2025/12.29/Encrypted Information Sharing 🏛️ Macroeconomics and TradeFi: Silver's "Crazy Moment" Silver hits record high: Spot silver saw panic buying in early trading, breaking through $80/ounce for the first time in history, reaching a high of $83.62. It surged as much as 8% intraday, and its year-to-date gain has exceeded 180%, briefly surpassing Nvidia's market capitalization. Interest rate cut expectations have cooled: The probability of a rate cut in January has fallen below 18%, and expectations of tightening dollar liquidity have suppressed the year-end rebound potential of risk assets. Geopolitical positives: Trump described his call with Putin as "productive" and plans to meet with Zelensky, which has boosted market expectations for a de-escalation of geopolitical tensions. Banks enter the fray: Russia's largest bank (Sberbank) successfully issued its first crypto-asset-backed loan, marking the traditional banking system's acceptance of crypto-asset financing. 🚨 Major Safety and Risk Warning Flow Network Rollback Controversy: To undo the impact of a $3.9 million vulnerability attack, the Flow Foundation plans to perform a "state rollback." This move has been met with strong protests from cross-chain protocols (such as deBridge), which argue that the rollback will lead to serious systemic risks and a crisis of trust within the ecosystem. Coinbase Arrest: Indian police have arrested a former customer service contractor, confirming that he leaked sensitive information about nearly 70,000 users in exchange for bribes. This leak has resulted in approximately $307 million in related expenses and shareholder lawsuits for Coinbase. Dark Web Black Market: Reports show that stolen encrypted accounts are worth an average of only $105 on the Dark Web. 📊 Market Analysis and Fund Flows ETFs continue to withdraw: The US spot Bitcoin ETF saw net outflows for six consecutive trading days, with a cumulative outflow of approximately $782 million during the Christmas week. Institutions tend to take profits and rebalance their assets at the end of the year. Extreme Fear: The Fear & Greed Index is at 23, and the market has been in the "extreme fear" zone for 14 consecutive days, with retail investor sentiment extremely low. Key liquidation points: BTC: A break above $89,000 would trigger a $400 million short liquidation; a drop below $86,000 would trigger a chain reaction of $550 million long liquidations. ETH: Currently struggling around $2,950, if it falls below $2,900 it will face pressure from nearly $400 million in long positions being liquidated. 🐋 Whale and Project Updates HYPE Team Release: 1.2 million HYPE tokens (approximately $30 million) have been unstaking at the Hyperliquid team address and are scheduled to be distributed to team members on January 6. Huang Licheng's movements: "Machi Big Brother" has added to his HYPE long positions again, currently holding approximately 8,200 ETH long positions, with a floating loss of approximately $240,000. Merger rumors: South Korean financial giant Mirae Asset is in talks to acquire the Korbit exchange, with the deal valued at approximately $100 million.