GSR: All Operations Normal, Business and Liquidity Situation Remain Strong

Binance has denied South Korean media reports claiming it responded slowly to the recent hack of major local exchange Upbit, a company spokesperson said Tuesday (Dec. 12). “Our security and investigation teams identified the incident immediately and took swift action to freeze relevant transfers, stopping further fund outflows,” the spokesperson stated. “Any claims we failed to act timely or effectively are baseless and inaccurate.” Earlier Tuesday, South Korean outlet KBS reported local police asked Binance to freeze stolen cryptocurrency linked to the Upbit hack—but the exchange only froze a portion of the requested amount. Upbit, South Korea’s largest crypto exchange, disclosed on Nov. 27 that it detected unusual withdrawals totaling roughly 54 billion won ($36 million) in Solana network-related assets, sent to unknown external wallets. On the day of the hack (Nov. 27), police confirmed some stolen funds flowed to Binance and requested the exchange freeze about 470 milli

On December 12, spot silver climbed to $64.65 per ounce, notching another all-time high, according to market data.

Katie He, Head of Product and Strategy at ChinaAMC Hong Kong (ChinaAMC HK), announced at the Solana Breakpoint Conference on December 12 that the firm will launch Asia’s first and largest tokenized currency market fund. Covering the Hong Kong Dollar (HKD), U.S. Dollar (USD), and Chinese Yuan (RMB), the fund will tokenize traditional currency market instruments to offer investors secure on-chain access to stable return opportunities—with full transparency and real-time settlement. Following months of collaboration with regulators and partners including OSL, this innovation will expand beyond Hong Kong to broader markets and is natively deployed on the Solana blockchain.

On December 12, Bloomberg reported that Interactive Brokers will permit the use of stablecoins to fund brokerage accounts.

On December 12, a senior executive from UK fintech Zepz announced at the Solana Breakpoint conference that the firm has launched the SendWave Wallet — a non-custodial wallet backed by Solana’s stablecoin infrastructure. Designed for cross-border remittances and financial services, the wallet currently serves 100 countries and regions, with collaboration support from partners Circle and Portal.