26m faUniswap Founder Says Citadel CEO Lobbying SEC to Regulate DeFi Developers as IntermediariesHayden Adams, founder of Uniswap, said on Dec. 4 that Citadel Securities CEO Ken Griffin is pushing the U.S. SEC to regulate DeFi protocol developers as centralized intermediaries. Adams said Citadel has been lobbying behind the scenes and criticized the firm's claims that DeFi lacks "fair access" as contradictory. The comments highlight tensions between traditional market makers and open-source decentralized liquidity mechanisms.2h faSEC Suspends ETF Applications Exceeding 200% Leverage LimitThe U.S. Securities and Exchange Commission has suspended applications for exchange-traded funds with leverage exceeding 200%, sending warning letters to multiple providers, Cointelegraph reported on Dec. 4. ETF issuers Direxion, ProShares, and Tidal received letters citing provisions under the Investment Company Act of 1940, which caps investment funds' risk exposure at no more than 200% of the value-at-risk of their unleveraged reference portfolio or benchmark indices.3h faU.S. November ADP Employment Falls 32,000, Missing Forecast; Fed December Rate Cut Probability Declines to 88.8%U.S. November ADP employment fell by 32,000, missing the forecast of 10,000 additions, ADP data released on December 4 show. Following the release, the probability of a 25-basis-point Fed rate cut in December declined slightly to 88.8%. Sources familiar with the matter indicated Trump advisors are discussing a personnel arrangement in which Kevin Hassett could be nominated as the next Fed Chair, while current Treasury Secretary Scott Bessent may simultaneously serve as White House National Economic Council Director. SEC Chair Paul Atkins stated the Crypto Market Structure Act is nearing passage, Polymarket officially returned to the U.S. market with the launch of its U.S. version app, and Franklin's Solana spot ETF began trading.5h faFlorida Court Allows Fraud Victim to Refile $80M Bitcoin Theft Lawsuit Against BinanceA Florida appellate court ruled Wednesday that a fraud victim may refile a lawsuit against Binance Holdings Inc. in state court over alleged involvement in an $80 million bitcoin theft, Bloomberg reports. The Florida Third District Court of Appeal found that the trial court erred in determining it lacked personal jurisdiction over Binance. The case alleges the crypto exchange failed to maintain a freeze on stolen funds.
12h faSEC Chair Paul Atkins Says Crypto Market Structure Bill Nearing PassageU.S. Securities and Exchange Commission Chair Paul Atkins said on Dec. 3 the Crypto Market Structure Bill is approaching approval, BlockBeats reports. The legislation would provide regulatory clarity for the cryptocurrency industry if enacted.14h faU.S. Treasury Secretary Says Trump Set 15%-20% Tariffs as StandardU.S. Treasury Secretary Scott Bessent said on Dec. 3 that President Trump established tariffs of 15% to 20% as the standard norm, BlockBeats reports. The statement reflects the administration's trade policy framework.14h faFed December Rate Cut Odds Slip to 88.8% After ADP Jobs DataThe probability of a 25 basis point Federal Reserve rate cut in December fell to 88.8% following the December 3 ADP employment report, down from 89.2% before the release, CME FedWatch Tool data show. The odds of rates holding steady stood at 11.2%. For the January meeting, the likelihood of no change was 29.5%, while probabilities for a cumulative 25 basis point cut and 50 basis point cut were 63% and 7.8%, respectively. The Fed's next FOMC meetings are scheduled for December 10 and January 28, 2026.15h faFed December Rate Cut Probability at 89.2% Before ADP DataThe probability of a 25 basis point Federal Reserve rate cut in December stood at 89.2% before the Dec. 3 ADP employment data release, with a 10.8% chance of rates remaining unchanged, CME FedWatch data show. For the cumulative outlook through January 2025, the tool showed a 66.6% probability of a 25 basis point reduction, a 25.7% probability of a 50 basis point cut, and a 7.7% chance of no change.16h faUK Police Recovered 60,000 BTC in Qian Zhimin Case Using Laptop Password and Seed PhrasesUK authorities seized approximately 60,000 BTC linked to money laundering suspect Qian Zhimin by accessing encrypted wallets on his laptop, Caijing Magazine reported on Dec. 3. Police confiscated phones, computers, and USB drives during multiple searches, with one USB containing photographs of notebook pages that appeared removed before seizure. The photographed pages documented the black laptop's boot password and multiple seed phrases, including patterns such as "number + love" along with numerical hints, which enabled the cryptocurrency recovery.17h faCayman Islands Web3 Foundation Registrations Jump 70% Before 2026 OECD CARF Takes EffectFoundation company registrations in the Cayman Islands rose 70% year-over-year, surpassing 1,300 by end-2024 and adding over 400 in the first five months of 2025, Cointelegraph reports. Cayman foundations have become the primary legal structure for DAOs to hold treasuries, manage IP, and handle compliance, with at least 17 foundations holding treasuries exceeding $100 million. The OECD CARF reporting framework takes effect in 2026 and will standardize automatic information exchange to address tax avoidance in crypto transactions. The Cayman Islands will require crypto service providers engaged in trading and custody to conduct due diligence and reporting, though protocol treasuries and passive foundations holding assets are expected to fall outside mandatory disclosure requirements.
