Citadel Securities Targets DeFi

️ On today's Top Picks:

Crypto News

• ⭐️ Citadel Securities asks US SEC not to exempt DeFi protocols from being regulated as an “exchange” and “broker-dealer”; warns that exemptions create two separate regulatory regimes & undermine investor protections.

• US DOJ asks federal judge to sentence Terraform co-founder Do Kwon to 12 years in prison, the maximum sentence allowed under the plea deal signed in August; Do Kwon to be sentenced on December 11th.

• US CFTC announces that listed spot crypto products to begin trading on federally regulated markets on CFTC-registered futures exchanges; Bitnomial to be the first to list regulator-approved spot crypto products on December 8th.

• Indiana lawmakers propose allowing public investment funds in the state to purchase Bitcoin $BTC ETFs; Texas recently bought $5M of BlackRock's Bitcoin ETF (IBIT).

• Aave $AAVE partners with CoW $COW Swap; now powers collateral swaps, repay-with-collateral, & debt swapping; already powers Aave's swap widget since September.

• Kraken partners with Deutsche Börse Group to bridge traditional & digital markets; Kraken to integrate directly with 360T as part of the first phase of the partnership.

Alpha

• Base $BASE launches Base-Solana $SOL bridge; move assets across both ecosystems; powered by Chainlink $LINK CCIP.

• ⭐️ Lighter $LIGHTER launches spot on mainnet; to enable spot trading later this week; to also roll out additional markets.

• Abstract $ABS to launch new Flash Badge; users who mint all three days of In The Moment campaign to be eligible.

• Fogo $FOGO Fishing launches on Fogo mainnet; earn FISH tokens & Fogo Flames (points) by playing; teases "Fogo is opening the mainnet door, just a little, to allow for a taste of real speed before [REDACTED]."

• N1 to launch mainnet in the coming days; 01 to be the first application to go live with points program.

• MetaMask $MASK launches prediction markets powered by Polymarket; earn MetaMask Rewards points for every trade.

• ICYMI Polymarket $POLY begins rolling out US app access to users on the waitlist; initially launching with sports only, with markets on everything coming soon.

• ICYMI Stable $STABLE to launch mainnet & TGE on December 8th; tokenomics: Genesis Distribution 10%, Ecosystem & Community 40%, Team 25%, & Investors & Advisors 25%.

Airdrops

• Kraken teases "Get exclusive airdrops with Kraken+" on X; Kraken Drops webpage notes "Airdrops may occasionally have additional criteria for eligibility..."

• ⭐️ Rainbow $RNBW to announce update regarding TGE early next week; also announces the Rainbow Foundation will hold 20% of the company's equity, so RNBW token holders to receive proceeds if Rainbow is acquired.

• Seeker $SKR (Solana Mobile) to launch TGE & airdrop in January 2026; 30% of SKR token supply is allocated for Airdrops.

• OpenGDP $GDP (previously Karak) unveils GDP token; to potentially launch mainnet, TGE, & airdrop soon.

• Kyo $KYO launches airdrop eligibility checker; Kyo & Soneium users are potentially eligible.

• ICYMI Superform $UP launches airdrop registration; Season 1 XP holders, Season 2 CRED holders, Season 3 Points holders, & more are eligible.

• ICYMI Espresso $ESP to launch airdrop registration on December 22nd; ~22 of 30+ paths to airdrop eligibility have so far been revealed.

Finance News

• ⭐️ US September PCE inflation rises to 2.8%, in-line with expectations of 2.8%; Core PCE inflation falls to 2.8%, below expectations of 2.9%.

• Central Banks ramp up Gold $XAU purchases; purchased +53 tonnes of Gold in October, the most since November 2024.

• Galaxy $GLXY acquires Alluvial, the development company of Liquid Collective, for an undisclosed amount; Galaxy to expand Liquid Collective across new assets & protocols.

• American Bitcoin $ABTC buys an additional 363 Bitcoin $BTC (~$33M); now holds 4,367 BTC (~$402M).

• Solmate $SLMT to acquire RockawayX in all-stock deal; expected to close in H1 2026; Solmate bought ~$50M worth of Solana $SOL in October.

Security and Exploits

• Cloudflare $NET experiences outage for ~25 minutes; 28% of all HTTP traffic served by Cloudflare, including numerous crypto applications were impacted.

• ⭐️ HumidiFi $WET public sale swept by bot farm; one sniper used thousands of funded wallets to snipe the entire WET token supply instantly; to launch new public sale on December 8th.

• USPD $USPD exploited for ~$1M due to exploit; team advises to revoke all token approvals to the USDP contract; team offers 10% bounty to the attacker in return for stolen funds.

• Chainalysis announces expanded pricing supported through CoinGecko; to provide more accurate & up-to-date pricing across Chainalysis investigations, security, & compliance products.

• Fake Telegram Support Channels (Drainers) by SEAL Intel.

Token Unlocks

• Ethena $ENA / ~$44M / DEC 05th
• Linea $LINEA / ~$11M / DEC 10th
• Aptos $APT / ~$20M / DEC 11th
Sourced from Tokenomist

Funding

• N3XT raises $72M in funding from several investors.

• Canton Network $CC raises $50M in Strategic funding from several investors.

• Portal $PTB raises $25M in funding led by JTSA Global.

• TrueNorth raises $3M in Pre-Seed funding led by Cyber Fund.

• DeepNodeAI raises $3M in Strategic funding from several investors.

• Gondor raises $2.5M in Pre-Seed funding from several investors.

• LayerBank raises $2.3M in Pre-Seed funding from several investors.

• Asgard Finance raises $2.2M in Seed funding led by Robot Ventures.

• Haiku raises $1M in Pre-Seed funding led by Big Brain Holdings.

• Everlong raises an undisclosed amount in Strategic funding from GSR.

The Degen Farmer