Huoxun Finance reported on December 9th that Changpeng Zhao responded to Binance's previous report regarding an internal employee abusing their position for personal gain, stating: "Although I no longer manage Binance, I will handle any reports of employee misconduct submitted via private message or comments appropriately. I have heard that the aforementioned case has been filed with the police. Binance maintains close cooperation with law enforcement agencies in various countries (primarily assisting them), and those who violate the law have nowhere to hide."

According to a report by Cointelegraph on December 9th, Strategy CEO Phong Le stated that the company will hold Bitcoin until at least 2065, maintaining its long-term accumulation strategy, as MSTR shares continue to serve as an important alternative to BTC despite the rise of spot ETFs.

Huoxun Finance reported on December 9th that, according to Cointelegraph, Strategy founder and executive chairman Michael Saylor is pushing governments to develop Bitcoin-backed digital banking systems that offer high-yield, low-volatility accounts capable of attracting trillions of dollars in deposits. Speaking at the BitcoinMENA event in Abu Dhabi, Saylor stated that countries could use over-collateralized Bitcoin reserves and tokenized credit instruments to create regulated digital bank accounts with higher yields than traditional deposits. Saylor pointed out that bank deposits in Japan, Europe, and Switzerland offer almost no returns, while euro money market funds yield around 150 basis points, and US money market rates are close to 400 basis points, explaining why investors are turning to corporate bonds. Saylor outlined a structure where digital credit instruments comprise about 80% of the fund, paired with 20% fiat currency, and a 10% reserve buffer to reduce volatility. If this product were offered through regulated banks, depositors could deposit billions of dollars into institutions for higher returns. He stated that the account would be backed by 5:1 over-collateralized digital credit held by a fiscal entity. Saylor stated that countries offering such accounts could attract “$20 trillion or $50 trillion” in capital inflows.

Terraform Labs co-founder Do Kwon will be sentenced in New York this Thursday after pleading guilty to two felony charges (wire fraud and conspiracy to commit fraud). Prior to sentencing, U.S. Federal Judge Paul Engelmayer requested that both the prosecution and defense clarify the charges Kwon will face in South Korea and his "maximum and minimum sentence" to assess the risks of his involvement in multiple jurisdictions. Court documents show that the judge wanted to know whether South Korea might release Kwon early if he is extradited after serving his U.S. sentence, and how his time in South Korea would be calculated. Kwon's lawyers stated that if he is extradited to South Korea, he will re-enter pretrial detention and, if convicted, could face up to 40 years in prison. The documents also indicate that the judge asked both sides whether they agreed not to count the four months Kwon served in Montenegro towards his U.S. sentence to avoid double counting across jurisdictions. Kwon was detained in Montenegro for using forged travel documents and has been contesting multiple extradition requests there for over a year. U.S. prosecutors are seeking at least 12 years in prison, arguing that the damage caused "exceeds the combined total of SBF, Mashinsky, and OneCoin's head, Greenwood." The defense has recommended a sentence of no more than five years. Do Kwon disappeared after the Terra crash in 2022 and was arrested in Montenegro in 2023. He has been charged in both South Korea and the United States, and is expected to face further detention and trial in South Korea after serving his sentence in the U.S. A judge will issue a preliminary sentencing decision on Thursday, but the cross-jurisdictional nature of the case means it will likely continue for years to come. (Finance Feeds)

According to Odaily Planet Daily, crypto analyst Ai Yi (@ai_9684xtpa) monitored that the "1011 Insider Whale" reduced its holdings by 4,513 ETH nine hours ago, with a trading volume of approximately $14.06 million, realizing a profit of approximately $304,000. This whale currently still holds 50,001 ETH long positions, with a total value of approximately $156 million at the market price. The opening price was $3,048.56, resulting in a floating profit of approximately $3.96 million.