a16z crypto General Partner: Privacy Will Become the Most Important Moat in the Crypto Space

As of December 23, Binance will delist the following margin trading pairs on December 30, 2025, at 06:00 UTC: - Cross Margin Trading Pairs: EIGEN/FDUSD, ARB/FDUSD, TRUMP/FDUSD, POL/FDUSD, ATOM/FDUSD, LDO/FDUSD, SHIB/FDUSD, RAY/FDUSD, GALA/FDUSD, PEPE/FDUSD - Isolated Margin Trading Pairs: EIGEN/FDUSD, ARB/FDUSD, POL/FDUSD, ATOM/FDUSD, LDO/FDUSD, SHIB/FDUSD, GALA/FDUSD, PEPE/FDUSD

**Hyperliquid Names Lighter as Direct Competitor; Addresses HYPE Insider Shorting Concerns** On December 23, Hyperliquid said in an official announcement it identifies Lighter as a direct competitor alongside Binance and Aster. The platform noted those three are operated by centralized orderers to manage transaction states, highlighting its own architectural edge: fully on-chain, run by 24 validators, and no hidden state. Lighter, meanwhile, centers on “verifiable execution” and a proof mechanism, offering auditability for its CLOB-style transaction structure. Competition between the two in decentralized trading infrastructure is ramping up. Separately, Hyperliquid addressed community concerns over a suspected insider shorting incident tied to its HYPE token. It stated the linked wallet belonged to a former employee fired in early 2024, whose actions had no connection to the team. The platform stressed strict internal HYPE transaction and compliance restrictions apply to emplo

December 23rd — Per monitoring from HyperInsight (via Telegram: https://t.me/HyperInsight), James Wynn’s address (0x8da) currently holds a 40x-leveraged long position in BTC, with $76,000 in floating profit (a 65% gain). The position has a size of roughly $4.72 million, an average entry price of $86,800, and a liquidation price of $84,500. Additionally, a newly opened long position in ZEC today was stop-loss liquidated less than four hours after initiation, resulting in a minor loss of ~$10,000. Monitoring also indicates Wynn’s position adjustments frequently align with his public commentary on X. For example, he flipped from a short to long position on BTC following a bullish post on December 21st. Earlier this month (Dec. 4 and 9), he shared views predicting BTC would rally to $97,000–$103,000 and warning of a potential “bloodbath” in markets. Additionally, per the data, his other public address (0x507) closed a long position in BTC over the past 7 hours, netting ~$20,000 in profit

On December 23, EmberCN data indicates a whale at address 0xa339—who previously took a long position on ETH via a flash loan—has made notable ETH sales. In the past hour alone, the address has sold a cumulative 10,006 ETH, valued at roughly $30.05 million. Over the past week, the whale has offloaded a total of 30,605 ETH (worth $89.14 million). The average selling price stood at $2,913, with an ETH cost basis of approximately $2,545, netting a profit of over $11 million.

On December 23, per LookonChain data, a suspected Bitmine-associated address acquired 29,462 ETH from BitGo and Kraken, valued at roughly $88.1 million.

December 23 — Per Lookonchain data, the whale address 0x72F8 deposited all 16.86 million of its ENA tokens into Coinbase Prime 7 hours ago. The tokens were purchased roughly a year ago at an average price of $1.10, totaling approximately $18.53 million in cost. Their current market value is just $3.51 million, translating to an accumulated loss of over $15 million — a roughly 81% drawdown.