🔍 December 8, 2025 Daily Briefing 📊 I. Key Data Fear & Greed Index: 24 (Fear) US BTC Spot ETF: Net inflow last week -$87.77 million US ETH Spot ETF: Net inflow last week -$65.59 million 📰 II. Important News of the Day 1️⃣ Macroeconomics and Regulation 1) On December 8, the Trump administration's latest National Security Strategy document listed artificial intelligence and quantum computing as core national interests of the United States, emphasizing the need to ensure that the United States leads the world in technology and standards in artificial intelligence, biotechnology, and quantum computing. The only potentially cryptocurrency-related statement in the document is about maintaining and enhancing "the dominant position of the US financial sector" and leveraging "leadership in digital finance and innovation" to ensure market liquidity and security. 2️⃣ Industry News 1) Binance announced today that it has obtained a Financial Services License (FSP) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), the international financial center in Abu Dhabi, UAE. Starting January 6, 2026, Binance will provide services such as trading operations, clearing and custody, brokerage, and OTC trading through three licensed entities. In addition, Binance signed a cooperation agreement with Dubai Customs to help improve trade efficiency and accelerate investment flows through payment solutions including Binance Pay. 2) On December 8, Cointelegraph reported that Bittensor will undergo its first token halving event around December 14. At that time, the daily supply of its native token TAO will be halved from the current 7,200 to 3,600. 3) On December 8th, Reuters reported that Robinhood Markets will acquire Indonesian brokerage Buana Capital Sekuritas and licensed digital asset trader Pedagang Aset Kripto. The transaction is expected to close in the first half of 2026, with specific financial terms undisclosed. Patrick Chan, Head of Robinhood Asia, stated that Indonesia is an ideal location to further advance Robinhood's mission of financial democratization. 3️⃣ Focused Targets/AI-Related Developments 1) On December 8th, Bloomberg reported that Wall Street's perception of AI-related companies is changing: OpenAI is being sidelined and no longer seen as a cutting-edge representative of AI, while facing questions about its profitability. Meanwhile, Alphabet is making a strong comeback with its substantial financial resources. Market optimism for Alphabet stems not only from Gemini, which ranks third in market capitalization in the S&P 500 and possesses a large amount of disposable cash. Its related businesses also hold significant advantages, such as Google Cloud, its emerging semiconductor manufacturing business, and its strength in AI data, talent pool, and distribution channels. Since 2025, the stock prices of a series of companies associated with OpenAI have risen by a cumulative 74%, a remarkable performance, but far less than the 146% increase in stocks related to Alphabet. Lumentum, which provides optical components for Alphabet's data centers, has seen its stock price more than triple this year, becoming one of the top 30 performing stocks in the Russell 3000 index. Tianhong, which provides hardware support for Alphabet's AI infrastructure, saw its stock price rise by a cumulative 252% in 2025. Meanwhile, Broadcom, which designs and manufactures Tensor Processing Unit (TPU) chips for Alphabet, has seen its stock price rise by 68% since the end of last year. 2) South Korea's Ministry of Industry and Energy and Arm, a chip design company under SoftBank Group, reached a memorandum of understanding to cooperate in strengthening South Korea's capabilities in the semiconductor and artificial intelligence fields. This includes a plan for Arm to establish a chip design school in South Korea. The training program aims to train approximately 1,400 high-level chip design experts in South Korea and is seen as an important measure to address the relative weaknesses of Asia's fourth-largest economy in system semiconductors and fabless design. South Korean President Lee Jae-myung met with Masayoshi Son at the presidential palace in Seoul on the same day.