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Trading in out-of-the-money (OTM) Bitcoin put options is on the rise, suggesting traders are positioning for long-term price volatility, according to Coindesk. The report highlights significant open interest on the Deribit exchange, with over $191 million tied to BTC put options with a $20,000 strike price expiring in June 2026. Other popular OTM puts with the same expiry include those with strike prices of $30,000, $40,000, $60,000, and $75,000. While such activity is often seen as a hedge against a sharp price decline, Coindesk noted that substantial demand also exists for call options with strike prices exceeding $200,000. This combination suggests that traders are betting on significant price swings in either direction rather than solely anticipating a market crash.

The number of Solana (SOL) validators has fallen by more than 68% since March 2023, dropping from 2,500 to approximately 800, Criptonoticias reported.

Cryptocurrency investment firm Paradigm has analyzed that trading volume on the prediction market platform Polymarket may be inflated due to a double-counting error. According to Cointelegraph, Paradigm researcher Storm explained that Polymarket's complex on-chain data structure has caused many analytics tools to adopt flawed accounting methods. The researcher stated that major dashboards such as DeFiLlama, Allium, and Blockworks are double-counting single transactions by summing them from the perspectives of both the maker (sell-side) and the taker (buy-side).

MetaMask has officially introduced perpetual futures trading to its mobile application. The feature, powered by Hyperliquid, allows users to open long or short positions on over 150 tokens, as well as select U.S. stocks and indices, with up to 40x leverage. The functionality is available directly within the mobile app, eliminating the need to connect to an external exchange.

AI infrastructure company Gensyn has announced the launch of Delphi, an on-chain marketplace for evaluating and investing in AI models. Users can view real-time benchmark results, such as Gensyn's mid-range general-purpose inference benchmark, to bet on competing open-source models. Delphi employs an LMSR-based on-chain automated market maker (AMM), allowing for instant entry and exit of positions without an order book. Participants are rewarded if their chosen model achieves a top performance ranking at the final settlement. Gensyn stated that Delphi provides an opportunity to invest directly in open-source models rather than closed AI companies, which will create a pure market signal that reflects technological advancements.

U.S. spot Ethereum ETFs saw a total net inflow of $35.49 million on Dec. 8, reversing a two-day trend of net outflows, according to data compiled by Trader T. BlackRock's ETHA led the inflows with $23.66 million, while Grayscale's Mini ETH attracted $11.83 million. The remaining ETFs recorded no net changes in flows.

U.S. spot Bitcoin ETFs recorded a total net outflow of $60.51 million on Dec. 8, reversing course after a single day of net inflows, according to data from Trader T. While BlackRock's IBIT saw a net inflow of $28.72 million, this was offset by outflows of $44.03 million from Grayscale's Mini BTC and $39.44 million from Fidelity's FBTC.

Binance has announced it will temporarily suspend deposits and withdrawals for Neutron (NTRN) at 2:00 p.m. UTC on Dec. 10 to support a network upgrade.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $63.27 million liquidated (51.99% longs) - ETH: $49.96 million liquidated (58.16% shorts) - ZEC: $14.6 million liquidated (83.66% shorts)

Singapore-based fintech firm MetaComp announced that it has raised $22 million in a pre-Series A seed round. The round saw participation from investors including Eastern Bell Capital, Noah, and Sky9 Capital. The company has not disclosed how it plans to use the funds.

Japanese fashion company ANAP has purchased an additional 54.5 BTC, according to BitcoinTreasuries.NET, which cited a company disclosure. ANAP now holds a total of 1,200.2 BTC. The company previously announced its intention to acquire over 1,000 BTC by August for long-term holding.

Crypto-focused financial services firm Galaxy Digital deposited 900 BTC, worth $81.59 million, to a new address, according to Lookonchain.

The Canada Revenue Agency (CRA) has determined that approximately 40% of cryptocurrency platform users are at high risk of underreporting or evading taxes, according to Wu Blockchain. The agency is currently investigating over 230 cases through a dedicated crypto program and has collected approximately 100 million Canadian dollars ($73 million) over the past three years. The CRA stated that legal gaps exist in identifying crypto taxpayers and has demanded that platforms like Dapper Labs disclose user information.

South Korean crypto exchange Bithumb announced that it will list Alora (ALLO) for Korean won trading at 8:00 a.m. UTC on Dec. 9.

Ethereum Layer 2 solution MegaETH announced it will release its mainnet beta, Frontier, to app developers next week. This will be followed by several weeks of support for app deployment and testing before the platform begins user onboarding.

South Korean crypto exchange Bithumb announced it will temporarily suspend deposits and withdrawals for ETH and all Ethereum network-based assets at 12:00 p.m. UTC today. The suspension is in support of an upcoming Ethereum network hard fork and will also apply to 18 Ethereum Layer 2 networks.

A conspirator involved in a social engineering scam that stole 4,100 BTC, valued at $371 million, has pleaded guilty, the U.S. Department of Justice announced. According to The Block, the group is accused of stealing the funds between October 2023 and May 2024 by operating a fraudulent online gaming platform in states including California and Connecticut.

Global credit rating agency Fitch Ratings has warned that U.S. banks with substantial cryptocurrency operations could face credit rating downgrades. According to a Fitch report cited by Cointelegraph, activities such as issuing stablecoins, tokenizing deposits, and utilizing blockchain technology can present opportunities for improved profitability. However, the agency noted that these ventures also increase risks related to a bank's reputation, liquidity, operations, and regulatory compliance. Consequently, Fitch stated that banks with large-scale crypto-related businesses may be subject to negative rating actions. The report also mentioned that major banks like JPMorgan, Bank of America, Citi, and Wells Fargo are involved in the crypto sector.

According to CoinNess market monitoring, BTC has fallen below $90,000. BTC is trading at $89,996.28 on the Binance USDT market.

Hong Kong-based crypto investment firm HashKey Holdings has opened its initial public offering (IPO) subscription period for investors from Dec. 9 to Dec. 12, the Hong Kong Economic Times (HKET) reported. The company aims to raise up to 1.67 billion Hong Kong dollars (approximately $200 million) and is scheduled to list on the Hong Kong Stock Exchange (HKEX) on Dec. 17.

Digital asset tax and accounting platform ZenLedger has announced its support for the Sui (SUI) network. The integration aims to simplify tax reporting and compliance for users, businesses, and developers in accordance with various national regulations. ZenLedger's system automatically aggregates and standardizes data from hundreds of exchanges, blockchains, wallets, and DeFi protocols, a service now extended to the Sui ecosystem.

Nasdaq-listed Bitmine, a company heavily invested in Ethereum, is carrying an unrealized loss of approximately $3.1 billion, according to an analysis by EmberCN. The firm currently holds 3,864,951 ETH, valued at $12.074 billion, with an average purchase price of $3,925.

South Korean crypto exchange Coinone has placed MASA on its delisting watchlist and will keep it there for about a month. The exchange cited several reasons for the decision, including evidence that follow-up measures from a past security incident have not been fully implemented, a lack of transparency and rationality in the project's procedures for making significant changes, and insufficient disclosure of important matters. Coinone stated that the watch period is intended to allow for verification of these issues and to prevent potential harm to users.

Binance leads the cryptocurrency exchange market, accounting for 35.4% of global Bitcoin trading volume, according to data from Unfolded. The exchange is followed by Crypto.com at 16.5%, Coinbase and Bybit each at 8.5%, KuCoin at 6.3%, and OKX at 5.9%.

Pro-cryptocurrency U.S. Senator Bernie Moreno has stated that negotiations on a comprehensive crypto regulation bill are facing significant hurdles with no clear progress. According to The Block, while the U.S. passed the GENIUS Act for stablecoin regulation last summer, broader discussions have stalled. The key sticking points include defining the jurisdictional boundaries between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), as well as provisions for consumer protection. Speaking at a Blockchain Association policy summit in Washington, D.C., Moreno emphasized that he would rather have no agreement than a bad one, adding that he is unwilling to include problematic provisions simply to pass a bill. Meanwhile, Republicans and Democrats are scheduled to meet on Dec. 9 to continue discussions on the matter.