Sean Farrell, Head of Cryptocurrency Strategy at Fundstrat, a fund managed by Tom Lee, responded to questions about a potential divergence between his market views and those of Tom Lee in a post on the X platform. He stated that his more cautious view in the first half of the year reflected risk management, not a complete bearish outlook. Current market pricing is almost perfect, but risks remain, including government shutdowns, trade volatility, uncertainty surrounding AI capital expenditures, and a change in the Federal Reserve chairman. Meanwhile, high-yield bond spreads are tightening, and cross-asset volatility is low. Recent fund flows have also diverged. Bitcoin is currently in uncharted territory in terms of valuation. In the long term, ETF demand should improve as large brokerages join the fray, but in the near term, it faces pressure from early holders selling, miner pressure, the potential removal of MSTR from the MSCI index, and fund redemptions. Fundstrat employs multiple analysts, each with independent research frameworks and different investment timeframes, aiming to meet the diverse investment objectives of its clients. My research primarily focuses on portfolios with a high proportion of crypto assets and employs a relatively more aggressive market operation strategy. Tom Lee's research primarily serves large asset management firms and investors who allocate 1%–5% of their assets to BTC and ETH. Such strategies require a high degree of self-discipline and a long-term perspective to grasp structural (long-term) trends in order to achieve excess returns over time. My goal is to help clients and subscribers with a high proportion of crypto assets (approximately 20% or more) consistently outperform the market across different cycles through proactive rebalancing. My current baseline assessment is that there may be a rebound at the beginning of the year, followed by a possible pullback in the first half of the year, providing a more attractive opportunity for year-end positioning. If my assessment is incorrect, I prefer to wait for confirmation signals. For investors following this outlook, I still expect Bitcoin and Ethereum to challenge new all-time highs before the end of the year, thus ending the traditional four-year cycle with a shorter and smaller bear market.

This case begins with a criminal judgment from a Shanghai court, concerning the practice in the traditional gaming industry where employees abused their privileges to modify backend data and resell in-game currency for profit. Although in-game currency and cryptocurrency are not the same thing...

In January 2025, when news broke that the Phemex exchange had lost $69 million due to a vulnerability, few realized that this was just the prelude to a systemic collapse.

The biggest problem of Shiba Inu on the market right now is its size, to be honest. source: https://u.today/81500000000000-shib-reason-why-shiba-inu-cannot-rally

Zcash founder Zooko Wilcox has riled up Bitcoiners by claiming that he is bearish on the leading cryptocurrency. source: https://u.today/zcash-founder-reveals-biggest-reason-why-hes-bearish-on-bitcoin

According to Arkham's monitoring, a newly created wallet withdrew 104,503 LINK tokens from Binance half an hour ago, worth $1.32 million. Recently, large whales are suspected of accumulating LINK; another large whale, 0xf44, has withdrawn approximately 630,000 LINK tokens from Binance in the last two days, worth nearly $8 million.

On Dec 21, 2025, 09:56 AM(UTC). According to Binance Market Data, Bitcoin has crossed the 89,000 USDT benchmark and is now trading at 89,038.367188 USDT, with a narrowed 0.88% increase in 24 hours.

Samsung has announced plans to unveil a new refrigerator powered by Google’s artificial intelligence Gemini. source: https://www.cryptopolitan.com/samsung-new-refrigerator-googles-gemini-ai/

Ethereum Foundation establishes three security milestones through 2026 for zero-knowledge EVMs, mandating 128-bit provable security as performance gains revealed critical vulnerabilities in existing proof systems. source: https://cryptonews.com/news/ethereum-shifts-focus-from-speed-to-security-with-new-2026-deadline/

Two bipartisan US House lawmakers have released a discussion draft that would carve out a limited tax safe harbor for stablecoin payments. source: https://cryptonews.com/news/us-house-draft-proposes-tax-safe-harbor-for-some-stablecoin-transactions/

BTC, altcoins, currency, AA Master BTC 3rd Edition In-depth Reading 03 Golden Finance, all other currencies besides Bitcoin are altcoins.

On Dec 21, 2025, 09:34 AM(UTC). According to Binance Market Data, Ethereum has crossed the 3,000 USDT benchmark and is now trading at 3,000.300049 USDT, with a narrowed 0.49% increase in 24 hours.

Hacker attack, private key, $50 million stolen – all because the address wasn't carefully checked. Golden Finance: High-end scams often only require the simplest methods.

Golden Weekly is a weekly blockchain industry summary column launched by Golden Finance, covering key news, mining information, project updates, technological advancements, and other industry dynamics.

This week, 24 blockchain startups secured funding, raising a total of $335.1 million. RedotPay raised $107 million in its Series B funding round, the largest funding round of the week.

主题包括Cryptomoney、TradFi、Chains、DeFi、AI、DePIN 以及消费级应用。

My career has witnessed the creation of three venture capital funds and one hedge fund from scratch.

Jinse Finance launches its daily cryptocurrency and blockchain news bulletin, "Jinse at 8 AM," issue 2915, providing you with the latest and fastest news on the digital currency and blockchain industry.

Arthur Hayes: Once the market realizes that Reserve Management Purchases (RMP) are essentially the same as Quantitative Easing (QE), BTC will quickly rebound to $124,000 and rapidly challenge $200,000.