Crypto Morning News: He Yi Appointed Co-CEO of Binance, Ethereum Fusaka Upgrade Successfully Launched

Author: TechFlow

Yesterday’s Market Update

US November ADP Employment: -32,000, expected 10,000, previous 42,000

According to Jinshi Data, US November ADP employment was -32,000, expected 10,000, previous 42,000.

US SEC Chair: Bitcoin Market Structure Bill About to Pass

According to The Bitcoin Historian, US Securities and Exchange Commission (SEC) Chair Paul Atkins said in a live interview with Fox News that the Bitcoin market structure bill is about to pass.

Binance Co-founder He Yi Appointed as Co-CEO

According to an official announcement, Binance co-founder He Yi has been appointed as Co-CEO and will jointly lead the company with current CEO Richard Teng.

Ethereum “Fusaka” Upgrade Successfully Launched, Ushering in a New Era of Twice-Yearly Hard Forks

According to The Block, Ethereum’s 17th major upgrade “Fusaka” was successfully launched on December 3. This upgrade introduces a data sampling technology called “PeerDAS,” which will significantly enhance Layer 2 network performance and lower transaction fees. Consensys stated that Ethereum now plans to accelerate its development pace by moving from annual to “twice-yearly hard forks.” Fusaka also brings block capacity expansion, native device signature support, and improved zero-knowledge proof efficiency. The next major upgrade, “Glamsterdam,” is expected in 2026.

Reuters: WLFI Announces Launch of RWA Product in January Next Year

According to Reuters, Zach Witkoff, co-founder of the World Liberty Financial crypto project supported by the Trump family, announced at an event in Dubai that the company will launch its real-world asset product in January of the first quarter next year.

Solana Mobile Announces SKR Token to Launch in January 2026

On December 3, Solana Mobile announced that its ecosystem native token SKR will officially launch in January 2026. The total supply is 10 billion tokens, distributed as follows: 30% for airdrops, 25% for growth and partnerships, 10% for liquidity, 10% for community treasury, 15% to Solana Mobile, and 10% to Solana Labs. The inflation mechanism is linear: 10% in the first year, decreasing by 25% each year, and stabilizing at 2%. The token targets Seeker device users and active dApp users.

Stable Releases Tokenomics: Fixed Supply of 100 Billion, 40% Allocated to Ecosystem and Community

Stable officially released its tokenomics. STABLE, as the network governance token, has a fixed total supply of 100 billion. The allocation plan: 40% to ecosystem and community development, 25% to team members, 25% to investors and advisors, and 10% for genesis distribution.

The token unlock mechanism shows long-term commitment: team and investor portions are unlocked linearly over 4 years with a 1-year cliff; ecosystem portion has 8% unlocked initially, the remaining 32% unlocked linearly over 3 years; genesis distribution is 100% unlocked at mainnet launch.

The STABLE token will support network governance, including validator elections, protocol upgrade voting, and governance proposals. Notably, the Stable network uses USDT0 as its native gas fee token, with fees collected in a treasury managed by smart contracts. Validators may choose to proportionally distribute gas fees to users staking STABLE.

In addition, the mainnet will officially launch at 21:00 Beijing time on December 8.

YZi Labs Accuses BNB Treasury Company CEA Industries’ Asset Manager 10X Capital of Mismanagement and Threatening to Drop BNB Strategy

According to an official announcement, major shareholder YZi Labs Management Ltd. sent a formal notice and request for correction to asset manager 10X Capital Asset Management LLC of BNB treasury company CEA Industries, Inc. (NASDAQ: BNC).

YZi Labs accuses 10X Capital of mismanagement and lack of transparency, and of threatening to breach its strategic services agreement with YZi Labs. The core dispute is that 10X Capital has threatened to abandon the BNB treasury strategy and instead invest in other cryptocurrencies such as Solana, contradicting the company’s previous commitment to PIPE investors to use $500 million to “build the company’s BNB treasury operations.”

YZi Labs requires 10X Capital to confirm in writing by December 5 that it will comply with the BNB treasury strategy and properly handle BNB assets. It also points out that under 10X Capital’s management, BNC’s stock price has significantly underperformed peers—down about 19% from pre-PIPE announcement levels and 87% from post-announcement levels.

YZi Labs has submitted a preliminary consent solicitation to the US SEC, seeking to expand the board and appoint independent directors.

Forward Industries: Total SOL Holdings Exceed 6.9 Million, Launches Liquid Staking Token fwdSOL

According to Businesswire, NASDAQ-listed Solana treasury company Forward Industries disclosed its latest operational data, stating it has purchased 6,834,505.96 SOL at an average price of $232.08. Including staking rewards, total SOL holdings reached 6,921,342 as of December 1. The company also launched the liquid staking token fwdSOL, aiming to maximize SOL staking yields and serve as DeFi collateral.

Reuters: Strategy in Talks with MSCI Regarding Potential Index Removal

According to Reuters, Strategy is in communication with MSCI regarding possible removal from the index. Chairman Michael Saylor confirmed during the Binance event in Dubai, “We are participating in this process.”

MSCI will make a final decision on January 15. According to a JPMorgan research report last month, if other index providers follow MSCI’s lead, up to $8.8 billion in outflows could occur. Strategy is currently a constituent of both the MSCI USA and MSCI World indices, with a large portion of its market capitalization tied to passive investment tools like ETFs. JPMorgan notes that removal could raise questions about the company’s future equity and debt financing costs and capabilities.

Antithesis Raises $105 Million Series A Led by Jane Street; Tech Used in Ethereum Network Testing

According to CoinDesk, distributed systems testing startup Antithesis completed a $105 million Series A round led by quantitative trading firm Jane Street. Other investors included Amplify Venture Partners, Spark Capital, Tamarack Global, and individuals such as Stripe co-founder Patrick Collison. Antithesis reports revenue has grown over 12x in the past two years and will use the funds to expand engineering, improve automation, and accelerate global expansion.

Antithesis provides deterministic simulation testing for “never-fail” systems like blockchains, running production-scale simulations to uncover edge cases that may cause real-time network failures. Its core advantage is the ability to precisely reproduce errors when the system fails, helping engineers quickly pinpoint issues.

Reportedly, the Ethereum network used Antithesis simulation technology for stress testing before “The Merge” to simulate extreme conditions and identify potential vulnerabilities before shifting to proof-of-stake.

Decentralized Exchange Ostium Raises $20 Million Series A Led by Jump Trading and Others

According to Fortune, decentralized exchange Ostium, founded by two Harvard graduates, closed a $20 million Series A led by VC firm General Catalyst and Jump Trading’s crypto arm. Other participants included Coinbase Ventures, market makers Wintermute and GSR. Sources say this round values Ostium at about $250 million, with the company previously having raised about $8 million.

Ostium was founded in 2022 by co-founder and CEO Kaledora Kiernan-Linn and Marco Antonio Ribeiro. Unlike protocols like Hyperliquid that focus on crypto perpetuals, Ostium focuses on trading tangible assets such as metals and energy and plans to use the new capital to expand into non-crypto user markets outside the US. Ostium is a platform specializing in perpetual contract trading, allowing users to trade real-world assets such as stocks, metals, oil, and some cryptocurrencies.

Market Update

Recommended Reading

12 New Projects: An Overview of Solana’s Officially Endorsed Privacy Projects

This article provides a comprehensive introduction to 12 privacy projects officially recommended by Solana, covering areas such as cryptographic computation, privacy infrastructure, payments and wallets, trading, prediction markets, and smart protection. It showcases Solana’s latest progress in privacy technology and applications.

2026: The Year of Federal Reserve Regime Change

This article discusses the upcoming regime change at the Federal Reserve in 2026 and how Trump’s nominee, Hassett, could impact Fed policies, interest rate decisions, and markets. It also explores the potential effects on the crypto industry, stocks, gold, and other asset classes, and analyzes the balance of power within the Fed and possible future policy directions.

What’s Going On With Restaking?

This article deeply analyzes EigenLayer’s journey with restaking, exploring its achievements, challenges, and future development. It reviews the project’s original intentions, difficulties encountered during implementation, and the lessons learned, while looking ahead at future strategies, including strengthening token economics, expanding developer tools, and focusing on AI.

The Era of Getting Rich Quick in Crypto Is Over—Bear Market Advice for Retail Investors

This article discusses how the crypto market has matured, and the era of getting rich quickly—especially through mainstream coins like Bitcoin and Ethereum—has largely passed. The article offers practical advice on surviving a bear market, adjusting investment mentality, and planning for future wealth accumulation.

Elon Musk Predicts “Great 12 Years” for US Politics: Vance to Succeed Trump and Win Re-election

This article details Elon Musk’s prediction that the US political arena will see a “great 12 years,” starting with Trump’s second term and followed by Vance winning consecutive terms. He made this statement via video at a private event, expressing concern over domestic political conflict and optimism about technology and the future. Although Musk claims to have stepped back from politics, he may still support Vance’s campaign. The article also covers crypto market updates and other comments from Musk.