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

**Dec. 8 — South Korea’s largest crypto exchange Upbit delayed reporting a hack to the Financial Supervisory Service (FSS) by six hours, per South Korean outlet Chosun Ilbo.** Data from the FSS, obtained by National Assembly member Kang Min-kuk, shows: - Upbit detected abnormal transactions at 4:42 a.m. on Nov. 27 but notified the FSS only at 10:58 a.m. - Hackers stole over 104 billion Solana ecosystem tokens (valued at ~44.5 billion South Korean won) in 54 minutes during that window. - Upbit convened an emergency meeting 18 minutes post-detection, paused Solana deposits/withdrawals 27 minutes later, and fully suspended all crypto deposits/withdrawals at 8:55 a.m. Current laws lack direct penalty clauses for virtual asset service providers (VASPs) in hack incidents, leaving the FSS unable to impose major sanctions. Upbit responded that it fully compensated user losses with its own funds and reported to authorities immediately upon confirming the intrusion.

December 8th — Per EmberCN monitoring, the whale/institution that acquired 991,000 SOL four years ago and unlocked its holdings in April this year continued taking profits 20 minutes ago: it transferred 100,000 SOL (valued at $13.57 million) to Binance. - Since unlocking in April, this address has transferred 615,000 SOL (valued at $107 million) to Binance over eight months, with an average selling price of $175 per SOL. - It currently holds 733,000 SOL (valued at $99.16 million) and has earned staking rewards of 357,000 SOL over the past four and a half years.

December 8th — This week’s Federal Reserve interest rate meeting is shaping up to be one of the most contentious in recent years. Investors are closely watching for how sharply policymakers disagree on rate cuts and what signals Chair Jerome Powell will send about the central bank’s future policy path. Asset manager Janus Henderson argues that, over the long term, the December meeting won’t have a meaningful impact on markets. While there could be short-term volatility, actions taken in the first half of 2026 will matter more than those in December. Trust company Wilmington Trust says markets have largely priced in the Fed’s rate-cut moves already; the real key lies in the central bank’s policy guidance. They expect the Fed to remain highly cautious, stressing that policy will depend on incoming economic data. Some observers note the market may be overestimating the odds of a Fed rate cut, and are more focused on Powell’s remarks and how close the policy vote will be. Nomura e

Uniswap founder Hayden Adams announced on December 8 that the protocol’s first Continuous Clearing Auction (CCA) has concluded, with total bids reaching $59 million. Notably, the auction featured no sniping, bundling, or time-based tactics. Adams emphasized the process was slow, transparent, and focused on fair price discovery: the final price was 59% higher than the floor price, and bidders had several days to place bids for a better average price. Even a $10 billion fully diluted valuation (FDV) bid on the first day would not have resulted in overpayment, he noted—instead, bidders would secure a dollar-cost averaging (DCA) price between the floor and final clearing price. Most funds raised from the auction, along with token reserves, will be used to provide initial liquidity for Uniswap v4 pools, serving as the primary secondary market liquidity source. As previously reported by BlockBeats, Uniswap launched its CCA protocol on November 13 to support liquidity provision for t

Per an announcement from Huobi HTX on December 8, the exchange will enable STABLE deposits at 15:00 GMT+8 on December 8. STABLE/USDT spot trading will launch at 21:00 GMT+8 the same day. STABLE withdrawals will be available at 21:00 GMT+8 on December 10. Additionally, Huobi Futures will roll out STABLE/USDT (10x) isolated margin trading at 21:00 GMT+8 on December 8.

Per HyperInsight monitoring on December 8, the crypto address tagged "Cool-headed Short King" holds three short positions with severe unrealized losses—totaling up to $900,000: - 93.73 BTC short at 40x leverage: $240,000 unrealized loss - 44,000 SOL short at 20x leverage: $200,000 unrealized loss - 12,200 ZEC short at 10x leverage: $460,000 unrealized loss The address’s remaining balance is just $640,000. Address: 0x9263c1bd29aa87a118242f3fbba4517037f8cc7a