[BlockBeats] In the past week, there has been a significant wave of Ethereum withdrawals from centralized exchanges. According to tracking data from Coinglass, as of December 7, over 206,400 ETH have flowed out from major CEXs in the past seven days. Leading this withdrawal wave is a top exchange, with 92,300 ETH withdrawn from its platform alone, accounting for nearly half of the total. Closely following is the compliant platform Kraken, with 79,400 ETH outflows. Another mainstream exchange also contributed 36,000 ETH to the outflow. Interestingly, not all platforms are seeing outflows. One exchange actually attracted a net inflow of 2,271.69 ETH against the trend, making it the only net gainer during this period. Such large-scale ETH withdrawals from exchanges usually indicate that holders are opting for self-custody or moving to on-chain operations. The underlying shift in market sentiment is worth paying attention to.
[BlockBeats] On December 7, a16z published an article discussing an urgent topic: Can Bitcoin withstand attacks from quantum computers? The conclusion is rather pessimistic—if we don't upgrade to quantum-resistant signatures now, it might be too late in the future. Where's the trouble? Two major issues. The first is efficiency lag. Bitcoin is notorious for slow upgrades, and if the community can't reach consensus, it's easy to end up with a hard fork. Just look at historical disputes to see how tough it is. Now, to push a quantum-resistant solution, even reaching consensus could take an unknown amount of time. The second issue is even more critical—migration relies on self-initiative. Unlike some chains that can enforce upgrades, Bitcoin holders must manually move their coins to new addresses. Here's the problem: What about those wallets that have been dormant for years? Satoshi's coins, coins with lost private keys, coins whose owners have passed away... all of these are exposed to quantum threats. a16z estimates that there are several million high-risk Bitcoins, worth hundreds of billions of dollars at current prices. If quantum
Bro, just looking at this situation feels pretty hopeless... Hundreds of billions of dollars get hit like this, and it still relies on people to voluntarily migrate. This logic really is a bit absurd.
[Chain News] Just saw some pretty shocking news—a direct statement from the US SEC Chairman in a recent interview. He said that the entire financial system will shift toward Bitcoin and cryptocurrencies in the coming years, and specifically emphasized, "This is the future of the world." Hearing this from the mouth of the SEC Chairman carries a lot of weight. You have to know, the SEC has always been a strict regulator of the crypto industry, so for the top official to publicly express this attitude is, in a sense, a reassuring sign for the industry. The boundaries between traditional finance and the crypto world may really be blurring at an accelerated pace.
XRP is about to launch smart custody features, adding programmable conditional logic and enhancing automation capabilities. However, current XRP price volatility and the impact of regulatory proposals pose challenges to its future development.
Smart custody sounds good, but isn't releasing it at this time a bit like being a Monday morning quarterback? The regulatory sword is still hanging over our heads.
Franklin Templeton's XRP spot ETF performed well within its first week of listing. As of December 5, the number of XRP under management approached 63 million, with a market value of approximately $127.8 million. The total net assets reached $125.6 million, and the circulating shares increased to 5.7 million, indicating strong market acceptance of the ETF.
The co-CEO of a leading exchange clarified that the platform has no connection with the token project and emphasized that employees are not allowed to participate in token issuance. Official Twitter content is managed by the operations team, and statements may be misunderstood. Employees are encouraged to innovate, but this does not involve tokens. Lastly, investors are reminded to be aware of risks.
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NoodlesOrTokens:
These people in the community are really something. No matter what the official account tweets, they can always read into it as a token launch signal. Their ability to catch keywords and create memes is top-notch.
A leading exchange launched the Power Protocol (POWER) USDT-margined perpetual contract on December 6, supporting up to 20x leverage and increasing trader flexibility. Investors should carefully manage risk to address the challenges brought by high leverage.
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RektButStillHere:
20x leverage? This looks like another round of harvesting retail investors. I bet five bucks there will be an incident within a week.