December 10, 2025 #Base日报 (December 3-December 9)

1. Coinbase and Base
1、Coinbase
(1) BlackRock ( BlackRock ) Crazy Buying:
On December 3, IBIT's trading volume exceeded $1.8 billion in 2 hours; On December 5, the chain monitored BlackRock depositing hundreds of millions of BTC/ETH to Coinbase Prime for liquidity management.
(2) PNC Bank Entry (12/9):
PNC, a major U.S. bank, launches Bitcoin trading services for private banking customers, powered directly by Coinbase;
(3) Brian Armstrong praised the CFTC pilot program:
The U.S. CFTC announced that it would allow BTC, ETH, USDC to be used as collateral for derivatives trading, which he praised as a "huge step forward in updating the financial system" and means that regulators want to keep crypto businesses on domestic compliance platforms, which is a long-term good for Coinbase.

2、Base
(1) TVL exceeded $5 billion (12/5-12/6):
Benefiting from ETH price fluctuations and institutional capital spillovers, Base Chain's TVL once exceeded $5 billion this week (L2Beat data), ranking second in Ethereum L2 (second only to Arbitrum), and some data sources show that its activity has surpassed the former.
(2) Layer 3 Extension (12/9):
Privacy protocol Horizen has announced the launch of a Layer 3 network on Base. This verifies that Base is becoming the core settlement layer of the "Superchain";
(3) Base data

2. Farcaster
1. Strategic adjustment of ecological development
Dan @dwr added that the development of the entire protocol was social-oriented before, but user growth encountered bottlenecks. At present, it has changed to wallet-based, but this will not affect everyone to only use social functions, if you don't like to use wallets, you can use other clients for social networking. The community has mixed reviews about this!

2、Clanker
(1) Continuous repurchase The $Clanker
team continues to repurchase, and currently holds 1.9% of the circulating supply, and the holding volume has reached 19,891 (Lao Tie, the strength can be considered larger) @dwr

(2) Clanker Spotlight update
In this section, the existing projects will be focused on, so it is estimated that there is a high probability that the high-quality projects displayed before will be repeatedly exposed to gain traffic; What is currently on display is $QR

3. Mini APP recommendation: pause 1 time.

To sum up: The biggest change in FC is to shift to wallet function development, after all, the team wants to pursue user growth. (Based on this assessment: I estimate that the time for FC to issue tokens will not be too far away, and its tokens are often very important for any ecosystem that specializes in finance)

3. ZORA and VIRTUAL ecosystems are tentative