in open interest (OI) on the Hyperliquid platform. Top on-chain long and short positions for ZEC have both ramped up their bets. The largest ZEC short address recently added to its position, pushing it back to $19.84 million (avg entry: $417) — with a floating loss of ~$4.51 million (-113%). Active in shorting ZEC since October, the address cut its short from $16.5M to $9.1M on Dec 17 before reloading. Its total short position now sits at $163M (up from $113M), making it the biggest short holder for the platform’s three top coins: ETH, ZEC, and MON. Meanwhile, whale address 0x6b2 significantly boosted its 3x leveraged ZEC long yesterday (avg entry: $520). Its current ZEC long totals $32.2M (avg: $431) with ~$6.53M in floating profit (60%) — now the largest on-chain ZEC long holder.