The U.S. Senate Banking Committee Advances the "Financial Transparency and Regulatory Compliance Act"

December 13: Following the recent Polygon hard fork, some Polymarket users have reported issues including orders failing to execute on-chain and withdrawal delays. To hedge risks, some users have shifted to Opinion, driving a surge in its trading volume that surpassed $3 billion and outpaced Polymarket’s.

On-chain analyst Ai Auntie (@ai_9684xtpa) noted on December 13 that address 0x074…9B748 executed a phased panic sell at the bottom 11 hours ago: the holder offloaded 3,296 ETH (≈$10.3 million) and closed the position for a net profit of $292,000. Two days earlier, the address held unrealized gains of $1.266 million—having entered the position on December 2 at $3,029 per ETH.

On December 13, per Onchain Lens monitoring data, a newly created cryptocurrency wallet received 14,959 ETH from BitGo—valued at roughly $48.42 million. The address is widely speculated to belong to BitMine.

On December 13, The Block reported that Moody’s—one of the world’s top credit rating agencies—has unveiled a new framework to evaluate stablecoins, which are increasingly integrated into the traditional financial system. The agency noted Friday: “We will assess the credit risk of a stablecoin’s redemption obligation and assign a rating. Our approach starts with evaluating each eligible asset type in the stablecoin’s reserve pool, then determining its credit quality via the ratings of the assets and their related counterparties.” Under the framework, two stablecoins pegged 1:1 to the U.S. dollar could end up with different ratings if their underlying reserve assets differ—even if both claim full dollar backing. Moody’s added: “Our second analysis step will factor in market value risks—assessing each eligible reserve asset’s market value risk by asset type and maturity. This will lead to a haircut rate applied to each asset’s value. We also will incorporate operational, liquidit

On December 13, OKX posted on social media noting it had found conclusive evidence that several linked, colluding accounts used large amounts of OM tokens as collateral to borrow significant USDT, artificially inflating the OM price. The OKX Risk Team quickly detected the unusual activity, reached out to the involved account holders, and asked them to address the issue—but they declined to cooperate. To manage risk, the platform implemented control measures on these linked accounts. The OM price plummeted shortly after. OKX only liquidated a tiny fraction of the OM collateral; the heavy losses from the sharp drop were fully covered by the OKX Security Fund. Multiple third-party analyses show the crash was primarily driven by perpetual contract trading on non-OKX platforms. The Security Fund operated exactly as intended per its design. To date, the other side has not explained where its large OM holdings came from, nor why these groups control such a big share of the token’s su

**December 13th** Testimony in a Manhattan court has revealed that last year, five days after UnitedHealth Group CEO Brian Thompson was shot and killed, suspect Manzione was arrested at a McDonald’s in Pennsylvania. Investigators found a piece of paper containing a cryptocurrency seed phrase in his backpack. The photo of the paper was introduced as evidence during Manzione’s New York murder pre-trial hearing. It was heavily redacted in the center, with a label reading “Encrypted — Cryptocurrency Seed Phrase.” The court did not disclose which cryptocurrency the seed phrase was linked to, nor whether Manzione controlled any associated assets. *Source: Business Insider*