Original Canaan Inc. Co-Chairman: Recently, about 400,000 Bitcoin mining machines in Xinjiang, China have been shut down.

December 16: The U.S. Bureau of Labor Statistics (BLS) will release **November U.S. seasonally adjusted nonfarm payrolls and unemployment rate data** tonight at 21:30 ET. Key metrics to watch: - **U.S. November Seasonally Adjusted Nonfarm Payrolls (in thousands): Expected 400k** Tracks changes in U.S. nonfarm employment (excludes agriculture) via surveys of businesses, government agencies, and non-agricultural sectors. The Labor Department releases the prior month’s report on the first Friday of each month. - **U.S. November Unemployment Rate: Expected 4.40%** Ratio of the unemployed to the labor force (individuals willing and able to work but without jobs). Measures idle labor capacity; a critical economic indicator tied to labor supply/demand and economic cycles, reflecting broader economic health. ### Notes on U.S. language habits applied: 1. **Conciseness**: Shortened redundant phrases (e.g., "derived from sampling surveys" → "via surveys") and used common abbrev

On December 16, Yu Hong—former 360 executive and founder of XMAX—launched a scathing attack on 360 Group founder Zhou Hongyi late at night via WeChat Moments and community groups. He claimed to have helped Zhou falsify accounts totaling at least tens of billions (in yuan) and still holds the relevant data, vowing to release it publicly across all platforms. Yu also alleged that all of Zhou’s game-related finances are fabricated, adding that knowing Zhou was a "major mistake" and that he has been defrauded of a large sum of money by him. Yu is a well-known figure in the internet and blockchain sectors. Earlier in his career, he founded a game company that he later sold to 360, joining the firm as a senior vice president. During the 2018 Spring Festival, he launched the "3 O'Clock Blockchain Group"—a community with hundreds of members including Sequoia Capital’s Shen Nanpeng, 360 Chairman Zhou Hongyi, Xue Manzi, and Shen Bo (partner at Distributed Capital).

**December 16 (Decrypt) — Grayscale said in its latest “2026 Digital Asset Outlook” report that while quantum computing poses a long-term security challenge, it will have minimal impact on cryptocurrency market prices in 2026, labeling the threat a “false alarm” for the coming year. The asset manager noted the quantum risk is a legitimate concern but unlikely to affect crypto markets or valuations in the short term.** **The report cited estimates suggesting a quantum system capable of breaking Bitcoin’s cryptography could emerge as early as before 2030. Grayscale analysts added that research and preparation for post-quantum cryptography will continue, but the issue is not expected to impact valuations over the next year.**

As of December 16, Onchain Lens monitoring shows that amid a market downturn, the whale address "0x35d" has expanded its 20x leveraged SOL short position, currently holding an unrealized profit of approximately $15.9 million.

On December 16, LookOnChain data shows the trader nicknamed "Buddy" has been liquidated 10 more times on long positions. Since the October 11 market crash, he’s been liquidated 200 times total, sustaining losses exceeding $22.88 million. His account now holds just $53,178.

**Update (Dec 16):** Onchain Lens data shows a crypto whale closed out its ETH long position amid market declines, incurring a loss of roughly $5.86 million. All told, the whale has erased its prior profits and now faces a total loss of ~$2.4 million.