SEC Chair: Entire Financial System Will Transition to Bitcoin and Cryptocurrency in a Few Years

NVIDIA CEO Jensen Huang said in a December 7 interview that Bitcoin is currently “turning surplus energy into a new form of currency — one you can take anywhere.” “In other words, it lets you take energy from one location and turn it into something transportable across the globe.”

On December 7th, per Coinglass data, centralized exchanges (CEXs) recorded a total net outflow of 8,915 BTC over the past seven days. The top three CEXs by outflow volume are: · Binance: 6,335.56 BTC · Gemini: 1,193.43 BTC · Bybit: 1,163.66 BTC Bitfinex, meanwhile, led inflows with 1,097.26 BTC.

December 7 – As bearish market sentiment intensifies, social DEX trading platform Ant.fun has officially rolled out its first "Bear Market Warmth" program. On December 7 at 14:00 UTC+8 (1:00 AM Eastern Time), the platform will airdrop ANB tokens to 10,000 recently active wallet addresses of gmgn users. No user action is required to claim the airdrop: ANB will be automatically distributed to eligible active wallets, letting the community feel Ant.fun’s support even during a market downturn.

On December 7, Coinglass data shows that if Bitcoin drops below $88,000, cumulative long liquidation intensity across major centralized exchanges (CEXs) will hit $606 million. Conversely, should Bitcoin climb above $91,000, cumulative short liquidation intensity on these major CEXs will reach $611 million. BlockBeats Note: Liquidation charts do not precisely show the number of contracts at risk of liquidation or the exact value of contracts being liquidated. Instead, the bars on these charts reflect how significant each liquidation cluster is compared to adjacent clusters — in other words, their intensity. As a result, these charts illustrate how strongly reaching a specific price level will impact the market. A taller “liquidation bar” means that if prices hit that level, a more intense reaction will follow due to a liquidity cascade.

On December 7th, a16z said in its latest article on quantum attacks that Bitcoin faces two major real-world challenges, creating an urgent need to transition to post-quantum digital signatures. The first challenge is governance inefficiency: Bitcoin’s upgrade process is notoriously slow. If the community fails to reach consensus on a solution, any contentious issue could trigger a disruptive hard fork. The second is the lack of proactive migration: Bitcoin cannot complete the shift to post-quantum signatures passively — holders must actively move their assets. This means millions of dormant, quantum-vulnerable bitcoins could lose protection. Estimates indicate the number of such quantum-vulnerable, potentially abandoned bitcoins could hit the millions, with a combined market value of up to hundreds of billions of dollars.

The Financial Times reported on December 7 that worsening housing affordability in the U.S. is fundamentally reshaping Gen Z’s financial habits and spending—even pushing some young people to speculate in crypto and fostering feelings of “economic nihilism.” The gap between home prices and incomes has emerged as a key driver of young people’s economic choices. With homeownership feeling out of reach for many, some Gen Zers are choosing to “lie flat”—cutting back on savings and ramping up investments in high-risk assets like crypto. Surveys indicate that young people who see homeownership as unrealistic are more likely to do three things: save less, work less hard, and speculate more. By contrast, those who still believe they can buy a home someday are more likely to save actively and plan ahead—since shifting beliefs about that goal change their incentives. The piece stresses that as the opportunity cost of buying a home rises sharply, more young people are putting their time and