Two pieces of news on December 11th worth paying attention to:

A certain leading exchange's co-CEO He Yi revealed that an internal operations staff member has been judicially processed for embezzlement, and another is under investigation, both suspected of abusing their authority for illegal profits. The industry’s emphasis on internal compliance has once again been heightened.

In the early hours, the Federal Reserve cut interest rates by 25 basis points as scheduled and restarted its short-term Treasury bond purchase program. Simply put: Fed buying bonds = central bank easing liquidity = increased market funds supply = liquidity expansion. For the crypto market, loose liquidity often means risk assets may open a new allocation window, but the specific trend still depends on actual capital flows.