Glassnode: Traders added to their long positions after Bitcoin broke above the previous high, and the current pullback is helping to flush out leverage.

Today, Star addressed the issue of Molecular Thread co-founder Li Feng borrowing 1,500 BTC from Star and failing to repay before going missing in a social media post. Star stated: “One can’t always dwell on negative history. Look to the future, contribute more positive energy. Let the debt matter be handled by the law. Best wishes to every entrepreneur.” BlockBeats reported today that Li Feng has been exposed for involvement in coin issuance and failure to repay the 1,500 BTC (link: https://www.theblockbeats.info/flash/323313). Previously, a shared agreement from Star showed the two parties renewed their loan agreement with Hu Zhibin as guarantor. The initial agreement, signed Dec. 17, 2014, expired Dec. 16, 2016. A new agreement was signed March 30, 2017, “due to personal reasons of Party B requiring an extension of the loan period.” Li Feng defaulted again, leading Star to publicly disclose the unpaid loan issue.

**December 7 (South Korea) — The South Korean government is pushing ahead with legislation to introduce a banking-style "no-fault compensation" rule for major cryptocurrency exchanges.** The Financial Services Commission (FSC) reportedly is evaluating a requirement that virtual asset service providers (VASPs) would be liable to compensate users even if not at fault for losses from hacking attacks or system outages. Currently, this mandatory compensation applies only to traditional financial institutions and electronic payment firms. The push stems from a November 27 Upbit exchange security incident: roughly 44.5 billion Korean won (≈$30.1 million) in assets were transferred to an external wallet in 54 minutes. Existing rules barred regulators from forcing Upbit to compensate users. Korean financial watchdogs also cited frequent crypto industry system failures in recent years. Data shows 20 total system outages across the top five exchanges from 2023 to September this year, aff

Last Friday, December 7, CME Group—the world’s second-largest derivatives exchange—faced a trading halt lasting over 10 hours across multiple markets due to a data center outage. Data center operator CyrusOne confirmed Saturday the outage stemmed from human error. A CyrusOne spokesperson said on-site staff and contractors at its Aurora, Illinois facility failed to properly drain the cooling tower ahead of frigid weather, causing the system to ice up, operate under overpressure, and trigger uncontrolled equipment temperatures. While CyrusOne claimed it took comprehensive, decisive steps to restore cooling, CME noted in a statement that the data center’s initial remediation efforts worsened the issue, ultimately knocking out multiple cooling units. The incident underscores CME’s high reliance on a single data center. The facility was originally owned by CME, sold to CyrusOne in 2016, and bound by a 15-year leaseback agreement. CME said Saturday it is fully aware of the severe impac

On December 7, data from Alternative Data shows the cryptocurrency Fear & Greed Index has dropped to 20 (down from 23 yesterday), signaling the market remains in a state of “extreme fear.” Note: The Fear & Greed Index ranges from 0 to 100, with components including: Volatility (25%) + Market Trading Volume (25%) + Social Media Hype (15%) + Market Surveys (15%) + Bitcoin Dominance (10%) + Google Trends Analysis (10%).

On December 7, Coinglass data shows that centralized exchanges (CEXs) recorded a net outflow of 206,400 ETH over the past seven days. The top three CEXs by ETH outflows were: - Binance (92,300 ETH outflow) - Kraken (79,400 ETH outflow) - OKX (36,000 ETH outflow) Additionally, Bybit led inflows with 2,271.69 ETH, topping the list of CEXs with ETH inflows.

December 7 – Per an announcement from Huobi HTX, the exchange will jointly launch NIGHT/USDT spot trading on December 9. Deposits for NIGHT will open shortly. Additionally, Huobi Futures will add NIGHT/USDT (10x) isolated margin trading pairs. Per reports, Midnight is a next-generation blockchain, and NIGHT is a popular token within the ADA ecosystem. It leverages zero-knowledge proof (ZKP) technology to deliver utility without compromising data protection or ownership, enabling applications that safeguard user, business, transaction data, and metadata.