Swedish Hilbert Group acquires high-frequency trading platform Enigma Nordic for $32 million, aiming to integrate its technology into hedge fund products and connect traditional finance with the crypto market. Enigma's quantitative engine performs well, with significantly improved risk-adjusted returns. This transaction reflects the increasing importance of data-driven trading strategies among institutional capital.

【Crypto World】On-Chain researcher Specter has revealed the latest developments in a major theft case. Yesterday, an address that lost 50 million USDT due to phishing on the chain made a direct call to the attacker— the message was quite straightforward— an official case has been filed.
The victim has mobilized law enforcement agencies, cybersecurity experts, and multiple blockchain protocols, gathering a large amount of actionable intelligence regarding the attacker’s activities. Even more intense, the wallet controlled by the attacker is now under 24/7 surveillance, with every move being watched.
Next comes the negotiation phase. The victim has presented a clear proposal: the attacker must return 98% of the stolen assets to a designated address within 48 hours. In exchange, a $1 million bounty will be offered— as a reward for "discovering and disclosing" the vulnerability. Of course, this entire proposal hinges on the attacker fully cooperating and acting promptly.

【BitPush】On-chain monitoring data shows that two related addresses have made significant moves within the past 1 hour. The main actor in this operation bought 5678 ETH at an average price of $2985.7 in a single transaction, spending $16.95 million. Interestingly, the same entity participated in the market from December 3 to December 12, investing $14.97 million at that time, and exited profitably with a gain of $137,000. Now they are adding to their position again, indicating that this large holder still has confidence in the current price. Such frequent whale activities often suggest that market participants are actively adjusting their positions.

【CryptoPunk】There's something to say—MSCI might kick companies with large digital asset holdings out of the index.
According to the latest information, MSCI made a proposal in October: any company with digital asset holdings accounting for 50% or more of total assets will be removed from the global benchmark index. What's the reason? MSCI believes these companies are more like investment funds, and funds themselves are not within their index scope.
However, this idea has faced opposition from many companies. Many firms have expressed their disagreement— we're not just a fund; we're engaged in actual operations and developing real innovative products. The implication is that MSCI's standards are too unfair to the crypto industry.
How serious is the issue? Analysts did some calculations: if truly removed from the index, certain Bitcoin-heavy companies could face a demand drop of about $9 billion in their stocks. This is not just a matter for individual companies; it affects the entire sector.

【Chain Wen】Ethereum Treasury Concept Company Bitmine Immersion Technologies has new developments. This company, listed on major exchanges in the United States, confirmed that it will hold its annual shareholders' meeting in Las Vegas on January 15, 2026.
The scale of this meeting is quite significant—eight new directors will be elected, with a one-year term. But the main event is not limited to this. In addition to the director re-election, several key proposals will be voted on: a proposed amendment to the articles of incorporation regarding the authorized number of common shares, which relates to the company's financing capacity; approval of the 2025 comprehensive incentive plan, indicating the company's efforts to build a new employee incentive system; and a special performance-based compensation arrangement for the executive chairman will also be finalized.
From these actions, it appears the company is making personnel and institutional arrangements for its upcoming development. For those interested in this company or in the governance of listed crypto assets, these are all noteworthy pieces of information.

Gemini, along with over 125 companies, calls on the U.S. Congress to maintain the original form of the "Genius Act," emphasizing the importance of stablecoin incentives for consumers and market competition. Changing the bill would undermine stablecoin ecosystem innovation and industry expectations, damaging the stability of the legal framework.

【链文】有意思的事儿发生了。Lighter代币合约刚刚搞了个大动作——4小时前一次性转移了2.5亿枚代币出去，这可是总供应量的四分之一啊。
这笔转移目前还笼罩着迷雾。官方没有给出说法，但社区里已经炸开了锅。大家各有各的猜测，最靠谱的说法是这笔代币可能是在为即将到来的空投做准备。也有人觉得可能是某种生态激励或者流动性安排。
不过这种大额转移确实值得关注。通常这类动作要么是团队的战略部署，要么是市场会有后续变化。得继续观察后续进展，看官方或社区有没有更多信息披露。

【Chain Wen】Recently, at a wealth management summit, the head of institutional business at a leading exchange shared a core viewpoint: compliance has long ceased to be an option and has become the foundation for the long-term survival and steady development of exchanges.
To put it more plainly, if an exchange wants to survive longer and do well, compliance must be prioritized. The leader mentioned that their team is actively advancing compliance construction in multiple regions worldwide, proactively adapting to regulatory rules in different countries and areas, with the goal of providing institutional and professional traders with a safe, transparent, and sustainable digital asset trading environment. This attitude is indeed completely different from the reckless style of a few years ago.
Another point worth noting is the development trend of RWA (Real World Assets). This exchange has already conducted early explorations in the RWA field and is now accelerating the on-chainization and large-scale application of RWA. Their approach is very clear: to collaborate with traditional banks and financial institutions

Bitcoin faces a threat from quantum computing, which is not only a physics problem but also an engineering challenge. Addressing this requires adopting post-quantum signature schemes; however, the process is complex and time-consuming. If locked Bitcoin is attacked, it will become uncontrollable. The community must urgently collaborate to respond, as time is of the essence.

【Crypto World】On December 20, the overall cryptocurrency market showed little volatility, but some individual coins exhibited significant divergence. In terms of gains, LEO performed the strongest, with a current price of $7.872, up 6.15% for the day. Following closely is RPL, priced at $1.961, with a 5.32% increase. CORE also performed well, at $0.132, up 4.74%. Additionally, APT is reported at $1.637, up 4.27%, and ZRO at $1.36, up 3.34%.
In terms of declines, STRK experienced the most significant drop, currently at $0.0821, down 1.44% for the day. AAVE is next, priced at $180.57, down 1.43%. ORDI is at $3.994, down 1.26%. The declines of FLOW and EGLD were relatively mild, at $0.175 and $6.596 respectively, with declines of

【Blockchain Rhythm】Recently, there is a noteworthy phenomenon—on-chain data shows that the demand for Bitcoin has significantly slowed down.
Breaking it down, since 2023, Bitcoin has experienced three obvious waves of spot demand: the launch of the US spot ETF, the US presidential election, and the Bitcoin treasury company boom. But these driving forces have all faded, especially since early October this year, when demand growth has fallen below the trend line. Simply put: the additional demand that can be stimulated in this cycle has basically been exhausted.
From the derivatives perspective, the signs are also evident. The funding rate of perpetual futures (based on the 365-day moving average) has fallen to its lowest level since December 2023. Historically, such a decline usually indicates waning bullish positions—that’s more like a bear market signal, not a bull market.
The technical deterioration is even more straightforward. Bitcoin has broken below the 365-day moving average, which has historically been a dividing line between bulls and bears.

The SEC has imposed severe penalties on former FTX management, with Caroline Ellison and two others choosing to accept responsibility and reach settlements, barred from holding management positions for 8 to 10 years. It will be difficult for them to make a comeback in the crypto industry in the future.

Synthetix has decided to abandon the Layer-2 solution and return to the Ethereum mainnet due to a significant decrease in transaction fees on the mainnet. Its V3 version is currently in testing, emphasizing security and attracting liquidity providers. This move may inspire other protocols fleeing Ethereum due to costs, indicating a rebound in the mainnet's attractiveness.

NEAR Protocol has recently faced selling pressure, with the support level of $1.83 broken. However, technical indicators show oversold signs, potentially leading to a rebound. Meanwhile, NEAR's listing on the Solana platform has increased liquidity and driven trading volume higher. If the bulls can hold above $1.83, the short-term rebound target may be around $2.