Mars Morning News | The crypto market rebounds across the board, Bitcoin rises above $94,500; The "CLARITY Act" draft is expected to be released this week

The crypto market has fully rebounded, with Bitcoin rising above $94,500 and US crypto concept stocks closing higher across the board

Mars Finance reports that on December 10, according to market data, the crypto market has fully rebounded. Bitcoin surged above $94,500 this morning and is now quoted at $92,900 (UTC+8), up 2.48% in 24 hours. Ethereum once approached $3,400 and is now quoted at $3,332 (UTC+8), up 6.69% in 24 hours. The total crypto market capitalization has risen to $3.263 trillion, up 2.7% in 24 hours. Some altcoins led the gains, including: ZEN up 19.11% in 24 hours; LUNA up 18.22%; AXL up 17.88%; HYPER up 14.78%; WIF up 12.89%. In US stock market news, the three major indices closed mixed on Tuesday: the Dow Jones preliminarily closed down 0.37%, the S&P 500 fell 0.09%, and the Nasdaq rose 0.1%. US crypto concept stocks all rose, with Ethereum crypto treasury (DAT) companies leading the gains, including: Strategy (MSTR) up 2.89%; Circle (CRCL) up 5.93%; Coinbase (COIN) up 1.15%; MARA Holdings (MARA) up 1.66%; Riot Platforms (RIOT) up 3.68%; BitMine Immersion (BMNR) up 9.32%; SharpLink Gaming (SBET) up 4.88%.

The "CLARITY Act" draft is expected to be released this week, with a hearing and vote scheduled for next week

Mars Finance reports that on December 10, New York Democratic Senator Kirsten Gillibrand and Wyoming Republican Senator Cynthia Lummis introduced at the Blockchain Association Policy Summit in Washington, D.C., the direction the US Congress will take toward comprehensive regulation of the crypto industry. Cynthia Lummis stated that the goal is to release the draft of the "CLARITY Act" (Market Structure Act) by the end of this week, and to hold a hearing next week to amend and vote on the bill. Negotiations between Democrats and Republicans are ongoing, with the first bipartisan meeting held last week and progress described as very smooth. "Nothing is blocking this bill." The US Congress has been trying for years to push for broader crypto market structure legislation, but progress has been slow. This summer, the House passed its version of the Digital Asset Market Clarity Act (Clarity) in July, giving new momentum to legislation. The Senate has since begun advancing similar bills. The Senate Banking Committee already has a draft aimed at clarifying the regulatory authority between the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), and creating a new term "ancillary assets" to clarify which cryptocurrencies are not securities. Meanwhile, the Senate Agriculture Committee also released its draft last month, proposing to give the CFTC more new powers.

"1011 Insider Whale" holds $268 million in ETH long positions, currently with $16.8 million in unrealized profit

Mars Finance reports that on December 10, according to Hyperinsight monitoring, the "1011 Insider Whale" currently holds $268 million in ETH long positions, using 5x leverage, with an entry price of $3,108.49 and an unrealized profit of $16.8 million (UTC+8). This whale still has a $63 million limit long order at $3,280, planning to further increase their position.

CZ reposts photo wearing Trump limited edition Bitcoin sneakers

Mars Finance reports that on December 10, Binance founder CZ reposted a photo of himself wearing Trump limited edition Bitcoin sneakers "Bitcoin Sneakers" and commented that the shoes were a gift from a friend and he considers them an NFT as well. In the photo, CZ is wearing the special edition Bitcoin sneakers launched by Trump in 2024, featuring an orange-yellow high-top design with the Bitcoin symbol ₿. This series is limited to 1,000 pairs, originally priced at $499. After the pre-sale launched on July 31, 2024, they quickly sold out, and the current second-hand market price has doubled to between $700 and $2,500.

Musk says Department of Government Efficiency was "somewhat successful," and he will not participate in similar projects again

Mars Finance reports that Musk said in an interview with The Katie Miller Podcast that the government efficiency department DOGE (Department of Government Efficiency), which he once led, was "somewhat successful," but if given another choice, he would not participate in such government affairs again and would instead devote his time to his own companies.

Musk said the name DOGE came from online suggestions and that the department was essentially established to cut government spending. In the interview, he also discussed his brief experience in Washington, US immigration policy, AI, space exploration, and stated that the government should "do as little as possible."

Earlier this year, Musk left the government team after political controversy over government spending cuts and multiple Tesla stores being vandalized, later repairing his relationship with President Trump.

Coinbase reminds users to complete STG to ZRO migration themselves

Mars Finance reports that Coinbase Markets has issued a reminder that Stargate Finance (STG) has completed migration to LayerZero (ZRO), and Coinbase will not perform the asset conversion on behalf of customers.

The platform stated that if users wish to convert their STG holdings to ZRO, they must do so themselves via a compatible self-custody wallet. Currently, no deadline has been set for the conversion.

SpaceX plans IPO at a $1.5 trillion valuation

Mars Finance reports that SpaceX expects an IPO valuation of about $1.5 trillion, raising far more than $30 billion. SpaceX plans to go public in the second half of 2026, depending on market conditions.

SpaceX expects sales of about $15 billion in 2025 (UTC+8), and sales of about $22 billion to $24 billion in 2026 (UTC+8). SpaceX's IPO is expected to become the largest IPO in history.

Strive launches $500 million SATA stock ATM financing plan, part of net proceeds to be used for Bitcoin purchases

Mars Finance reports, according to Globenewswire, that Bitcoin asset reserve company Strive (NASDAQ: ASST; SATA) announced it has signed a sales agreement. Under this agreement, Strive may issue and sell its Series A variable rate perpetual preferred stock, par value $0.001 per share ("SATA stock"), with a total issuance price of up to $500 million ("ATM plan"). Strive intends to use the net proceeds from the ATM plan for general corporate purposes, including but not limited to: purchasing Bitcoin and Bitcoin-related products, working capital, acquiring income-generating assets to expand the company's business, other capital expenditures, repurchasing the company's Class A common stock, and/or repaying debt. Strive may also use these proceeds to fund acquisitions of businesses, assets, or technologies that are complementary to its current business.

Cosine: Zcash does not enforce privacy by default, balanced design is more understood by regulators

Mars Finance reports that on December 10, SlowMist founder Cosine commented on "Arkham's de-anonymization of more than half of Zcash (ZEC) transactions," saying that a high proportion of Zcash transactions being traceable is nothing new. During the previous privacy coin boom, Zcash was already like this. It does not enforce privacy by default; users can choose, for example, addresses starting with z are strongly private, while those starting with t are transparent and traceable. This design makes Zcash more understandable to regulators compared to privacy coins like Monero (XMR), which enforce strong privacy by default. Currently, most mainstream platforms use Zcash addresses starting with t, indicating that the group truly concerned about privacy is very small, and catering to regulation is the way forward for platforms. Compared to the hardcore Monero, Zcash's privacy design is more balanced and may have a broader path ahead.

Data: As ETH rose overnight, Huang Licheng's ETH long position is back to $1.35 million in unrealized profit

Mars Finance reports, according to on-chain analyst Yujin, that as ETH rose overnight, Machi (Huang Licheng)'s ETH long position now has $1.35 million in unrealized profit (UTC+8), after having its profits liquidated a few days ago.

This time, he rolled over his position and went long, experiencing two rollercoaster rides: on the 2nd, he started rolling over and going long ETH at $2,840 (UTC+8), and on the 4th, he had a profit of $2.84 million (UTC+8). A small pullback on the 6th wiped out all the profits and resulted in liquidation. Today's ETH rebound has brought his position back to $1.35 million in unrealized profit (UTC+8).

Musk: Grok 4.20 to be released in about three weeks, Grok 5 to be released in a few months

Mars Finance reports that on December 10, Musk posted that Grok 4.20 will be released in about three weeks, and Grok 5 will be released in a few months. Grok 4.20 is a major update to xAI's fourth-generation Grok AI model, which debuted as a "mystery model" on testing platforms such as Alpha Arena, performing well in stock trading simulations with an average return of 12.11% (up to 47%), and showing significant improvements in real-time data analysis, financial reasoning, and complex problem-solving. Grok 5 is xAI's next-generation flagship AI model, aiming for a breakthrough at the AGI (artificial general intelligence) level, with a parameter size of 6 trillion (twice that of Grok 4). Musk estimates its probability of achieving AGI at 10% and rising, and the model will have "instant learning" capabilities, able to quickly adapt to new tasks through dynamic reinforcement learning.

Trump to begin final round of interviews for Fed chair candidates this week, says he "already has the right person in mind"

Mars Finance reports that on December 10, according to Bloomberg, US President Trump said he will begin the final round of interviews for the next Fed chair candidates this week, considering several candidates. On Tuesday, Trump told the media aboard Air Force One, "We will consider several different candidates, but I already know very clearly who I want." White House National Economic Council Director Kevin Hassett remains the top candidate to succeed Powell as Fed chair, but his win is not guaranteed. Trump recently said he would soon select a new Fed chair but may wait until early 2026 to announce it publicly. Trump and US Treasury Secretary Bessent will meet with former Fed governor Kevin Warsh on Wednesday, and the two are expected to have at least one interview next week.

Coinbase to list Hyperlane (HYPER) spot trading

Mars Finance reports, according to an official announcement, that Coinbase will list Hyperlane (HYPER) spot trading. If liquidity conditions are met, the HYPER-USD trading pair will begin trading at or after 01:00 (UTC+8) in supported regions. Hyperlane (HYPER) will be available on coinbase.com, the Coinbase app, and Coinbase Advanced. Institutional users can access Hyperlane (HYPER) directly through the Coinbase exchange.