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

December 29th — The Flow team has shared an update on the recent network attack. Validators have reached consensus, and the proposed software upgrade solution has been approved. The network is now moving into the remediation and testing phase. The Flow network is back online and has resumed block production. However, regular transaction processing remains paused while the team validates and tests the remediation protocol. At 6 a.m. Pacific Time, the network will launch the first phase of its Restoration Plan: opening access for Cadence environment operations. Accounts impacted by the attacker’s exploit will stay temporarily restricted, and the EVM environment will only allow read-only access. Over 99.9% of Cadence accounts will regain full functionality during this transition.

**December 29** — Nomura Securities warned Wednesday that the new Federal Reserve chair, set to take office in May 2024, may lead a rate cut in June. But with the U.S. economy recovering, internal opposition to further rate cuts could emerge within the Fed. Policy disagreements would not only erode market confidence in the new chair but also spark tension between the Fed and the Trump administration. If the Fed holds rates steady after its June meeting, friction with Trump—who is pushing for deeper cuts to boost midterm election prospects—will be unavoidable. Nomura expects uncertainty to intensify from July to November 2024. During this period, a "flight from U.S. assets" trend may take hold, driving down U.S. Treasury yields, triggering a stock market pullback, and weakening the dollar. Investors should watch for potential liquidity reversals. Major global economies may also pause rate cuts or even start hiking, diminishing the relative appeal of holding dollar assets. A pol

December 29: Per LookOnChain data, Easy Hawkeye’s Trend Research has again boosted its ETH holdings by 11,520 units, valued at approximately $34.93 million.

On December 29th, Lighter founder vnovakovski took to social media, hinting at the potential rollout of Turing-complete zero-knowledge circuits in the future to support more complex custom logic. The community believes that if this direction comes to fruition, it could unlock new design space for perpetual DEXs (Perp DEXs) across privacy, efficiency, and functional flexibility—further elevating expectations for Lighter’s technical roadmap.

December 29 — HyperInsight monitoring reveals the largest on-chain long position address for LIT (0xdaa) has deployed a "pyramid" strategy: layered take-profit orders spanning the $4.12–$6 range, with the $4.12 level targeting just ~0.67% of the position’s closure. This address has held a 3x leveraged long since LIT’s pre-market contract launch on the 24th, consistently adding to its holdings. Current position size: ~$3.12 million, average entry price $3.82, with an unrealized loss of ~$14.3k (4.66%). On Hyperliquid, long/short forces are currently balanced. Since pre-market launch, 10 whales (positions >$1M) have entered the market — 5 long, 5 short. Two additional whales opened long positions today. Market sentiment (Polymarket data): - Probability Lighter’s token exceeds $4B FDV one day post-listing: up ~9% in 24h, now 30%. - Probability FDV remains above $3B: up ~10%, now 52%. LIT’s current pre-market price is ~$3.5, corresponding to a fully diluted valuation (FDV)