What is the crypto community saying about today's controversy? Hot responses from industry leaders

December 15, 2025 — Over the past 24 hours, the cryptocurrency market has once again witnessed intense debates within the global community. From security warnings issued by on-chain investigators to controversies over promotional behaviors by top leaders, this period clearly reflects deep concerns within the industry.

Notable Security Warnings

Famous on-chain investigator ZachXBT has announced a series of alarming findings regarding potential links between exchanges. According to the investigation, smaller exchanges may be connected to a larger illegal network. This discovery builds on ZachXBT’s previous investigative work, when he uncovered a high-tech theft that resulted in victims losing $243 million. That case led to multiple arrests and significant asset seizures.

These new findings reveal systemic risks within the industry, with the potential existence of organized criminal activities more complex than public perception.

Industry Leaders Criticized for Promoting Risky Projects

Another controversial event involved a product manager at a major exchange publicly promoting a meme coin issued on a new blockchain, spending over $1,500 to purchase tokens. This action was immediately criticized by the community, as the project exhibited many typical signs of a scam, from its name to token distribution methods.

This controversy raises an important question: To what extent should industry leaders be held responsible when promoting high-risk projects? The actions of influential figures can not only lead retail investors down risky paths but also damage the reputation of the entire ecosystem.

New Developments in Major Ecosystems

Developments at Solana after the Breakpoint Conference

Solana’s annual Breakpoint event has sparked highly polarized responses from the community. Some leaders, including researchers from top funds and founders of major projects on the network, praised the technological advancements achieved by Solana. They noted that what is truly remarkable is the increasing participation from traditional finance, as well as the shift in discussions from speculative stories to real-world applications. One founder even stated that the “crazy” dreams from five years ago, such as tokenizing stocks and bonds, have now become reality on the network.

However, not all opinions are optimistic. Some key industry figures painted a gloomier picture, describing the conference mood as “dispirited.” They believe that project developers, venture capitalists, and traders are all going through tough times, with many pioneers quietly retreating from the industry.

Despite the complex market sentiment, Solana announced significant progress. A leading wallet application revealed plans to launch a debit card in partnership with an international payment organization, aiming to connect digital assets with everyday spending. Meanwhile, data shows that Solana’s total value locked (TVL) has increased tenfold since 2023, and trading volume during peak periods is five times higher than Ethereum’s.

New Funding Mechanisms on Ethereum

The platform supporting public projects on Ethereum has introduced an innovative capital allocation mechanism called StreamVote. Instead of traditional periodic grants, this system allows continuous funding to projects voted on by the community through real-time voting results. This enables projects to attract ongoing capital based on their actual development progress. A second-layer voting mechanism is implemented to prevent attacks and encourage more diverse vote distribution.

Challenges and Opportunities in New Chains

A high-performance public chain compatible with Ethereum has announced it will open its development platform to application programmers. Meanwhile, another newly launched public chain faces investor sentiment challenges after issuing tokens. Project leaders on this chain acknowledged that overly ambitious marketing strategies created unrealistic expectations, and they are calling on the community to focus on long-term building—citing successful public chains today that have gone through similar phases.

Vibrant Competition in the Perpetual Contract Market

Decentralized derivatives exchanges are experiencing increasingly fierce competition. A leading exchange recently announced new features allowing users to collateralize multiple asset types, bringing it closer to the functionality of centralized exchanges. These updates are seen by the community as potentially positive for lending protocols on EVM-compatible blockchains.

However, the market has also seen significant incidents. Another exchange was exploited through a market manipulation strategy, where a new address executed a large short order, triggering a liquidation chain that closed over $13 million in long positions. This event highlights the potential risks of operating perpetual markets on assets that do not trade 24/7.

The community also compares different development strategies of upcoming tokenized exchanges. Some focus on partnering with existing large organizations, expecting profits from integration capabilities. Others aim to build a complete independent financial ecosystem. This difference is also reflected in their token designs: ecosystem tokens tightly linked to activity, while others have more limited utility.

These discussions demonstrate that the international crypto community is still undergoing a transformation, where questions of security, leadership responsibility, and long-term development are all being reconsidered.