Important news from last night and this morning (December 21-December 22)

Shanghai silver futures broke through the 16,000 yuan/kg mark, setting a new historical high.

The main contract for Shanghai silver futures once rose by more than 5%, breaking through the 16,000 yuan/kg mark and setting a new historical high. It has accumulated a gain of more than 114% so far this year.

Spot gold hits record high

Spot gold broke through the October 20 high of $4,381.4 per ounce, setting a new all-time high.

The US House of Representatives is considering establishing a tax safe harbor for stablecoins and crypto asset pledging, and clarifying the tax framework.

According to Zhitong Finance, bipartisan members of the U.S. House of Representatives are working together to draft a cryptocurrency tax framework that would provide a safe harbor for some stablecoin transactions and defer taxation on rewards earned through verifying blockchain transactions. While broader digital asset regulatory legislation is still under negotiation, the cryptocurrency industry remains urging for legislation to clarify the tax treatment of digital assets. Ohio Republican Representative Max Miller and Nevada Democratic Representative Steven Horsford have responded to these calls by drafting a bill to align cryptocurrency taxation with traditional securities. The draft, which includes the bill's text and policy objectives, proposes exempting transactions of regulated stablecoins with a long-term value between $0.99 and $1.01 from capital gains tax. The proposal also attempts to establish safe harbor rules for the allocation and processing of rewards earned through staking and mining, which involve verifying blockchain transactions. The draft also includes cryptocurrencies in a tax system that covers securities transactions and some commodity transactions. Capital gains tax exemptions enjoyed by foreign investors trading securities through domestic third parties and by securities lenders will also apply to digital assets.

The central bank released a one-off credit repair policy to support post-pandemic credit reconstruction.

According to a notice from the People's Bank of China, to support individuals whose credit was damaged during the pandemic but who have actively repaid their debts in rebuilding their credit, a one-time credit repair policy will be implemented. Records of single overdue payments not exceeding 10,000 yuan, made between January 1, 2020 and December 31, 2025, and repaid by March 31, 2026, will be deleted from the credit reporting system. The policy will be handled uniformly by the Credit Reference Center of the People's Bank of China, requiring no individual application, and is expected to be implemented in batches starting in 2026. Furthermore, from January 1 to June 30, 2026, individuals can, in addition to the two free annual inquiries to their credit report from the Financial Credit Information Basic Database, conduct two additional free credit report inquiries per year.

A whale sold off 230,000 AAVE tokens in the past three hours, causing the price to drop by approximately 10%.

According to Onchain Lens, a whale sold off 230,350 AAVE in the past 3 hours, in exchange for 5,869.46 stETH (approximately $17.52 million) and 227.8 WBTC (approximately $20.07 million), causing the price of AAVE to drop by about 10%.

In the past four hours, approximately $30 million worth of contracts were liquidated across the entire network, with LIGHT and BEAT ranking first and second in terms of liquidation amount.

According to CoinAnk data, in the past four hours, the total liquidation amount for cryptocurrency futures contracts across the entire network reached $30.0394 million, including $14.4103 million in long positions and $15.6291 million in short positions. The top two cryptocurrencies by liquidation amounted to $6.5179 million and $5.0836 million respectively. Market data shows that in the early hours of today, the price of LIGHT token plummeted by approximately 80%, from $4.6 to less than $0.8. The price of BEAT token also experienced significant volatility in the early hours of today.

Coinbase CEO: Prediction markets should be regulated by the CFTC

Coinbase CEO Brian Armstrong posted an article early this morning stating that prediction markets should be regulated by the U.S. Commodity Futures Trading Commission (CFTC), and any state government claiming otherwise is hindering Americans from using tools that could enhance their competitiveness. Last week, Coinbase sued the states of Michigan, Illinois, and Connecticut over the regulation of prediction markets.

Michael Saylor has released another Bitcoin Tracker update; he may disclose his accumulating data next week.

Michael Saylor, founder and executive chairman of Strategy (formerly MicroStrategy), has once again posted Bitcoin Tracker information on the X platform. Based on past experience, Strategy typically discloses its Bitcoin accumulation data the day after he posts the Bitcoin Tracker information.

Data: H, XPL, SOON and other tokens will see large-scale unlocking, with H unlocking value estimated at approximately $14.8 million.

According to Token Unlocks data, tokens such as H, XPL, and SOON will see large-scale unlocks next week. Specifically: Humanity (H) will unlock approximately 105 million tokens at 8:00 AM Beijing time on December 25th, representing 4.79% of the circulating supply, worth approximately $14.8 million; Plasma (XPL) will unlock approximately 88.89 million tokens at 8:00 PM Beijing time on December 25th, representing 4.5% of the circulating supply, worth approximately $11.7 million; SOON (SOON) will unlock approximately 21.88 million tokens at 4:30 PM Beijing time on December 23rd, representing 5.97% of the circulating supply, worth approximately $8 million; MBG By Multibank Group (MBG) will unlock approximately 15.84 million tokens at 8:00 PM Beijing time on December 22nd, representing 8.42% of the circulating supply, worth approximately $8.1 million; Undeads Games (UDS) will unlock approximately 2.15 million tokens at 8:00 AM Beijing time on December 23, representing 1.46% of the circulating supply, worth approximately $5.2 million.

"Brother Machi" holds a long position in ZEC with 10x leverage, with a position value of approximately $390,000.

According to Hyperinsight monitoring, Huang Licheng's address, known as "Maji Dage," added a 10x leveraged long position in ZEC, with a holding value of approximately $390,000 and an opening price of $439.24. In addition, he also holds a 25x leveraged long position in ETH, with a position of 5,200 ETH, a floating profit of $266,000, and a liquidation price of approximately $2,789.

Federal Reserve's Hamak: Neutral interest rate may be higher than generally expected; November inflation may have data collection distortions.

According to Jinshi News, Federal Reserve official Hamak stated that the positive inflation data for November may be due to data collection distortions caused by the government shutdown in October and the first half of November, which underestimated 12-month price growth. Although the Bureau of Labor Statistics reported a 2.7% year-on-year increase in the November CPI, the estimate, adjusted for measurement difficulties, brought it closer to the 2.9% or 3.0% level commonly expected by forecasters. Furthermore, Hamak's core concern regarding interest rate cuts lies in her view that the neutral interest rate is higher than generally believed, and that the economy itself has the momentum to maintain robust growth next year. The neutral interest rate cannot be directly observed, but it can be inferred from economic conditions.

A newly created wallet withdrew approximately 104,500 LINK tokens from Binance, worth approximately $1.32 million.

According to Arkham's monitoring data, a newly created wallet withdrew 104,503 LINK tokens from Binance half an hour ago, worth $1.32 million. Recently, large whales are suspected of accumulating LINK; another large whale, 0xf44, has withdrawn approximately 630,000 LINK tokens from Binance in the last two days, worth nearly $8 million.

"Brother Machi" closed all his long positions in BTC and HYPE 15 minutes ago, resulting in a net loss of approximately $1.46 million for the week.

According to on-chain data monitoring, Huang Licheng, known as "Brother Machi," closed all his long positions in Bitcoin and HYPE 15 minutes ago. He currently holds a long position in Ethereum with 25x leverage, holding 5400 ETH, with a liquidation price of approximately $2795. As of now, Brother Machi has made 15 long trades this week, with 12 profitable and 3 losing trades, a win rate of 80%. His overall net loss for the week is approximately $1.46 million.

10x Research: BTC mining companies and crypto firms underperformed this week, and the market has yet to reverse its downward trend.

10x Research released its weekly crypto market review, noting that Bitcoin prices remain low due to global policy uncertainty and legislative delays, with the market downturn yet to be reversed. Cryptocurrency listed companies generally performed poorly. Coinbase's new product launch failed to offset the overall market weakness, and Strategy's stock price remained weak. Although ARK Invest increased its holdings in BitMine, it did not boost the stock price. Among Bitcoin mining companies, Bitdeer faces class-action lawsuit pressure, CleanSpark's earnings fell short of expectations and it faced insider selling, Iren received a neutral rating and its stock price declined, and despite TeraWulf completing a large financing round, its stock price still fell due to equity dilution.

A major whale withdrew 2,000 ETH, worth $5.98 million, from Binance half an hour ago.

According to on-chain analyst Ai Yi, a whale that profited $1.506 million from three ETH swings over 11 months has started its fourth swing: half an hour ago, it withdrew 2,000 ETH from Binance, worth $5.98 million, at a withdrawal price of $2,991.65; its most recent swing ended a month ago during a rapid decline, which was also the only time the address incurred a loss.