【Crypto World】The race for AI regulation in the US is becoming increasingly intense. New York State has just become the first in the US to establish clear regulations on AI-generated content in the advertising sector.
The two new laws signed by Governor Hochul require advertisers to "clearly disclose" when they use AI to synthesize actors, and prohibit the unlicensed use of digital likenesses of deceased performers. This reflects a real issue: as AI synthesis technology becomes more realistic, protecting the rights of consumers and public figures is becoming urgent.
Interestingly, this proactive state-level regulation contrasts with voices at the federal level. The recent executive order signed by Trump threatens to cut federal funding to states implementing "stringent" AI regulations—clearly targeting proactive states like New York. A clear policy divergence is emerging between relaxed and strict regulation approaches.
For the AI industry, digital assets sector, and beyond

【CryptoWorld】On December 12th, a certain global digital asset trading platform announced a significant development: it has officially received the No Objection Certificate from the Pakistan Virtual Assets Regulatory Authority (PVARA). This means the platform has formally initiated the application process for a compliant exchange license in accordance with the framework of the "2025 Virtual Assets Regulations."
This certification was not easy to obtain. The significance of receiving the No Objection Certificate is that the platform has become one of the first global digital asset platforms to meet the criteria for applying for a virtual asset license in Pakistan. According to the relevant regulatory framework, the platform will continue to advance its compliance and licensing procedures, working closely with PVARA to complete the final comprehensive authorization.
The next step is to complete registration for anti-money laundering (AML) services with the Financial Monitoring Unit (FMU). This registration covers a wide range of services—including virtual asset exchanges, brokerage trading, custody, and derivatives services. Completion

【ChainNews】Leading stablecoin issuer Tether is preparing for a major financing round — with a scale of up to $20 billion. According to industry rumors, the core consideration for Tether's management is not just raising capital itself, but how to optimize asset liquidity through more flexible methods while expanding the capital base.
Buyback mechanisms and equity tokenization have become two key pathways Tether is exploring. The former can directly enhance the company's capital structure flexibility, while the latter represents equity in blockchain form, potentially opening new possibilities for subsequent liquidity arrangements.
However, Tether's management has a clear stance on this round of financing: existing shareholders who plan to transfer shares at a discount will generally not be included in this round. The logic behind this is straightforward — any discounted transfer would lower the company's valuation, which is obviously not something Tether wants to see.
It is worth noting that Tether has already

【Blockchain Rhythm】Pyth Network recently announced a new initiative—the establishment of a PYTH Reserve Mechanism. This structure is quite interesting: the protocol's own earnings are directly used to buy back PYTH tokens, creating a closed loop.
How does it work specifically? The treasury of Pyth DAO allocates funds from protocol revenue, then each month uses these funds to buy back PYTH on the open market. The repurchased tokens become part of the PYTH reserve—essentially converting the real product value directly into token support.
The core goal of this design is to tightly link the actual adoption of the product and the network's token value. In other words, the more users Pyth has and the more the protocol earns, the more real income flows into buybacks, making the token more valuable. It's not just empty promises but backed by solid economic data. This feedback mechanism is relatively new for DeFi projects.

【CoinPurse】Have you heard? Major airline company Capital A has recently started talks with Standard Chartered Bank. What are these two giants working on? They are collaborating to develop a stablecoin pegged to the Malaysian Ringgit — this is being done within Malaysia’s regulatory sandbox framework.
What does this mean? In simple terms, traditional financial institutions are beginning to seriously embrace the crypto world. The development landscape of stablecoins is expanding again, from USD and EUR to local fiat currencies pegged tokens, and this trend is very clear. As a key market in Southeast Asia, the emergence of localized stablecoins could accelerate the maturity of the local Web3 ecosystem.
The cooperation under the regulatory sandbox framework also sends a signal: policy-level openness to financial innovation is heating up. This is a positive sign for the entire Southeast Asian crypto market.

【Chain News】On-chain security agencies have recently zeroed in on a ruthless individual—the folks behind the DOYR token.
How wild is this team? Three related wallet addresses, over 187 days, nearly 10,000 different MEME coins were issued, raking in over $1.2 million. The tactics are classic: issue tokens themselves, make initial purchases, then run after a wave. During the DOYR incident, they bought over 200 million tokens, then sold them off in batches, earning only $4,200. But with such volume, this guy managed to create 3,333 different tokens following this pattern, netting $350,000 from a single address.
Following the trail, two accomplices were also uncovered. The one starting with 0x096a issued 3,445 different tokens and earned $260,000, while the one starting with 0xc9A4 was even more ruthless, creating 2,744 tokens and earning $480,000. All the funds from these three groups eventually flowed into the consolidation address 0xe352, then transferred to a certain exchange for money laundering.
Looking at the top ten tokens by their profit rankings, they are all sorts of nonsense—$高手

Former Morgan Stanley trader Jeff Park pointed out that the Federal Reserve's reserve management-driven purchase program is essentially an improved version of quantitative easing, emphasizing the advantages of the current reserve system. He also believes that stablecoins are an urgent issue to address regarding currency quality, implying that cryptocurrencies remain important in resolving traditional financial conflicts.

【BitPush】Arkham data shows that in the past 10 hours, BlackRock has taken major actions—withdrew over $200 million worth of crypto assets from a major trading platform.
Specifically, its Bitcoin ETF (IBIT) withdrew approximately 2064.858 BTC, which is worth about $186 million at current prices. On the other hand, the Ethereum ETF (EHTA) also didn't stay idle, transferring out 6627 ETH, roughly valued at $21.03 million.
Combined, the total scale is $207 million. These operations involved directly withdrawing from the platform's Prime hot wallet, and the flow of funds is worth watching.

【Chain Wen】YouTube recently made an interesting move—the platform now allows creators to receive payments directly in PayPal's stablecoin.
May Zabaneh, who is responsible for the crypto business at PayPal, personally confirmed that this feature is now officially live, although it is currently only available to users in the United States. A spokesperson from Google also stated that YouTube has indeed added this payment method, allowing creators to receive platform revenue in PYUSD, a stablecoin.
In fact, PayPal has supported payment recipients in accepting PYUSD since early Q3 of this year. Seeing this opportunity, YouTube quickly added this option to creators' revenue settlements. For those earning money by creating content on the platform, there is now an additional withdrawal method.
Honestly, the fact that mainstream platforms are starting to accept stablecoin payments is itself quite noteworthy.

Jupiter's stablecoin JupUSD will be confirmed to launch next week at the Solana Breakpoint conference, marking a major breakthrough following the collaboration with Ethena. Jupiter plans to convert $750 million worth of USDC into JupUSD, demonstrating its liquidity support for the new token. The Solana ecosystem will have a new option added, and future market reactions are worth paying attention to.

【CoinPush】Another wrapped token is coming—Hex Trust is preparing to launch wXRP, locked 1:1 with XRP. The main goal is to help XRP step out of its own XRP Ledger ecosystem and team up with Ripple’s stablecoin RLUSD on mainstream chains like Ethereum and Solana as trading pairs.
In other words, it's creating a multi-chain passport for XRP. Initially, it will be available on Solana, Optimism, Ethereum, and HyperEVM, with plans to add more networks later. The initial locked-in amount is directly targeting $100 million, indicating thorough preparation.
Custody is handled by Hex

Blockstream Capital Partners announces the acquisition of hedge fund Corbiere Capital Management, aiming to integrate its equity strategy into the Bitcoin product line. Founder Rodriguez will serve as the Chief Investment Officer of the new entity, intending to combine traditional finance with crypto assets to attract more large-scale funds.

The CFTC issued a no-action letter to platforms like Polymarket, relaxing the requirements for swap transaction recordkeeping and binary options data reporting, provided certain conditions are met, such as sufficient collateral and data transparency. This sends a relatively friendly regulatory signal to prediction markets.

【BiTui】U.S. Secretary of Commerce Howard Lutnick lashed out again on a television program today, this time directly targeting Federal Reserve Chair Jerome Powell — he believes the current interest rate level is simply too high.
Lutnick bluntly stated that Powell's actions are too slow, possibly because he is afraid to make decisions. After all, this is an economy with a scale of $30 trillion, which requires decisive leadership. He emphasized that now is the time to take proactive measures rather than retreating, as if the economy is facing major problems. What is the actual situation? GDP just grew by 4%, and the outlook is very positive.
Even more interesting is that he made a bold prediction: during the current administration's term, economic growth could reach 6%. His simple remedy is — cut interest rates and lower energy costs, and the economy will naturally take off.
Behind this tough stance, it actually reflects the government's dissatisfaction with the direction of monetary policy. The level of interest rates directly affects the cost of capital,