加密城市 Crypto City

OpenAI is being sued by The New York Times, and the judge has ordered the submission of ChatGPT conversation records.

After the explosion of generative AI applications, multiple copyright lawsuits have emerged. How AI companies train data within the scope of fair use and what constitutes infringement have become focal points of concern for AI and the content industry.

Recently, the lawsuit between The New York Times and OpenAI has received a temporarily favorable ruling for the former. According to Reuters, Federal Magistrate Judge Ona T. Wang ordered OpenAI to submit approximately 20 million pieces of ChatGPT conversation records, processed under a strict protective framework, to The New York Times and other plaintiffs.

AI becomes an anti-fraud tool, Indian engineer counteracts the scam group

In New Delhi, India, an information engineer received a message claiming to be from a "former classmate turned high official," stating that his friend was about to be transferred and urgently needed to sell furniture and appliances at a low price. This type of "military transfer" scam is very common in the area, usually using fake identities, along with product photos and QR codes, to lure victims into making payments first. However, this engineer was not deceived; instead, he decided to use AI technology to counter the scammers, sparking heated discussions in the Indian community.

According to a post made by the individual under the username u/RailfanHS on Reddit, he used ChatGPT to generate a tracking website disguised as a payment page, enticing the scammers to click on it and grant access to the camera and location functions.

The Republican Party exposes the Biden administration for systematically stifling the cryptocurrency industry

Republican members of the House Financial Services Committee released a substantial 53-page investigative report last Monday (12/1), directly targeting the previous Biden administration, accusing it of attempting to systematically exclude the cryptocurrency industry from the U.S. financial system through a series of coordinated regulatory measures.

The report titled (Operation Choke Point 2.0: Biden's Debanking of Digital Assets) details how regulators have used vague rules, excessive discretion, and informal guidelines to force banks to cut off business ties with legitimate cryptocurrency companies.

Cryptocurrency exchange Binance has once again been embroiled in allegations of internal corruption. On December 7, Binance confirmed that an employee had issued tokens without authorization and published the token details through the official account for personal gain. This incident quickly ignited public opinion and prompted Binance to launch an investigation, announcing last night the suspension of the implicated employee and reporting to judicial authorities, while anonymous whistleblowers could share a total whistleblower reward of $100,000.

Binance employee corruption storm! Official: Emergency suspension and report to judicial authorities

The official account of Binance Futures stated that the internal audit department received a report on December 7, alleging that an employee used undisclosed token information and published posts containing token text and images through the @BinanceFutures official account less than a minute after the token was issued.

The little fox directly transforms into an 'event trading terminal', bringing prediction markets into the wallet.

Ethereum's largest wallet, MetaMask, announces the launch of 'MetaMask Prediction Markets', supported by the prediction market platform Polymarket, allowing users to place trades on real-world events directly in the wallet app.

The official emphasizes that this is the first solution to natively integrate prediction markets within self-custody wallets; users just need to update to the latest version of the MetaMask mobile app to browse various markets within the wallet interface.

According to MetaMask's explanation, prediction markets transform events that were previously just for 'spectating' in news or social media into tradable assets, covering everything from sports events and political elections to the cryptocurrency market and popular culture, such as 'Will the Lakers win the NBA Championship in 2026?' and 'Will the Bitcoin price close above $100,000 in a certain month?'. Each bet is supported by real money, and the market price reflects participants' collective expectations about future outcomes, described by MetaMask as an 'instant probability signal driven by collective intelligence.'

UBS's latest in-depth report released on the 5th believes that there are 'no signs of cooling' in the global data center equipment market.

According to the latest monitoring data from UBS Evidence Lab, the global data center capacity is in a phase of rapid expansion, with current construction capacity reaching 25GW and existing operational capacity around 105GW. Analyst Andre Kukhnin's team noted in the report that considering the conversion of ongoing projects to actual capacity, as well as the continued high capital expenditures of hyperscale cloud vendors, the industry is expected to achieve growth of about 25-30% by 2025, with strong momentum continuing into 2026.

Bitcoin enterprise-level investor Strategy (formerly MicroStrategy) has made another significant move. According to an 8-K filing submitted to the U.S. Securities and Exchange Commission (SEC) on Monday, Strategy invested 960 million USD to purchase 10,624 Bitcoins from December 1 to 7, at an average price of approximately 90,615 USD.

This latest purchase has increased Strategy's Bitcoin holdings to 660,624 coins, valued at approximately 60 billion USD, with a total investment cost of about 49.4 billion USD (including fees and related costs), and an average acquisition cost of 74,696 USD per Bitcoin.

OCC issued a significant interpretive letter, allowing banks to act as 'riskless intermediaries' for crypto assets.

The Office of the Comptroller of the Currency (OCC) officially released Interpretive Letter 1188 on Tuesday, opening a crucial door for national banks to enter the cryptocurrency market.

This document clearly states that national banks can participate in 'riskless principal' transactions involving crypto assets, meaning banks are allowed to act as intermediaries for customers buying and selling cryptocurrencies without bearing the risk of asset price fluctuations.

The central bank is evaluating the lifting of the ban, with reports suggesting it could be implemented as early as 2026.

The Central Bank of Argentina (BCRA) is drafting significant adjustments to its regulatory direction regarding cryptocurrencies, considering allowing domestic banks to provide crypto trading and custody services, symbolizing a major policy reversal for the country since it completely banned banks from engaging in digital assets in 2022. According to local media (La Nación), the relevant draft is expected to be completed by April 2026.

If the regulations are officially finalized, banks could directly integrate crypto trading into existing accounts and apps, allowing the public to buy and sell Bitcoin and designated cryptocurrencies within a familiar interface. The new system requires banks to place crypto operations under an independent legal structure, adopting higher capital, risk management, information security, and liquidity standards, while also fully complying with KYC and AML regulations, consistent with the requirements set by the Argentine Securities Commission (CNV).

Bank of America (BoA) CEO Brian Moynihan, Citigroup CEO Jane Fraser, and Wells Fargo CEO Charlie Scharf are expected to meet with several bipartisan senators this Thursday (12/11). This discussion is organized by the Financial Services Forum, a large bank alliance, and mainly focuses on issues related to stablecoin interest payments, the competitive position of banks in the cryptocurrency market, and how to prevent crypto assets from being used for illegal activities.

Several bank executives will meet with senators to focus on stablecoins and illegal uses

Major Regulatory Turning Point: Ondo Finance Obtains 'No Action' Gold Medal

The leader in the tokenization of real-world assets (RWA), Ondo Finance, reached a critical moment in its development history on Monday (12/8). The company officially announced that the U.S. Securities and Exchange Commission (SEC) has concluded its multi-year confidential investigation and has not recommended any charges or enforcement actions. This news not only stimulated the price of its native token $ONDO to rise nearly 6% within 24 hours but is also seen as a significant signal of the shift in attitude of U.S. regulatory agencies towards tokenized securities.

The early ZK Rollup contributor is exiting, with the official confirmation of closure plans next year.

The Ethereum scaling solution zkSync team announced that it will officially shut down its earliest zero-knowledge Rollup network 'zkSync Lite' in 2026. This network, which went live in 2020, was one of the first payment-type Layer2 solutions to use validity proofs on Ethereum and is regarded as an important testing ground for zero-knowledge technology.

Image source: X/@zksync The zkSync team announced that it will officially shut down its earliest zero-knowledge Rollup network 'zkSync Lite' in 2026.

The official statement indicates that this is a planned exit and will not affect subsequent products such as zkSync Era or ZK Stack. Lite will continue to operate normally, and assets can still be retrieved from Layer2 to the Ethereum mainnet. The complete migration timeline will be announced next year.

Aevo co-founder Zefram recently published a lengthy article, believing that he has spent 8 years building a façade of innovation in a 24/7 casino, which has sparked widespread response. Dragonfly partner Haseeb Qureshi and Bitwise CEO Hunter Horsley also subsequently responded. Reevaluating the true crisis of the cryptocurrency industry from vision to social impact, the culture of speculation continues to erode the mission of cryptocurrencies.

Idealism has been worn away: Aevo founder admits 'spending 8 years building a casino, not the future of finance'

Aevo co-founder Zefram's lengthy article recalls how he was inspired by the spirit of libertarianism and Cypherpunk during his youth, firmly believing that cryptocurrencies could reshape the financial order and return power to individuals. However, after truly engaging in the industry, he was met not with a free revolution, but with a reality dominated by speculation, which greatly impacted him.

Multiple customers have accused JPMorgan Chase of closing accounts, becoming embroiled in a storm of 'politically motivated account closures'.

Several companies and individuals have accused JPMorgan Chase of closing accounts without warning in recent weeks, raising questions about whether the bank is treating customers differently based on political views. Trump Media CEO and former Congressman Devin Nunes pointed out that his own company's account was closed by JPMorgan Chase, and this situation is not an isolated case. He claims that over 400 individuals and organizations connected to Trump had their banking information extensively subpoenaed by special prosecutor Jack Smith during a judicial investigation.

Jack Mallers, CEO of the crypto payment platform Strike, also stated last month that his personal account at JPMorgan Chase was closed without reasonable explanation, reigniting market concerns about 'Chokepoint 2.0'. Additionally, the marketing director of the non-custodial trading platform ShapeShift shared a similar experience, claiming that the bank's actions have created a chilling effect.

In recent years, Figure has become one of the most attention-grabbing startups in the fintech sector. This capital market technology company, founded by a team with deep financial and technological backgrounds, is dedicated to reshaping the infrastructure of traditional financial markets with blockchain. Figure's core technology revolves around on-chain asset management, allowing real-world assets like mortgages to flow at lower costs and faster speeds through standardized, immutable data structures, attracting institutional investors.

Since its establishment, the company has put nearly 18 billion US dollars worth of assets on the blockchain, achieving a dominant market share in private credit and mortgage lending, and has received the highest AAA ratings from S&P and Moody's. In September 2025, Figure successfully went public, becoming one of the most representative blockchain companies in the US capital markets.

The world's largest asset management giant enters the staking arena, and ETHB has officially submitted its application.

Global asset management leader BlackRock is advancing its cryptocurrency strategy once again, submitting an application to the SEC to launch a staking Ethereum ETF named 'iShares Staked Ethereum Trust (ETHB)'. This fund will become one of the first crypto index products on the market to incorporate staking yields, indicating that Wall Street institutions are not only focused on the spot price of Ethereum ($ETH) but are also beginning to turn their attention to the yield layer of the Ethereum ecosystem.

According to the application documents, ETHB will track the price of Ethereum while staking 70% to 90% of its holdings within regulatory limits, reflecting the returns in the fund's net asset value. Coinbase Custody and Anchorage Digital will serve as the primary and backup custodians, respectively. BlackRock emphasizes that it will not operate validators itself but will adopt a 'passive staking' approach, adjusting the staking ratio when the network faces security risks or liquidity pressures.

Significant Regulatory Shift and Launch of Pilot Program in the United States

The U.S. Commodity Futures Trading Commission (CFTC) officially announced on Monday (12/8) the launch of a groundbreaking 'Digital Asset Pilot Program', which will allow specific digital assets to be used as collateral in the regulated U.S. derivatives market.

This program is led by CFTC Acting Chair Caroline Pham and symbolizes a significant shift in the U.S. regulatory approach to tokenized asset policies. According to the announcement, the first assets approved for inclusion in the pilot include Bitcoin ($BTC), Ethereum ($ETH), and the U.S. dollar stablecoin $USDC. This move aims to integrate digital asset activities into the regulated U.S. market system, reducing reliance on overseas trading platforms while providing investors with a safer trading environment.

Expectations for a rate cut are soaring, Bitcoin is climbing towards the $94,000 range

The cryptocurrency market is迎來 a critical moment this week, as the Federal Reserve will announce its interest rate decision this Wednesday. The market bets that there will be another rate cut of 25 basis points, with CME FedWatch data showing the probability of a rate cut as high as 87.3%.

Source: CME FedWatch, the probability of a Federal Reserve rate cut is as high as 87.3%

Driven by this, Bitcoin ($BTC) rose above $92,000 during the Asian session on Monday, approaching last week's high of $94,200. Analysts believe that if Bitcoin can effectively break through the $94,000 resistance area, it is likely to challenge higher resistance levels of $101,000 and $104,000, but this is contingent on the FOMC guidance not leaning hawkish after the meeting.

Saylor opposes the introduction of strong privacy features in Bitcoin, worried it could lead to a total ban by the state.

Should Bitcoin strengthen its privacy? It has once again become a focal point in the industry. Zcash co-founder Eli Ben-Sasson recently released a conversation with Strategy co-founder Michael Saylor, in which Saylor expressed opposition to Bitcoin adopting strong privacy technologies similar to Zcash. He believes that if Bitcoin transactions become difficult to trace, it could be seen as a threat by governments, leading to restrictive measures and potentially resulting in a ban on Bitcoin.

Source: X/@EliBenSasson Zcash co-founder Eli Ben-Sasson recently released a conversation with Strategy co-founder Michael Saylor.

Although the recent drop in Bitcoin has been alarming, K33 Research analyst Vetle Lunde suggests that December may actually become a turning point for the cryptocurrency market. Following the most severe correction since the last bear market, K33 believes that current signs indicate that the chance of a 'bottom rebound' is much higher than a further collapse.

Bitcoin has recently faced significant selling pressure, primarily due to structural factors. K33 points out that the Bitcoin spot ETF, which has been the main driver of market gains, has turned into a 'net seller' as of November; meanwhile, the trading activity of futures at the Chicago Mercantile Exchange (CME) has also dropped to a multi-year low, indicating a wait-and-see attitude from traditional finance (TradFi) capital. In terms of price performance, Bitcoin has recently significantly underperformed U.S. stocks, with its relative strength against the Nasdaq index having fallen to its weakest level since the end of 2024.