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A summary of major market events on December 14.

Bitwise's top ten crypto index fund has officially been listed and is now trading as an ETF on NYSE Arca.

As the crypto market remains sluggish, industry leaders are pinning their hopes on investors from the UAE.




What have foreigners been most concerned about in the past 24 hours?

What has Hyperliquid experienced recently?

The conflict between Aave Labs and Aave DAO over front-end integration and fee attribution essentially questions a core issue: who should control and distribute the value created by the protocol.

Despite having a correlation as high as 0.9 with major crypto tokens, small-cap tokens have failed to provide any diversification value.
- 10:05Do Kwon may still face a second trial in South Korea after being sentenced to 15 years in the USJinse Finance reported, citing Cryptonews, that Terraform Labs co-founder Do Kwon, after being sentenced to 15 years in prison by a U.S. federal court in Manhattan for orchestrating the $40 billion TerraUSD collapse, may still face a second trial in South Korea. According to reports, South Korean prosecutors are seeking a sentence of more than 30 years for Do Kwon on charges of violating capital market laws. The 34-year-old South Korean national may apply for transfer to South Korea after serving half of his sentence. Approximately 200,000 South Korean investors suffered losses of about 300 billion won ($204 million) as a result. U.S. District Judge Paul Engelmayer stated during sentencing last week: "In the history of federal prosecutions, few fraud cases have caused such severe damage." Do Kwon has admitted to deliberately participating in a scheme to defraud Terraform Labs cryptocurrency purchasers between 2018 and 2022, which led to the collapse of the TerraUSD stablecoin and Luna token in May 2022, triggering a chain reaction in the cryptocurrency market.
- 09:53Financial Times: Stablecoins Will Usher in a "Supercycle" Reshaping the Banking Industry Within Five YearsAccording to ChainCatcher, citing a report by the Financial Times, technology experts predict that blockchain stablecoins will trigger a "super cycle" within five years, with more than 100,000 such payment systems potentially emerging worldwide, forcing a fundamental restructuring of the financial system. Stablecoins threaten the traditional banking deposit base and the ability to supply credit, as they facilitate payments but not credit. The European Central Bank is concerned about the loss of sovereignty and is accelerating the launch of digital currency. Commercial banks are fighting back by converting traditional deposits into "deposit tokens." Lloyds Bank CEO Charlie Nunn stated that combining AI can redesign financial services. JPMorgan's daily tokenized payment volume is about $5 billion, which is still small compared to mainstream payments of $15 trillion. However, tokenized bank deposits have advantages: 24/7 transfers without correspondent banks, anti-money laundering protection, central bank endorsement, the ability to pay interest, and support for smart contract automation. These features are expected to help banks maintain regulatory advantages and withstand competition from stablecoins.
- 09:39Analysis: After the Federal Reserve cuts interest rates, capital flows out of the United States, and assets in Europe and Asia attract investmentChainCatcher news, according to financefeeds, the Federal Reserve cut interest rates by 0.25% as expected (with 3 dissenting votes). Powell confirmed that after another rate cut in 2026, there will be a pause. The market has started to digest dovish remarks from new chairman candidate Kevin Hassett (who mentioned the possibility of more than three rate cuts). Meanwhile, the Federal Reserve announced monthly repurchases of about $40 billion in short-term Treasury bonds, lowering real interest rates and providing liquidity, which is mildly positive for stocks, metals, and cryptocurrencies. Compared to the US dollar, major currencies such as the euro and yen are showing a hawkish narrative. The yield on Germany's 30-year government bonds reached a record high, attracting capital inflows into European assets. Precious metals surged strongly: gold broke through $4,300, silver hit a historic high, and platinum and palladium also reached mid-term highs. Bitcoin is fluctuating narrowly in the $92,000-$93,000 range, trying to find demand after large ETF outflows. Bloomberg experts say hedge funds are preparing for a rebound. The DAX index has been forming a large consolidation pattern since June 2025 and is expected to break out; the Hang Seng Index is consolidating above the 200-day moving average and may reverse after testing the 24,500 support area.