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Former Theta Executive Accuses CEO of Fraud and Retaliation

2 hours ago

On December 17, two former executives of blockchain firm Theta Labs have filed whistleblower lawsuits in California against the company and its CEO Mitch Liu, alleging years of fraud, market manipulation, and retaliation. Former executives Jerry Kowal and Andrea Berry filed separate complaints in Los Angeles Superior Court. They claim Liu used Theta Labs and its parent company Sliver VR Technologies to artificially inflate token prices through deceptive partnerships and undisclosed insider token sales, while retaliating against employees who raised concerns. Kowal’s attorneys note Liu treated Theta Labs as a personal trading tool for fraud, self-dealing, and market manipulation. His orchestrated pump-and-dump schemes repeatedly wiped out value for investors and employees—including creating false NFT bids linked to high-profile collaborations like one with Katy Perry. Berry’s complaint also calls out Theta’s past statements about Google, accusing the company of misrepresenting a routine cloud service agreement as a strategic partnership. It further alleges two instances of self-dealing: Theta’s purported partners were actually other companies solely owned by Liu.
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A whale has deposited 1.57 million USDC into HyperLiquid, shorting BERA with 5x leverage.

On December 17, per Onchain Lens data, a whale deposited 1.57 million USDC into HyperLiquid and opened a 5x-leveraged short position on BERA.

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Coinbase Outlook for the 2026 Crypto Market: First Half of the Year to See Market Turnaround, Increased Integration of AI and Crypto Technology

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Japan is planning to implement a separate tax system for cryptocurrency from 2028 onwards.

Dec. 17 — A Japanese political insider has disclosed a proposal to transition the country to a separate self-assessment tax system for crypto assets, with implementation set for January 2028. While the market had expected Japan’s Financial Instruments and Exchange Act Amendment Bill to pass in the Diet next year and the new tax system to launch as early as 2027, the government intends to delay tax reforms until it assesses market conditions under the revised law. Currently, crypto transaction profits in Japan fall under “miscellaneous income,” taxed alongside salary and other earnings with a top rate of 55%. Investors and industry groups have long pushed for a separate tax system matching the 20% rate applied to stocks. The government cites “ongoing need to strengthen investor protection measures” as the primary reason for the delay.

7 minutes ago

「Top ZEC Short on Hyperliquid」 once again reduced their ZEC short position and used the funds to open a MON short position.

As of December 17, per monitoring from HyperInsight, the entity holding the "Largest ZEC Short on Hyperliquid" has been trimming its ZEC short position since yesterday—when it swung from a loss to a profit. Its ZEC position has dropped from $16.5M to $9.1M, with an average entry price of $389. Some of the freed capital was used to add to its MON short: the current MON position is ~$9.2M, with an unrealized profit of $4.62M (150%) and an average entry of $0.0308. This address previously initiated a ZEC short on October 10 at ~$184, then added to the position to average up its entry price. On October 17, at its lowest point, the position was down $21M, with ZEC exposure peaking at $43.2M. Currently, the entity is still closing out its ZEC and STRK shorts. Its primary profits stem from an ETH short: the position is ~$92.95M, with an average entry of $3377 and an unrealized profit of $13.86M (224%). This address is now the largest short seller across ETH, ZEC, and MON on Hyperliquid,

7 minutes ago

The Bhutanese Government has pledged to use 10,000 bitcoins to build the "City of Mindfulness."

**Cointelegraph: Bhutan to Deploy 10,000 Bitcoins for Gelephu Mindfulness City (GMC)** On December 17, Bhutan’s government announced it will use 10,000 bitcoins from its reserves to build **Gelephu Mindfulness City (GMC)**—a special administrative region set to launch in 2024. Located in southern Bhutan’s Gelephu town, GMC aims to curb youth emigration by creating high-value local jobs and becoming the country’s new economic hub. It will attract businesses across finance, tourism, green energy, tech, healthcare, and agriculture, offering regulatory flexibility for crypto and fintech firms while advancing Bitcoin mining in Bhutan. GMC covers roughly 10% of Bhutan’s territory (about 1,544 square miles). Bhutan’s Bitcoin reserves rank fifth globally (most from mining), totaling around 11,286 coins—valued at over $986 million.

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Opinion: If Bitcoin does not possess quantum attack resistance by 2028, the price may fall below $50,000

**December 17th** Capriole Investments founder Charles Edwards—who leads a quantitative Bitcoin and digital asset fund—warned via Cointelegraph that Bitcoin’s price could drop below $50,000 if the network fails to develop quantum computing resistance by 2028. Quantum computing’s potential threat to the crypto industry has long loomed as a critical inflection point: Advanced quantum machines could theoretically break encryption algorithms, exposing user private keys and leaving funds or sensitive data vulnerable to malicious actors. While the risk is widely viewed as distant, Edwards predicts it could materialize as early as 2028 without timely industry action—potentially hammering Bitcoin’s value.

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